https://preview.redd.it/6w93e0afttx41.png?width=1400&format=png&auto=webp&s=c00989612ec2d52eb522405e6b6a98bf875e08bb Version 1.3.0 is a powerful update to TkeySpace that our team has been carefully preparing. since version 1.2.0, we have been laying the foundation for implementing new features that are already available in the current version. Who cares about the security and privacy of their assets is an update for you. TkeySpace — was designed to give You full control over your digital assets while maintaining an exceptional level of security, which is why there is no personal data in the wallet: phone number, the email address that could be compromised by hackers — no identity checks and other hassles, just securely save the backup phrase consisting of 12 words.
Briefly about the TkeySpace 1.3.0 update :
Code optimization and switching to AndroidX;
Selecting the privacy mode;
Selecting the recovery method for each currency;
Choosing the address format for Litecoin;
Enhanced validation of transactions and blocks in the network;
Starting with the current update, the TkeySpace wallet can communicate via the TOR network, includes new privacy algorithms, and supports 59 different currencies. https://i.redd.it/kn5waeskttx41.gif Tor is a powerful privacy feature for those who own large assets or live in places where the Internet is heavily censored.
Tor technology provides protection against traffic analysis mechanisms that compromise not only Internet privacy, but also the confidentiality of trade secrets, business contacts, and communications in General.
When you enable TOR settings, all outgoing traffic from the wallet will be encrypted and routed through an anonymous network of servers, periodically forming a chain through the Tor network, which uses multi-level encryption, effectively hiding any information about the sender: location, IP address, and other data. This means that if your provider blocks the connection, you can rest easy — after all, by running this function, you will get an encrypted connection to the network without restrictions. https://preview.redd.it/w9y3ax4mttx41.png?width=960&format=png&auto=webp&s=972e375fc26d479e8b8d2999f7659ec332e2af55 In TOR mode, the wallet may work noticeably slower and in some cases, there may be problems with the network, due to encryption, some blockchain browsers may temporarily not work. However, TOR encryption is very important when Internet providers completely block traffic and switching to this mode, you get complete freedom and no blocks for transactions.
Confidentiality of transactions (the Blockchain transaction)
The wallet can change the model of a standard transaction, mixing inputs and outputs, making it difficult to identify certain cryptocurrencies. In the current update, you can select one of several modes for the transaction privacy level: deterministic lexicographic sorting or shuffle mode.
Mode: Lexicographic indexing
Implemented deterministic lexicographic sorting using hashes of previous transactions and output indexes for sorting transaction input data, as well as values and scriptPubKeys for sorting transaction output data; We understand that information must remain confidential not only in the interests of consumers but also in higher orders, financial systems must be kept secret to prevent fraud. One way to address these privacy shortcomings is to randomize the order of inputs and outputs.
Lexicographic orderingis a comparison algorithm used to sort two sets based on their Cartesian order within their common superset. Lexicographic order is also often referred to as alphabetical order or dictionary order. The hashes of previous transactions (in reverse byte order) are sorted in ascending order, lexicographically.
In the case of two matching transaction hashes, the corresponding previous output indexes will be compared by their integer value in ascending order. If the previous output indexes match, the input data is considered equal.
Shuffle Mode: mixing (random indexing)
To learn more about how “shuffle mode” works, we will first analyze the mechanisms using the example of a classic transaction. Current balance Of your wallet: 100 TKEY, coins are stored at different addresses: x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY.
Addresses in the blockchain are identifiers that you use to send cryptocurrency to another person or to receive digital currency.
Let’s look at a similar example: you have 100 TKEY on your balance, and you need to send 19 TKEY. x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY. You send 19 TKEY, the system analyzes all your addresses and balances on them and selects the most suitable ones for the transaction. To send 19 TKEY, the miners will be given coins with x2. Addresses, for a total of 20 TKEY. Of these, 19 TKEY will be sent to the recipient, and 0.99999679 TKEY will be returned to Your new address as change minus the transaction fee. https://preview.redd.it/doxmqffqttx41.png?width=1400&format=png&auto=webp&s=5c99ec41363fe50cd651dc0acab05e175416006a In the blockchain explorer, you will see the transaction amount in the amount of 20 TKEY, where 0.99999679 TKEY is Your change, 19 TKEY is the amount you sent and 0.00000321 is the transaction fee. The shuffle mode has a cumulative effect. with each new transaction, delivery Addresses will be created and the selection of debit addresses/s that are most suitable for the transaction will change. Thus, if you store 1,000,000 TKEY in your wallet and want to send 1 TKEY to the recipient, the transaction amount will not display most of your balance but will select 1 or more addresses for the transaction.
Selecting the recovery method for each digital currency (Blockchain restore)
Now you can choose the recovery method for each currency: API + Blockchain or blockchain.
Note: This is not a syncing process, but rather the choice of a recovery method for your wallet. Syncing takes place with the blockchain — regardless of the method you choose.
What are the differences between recovery methods?
API + Blockchain
In order not to load the entire history of the blockchain, i.e. block and transaction headers, the API helps you quickly get point information about previous transactions. For example, If your transactions are located in block 67325 and block 71775, the API will indicate to the node the necessary points for restoring Your balance, which will speed up the “recovery” process. As soon as the information is received, communication with the peers takes place and synchronization begins from the control point, then from this moment, all subsequent block loading is carried out through the blockchain. This method allows you to quickly restore Your existing wallet. ‘’+’’ Speed. ‘’-’’ The API server may fail.
This method loads all block headers (block headers + Merkle) starting from the BIP44 checkpoint and manually validates transactions. ‘’+’’ It always works and is decentralized. ‘’-’’ Loading the entire blockchain may take a long time.
Why do I need to switch the recovery method?
If when creating a wallet or restoring it, a notification (!) lights up in red near the selected cryptocurrency, then most likely the API has failed, so go to Settings — Security Center — Privacy — Blockchain Restore — switch to Blockchain. Syncing will be successful.
Enhanced validation of transactions and blocks in the network
Due to the increased complexity in the Tkeycoin network, we have implemented enhanced validation of the tkeycoin consensus algorithm, and this algorithm is also available for other cryptocurrencies.
What is the advantage of the enhanced validation algorithm for the user
First, the name itself speaks for itself — it increases the security of the network, and second, by implementing the function — we have accelerated the work of the TkeySpace blockchain node, the application consumes even fewer resources than before.
High complexity is converted to 3 bytes, which ensures fast code processing and the least resource consumption on your device.
The synchronization process has been upgraded. Node addresses are added to the local storage, and instant synchronization with nodes occurs when you log in again.
Checking for double-spending
TkeySpace eliminates “double-spending” in blockchains, which is very valuable in the Bitcoin and Litecoin networks.
For example, using another application, you may be sent a fake transaction, and the funds will eventually disappear from the network and your wallet because this feature is almost absent in most applications.
Using TkeySpace — you are 100% sure that your funds are safe and protected from fraudulent transactions in the form of “fake” transactions.
The bloom filter to check for nodes
All nodes are checked through the bloom filter. This allows you to exclude fraudulent nodes that try to connect to the network as real nodes of a particular blockchain. In practice, this verification is not available in applications, Tkeycoin — decided to follow a new trend and change the stereotypes, so new features such as node verification using the bloom filter and double-spending verification are a kind of innovation in applications that work with cryptocurrencies.
Updating the Binance and Ethereum libraries
Updated Binance and Ethereum libraries for interaction with the TOR network.
Function — to hide the balance
This function allows you to hide the entire balance from the main screen.
Advanced currency charts and charts without authentication
Detailed market statistics are available, including volumes, both for 1 day and several years. Select the period of interest: 1 day, 7 days, 1 month, 3 months, 6 months, 1 year, 2 years.
In version 1.3.0, you can access charts without authentication. You can monitor the cryptocurrency exchange rate without even logging in to the app. If you have a pin code for logging in, when you open the app, swipe to the left and you will see a list of currencies.
Transaction verification for Tkeycoin is now available directly in the app.
Independent Commission entry for Bitcoin
Taking into account the large volume of the Bitcoin network, we have implemented independent Commission entry — you can specify any Commission amount. For other currencies, smart Commission calculation is enabled based on data from the network. The network independently regulates the most profitable Commission for the sender.
New digital currencies
The TkeySpace wallet supports +59 cryptocurrencies and tokens.
A HISTORY OF HUOBI Huobi was founded in 2013 by their current CEO and chairman, Leon Li. Li’s background includes having attended Tshingua University, specializing in Automation. Before starting the Huobi Group, Li spent time as a computer engineer at Oracle. In December of 2013, Huobi was named as the largest digital asset exchange operating in China. 2017 saw Huobi extend their limbs into Korea, Singapore, and Japan. Currently, Huobi has headquarters of various financial sectors based in: Singapore; South Korea; Japan; Australia; Indonesia; Russia; Argentina; Thailand; and China. The company has strived to give customers not only a great exchange, but a great resource for any service one may need. Despite the many difficulties faced with Chinese government in regards to cryptocurrency laws, Huobi has managed to adapt to the changes and thrive globally, eventually branching off into various sectors including venture capital, a cryptocurrency wallet project, and a division dedicated to working with mining pools. HUOBI'S PLATFORM spot trading : Huobi offers several different platforms to serve any customer’s needs. For starters, Huobi offers a standard spot trading platform that operates similarly to many other spot trading platforms in the industry. The platform features a multi-timeframe chart, a depth chart, and integration with TradingView (including their tools). Customers are able to view the order book and the asset trading history, as well as their own personal order history. Limit orders, Market orders, and Stop-Limit orders are all available options for traders. margin trading : For the trader that prefers to trade with a little more volume or risk, Huobi offers a Margin trading platform. Customers can apply for loans through Huobi to trade a greater quantity of cryptocurrencies and profit from the price spread. The original loan must be paid back, and accounts can be liquidated if the risk ratio falls below 110% (calculated as: [(Loaned Amount + Tradable Balance) Total Asset] / [(Interest Payable + Loaned Amount)] x 100%.) Traders can margin trade with Bitcoin; Ethereum; XRP; Litecoin; Bitcoin Cash; and EOS. These assets can be traded with USDT or BTC. futures trading : Huobi also offers a Futures trading platform. While margin trading can be risky, trading contracts is said to be very high-risk. With that being said, Huobi offers Weekly, Bi-Weekly, and Quarterly contracts in Bitcoin; Ethereum Classic; Ethereum; EOS; Litecoin; Bitcoin Cash; XRP; TRX; and Bitcoin SV. OTC(P2P) - The OTC, or over-the-counter, section of Huobi offers potential buyers and sellers a way to move large quantities of coins without exposure to the fickle exchange market. Certified merchants can register here, and slippage can be minimized by matching buyers and sellers directly instead of creating market orders. HUOBI APPS While you do have the online trading interface, Huobi does have computer programs and mobile apps that you can use. I found that the PC programmes were more functional as they did not have to rely on the PC browser and were hence much faster. They also have better charting and you are in more control of your trading parameters. These programs are available on Windows and Mac devices. However, if you are a trader that is always on the go, that is where the Huobi mobile apps come in. These were developed for the main exchange but you can switch to the derivative markets on the futures and swaps platform. This was a pretty well designed application and you have one-touch ordering as well as some basic charting functionality. The app is available in iOS and Android and you can head on over to the respective app stores to get a sense of the feedback. EXCHANGE SECURITY Huobi operates a hot and cold wallet storage procedure. This means that they keep the vast amount of their coin holdings in an offline environment away from hackers. They then have a smaller percentage in “hot” wallets with multisig capability. They also operate a decentralized server structure around the world which can ensure uptime irrespective of whether one of the servers goes down. You can think of this as effective load balancing. Finally, they have anti DDoS measures in place. We all know that crypto exchanges are prime targets for Denial of Service attacks and it can be quite frustrating when these are perpetrated in peak market times. IS HUOBI TRUSTWORTHY? Huobi, like many exchanges in the space, has had, at one time, some shady history, but for the most part, has managed to maintain a clean reputation. Historically, Chinese exchanges have shown to operate in accordance with different standards, with many exchanges having to suffer at the will and whim of the Chinese government. Some of the controversy Huobi has seen in the past has been a result of this (particularly with the Chinese ban on ICO tokens). It should be noted that in 2017, the exchange did invest into “wealth-management products” using idle customer funds. This sort of activity shouldn’t be taken lightly. However, with that being said, the exchange continues to turn over a large amount of volume. For the most part, the exchange can be considered a trustworthy platform to trade popular and exotic cryptocurrencies. This does not mean it is entirely safe to store user funds on the exchange, as the exchange (or the user funds) can be susceptible to risk at any given moment. No matter how comfortable one may be with the internet, one should always remember that the internet is not as safe as many would like to believe. Huobi does have measures in place in the unfortunate event that an account is breached, and if verifiable, the customer may be able to retrieve lost funds. A unique feature offered on Huobi is their Official Media Authenticator. This essentially lets users enter the URL of a content channel to see if the channel is authentic. A feature like this, while seemingly simple, could save anyone from potentially losing their funds due to a scam or phishing website. HUOBI REVIEW VERDICT Huobi Global offers a signficant host of features to its users and has maintained its credibility over a long period of time. This is largely one of the main reasons it a ranked as a top 4 exchange by liquidity as its users trust their funds there. After establishing itself in Asia, Huobi is trying to branch out and take on other areas of the globe which is great news for Western traders. Additionally, the Huobi prime platform could provide some great opportunities for the exchange users moving forward. Huobi Website: https://www.huobi.com/topic/invited/?invite_code=q7g23 Huobi Indian Community: https://t.me/huobiglobalindia Huobi Global Community: https://t.me/huobiglobalofficial
Introduction: Greetings, fellow ethtraders! Happy New Year! In the next few months, taxpayers across the US will be filing their 2017 tax returns. As an Enrolled Agent and a ETH/cryptocurrency investor and enthusiast, I wanted to write up a brief guide on how your investments in ETH and other cryptocurrencies are taxed in the US.
