Rememberful Bitcoin News.
Bitcoin startups must have the tech’s best interests in mind? Entrepreneur Edan Yago argues that in the case of Segwit2x, this has proven untrue.
Bitcoin startups must have the tech’s best interests in mind? Entrepreneur Edan Yago argues that in the case of Segwit2x, this has proven untrue.
Bitcoin Cash (BCH) now has a US$10.4 billion market capitalization, making it the fourth largest cryptocurrency. Trading volume re-asserts this position, with ~US$344 million in trades during the past 24hrs. However, the network has been suffering from…
Bitcoin Cash (BCH) now has a US$10.4 billion market capitalization, making it the fourth largest cryptocurrency. Trading volume re-asserts this position, with ~US$344 million in trades during the past 24hrs. However, the network has been suffering from some erratic behaviour, and has had very few transactions per day.BCH was launched in August 2017, and is a fork of the Bitcoin (BTC) blockchain and protocol. The alternative cryptocurrency promised to provide a payment network that cost less than BTC, which has suffered from rising fees during and after the end of the scaling debate.
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News) |
Industry CEO Believes Bitcoin’s Anonymity Dooms It, Predicts Governments Will Ban
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News) Fredric Oudea believes that the future of Bitcoin and other virtual currencies is dim, primarily because he expects governments and regulators to clamp down on them. The reason he gives is the anonymity involved in these transactions, which might … |
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News) | Industry CEO Believes Bitcoin's Anonymity Dooms It, Predicts Governments Will Ban Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News) Fredric Oudea believes that the future of Bitcoin and other virtual currencies is dim, primarily because he expects governments and regulators to clamp down on them. The reason he gives is the anonymity involved in these transactions, which might ... |
Will governments ban Bitcoin because of its anonymity? Not so fast–Bitcoin isn’t anonymous at all!
Will governments ban Bitcoin because of its anonymity? Not so fast–Bitcoin isn’t anonymous at all!
Bitcoin News (press release)Two Popular Hardware Wallet Firms Reveal Segwit2x Fork PlansBitcoin News (press release)This week two well-known bitcoin hardware wallet manufacturers, Satoshi Labs (Trezor) and Ledger Wallet, revealed their contingency plan…
Bitcoin News (press release) | Two Popular Hardware Wallet Firms Reveal Segwit2x Fork Plans Bitcoin News (press release) This week two well-known bitcoin hardware wallet manufacturers, Satoshi Labs (Trezor) and Ledger Wallet, revealed their contingency plans for the pending Segwit2x fork that may take place in nine days. Both companies explain they will support both ... |
This week two well-known bitcoin hardware wallet manufacturers, Satoshi Labs (Trezor) and Ledger Wallet, revealed their contingency plans for the pending Segwit2x fork that may take place in nine days. Both companies explain they will support both chains and tethered tokens if there is a split and provide a tool for the splitting process. Also […]
The post Two Popular Hardware Wallet Firms Reveal Segwit2x Fork Plans appeared first on Bitcoin News.
This week two well-known bitcoin hardware wallet manufacturers, Satoshi Labs (Trezor) and Ledger Wallet, revealed their contingency plans for the pending Segwit2x fork that may take place in nine days. Both companies explain they will support both chains and tethered tokens if there is a split and provide a tool for the splitting process.
Also read: CEX.io and Unocoin Announce Fork Arrangements
The hard fork announcements keep piling up as block 494784 approaches with many cryptocurrency based businesses revealing their plans. On November 6 the two hardware wallet companies Satoshi Labs and Ledger explained how the firms would handle the upcoming fork. Satoshi Labs explains Segwit2x is a proposal to fork the network by increasing the block size to 2 MB. The company says the fork “is a contentious hard fork” that will likely result in a split. However Satoshi Labs explains Trezor wallets will support both chains calling the Segwit2x token “B2X,” and wallet owners will receive a 1:1 distribution if a split occurs.
“If you have held BTC on your Trezor before the fork, you will own the same amount of BTC and B2X after the fork — With Trezor, you own your private keys (in the form of the seed), therefore you have control over all of your coins, including forked coins,” explains Satoshi Labs.
The Prague-based firm explains their users need to be careful sending transactions during the fork due to Segwit2x’s lack of replay protection. Additionally, Satoshi Labs will provide a splitting guide and tool for users looking to obtain B2X within the platform’s beta version.
