Day: September 4, 2017

Latin American social site Taringa has suffered a massive breach of user data with login details for nearly all of the site’s users compromised.

The price of bitcoin continued its downward trajectory late Monday, falling $1,000 from its most recent all-time high set Friday.

MobileGo is back in selloff mode after failing to break past key resistance levels against bitcoin and ethereum.

The post MobileGo Price Technical Analysis for 09/05/2017 – Bears Take the Upper Hand appeared first on NEWSBTC.

Singapore’s gentle regulation makes them an ideal place to found cryptocurrency startups and launch ICOs

Bitcoin price made a sharp downside break of nearby support but still has plenty of potential floors to bounce from.

The post Bitcoin Price Technical Analysis for 09/05/2017 – China ICO Funding Ban Triggers Sharp Drop appeared first on NEWSBTC.

The South Korean digital currency task force held a joint meeting to discuss the introduction of stricter regulation and monitoring of virtual currencies

Jayceon Terrell Taylor, better known as The Game in rap circles, has taken his belief in the positive properties of Cannabis by joining a Blockchain technology company called Paragon.

Paragon, led by former Miss Iowa Jessica Versteeg, is looking to standardize and regulate the Cannabis industry using the power of an immutable ledger on Blockchain technology in order for the controversial plant to compete with Big Pharma.

Celebrity endorsements for disruptive technology

While The Game’s involvement goes far deeper than simply being a celebrity endorsement for Paragon – as he sits on the advisory board – there has been an influx of big names outside of the world of technology, investment, and money, seeing the value of Blockchain technology.

The likes of boxer Floyd Mayweather and footballer Luis Suarez have both posted about a prediction market ICO called Stox while Bollywood celebrities such as Shilpa Shetty, Raj Kundra, Huma Qureshi, Neha Dhupia, Vir Das, Nargis Fakhri and Prachi Desai, have all expressed interest in Bitcoin.

A Game changing Paragon

The Game is a well known supporter of Cannabis and has been a champion of the legalization movement that has seen 20 states across the US lessen its regulations on the drug.

The rapper owns his own dispensary and has been working on making his own strains and concentrates. Not only does The Game own a dispensary, but he also has a line of pot products, Trees by Game, which he claims is unlike any other medical weed brand out there.

The Game is now hoping people will be able to use the world’s latest revolutionary technology to further push for a Cannabis revolution with Paragon.

A new Cannabis Game

Paragon’s hope is that by using this disruptive Blockchain technology they can rocket an industry that is trying to boom into the mainstream. The issue for the Cannabis ecosystem thus far has been its fractured nature and the disconnect between the different sectors.

Growers operate separate from the labs that test the products who do their own thing out of sync from the distributors which all leads to very unregulated and unstandardized products.

Paragon believes that Blockchain technology, as an immutable ledger, can put all the information in one space across the board for users to view and scrutinize. From the seeds used to the fertilizer and water quality, as well as the doctors certificated and patient IDs, all this information is transparent on the blockchain.

Additionally, the creating of a specialised digital currency allows for easy payment across borders and bypasses legal issues with payment for the controversial drug.

Paragon also hopes to set up co-work spaces for Cannabis Startups to incubate and operate in order to again standardize the Cannabis economy, but also to provide an intellectual growth for the industry.

Disclosure: This is a sponsored article.

Virtually every cryptocurrency market experiences a flash crash every now and then. Taking advantage of these large dips is not all that easy for most traders, though. One cryptocurrency enthusiast built the Bittrex Flash Crash Buyer Bot to tackle this problem. It is still a third-party project that asks for your API key and other secret information, but it could well be worth checking out after thoroughly vetting the code.

The Bittrex Flash Crash Buyer Bot has Potential

With so many price fluctuations in the world of cryptocurrency, there are plenty of buying opportunities to take advantage of. However, not everyone wants to stare at charts all day long in order to get in on all the price action. Most flash crashes only last for a minute or slightly more, which creates a very tight window of opportunity for even the fastest hands. Without an automated solution, taking advantage of these crashes is nearly impossible. Setting up price alerts works, but you still need to be near a computer or mobile device with internet access to take advantage.

That may no longer be a problem for traders who use the Bittrex exchange. There is now a trading bot which aims to take advantage of any and all flash crashes in which users may be interested. One can use it to purchase Bitcoin, Ether, or Tether (USDT), depending on which option they prefer. The bot can also place an order if prices drop below a certain threshold in the absence of a major crash, which allows for a fair bit of functionality. All things considered, it is a trading solution that many people have been looking for over the years.

As Bittrex is gaining in popularity every single week, such a bot could prove to be quite lucrative in the long run. It guarantees users can buy up different currencies in an effort to make a profit. While not all of these purchases will result in profits immediately, it is a good way to diversify one’s portfolio without too much friction. It is quite a powerful tool once configured correctly, especially considering that it can auto-sell currencies and even cancel buy orders if they take too long to fill.

