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If the huge amount of BTC locked in the wallets of long-term investors is anything to by, bitcoins nascent adopters are in no hurry to cash out. Many of the coins accrued and stored in the cryptocurrencys earliest days have yet to move.
A South African businessman whose captors had allegedly demanded bitcoins as ransom has been freed. Liyaqat Parker, a businessman based in Cape Town, South Africa, was released on Monday according to a statement issued by his family. However, the circumstances of his release, including whether the bitcoin ransom was paid, remain unclear as his family
The post Kidnapped South African Tycoon Released for 50 Bitcoins Ransom: Report appeared first on CCN
After discovering a new security vulnerability, hackers managed to flood a crypto exchange with fake EOS tokens. By the end of their operation, they ended up stealing as much as $58,000 from the exchanges users directly.
The hacking attacks of the crypto world show no signs of stopping or even slowing down at this point. The proof of this is a new attack that has hit a decentralized crypto exchange called Newdex. The attack was not a classic one, and the hackers actually flooded the exchange with as much as 1 billion fake EOS tokens which they themselves created according to reports.
The tokens were created on EOS platform, and also named EOS. Through their use, the attackers illegitimately bought IQ, BLACK, and ADD tokens from the exchange. The exchange confirmed this, naming the account that performed the scam as oo1122334455. Additionally, the exchange admitted that as many as 11,800 fake orders were issued through the use of fake EOS coins.
Eventually, the scammers traded fake EOS for real EOS, gaining around 4,028 EOS coins, or approximately $20,000 on Bitfinex. The worst losses were experienced by the Newdex users, which cost around $58,000 in total. While the exchanges team has apologized for the incident, they released no plans regarding compensation for their users.
After an initial investigation, it would seem that the vulnerability consists of two aspects. The first one is the fact that anyone can make their own token on EOS, and name it whatever they want including EOS. The second one includes the fact that Newdex doesnt require smart contracts. That way, it is not possible to actually confirm that the tokens pumped into its system are actually what they seem to be.
This is due to the fact that developers are using the popularity of DEX (decentralized exchanges), and are dressing to pose as one. Whats more, the community proved that Newdex is not a real DEX several days before the incident, stating that Scatter is presented as a trading and login interface, so that it would look like a DEX. The reality is that users are sending funds to regular EOS accounts that dont have any kind of smart contract running on it.
This is called the n...
The prices of Ethereum (ETH) and Ripple (XRP) have surged by more than 10 percent in the past five minutes, despite the lack of momentum of major cryptocurrencies like Bitcoin. A spike in the volume of both XRP and ETH was triggered at around the same time on Bitfinex, affecting other major cryptocurrency exchanges. No
The post Newsflash: Ethereum and Ripple Surge 10% Within Minutes in Abnormal Market Activity appeared first on CCN
Since 2017, so-called experts in the finance sector have criticized Bitcoin for being too expensive. Yet, banks are pocketing 83 percent profit on every wire transfer.
According to Bank of Americas official data, the $302 billion bank charges $30 for outbound domestic wire transfer and $35 for outbound international wire sent in foreign currency.
But, Fedwire, the official real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows banks to electronically transfer funds, charges $0.25 per transaction.
Hence, banks, including Bank of America, are profiting $29.75 per transaction, which adds up to a 83 percent profit margin per transaction.
The transaction fee of Bitcoin reached its peak in November and December of last year, when the demand for cryptocurrencies demonstrated unprecedented levels. The price of Bitcoin surpassed $19,000 as the valuation of the crypto market neared a trillion dollars.
At the time, every major cryptocurrency was struggling to deal with scalability issues, as blockchain systems were not ready to handle a million transactions per day.
Over the past eight months, throughout the bear market, the open-source developer community of Bitcoin, Ethereum, and other major cryptocurrencies have worked on the scalability aspect of public blockchain networks.
Bitcoin integrated SegWit and Lightning while Ethereum is in the process of implementing Sharding and Plasma. These scalability solutions are expected to expand the transaction capacity of blockchain networks by a large scale in the months and years to come.
Already, since January, the transaction fee of Bitcoin has substantially declined to less than $1. The median fee of Bitcoin hovered at around $0.1 per year, which is only 40 percent of the base fee of Fedwire and 300 times cheaper than the wire transfer fee of major banks in the US.
Because of one short period in 2017 when the cryptocurrency market experienced an unforeseen spike in demand and interest, the narrative around Bitcoins...
Kyber Network is adapting the liquidity tool it uses within its decentralized exchange to allow businesses to accept payments in any ethereum token.
Chinas central bank issues yet another stark warning to investors against the risks associated with illegal ICOs and crypto trading
The founders of a $1.45 billion investment firm and a dedicated blockchain fund are teaming up to launch a new cryptocurrency whose value would be pegged to the yen. South China Morning Post reports that Grandshores Technology Group, a Hong Kong-based blockchain investment firm, is raising HK$100 million (US$12.7 million) to bootstrap the project, which
The post $1.5 Billion Blockchain Fund Founders to Finance Yen-Pegged Cryptocurrency appeared first on CCN
January 2019 set as launch date for Chinese blockchain funds first stablecoin pegged to Japanese yen
The chief accountant for the U.S. SEC says that digital assets and blockchain do not change the fundamental responsibility of firms when it comes to financial reporting
Kenyas central bank has penalized five major commercial banks for handling stolen state funds in the corruption scandal involving the countrys National Youth Service and Ministry of Devolution and Planning. In addition, the banks CEOs and employees could face arrest, fines, and jail time.
The Central Bank of Kenya (CBK) on Wednesday, Sept. 12, fined five major commercial banks for handling stolen state money. The banks were used by persons suspected of transacting illegally with the National Youth Service (NYS), the CBK wrote.
The NYS is an organization under the government of Kenya, established in 1964 to train young people in important national matters. In 2015, it became the focus of a corruption scandal involving the countrys Ministry...
Drug discovery platform Verseon continues pharmas entry into blockchain with the launch of securities trading platform
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The crypto prices have dropped once again after a wallet that has been dormant for four years sees new activity.
As many are already aware, the recent events in the crypto world have had strong consequences on the prices of digital coins. Not only has the entire year been marked by a constantly bearish market, but even when a bull run was at hand, negative events killed it.
The most recent such event has seen new activity in an old wallet, which is filled with old Bitcoins. Some reports claim that the wallet contains around 111,140 BTC, which is 0.52% of the total BTC supply. Recently, the wallet started sending large shipments of coins to certain crypto exchanges, namely Binance and Bitfinex.
The owner of the wallet is unknown, but the Reddit user u/sick_silk, the one who originally noticed the wallet activity when it first started happening, has speculated about who might be responsible. According to sick_silk, it could be a whale that aims to disrupt the market or could be an entity from the dark webs online black market, Silk Road.
Other speculators even proposed the possibility that the wallets owner might be Satoshi Nakamoto himself. Whoever it is, the fact is that the wallet has caused a lot of issues in the recent weeks. Its funds have been split into smaller and smaller groups of coin over time. Sick_silk noticed this as well, stating that the coins were originally split into chunks of 60,000 BTC, and then to 30,000, 20,000, and so on. Now, BTC is organized into chunks of only 100 coins each and is ready to be delivered to exchanges.
According reports, sick_silk has been working hard in an attempt to find the wallet owners real identity. So much so, that they managed to connect the wallet to Dread Pirate Roberts, the Silk Roads creator, also known as Ross Ulbricht. Not to mention the speculation about the wallet and the funds belonging to Mt Gox, or even the hackers that hit Mt Gox back in the day.
They guessed right later in the post; it's an old MtGox whale, unrelated to Silk Road.
WizSec (@wizsecurity) September 4, 2018
Sick_silk even provided the trail they followed during the investigation, and more can be seen ...
A newly discovered botnet is seeking out and removing crypto-mining malware, but why it has been created is still unknown.
Over the past 24 hours, the crypto market has experienced a large sell off as Bitcoin demonstrated a 3 percent drop in price, leading the market to drop $10 billion. Ethereum and EOS recorded the largest drop amongst major cryptocurrencies at 9 percent, while Bitcoin Cash, Litecoin, Monero, Cardano, and Dash demonstrated steep 7 percent
The post Crypto Bloodbath: Bitcoin and Ethereum Record Losses in $10 Billion Wipeout appeared first on CCN
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The National Commercial Bank, Saudi Arabias first established bank, has become the latest financial institution to join RippleNet, Ripples enterprise blockchain network. A massive market for international remittances due to its sizable migrant worker population, the Kingdom of Saudi Arabia (KSA) has already seen its central bank pilot Ripples technology for instant international payments. With
The post Major Retail Saudi Bank Joins Ripple Network for International Payments appeared first on CCN
Bitcoin's drop to $6,200 on Monday has increased the odds of a move toward key support below $6,000.
Asias seventh largest economy Taiwan has pursued friendly regulation for crypto and blockchain companies, as the government recognized the potential of blockchain technology in bolstering the economic growth of the country.
This year, Malta, described as the Blockchain Island, established a new trend of implementing favorable policies for crypto startups to enlarge the cryptocurrency market. Within a few months, Binance and Bittrex, two of the biggest multi-billion dollar digital asset exchanges in the world relocated to Malta.
The forward-thinking approach in regulation of Malta led major cities in South Korea, Japan, and Europe to adopt similar regulatory frameworks to lure in cryptocurrency companies.
The government of Taiwan has not drafted or passed any official legislation covering cryptocurrency and blockchain legislation. But, led by congressman Jason Hsu, government officials and major cryptocurrency companies created Taiwan Crypto Blockchain Self-Regulatory Organization (TCBSRO), to set quality industry standards and practices.
Similar to Busan and Jeju Island in South Korea, Taiwanese government officials have taken an early approach to self-regulate the local cryptocurrency and blockchain sector to streamline the process of regulating the market for the government.
For many years, Taiwan was criticized by the international technology sector for its lack of regulations in the fintech and technology markets. Unlike Japan, which acknowledged its weakness in the area of fintech and technology, the government of Taiwan has struggled to embrace emerging and disruptive technologies.
But, the approval of the Financial Technology Innovations and Experiment Act, that allows blockchain and crypto startups to operate for years without regulatory risks, marked the first major step towards practical regulation in fintech in the countrys history, which may speed up the process of passing a potential crypto and blockchain regulatory framework in the near future.
Hsu, the crypto-supporting congressman of Taiwan, has held discussions with the largest companies in the global cryptocurrency sector including Binance, to ensure that the local cryptocurrency sector can continue to grow at a rapid rate with the approval and support from the government.
I am proud to announce the launch of #Taiwan Parliamentary Coalition for...