“B2X will use the same address format as Bitcoin,” Satoshi Labs notes. “However, Trezor will generate B2X addresses with a different derivation path.”
When transacting, please make sure you are sending the right coins to the correct chain.
The France-based Ledger Wallet also says it will support both chains and the associated tokens if a split happens. Ledger explains users should be precautious about sending transactions during the fork and says users should “wait until the dust settles.”
“As for the previous bitcoin cash fork, we’ll let our users trade on both chains and split coins easily, even if the ride might be slightly more bumpy due to the fact that Segwit2x was not initially designed to cause a split,” details Ledger’s fork announcement.
For the sake of clarity and as different actors might name a different chain “Bitcoin” during the fork and some time after, we’ll call in this article the current Bitcoin chain Bitcoin-1x and the potential Segwit2x chain Bitcoin-2x.
Ledger also details the company’s wallet platform will display a warning if a user’s transaction is vulnerable to replay attacks. At that point, the platform will ask the user if they want to split the coins or they can choose to bypass the warning as well. Additionally Ledger will offer both a non-custodian and “half custodian” process to split tokens after block 494784.
“The non-custodian process will rely on the software created by the chainspl.it initiative and offer a command line or web interface to use it with Ledger Nano, Nano S or Blue — It’ll be non automated and recommended for advanced users only,” Ledger’s plan details. “The “half custodian” process will involve a new Ledger application created for the Nano S and Blue (it will not be available on Ledger Nano) and will be fully automated.”
We’ll make available tainted inputs to our users with a contract enforced by the new application that sends back those tainted inputs to us — this is possible because our secure applications distribution architecture allows to securely share a set of keys with our users without revealing it. In other words, our splitting app will take care of everything automatically and with the highest levels of security.
Members of the bitcoin ‘community’ seem pleased that both hardware wallet manufacturers plan to support both chains. There hasn’t been any word from other hardware wallet companies just yet like Shapeshift’s Keepkey, Digital Bitbox, and more. A month ago a Keepkey representative stated the company doesn’t have “a position regarding (ideological) support for or against this fork, or any fork.” However, the Keepkey team member explains the company plans to support “any viable fork impacting supported assets.”
What do you think about Trezor and Ledger Wallet supporting both chains? Let us know in the comments below.
Images via Shutterstock, Satoshi Labs, and Ledger Wallet.
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Coin
Coin
BTC Inc., parent group of BTC Studios, BTC Labs and BTC Media, and Genesis Mining, a cloud mining service provider, recently announced a partnership to launch Genesis Engineering, a Hong Kong–based joint venture focused on promoting and developing t…
BTC Inc., parent group of BTC Studios, BTC Labs and BTC Media, and Genesis Mining, a cloud mining service provider, recently announced a partnership to launch Genesis Engineering, a Hong Kong–based joint venture focused on promoting and developing the cryptocurrency mining industry worldwide, with a special focus on emerging and underserved markets.
“We see opportunities in terms of excess capacity worldwide in such regions as the Americas and Eurasia, said David Bailey, CEO of BTC Media. “Centers of mining are often places with excess capacity and relatively cheap electricity rates. As a result, mining operations bring benefits to those areas in terms of both employment and resource allocation.”
“The excess energy supply in certain regions is a big opportunity for mining worldwide,” added Genesis Mining CEO and Co-Founder Marco Streng. “We see the positives of mining ranging from individuals to large organizations. Whether it is a hobby, someone’s way to accumulate a certain cryptocurrency or a business with a profit motive, mining has been a positive endeavor for people all over the world. We look forward to growing the base of miners worldwide through promotion, education and new initiatives.”
“The formation of a partnership between BTC Inc. and Genesis Mining to create Genesis Engineering is important because it combines the leaders in the cryptocurrency information space and the cloud mining space to grow the industry in underserved markets at a time when crypto is in a position to be embraced by and benefit new markets,” John Riggins, Head of Development for Eurasia at Genesis Engineering, told Bitcoin Magazine.
“Genesis Engineering will be positioned as a mining information leader, promoting the industry through workshops and consulting in developing regions. We see an energy landscape that includes excess and unused electricity in markets that could benefit from the introduction of a crypto mining industry in their economy as China has benefited over the last few years.