1. Are ETH/cryptocurrency realized gains taxable? Yes. The IRS treats virtual currency (such as cryptocurrency) as property. That means if you sell ETH, BTC, or any other cryptocurrency that has appreciated in value, you have realized a capital gain and must pay taxes on this income. If you held the position for one year or less, it is a short-term capital gain which is taxed at your ordinary income tax rate. If you held the position for more than one year, it is a long-term capital gain which is taxed at your long-term capital gains tax rate. In most cases, this is 15%, but could also be 0% or 20% depending on your specific ordinary income tax bracket.
2. If I sell my ETH for USD on Coinbase but do not transfer the USD from Coinbase to my bank account, am I still taxed? Yes. The only thing that matters is that you sold the ETH, which creates a taxable transaction. Whether you transfer the USD to your bank account or not does not matter.
3. If I use my ETH to buy OMG or another cryptocurrency, is this a taxable transaction? Most likely yes. See #4 below for a more detailed explanation. If assuming crypto to crypto trades are not able to be like-kind exchanged, then continue on to the next paragraph here. This is actually two different transactions. The first transaction is selling your ETH for USD. The second transaction is buying the OMG with your USD. You must manually calculate these amounts. For example, I buy 1 ETH for $600 on Coinbase. Later on, the price of 1 ETH rises to $700. I transfer that 1 ETH to Bittrex and use it to buy 37 OMG. I have to report a capital gain of $100 because of this transaction. My total cost basis for the 37 OMG I purchased is $700.
5. How do I calculate the realized capital gain or loss on the sale of my cryptocurrency? The realized gain or loss is your total proceeds from the sale minus what you purchased those positions for (your cost basis). For example, you bought 1 ETH for $300 in June of 2017. In December of 2017, you sold that 1 ETH for $800. Your realized gain would be $800 - $300 = $500. Since you held it for one year or less, the $500 would be a short-term capital gain taxed at your ordinary income tax rate.
6. Which ETH's cost basis do I use if I have multiple purchases? The cost basis reporting method is up to you. For example, I buy my first ETH at $300, a second ETH at $530, and a third ETH at $400. Later on, I sell one ETH for $800. I can use: FIFO (first in first out) - cost basis would the first ETH, $300, which would result in a gain of $500. LIFO (last in first out) - cost basis would be the third ETH, $400, which would result in a gain of $400. Average cost - cost basis would be the average of the three ETH, $410, which would result in a gain of $390. Specific identification - I can just choose which coin's cost basis to use. For example, I can choose the second ETH's cost basis, $530, which would result in the lowest capital gains possible of $270.
7. If I end up with a net capital loss, can I claim this on my tax return? Capital gains and capital losses are netted on your tax return. If the net result of this is a capital loss, you may offset it against ordinary income on your tax return, but only at a maximum of $3,000 per year. The remaining losses are carried forward until you use them up.
9. If I mine ETH or any other cryptocurrency, is this taxable? Yes. IRS Notice 2014-21 states that mining cryptocurrency is taxable. For example, if you mined $7,000 worth of ETH in 2017, you must report $7,000 of income on your 2017 tax return. For many taxpayers, this will be reported on your Schedule C, and you will most likely owe self-employment taxes on this income as well. The $7,000 becomes the cost basis in your ETH position.
10. How do I calculate income for the cryptocurrency I mined? This is the approach I would take. Say I mined 1 ETH on December 31, 2017. I would look up the daily historical prices for ETH and average the high and low prices for ETH on December 31, 2017, which is ($760.35 + $710.12) / 2 = $735.24. I would report $735.24 of income on my tax return. This would also be the cost basis of the 1 ETH I mined.
11. Can I deduct mining expenses on my tax return? If you are reporting the income from mining on Schedule C, then you can deduct expenses on Schedule C as well. You can deduct the portion of your electricity costs allocated to mining, and then you depreciate the cost of your mining rig over time (probably over five years). Section 179 also allows for the full deduction of the cost of certain equipment in year 1, so you could choose to do that if you wanted to instead.
12. If I receive ETH or other cryptocurrency as a payment for my business, is this taxable? Yes. Similar to mining, your income would be what the value of the coins you received was. This would also be your cost basis in the coins.
13. If I received Bitcoin Cash as a result of the hard fork on August 1, 2017, is this taxable? Most likely yes. For example, if you owned 1 Bitcoin and received 1 Bitcoin Cash on August 1, 2017 as a result of the hard fork, your income would be the value of 1 Bitcoin Cash on that date. Bitcoin.tax uses a value of $277. This value would also be your cost basis in the position. Any other hard forks would probably be treated similarly. Airdrops may be treated similarly as well, in the IRS' view. Here are a couple more good articles about reporting the Bitcoin Cash fork as taxable ordinary income. The second one goes into depth and cites a US Supreme Court decision as precedent: one, two
14. If I use ETH, BTC, or other cryptocurrency to purchase goods or services, is this a taxable transaction? Yes. It would be treated as selling your cryptocurrency for USD, and then using that USD to purchase those goods or services. This is because the IRS treats cryptocurrency as property and not currency.
15. Are cryptocurrencies subject to the wash sale rule? Probably not. Section 1091 only applies to stock or securities. Cryptocurrencies are not classified as stocks or securities. Therefore, you could sell your ETH at a loss, repurchase it immediately, and still realize this loss on your tax return, whereas you cannot do the same with a stock. Please see this link for more information.
16. What if I hold cryptocurrency on an exchange based outside of the US? There are two separate foreign account reporting requirements: FBAR and FATCA. A FBAR must be filed if you held more than $10,000 on an exchange based outside of the US at any point during the tax year. A Form 8938 (FATCA) must be filed if you held more than $75,000 on an exchange based outside of the US at any point during the tax year, or more than $50,000 on the last day of the tax year. The penalties are severe for not filing these two forms if you are required to. Please see the second half of this post for more information on foreign account reporting.
17. What are the tax implications of gifting cryptocurrency? Small gifts of cryptocurrency do not have a tax implication for the gift giver or for the recipient. The recipient would retain the gift giver's old cost basis, so it could be a good idea for the gift giver to provide records of the original cost basis to the recipient as well (or else the recipient would have to assume a cost basis of $0 if the recipient ever sells the cryptocurrency). Large gifts of cryptocurrency could start having gift and estate tax implications on the giver if the value exceeds more than $14,000 (in 2017) or $15,000 (in 2018) per year per recipient. Here's a good article on Investopedia on this issue. An important exception applies if the gift giver gives cryptocurrency that has a cost basis that is higher than the market value at the time of the gift. Please see the middle of this post for more information on that.
19. Are there any websites that you recommend in helping me with all of this? Yes - I have used bitcoin.tax and highly recommend it. You can import directly from an exchange to the website using API, and/or export a .csv/excel file from the exchange and import it into the website. The exchanges I successfully imported from were Coinbase, GDAX, Bittrex, and Binance. The result is a .csv or other file that you can import into your tax software. I have also heard good things about cointracking.info but have not personally used it myself.
20. Taxation is theft! I can't help you there.
That is the summary I have for now. There have been a lot of excellent cryptocurrency tax guides on reddit, such as this one, this one, and this one, but I wanted to post my short summary guide on ethtrader which hopefully answers some of the questions you all may have about US taxation of ETH and other cryptocurrencies. Please let me know if you have any more questions, and I’d be happy to answer them to the best of my ability. Thank you! Regarding edits: I have made many edits to my post since I originally posted it. Please refresh to see the latest edits to my guide. Thank you.
Disclaimer: The information contained within this post is provided for informational purposes only and is not intended to substitute for obtaining tax, accounting, or financial advice from a professional. Any U.S. federal tax advice contained in this post is not intended to be used for the purpose of avoiding penalties under U.S. federal tax law. Presentation of the information via the Internet is not intended to create, and receipt does not constitute, an advisor-client relationship. Internet users are advised not to act upon this information without seeking the service of a tax professional.
I recently discovered a crypto trading bot that runs on the telegram desktop and mobil app, called the Sidex Finance Bot. I did a little research and couldn't find any real reviews of the Sidex Bot. There are a few out there but they are all just copy / paste pages on websites that explain the basic details of Sidex Finance and their promises etc. After about a week of reading chat comments on the Sidex Chat thread (on telegram) I decided to transfer over $20.00 from my binance account and see what happens. The Sidex Bot promises to pay you out hourly with some impressive rates. (the below info may not make perfect sense as I copied it from a telegram chat) but its fairly accurate and serves our purposes here. 💸Minimum Invest: $5 (there are different hourly payouts for different amounts invested) ➖Minimum Withdraw: $2 ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ☑️ínvєstmєnt plαns ➤0.15% Hourly / Forever ➤0.25% Hourly / Forever ➤0.35% Hourly / Forever ➤0.45% Hourly / Forever ➤0.55% Hourly / Forever ➤0.65% Hourly / Forever ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 👥Referral System: 8-3-1% ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 📌Payment Accepted ═➤Bitcoin ═➤Payeer ═➤Litecoin ═➤Ethereum ═➤Perfect Money So , I transferred my $20.00 from binance to the Sidex wallet address that I was provided in the sidex finance bot chat. The transaction went through within a couple minutes. I didnt pay attention and I ended up paying a higher fee than I needed to so my actual amount that hit the Sidex wallet was about $16.37 which was crazy that I paid that much in fees but whatever its only a couple bucks and this was more for experimenting anyway. Once you get your verification from Telegram that your BTC or ETH or whatever has hit their wallet, you then need to go into the app and "create a deposit" in order for the bot to begin trading (i assume its trading) You'll will also be show a number that says "X Amount" paid hourly, my number was 0.0246 cents (USD) paid per hour against my "investment" of $16.37 Does it pay? So far, yes! After an hour of running the bot I got my first notice on my phone that my account had a "deposit accrual : 0.0246" and its been happening every hour since I created my deposit on Dec. 14th 2019. So, is Sidex Finance Bot a Scam? at this point I have to say, from my experience, no. I plan to transfer over another $100.00 , which should yield me $3.60 per day according to the calculator located inside the bot. (The key is to build up enough to "reinvest" and begin making more back. Because the minimum "investment" on Sidex Finance Bot is $5.00 , I want to be able to reinvest as quickly as possible without assuming too much risk. I will be updating this community with info about my experiences with Sidex Finance Bot as often as I can, but for now since I figured you are doing research about Sidex Finance Bot, all I can tell you from my experience is that the bot appears to be legit (I make no claims other than , it appears to be legit) . The Chatroom / thread on telegram is pretty active, theres plenty of people posting screen shots of verified payments (again always take this with a grain of salt) I hate to think to the worst of people but you just never know with the internet and the wild west crypto world that we are currently experiencing. If you are still curious about the Sidex Finance Bot you can sign up here on the website https://sidex-finance.com/?ref=7114 Or you can jump strait to the telegram app here (your'e going to need the telegram app installed on your phone or computer) https://telegram.me/sidex_finance_bot/?start=7114 Non of this should be considered financial advice or a "recommendation" of Sidex Finance Bot, you should always do your own research before investing money. Don't ever invest more than you can comfortably afford to loose.
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The fundamental motivation behind why digital currency rose to acclaim is that the entire system is plenarily straightforward. There is the wrong spot for any injustice. The equivalent ought average even from the exchanging bot that you choose to run with. Attempt to winnow a bot whose engineers are unmistakable for their work in the network. Straightforwardness benefits to fabricate trust as well as also profits you to connect with the ideal individuals to adjust any issue.