While the cryptocurrency world never sleeps, the last 24 hours have been particularly active. Everyone is building right now, as the stories weve got coming up in The Daily demonstrate. Ethfinex launches its new DEX, Cloudflare embraces decentralized storage, and Bancor makes a beeline for EOS.
Content delivery network Cloudflare has launched its own IPFS Gateway. As a result, its customers will be able to easily access distributed content that has been stored using the Interplanetary File Storage System. IPFS is used by a host of crypto projects including Sia and Decentraland as a means of ensuring that data is always accessible and immune to DDoS attacks. In a blog post yesterday, Cloudflare acknowledged this, explaining:
Centralization makes it impossible to keep content online any longer than the origin servers that host it. If that origin server is hacked or taken out by a natural disaster, the content is unavailable. If the site owner decides to take it down, the content is gone.
They continued: The Interplanetary File System aims t...
San Francisco-based distributed ledger technology company Chain has been acquired by Lightyear, an entity powered by the Stellar network in an undisclosed agreement. Announced last week, Lightyear will be re-named to Interstellar concurrent with the merger, a company release states. Chain, that builds enterprise-grade blockchain products backed by financial giants Visa, Nasdaq, and Citigroup, will offer its cloud product,
The post Stellar Startup Merges with Chain, to Reborn as Interstellar appeared first on CCN
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
BUDAPEST (SEPTEMBER 18, 2018) INLOCK, a crypto lending platform where licensed lenders can compete for borrowers who want to use their cryptocurrency as collateral for loans, announced today that it has signed a Memorandum of Understanding (MoU) with an institutional lending provider and entered a partnership with one of the Central and Eastern European Countries (CEE) regions biggest crypto ATM manufacturers to test its Minimum Viable Product (MVP). The company launched the ICO for its ILK token on September 15, the anniversary of the Lehman Brothers collapse.
The CEE regions crypto ATM manufacturer plans to integrate INLOCKs services into all of its machines, enabling users to directly take out loans and receive funding in cash within hours. The crypto ATM manufacturer will act as a matching service provider by forwarding customers to INLOCK.
Before we can begin to talk about crypto reaching mass adoption, we first have to be able to spend it. said Csaba Csabai, CEO and founder of INLOCK. Since crypto can be such a volatile asset, people often hold onto it for future gains instead of spending it. INLOCK bridges this gap, and provides customers with the best of both worlds.
The ILK token (ERC-20) will become an integral part of INLOCKs ecosystem, serving as a proper utility token for customers to cover platform fees when taking out fiat loans with crypto collateral all contractual activities will require ILK tokens. Because the platforms usage costs are not deducted from collateral, borrowers can preserve the full value of their cryptocurrency upon repaying the loans.
Founding partners of the $1 billion blockchain fund backed by a Chinese city government are planning to roll out a Japanese yen-pegged stablecoin.
Kryptoez is a new startup in the form of an online store specializing in cryptocurrency themed socks, currently available are 3 different models DigiByte (DGB), Monero (XMR) and of course Bitcoin (BTC). Kryptoez launched with 3 socks styles, but they do plan to have 8-10 different models by early 2019, so more is coming if there is interest. If you want to be in crypto style all around then crypto socks are a must too, so feel free to support Kryptoez by getting a pair of crypto socks if you like the idea and their products like we do. Currently the store accepts the following cryptocurrencies: DigiByte, Bitcoin, Monero, Litecoin, Ether, Bitcoin Cash and Dogecoin. Also accepted are fiat via VISA, Mastercard, PayPal, American Express, Google Pay and Apple Pay.
Just when the crypto community was thinking a recovery could be possible, markets take a big dump once again to dash all hopes. Wiping out all gains over the past few days, markets have slid back below $200 billion and are looking extremely bearish again today.
Bitcoin has lost 3% on the day dropping it below key support levels to $6,295. BTC made a breakout from its rising wedge pattern resulting in a slide of over $200 in three hours or so. Ethereum as usual has fared even worse wiping out all last weeks gains and collapsing 9% on the day back to just below $200. Technical indicators suggest it could fall further back before any rallies can be expected.
Equally as predictable are the altcoins which are all dumping today. The repetitive pattern of 4-5 days gains being wiped off in less than one day is becoming quite tiresome. In the top ten EOS, Litecoin and Cardano are suffering along with Ethereum shedding 7-9 percent on the day. Bitcoin Cash and Monero are not far behind with 6-7 percent losses.
A sea of red has enveloped the rest of the altcoins in the top twenty with VeChain taking the biggest hit at 10%. The rest are all losing 6-7 percent on the day, a pattern which is being repeated all the way down the chart.
Only Steem is defying the dump with an 18% pump at the time of writing. A strange occurrence since their blockchain has been suffering with technical difficulties lately. A few other obscure altcoins are in the green today including Cybermiles, QASH, and FunFair. The rest are getting pounded and at the top of that list is Aurora dropping 27%, followed by MOAC and Mixin both losing 12%.
Total crypto market capitalization has dumped almost $10 billion over night, or around 4.5%. It is currently at $193 billion and dangerously close to falling to another yearly low. Trade volume has increased to $12 billion but largely in the wrong direction.
Reports have emerged of a long silent Bitcoin wallet containing over 110,000 BTC recently awakening to dump a lot of crypto into the markets. It has been speculated that this could have something to do with the now defunct dark web marketplace, Silk Road, though this remains as speculation.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
Bitcoin price decline extended below the $6,400 support against the US Dollar. BTC/USD may correct higher, but it could face sellers near $6,340 and $6,380.
Recently, there was a downside reaction from the $6,630 swing high in bitcoin price against the US Dollar. The BTC/USD pair started a fresh decline and moved below the $6,420 and $6,400 supports. It opened the doors for more losses and the price fell below $6,300. There was even a close below the $6,400 support and the 100 hourly simple moving average.
Moreover, there was a break below a major bullish trend line with support at $6,440 on the hourly chart of the BTC/USD pair. The pair traded as low as $6,209 and later started consolidating losses. On the upside, an initial resistance is near the 23.6% Fib retracement level of the recent decline from the $6,533 high to $6,209 low. Above this, there is a connecting bearish trend line in place with resistance at $6,320. Finally, the 50% Fib retracement level of the recent decline from the $6,533 high to $6,209 low is at $6,368. Therefore, if the price corrects higher, it could find resistance near the $6,360-80 zone.
Looking at the chart, bitcoin is back in a negative zone below the $6,380 level. On the downside, a break below the $6,200 support zone could open the doors for more losses towards $6,120 and $6,080.
Looking at the technical indicators:
Hourly MACD The MACD for BTC/USD is slightly in the bullish zone.
Hourly RSI (Relative Strength Index) The RSI is presently well below the 40 level.
Major Support Level $6,200
Major Resistance Level $6,380
The post Bitcoin Price...
The Peoples Bank of China (PBoC), the countrys central bank, has issued a public notice urging investors of risks in cryptocurrency trading and initial coin offerings (ICOs). The Shanghai branch of the PBoC issued a public notice on Tuesday to remind consumers and investors to increase their risk awareness of ICOs a radical form
The post China Central Bank Warns of Cryptocurrency, ICO Risks in Public Notice appeared first on CCN
The arrival of cryptos doesn't alter the need to maintain proper accounting records, the SEC's Wesley Bricker said Monday.
While the value of nearly all crypto assets have tanked since January of this year, with ICO-issued tokens being no exception, the public funding model has still garnered support and is still of interest to many investors across this early-stage industry.
Andy Bromberg, the CEO and founder of CoinList, a New York-based ICO-focused platform, spoke with Bloomberg on Monday morning to outline his professional opinion on the state of ICOs and the market in general. Opening the segment, the host questioned the startup CEO on how 2018s crypto market performance has impacted his business, which many would assume follows the trajectory of prices.
Interestingly enough, Bromberg divulged that this wasnt the case, explaining:
So CoinList tends to work with the best digital asset companies to manage their tokens sales, and I think last year we were seeing almost every ICO soaring through the sky on a lot of hype and attention. [But now], a lot more of them are on the ground, like land ducks and penguins [that] cant make it up into the air [Still], last year about $6 billion went into ICOs, which is a staggering number, this year, its looking at $15 billion so far, and we arent even through the year.
Speaking on why the ICO market got a bump, even amid an 80 percent correction, the entrepreneur explained that theres been an arrival of new types of tokens and blockchain projects, which subsequently lead to an increase in demand and attention for projects that fit into these different types of categories that are going to make gains in this space. Not only that, but up and coming projects are starting to utilize new models, technology and ideas to appeal to a larger customer base, which has only exacerbated the bifurcation between quality projects and low-quality ones.
At the time of writing, CoinMarketCap touts that there are 1,969 publicly-traded cryptocurrencies that are actively being traded. One of the Bloomberg hosts seemed to take note of this absurd figure, asking Bromberg why this market needs a vast array of tokens and projects. To the chagrin of altcoin maximalists, Bromberg unexpectedly stated:
I dont think we need that many tokens, I think that this speaks to any new technology theres this Cambrian explosion of attention and a lot of them are low-quality, but people invest in them anyway. This year, what were seeing is those high-quality projects are making significant gains, Bloomberg actually report...
Journalist Logan Kane of Seeking Alpha conducted a deep dive on the practices of popular stock and cryptocurrency trading smartphone application Robinhood. According to Mr. Kane, it seems that todays Robinhood takes from the millennial and gives to the high-frequency trader. Not only does Robinhood accept payment for order flow, but on a back-of-the-envelope calculation, they appear to be selling their customers orders for over ten times as much as other brokers who engage in the practice.
Robinhood has taken both the legacy retail stock exchange market and the cryptocurrency exchange market by storm, offering commission-free trades. In just a short time, the startup has earned a multi-billion dollar valuation. These basic facts have brought the firm a lot of very positive media coverage, including, on balance, these pages. However, with success comes greater scrutiny, and especially when a so-called loss leader business model is paramount to its product adoption....
Dubai Police currently investigating a Dh 300 million ($81.7 million) international fraud case have issued a warning about the potential role of digital assets in terms of facilitating crime in the UAE. Speaking at a forum on Sunday September 16, Major-General Khalil Ibrahim Al Mansouri, assistant-commander of criminal investigation department (CID) at the Dubai Police warned
The post Dubai Police Warns Against Crypto Scams, Predicts Electronic Money Will Replace Cash appeared first on CCN
Ethereum price declined recently against the US Dollar and bitcoin. ETH/USD may perhaps continue to decline towards the $180 level in the near term.
After failing near the $225 level, ETH price started a downside move against the US Dollar. The ETH/USD pair declined ad traded below the $210 and $200 support levels. There was also a close below the $200 level and the 100 hourly simple moving average. Moreover, there was a break below the 50% Fib retracement level of the last wave from the $166 low to $227 high.
