In this article, you will be introduced to 10 awesome uses for cryptocurrencies that will provide you with reasons to own them beyond just their potential increase in value.
Archives for May 21, 2018
The ARK Innovation ETF (ARKK), one of the first exchange-traded funds to invest in bitcoin, has divested much of its bitcoin holdings, citing regulatory and tax concerns, according to CNBC. Last year, ARKK won ETF.com’s “ETF Of The Year” award for fulfilling its goal of providing access to disruptive technology. It won this award in
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The Four Seasons Hotel Hong Kong (香港四季酒店) in the city’s financial center is this week’s spot for Roger Ver’s weekly video update, a project started just about a month ago. He’s joined at the five-star retreat for the episode by Ryan X. Charles, CEO of Yours.org. The two men discussed their participation in an international conference and revealed an exciting future for decentralized, censorship resistant, cash.
Ver and Charles Make an Entertaining, Informative Pair
“Everybody’s been excited about ‘bcash’ for quite a while,” Roger Ver (CEO of Bitcoin.com) smiled and giggled with joy at the delicious irony. “So, it’s finally here everybody!” A very relaxed Mr. Ver has taken to making weekly videos, highlighting his work within the bitcoin cash community. He was prompted to laughter by Yours.org co-founder and CEO Ryan X. Charles, joining Mr. Ver for a one-off video recently. Both men were in the glow of Antiguan entrepreneur and Coin Geek owner Calvin Ayre’s latest Hong Kong conference. Overlooking Victoria Harbour, viewers soon notice there’s a third presence in the background. Turns out, the famous International Commerce Centre building in West Kowloon, all 1,587.9 feet of it, can be seen during its LED light show.
They were laughing at the name Purse.io chose for its latest product, bcash. When trolls wish to hector bitcoin cash supporters they often employ the name. Well, the two CEOs remarked gleefully, now the association has a real use case. It’s a fork of bcoin, a full node implementation, and both agreed they’d be employing the innovation. The Purse.io adventure parallels the ecosystem’s, as viewers come to find out. Mr. Charles prompts Mr. Ver into expanding on just why Mr. Ver was such a heavy proponent and user of the tech.
Mr. Ver explained how he used Purse.io for a great many business transactions, for nearly everything. When bitcoin core (BTC) fees became untenable for transactions, he left the service altogether, cashing out his remaining BTC for bitcoin cash (BCH). With Purse.io continuing to innovate and adapt, accepting BCH and offering a handy 15% discount on Amazon purchases, Mr. Ver happily encouraged viewers to return to the service. And indeed there does seem to be a resurgence in so-called micropayment tech, as more and more businesses transition to BCH.
Fast and Furious
Mr. Charles then raves about Openbazaar’s move into decentralized cryptocurrency exchange, a very big deal in the community. Traditional exchanges ask quite a lot of potential users, with frictions in onboarding and withdrawal, not to mention invasive personal questions. They’ve long gone against a basic aspect of crypto philosophy. Mr. Ver explained the store at Bitcoin.com will also sell its goods and services on Openbazzar.
Continuing on the micropayment innovations, both praised Mr. Charles’ latest project, the Money Button. The days-old tech is a spin on Yours.org’s BCH micropayment social media concept. Mr. Charles’ content providers asked for an API usable on their own proprietary websites; a money button, if you will, for the internet. The Yours.org CEO describes the Money Button as similar to pressing Like on Facebook. The prototype looks to be pretty amazing and transformative if the tech holds up: imagine every site surfed, readers and viewers had the ability to tip in fractions of BCH as a show of appreciation. Mr. Charles is careful to stress it is still not ready for large scale deployment, but he does want folks to give it a try over the next two months in the hopes of gaining feedback and working out bugs.
These are just
From our charts, Ethereum is reversing previous losses and week over week it’s up one percent though chances of further upsides exceeds that of sell pressure. While I remain upbeat, we must take caution and note that May 11 Ethereum highs at $750 is a strong resistance line. Technically-and considering our analysis, it is a liquidation line and an upper limit of May 11 upper limit short covering. If there is elevation in Ethereum bull market participation and prices thrust above this resistance, then we can ramp up longs in lower time frames.
From the News
It’s only three days before the much publicized Tron Virtual Machine (TVM) goes live and the Tron Foundation have their baits in Ethereum waters. Without wasting time, they are quick to act and are promising developers a wide array of benefits should they want to shift building environment and migrate to Tron.