For the people using this bot, it is best to only monitor a few different markets at once. The more markets that are added to the bot, the higher one’s chances are of missing out on a flash crash or buying opportunity altogether. That would not be in the best interest of the bot’s users by any means. So far, it seems monitoring three to four cryptocurrency markets simultaneously yields the best results, although functionality may be improved through future updates.

There is, however, one requirement in order to set up the Bittrex Flash Crash Buyer Bot correctly. The computer or server utilizing the bot must be running a recent version of Node.js. Once that is taken care of, the software should run just fine regardless of one’s operating system. With a lightweight code and installation process, most people will be up and scanning for flash crashes within mere minutes. The bigger problem is obtaining the bot, as its code is not free or open source right now. Instead, the owner aims to sell it for 0.5 ETH, which is a pretty low price considering the functionality one gets in return. Buyers will also get the full source code of the bot to properly check out the inner workings of this new tool.

Exchange trades will become more automated over time. Bittrex and Poloniex are already home to a fair amount of trading bots. Not too long ago, we touched upon the PoloNuke bot used to liquidate altcoin balances in one go. This Bittrex Flash Crash Buyer Bot does the exact opposite.  Both are intriguing and potentially profitable new tools in the cryptocurrency trader’s toolbox.

Even with all of the limitations, the ATM data still reveal key information about a Bitcoin ATM user targeted by the owners of the ATMs.

Many merchants and non-profit groups accept bitcoin these days, but some of them convert the digital currency into fiat reserves immediately after receiving bitcoin; oftentimes to avoid volatility. However, two well-known organizations, Overstock.com and the Internet Archive (Wayback Machine) recently revealed in their earnings reports they are hedging bitcoin to make some nice profits and to see how the grand experiment works.

Also read: Popular Korean Talk-Based Stock Trading App Adding Cryptocurrency Exchange

The Wayback Machine Recalls Accepting Bitcoin Donations in 2012 and Hodling

The Internet Archive is a San Francisco–based non-profit that aims to provide “universal access to all knowledge” with its library of digitized content and a vast amount of recorded web pages. The portal was founded in 1996 by Brewster Kahle and has a collection of over 15 petabytes of data. Operating as a 501(c)(3) non-profit, the Internet Archive has accepted bitcoin donations since 2012. This week Kahle decided to explain to the public in a blog post why bitcoin remains a fixture in the nonprofit’s balance sheet.

“A foundation was curious as to why we have Bitcoin on our balance sheet, and I thought I would explain it publicly,” explains Kahle. “The Internet Archive explores how bitcoin and other Internet innovations can be useful in the non-profit sphere – this is part of it. We want to see how donated bitcoin can be used, not just sold off.”

Not Cashing In for Dollars

Kahle goes on to reminisce on how the organization began accepting bitcoin and notes that they paid a few employees with it for a few years. At one time one-third of the team that worked for the Internet Archive opted to get bitcoins in their salary. In 2013 the non-profit’s founder added a bitcoin ATM for the website as well.

“A few years later, the price had gone up so much, I personally bought some at the going rate to decrease financial risk to the Internet Archive, but then I did not just cash those in for dollars,” the web archive’s founder explains.  

What we are doing is trying to “play the game” and see how it works for non-profits. It is not an investment for us, it is testing a technology in an open way. If you want to see the donations to us in bitcoin, they are here.

Overstock Sees Nice Gains in the Coin Department

Another organization who is hedging bitcoin this year is Overstock.com. At the beginning of August the company’s CEO, Patrick Byrne revealed it is currently stashing fifty percent of its bitcoin revenue. Byrne has been long-time bitcoin proponent and believes the technology behind the decentralized currency will be the future of finance. During a budget report, Byrne revealed the business used to keep 10 percent of the daily bitcoin revenue the company earned and converted the rest of the funds to USD. Now Byrne details that the corporation’s board of directors has authorized a strategy to hold fifty percent of the firm’s bitcoin revenue. The Overstock founder also hinted to hedging other digital assets during the meeting.

“I mean we can keep it either in Bitcoin or in some assortment of crypto-securities,” explains Byrne during the company’s earnings report. “So you’ll see a portfolio emerge there. We’ve had there — had some good luck with some of our — we’ve been storing some coins from counterparties for a couple of years, and they’ve grown up nicely.”

Anyway, we have some nice gains in the coin department.

With bitcoin increasing over 600 percent since last January, companies and non-profits who opt to hedge bitcoin revenue are probably doing pretty well. Further, Overstock just announced this month it was accepting a variety of altcoins, so it will be interesting to see if the firm continues to diversify its portfolio. Bitcoin and other cryptocurrencies are becoming extremely valuable assets and may benefit an organization’s yearly budget a great deal.

What do you think about organizations like the Internet Archive and Overstock hodling bitcoins? Let us know in the comments below.

Images via Wallpaper Cave-Ducktales, The Internet Archive, and Overstock.com.

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

The post Internet Archive and Overstock to ‘Hodl’ More Bitcoin Revenue and Donations appeared first on Bitcoin News.

This article aims to provide useful tips that might help develop ICO terms and conditions.