Simplicity of profit
The entire cogency of running with a robotized bitcoin exchanging is to make the whole procedure of transferring cryptographic forms of money simple for everybody. A bot which accompanies a simple to use interface is the one that is exceptionally well known. Having the capacity to control the bots with only a couple of snaps of the mouse is something you should pay individual mind to, in the bot that you choose to use. Considering every one of the variables we have arranged a rundown of the best ten digital currency exchanging bots in 2019, the review will be unendingly refreshed with the goal that data remains apropos. Top 10 Best Crypto Trading Bots in 2019
This may be a new bot in the crypto exchanging market. In any case, this newcomer has figured out how to blow some people's minds because of the comprehensive exhibit of highlights that this bot gives. One of the defeats of most exchanging bots is that they kept running on your neighborhood machine. This betokens they run just when you have turned on your PC. With the lift in enthusiasm for cloud-predicated advancements, Cryptohopper uses cloud innovation to keep the bot running day in and day out. By running the bot on a cloud, clients will most likely put in exchange requests notwithstanding amid the night. In this manner, no open door is missed. Another critical reason that prompted the lift in the notoriety of Cryptohopper is its simplicity of usage, particularly for the tyro. The bot has incorporated with an outside exchanging signaller. This assigns anybody can initiate using this bot by running it on autopilot. This is a help to the nascent dealers, who need not stress over setting exchanging signals for their bot. The bot withal gives progressively experienced clients a chance to mess around and set their own exchanging signals. Along these lines, it is satisfying the desiderata of both. Aside from this, the bot is incidentally outfitted with highlights, for example, trailing stops, specialized examination, formats, and backtesting. Formats benefit you to design a nascent setting for your bot quickly, and specialized investigation sanctions you to redo and arrange your own settings. Like every extraordinary thing, the crypto container comes with a sticker price fastened to it. The cost starts from $19 every month for the fundamental arrangement and goes up to $99 per month if you operate their most extravagant arrangement. When you buy into any of the organizations, you can start using the bot on prominent trades like Binance, Huboi, Kucoin, Bittrex, Coinbase, Poloniex, Kraken, Cryptopia, and Bitfinex. On the off chance that you are slanted to spend the additional buck on an exchanging bot, at that point Cryptohopper is an extraordinary separate.
Even though 3Commas bot is nascent to the exchanging bot scene, it could give its clients huge increases, notwithstanding amid the crypto bear showcase. The new element that dissevers this bot from other bots is its workforce to trail any crypto advertise. This authorizes the bot to close the exchange at the most profitably excellent position, yet the objective addition set by the utilizer had just been come to. This element benefits enormously amid the crypto bull run. Additionally, the bot adventitiously endorses clients to exchange numerous cryptographic forms of money simultaneously. In this manner, it is not passing up any great exchanging opportunity that goes along the way. The bot is set up on the cloud and is available through the site. This betokens the bot runs 24X7. The bot can be designed with Binance and Bittrex at this moment and increasingly legitimate trades, for example, BitFinex, Poloniex, KuCoin, and so forth will be coordinated anon. The 3Commas comes with a sticker price appended to it. The starter plan will cost you $24, and the most luxurious genius pack would set you back by $82. On the off chance that you operate to give crypto bot exchanging a go, at that point, you could use the 3Commas starter plan and later peregrinate to the more rich schemes.
This is another mainstream exchanging bot with more than 6000 dynamic merchants using its lodging on a quotidian substructure. Good with a few exchanging stages including Binance and GDAX, it very well may be kept running on your nearby PC. This can keep running on Windows, Linus, and the Mac stages, so running on your neighborhood machine would not be a bind. The bot has 32 diverse pre-arranged exchanging systems which give clients a wide cluster of choices to induce some automated revenue. Among these techniques, the three most well-known ones are the Bollinger band, step addition, and ping pong. Numerous clients have detailed having made a bounty of benefits with the BB procedures. Gunbot isn't in freedom to use and accompanies a one-time level rate running from 0.1BTC to 0.3BTC, contingent upon the highlights that you would savor to optically observe in the bot. Aside from this, the bot supplementally comes as a Lite rendition that has encircled highlights yet can be habituated to test around with the lesser measure of mazuma. The post-buy support given by the organization is truly surprising. Clients get their issues settled in less than multi-day. The main pickle with regards to this bot is that you ought to in every case reliably outwardly look at the present market state. If the instability of the crypto advertise is high, at that point you ought to most likely turn the bot off to shun any misfortune
This is the most diverse digital money exchanging bot in subsistence at present. For any individual who needs to gain proficiency with some things about exchanging bots and not spend any mazuma getting one, at that point Gekko is the bot for you. The Gekko trading bot is an open source bitcoin exchanging bot venture that is accessible for anybody to use for nothing. The way that it is in freedom to use is the fundamental purpose behind its wide prevalence. Like some other open-source ventures, Gekko is free of for all intents and purposes all bugs and even the ones the pop are fixed up at lightning speeds. The Gekko bot can collaborate with a few trades, including Bitfinex, Polonix, and BitStamp. The bot uses a web interface to associate with the clients and can keep running on a neighborhood machine with Windows, Linux, or the Mac OS. The bot comes pre-designed with some exchanging system. You can initiate using the bot on autopilot as anon as you introduce and design it with a trade. In any case, if you would savor to use your very own exchanging system, the bot withal endorses you to design it to your savoring. While the present design is respectable for trying different things with the bot, there are a few other exchanging techniques accessible online that would benefit you make an all the more profitably worthwhile wager. The bot will withal send you a notice at whatever point it executes a specific exchange. This is finished by incorporating it with the Telegram envoy. Consequently, you will dependably ken how well your bot is performing. The main drawback to the Gekko exchanging bot is that it isn't very utilizer-heartfelt. There are a few aides in the digital world that direct you through the underlying setup process. Be that as it may, this procedure isn't extremely direct and you would presumably hit a barricade at any rate once amid the underlying setup.
Another allowed to use digital currency exchanging bot, Zenbot can be considered as a further developed form of the Gekko exchanging bot. Nonetheless, as Gekko has been around for a more extended time, it is all the more generally used. Much the same as Gekko, Zenbot programming can be downloaded from Github and introduced on your neighborhood PC. The product is perfect with Windows, Mac just as the Linux working frameworks. The bot comes pre-arranged with an entirely nice exchanging system. In any case, its real potential can be opened only when you initiate executing your exchanging order. The primary bind with the allowed to use bots is that they are frequently not very utilizer-genial. In any case, this isn't the situation with Zenbot. The entire setup process is extremely effortless, and you can have the bot fully operational in all respects speedily. The bot chips away at all prevalent trades, for example, Bitfinex, Poloniex, Bittrex, and so on. As it is an open source venture, it is without now of a few bugs, and regardless of whether one springs up, it will be adjusted all around speedily. The Zenbot can effortlessly actualize with a few informing stages, for example, slack, Telegram, and so on to give you the updates of any exchange that was executed. Adventitiously, the Zenbot withal braces high-recurrence exchanging. This is a component that outlined the personnel of the Gekko bot. The Zenbot is being refreshed, and more highlights are being incorporated traditionally. Hence, making it a bot for you to reliably outwardly analyze.
WolfpackBOT: WolfpackBOT is a cryptographic money exchanging programming application that has been created with the most developed highlights of any robotized exchanging programming of its sort. The WolfpackBOT has been intended to execute exchanging directions with the usage of restrictive numerical calculations, and specialized investigation bespeakers predicated on the client's predefined assignments.
The cryptographic money advertise as of now bearish, and many exchanging bots easily miss the scarcest vacillations. WolfpackBOT has been built to execute trading directions at a lightning speed and is fit for making up to a large number of exchanges every day, relying upon the states of the market. WolfpackBOT is among the few cryptographic money exchanging bots that give crypto aficionados full self-governance, security, and control of their exchanging bot and its related API keys. A large portion of the crypto trading bots out there are cloud-predicated stages that are constrained by outsider frameworks. While these stages guarantee dealers of outright wellbeing and security, insightful brokers ken that in the crypto space, outsider frameworks like trades and other cloud-predicated steps are hacked proximately consistently. Since WolfpackBOT programming and your related API keys are put away individually PC or devoted VPS, WolfpackBOT can sidestep a significant number of the security issues related to cloud-predicated frameworks. WolfpackBOT has been created for the whole crypto network, from experienced merchants to novices, with three in all respects reasonably valued membership levels. WolfpackBOT accompanies a few membership bundles that authorize clients to exchange with a wide scope of chances predicated on their favored membership.
cryptotrader_reviewAlmost all digital money merchants would have aurally seen about the crypto dealer exchanging bot. The across the board fame of this bot is because it was one of the absolute first bots to be kept running on the cloud and accessible to the clients day in and day out. The crypto broker bot is plenarily web-predicated and in this manner, open from anyplace you can associate with the digital world. The bot can be easily designed with a few well-known trades, for example, Poloniex, Bittrex, Kraken, and so on. This bot does not come for nothing out of pocket. You can operate from the few organizations accessible. The valuing initiates with 0.003BTC every month for the most simple arrangement and this goes up to 0.0472 BTC every month for their excellent arrangement. While all plans do offer clients support for programmed exchanging, the early highlights and as far as possible for the more indulgent plans is higher than that given the basic arrangement. Any early component that is caused is most readily accessible on the higher bundle designs and are later accessible on the basic plans. On the off chance that you would simply savor to exchange on a solitary trade and with exceptionally delineated mazuma, at that point the basic arrangement will get the job done. Be that as it may, on the off chance that you are outwardly looking at the higher volume of exchanges, at that point run with the higher bundle. This bot additionally sustains algorithmic exchanging. In this manner, I am making it effortless for clients to execute their very own arrangements. The bot can be effortlessly modified. In this manner, I am making it a broadly utilized cryptographic money exchanging bot.
btcrobotWe simply needed to incorporate the pioneer of digital currency exchanging bots on our rundown of the best crypto exchanging bots. The Bitcoin robot started as a Bitcoin exchanging bot. In any case, it can now withal be designed to exchange different digital currencies, for example, Ethereum and Litecoin. The bot is accessible as a product and should be downloaded and keep running on your neighborhood machine. This betokens the exchanges will be executed just as long as you keep your PC turned on. The bot can effortlessly work with a few digital money trades and is by and large broadly utilized even today. The bot isn't accessible free of expense and costs you a premium. The cost of the bot ranges from $19.99 every month for the principal plan. In any case, clients usually buy the platinum plan that costs just $399 one time charge and offers utilizer unlimited access to every one of the highlights. The benefits made by individuals using this bot verbalizes for itself. Supplementally, they do offer a 60-days mazuma back assurance. Along these lines, you should look at them once.
This can't be considered as a bot. In any case, the USI tech BTC settlement promises mechanized benefits for your BTC speculations. The USI Tech was at first intended for Forex exchanging. In any case, after the raise of the ubiquity of Bitcoin, they additionally offer BTC bundles. Not at all like some other BTC exchanging bot where you require to give the API key of your trade account to execute exchanges, on USI Tech, you will require to winnow from among the few BTC master exchanges. At that point, you will begin accepting your segment of benefits at whatever point exchange is made. The USI Tech stage basically ensures extraordinary comes back to your speculations. The entire procedure of purchasing your absolute first BTC bundle is withal simple and pellucidly elucidated on their site. You can explore different avenues regarding the benefits that you gain. In any case, the number of bundles you purchase, the more dominant will be your benefit
Margin.De (Leonardo Bot)
Edge LeonardobotThis is a cryptographic money exchanging bot with the most utilizer-genial interface. The GUI of the bot is easy to use, and the highlights gave are extremely puissant. The bot was structured with two exchanging techniques ping pong and Margin exchanging actualized into it. In any case, you can withal modify it with your very own custom settings. This bot lays incredible complement on the visual parts of exchanging. The specialized examination done by the bot is immensely simple to break down. What more? The bot has an astonishing component called visual exchanging. This interface feels rich smooth to use and offers clients the most extreme authority over the exchanges. The bot was at first evaluated at 0.5 BTC consistently. Notwithstanding, presently, it is accessible at a one-time cost extending from $89 to $1999 with the most elevated arrangement offering a bigger number of highlights than th
Daily analysis of cryptocurrencies 20191015(Market index 39 — Fear state)
https://preview.redd.it/362pt9cbyos31.jpg?width=1200&format=pjpg&auto=webp&s=1bd6935d0b9f27bc215a7ceb9a4dd14a6b4c502c Indian Supreme Court Postpones Crypto Case To November The Supreme Court of India on Oct 15 once again postponed hearing the case against the crypto banking restrictions by the Reserve Bank of India (RBI). The central bank has replied to crypto exchanges’ representation as directed by the court, which was supposed to resume hearing the case on Oct 15. Ripple Battles Crypto FUD: ‘99.9% Of All XRP Trading, We Have Nothing To Do With’ Ripple CEO Brad Garlinghouse says the San Francisco startup has dramatically reduced the amount of XRP it’s selling over-the-counter. Each day, Ripple calculates the total amount of XRP sold across all exchanges based on volume data from CryptoCompare. It then sells 10 basis points of that total volume or 0.10% of its own XRP. “One of the things that we actually agree with is, we try to have a constructive way to engage the market by saying, ‘We’re going to sell OTC and we’re going to sell programmatically at ten basis points of daily market activity’ … Every day Ripple is 10 basis points of the overall XRP volume. If there’s $100 million worth of daily volume before Ripple does anything, Ripple would be $100,000 in sales. 99.9% of all XRP trading, we have nothing to do with,” he stated. Bank Of England Governor: Libra May Be An Alternative To The UK Payment System Bank of England Governor Mark Carney states that Facebook’s cryptocurrency Libra may be an alternative to the payment system in the UK since the latter is not good enough, Jin10.com reports on Oct 15. CMCC, UnionPay And Others Announce The Formal Test Of Blockchain Service Network (BSN) China National Information Center, China Mobile Communications Group (CMCC) and China UnionPay jointly announced the formal test of blockchain service network (BSN) designed and built by six institutions in Beijing. BSN is top-level planned by China National Information Center and independently developed and successfully put into practice by China UnionPay and CMCC adopting the relevant blockchain technology and existing network resources and data centers. It is a nation-wide blockchain service infrastructure platform that spans public networks, regions and institutions in China.