Through a Tweet, Tron declared that they were creating this easy to use, seamless development platform where Ethereum DApp developers can easily change camps. Besides effortless migration, developers were told they shall easily secure a $100,000 loan. These loans are interest free in the first 18 months and serviced in the next 18 months either in USD or TRX when due. Furthermore, Tron guarantees a blockchain that would process 10,000 TPS unlike Ethereum which is struggling with speed especially when it peaks.
— Tron Foundation (@Tronfoundation) May 4, 2018
On the other side, there are still many questions that lingers when it comes to BTC-ETH relationship. One of the loudest questions we keep asking is when “Flappening” will happen? Of course, we all know that most alt coins derive value not only from BTC but from ETH especially if we consider that most ERC-20 tokens ride on Ethereum and have an obligation to pay network fees in ETH. This creates demand. Growth wise, the expansion in BTC valuation has been slow whilst Ethereum token projects with Proof of Concept register double digit gains as Bitcoin value stagnates below $9,000. In my view, Roger Ver assertions are likely to come to pass. In that case, Bitcoin dominance shall wane as Ethereum slowly but surely takes the mantle.
Ethereum (ETH) Technical Analysis
On the charts, week ending May 6 is significant in our analysis. While many foresaw a situation where prices would continue edging higher after that climactic price and surge in volumes, there was a contrarian price action because ETH sellers drove prices lower. Now, for better perspective we shall bring to light recent technical developments in the last two weeks.
First, notice that both candlesticks have long lower wicks signaling ETH buy pressure. Secondly, despite incessant bear pressure by week ending May 20, sellers didn’t break past Week ending May 6 lows at $620 which by the way was near our main support at $600. These candlestick characteristics alone reveal that recent moves were actually long coverings and for buyers to be truly in charge, we need to see strong up-thrusts complete with strong volumes past $750. $750 is the edge past this lower-time frame consolidation and resistance capping price moves.
Representing those long lower wick in the weekly chart are series of bulls in the daily chart. While May 12 did reject lower prices despite high volumes, it’s the follow through that cements our bullish sentiments. Realize that after May 12, prices are still moving horizontally but within May 11 bear candlestick meaning either we might see a bullish break out at $750 or short covering liquidations at that level. So, I would like to see price reacting at $750. In case there is a break above, I recommend buys with first targets at $850.
The post Farmers are Clogging the Ethereum Network: Ethereum (ETH) Technical Analysis (May 22, 2018) appeared first on NewsBTC.
Apart from Tron, most coins didn’t register impressive gains as May 20 price action. Nonetheless, we still expect market participants to bid up the likes of Tron, IOTA, and EOS and to some degree, Stellar Lumens which has been characteristically low key. I would also recommend keeping an eye on Litecoin today. We expect price moving events for EOS and Tron in the next few days so I buying on dips would be a safe trading tragedy in my view.
Let’s have a look at these charts:
Undoubtedly, EOS is an exceptional product that promises to change discourse of DApps development and narrative. We can rave about it but let’s understand that while they pride on decentralization, they need expertise from knowledgeable developers to sharpen their technological edge. That’s simply inevitable.
Now, here’s the thing. Not many people know the inner workings and the development aspect of EOS. As such, there is a bit of knowledge dependency, a centralization of some sort and that’s what creates a catch 22 situation. To break this, Dan Larimer and Block One announced that they shall be working with Virginia Tech in a $3 million education drive meant to enlighten students on blockchain technology.
Price wise, EOS sellers are in charge reversing May 20 gains. While volumes are not that great, we are likely to see higher highs set in motion by May 18 double bar bull reversal pattern and rejection of lower prices. To reiterate, our trade plan remains constant and we shall continue buying EOS on dips at lower time frames with ideal stops below $12.
Litecoin (LTC) Analysis
There is nothing much from the news other than the fact that Litecoin remains a choice for merchants. Like most coins, Litecoin is safe, fast, valuable and above all allows interoperability via atomic swaps. The latter is a beneficial for merchants because they can draw from both set of coin holders seamlessly.
On the chart, prices are down despite yesterday’s positive moves. In my view, I really think there are more upsides regardless of the general bear trend. I recommend buying on dips on lower time frames ideally at or around $130 spring board zone. That’s where LTC buyers found support.