More importantly, there was a break below a major contracting triangle with support at $210 on the hourly chart of ETH/USD. The pair declined towards the $190 level and found support near $192. On the downside, the next support is near the 61.8% Fib retracement level of the last wave from the $166 low to $227 high. A downside break below the $192 level could open the doors for more losses. The most important support is near $180, which is close to the 76.4% Fib retracement level of the last wave from the $166 low to $227 high. If the price corrects higher, it could find resistance near the $200 and $205 levels.
Looking at the chart, ETH price in a bearish zone and it could extend declines towards $190, $185 and $180. Below this last, it could even trade back towards the $166 level.
Hourly MACD The MACD is moving in the bearish zone.
Hourly RSI The RSI is currently well below the 40 and 30 levels.
Major Support Level $190
Major Resistance Level $205
The post Ethereum Price Analysis: ETH/USD Could Decline to $180 appeared first on NewsBTC.
Hackers stole the processing power of several Indian government websites to mine cryptocurrencies, researchers found. Citizen portals such as that of the municipal administration of Andhra Pradesh (AP), Tirupati Municipal Corporation and Macherla municipality are among the hundreds of Indian websites that are found to be infected by cryptojacking malware. Cryptojacking, as the term indicates,
The post Cryptojacking: Attackers Hijack Indian Government Websites to Mine Cryptocurrency appeared first on CCN
For a small community of users in the occupied territories, bitcoin has become an economic lifeline to the outside world. But it can do only so much.
Bitcoin Price Key Highlights
Bitcoin price made a downside break from its rising wedge pattern but might be due for a pullback before heading further down.
Technical Indicators Signals
The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is still to the upside. In other words, there still might be a chance for the uptrend to resume.
However, the gap between the two is narrowing to reflect weaker bullish momentum and a possible downward crossover. Bitcoin price has also tumbled below both moving averages, so these might hold as dynamic resistance moving forward.
RSI is turning higher after recently dipping into oversold territory, suggesting a possible return in bullish pressure. Stochastic also looks ready to climb out of the oversold region and bitcoin price could follow suit once it heads north.
However, price could hit roadblocks at the Fib levels marked on the breakdown. The 61.8% Fib lines up with the broken wedge support around $6,430 and the 50% Fib lines up with the 200 SMA dynamic inflection point. If any of these levels keep gains in check, bitcoin price could resume the slide to the swing low or lower.
With that, its understandable that traders are dumping their riskier holdings and flocking back to the safe-havens. Cryptocurrencies have been deep in the red once more, with declines led by ethereum.
The Ukrainian parliament is considering a bill, which would introduce a tax regime on cryptocurrencies at five percent and increase to 18 percent in 2024
A Reader Asks: Should I Sell Gold and Buy Bitcoin? by Clint Siegner Money Metals Although the fervor has diminished substantially since the crypto price smash earlier this year, we do still see a degree of interest in bitcoin...
The post A Reader Asks: Should I Sell Gold and Buy Bitcoin? appeared first on The Daily Coin.
This time last week, it was all about doom and gloom for Ethereum after a high-volume candlestick drove prices below $200 for the first time this year. Needless to say, ETH prices have since recovered. Though we need to see movements above $300, its safe to say that aggressive traders can ramp on longs on every dip in lower time frame with the only deterrence being Sep 5 bear candlestick. This bar continues to overshadow and would likely damp buyers efforts in days to come.
Trading at around $205, ETH is a valuable and a sought-after digital asset. Unlike traditional assets, ETH exists in the inter-web and hot wallets are therefore honey pots for hackers. According to Sagasec, a Cyber security firm that was contracted by MyEtherWallet to oversee the security of the Ether storage platform, the wallets is definitely in the hackers cross hairs. Their statistics indicates that they wade off as much as 40 attacks per week according to reports.
Attack vectors vary from fake MyEtherWallet websites to dubious social media advertisements or re-direction from emails targeting gullible ETH coin owners. Regardless, Sagasec has been largely successful. So far, there havent been any cases of account holders complaining of lost funds through malicious hacks. This pales in comparison with those of exchanges. Crypto exchanges have so far managed to print more than $550 million in losses.
While MEW is doing a wonderful job, the value of ETHdifferent from price is a subject of contention. It appears as if Jeremy Rubin did trigger an important topic in the blockchain realm. With his economic abstraction argument and projection that ETH might spiral down to zero, argument is now moving to the reservation demand of ETH. In economics, the reservation demand is how long the owner of currency is willing to hold before exchanging it for goods or service. Economists argue that the recent sell off is sparked mainly by ICO fund managers liquidating their DA fueling the selling frenzy. This means at the moment the reservation demand of ETH is low as ICO project managers arent willing to risk stalling their project as ETH prices tank.
On a weekly basis, ETH is on a recovery path. From the level of market participation in the last week, chances are we might see confirmations. Cementing this assertion is the marked increase in tra...
The bitcoin security specialists Wizsec has recently explained to the public that the wallet that held more than 111,000 BTC did not derive from the Silk Road marketplace, and its also not one of the Mt Gox wallets. Further Wizsec detailed today that a recent article had quoted the organization by cherry-picking quotes which in turn created an editorial that has bolstered unneeded fear, uncertainty, and doubt (FUD).
Over the last few weeks, cryptocurrency enthusiasts have been discussing a large amount of BTC that has moved from an old wallet onto a few popular trading platforms. Many people including the person who ...
Ripples Sagar Sarbhai is confident that the company will launch a commercial application of its xRapid solution "in the next month or so"
Major U.S. content delivery network CloudFlare introduces a new decentralized content gateway
At World AI Conference 2018, Jack Ma, the co-founder and chairman of $414 billion e-commerce conglomerate Alibaba, stated that artificial intelligence (AI), blockchain, and Internet of Things (IoT) can all become meaningless if they fail to target the manufacturing industry. AI, Blockchain and IoT will be meaningless tech unless they can promote the transformation of
The post $414 Billion Alibabas Jack Ma: Blockchain Needs to Target Manufacturing Industry appeared first on CCN
According to a World Economic Forum (WEF) report, blockchain could be used to help tackle the most pressing environmental concerns faced by the planet. The document states that the distribute ledger system could help address climate change, biodiversity issues, and scarcity of water.
The World Economic Forum (WEF) has produced a report on how blockchain could be used to help protect the planets environment.
Building Block(chain)s for a Better Planet is part of a series of papers exploring the implications of emerging technologies and how they can impact global society. Other reports in the collection focus on Internet of Things (IoT), virtual reality, and artificial intelligence. The document is a collaboration between international accountancy firm PwC and the American Stanford Woods Institute for the Environment.
The report identifies that the planet is amid an unprecedented environmental systems change. This has been caused by surging economic activity since the middle of the twentieth century.
WEF claim that such conditions present a clear opportunity to use blockchain and other technological innovations to combat six of the most pressing environmental dangers facing life on earth. These are: climate change, natural disasters, biodiversity loss, ocean-health deterioration, air pollution, and water scarcity.
Throughout the document, as many as 65 different applications of blockchain technology are identified as being able to help alleviate those environmental issues mentioned previously. It goes on to state that blockchain was particularly useful in examples where it enables:
cleaner and more efficient decentralized systems; peer-to-peer trading of resources or permits; supply-chain transparency and management; new financing models for environmental outcomes; and the realization of non-financial value and natural capital.
The report also states that the opportunities presented by blockchain technology could allow for the monetisation of value that is currently embedded (but unrealised) in environmental systems. The authors go on to allege that the technology could fill such a gap in the market.
The WEF are careful to note that such changes do not happen on their own. Rather they need to be implemented through collaboration between various participants. These include policy-makers and technologists. The group believes that such a joint effort, assisted by cutting-edge technology, could create a sustainability revolution.
The WEF is a non-profit organisation that is based in Switzerland. The think tank aims to unite the foremost political, business, and other...
Crypto markets drop sharply, Bitcoin plunges $200 down within a few hours, Ethereum is below $200 again
MyCrypto, a non-custodial Ethereum and ERC20 token wallet created by the co-founder of MyEtherWallet, has integrated a feature that enables Ethereum users to schedule ETH transactions ahead of time. On MyCrypto, an open-source wallet that is structurally similar to MyEtherWallet, users can connect hardware wallets like Trezor and other non-custodial wallets such as MetaMask to
The post Ethereum Wallets are Enabling Transaction Scheduling, Killer Feature appeared first on CCN
As expected, altcoins prices are slowing down after periods of sustained bullish attempts in the second half of last week. As it this, there sellers are running reign in most coins under our preview. Needless to say, week ending Sep 9 and Sep 5 bearish engulfing pattern is a definite price damp for buyers. All in all, should prices move above $9 in EOS, $70 in Litecoin, 25 cents in Stellar Lumens and $150 in Monero, then we shall have a trend continuation pattern. In that case, our immediate bull targets might be hit.
Lets have a look at these charts:
Still, EOS is the fifth most capitalized coin the crypto verse and yesterday, prices were stable. Capping gains is Sep 13 bullish engulfing bar with obvious resistance which triggered buys late last week.
If anything, the fact that EOS prices did collapse after periods of moving within a tight trading ranges with ceiling at $5.5 did fade last EOS price predictions.
Furthermore, unless otherwise there are strong gains above reversing Sep 5 losses, then yesterdays dip is but another case of effort versus result situation printing in a deep bear trend and weighing against EOS buyers.
Two major South Korean cryptocurrency exchanges have announced that they will no longer allow unverified users to make withdrawals in Korean won. Starting next month, users of Bithumb and Coinone must have verified real-name accounts in order to deposit and withdraw the fiat currency.
Bithumb, the largest crypto exchange by trading volume in South Korea, announced on Friday, Sept. 14, that it will terminate fiat withdrawal service for all users without verified real-name accounts.
The service will end on Oct. 1 for corporate members and on Oct. 15 for individual members. Bithumb says the move is to comply with the governments anti-money laundering policy.
However, the exchange clarified that this announcement only affects fiat withdrawals, emphasizing:...