Encrypted project calendar（October 15, 2019）
RUFF/RUFF Token:Ruff will end the three-month early bird program on October 15thKAT/Kambria:Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15.BTC/Bitcoin:The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.OTOCASH (OTO):15 October 2019 Escodex Shutdown “ All OTO HOLDERs who have assets on ESCODEX EXCHANGE to immediately withdraw your assets before October 15th, 2019 4:00 PM”(CRYPTO):15 October 2019 Hard Fork Summit Hard Fork Summit 2019 by TNW . “Where finance and business meets tech.” Amsterdam, October 15–17.Cardano (ADA):15 October 2019 NYC Meetup “Next week on October 15th Nathan Kaiser, Chairperson of the Cardano Foundation, will be in attendance to meet community members in NYCFunFair (FUN):15 October 2019 Marketing AMA “The FunFair Marketing AMA… will be held on Tuesday the 15th of October at 2pm in the Live team chat channel on DiscordArk (ARK):15 October 2019 ARK Core v2.6 on Devnet “We are very excited to announce #ARK Core v2.6 will be launching on #Devnet, October 15th, 2019! “DigiByte (DGB):15 October 2019 BitMart Listing DigiByte (DGB) will be listed on BitMart Exchange on October 15, 2019. The following trading pair will be available: DGB/BTC.ThoreNext (THX):15 October 2019 Staking Goes Live “Staking live from 15 OCT 2019.”
Encrypted project calendar（October 16, 2019）
BTC/Bitcoin:The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th.MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16.ETH/Ethereum:Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades.QTUM/Qtum:Qtum (QTUM) Qtum main network hard fork is scheduled for October 16.(CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM.Binance Coin (BNB):16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.”IoTeX (IOTX):16 October 2019 Mainet Beta “The next evolution of IoTeX blockchain, secure IoT hardware, and decentralized identity is coming October 16 — mark your calendars.”Selfkey (KEY):16 October 2019 Corporate Wallet Release “Soon, wallet users will be able to manage corporate profiles and identity attributes.”Cardano (ADA):16 October 2019 Washington D.C. Meetup “Nathan Kaiser, Chairperson of the Cardano Foundation, will join the community in Washington DC on Oct 16, and talk about the recent
Encrypted project calendar（October 17, 2019）
Holo (HOT):17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.”IOST (IOST):17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by@FishChainGamenow! The competition only lasts till 17 Oct”Aragon (ANT):17 October 2019 Seoul Meetup “You are invited to join@licuendefor a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’”Skycoin (SKY):17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM.Horizen (ZEN):17 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（October 18, 2019）
BTC/Bitcoin:The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decisionHB/HeartBout:HeartBout (HB) will officially release the Android version of the HeartBout app on October 18.OKB (OKB):18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.”HeartBout (HB):18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.”BTU Protocol (BTU):and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government…
Encrypted project calendar（October 19, 2019）
PI/PCHAIN Network:The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19.LINK/ChainLink:Diffusion 2019 will be held in Berlin, Germany from October 19th to 20thDeepBrain Chain (DBC):19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October.General Event (CRYPTO):and 1 other 19 October 2019Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…”PCHAIN (PI):19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.”Nash Exchange (NEX):19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.
Encrypted project calendar（October 20, 2019）
GameCredits (GAME):20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward!Aeternity (AE):20 October 2019 Starfleet 3 App Deadline #Starfleet3 is happening in Malta and you have by October 20th to apply!
Encrypted project calendar（October 21, 2019）
KNC/Kyber Network:The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.Horizen (ZEN):21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains.Horizen (ZEN):21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper.
Encrypted project calendar（October 22, 2019）
ZRX/0x:The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.Locus Chain (LOCUS):22 October 2019 Public Test Begins Public test runs for three days from October 22nd to October 24th.
Encrypted project calendar（October 23, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.”BTC/Bitcoin:The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.Cardano (ADA) and 1 other:23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital OfficersCloakCoin (CLOAK):23 October 2019 (or earlier) CloakCoin Competition “CloakCoin competition : solve the CloakCoin ENIGMA transaction, 3rd round.”Loom Network (LOOM):23 October 2019 Singapore Meetup “Unstack the Stack Series: Loom Network” from 6:30–8:30 PM (SST).
Encrypted project calendar（October 24, 2019）
BCN/Bytecoin:Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.
Encrypted project calendar（October 25, 2019）
ADA/Cardano:Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.
Encrypted project calendar（October 26, 2019）
KAT/Kambria:Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS.BTC/Bitcoin:CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th
Encrypted project calendar（October 28, 2019）
LTC/Litecoin:Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USABTC/Bitcoin:Mt.Gox changes the debt compensation plan submission deadline to October 28ZEC/Zcash:Zcash (ZEC) will activate the Blossom Agreement on October 28th
Encrypted project calendar（October 29, 2019）
BTC/Bitcoin:The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.
Encrypted project calendar（October 30, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”
Encrypted project calendar（November 1, 2019）
INS/Insolar:The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.
Encrypted project calendar（November 6, 2019）
STEEM/Steem:The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.
Encrypted project calendar（November 8, 2019）
BTC/Bitcoin:The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.
Encrypted project calendar（November 9, 2019）
CENNZ/Centrality:Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
https://preview.redd.it/0hzdpjdfyos31.png?width=504&format=png&auto=webp&s=7c2ab05fcaf1f0990e0d1b48db72bc91dadba3a1 In the past three sessions, there were mostly range moves in bitcoin below the $8,400 resistance against the US Dollar. Earlier, BTC price declined below the $8,200 support area and the 100 hourly simple moving average. A new weekly low was formed near $8,148 and recently the price started a decent upside correction. It broke the $8,200 and $8,300 levels to avoid any further losses. Moreover, there was a break above the 50% Fib retracement level of the last slide from the $8,471 high to $8,148 swing low. The price even spiked above the $8,400 level and the 100 hourly simple moving average. However the upward move was capped and the bulls failed to gain momentum above $8,400. It seems like the 76.4% Fib retracement level of the last slide from the $8,471 high to $8,148 swing low acted as a strong resistance. At the moment, the price is trading in a range below the $8,400 resistance area. Additionally, there is a new breakout pattern forming with resistance near $8,400 on the hourly chart of the BTC/USD pair. Above the triangle resistance, bitcoin price could face resistance near the $8,460 level. A successful close above $8,460 and a follow through above the $8,500 resistance might set the pace for a fresh increase in the near term. On the downside, the triangle support is near the $8,280 level. If there is a downside break, the price could retest the main $8,200 support area. Should there be a daily close below the $8,200 support, the price may perhaps continue to slide towards the $8,000 and $7,800 support levels. Review previous articles:https://firstname.lastname@example.org Telegram： https://t.me/Lay126 Twitter：https://twitter.com/mianhuai8 Facebook：https://www.facebook.com/profile.php?id=100022246432745 Reddi：https://www.reddit.com/useliuidaxmn LinkedIn：https://www.linkedin.com/in/liu-wei-294a12176/
I’ve been researching privacy coins deeply and feel I’ve reached a sufficient findings to merit sharing my stance re SUMO.
By Taylor Margot. Everyone should read this! THE BASICS SUMOkoin is a fork of MONERO (XMR). XMR is a fork of Bytecoin. In my opinion, XMR is hands down the most undervalued coin in the top 15. Its hurdle is that people do not know how to price in privacy to the price of a coin yet. Once people figure out how to accurately assess the value privacy into the value of a coin, XMR, along with other privacy coins like SUMOkoin, will go parabolic. Let’s be clear about something. I am not here to argue SUMOkoin is superior to XMR. That’s not what this article is about and frankly is missing the point. I don’t find the SUMOkoin vs. XMR debate interesting. From where I stand, investing in SUMOkoin has nothing to do with SUMOkoin overtaking XMR or who has superior tech. If anything, I think the merits of XMR underline the value of SUMOkoin. What I do find interesting is return on investment (“ROI”). Imagine SUMO was an upcoming ICO. But you knew ahead of time that they had a proven product-market fit and an awesome, blue chip code base. That’s basically what you have in SUMO. Most good ICOs raise over 20mil (meaning their starting market cap is $20 mil) but after that, it’s a crapshoot. Investing in SUMO is akin to getting ICO prices but with the amount of information associated with more established coins. Let me make one more thing clear. Investing is all about information. Specifically it’s about the information imbalance between current value and the quality of your information. SUMO is highly imbalanced. The fact of the matter is that if you are interested in getting the vision and product/market fit of a $6 billion market cap coin for $20 mil, you should keep reading. If you are interested in arguing about XMR vs. SUMOkoin, I point you to this infographic Background I’m a corporate tech & IP lawyer in Silicon Valley. My practice focuses on venture capital (“VC)”) and mergers & acquisitions (“M&A”). Recently I have begun doing more IP strategy. Basically I spend all day every day reviewing cap tables, stock purchase agreements, merger agreements and patent portfolios. I’m also the CEO of a startup (Scry Chat) and have a team of three full-time engineers. I started using BTC in 2014 in conjunction with Silk Road and TOR. I recently had a minor conniption when I discovered how much BTC I handled in 2014. My 2017 has been good with IOTA at sub $0.30, POWR at $0.12, ENJIN at $0.02, REQ at $0.05, ENIGMA at $0.50, ITC (IoT Chain) and SUMO. My crypto investing philosophy is based on betting long odds. In the words of Warren Buffet, consolidate to get rich, diversify to stay rich. Or as I like to say, nobody ever got rich diversifying. That being said I STRONGLY recommend you have an IRA and/or 401(k) in place prior to venturing into crypto. But when it comes to crypto, I’d rather strike out dozens of times to have a chance at hitting a 100x home run. This approach is probably born out of working with VCs in Silicon Valley who do the same only with companies, not coins. I view myself as an aggressive VC in the cryptosphere. The Number 1 thing I’ve taken away from venture law is that it pays to get in EARLY. Did you know that the typical founder buys their shares for $0.00001 per share? So if a founder owns 5 million shares, they bought those shares for $50 total. The typical IPO goes out the door at $10-20 per share. My iPhone calculator says ERROR when it tries to divide $10/0.00001 because it runs out of screen real estate. At the time of this writing, SUMO has a Marketcap of $18 million. That is 3/10,000th or 1/3333th. Let that sink in for a minute. BCH is a fork of BTC and it has the fourth largest market cap of all cryptos. Given it’s market cap, I am positive SUMO is the best value proposition in the Privacy Coin arena at the time of this writing. * ROI MERITS OF SUMOkoin So what’s so good about SUMOkoin? Didn’t you say it was just a Monero knock-off? 1) Well, sort of. SUMO is based on CryptoNote and was conceived from a fork of Monero, with a little bit of extra privacy thrown in. It would not be wrong to think SUMO is to Litecoin as XMR is to Bitcoin. 2) Increased Privacy. Which brings us to point 2. SUMO is doing several things to increase privacy (see below). If Monero is the King of Privacy Coins, then SUMO is the Standard Bearer fighting on the front lines. Note: Monero does many of these too (though at the time of fork XMR could not). Don’t forget Monero is also 5.8 billion market cap to SUMO’s 18 million. a) RingCT. All transactions since genesis are RingCT (ring confidential transactions) and the minimum “mixin” transactions is 13 (12 plus the original transaction). This passes the threshold to statistically resist blockchain attacks. No transactions made on the SUMO blockchain can ever be traced to the actual participants. Nifty huh? Monero (3+1 mixins) is considering a community-wide fork to increase their minimum transactions to 6, 9, or 12. Not a bad market signal if you’re SUMOkoin eh? b) Sub-addresses. The wallet deploys disposable sub-addresses to conceal your real sumo wallet address even from senders (who typically would need to know your actual address to send currency). Monero also does this. 3) Fungibility aka “Digital Cash” aka Broad Use Case. “Fungibility” gets thrown about a bunch but basically it means ‘how close is this coin to cash in terms of usage?’ SUMO is one of a few cryptos that can boast true fungibility — it acts just like physical cash i.e. other people can never trace where the money came from or how many coins were transferred. MONERO will never be able to boast this because it did not start as fungible. 4) Mining Made Easy Mode. Seeing as SUMO was a fork, and not an ICO, they didn’t have to rewrite the wheel. Instead they focused on product by putting together solid fundamentals like a great wallet and a dedicated mining app. Basically anyone can mine with the most intuitive GUI mining app out there. Google “Sumo Easy Miner” – run and mine. 5) Intuitive and Secure Wallet. This shouldn’t come as a surprise, yet in this day and age, apparently it is not a prereq. They have a GUI wallet plus those unlimited sub-addresses I mentioned above. Here’s the github if you’d like to review: https://github.com/sumoprojects/SumoGUIWallet The wallet really is one of the best I have seen (ENJIN’s will be better). Clear, intuitive, idiot proof (as possible). 6) Decentralization. SUMO is botnet-proof, and therefore botnet mining resistant. When a botnet joins a mining pool, it adjusts the mining difficulty, thereby balancing the difficulty level of mining. 7) Coin Emission Scheme. SUMO’s block reward changes every 6-months as the following “Camel” distribution schema (inspired by real-world mining production like of crude oil, coal, etc. that is often slow at first, then accelerated in before decline and depletion). MONERO lacks this schema and it is significant. Camel ensures that Sumokoin won’t be a short-lived phenomena. Specifically, since Sumo is proof-of-work, not all SUMO can be mined. If it were all mined, miners would no longer be properly incentivized to contribute to the network (unless transaction fees were raised, which is how Bitcoin plans on handling when all 21 million coins have been mined, which will go poorly given that people already complain about fees). A good emission scheme is vital to viability. Compare Camel and Monero’s scheme if you must: https://github.com/sumoprojects/sumokoin/blob/mastescripts/sumokoin_camel_emission_cal.cpp vs. https://monero.stackexchange.com/questions/242/how-was-the-monero-emission-curve-chosen/247. 8) Dev Team // Locked Coins // Future Development Funds. There are lots of things that make this coin a ‘go.’ but perhaps the most overlooked in crypto is that the devs have delivered ahead of schedule. If you’re an engineer or have managed CS projects, you know how difficult hitting projected deadlines can be. These guys update github very frequently and there is a high degree of visibility. The devs have also time-locked their pre-mine in a publicly view-able wallet for years so they aren’t bailing out with a pump and dump. The dev team is based in Japan. 9) Broad Appeal. If marketed properly, SUMO has the ability to appeal to older individuals venturing into crypto due to the fungibility / similarities to cash. This is not different than XMR, and I expect it will be exploited in 2018 by all privacy coins. It could breed familiarity with new money, and new money is the future of crypto. 10) Absent from Major Exchanges. Thank god. ALL of my best investments have happened off Binance, Bittrex, Polo, GDAX, etc. Why? Because by the time a coin hits a major exchange you’re already too late. Your TOI is fucked. You’re no longer a savant. SUMO is on Cryptopia, the best jenky exchange. 11) Marketing. Which brings me to my final point – and it happens to be a weakness. SUMO has not focused on marketing. They’ve instead gathered together tech speaks for itself (or rather doesn’t). So what SUMO needs a community effort to distribute facts about SUMO’s value prop to the masses. A good example is Vert Coin. Their team is very good at disseminating information. I’m not talking about hyping a coin; I’m talking about how effectively can you spread facts about your product to the masses. To get mainstream SUMO needs something like this VertCoin post: https://np.reddit.com/vertcoin/comments/7ixkbf/vertbase_a_vertcoin_to_usd_exchange/ MARKET CAP DISCUSSION For a coin with using Monero’s tech, 20 million is minuscule. For any coin 20 mil is nothing. Some MC comparisons [as of Jan 2, 2017]:
SUMO: 18 million
ENJIN: 150 million (9x)
Enigma: 465 million (26x)
REQ: 500 million (28x)
POWR: 500 million (28x)
Monero: 5.8 billion (mental maths iz hard)
Let’s talk about market cap (“MC”) for a minute. It gets tossed around a lot but I don’t think people appreciate how important getting in as early as possible can be. Say you buy $1000 of SUMO at 20 mil MC. Things go well and 40 million new money gets poured into SUMO. Now the MC = 60 million. Your ROI is 200% (you invested $1,000 and now you have 3,000, netting 2,000). Now let’s says say you bought at 40 million instead of 20 million. $20 mill gets poured in until the MC again reaches 60 mil. Your ROI is 50% (you put in $1,000, you now have 1,500, netting 500). Remember: investing at 20 mil MC vs. 40 mil MC represents an EXTREMELY subtle shift in time of investment (“TOI”). But the difference in net profit is dramatic. the biggest factor is that your ROI multiplier is locked in at your TOI — look at the difference in the above example. 200% ROI vs. 50% ROI. That’s huge. But the difference was only 20 mil — that’s 12 hours in the crypto world. I strongly believe SUMO can and will 25x in Q1 2018 (400m MC) and 50x by Q4 2018 reach. There is ample room for a tricked out Monero clone at 1 bil MC. That’s 50x. Guess how many coins have 500 mil market caps? 58 as of this writing. 58! Have many of these coins with about ~500 mil MC have you heard of? MaidSafeCoin? Status? Decred? Veritaseum? DRAGONCHAIN ARE YOU KIDDING ME THE ROLE OF PRIVACY I want to close with a brief discussion of privacy as it relates to fundamental rights and as to crypto. 2018 will be remembered as the Year of Privacy Coins. Privacy has always been at the core of crypto. This is no coincidence. “Privacy” is the word we have attached to the concept of possessing the freedom to do as you please within the law without explaining yourself to the government or financial institution. Discussing privacy from a financial perspective is difficult because it has very deep political significance. But that is precisely why it is so valuable. Privacy is the right of billions of people not to be surveilled. We live in a world where every single transaction you do through the majority financial system is recorded, analyzed and sold — and yet where the money goes is completely opaque. Our transactions are visible from the top, but we can’t see up. Privacy coins turn that upside down. Privacy is a human right. It is the guarantor of American constitutional freedom. It is the cornerstone of freedoms of expression, association, political speech and all our other freedoms for that matter. And privacy coins are at the root of that freedom. What the internet did for freedom of information, privacy coins will do for freedom of financial transactions. POST SCRIPT: AN ENGINEER’S PERSPECTIVE Recently a well respected engineer reached out to me and had this to say about SUMO. I thought I’d share. "I’m messaging you because I came at this from a different perspective. For reference, I started investing in Sumo back when it was around $0.5 per coin. My background is in CS and Computer Engineering. I currently research in CS. When I was looking for a coin to invest in, I approached it in a completely different way from what you described in your post, I first made a list of coins with market caps < 20m, and then I removed all the coins that didn’t have active communities. Next, because of my background, I read through the code for each of the remaining coins, and picked the coins which had both frequent commits to GitHub (proving dev activity), and while more subjective, code that was well written. Sumo had both active devs, and (very) well written code. I could tell that the people behind this knew what they were doing, and so I invested. I say all of this, because I find it interesting how we seem to have very different strategies for selecting ‘winners’ but yet we both ended up finding Sumo." — Legal Disclaimer: THIS POST AND ANY SUBSEQUENT STATEMENTS BY THE AUTHOR DO NOT CONSTITUTE LEGAL OR FINANCIAL ADVICE AND IS NOT INTENDED TO BE LEGAL OR FINANCIAL ADVICE OR RELIED UPON. NO REFERENCES TO THIS POST SHALL BE CONSTRUED AS LEGAL OR FINANCIAL ADVICE. THIS POST REPRESENTS THE LONE OPINION OF A NON-SOPHISTICATED INVESTOR.
Best Cryptocurrency Exchanges for Beginners Before we get into exchanges, let’s refresh our minds about what cryptocurrency is. The concept behind cryptocurrencies is relatively simple, while the math and technology are not. Essentially, a cryptocurrency is a virtual or digital currency that utilizes cryptography as a means for protection and security. Cryptography is also used to regulate the creation of additional units, so as to not drive the overall digital currency market wild. One of the greatest appeals of cryptocurrencies is that they are not regulated by any government agencies. The most popular digital asset is the bitcoin, followed by ethereum.
What Are Cryptocurrency Exchanges?
Cryptocurrencies can be traded through cryptocurrency exchanges. These cryptocurrency exchanges are platforms through which you can purchase or sell digital currencies for dollars, euros, and pounds, as well as other digital assets. For example, you can sell bitcoins and purchase dollars with the sold bitcoins, or you could exchange bitcoins for ether. These exchanges are a vital part of the virtual currency expansion rate. There are private exchanges, which are exclusive and operate by invite only, as well as those available for the public. Local exchanges also exist. Some are easier to use than others are; certain exchanges are so flexible that digital assets can be traded directly through the built-in chat features of specific popular messengers, like Telegram.
What to Consider When Picking the Best Cryptocurrency Exchanges
Here are a few things you will want to consider before picking the best cryptocurrency exchange suited for your trading and speculative needs. Fees – Almost all exchanges charge fees for you to do business on their platforms. Make sure that when you are signing up or committing yourself to a specific exchange that you know everything about its fees. Verification Requirements and Security – These are vital to understand before starting out on an exchange. Most exchanges require some sort of identity verification in the form of a passport, driver’s license, proof of residence, or other similar document before joining. The more complex the verification process, the safer the exchange platform. Exchange Rates – Exchange rates are also important, as you don’t want to join a cryptocurrency exchange that charges draconian fees for transactions and exchanges. That just wouldn’t be fair to you or financially savvy. Reputation – The best cryptocurrency exchanges always have ups and downs. However, the general opinion of the top ones is positive. The best exchanges have a solid reputation and are well trusted by traders. Region – It’s also important to find an exchange that supports your geographic region. Some exchanges may support all of the countries in South America, while not supporting any of the countries in Asia, and vice versa. If you are living in Russia, for example, make sure you pick the best exchange platform that supports your region. Now, let’s take a look at some of the best cryptocurrency exchanges out there.
Something which is important to bare in mind when choosing a cryptocurrency exchange to make your trades and purchases on is their security measures. It is well-known that many exchanges have been hacked in the past, most notably the Mt Gox exchange, which people are still feeling the fall-out from ever since. You should know that the your funds or coins on an exchange or not really yours, unless you own the private keys to the wallet of your coins you are relying on someone else to be custodian of your funds. Luckily there are some basic measures you can take when using an exchange. The most important is to never store more there than you are willing to lose, if you have a significant balance, you should withdraw it back to your own wallet and for extra security, use a Hardware wallet to secure these funds. Exchanges should be used for quick purchases of your desired cryptocurrency or for trading an amount you are happy with. They should never be used as your primary wallet, that is not their intended function. Another important step to take is to use all the security options available on the site, make sure that two-factor authentication (2FA) is setup correctly and you use an app like Authy or Google authenticator. Do not use the mobile phone option which texts you a code, this is not safe as their have been a number of high-profile hacks involving sim-swaps which allow a would-be hacker to take over your phone number and then gain access to your account.