Stellar Lumens (XLM) Analysis
So, KIN is running a test net after forking from the Stellar blockchain? This came faster than anticipated and whether prices would be affected or not, the chart would point out. As it is, this event is a non-issue and Stellar Lumens is doing just fine despite the five percent drop in the last 24 hours.
Now, even though we have a bullish inclination on Stellar Lumens, prices are oscillating within a tight price range and in my view, buyers should find ramping opportunities at this valuations.
However, on a more conservative note, those who need assurance can find better opportunities when prices print above May 17 highs at 35 cents. Before then wait for long entries in intra-day charts and initiate trades in line with our laid out trade plan.
Tron (TRX) Analysis
In our liquidity chart, Tron is at position nine and up three percent in the last 24 hours. That’s not a bad feat and it is what we wanted to see after yesterday’s 18 percent price explosion past minor resistance at 7.5 cents. Matter of fact, relative to other coins, Tron is outperforming.
Now, as TVM launch nears, Tron has an objective of drawing experience and expertise from Ethereum developers. To enable this, they are promising a $100,000 interest free loan in the first 18 months, a blockchain guaranteeing a 10 TPS and easy migration done via an adapter. Of course, this is tempting and unless we see main developers shifting camps, this initiative would be in vain.
Technically, yesterday’s position is still valid and for those who didn’t hitch the initial ride, buying on dips anywhere between 7.5 cents and 8 cents is ideal. Targets are at 10 cents with stops at 7.5 cents.
IOTA (IOT) Analysis
Of course, IOTA is forging the way for an IoT environment and a world of interconnection. It’s futuristic and the good thing is that’s where we are headed. For traders, IOTA bodes well in the grand scheme of thing especially if we illuminate this from a user case perspective.
I’m net long on the long haul and just like yesterday’s IOTA trade plan, I recommend buying on dips at or around $1.5. However, on the other hand, conservatives should stay put and wait for break above $2 or May 17 highs which binds recent price moves.
The post John McAfee: “Expect Top 10 Coin Prices to Blow Through the Roof! Institutional Investors are Aching to Go”: Tron, EOS, Litecoin, IOTA and Stellar Price Analysis (May 22, 2018) appeared first on NewsBTC.
As a not-so-typical startup in the Valley, Coinbase is exploding with customer growth. The exchange now manages over 20 million customer accounts, which is nearly as many as Fidelity Investments and twice as many as Charles Schwab, according to a report by the Washington Post. Also, in much the same manner that has spanned the
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After delving into the world of cryptocurrencies one can see that good majority of digital asset proponents are big fans of privacy and anonymity. Just recently a spreadsheet document was published that lists the top privacy-centric coins and the various differences between them. The paper called “Privacy Coin Matrix,” allows enthusiasts to see a comprehensive list of cryptocurrency networks that focus on promoting financial privacy.
Also read: Marvel, The Simpsons Go Crypto
Introducing the Privacy Coin Matrix
A Google Docs’ spreadsheet has been recently published on the wide variety of cryptocurrencies that aim to bolster financial anonymity. The paper is very comprehensive and includes various details about each coins’ attributes strewn across a very long spreadsheet. Coins that are present in the ‘Matrix’ spreadsheet include Bitcoin Core (BTC), Monero (XMR), Zcash (ZEC), Dash, Verge (XVG), PIVX, Bitcoin Private (BTCP), and more. There are a total of twenty cryptocurrencies listed, alongside some relatively unknown coins like Zoin (ZOI), and Colossus Coin (COLX). There are a bunch of privacy-centric coins missing from the list as well such as anon tokens like Boolberry (BBR), and Bitcoin Dark (BTCD).
There are fourteen separate sections that distinguish each coin such as the asset’s summary, features, resources, trading, supply and distribution, wallets, and privacy benefits. With each section summarizing the protocols’ features it can give a reader an in-depth look at how much privacy these networks actually give to users. For instance, in the ‘privacy’ section, readers will likely get the most information concerning anonymity methods. Both Bitcoin Core (BTC) and Ethereum (ETH) mentioned in the list fail miserably when it comes to nearly everything privacy related.
Some Coins Offer Very Little Privacy, Scaling is Dependent on Unfinished Second Layer Solutions, and Others Have No Wallet Support
The lists details that other coins such as Monero, Zash, Particl, Bitcoin Private, Zencash, Zclassic, and Sumocoin obfuscate a recipient, and a senders’ transactions with certain features. Anonymity protocols these coins use are methods like ring signatures, stealth addresses, and zsnarks (zerocoin). According to the Matrix spreadsheet many of the other coins mentioned like Dash, and Colossus show no cryptographic privacy, and they depend on techniques like Coinjoin. Further, the list also details whether or not the coins have an auditable supply and a trusted setup.
