Day: July 24, 2017

Hello and welcome to News BTC’s Market Outlook July 25. DASH/USD DASH looked slightly bullish during the day on Monday, as we broke above the $202 level. The market looks likely to test the $210 level where it will face a significant amount of resistance. Short-term pullback should continue to be buying opportunities as we … Continue reading DASH/USD and LTC/USD Technical Analysis July 25, 2017

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The operators of a bitcoin hedge fund have launched a $5 million fund for investing in cryptocurrency and initial coin offerings.

Source

Hello and welcome to News BTC’s Market Outlook July 25. ETH/USD Ethereum has done very little during the session on Monday, so looks like for consolidation is probably to be had. The $240 level above continues to offer resistance, so if we can break above there, the market is likely to continue grinding higher. The … Continue reading ETH/USD and ETH/BTC Technical Analysis July 25, 2017

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Hello and welcome to News BTC’s Market Outlook July 25. BTC/USD Bitcoin initially fell against the US dollar and early Monday trading, but turned around to show signs of resiliency yet again. It appears that we are currently consolidating, but the market looks very likely to continue to grind its way towards the $3000 level. … Continue reading BTC/USD and BTC/JPY Technical Analysis July 25, 2017

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How are Ethereum, IPFS/Filecoin, and BigchainDB complementary? What about Golem, Polkadot, or Interledger? I often get questions like this. So, I decided to write about how I answer those questions, via a first-principles framing.

The quick answer: there’s no one magic system called “blockchain” that magically does everything. Rather, there are really good building blocks of computing that can be used together to create effective decentralized applications. Ethereum can play a role, BigchainDB can play a role, and many more as well. Let’s explore…

Key Highlights ETH price remained below the $230-236 resistance area and failed to gain traction against the US Dollar. Yesterday’s highlighted bearish trend line with current resistance near $228 on the hourly chart of ETH/USD (data feed via SimpleFX) is still intact. The price has slowly moved below the 100 hourly SMA, but there is … Continue reading Ethereum Price Technical Analysis – ETH/USD Upside Capped

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In the last days of July 2017, the Bitcoin miners have unanimously decided to signal for Segregated Witness, ending a years long scaling debate discussion. However a few participants decided to reject this decision and create their own Bitcoin fork, Bitcoin Cash (also known as BCC, ABC or UAHF).

As a result, all Bitcoin holders will be granted a new duplicated Bitcoin Cash balance (literally airdropped free money) if the fork activates — this post and the follow ups will describe how you can best secure this new balance, then decide to trade it, hold it or sell it as you wish.

Bitcoin price could be due for an upside break from this short-term consolidation pattern, which looks like a bullish flag on long-term time frames.

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Key Highlights Dash price surged higher and broke a major resistance at $165 and $180 versus the US Dollar. There is a bullish trend line forming with support at $195 on the hourly chart of DASH/USD (data feed from Poloniex). The price is currently correcting lower, but remains supported around the $198 and $195 levels. … Continue reading Dash Price Technical Analysis – DASH/USD Buy Dips?

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Cryptocurrency has taken the online e-currency market by storm in recent years. The likes of Bitcoin have gone all out and it’s currently the fastest growing e-currency in the world by a considerable margin. As of July 2017, Bitcoin has made investors billions and it’s currently worth more than $2,200 apiece. It’s uncertain how much further the value of Bitcoin is expected to grow, but as its market cap alone was valued at more than $40 billion in May 2017, it’s certainly a cryptocurrency worth implementing online.

That’s why many merchants and businesses and e-commerce stores have sided with cryptocurrencies such as Bitcoin. It seems they are the go-to e-currencies right now, along with the standard PayPal and Skrill payments.

The E-Commerce Industry Has Seen a Rise in Merchants Implementing Bitcoin

Popular domain registrar, Name Cheap, has been accepting Bitcoin for a while now and it’s businesses like that that have seen a rise in consumers because of the popularity of cryptocurrencies like Bitcoin.

Many web developers now use Bitcoin as a standard payment method for their web development resources such as domain registration, web hosting, and even as their primary method for their own web development businesses.

Online Bookmakers Have Been Using Bitcoin for Years

While many official bookmakers haven’t quite got to grips with cryptocurrency yet, there are still several online bookmakers that have implemented it as a deposit and withdrawal payment method. It looks set to grow in popularity with bookmakers in 2017 because it offers a fast and easy deposit method, much like the process PayPal and Neteller offers.

University Outlets Have Seen a Rise in Cryptocurrency Implementation

Those studying for an online healthcare MBA using a healthcare MBA online program now have it easy when it comes to paying for their online courses. With cryptocurrency now available as a payment method, many more students have opted to obtain their degree using online courses provided by multiple universities around the United States.