Coinbase is one of the, if not the, most trusted cryptocurrency exchange platforms in the world. It is also the largest digital asset exchange platform in the world. The platform supports more than 32 countries and has more than 4 million active users. Traders are allowed to acquire and sell bitcoins using their bank account, credit card, PayPal, and other payment methods, as well. In order to begin trading on Coinbase, you will have to set up an e-wallet for buying and selling cryptocurrencies. Furthermore, users have to be able to link a valid bank account in order to purchase bitcoins. https://preview.redd.it/dauw912k1ze31.jpg?width=808&format=pjpg&auto=webp&s=25f1df9624cea90cc1359160ac7fd8b133eba1e7 Currently, fully verified U.S. residents are only allowed to hold up to 50,000 bitcoins per day. Overall, Coinbase has a great reputation and is highly respected in the trader community. Most transactions through Coinbase only have a 1 percent transaction fee in addition to any fees that your selected payment method may carry. As with CEX, you can only purchase a few currencies: Bitcoin, Ethereum and Litecoin. You would then need to use Changelly to convert these to other crypto currencies. Another benefit of registering with Coinbase is the fact you are then able to use the Coinbase Pro exchange which is owed by the same company. Coinbase Pro allows to more advanced trading features such as margin trading and Market, Limit, & Stop Orders. Coinbase Pro also has lower fees than Coinbase. Read our full Coinbase Review here to learn more. We have also conducted a thourough look at Coinbase’s security measures here. Visit Coinbase
Binance is a newer exchange but one we have grown to love, it has a wide range of cryptocurrencies available to purchase and trade and has a basic and advanced view which you can switch between easily. Their fees are very reasonable and they allow you to register and trade immediately without having to verify your account. You will then be able to make withdrawals of up to 2 BTC per day, if you want to withdraw higher amounts you will then need to upload your photo ID and a “selfie” photo. https://preview.redd.it/01yawgfl1ze31.jpg?width=808&format=pjpg&auto=webp&s=28c23efac9899a48ce174693ed30a6dba08d94db The public opinion of Binance at this time is very high with people praising the speed of the site, ease of use and cheap fees. For more details you can read our complete review of Binance here. Visit Binance
KuCoin is a new but very exciting exchange based in South Korea. They operate similarly to Binance in the fact that they list new altcoins much quicker than other exchanges so it’s a good place to purchase cryptocurrencies shortly after their ICO meaning there is a greater opportunity to profit by getting in early. The interface is very clean and modern and much easier to operate than other older and more clunky exchanges. They also offer their own token KCS which allows all holders to receive a daily share of profits of the platform, this is a great token to hold as you are paid in the many different currencies that the site allows people to trade in. https://preview.redd.it/qav0qx9m1ze31.jpg?width=808&format=pjpg&auto=webp&s=2635f1242f7474a56f21fe123c0ad1c7718a8ee8 Visit Kucoin
LocalBitcoins is a peer-to-peer cryptocurrency exchange used in most big cities around the world. The general principle behind this exchange is that you can find people who live in your area or city and meet with them in person to conduct an exchange. The platform also offers options for purchasing digital currencies via PayPal, Square, direct-to-bank transfers, and many other payment-processing methods. The platform charges a small fee of 1 percent per transaction in cases where sellers apply their own exchange rate. https://preview.redd.it/p3igqf3n1ze31.jpg?width=808&format=pjpg&auto=webp&s=2eae56e0e8dbe452e1d327f24ecc96642de2bc70 Similar to the way Uber passengers and drivers are rated, LocalBitcoins applies a rating to each trader that uses the platform, and this rating is publicly displayed. Trades first have to undergo an escrow process to ensure that nobody will be scammed by using the platform. Once everything is verified, the funds and cryptocurrencies transfer between traders. LocalBitcoins takes a commission of 1 percent from sellers. W Take a look at our LocalBitcoins Review to find out more. Visit LocalBitcoins
CoinMama is a large bitcoin brokerage that allows users to acquire coins with their debit or credit cards. The platform issues small fees for transactions. To make up for this, however, the limits for how many bitcoins a user can buy are much higher in comparison to Coinbase. Users can acquire up to $5,000 of coins per day or up to $20,000 per month. All users need to do to use CoinMama is to set up an account, log in, and navigate to the profile page section to fill in personal information. https://preview.redd.it/rafwelwn1ze31.jpg?width=808&format=pjpg&auto=webp&s=e1ee6986f8f04ebfb40f0110fabab246203c2c66 Following this, users will be introduced to a page that allows them to select how many bitcoins they would like to purchase, and once a fitting amount has been selected, users will be allowed to add their preferred payment methods and bitcoin addresses. Users will also be required to verify their phone number and email address. CoinMama does not require most users to upload their government-issued ID. After completing the aforementioned steps and passing the verification process, users will be able to acquire bitcoins through CoinMama. Read our complete CoinMama Review here. Visit CoinMama
CEX.IO is one of the oldest cryptocurrency exchanges in the world. However, despite being referred to as a cryptocurrency exchange, CEX.IO can only be used with bitcoins and ethereum which are the main two trading pairs for alt-coins. If you want to purchase other currencies, you can use CEX and then a service named Changelly to convert them to many other cryptos. The platform is registered with the FINCEN and applies KYC and AML principles. In other words, users have to completely verify their identity before they can get involved in any trades with this platform. Currently, the platform supports purchases with credit cards, wire transfers, or SEPA transfers for European residents. https://preview.redd.it/dvrr5yto1ze31.jpg?width=808&format=pjpg&auto=webp&s=46fa36889957b7742bf1eb1f682c6c8c31c1f164 Once you enter a trade, the platform automatically calculates the price of the transaction and freezes the exchange rate for 120 seconds, which is quite convenient. However, many users note that there are occasional hidden fees. CEX.IO has a flat fee of 7 percent for anything involving fiat currencies. For example, if you acquire $100 in bitcoins, you will only receive $93 in coins. Read our indepth CEX Review here to learn more. Visit CEX
Bittrex is well established and highly regarded crypto trading platform, with many coins and tokens to choose from. The interface is not for complete beginner’s but you should be able to find your way around after a little while. https://preview.redd.it/xa00ycmp1ze31.jpg?width=808&format=pjpg&auto=webp&s=e42aedf2b51ff01005847ec0867c69ba94e8a7dd Read our full review of Bittrex here. Unsurprisingly, Bittrex’s most popular trading pairs are BTC and ETH. It must be noted that the exchange currently does not offer any kind of fiat-to-crypto pairs, e.g. with U.S. dollars, euros, or British pounds). One thing investors can do is buy USDT (Tether tokens) via wired bank transfers in order to use USDT for crypto-to-crypto exchanges. However, you’ll need to be fully verified and willing to slap down at least $10,000 USD for Bittrex to even consider the transfer. And we here at Blockonomi don’t remind this approach anyways; there’s been a lot of controversy surrounding Tether lately, and it’s best just to stay away for now until further developments actualize. Visit Bittrex
Picking the ideal cryptocurrency exchange platform for your specific needs may be a difficult and time-consuming process. Remember to pay attention to the fees, reputation, security, verification processes, and geographical services an exchange platform has to offer. Remember that you are not limited to using only one cryptocurrency exchange. Hopefully, the information provided will assist you in deciding which exchange platform to use. We have selected 6 Cryptocurrency exchanges here which are trustworthy and easy to use for beginners to get started building their investment portfolios. Original article link: https://blockonomi.com/cryptocurrency-exchanges/
EcomToken: The Ecom Platform Born To Simplify The Operation With Crypto
Global adoption takes its course and continues to expand a new trend shift. In the age of data, privacy, and other Internet-related issues, we are witnessing a progressive crypto boom during 2019 that focuses on simplifying and expanding ecosystem services and applications. In this line of events, the Ecom platform presents version 4.0 of its wallet. For those interested in downloading, it can be found in the App Store (iOS), Google Play (Android), and APK File (Android). The wallet is compatible with the storage, reception and sending of contrasted cryptocurrencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Binance token (BNB), 0x (ZRX), Maker (MKR), Basic Attention Token (BAT), Huobi Token (HT) and VeChain (VET). It also has secure, stable tokens (stablecoins) such as True USD (TUSD) and USD coin (USDC). In addition to offering a range of pairs that will grow progressively, the wallet is compatible with cash withdrawals, receipts, and other functions including exchanging with the ECK token quickly. All complicated operations become waiting-free and straightforward for users, thanks to a system managed by artificial intelligence (AI) and EcomToken’s smart contracts. Automated technology for fast order management with BotTrader Through the Ecom wallet, the platform can tokenize all products bought and sold in the system; mainly thanks to the exchange pair in its native ECK token. The ECK/BTC swap pair will provide a good part of the liquidity and will activate the artificial intelligence gear that makes quick exchanges happen. This type of automation guided by smart contracts will feed an entire order network that will make the BotTrader service possible. BotTrader offers an easy way to manage a wide range of orders. From placing a single order to thousands of them; by this, we mean wholesale orders (whether buy orders, sell orders or both). By offering this service, scanning low point purchases on all pre-programmed exchanges are automated. Combined with automatic market scans, BotTrader also scans the upside outlets on those exchanges. When there is a price difference, the opportunity to arbitrage the price appears, and BotTrader performs thousands of trading orders at both ends with the price difference. Therefore, BotTrader not only facilitates maximizing the profit potential for the users but also has liquidity characteristics for the user’s portfolios. Virtual and physical cryptographic card By obtaining a reliable and instantaneous liquidity base, the system will support the payment network planned in the technical documentation. On society, we can see how the cash in bills and coins is beginning to be margined. Smart device wallets and personal bank cards capture a large percentage of the total spend on normal operations. It is for this reason that a system designed to support thousands of operations needs simplification in the use of stored funds. The ecosystem is designed to be able to withdraw funds from the portfolio at any time. Either through withdrawals or payments. When it comes to payments, Ecom’s virtual and physical cryptographic card offers the versatility and convenience of everyday life. Linked to its platform account, it provides the comforts of traditional systems; so the adoption barrier seems to fade over time. The distribution and technology of the ECK native token The native token of the project is the ECK token, being a utility type token. The platform focuses on trade and therefore will not own a blockchain itself, has been chosen Ethereum, being the most adopted for platforms of its kind. As a utility token under the ERC20 standard, it offers general uses to release every one of the platform’s functions. For a fair and equitable distribution, a token acquisition plan and percentages assigned to the token sale, reserve, reference program, core team, partners, and advisors have been devised. The total market offer is 101 million ECK tokens distributed based on the following proportions: · Tokens are offering — 38%. · Referral Program — 25 · Reserve — 22%. · Team, partners, advisors — 15 Allocation of the funds collected in the sale of the token An internal fund allocation plan accompanies the distribution of the tokens described above. This plan is posted both on the website and in the corresponding technical documentation. We proceed to break it down: · Technological development 15%. Technology, products for the platform, new products, and updates of ecosystem characteristics. · Commercial development 15%. This is one of the pillars of the project, even more so in the newly created company phase. It is orienting to implement a brand image recognized, respectable, modern, and backed by an active user base and constituting business development by building value-added joint ventures with industry leaders. · Marketing 10%. Global promotion and orientation of the EcomToken ecosystem. It also ensures visibility in the sector. · Operations 40%. Active financing of the necessary operations and legal bases, as well as advice, are required to start. The planned robust infrastructure will lay the groundwork for a stable future for the ecosystem in the medium and long term. This ranges from liquidity for automated operations to the maintenance of excellent performance, legal assistance, and customer support. · Ecosystem development 20%. The secured funds guarantee the complete development of the Ecosystem offer the peace of mind of remaining outside the funds allocated for liquidity and other diverse goals. Therefore, developers and ancillary teams will be able to stay focused on the development and implementation of a seamless global ecosystem. Can the native ECK token be mined? The issue model of the ECK token is not linked to PoW mining. Instead, Token Holders will be encouraged to maintain them through a daily interest. Platform users can deposit ECK tokens into EcomToken’s portfolio to enjoy the resulting calculated interest regularly. This model promotes the adoption of the token by withdrawing it from the markets to the user’s portfolios. This and other initiatives seek to establish a strong base of users and early holders. To calculate the daily interest to be received, the value of the conversion to US dollars (USD) will be taken as a reference; that is, the ECK/USD pair will be calculated. According to this exchange rate, the daily interest to be received will be calculated. Note that the reference source for obtaining the price will be taken from the metrics publicly exposed in Coinmarketcap.com. Partners: ECK Tokens will list on big Exchanges on Coinmarketcap as: Sistemkoin, BTC-Alpha, Bancor, WhiteBit, Probit, Token.Store… Investors and traders can trade ECK when listing · EcomToken Web — https://ecomtoken.com/ · Telegram — https://t.me/globalecomtoken · Twitter — https://twitter.com/TokenEcom · Facebook — https://www.facebook.com/global.ecomtoken · Youtube- https://www.youtube.com/channel/UCKyjFWsd1VNxZx_wgCO4WzA BOUNTY : Video Review and make Pictures Get 5 ECK for make Pictures with Screen ecomtoken website/EcomToken app Get 8 ECK for make Pictures with your friends (from 3 friends) with screen ecomtoken website/EcomToken app Get 10 ECK for make Pictures with your friends (from 5 friends) with screen ecomtoken website/EcomToken app Get 20 ECK for make video review ecomtoken projects (say where are you from, how old are you, and why you interesting in EcomToken Special: Top 3 awards for the most votes from the organizers: In Pictures 1 Prize 1: 100 ECK 2 Prize 2: 50 ECK 10 Prize 3: 10 ECK In Video Review 1 Prize 1: 500 ECK 2 Prize 2: 200 ECK 10 Prize 3: 100 ECK Please submit your works in the submission form: https://drive.google.com/open?id=1niidisZ2wRMaMZaPtqKNL6N9XyX6NUVSlvagwEUgZgk Spreadsheet: https://drive.google.com/open?id=1ymfm58X0eiIsljD1duCLSl2KkLMcn0hrlkXPdB8mMNs
What is CtrXL? A spreadsheet to track the value of your cryptocurrencies on exchanges, cold storage and/or other locations. CtrXL can securely pull your Balances from your exchange using Read-Only APIs or by Manual entry in the sheet. Values are calculated to both BTC and Fiat and can be automatically saved, based on a time interval. The sheet comes with eye candy Dashboard elements that can be easily adjusted to your own preference. Download (copy) the sheet Documentation Use Cases: You have currencies on multiple Exchanges or multiple accounts on one exchange You manage cryptocurrency for others and want a single pane of glass You have cryptos in 'other' locations; like cold storage, offline / hardware wallets or elsewhere (example: Ledger Nano) You are looking for a sheet that is simple to understand and can be extended and/or customized Functionality:
Live Balance Collectors using Read OnlyAPI keys for the following exchanges:
In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018
Developments in Financial Services
A cryptocurrency exchange-traded product (ETP) that trades on Switzerland’s Six Exchange saw record trading volumes on Thursday and Friday last week, suggesting that institutional investors may be buying the dip in cryptocurrencies. Four major cryptocurrencies underlie the HODL ETP, including Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). While HODL ETP’s one-month average daily trading is 20,000 shares, on Thursday, December 6th, and Friday, December 7th, 53,233 shares and 62.986 shares were traded, respectively.