“The crypto industry is in a growth stage and mining is a cornerstone of the industry that must grow in lock-step,” added Riggins. “Markets with excess energy capacity are in a good position to benefit as the mining industry develops, benefiting local economies through job creation and energy utilization.”
Riggins noted that the market of the post–Soviet Union is especially ripe for this sort of growth; therefore, Genesis Engineering will have a special focus in these countries. According to the company, these countries have the hallmarks of key regions for the development of cryptocurrency mining, including huge excess energy capacity, developed infrastructure and favorable climate conditions. For instance, oil producers in the region face an ecological tax on excess gases produced in oil excavation that is not put to use and is burned; this is gas that can be used to power mining facilities, create local jobs and make these countries regional leaders in the crypto industry.
“On the information and promotion side, we will be opening the first of multiple showrooms and co-working spaces in November,” Riggins said. “This facility will house a mining museum and will be used as a venue to promote the industry through workshops and a speaker series. On the consulting and mining business side, we are in negotiations with the largest electro energy production companies in the region, consulting on the positives of mining and the opportunity to use their spare capacity in these territories.”
Genesis Engineering will support the crypto mining industry broadly, including not only bitcoin but additional coins. It considers mining to be an important feature of the cryptocurrency sector, ensuring security and decentralization through incentives. The target market of Genesis Engineering ranges from hobbyists and small businesses reached by the company’s showrooms, co-working spaces and speaker series, to multinational energy companies and large-scale miners reached by the company’s consultancy and mining projects.
Besides promotion of cryptocurrency mining and related consulting work, Genesis Engineering will offer cloud mining services through Genesis Mining, with an initial focus on markets that have been underserved in Eurasia. The pricing structure will be similar to Genesis Mining’s current offering, but with a focus on making the service and mining equipment attractive in emerging markets, as well as to organizations that are interested in large-scale mining but have not yet entered the industry and will need to be led through that process.
Persuaded that cryptocurrency mining can be a boon to energy suppliers and populations in these regions, “Genesis Engineering will consider partnerships with energy providers and analyze how crypto mining could add value to different markets,” concluded Riggins.
The post BTC Inc. and Genesis Mining Launch Genesis Engineering and See Opportunity in Eurasia appeared first on Bitcoin Magazine.
I regularly receive inquiries from around the country regarding how gains and losses on cryptocurrency transactions are taxed. Unfortunately, to date, IRS guidance has been limited to Notice 2014-21, which, while it doesn’t tell us a whole lot, does ma…
I regularly receive inquiries from around the country regarding how gains and losses on cryptocurrency transactions are taxed. Unfortunately, to date, IRS guidance has been limited to Notice 2014-21, which, while it doesn’t tell us a whole lot, does make the following clear:
Global shipping giant UPS has become the latest member of a blockchain consortium focused on the trucking and shipping industry.
Global shipping giant UPS has become the latest member of a blockchain consortium focused on the trucking and shipping industry.