The University System of Georgia (USG) announced the launch of a state-wide fintech academy on on Sept. 11. It is the largest education effort of its kind in the United States. While individual universities have offered blockchain courses, such as Stanford and NYU, Georgia is opening the program to all current students across all colleges
The post Bullish on Blockchain: Georgia Universities to Offer Fintech Degree Programs appeared first on CCN
The American National Standards Institute will focus on blockchain and AI application and development issues at the next Legal Issues and Joint Member Forum
The ethereum price dropped back down below the $200 mark on Monday, as the second-largest cryptocurrency endured yet another double-digit rout. ETH had been on a moderately-ascendant trajectory since briefly dropping below $175 last week, crossing $225 at one point over the weekend and, despite some early morning losses, holding the $200 line leading into
The post Newsflash: Ethereum Price Drops Below $200 in Double-Digit Rout appeared first on CCN
A Spanish blockchain company will develop blockchain solutions for the Aragonese governments public administration
Bitfinex has launched an Ethereum-based hybrid cryptocurrency exchange called Ethfinex Trustless to give traders more security, privacy and control of their funds, marking the foundation of what the exchange hopes will be a completely decentralized trading model. The platform utilizes Ethfinex, which links centralized and off-chain orders books to gives users full control of their
The post Bitfinex Launches Decentralized Ethereum Trading Platform Ethfinex appeared first on CCN
When societies discuss cryptocurrencies, the argument that the decentralized and unregulated nature of the crypto space leaves the door open to abuse, like money laundering and financial fraud, is often put forward by officials and authorities. However, a string of cases involving precisely these sins, and many, many banks, show that regulations are largely ineffective in preventing this type of violations, especially when they are committed by the big traditional players.
Affairs, probes, fines, resignations over the past weeks, weve often seen these words in headlines, right next to some of the most reco...
With about $1 billion worth of cryptocurrencies expected to be dumped by Mt. Goxs creditors soon, what should we expect from the prices? Lets check the charts
Identical twins who grew up in a tough south London neighbourhood became multi-millionaires by designing one of the worlds leading More
Proponents of litecoin, the seventh-largest cryptocurrency, have long touted it as silver to bitcoins gold, the medium of exchange to BTCs store of value. Much like physical silver, though, litecoin currently trades well below its all-time high, having plunged to about $55 from a peak of $358. However, according to cryptocurrency hedge fund Multicoin Capital,
The post Litecoin a Significantly Overvalued Relic, Cryptocurrency Hedge Fund Claims appeared first on CCN
As the Indian government further complicates their stance on whether or not citizens should be allowed to trade and own cryptocurrencies, hackers have found a way to exploit government websites in order to make a fortune in cryptocurrency through a popular hack called cryptojacking.
A team of security researchers have found that multiple government owned websites are being exploited to secretly mine cryptocurrency from unsuspecting computers. These include the director of municipal administrations website and Tirupati Municipal Corporations site, among hundreds of others.
Cryptojacking has become an increasingly popular way for hackers to acquire cryptocurrency by using the computing power of unsuspecting site visitors to mine various cryptos. By using a malicious code embedded in the links to websites, hackers can infect a computer in order to utilize the maximum computing power of the infected computer.
Security researcher, Indrajeet Bhuyan, spoke about the prevalence of this code on Indian government websites, saying that:
Hackers target government websites for mining cryptocurrency because those websites get high traffic and mostly people trust them. Now, injecting cryptojackers is more fashionable as the hacker can make money.
Last month, a report from U.S.-based security firm, Palo Alto Networks, confirmed that cryptojackings popularity is surging, coinciding with the increase in cryptocurrencys popularity. The popularity of these attacks stems from the discreetness of the malicious code, as well as the supposed victimless nature of the crime.
Although the hacks may initially seem to be harmless, they can pose significant threats to the well-being of infected computers. A report by Russian security firm Kaspersky Labs found that unwarranted cryptocurrency mining can damage the internals and externals of a computer, especially laptops.
The report found that after two days of heavily mining Monero on an unsuspecting computer, the infected device showed physical signs of damage, including a deformed laptop shell due to an expanding battery.
The researcher conducting the research at Palo Alto Networks said that Monero (XMR) is the most popular cryptocurrency mined by cryptojackers, due to its anonymity features. The report notes that:
By querying the mining pools themselves, instead of the blockchain, were able t...
Malware, a persistent thorn in the side of the internets wider
community, has become an increasing concern for cryptocurrency
users. A problem that comes in many forms, malicious software is
leveraged by hackers to rob community members of their funds. One
program, dubbed the
clipboard hijacker, for instance, operates by secretly gaining
control of a Windows devices running memory. It then replaces the
Bitcoin address copied into a users clipboard with the address of
the attacker, leading the user to unwittingly transfers funds to
New Jerseybased BlockSafe Technologies is determined to make mobile crypto wallets more secure with a mobile wallet protection app called the CryptoDefender. According to the company, the CryptoDefender mobile app proactively prevents keylogging malware from stealing your cryptocurrency wallet login details.
The mobile app, which has a desktop version, is loaded with a host of features including a password generator that creates and stores strong passwords, a password vault for encrypting and storing passwords securely, a secure browser and an OATH-complaint one-time password (OTP) generator for websites that allows for two-factor authentication.
George Waller, who serves as the CEO of BlockSafe and the co-founder of cybersecurity outfit StrikeForce Technologies, played a pivotal role in introducing out-of-band authentication and keystroke encryption to the marketplace. He has also held management roles at RxRemedy, TeachMeIT and HealthSCOUT.
Speaking with Bitcoin Magazine, Waller said the threat posed by bad actors and malware is one of the biggest barriers to the mass adoption of cryptocurrency.
Wallets are very vulnerable and insecure, with an average of $9 million stolen every day. By far, those most at risk of becoming victims at the hands of bad actors are those without IT teams, sophisticated cybersecurity tools, or the experience to understand how great the risk can really be, he remarked.
The best targets to steal crypto from are the everyday investors, the folks that did the research and took the chance of investing their hard-earned dollars in an emerging and revolutionary technology, and as blockchain cybersecurity experts, we simply wont stand idly by while the community that is...
Municipal government websites in Andhra Pradesh are running cryptojacking scripts, a group of security researchers found earlier this month.
As an engineer at SpaceX, Joshua Greenwald was charged with spearheading automation and propulsion on the aerospace startups Moonraker project. Now, he is directing his efforts toward a radically different industry, albeit one that also has lunar ambitions. Greenwald, who spent more than a decade as a trader prior to his stint at SpaceX, has
The post Fmr. SpaceX Engineer Launches Institutional-Grade Cryptocurrency Exchange appeared first on CCN
The newly appointed Finance Minister of Zimbabwe is pushing for the formation of a cryptocurrency unit to help guide government policy relating to the technological and financial innovation. Mthuli Ncube also believes that the nation should pursue investments in the space.
According to a report in local news publication ItWebAfrica, the newly appointed Zimbabwean Finance Minister, Mthuli Ncube, believes that the answer to the nations ongoing financial woes could be cryptocurrency. He said:
Zimbabwe should be investing in understanding innovations and often central banks are too slow in investing in these technologies. But there are other countries which are moving faster. If you look at the Swiss central bank they are investing in- and understanding bitcoin.
In recent memory, Zimbabwe has been struggling to recover from the fallout of a severe bout of hyperinflation. On top of this, a liquidity crunch along with general shortages of cash have largely been caused by diminishing Nosotro accounts.
Exacerbating these struggles is a declining demand for Zimbabwean exports and the government has been financing spending with an over-issuance of Treasury Bills. This has meant that banks have been forced to impose withdrawal limits, causing people to struggle to access any money they might have saved. The shortage of cash in Zimbabwe has forced citizens to travel out of the nation to neighbouring South Africa and Botswana. There they are able to access international banks.
To remedy the extensive troubles faced in Zimbabwe, Ncube feels that the government needs to explore Bitcoin with a designated cryptocurrency unit. He went on to state that Zimbabwe needed to look at the example set by other nations to alleviate the economic hardships faced in his country. If some countries are interested in digital assets then so too should Zimbabwe:
One can pay for travel using bitcoin in Switzerland. So, if these countries can see value in this and where its headed, we should also pay attention. We have innovative youngsters so the idea shouldnt be to stop it and say dont do this, but rather the regulators should invest in catching up with them and find ways to understand it, then you regulate it because you now understand it.
From what Ncube has stated, it sounds that he wants to see the Zimbabwean government actually buying Bitcoin. That said, it is unclear for now if that is what he meant or he simply feels that the nation needs to explore potential revenue streams surrounding the industry.
If it transpires that the government wants to hold...
If youre planning to swap between cryptocurrencies, there is no shortage of options. Many people will use a centralized exchange such as Binance, but there are also non-custodial solutions such as Flyp.me. There are pros and cons to both models in terms of privacy, speed, and value for the money. The following review will focus solely on the latter, with a view to determining which exchange mechanism offers the best value for money.
Also read: Four Alternatives to Shapeshift
When youre cashing out into fiat, or swapping between cryptos, every satoshi counts. This is particularly true for freelancers who are paid monthly in cryptocurrency and then obliged to cash out a lump sum to cover living expenses. Some professionals who are paid in ETH, for instance, will immediately switch to BTC, before selling what they need to through Localbitcoins.com. For the purposes of this review, well consider the exchange rate when swapping a small amount of ETH to BCH ($100) and a larger amount of ETH to BTC ($2,000).
The Ukrainian parliament has introduced a bill outlining taxes on cryptocurrency-related profits.
Eccentric tech entrepreneur and founder of Space X and electric vehicle manufacturer Tesla Motors, Elon Musk, is reportedly getting fed up with the cryptocurrency giveaway scam bots that have been plaguing popular social media platform Twitter for the better part of a year.
As a result, he has turned to the creator of the cryptocurrency Dogecoin to seek a solution to the ongoing issue.
The widespread prevalence and frequency of Twitter spambots promoting fake cryptocurrency giveaway scams has finally got to Elon Musk, according to recent public comments he made via his Twitter account.
Musk tweeted at Jackson Palmer, the founder of the Dogecoin meme cryptocurrency, asking if he can help get rid of the annoying scam spammers, saying it would be much appreciated. Musks comment may have also contained a tongue-in-cheek nod to Dogecoin. Dogecoin was created as a joke to honor the Shiba Inu dog meme that often uses the term much wow.
Palmer had previously developed a script to block the scam bots in the past, sharing the code with Musk, claiming its short, simple and you just run it with cron somewhere.
Palmer turned the conversation toward Twitter itself, suggesting Jack Dorsey, Twitter CEO, and his team should definitely automate and fix this problem on their end.
Musk is among the tech industry figure heads often impersonated by Twitter scam bots. Others include Changpeng Zhao, Binance CEO, actor William Shatner, and even United States President Donald Trump. Many have been forced to include not giving away cryptocurrency in their Twitter usernames to try and save investors from being duped.
Musk recently tweeted, appearing impressed by the scam bots, saying they had mad skillz. It didnt take long, however, for Musks amusement to turn into annoyance.
The public social media conversation caught the attention of Ethereum founder Vitalik Buterin who replied to Musk imploring Dorsey to help us please.