A report published last week by global anti-money laundering policymaker, the Financial Action Task Force (FATF), indicates that cryptocurrency exchanges in the United Kingdom pose a, “low risk,” for money laundering and terrorist financing activities. The report, however, does highlight that such activities on UK cryptocurrency exchanges are an, “emerging risk,” although there is not yet enough evidence to suggest that these activities are occurring through cryptocurrency exchanges. In its report, the FATF urged UK regulators to, “Continue to develop an understanding of emerging risks (such as virtual currencies) and intelligence gaps, and take appropriate action.”
Andreas Utermann, CEO and CIO of Allianz Global Investors, called on global financial regulators to ban cryptocurrencies while speaking at a panel discussion in London. According to a report by Reuters, Utermann said, “You should outlaw it,” while participating in a panel alongside Andrew Bailey, the head of Britain’s Financial Conduct Authority. Bailey responded by saying that Utermann’s comments were, “quite strong,” before adding that cryptocurrencies have, “no intrinsic value.”
Basis, a major US-based stablecoin project, is shutting down its operations and returning most of its funds to investors, according to a report by crypto news outlet The Block. The report by The Block cited, “multiple people with direct knowledge of the situation,” in claiming that the algorithmic stablecoin project, which generated UDS$133mm of funding through private investments in April, will return funds to investors. According to the Co-Founder and CEO of competing stablecoin project Nevin Freeman, Basis’ shutdown is due to regulatory concerns around one of its token types. Freeman explained, highlighting that algorithmic stablecoins implement a “secondary token”, known as a “bond token”, to help maintain the primary token’s peg. In many cases, regulators like the US Securities and Exchange Commission (SEC) consider these secondary tokens to be securities.
Binance, the world’s largest cryptocurrency exchange by daily trading volume, announced that it has added Circle’s US dollar-pegged stablecoin, USD Coin (USDC), to its combined Stablecoin Market. Circle, a company backed by Goldman Sachs, first released its stablecoin in September of this year. Binance’s combined Stablecoin Market features other notable stablecoins, like Tether (USDT), that trade against cryptocurrencies as interchangeable base pairs.
Coinone, a South Korea-based cryptocurrency exchange, has officially launched Cross, a cross-border payments application that leverages Ripple’s xCurrent product to increase efficiencies. The application, released by Coinone’s payments subsidiary, Coinone Transfer, targets unbanked or underbanked South Koreans by enabling the transfer of funds to Thailand or the Philippines at a low cost.
Gemini, a cryptocurrency exchange heralded by the Winklevoss twins, released an official company blog post this weekend announcing that the firm will support Bitcoin Cash (BCH) custody and trading. The exchange will support only the Bitcoin Cash ABC network at this time, adding that they, “are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.” Additionally, the company detailed that its listing of BCH is pending regulatory approval by the New York State Department of Financial Services.
Gemini, the cryptocurrency trading platform founded by the Winklevoss twins, announced the launch of a mobile crypto trading application in an official blog post today. Accompanying the launch of the crypto trading app is a new investment vehicle, dubbed, “The Cryptoverse,” that is comprised of a basket of cryptocurrencies weighted by market capitalization. While speaking to Bloomberg today, Cameron Winklevoss said that, “A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.” The Winklevoss twins went on to detail of a goal to expand reach to Asian markets by 2019’s end.
Good Money, a US neo-banking platform, has closed its Series A investment round that generated USD$30mm led by cryptocurrency-focused merchant bank Galaxy Digital and the founder of EOS (EOS) Block.one. Good Money aims to provide a variety of banking service and certain financial instruments to US account holders while exploring innovative changes to traditional banking practices. “Modern banking is a primary driver of so many issues we as a society face – from economic inequality, institutional racism, environmental destruction to political corruption,” said Good Money founder Gunnar Lovelace. Specifically, Good Money eliminates ATM fees while offering each bank user equity in the company.
Kraken, a notable cryptocurrency exchange, is seeking to raise funding with a USD$4bn valuation for the company and a USD$100,000 investment minimum, according to CoinDesk. In an email to investors, Kraken CEO Jesse Powell wrote, “There is presently a limited time opportunity available to a very small select number of clients to purchase shares.” The email goes on to detail that the exchange will close its offer on December 16th.
OKEx, the second-largest cryptocurrency exchange by daily trading volume, will begin listing Bitcoin Cash ABC under the original Bitcoin Cash ticker (BCH), as per an official announcement Tuesday. Additionally, OKEx will change the Bitcoin Cash SV ticker from BCHSV to BSV. The announcement by OKEx comes after other notable cryptocurrency exchanges have made the same switch, including Coinbase and Gemini.
PayPal, an online payments portal, has launched its own internal private blockchain platform that will allow staff to trade and exchange tokens while generating ideas and participating in programs to foster innovation, as per a report by news outlet Cheddar. The private blockchain network, which was built by 25 PayPal employees in just 6 months, will allow employees to earn more for enrolling in learning and development programs. The PayPal tokens are not tradeable, or worth anything for that matter, outside PayPal’s blockchain.
PricewaterhouseCoopers (PwC), a big four consulting firm, is partnering with Bitfury Group, a large blockchain software and mining firm, to develop a blockchain accelerator specific to Russian businesses. As per an official press release by PwC, the partnership will leverage Exonum, Bitfury’s open source framework to build blockchain applications, for educational courses and seminars. The partnership aims to meet the, “current needs,” of PwC’s enterprise clients in Russia.
Revolut, a digital banking alternative with an in-application cryptocurrency exchange, announced that it has been awarded a European banking license. Seeking to become the, “Amazon of banking,” the license will allow Revolut to offer traditional banking services alongside its current cryptocurrency offerings to European customers. Nikolay Storonsky, Founder and CEO of Revolut, said in regards to the newly acquired license that, “With the banking license now secured, commission-free stock trading progressing well, and five new international markets at final stages of launch, we are living up to our reputation as the ‘Amazon of Banking’. Our vision is simple: one ap with tens of millions of users, where you can manage every aspect of your financial life with the best value and technology.”
Shinhan Bank, the second-largest commercial bank in South Korea, is launching a new project to implement blockchain technology in its internal processes with a goal of eliminating human error. According to a report by news outlet The Korea Times, Shinhan also recently completed a training program for its staff to increase their knowledge of blockchain technology across various applications. After Shinhan implemented blockchain technology for interest rate swap transactions on November 30th, South Korea’s second-largest bank is now aiming to apply the technology in its record-keeping process to enhance overall efficiencies.
SolarisBank, Germany’s second-largest and Europe’s ninth-largest stock exchange, is partnering with Stuttgart Exchange Group, a German fintech company, to jointly develop a cryptocurrency exchange. As per a report by Cointelegraph Germany, the joint cryptocurrency exchange venture, “is scheduled to launch in the first half of 2019.” This news comes after SolarisBank announced plans to launch a zero-fee cryptocurrency trading application this past May.
The Canadian city of Calgary is becoming the first city in Canada to launch a digital version of its local currency, according to a report by the Global News. Dubbed as the Calgary Digital Dollar, the digital currency will be exclusive to Calgary and operate alongside the country’s Canadian Dollar. Calgary-based businesses will now be required by law to accept at least 10% of a payment in digital currency, although they are allowed to accept up to 100%.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is launching a pilot of its Global Payment Initiative (GPI) to combat growing blockchain and fintech solutions, according to an official announcement last week. Currently, the SWIFT Network is used by global financial institutions to conduct global financial payments and cross-border transfers of fiat currency. Although the project is still in its early stages, the GPI pilot hopes to, “build the foundation of a new integrated and interactive service that will significantly improve efficiencies in the payments process and which will ultimately be made available to all 10,000 banks across the SWIFT network.”
The United Arab Emirates’(UAE) central bank is partnering with the Saudi Arabian Monetary Authority (SAMA) to develop a cryptocurrency to facilitate cross border transactions between the two countries, according to a report by news outlet GulfNews. In a meeting pertaining to global banking standards and regulation in the Arab region, Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, said, “This is probably the first time ever that witnesses the cooperation of monetary authorities from different countries on this topic and we hope that this achievement will foster similar collaboration in our region.” The prospective digital currency will be used by both central banks and financial institutions in the countries.
TokenSoft, a security token offering (STO) startup, has acquired a 20% stake in regulated broker-dealer Marpine Securities LLC in order to launch its own regulated broker-dealer. After acquiring the 20% stake, TokenSoft will launch its new regulated broker-dealer entity, called TokenSoft Global Markets, that will be registered through the Financial Industry Regulatory Authority (FINRA). The new regulated broker-dealer entity will allow TokenSoft to advise token issuers through every step of the Initial Coin Offering (ICO) process. Additionally, TokenSoft will now be able to legally operate in services related to insurance and management.
Tom Lee, co-founder of Fundstrat Global Advisors and a notable cryptocurrency pundit, believes that the current fair value of Bitcoin (BTC) is between USD$13,800 and USD$14,800, according to a note published on Thursday. Lee arrived at this valuation by taking into account the number of active wallet addresses, usage per account, and other supply and demand metrics. Additionally, Lee forecasted that the fair value of BTC will reach USD$150,000/coin once BTC wallets account for 7% of Visa’s 4.5bn account holders.
UAE Exchange, an exchange based in the United Arab Emirates (UAE), is partnering with Ripple to launch a blockchain-based cross-border remittances platform by 1Q2019, as per a Reuters report on Thursday. The report details further that Finablr, a payments and foreign exchange company that owns UAE Exchange, observes a high level of remittance inflows from expatriate workers in the Middle East region. “We expect to go live with Rippel by Q1, 2019 with two other Asian banks,” said Finablr CEO Promoth Manghat, adding, “This is for remittances to start with, from across the globe into Asia.”
De Nederlandsche Bank, the Netherlands’ central bank, will soon require domestic cryptocurrency providers to obtain a license from the regulator to operate, as per a report by Dutch news outlet DeTelegraaf. The Netherlands' central bank is taking these measures in the hope that it will, “prevent such cryptocurrencies from being used to launder money obtained through crime or to fund terrorism.” In order to receive a license, cryptocurrency firms must maintain Know-Your-Customer procedures and report any suspicious activity to the Dutch central bank.
Eddie Hughes, a conservative member of the United Kingdom’s Parliament, suggested that Bitcoin (BTC) should be accepted as legal tender for tax and utility payments, according to news outlet Express.co.uk. The article discusses that Hughes, who is a self-described, “crypto enthusiast with amateur knowledge,” recently met with the Royal National Lifeboat Institution, which accepts cryptocurrency donations. This news comes after the US state of Ohio announced that it would begin accepting BTC as legal tender for tax payments.
Following a case in Canadian courts that resulted in a ruling ordering mistakenly sent crypto funds to be returned to their owner, a blog post from the University of Oxford Faculty of Law is noting that there could be repercussions with the case potentially setting a precedent for lost or stolen cryptocurrency claims. The Canadian court case’s ruling will require defendant Brian Wall to return USD$370,482 worth of Ethereum (ETH) tokens to the plaintiff, Copytrack. The blog post from the University of Oxford Faculty of Law reads, ‘This precedent may have major repercussions for the enforcement of claims regarding lost or stolen cryptocurrencies,” adding that the ruling allows the plaintiff to recover tokens, “in whatsoever hands those Ether Tokens may currently be held.”
Japan’s government is considering plans to ease cryptocurrency taxes in an effort to revitalize the domestic cryptocurrency and blockchain industry. This week, Japanese Congressman Takeshi Fujimaki proposed four significant changes to taxation requirements pertaining to digital assets, which include: a reduction on the cryptocurrency gains tax from 55% to 20%; elimination of taxes on crypto-to-crypto payments; elimination of taxes on miniscule cryptocurrency payments; and an adjustment that would allow cryptocurrency investors to carry forward losses across quarters and years, effectively until cryptocurrencies are ‘cashed’ out.