Popular Online Marketplaces Now Use Bitcoin

While the likes of Amazon have still yet to implement Bitcoin as a payment method, there are still other stores that use it. For those with Shopify stores, for example, Bitcoin is a payment available to both you and your customers.

Shopify is one of the few stores and e-commerce set ups that have provided Bitcoin as a payment option for more than three years. Shopify announced in November 2013 that the cryptocurrency was available for all merchants to implement into their own set ups. It’s unclear whether any of the other big marketplaces will implement it anytime soon, but it’s not a matter of if they are going to implement it, it’s a matter of when.

Although Bitcoin holds the number one spot as the most popular cryptocurrency available, there are still other fast-growing currencies that are providing much bigger competition. It is clear Bitcoin is loved by many and it’s almost certain to be a popular payment method with bigger e-commerce stores in the future.

The U.S. Commodity Futures Trading Commission (CFTC) has approved institutional bitcoin derivatives platform Ledgerx LLC as the first federally-regulated bitcoin options exchange and clearinghouse. Ledgerx plans to start trading bitcoin options in the fall and ether options a few months after that.

Also read: Ledgerx Receives Federal Approval as a Regulated Bitcoin Swap Exchange

The First Bitcoin Exchange and Clearinghouse Approved

Founded in 2013, institutional bitcoin derivatives trading and clearing platform Ledgerx has been approved by the CFTC as a fully-regulated bitcoin options exchange and clearinghouse. The Commission approved the company as a Swap Execution Facilities (SEF) early this month and then, on Monday, as a Derivatives Clearing Organization (DCO).

Ledgerx has become the first digital currency platform to be both a SEF and a DCO. The Commission announced on Monday:

By a unanimous vote of the Commission, it has issued an order granting Ledgerx, LLC (Ledgerx) registration as a derivatives clearing organization under the Commodity Exchange Act (CEA)…Under the order, Ledgerx will be authorized to provide clearing services for fully-collateralized digital currency swaps.

Ledgerx CEO Paul Chou conveyed to Reuters that it took the Commission more than two years to grant his company the two statuses, due to a long education process. He has also been a member of the CFTC’s Technology Advisory Committee. In May, the company received funding of $11.4 million led by Miami International Holdings Inc and Huiyin Blockchain Venture Investments.

Ledgerx plans to launch bitcoin options in the early fall, and ether options “within a few months,” Chou told CNBC. “Initially, Ledgerx expects to list one- to six-month option contracts for bitcoin. Other digital currency contracts such as ethereum (ETH) options are expected to follow,” he told Reuters.

Institutional Investors Can Now Enter the Space

“Having a regulated clearinghouse will open the market to a lot of other investors such as large institutions,” Reuters quoted Chou saying, adding that a proper regulatory framework will make institutional investors comfortable and open the market up to them. He further commented:

We are seeing strong demand from institutions that previously could not participate in the bitcoin market due to compliance restrictions against unregulated venues. In particular, there is a desire for fund managers to hold financial instruments that are not correlated with the broader equity market, and digital currencies meet that need.

In an interview with CNBC, he said “we’re really excited to welcome a whole host of parties that traditionally have been very retail-oriented.” Furthermore, he expects “very large asset managers to enter the space” as a result of the CFTC’s approval.

Exemption Granted

In addition, the CFTC has granted Ledgerx an exemption from Section 39 of the Commodity Exchange Act. The Commission wrote, “in response to a request from Ledgerx, the Commission’s Division of Clearing and Risk also today issued a letter exempting Ledgerx from complying with certain Commission regulations due to Ledgerx’s fully-collateralized clearing model.”

Without this exemption, Ledgerx as a clearinghouse would have to undertake monthly stress tests of its financial resources “to ensure that it could withstand the default of its largest participant,” Waters Technology explained. Chou told CNBC that the exemption was due to his company’s plan to “not allow very leveraged trading.”

Do you think Ledgerx’s platform will bring institutional investors to bitcoin? Let us know in the comments section below.

Images courtesy of Shutterstock, CFTC, and Ledgerx

Need to calculate your bitcoin holdings? Check our tools section.

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Making deposits and withdrawing payouts has become easier than ever before. Online gamers have a variety of safe and reliable payment options to choose available in a multiple currencies. Players can conveniently handle banking using a number of international and local methods. With so many options, which ones make the most sense? Let’s take a look at two of the increasingly popular banking options at online casino sites, Bitcoin and PayPal, to find out which make the most sense for players.

PayPal Casino Banking

PayPal offers extremely secure and fast online payments. While not all casinos accept PayPal, many of the popular online casino sites do. Online casinos that work with PayPal include popular international online casinos like Jackpot City Casino, 888Casino, Spin Palace Casino, and 32Red Casino.