Elon Musk, previously amused by Twitter scam bots, now finds them annoying, asks Dogecoin founder for help
A new statement issued by Securities and Exchange Commission (SEC) Chairman Jay Clayton has some within the cryptocurrency community questioning whether the agency could change its tune on ether the native currency of Ethereum which a top official previously said should not be regulated as a security. SEC Chair: Staff Guidance Non-Binding Clayton,
The post What SEC Chairman Jay Claytons New Statement Means for Ethereum appeared first on CCN
Bancor has announced plans to launch on EOS, expanding its decentralized token exchange protocol to a second blockchain.
Ripples settlement system that uses a combination of blockchain and cryptocurrency technologies may be going live within the next month or so, according to a statement from a company executive.
The product, which utilizes XRP to complete real-time cross border settlements, has already struck some high-profile partnerships, and many investors see it as the main use case of XRP.
While speaking to CNBC, Sagar Sarbhai, Ripples head of regulatory relations for Asia-Pacific and the Middle East, said that the company has made significant progress towards the official launch of its xRapid product, and that it will only be a short matter of time before the product goes live.
During the interview, Sarbhai said that:
I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.
xRapid is unique from Ripples other blockchain-based settlement system, xCurrent, in that it utilizes XRP and the XRP ledger in order to facilitate cheap and instant cross border transactions, with the product being specifically marketed towards banks and other financial institutions.
The product allows a group, like a bank, to convert their fiat currency to XRP, which is then sent to the receiving party, and quickly converted to the receiving partys fiat currency. This system completes these processes automatically, allowing fiat currency to be converted and moved to anywhere in the world in an incredibly short amount of time as compared to current settlement systems.
Many XRP detractors claim that the xRapid system will not be widely adopted by banks and other financial institutions, and that its creation was the companys attempt to create a use case for XRP, which is closely related to the company. That being said, the company has signed on some major partners to work with their xRapid system in beta, including Santander Bank, American Express, MoneyGram, Western Union, and SBI Japan.
These partnerships in their current state are trial runs with xRapid or with xCurrent, but Ripple is confident that many of the companys xCurrent customers will eventually move to xRapid.
Sarbhai also said in the interview that more than 120 banks and financial institutions are currently partnered with Ripple in order to utilize their suite of blockchain products to increase the efficiency of their settlement systems through the use of xCurrent.
This week Bitcoin Cash (BCH) fans were pleased to hear another well-known merchant is now supporting BCH for payments. The South Korea-based food dispatch platform called Shuttle Delivery now accepts BCH for door-to-door meal deliveries throughout the Seoul region.
People visiting and residents of the Seoul region in South Korea can now use bitcoin cash to pay for tasty cuisine delivered straight to their door. The firm, Shuttle Delivery, is a South Korean food delivery platform that people can use to order meals with their mobile devices. The application is available in Korean and English and for both Android mobile phones and iOS as well. Shuttle Delivery not only accepts traditional credit cards and Paypal but yesterday, on September 16, a website update revealed that it offers full bitcoin cash acceptance. The Shuttle Delivery application connects BCH users in South Korea to 200+ local restaurants.
Shuttle Delivery provides delivery services from a variety of Seouls best resta...
Elon Musk, the acclaimed founder and CEO of Tesla and SpaceX, recently reached out to Dogecoin creator and Adobe product lead Jackson Palmer to eliminate Ethereum giveaway scammers on Twitter. For many months, ETH giveaway scams have plagued Twitter by spamming messages on the feed of public figures in and outside of the crypto sector
The post Dogecoin Creator Helps Elon Musk Eliminate Ethereum Scammers on Twitter appeared first on CCN
Bitcoin price on Monday depreciated against the US Dollar after consolidating sideways for the whole Asian and European sessions. The BTC/USD at the beginning of the US trading hours formed lower lows towards 6239-fiat. Before that, the pair was trading sideways owing to minimal momentum. It kickstarted the Asian session with just shy of 6500-fiat
The post Bitcoin Price Intraday Analysis: BTC/USD Wedge Support Broken appeared first on CCN
Token gesture: Football token offering from PSG is the next step in blockchains entrance into global football
Though cryptocurrencies are perfect, they have to be better understood, as the world is going through a digital revolution, BBVA executive chairman says
Some more invites are available for the invite-only Merit project that we have introduced a while ago, so if you are interested in it and want to give it a try mining or using, then feel free to apply using the link below. Merit (MRT) coins can still only be mined with Nvidia GPUs, though AMD miner is in the works for a while now, there is already a third-parity Merit CUDA miner available with more options that you can try as well. Merit has its own trading market (MRT-BTC) with escrow that works fast and is really reliable, so you can buy and sell coins on the market. Since it is invite only and invites need to be mined and it is not yet listed on any major exchange, Merit is still kind of under the radar, but the last few weeks there has been a significant growth with increased interest and more people joining the project. We have a limited number of invites available to give away, so please do not waste them, we are going to send invites as soon as possible on a first-come, first-served basis. Sending multiple invite requests will not get you accepted faster, in fact will have the opposite effect of not getting you invited at all!
The northern part of the Australian state, Queensland, is bustling with cryptocurrency energy. The region is extremely passionate towards one specific decentralized peer-to-peer electronic currency bitcoin cash (BCH).
Over the last few months, a few bitcoin cash proponents have been spreading a lot of BCH adoption in the North Queensland region in Australia. North Queensland is a very large area with its own distinctive regional character within the massive state of Queensland. Anyone who frequents the Reddit forum r/btc, have probably noticed many posts showing BCH adoption taking place in the region.
North Queensland has its own Bitcoin Cash meetup, its home to the countrys first BCH-only automated teller machine, and right now the area has a lot of BCH accepting merchants. This week, using the mobile application...
Editors Note 18/Sep 07:55 a.m: The article has been amended to clarify that Cinnober is a trading solution provider to marketplaces and clearinghouses, not an exchange itself as suggested previously. Nasdaq, the worlds second-largest stock exchange, announced Friday that it is in the works to acquire Cinnober, a trading solution provider based in Sweden. Cinnober
The post Nasdaq is Acquiring Crypto-Friendly Swedish Fintech Cinnober appeared first on CCN
Alibaba founder Jack Ma says blockchain will be meaningless tech unless it can help evolve society and the manufacturing industry in a greener and more inclusive direction
Cloudflare intends to announce a new cryptography-related product every day this week. The first: a gateway to access the InterPlanetary File System.
Ripples long-anticipated cryptocurrency product, which aims to make XRP the asset of choice for cross-border settlements between financial institutions, is finally nearing production via an actual commercial application. Sagar Sarbhai, who heads Ripples regulatory relations in the Asia-Pacific and Middle East regions, told CNBC that the firm believes this product, dubbed xRapid, could launch in
The post Ripple Says XRP Product Will Go Live in Next Month or so appeared first on CCN
Research by the World Economic Forum and PwC has identified over 65 ways blockchain could address some of the most urgent environmental challenges.
Over the past 24 hours, the crypto market has consistently demonstrated stability in the $202 billion region, as Bitcoin and Ethereum remained above $6,400 and $220. Yesterday, on September 16, CCN reported that the volume of Bitcoin is a concern, as it recorded nearly 30 percent drop in volume in a period of three days.
The post Crypto Market Steadies at $202 Billion. Low Bitcoin Volume Remains a Concern appeared first on CCN
Governments. Cant live with them, cant live without them, right? From first world countries to war-torn hellholes, bemoaning politicians is de rigueur. Yet for all their flaws, we tend to view our elected officials as a necessary evil, for if they werent in office, the country would descend into anarchy. At least thats what weve always been told. The history books, however, would demur.
589 days. Thats how long Belgian residents were forced to live without an elected government between 2010 and 2011. Due to disagreements between the Flemish and Walloons, a coalition could not be formed. While the two parties fought out their many differences, a former prime minister oversaw a bare bones government that handled the basic day-to-day operations.
Apocalyptic predictions abounded of what would happen to the rudderless country. A debt crisis would be inevitable, doom-mongers asserted. The fallout would affect Europe, they foretold. There would be anarchy. Chaos. Blood i...
Ripples Sagar Sarbhai has said he believes that the blockchain good, crypto bad narrative is losing traction among regulators globally
UAE should develop statewide cryptocurrency, says law enforcement officials and experts
The recent reports regarding the crypto situation in the UK indicate that the countrys government has yet to make a formal assessment of potential consequences of the changes in the value of numerous cryptocurrencies.
As cryptocurrencies continue to expand and conquer the world of finances, numerous countries governments are questioning the influence of the new technology. The UK is no different, and the question of what consequences digital currencies might have on certain sectors of the economy remains open for debate.
However, the last few weeks have seen significant swings in the prices of many cryptos, usually led by Bitcoin (BTC) itself. Because of this, Warwicks Lord Taylor asked for the Governments assessment of the new reports regarding the crypto situation in the UK. Lord Taylor wanted to know what potential effects these events might have on the blockchain industry in the UK according to reports.
However, the answer provided by the Department for International Developments Minister of State, Lord Bates, did not exactly answer this. According to Lord Bates, The Government has yet to make any sort of formal assessment of the implications that the value swings might have in the UK. Even so, Lord Bates reassures that the Government is, and will continue to, closely track all crypto-related developments.
Lord Bates also took the opportunity to remind everyone that the Cryptoassets Taskforce was launched in March. The Taskforce consists of the Bank of England, HM Treasury, as well as the Financial Conduct Authority. Its goal is considering various potential benefits and risks regarding the crypto assets and blockchain technology. Additionally, they are also tasked with making assessments regarding what possible regulation is needed to respond to the new crypto-related situation. As such, the report will come from them sometime in the Autumn.
Additionally, less than a week earlier, HM Treasurys Economic Secretary, John Glen, stated that the launcher of the Taskforce, Chancellor of the Exchequer, did not have a formal discussion regarding the new crypto situation with the Bank of England. He also stated that the Bank of England has no official plans to make a new bank-backed cryptocurrency. Even so, the Bank did research the topic, as well as any potential implications of actually launching one.
Glen answered similar questions back in March of this year. On that occasion, he stated th...
Binance is set to unveil a fiat currency exchange that will be based in Singapore. This was revealed by CEO Changpeng Zhao over the weekend while speaking at the Cumberland Summit, a blockchain event in Singapore. Zhao further revealed that the new exchange is currently under an invitation-only beta testing phase. After making the announcement
The post Binance to [Beta] Launch Singapore Fiat Crypto Exchange Tomorrow appeared first on CCN
Caspian, a project aimed at giving crypto traders better tools, has attracted $16 million in funding from top industry investors.