Jay Clayton, Chairman for the United States Securities and Exchange Commission (US SEC), said during a speech that Initial Coin Offerings (ICOs), “can be effective,” for fundraising, but that, “securities laws must be followed.” Clayton went on in his speech to comment on the US SEC’s work regarding distributed ledger technology (DLT), digital assets, and ICOs, saying that it is an, “area where the Commission and staff have spent a significant amount of time,” and, “that this trend will continue in 2019.”
Jay Clayton, the Chairman of the US Securities and Exchange Commission (SEC), expressed his optimism for distributed ledger technology’s potential impact on traditional financial markets in a testimony before the US Senate Committee on Banking, Housing, and Urban Affairs yesterday. According to a transcript published on the SEC’s website, Clayton said, “I am optimistic that developments in distributed ledger technology can help facilitate capital formation, providing promising investment opportunities for both institutional and Main Street Investors.” Additionally, Clayton highlighted that the SEC is, “Focusing a significant amount of attention and resources on digital assets and initial coin offerings (ICOs).”
Maxim Akimov, the Deputy Prime Minister of Russia, announced that no significant changes will be made to the draft of a bill concerning cryptocurrency regulation in the country, as per news outlet Finmarket. The bill was already approved by Russia’s parliament, the State Duma, in May 2018, although the bill has generated substantial discussion since. Since approval of the bill, all cryptocurrency and token-related terminology have been removed and replaced with the term “digital rights”. At the beginning of December, Pavel Krasheninnikov, Chairman of Russia’s State Duma, said that the bill needed to be, “significantly,” changed.
Pan Gongsheng, a deputy governor of the People’s Bank of China, highlighted that Security Token Offerings (STOs) in China are illegal while speaking at a summit in Beijing. As per a report by news outlet the South China Morning Post, Gongsheng told the summit that, “illegal financing activities through STOs and ICOs were still rampant in the mainland despite a nationwide clean-up of the cryptocurrency market last year.” In citing reasoning for the continued ban on STOs, Gongsheng explained that, “Virtual money has become an accomplice to all kinds of illegal and criminal activities.”
Pantera Capital, a blockchain and cryptocurrency-focused investment firm and hedge fund, is warning investors that as much as a quarter of their ICO project could potentially be violating US securities laws, according to a Bloomberg report. In a newsletter to clients, Pantera Capital warned, “While we believe the vast majority of the projects in our portfolio should not be affected, approximately 25% of our fund’s capital is invested in other projects with liquid tokens that sold to US investors without using Regulation D or Regulation S”
Russia has no intention of implementing Venezuela’s state-backed digital currency, the Petro, into commercial operations, according to a report by news outlet RIA Novosti. While speaking to reporters this week, Russian Deputy Finance Minister Sergey Storchak said, “Representatives from our tax service and central bank... got acquainted with the cryptocurrency Venezuela is introducing,” adding, “But no more than that. As for payments, they’re not happening yet.”
South Korea’s representative body, the National Assembly, held its first official meeting with seven of the country’s largest cryptocurrency exchanges on Monday. The purpose of the meeting was to debate cryptocurrency regulation between stakeholders of South Korea’s cryptocurrency industry. Cryptocurrency exchanges Bithumb, CobitCoin, Coinone, Upbit, Gopax, Coinplug, and Hanbitco were among the attendees of the debate, which reportedly focused on Anti-Money Laundering (AML) customer protections and Know Your Customer (KYC) procedures.
The United Kingdom’s Financial Action Task Force (FATF), an intergovernmental financial security body, is calling on the country’s government to increase monitoring of cryptocurrency markets. According to an official report last week, the UK must overhaul its Anti-Money Laundering (AML) and combat terrorist financing (CFT) efforts in order to prevent illicit activities with cryptocurrencies. “Virtual currency exchange providers are not yet covered by AML/CFT requirements,” the report details, adding, “this is an emerging risk and there is not yet evidence to suggest that broad scale ML/TF is occurring in the UK through this relatively small sector.”
The United States Commodity Futures Trading Commission (CFTC) is interested in learning more about the Ethereum (ETH) network, its technology, and the markets build around it. On Tuesday, the CFTC published a Request for Input (RFI) that requests the public’s feedback on different questions concerning Ethereum. The RFI explains that its goal is to inform the CFTC about Ethereum and similar emerging technology, saying, “The input from this request will advance the CFTC’s mission of ensuring the integrity of the derivatives market as well as monitoring and reducing the systematic risk by enhancing legal certainty in the markets. The RFI seeks to understand the similarities and distinctions between certain virtual currencies, including here ether and bitcoin, as well as ether-specific opportunities, challenges, and risks.”
The United States Securities and Exchange Commission (US SEC) is ordering that cryptocurrency asset manager CoinAlpha Advisors LLC pay a USD$50,000 fine, alleging that the firm conducted an unregistered securities sale. After forming in October 2017, CoinAlpha raised more than USD$600,000 from investors to invest in digital assets. In an official release, the US SEC said that CoinAlpha did not file a Notice of Exempt Offering of Securities, meaning that the firm breached securities laws by soliciting securities investors. Additionally, the firm allegedly did not adhere to proper know-your-customer procedures to verify that investors were accredited.
Venezuela is reportedly beginning to convert its citizens’ monthly pension payments into Petros, Venezuela’s controversial state and oil-backed cryptocurrency, according to a report by local economics blog the Caracas Chronicles. The conversion of Venezuelan pensioners’ payments into Petros came after the country already sent pensioners their monthly payment in the form of a check for Venezuelan Bolivars -- normally, upon receiving their check, pensioners would deposit their funds into a bank account where they could then withdraw fiat from local branches. The Venezuelan government, however, converted pensioners’ fiat payments into the Petro upon their deposit into a bank. In the first few weeks of the Petro’s existence, its value has risen from 9,000 to more than 15,000.
Warren Davidson, an Ohio Congressman and notable advocate of blockchain and digital assets, is floating blockchain technology as a solution to fund US President Donald Trump’s prospective US-Mexico border wall. While interviewing with NPR, Congressman Davidson suggested, “the American people, or whomever should choose to donate,” could pay for the border wall, adding, “you could do it with sort of like a crowdfunding site or you could do a blockchain and you could have WallCoins.”
“The long-term value of Bitcoin (BTC) is more likely to be USD$100 than USD$100,000,” says Kenneth Rogoff, a former Chief Economist for the International Monetary Fund (IMF) and the current Harvard University Professor of Economics and Public Policy. While writing an article for major UK news outlet The Guardian, Rogoff highlighted that, because BTC’s use is limited to transactions, it makes the digital asset more vulnerable to a bubble-like collapse. Rogoff also cited that BTC’s energy-intensive verification processes is, “vastly less efficient,” than systems that leverage, “a trusted central authority like a central bank.”
A new report by PeckShield, a blockchain security company that monitors various cryptocurrency ecosystems, details that decentralized applications (DApps) on the EOS (EOS) blockchain have lost as much as USD$1mm in hacks since July 2018. The report details further that DApps on the EOS network have sustained 27 breaches since July, which are responsible for the up to 400,000 EOS that have been compromised from hacks. Guo Yonggang, a blockchain security expert cited in a report on the matter by crypto media firm Blockchain Truth, believes that the hacks can be attributed to security problems with the DApps themselves, rather than with the EOS network.
A new study published by the Cambridge Centre for Alternative Finance on Wednesday finds that the number of unique ID-verified cryptocurrency users nearly doubled in in the first 3 quarters of 2018. The study details that total ID-verified users increased to 35mm in the first three quarters of 2018 from 18mm at the end of 2017, representing an increase of 94%. As per an analysis of the study by Bloomberg, the growth of crypto’s userbase despite the market decline, “could signal that an eventual recovery could be coming.”
Amid the continued cryptocurrency sell-off, only two cryptocurrency mining machines remain profitable, according to real-time data from ASICMinerValue.com. ASICMInerValue.com, which calculates the profitability of Application-Specific Integrated Circuit (ASIC) miners, indicates that only indicates that only the Ebank Ebit E11++ and ASICminer 8 Nano 44Th mining models are profitable for mining cryptocurrencies based on the SHA-256 hash function -- notable cryptocurrencies like Bitcoin (BTC) and Bitcoin Cash (BCH) use this has function.
Bitmain, a large Chinese cryptocurrency mining firm, announced that it is closing its development center in Israel, citing current cryptocurrency market conditions. In closing Bitmaintech Israel, the crypto mining giant was forced to fire all 23 employees. Among the employees let go is Gadi Glikberg, head of Bitmain’s Israeli branch and Vice President of International Sales, who said on the recent market turmoil, “The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation.”
Busan, a major South Korean city, will be the beneficiary of the South Korean government’s plan to spend 4bn Korean won (USD$3.5mm) to establish a blockchain-enabled virtual power plant (VPP). As per a report by South Korean news outlet Yonhap News Agency, the project will be angled as a national competition in 2019, hosted by South Korea’s largest electric utility, Korea Electric Power Corporation (KEPCO). The VPP will integrate the idle capacities of multiple energy resources through a cloud-based distributed ledger in order to optimize power generation and decrease costs.
Church’s Chicken, a large international fast food franchise, is partnering with Dash Venezuela to accept cryptocurrencies in its Venezuelan locations. According to an official press release, 13 Church’s Chicken establishments will begin accepting Dash (DASH) as payment following, “extensive and rigorous days of training,” staff to understand cryptocurrencies. With the addition of Church’s Chicken, more than 2,200 establishments in Venezuela accept DASH as payment.
Crypto.com, a Hong Kong-based cryptocurrency payments platform, announced the appointment of former PayPal executive Tyson Hackwood to serve as the firm’s Vice President and Head of Global Merchant Acquisition in an official press release today. Crypto.com aims to increase cryptocurrency adoption by both merchants and consumers through their point-of-sale (PoS) transaction terminals. Crypto.com CEO Kris Marszalek believes that Hackwood will be integral in furthering this goal, saying, “As we develop the Crypto.com Chain to fulfill the current industry need to pay and be paid in crypto, Tyson will play an important role in expanding the number and quality of merchants that are part of our network.”
Hyperledger, a notable blockchain consortium, is continuing its robust expansion after announcing the addition of 16 new members at the Hyperledger Global Forum in Basel, Switzerland. Among the notables to join the consortium are, Alibaba Cloud, Citigroup’s Citi Ventures arm, and Deutsche Telekom. The latest addition of 16 members brings the total membership of Hyperledger to more than 260 different companies. In a public statement, Hyperledger Executive Director Brian Behlendorf said that, “The growing Hyperledger community reflects the increasing importance of open source efforts to build enterprise blockchain technologies across industries and markets. The latest members showcase the widening interest in and impact of DLT and Hyperledger."
Jeremy Henrickson, the former Chief Product Officer at Coinbase, has departed the US-based cryptocurrency exchange after serving since July 2016. “Jeremy’s contributions to Coinbase over the past two years were invaluable,” said a Coinbase spokesperson, adding that, “he helped to build our scrappy startup team into a high-functioning product and engineering organization -- overseeing a 5x+ growth of the team.” Henrickson’s departure comes after long-term Coinbase executives Adam White and Hunter Merghart left the US-based cryptocurrency exchange in recent months.
LinkedIn’s, “2018 U.S. Emerging Jobs,” report released on Thursday ranks the role of blockchain developer as the fastest growing job in the United States. The report by LinkedIn indicates that blockchain developer jobs have increased 33-fold in the past 12 months alone. San Francisco, New York City, and Atlanta are among the cities with the highest demand for blockchain developer jobs.
Orbs, a unique hybrid blockchain platform, raised more than USD$15mm in cryptocurrencies to fund its development of a public blockchain, according to a company blog post. South Korean application provider Kakao lead the fundraising efforts with a representative telling CoinDesk that the company, “always seeks to invest and support innovative startups, and Orbs is a good example.” In total, Orbs raised 139,000 Ether (ETH) and 892 Bitcoin (BTC), amounting to roughly USD$15.4mm. Orbs aims to build a public blockchain with this funding that is, “universal,” and, “scalable,” for decentralized applications (DApps) with the, “liquidity of a base layer.”
Samsung has reportedly filed patent applications for three different blockchain-related trademark requests that all pertain directly to smartphones, according to news outlet Galaxy Club. Specifically, the patents named “Blockchain KeyStore”, “Blockchain Key Box”, and “Blockchain Core” all pertain to cryptocurrency custody capabilities on smartphones. This news comes amid the release of HTC’s Exodus 1 and Sirin Labs’ FINNEY, both of which are being marketed as blockchain smartphones with cryptocurrency custody capabilities.
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