So how does it work?

PayPal serves as the middleman between you and the casino. You add money to PayPal from your bank account. Typically, the money will enter your PayPal account instantly. You can then transfer the money from PayPal and send it to the casino in order to make a deposit or vice versa. In this way, you never actually have to share your banking information with the casino.

Advantages

• You don’t have to share your bank account information with the gambling site.
• PayPal has a good reputation and has partnerships with big credit card services like MasterCard.
• PayPal imposes strict security protocols. The company will block any online casino that violates those terms.

Disadvantages

• Not as many casinos accept PayPal.
• Sometimes hackers can break into PayPal accounts.

Bitcoin Casino Banking

Bitcoin has become one of the latest ‘hot’ new trends in online casino gaming. While not everyone has warmed up to this futuristic currency, Bitcoin has many advantages. Slowly, but surely online casinos have started to accept this digital currency as a form of payment. Casino sites that accept Bitcoin include NetBet and Casino.com.

How does it work?

They call it a cryptocurrency. Bitcoin is a peer-to-peer digital payment system in which transactions take place directly between users with no middle man or central repository. In order to use Bitcoin at the online casino, you may need to also set up a compatible e-wallet like Bitcoin Core or BitGo in order to transfers funds.

Advantages

• Bitcoin offers cheap, quick transactions.
• You don’t have to share your banking information with the casino.
• As a cryptocurrency, you don’t run the risk of hackers stealing your financial information.

Disadvantages

• Not many online casinos accept Bitcoin.
• Bitcoin is still a new type of currency, and the future is uncertain.
• Online casinos may require players to set up a Bitcoin e-wallet.

Whether you prefer Bitcoin or PayPal, you really don’t have to choose between the two. You can try out both to find out which work best for you. Check if the online casino has banking bonuses for either PayPal or Bitcoin to see if you can get some extra playing money. Most importantly, make sure you keep your head in the game and do you best when it comes to playing (and winning) online casino games without losing too much.

Japanese exchanges have resumed bitcoin deposits and withdrawals after suspending them on July 23. These exchanges are members of the Japan Cryptocurrency Business Association (JCBA). Merchant services were also suspended, causing Japanese retailers to halt taking bitcoin payments during that time.

Also read: Thousands of Japanese Stores May Suspend Bitcoin Payments on August 1

The July 23 Suspension Lifted

Thirteen Japanese bitcoin exchange, members of the Japan Cryptocurrency Business Association (JCBA), halted their bitcoin services on July 23, after BIP91 was locked in three days prior. All exchange members followed through with the suspension of bitcoin deposits and withdrawals as well as any payment services they offer.

On Monday, the JCBA issued a statement canceling the precautionary suspension. Stating that 24 hours have passed since the suspension began, the association wrote “so far concerns of the occurrence of a split that interferes with the operation of the blockchain was not recognized,” adding that:

As for the stop measures for accepting and withdrawing bitcoins, we decided to cancel the suspension based on the judgment of each member at this time, and already some members have resumed bitcoin deposits and withdrawals.

Some exchanges were planning to halt bitcoin service longer. Bitpoint, for example, suspended bitcoin services at 13:45 Japan time on July 23. The exchange originally planned to resume its bitcoin services at 16:00 on July 25, but will now resume on July 24 at 16:00.

Merchants Temporarily Halted Accepting Bitcoins

Along with their bitcoin merchant service providers, Japanese retailers and restaurants that accept bitcoin payments also stopped accepting the cryptocurrency during that time. NHK reported on the 23rd that along with bitcoin exchanges, “at restaurants and other places where payments can be made with bitcoins, the service cannot be used at this time.”

Among them is Numazuko Ginza sushi restaurant in Tokyo, which had to notify customers visiting the restaurant that the bitcoin payment option was not available after Coincheck suspended its merchant services, the publication detailed. Restaurant manager Ken Nagahama has seen a rise in customers wanting to pay with the digital currency over the past few months. He said “I think that this is a useless measure for improving Bitcoin, and I hope that stability will continue,” the news outlet quoted him saying.

August 1 Suspension Still On Schedule

The JCBA and its bitcoin exchange members will still suspend bitcoin services on August 1. They have also been preparing for how to deal with the new cryptocurrency, to be called “Bitcon Cash” which is expected to result from the planned hard fork on that date. The association reiterated in Monday’s announcement:

Since there is a possibility of a split by hard fork on August 1st, each member will take measures such as establishing a suspension period again in order to deal with it.

Do you think bitcoin exchanges and merchants should suspend bitcoin services on August 1? Let us know in the comments section below.

Images courtesy of Shutterstock and News4europe

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