Futurism |
Goldman Sachs: Bitcoin Will Consolidate at $8000 Before Rising Even More
Futurism Bitcoin has been increasing in value at an incredible rate over the last few months. According to a high-ranking Goldman Sachs analyst, it won’t be long before the cryptocurrency breaks the $8,000 mark. Goldman Sachs predicts bitcoin can run past $7,900 – CNBC.comCNBC $8000: Goldman Sachs’ Analyst Predicts Bitcoin Price GainsCryptoCoinsNews Bitcoin Price Slides Further But Could Reverse LossesInvestopedia (blog) TNW –CoinDesk –Bloomberg all 24 news articles » |
Futurism | Goldman Sachs: Bitcoin Will Consolidate at $8000 Before Rising Even More Futurism Bitcoin has been increasing in value at an incredible rate over the last few months. According to a high-ranking Goldman Sachs analyst, it won't be long before the cryptocurrency breaks the $8,000 mark. Goldman Sachs predicts bitcoin can run past $7,900 - CNBC.com $8000: Goldman Sachs' Analyst Predicts Bitcoin Price Gains Bitcoin Price Slides Further But Could Reverse Losses |
For months on end, BTC-USD had a strong bullish rally that has been well confined between both a linear ascending channel and (on a macro scale) a parabolic curve:Figure 1: BTC-USD, 1-Day Candles, Linear and Parabolic TrendlinesAfter a very strong, …
For months on end, BTC-USD had a strong bullish rally that has been well confined between both a linear ascending channel and (on a macro scale) a parabolic curve:
Figure 1: BTC-USD, 1-Day Candles, Linear and Parabolic Trendlines
After a very strong, bullish rally, bitcoin managed to settle on a new all-time high in the $7,500s. This price peak bounced right off the upper linear ascending trendline shown in Figure 1. Historically, every time bitcoin has touched the upper ascending trendline, the market has gone through a corrective phase and entered into a relatively strong bearish reversal. At the time of this article, bitcoin is currently testing key, macro support of the lower $7,000 price range:
Figure 2: BTC-USD, 1-Hour Candles, Macro Support
The 23% Fibonacci support has been a point of interest in the market’s history and will prove to be strong support. BTC-USD has attempted to break this support level a couple of times already and we are currently making a third test. A break below this level of support could send the price down to the 38% retracement values and test the $6,700 prices. However, if we look at the previous price action (the red circle) that brought the price upward, we don’t see any consolidation or support in the market’s history. This tells us that the 38% price level most likely won’t prove to be significant support during a potential move downward and we can expect to find stronger support in lower values around the $6,400–$6,500 prices.
Historically, during correction periods, bitcoin has retraced 50–61% of the initial bull run:
Figure 3: BTC-USD, 12-Hour Candles, Retracement Trend
The 50–61% retracement trend has formed a very nice, consistent ascending trendline for the lower support values. Unfortunately in this case, a retracement to the lower trendline would shove us outside the parabolic envelope described in the last bitcoin market analysis. On a macro level, if we do continue on a macro retracement to the 50–61% retracement values, we will likely find support on the lower parabolic curve in the $5,300s.
Overall, bitcoin appears to be experiencing a slow bleed and will likely continue until some buying pressure picks up on the market. In general, the bullish pressure is somewhat exhausted, and if there is a resumption of an uptrend, we will likely see support and bullish continuation off the 23% retracement and $6,500 values outlined in Figure 3.
Right now, bitcoin is in a precarious situation because it’s sitting just above support at the $7,000 level and doesn’t appear to have any interest in climbing back up just yet. Keep an eye on this support level and watch for a rise in volume on the next test of support. If we break this support level, it’s likely to continue downward for several hundred dollars before finding support once again.
Bitcoin topped out its all-time high at the upper boundary of a macro, linear trendline.
Historically, a test of this trendline has prompted a market correction — it is likely that this trend will continue.
We are testing key support at the $7,000 price level and a move below this support will signal a continuation of the down trend.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
The post Bitcoin Price Analysis: Bitcoin’s All-Time High Tests a Historic Reversal Point appeared first on Bitcoin Magazine.
Bitcoin News (press release) |
As Bitcoin Reaches New Price Highs, Network Congestion and Fees Spike
Bitcoin News (press release) Bitcoin markets have been on a tear lately, and the price has spiked quite a bit last month and into November. However, as bitcoin’s value surpassed $7K per BTC, transaction bottleneck and miner fees have risen again, causing users to complain about … |
Bitcoin News (press release) | As Bitcoin Reaches New Price Highs, Network Congestion and Fees Spike Bitcoin News (press release) Bitcoin markets have been on a tear lately, and the price has spiked quite a bit last month and into November. However, as bitcoin's value surpassed $7K per BTC, transaction bottleneck and miner fees have risen again, causing users to complain about ... |
Whether you’re starting your own business or launching a new event, there are always things to be done. Creating to-do or task lists are essential in making sure that everything is ready and completed. The other important factor is making sure that you have the right people doing the right jobs. However, in today’s fast-paced … Continue reading Latium Offers a New Frontier in Task Management
The post Latium Offers a New Frontier in Task Management appeared first on NEWSBTC.
Whether you’re starting your own business or launching a new event, there are always things to be done. Creating to-do or task lists are essential in making sure that everything is ready and completed. The other important factor is making sure that you have the right people doing the right jobs. However, in today’s fast-paced world, finding the right people can be tricky, and time-consuming. That’s where Latium comes in.