Joshua Greenwald, formerly a SpaceX engineer, plans to expand the market reach of his LXDX crypto exchange
LG Uplus, the cellular carrier subsidiary of South Korean conglomerate LG Corp., is set to trial a cross-carrier blockchain payments service for overseas travelers. Dubbed the Cross-Carrier Payment System (CCPS), the project sees the LG mobile carrier arm collaborate with partners in Japan, Taiwan and the United States to enable global mobile payment services among
The post LGs Mobile Carrier to Offer Blockchain Payments for International Travelers appeared first on CCN
The U.S. Department of Justice has won the right to confiscate money and items Alexandre Cazes enjoyed from his dark web e-commerce empire's riches.
Despite Chinas crypto crackdown, a Chinese cryptocurrency enthusiast recently embarked on a twenty-one-day journey to survive solely on a small stash of Bitcoin, no more, no less.
When it comes to cryptocurrency diehards, there isnt anyone as committed as China-based crypto proponent He You Bing, who recently took to Chinas streets to begin her 21-day challenge that revolves around the day-to-day use of Bitcoin. Oddly enough, the You Bing part of her name is colloquially used as an insult, as the two Chinese characters can be read as having a disease/problem, while her whole name, as TechCrunch puts it, alludes to the girls over-enthusiasm for bitcoin.
Regardless, as chronicled on iQiyi, one of Chinas Netflix equivalents, He You Bing is supposed to survive for 21 days on only 0.21 Bitcoin, or $1,350 at the time of writing, with her self-imposed rules dictating that she couldnt have anything on her person at the start of the challenge except for her phone. The initial goal was for her to obtain a sufficient amount of food, proper accommodation, and the basic necessities all via a Bitcoin wallet on her phone, all while being situated in Beijing and Shenzhen, two booming metropolises on the east coast of China.
And although the challenge is nearing its end now, it is interesting to look back at her unique, yet eye-opening experience.
At first, the enthusiast ran into some issues, to put it lightly, with virtually all of the vendors she approached revealing that they do not accept Bitcoin or crypto assets in general, nor understand the concept of what cryptocurrencies are and what they do.
Moreover, her first win, so to speak, wasnt even related to Bitcoin, as she found an unlocked rental bike that she used to traverse around Beijing. As such, she had to survive on ketchup packets and supermarket sample products, while sleeping at a fast food restaurant on her first day out in the concrete jungle.
Surprisingly, the trials and tribulations of the first day didnt make her second and third day any better, in fact, it can be argued that those days turned out to be much worse, as she ended up in the hospital from a lack of nutrition and a stomach illness from foraged fruits and a leftover burger. But as He You Bings story gained traction across the Chinese intranet, other enthusiasts like herself began to flock to her side, with over 3,000 individuals forming...
Wirex, the popular European crypto card provider, has announced its expanding to Canada and we have the details covered in The Daily. Also in the rubric, the Coin Stats mobile app now synchronizes transactions from several exchanges, a coin claiming to have AML and KYC features is listed on a major exchange, and the UK government is asked about its assessment of recent crypto market developments.
UK-based crypto card issuer Wirex is expanding its operations...
BTC is circling $6,500 and ETH trades close to $220, amid a checkered market outlook
Two cash-strapped football clubs are trying to circumvent financial issues by planning a tokenized crowdfunding round, reports the Times. Newcastle United and Cardiff City, the English Premier League teams, are reportedly in talks with SportyCo, a decentralized sports investment & funding platform, to launch their Initial Coin Offering (ICO) round. SportCo has earlier partnered with Ava
The post Two [Cash-Strapped] Premier League Football Clubs Plan to Launch Cryptocurrency appeared first on CCN
Zimbabwes new finance minister: Switzerland should be crypto regulation role model
Bitcoin's corrective rally seems to have stalled around $6,550, making it a key level to beat for the bulls.
As funding for ICOs drops amidst a regulatory crackdown by the US Securities and Exchange Commission, investors are turning to a new type of cryptocurrency investment vehicle in order to invest in projects: security tokens.
Following the surge in the ICO markets that occurred towards the end of 2017 and into 2018, many investors were lured and disappointed by the promises of token offerings that made bold and unprecedented claims as to their intended uses and future pricing success. More recently, however, global ICO funding has plummeted due to looming actions by global regulators to shut down companies offering tokens that fall into the definition of a security.
In the month of August, cryptocurrency and blockchain startups raised a mere $326 million, the smallest amount raised since May of last year, signaling that investors are beginning to fear the impact of their investments being deemed as unregulated securities.
The difficulty for ICO investors is discerning what type of token the ICO they are investing in is offering: a utility token or a security token. Utility tokens are classified as tools, not investments, that provide a specific solution to an existing problem. Security tokens, on the other hand, are classified as being an investment in a specific company or project, with the goal of generating investors profit through the success of the connected project.
If a token falls under securities laws, which are similar across global regulatory agencies, it will be subjected to a host of specific rules and requirements by regulatory agencies.
Recently, a US District Court Judge ruled that ICO offerings are covered by securities laws, meaning that unless the token offered by an ICO is unquestionably a utility token, it falls under securities laws and can be regulated as such.
The ruling came about during a case against Maksim Zaslavskiy, who had been offering an ICO to investors with the promise that the tokens were physically backed by real estate and diamonds. Federal prosecutors used the classification of ICOs as a key point of their case, arguing that Zaslavskiy had offered investors an unregistered security product.
The judge agreed with this reasoning, noting that:
Congress purpose in enacting the securities laws was to regulate investments, in whatever form they are made and by whatever name they are called
The SEC quickly moved to shut down two operations that had been offe...
Trustworthy official government websites have become a prime target for cryptojacking in India, according to new research from local cybersecurity experts
Less than a fortnight since his appointment as Zimbabwes finance minister, the new treasury boss is potentially placing himself on a collision path with the countrys central bank with his pro-cryptocurrency stance. According to Mthuli Ncube, Zimbabwes newly minted Minister of Finance, cryptocurrencies could assist the southern Africa country to solve the cash crunch that
The post Cryptocurrency Could Solve Zimbabwes Cash Shortages: Finance Minister appeared first on CCN
The prospect of Tezos' official launch Monday has revved up investor interest in the project's XTZ token, pushing prices up 30% in a week.
According to Fundstrat analyst Sam Doctor, it appears Bitcoin Core (BTC) hashpower has doubled since just before the start of summer. That figure is impressive considering the lingering and deep bear market. Even with upgrades to existing equipment, implies almost 1GW of new power consumption vs 5.2GW in May 18m Mr. Doctor tweeted. Breakeven now $7,300 ($5,300 cash BE) vs. $6,000 in May. An exchange report confirms miners might also be accepting lower shorter term gains in favor of market position.
As indicators go, increases in the BTC difficulty and hashrate are considered pluses, potentially adding robustness and resilience to the network. That miners might be continuing to plod along in a bear market, and in the face of huge price drops and their own profits, could signal better days for all, concerned proponents are concluding.
One theory about why this might be occurring comes from crypto exchange Bitmex. They claim powerhouse mining operations such as Bitmain have welcomed market prices bottoming out, as it pushes out weaker hands and helps increase its relative position. These low prices are likely to be a deliberate strategy by Bitmain, the exchange explains, to squeeze out their competition by causing them to experience lower sales and therefore financial difficulties. In our view, herein lies the...
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
Imagine a perfect world where the advertisement of your brand is shown only to target audience any time they use their phones. The targeting is based on location, gender, education and other characteristics which gives advertisers and brands only real views for real possible clients. The advertising market launches more and more more application that are developed in accordance with brands requirements and provide a possibility to set detailed configurations and make promotion process simpler. One of the companies has recently launched a mobile application which is claimed to become the next revolution in the advertising market and we are about to tell you why it worths your attention.
According to Statista, there will be 2,5 billion people using smartphones by 2019. Mobile users unlock their phones from 80 to 110 times per day. At the same time, 69% of consumers from 18 to 39 years old use mobile phones for a research of products before purchasing them. Mobile devices automatically become a new channel for brands promotion as people simply cannot imagine their lives without their phones. Applications for smartphones will definitely change the advertising market.
What is the new technology?
Emarketer research states that $101 billion was spent on mobile
ads globally last year which is 5 times more than in 2012.
Spendings in this sector will only increase.
EasyVisual is an advertising network that before the launch of the app has already had a 3,5 million audience in 190 countries including South Korea, China, Vietnam, Poland, Slovakia, Germany, Ukraine, Turkey, Czech Republic, Israel. The company has m...
Monday morning is witnessing virtually no action on crypto markets. They have shown no real movements since the end of last week. Total market capitalization is just over $200 billion and has held that level for the past three days.
Bitcoin is static and has not been able to push towards the next resistance level. BTC is currently trading at $6,480, down very slightly from yesterday. Technicals are indicating more bearish momentum which could drop Bitcoin back to below $6,400. Ethereum also has not moved and is hovering just about $215 at the time of writing.
Altcoins are mixed, half red half green with very little gains or losses either way at the moment. In the top ten Stellar is up almost 2% to $0.204 while Bitcoin Cash has made 1.5% to trade at $445. The rest have not moved since yesterday.
The top twenty shows that only Dash has made any real gains and that is just 4%. It is rapidly catching Cardano which is about to drop out of the top ten. Falling back are Tezos and VeChain which have both dropped 2.5% on the day.
There are a few altcoins pumping at the moment and the one at the top is Aurora. AOA has been climbing all week and is up 70% on the day to $0.036. It has just been listed on KuCoin which is driving todays momentum;
AnnouncementAOA is listed in KuCoin Plus Trading Area
AuroraOfficial(AOA) (@AuroraOffic_en) September 17, 2018
Since last Monday Aurora has made 180%. FunFair, PowerLedger and Waltonchain are all up 10-13 percent on the day. At the red end of the table for the top one hu...
Artist Anna Ridler trained an AI with a data set of 10,000 tulips collected in the Netherlands. The result is a mediation on speculation, the value of beauty, and bias in machine learning.
In 2013, a prominent Dutch banking executive made international news by describing bitcoin as a bubble. This is worse than the tulip mania, he said at the time. At least then you got a tulip [at the end], now you get nothing.
Japanese financial services group SBI Holdings will launch its consumer payments application MoneyTap, on both Android and iOS, using Ripples blockchain technology. SBI Ripple Asia, a joint venture established by SBI Holdings and San Francisco-based FinTech giant Ripple in early 2016, will soon launch MoneyTap, CEO Takashi Okita revealed on his own Twitter handle. MoneyTap
The post SBI Nears Launch Ripple Blockchain Payments App MoneyTap in Japan appeared first on CCN
South Korean telco LG Uplus is to trial a blockchain-based mobile payment service aimed to let travelers save fees when shopping abroad.