The coins’ ability to scale is also a section worth reading as it shows which cryptocurrencies have begun to scale through forks, and others waiting on technologies like Lightning to come to fruition. Other technologies mentioned in the scaling section include masternode protocols, bulletproofs, and other second layer options. Lastly, some of the coins mentioned have wallet implementations across most clients created within the industry, while other coins have very little wallet support making utility very difficult for coins like Phore, Zoin, Colossus, Spectrecoin, and Sumokoin.
Matrix List Cuts Through the Anon-Coin Hype
Besides this list, there are more anonymity focused cryptocurrencies in existence that claim to provide significant privacy for users utilizing these networks. However, the Matrix spreadsheet cuts through all the anon-coin hype, headlines, and shilling taking place across the web by separating features, attributes, and facts, into a list of things cryptocurrency proponents care about.
What do you think about the Privacy Coin Matrix spreadsheet? Are there privacy coins that you didn’t see mention in the Matrix list? Let us know your thoughts on this subject in the comments below.
Images via the Matrix, The Wachowski Brothers, and the Matrix spreadsheet.
Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around
UK foreign exchange trading platform operator LMAX has announced that it will launch a cryptocurrency exchange tailored for banks, hedge funds, and other institutional investors. The London-based company made the announcement on Monday, explaining that the new platform — dubbed LMAX Digital — is the “first physical crypto currency exchange dedicated to serving only institutional
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The advent of the cryptocurrency market is mimicking that of some of history’s most failed monetary experiments, according to Robert Shiller.
Shiller: ‘No One Can Explain How Cryptocurrencies Work’
Writing in a new blog posted today, the Yale professor and Nobel-winning economist wrote that enthusiasm for the cryptocurrency market remains strong despite warnings that it could be a scam. ‘One must bear in mind that attempts to reinvent money have a long history,’ he said. Yet, while new monetary innovations create excitement to begin with, they fail to last, he added.
As an example he cited Josiah Warner, who in 1827 opened the ‘Cincinnati Time Store’ that sold merchandise in units of hours of work. These relied on labour notes, which resembled paper money; however, while they were considered a sign of importance of working people, the store closed in 1830.
Undeterred by Warner’s failure, two years later Robert Owen attempted to create the National Equitable Labour Exchange in London. This relied on ‘time money’ as a currency. Yet, similar to Warner’s attempts Owen’s experiment failed as well, Shiller pointed out.
A hundred years later, during the Great Depression, economist John Pease Norton proposed a dollar backed not by gold, but by electricity. Notably, though, this too failed to catch on.
“Each of these monetary innovations has been coupled with a unique technological story,” wrote Shiller. “But, more fundamentally, all are connected with a deep yearning for some kind of revolution in society.”
In his opinion, cryptocurrencies like bitcoin are no different, adding:
“The cryptocurrencies are a statement of faith in a new community of entrepreneurial cosmopolitans who hold themselves above national governments, which are viewed as the drivers of a long train of inequality and war.”
He goes on to state that similar to past failed currencies, ‘the public’s fascination with cryptocurrencies is tied to a sort of mystery.’
“Practically no one, outside of computer science departments, can explain how cryptocurrencies work,” he said.” That mystery creates an aura of exclusivity, gives the new money glamour, and fills devotees with revolutionary zeal. None of this is new, and, as with past monetary innovations, a compelling story may not be enough.”
This is certainly not the first time that Shiller has spoken out against the cryptocurrency market. Last October, he called bitcoin a ‘fad,’ as he commented on the ‘strange enthusiasm’ for the currency. Earlier this year, he was reported as being conflicted on bitcoin and wasn’t sure whether it would fail or succeed. He’s also said bitcoin is a bubble and that it only attracts investors because it is a good story.
Featured image from Shutterstock.
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Last week, on May 19, former Visa UK and Ireland CEO Marc O’Brien said during an interview with Business Insider’s Oscar Williams-Grut that he has been appointed as the CEO of a cryptocurrency startup called Crypterium. Everyday Payments During the interview, O’Brien, who served as the CEO of VISA UK for six years from 2008
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