The platform describes itself as being “the first and only tasking platform to incorporate a totally automated rating system in tandem with a one-to-many task relationship structure”. What this essentially means is that platform users can create their task on the site, and also hire the required amount of people, be it one or 1000.
Each potential hire would have previously been issued with a number between 0 and 1000. Any reviews for these users would be based on their work experience on the site. Because it’s a number and not a name, it offers objectivity. Potential employers will then be able to quickly decide whether or not that user is the right person for the job. In addition, the platform offers a trustless environment to increase this level of transparency. In this way, everyone will be able to see who they’re working with.
Latium offers users the creation of, and participation in, both digital and in-person tasks. In the case of the former, posting just one task on Latium could drastically increase your online traffic to whatever page you require by hundreds and even thousands, depending on your budget. For in-person tasks, the platform makes use of a range of easy-to-do processes including scanning QR codes and using GPS.
The platform will use their LatiumX (LATX) ERC20 tokens on their site and employers will make use of these creating, and paying for, new tasks on the site. The whitelist phase of the platform’s token sale will start on the 15th of November, while the public sale is scheduled for the 28th of November. During the general sale, 1 ETH will be able to purchase 2000 LATX. A total of 180 million tokens will be available to purchase.
Latium aims to easily allow for the integration of cryptocurrency, and its financial benefits, into people’s everyday lives. One of the platform’s advisors, John McAfee, who is the founder of the first commercial anti-virus security software, agrees with this vision.
“I’ve been in tech my entire career and I believe the Latium platform and LATX token are among the most innovative crypto-products I’ve seen so far,” said McAfee. “Latium joins the gig economy with the crypto economy, providing income seekers easy access to the world of cryptocurrencies and new income streams.”
More information about the platform and its benefits can be found at – https://latium.org/
The post Latium Offers a New Frontier in Task Management appeared first on NEWSBTC.
At this moment in time, the mobile app market represents a huge industry which is actively developing, with new apps of all kinds appearing on a daily basis. However, access to apps is often provided through mobile app stores controlled by big companies which take a big share from the sales, due to the centralized architecture of these stores. Discosure: This is a Sponsored Article App developers to regain their freedom To help change this and grant Android app developers their freedom and the ability to keep their entire profit margin, the DAO PlayMarket 2.0 will be released. The main
At this moment in time, the mobile app market represents a huge industry which is actively developing, with new apps of all kinds appearing on a daily basis. However, access to apps is often provided through mobile app stores controlled by big companies which take a big share from the sales, due to the centralized architecture of these stores.
Discosure: This is a Sponsored Article
To help change this and grant Android app developers their freedom and the ability to keep their entire profit margin, the DAO PlayMarket 2.0 will be released.
The main goal of the store is to create a decentralized, and sustainable model meant for app developers, users and investors, while also introducing a new, unified standard for tokenizing mobile applications.
Some of the main advantages associated with the DAO PlayMarket 2.0 include, but are not limited to: allowing android app developers to issue their very own tokens, and hence implement them via the built-in ICO platform; making the platform resistant to censorship, while also storing information on the blockchain thus allowing access from anywhere in the world; integrating a decentralized cryptocurrency exchange platform with an open API; having the ability to pay for apps and in-app purchases via digital currencies.
By launching the tokenization system for the mobile app market, the PlayMarket 2.0 project will help developers raise funds for their new application ideas by issuing tokens and selling them through Initial Coin Offerings. This way, those who contribute can take advantage of cheaper app-services, be paid dividends for their contributions and more. Not only this, but the platform architecture will also assume a lock-resistant access to applications of all kinds.
To help kick-start the project, the team behind PlayMarket 2.0 is also launching their very own ICO. 75% of the 3 million PMT tokens will be distributed through the ICO, and the raised capital will be invested into the marketing program, meant to promote the platform. Purchasing tokens in the ICO will allow investors to become co-owners of the DAO PlayMarket Foundation.
While a lot has been achieved so far, the following months will bring onwards a couple of more developments, such as the issuing and distribution of the PMT tokens in November 2017, website upgrades, the release of the android app store, start of DAO voting in June 2018 and more.
With over 500 apps to be available at launch, those who wish to learn more about the DAO PlayMarket 2.0 project can head out to the website, read the whitepaper, and join the Telegram group.