A group of Mastercard patent applications outline how blockchain technology can be used to securely record transaction information.
The Korea Customs Service (KCS) has entered an agreement with Samsung SDS to implement the latters blockchain technology for an export customs clearance system. Samsung SDS, the IT subsidiary and technology provider of Koreas largest conglomerate Samsung, will develop the worlds first blockchain-based export customs logistics service for the Korea Customs Service to enable efficiency
The post Samsung SDS to Power Worlds First Exports Customs Clearance Blockchain in Korea appeared first on CCN
Heres what happened this week in Bitcoin in 99 seconds. Coinbase announced the doubling of its February staff count, to 500 permanent members. Coinbase CEO, Brian Armstrong, predicted 1 billion crypto users within 5 years. The SEC suspended the Swedish Bitcoin and Ethereum ETFs within America k
For many short-term speculators, the current cryptocurrency market could be classified as a bore, with prices remaining relatively stagnant, volume figures dwindling, and altcoins failing to see rapid bouts of non-linear price movement, which were so common during last years bull run. Regardless, prices still saw a slight uptick this week, with a majority of crypto assets posting healthy gains.
Following a strong 20 percent sell-off in early September, which was touted as the largest daily dump of the year, Bitcoin and a majority of the foremost altcoins, made a slight recovery this week, with the collective valuation of all crypto assets rising from $196 billion to $204 billion as it stands today. However, it wasnt cut and dried, as the market briefly established a new year-to-date low at $186 billion, in direct correlation with a strong altcoin decline. Ethereum, for one, fell by over 10 percent within a single day, putting its feet up at the $175 price level for upwards of 12 hours.
It has been argued that Ethers aforementioned downward move, which occurred on Wednesday, catalyzed losses across the board. This controversy seems to be water under the bridge now, however, as prices saw a resurgence on Thursday, much to the dismay of short sellers and cryptocurrency naysayers. While the initial rebound was strong, volumes have since dissipated, which has resulted in crypto assets remaining within a shallow, boring range for the past 72 hours.
Market oscillation aside, Bitcoin still saw a strong week, moving from $6,300 to $6,528 in a slow, but steady uptrend that occurred over the past three to four days. Although BTCs move pleased many investors, altcoins unarguably performed better, with Ethereum, Monero, and Tezos, for example, seeing an influx of buying pressure. As a result of the relative altcoin strength, Bitcoin dominance took a slight dip, moving from 55.8 percent to 55.2 percent.
And some feel like this positive price action is set to continue because as we move into Monday morning, all tokens in the top 20, save for a few, are posting one to three percent gains.
This bullish senti...
The debate on whether the central authorities can ever regulate the cryptocurrency industry intensates further with the launch of a Chinese crypto-startup. In a right-in-your-face stunt, InVault begins offering its cryptocurrency custody services last week in China despite the mainland ban. The Shanghai startup proposes to attract cryptocurrency exchanges as its primary clients, believing they
The post Chinas Crypto Custody Sector Is Growing despite the Mainland Ban appeared first on CCN
Japans financial regulator has recently unveiled the current state of the crypto regulations in the country. Three crypto operators are currently being reviewed. With 160 companies wanting to enter the space, the regulator plans to add more personnel to help review new applicants. In addition, a self-regulatory plan for crypto exchanges has also been submitted to the regulator.
Japans top financial regulator, the Financial Services Agency (FSA), published several documents from its fifth crypto study group meeting on Wednesday, September 12. The current state of crypto regulations and exchange registrations were discussed.
Even if ethereum succeeds as a smart contracts platform, its cryptocurrency might still fail as a long-term store of value, writes Michael J. Casey.
Litecoin Price Key Highlights
Litecoin could be in for a reversal from its slide as a double bottom can be seen on its 4-hour chart, awaiting confirmation.
Technical Indicators Signals
The 100 SMA is above the longer-term 200 SMA to suggest that the path of least resistance is to the upside. In other words, the uptrend is more likely to resume than to reverse. However, the gap is pretty narrow so a bearish crossover might be possible while these moving averages also hold as dynamic resistance.
In that case, another test of support around the $48 level could take place. Stronger selling pressure could even spur a break below this level and a continuation of the longer-term downtrend. A break past the moving averages could pave the way for a test of $70.
This would make the double bottom around $22 in height, which suggests that confirmation could spur a rally of the same height. However, RSI is turning south from the overbought zone to signal a return in bearish pressure. Similarly stochastic is heading south so a pickup in selling pressure is due.
Cryptocurrencies seem off to a positive start for the week, though, as there have been no negative reports over the weekend. In fact, the previous trading week ended on a good note with a report suggesting that blockchain industries could add $1 trillion to global trade over the next ten years. With that, market participants appear to be turning their attention back to institutional interest and more M&A activity in the space.
The post Litecoin (LTC) Price Watch: Is That a Double Bottom? appeared first on NewsBTC.
Bitcoin Price Key Highlights
Bitcoin price might be ready to form another double bottom pattern, but technical indicators suggest that bearish pressure is still here.
Technical Indicators Signals
The 100 SMA is still above the longer-term 200 SMA for now but it looks like a bearish crossover is brewing. In that case, selling pressure could pick up and these moving averages could continue holding as dynamic resistance levels.
A break past the $6,600 area, however, could prevent the bearish crossover from happening and allow bullish pressure to stay in play. This could allow bitcoin price to stay on track towards testing the neckline around $7,400. A break past this could lead to a rally of around $800 or the same height as the double bottom.
RSI is on the move down, though, so bears have the upper hand. Similarly stochastic just made its way down from the overbought zone to signal a return in selling pressure. In that case, bitcoin price could revisit the lows at $6,200 or even break lower for a continuation of the slide.
It seems that buyers are starting off on a relatively positive note so far this week, though, as there have been no negative updates over the weekend. Should this sentiment persist, more and more bulls could reestablish their bitcoin positions and sustain the climb.
The anticipation for the SEC bitcoin ETF ruling is building up as we are past the halfway point of the month and the deadline is around the last week of September. Indications that an approval is likely could mean significant gains for bitcoin price.
The post Bitcoin (BTC) Price Watch: Bullish Reversal Pattern Forming? appeared first on NewsBTC.
In cryptocurrency exchange news, Coinbase plans to hire 130 additional staff at its New York office by the end of 2019, a recently announced exchange which will be backed EF Hutton has declared that it will launch before January 2019, and Digifinex has announced that it will replace its USDT pairings for TUSD.
Coinbase has indicated that it plans to hire 130 employees at its newly opened New York office by the end of next year. The hirings would bring the number of staff working at the facility to roughly 150.
We have to create a bridge between financial services...
A combination of over-the-tops Bitcoin price predictions by Tim Draper and favorable developments in the crypto-verse could cement our previous Bitcoin price forecasts. Further strengthening this position is news that Morgan Stanley plans on creating their Bitcoin derivatives. Coincidentally, and more positive for Bitcoin and other cryptos, more hedge funds are looking to funnel their capital into this nascent field.
Tim Draper is a Bitcoin perma-bull and thats a relief for investors who bought at the top and have to contend with 75 percent losses. According to Tim, the disruptive cryptocurrency market cap would explode to a whopping $8 trillion market cap with the Bitcoin leading the charge.
Speaking via video link at the Deal Street Asia sponsored event held in Singapore, Tim said there is one key ingredient that makes Bitcoin and blockchain technology unique and different from the internet. While the internet went after billion dollar industries, blockchain and cryptocurrencies will be disruptive finding use in trillion dollar companies within the finance, insurance, health care and tech sectors. He may be right because regulators from leading global economies as China, US, UK, Canada and India are bullish on blockchain technology thanks to its inherent features prioritizing transparency and efficiency.
He even said last years price acceleration to $20,000 was due to ignorance and this years drop is actually a primer for a pent-up rally that would propel Bitcoin to new highs of around $250,000. At current market cap, thats a massive 400X increase a prospect that will further increasing demand.
From a neutrals point of view, comments from Draper are outrageous but this is not the first time he has emphasized such.
From a long term perspective, the trend is clearly bearish. This is after that market deflating drop of Bitcoin prices from $20,000 peaks to $5,800 late last month.
But, from the chart, the $6,000 mark is a clear support line. Its where sellers have found resistance six times in the last six months. The result is a wedge with floors at $6,000 with an eight month resistance trend line capping gains.
Unless otherwise, we need strong price surges above that resistance trend line at $6,800$7,200 level for buys to be valid. When that happens, Bitcoin pric...
Mark Risher, Googles director of product management, Google Identity, account security, and spam & abuse, recently urged cryptocurrency investors not to brag about their virtual currency holdings online.
In a recent interview with CNBC, Google security lead, Mark Risher, cautioned crypto traders against boasting of their cryptocur...
Since mid-2017, Ethereum hackathons have been held in many major cities across the globe, to encourage the development of decentralized applications (dApps) and blockchain-based systems. ETHGlobal, the biggest Ethereum hackathon organization to date, has played a key role in facilitating the growth of the Ethereum open-source developer community, providing technical workshops, educational talks, and resources
The post How Ethereum Hackathons are Drastically Improving Blockchain Systems appeared first on CCN
Though EOS, Cardano, Monero, Stellar Lumens and Litecoin price analysis portray positivity, we are yet to see strong gains safe those of early last week. Litecoin news of Gemini listing coupled with Abras addition of Cardano (ADA) are bright spots but first Cardano prices must rise above 7 cents nullifying current sells.
Despite low level consolidation, EOS is up five percent in the last week. The result is a thrust back to range mode. As it has been the case over the last four or five weeks, EOS prices continue to steady inside the $3 range between $4 main support and $7 resistance line, a level which has been successful in capping gains.
Though yesterday was stable, our previous EOS price analysis holds true and longs are valid. Thats unless there is a dip below $4 invalidating this recovery. After all, EOS prices are still in consolidation and moving inside buy triggering Sep 13 high lows. This means sellers are finding resistance elevating buyers chances of driving prices towards the all important $7 bull target.
Nigerian authorities have demanded that HSBC Bank returns about $100 million that late dictator Sani Abacha looted from the oil-rich West African country, allegedly with help from the British multi-national bank.
President Muhammad Buhari has demanded HSBC Bank returns up to $100 million it allegedly helped former dictator Sani Abacha launder from the Nigerian economy.HSBC bank
Abacha ruled Nigeria with an iron fist for five years until he died of a heart attack in 1998. During his rule, the Nigerian...
Cryptocurrency lawsuits increased threefold in the first two quarters of 2018 compared to the whole of last year. This is according to a report prepared by Lex Machina, a legal analytics firm. Last year, the number of cases mentioning bitcoin, cryptocurrency or blockchain amounted to just 15 ,but in the first and the second quarters Continued
The post Buyers Remorse? Cryptocurrency Lawsuits Have Tripled Since 2017 appeared first on CCN
Crypto markets are seeing a mix of red and green, with some small fluctuations and total market cap holding position
Popular Ethereum wallet MyEtherWallet (MEW) has recorded more attempted attacks by hackers than Fortune 500 banks, according to reports from leading cybersecurity firm Segasec. Segasec has been responsible for defending MEW from malicious attacks. Such attempted attacks dont come as a surprise, knowing the amount of valuable Ethereum tokens accessed through the MEW platform. As Continued
The post This Ethereum Wallet is Targeted by More Attackers than Fortune 500 Banks appeared first on CCN
A growing number of crypto exchanges in India have announced the return of fiat deposit and withdrawal support despite the crypto banking ban imposed by the countrys central bank. Several other exchanges in the country also allow their users to use Indian rupees to buy and cash out cryptocurrencies through their exchange-escrow peer-to-peer (P2P) services.
Since the crypto banking ban by the Reserve Bank of India (RBI) went into effect in July, crypto exchanges in the country have been deprived of banking services. Many of them subsequently shut down their INR support, disallowing users to make deposits and withdrawals in Indian rupees. The Supreme Court of India is scheduled to hear petitions against the ban next week.
However, recently at least three crypto exchanges in the country have announced the return of INR deposit and withdrawal support despite the RBI ban.
On Wednesday, September 12, crypto exchange Koinex announced that it has brought back INR deposits and withdrawals through its P2P system, stating:
We are happy to announce the revival of INR in the crypt...
Binance, the biggest global crypto exchange, will start closed beta testing of a new crypto-fiat exchange in Singapore on September 18
Blockchain security startup Bitgo has announced that it has received regulatory approval in the U.S. to offer cryptocurrency custody services. With the move, BitGo becomes the latest company to throw its hat into the crypto custody ring as the market prepares to welcome large institutional investors who have previously been put off by cryptos substantial
The post BitGo Receives Approval to Operate as Regulated Cryptocurrency Custodian appeared first on CCN
Charles Hoskinson, the co-founder of Ethereum and Cardano, entered the cryptocurrency sector when Bitcoin was valued at just over $1. Since then, the infrastructure supporting the market and blockchain systems has changed drastically, at an exponential rate. In an interview with Mpho Dagada, Hoskinson, the CEO of IOHK, a technology company that leads the development
The post Ethereum Co-Founder Invested in Bitcoin at $1 in 2011, Whats Changed? appeared first on CCN
This week Dutch authorities revealed to the public that the Netherlands largest financial services provider, ING, had violated numerous money laundering laws because they didnt scrutinize unusual transactions and certain accounts.
Over the last few weeks, many large financial institutions have been investigated and charged with helping facilitate money laundering. Financial crime prosecutors from the Netherlands have charged the Dutch bank ING with violations, and a $900 million dollar fine because the financial institution unwittingly helped facilitate money laundering. The Dutch police explain its impossible to really estimate how much money was actually launder...
New stablecoin Gemini dollars transactions can be completely altered and made non-transferable every 48 hours, blockchain research proves
The European Union has come in for criticism over its repeated attempts to regulate the web. Critics assert that waves of EU legislation are suppressing free expression, impairing the user experience and, most heinously, killing memes. The solution, for those who take this view, would appear to be simple: dont hate on the EU defy them.
The European Union has the power to make internet laws, and its been exercising that right with gusto of late. When it comes to enforcing them, however, its powers all but evaporate. This is an important distinction to note. A lot of the headlines surrounding the passing of copyright laws Article 11 and 13, and the recent GDPR data protection legislation, are hyperbolic. Thats not to say there arent valid concerns to be raised over the implications of these laws, but the media, as well as the webmasters obliged to implement the EUs directives, have missed the point.
Once again in the world of cryptocurrency, we have a mystery on our hands. A $720 million sleeping giant has woken up after four years, with $100 million moved to Bitfinex and Binance over the course of ten days at the end of August. The bitcoin wallet contains 111,114 BTC or 0.52% of the total supply. The sudden
The post This Dormant $720 Million Bitcoin Wallet Has Woken Up But Who Owns It? appeared first on CCN
The SEC and FINRA scold some alleged crypto scams, the Winklevoss twins pop out a new stablecoin, and more in this weeks Hodlers Digest
Industry buzz surrounded Ethereum this week as community members
await the next stage of the coins development. The protocol also
served as the jumping-off point for a new fully regulated
Also in regulation, a New York judge issued a ruling this week that, if held up by a jury in court, could set a legal precedent for ICOs as securities; in other courtroom drama, the spaces longest running suit between two of its biggest players draws to an undisclosed close.
All the while, institutional-grade products and services continute to come to light.
Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here.
Following November 2018s DevCon 4 in Prague, Czech Republic, Ethereum will be due for an upgrade. Constantinople, as the hard fork is called, will implement five Ethereum Improvement Proposals (EIPs), introducing such changes as a a revamped gas scheme for transactions and reduced block rewards. To the common user, these EIPs are unlikely to cause too many noticeable changes, but they will give developers more creative and technical leeway when building DApps on Ethereums Virtual Machine.
Winklevoss-owned Gemini exchanged launched a stablecoin this week built on Ethereums ERC-20 standard. Endogenous to the exchange, which is fully regulated under New Yorks Bit Liscense, GeminiUSD (GUSD) was dropped without prior disclosure or media priming. The same day, settlement platform Paxos released its own stablecoin, the Paxos Standard (PAX).
Morgan Stanley is reportedly working toward a way into the the cryptocurremcy market. The legacy financial institution has been developing a institutional-grade bitcoin derivative that is tied to futures prices, a source close to the matter told Bloomberg this week. While the product is ready to go to market, Morgan Stanley is waiting to launch it until investor demand i...
With my last couple of articles, Ive taken the discussion away from price and volume, as I wanted to focus on the underlying bitcoin infrastructure and governance model, as well as on the technology developments that will push adoption. I believe it was worth it, as we really need to understand how this new distributed infrastructure and
From time to time we all need a reminder that Bitcoin is much more than just an asset that can be checked on a daily price chart. Peter Thiel reveals that he believes the crypto vs AI dichotomy will shape the future of humanity, presenting us with a choice between a Big Brother totalitarian government and a world of greater liberty.
Peter Thiel, the Paypal co-founder and venture capital billionaire known to be long on Bitcoin, has given a lengthy interview on The Rubin Report discussing his views on...
We had the opportunity to interview Sam Cassatt at TechCrunch Disrupt SF. Sam is the Chief Strategy Officer of ConsenSys and has great involvement throughout the organization. Sam has an interesting background in that he worked on biocomputation in the field of Cognitive Science at John Hopkins and then consulted around the topic for years. Continued
The post Interview: Ethereum Development Studio ConsenSys CSO Sam Cassatt appeared first on CCN
The valuation of the crypto market has dropped from $205 billion to $199 billion, as Bitcoin dropped below the $6,500 mark once again. In the past three hours, the crypto market has rebounded by $2 billion to $201.5 billion, demonstrating some resilience in the $200 billion region. ETH, the native cryptocurrency of the Ethereum blockchain Continued
The post Dropping Bitcoin Volumes Brings Minor Market Retreat, Where Next? appeared first on CCN
Koreas LG UPlus is launching a blockchain-based cross-carrier overseas payment service together with Taiwan-based Far EasTone, Japans SoftBank and U.S.-based TBCASoft
Binance, the leading cryptocurrency exchange, has announced it will start testing a fiat-to-crypto currency trading platform in Singapore and weve got the story in Sundays edition of The Daily. Also, two islands in Russia are competing to host the countrys first regulated exchange, and the ECB says Europe doesnt need a central bank issued crypto. However, Ukraines national bank is advancing with its plans to issue a digital coin.
Binance, currently the largest crypto exchange by daily trading volume, will soon be testing a new fiat-to-cryptocurrency exchange in Singapore. The news was spread on social media by Changpeng Zhao, the Chief Executive Officer of the Chinese-run trading platform. I just slipped that we will begin #Binance Singapore fiat exchange live money closed beta testing on Sept 18, in 3 days. Invitation only first. Exciting! CZ said in a tweet this Saturday referring to his announcement during a crypto event in the Asian country. The new exchange will initially open in beta with an undisclosed number of invited users trading in a closed testing environment. The launch is scheduled for September 18. No further details have been revealed yet....
Here at NewsBTC we believe that education and knowledge is fundamental to the wider adoption of cryptocurrencies and growth of the blockchain industry. We will be expanding our education section by delving deeper into some of the machinations and technology behind the blocks. Our weekly articles aim to provide a greater understanding of how things work in the crypto ecosystem.
Following a number of attempts at a digital currency, the most successful being B-money, the enigmatic Satoshi Nakamoto began working on his whitepaper in 2008. In October of the same year it was published, titled Bitcoin: A Peer-to-Peer Electronic Cash System.
The nine page paper outlined the design and justification for a digital currency with the intention of doing what no other attempt could do before: create an anonymous, trustless, decentralized currency.
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers.
The proof-of-work protocol was developed from Dai Weis B-money in order to enforce a one CPU one vote policy as outlined by Nakamoto in his now famous paper. Unlike traditional money, Bitcoin was also designed to be a deflationary currency, meaning that there will only be a limited amount of them that will ever exist, specifically 21 million. The reward miners get for finding each new block decreases over time and is halved every 210,000 blocks, approximately every four years. It started off at 50 BTC and is currently 12.5 BTC.
Satoshi was not fond of the modern banking system, particularly fractional-reserve banking whereby a bank accepts deposits, makes loans or investments, but is required to hold reserves equal to only a fraction of its deposit liabilities.
According to Wikipedia, Nakamoto claimed to be a man living in Japan, born on 5 April 1975. The true identity remains a mystery however there has been several claims to Bitcoin creation fame over the past decade and a lot of speculation. These included Australian academic Craig Wright who was proved to be a hoax, and more recently SpaceX founder Elon Musk who has denied the claim.
In the ear...
Tezos, the eighth largest initial coin offering (ICO) in history, is launching its mainnet on Monday. Ahead of its mainnet launch, the price of XTZ, the native token of the Tezos network, surged by more than 50 percent. Since September 9, XTZ has increased by over 52 percent from $1.15 to $1.75, prior to its Continued
The post Tezos Surges 50% in a Week Ahead of Scheduled Mainnet Launch on Monday appeared first on CCN
Amid regulatory uncertainty, the ICO industry has all but cut off retail investors. But will a new model open it up again? Civil is testing it.
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