Day: November 24, 2017

A lot of discussions in the Bitcoin world are political in nature these days. There is a very big group of people who support Bitcoin Core no matter what. Others favor Bitcoin Cash simply because it is as anti-Core as it gets. The rest just wants a better Bitcoin but has to deal with this fractured community. CobraBitcoin made some interesting comments regarding the “fanboy” attitude surrounding Bitcoin Core.

It is evident a lot of people support the Core developers. That is only normal, as they have done a pretty decent job improving Bitcoin over time. Not all of their decisions have been well-received, but that is only to be expected. One could argue it is the Bitcoin Core developers who inadvertently forced people to fork off through Bitcoin Cash. The opinions on this matter will always remain divided as well. However, one also has to admit there is a lot of negative bias toward the Core devs as of late.

Bitcoin Core is not Always Right or Wrong

Whether or not Core is the best for Bitcoin, is a completely different discussion. However, the number of FUD spread in accordance to Bitcoin Core has grown enormously. We see very odd posts on social media virtually every day for a few months now. The correlation between Core and Blockstream is doing more damage than good right now, at least from a PR perspective. It is doubtful this situation will be resolved anytime soon either. After all, political shenanigans are the “news channel” of Bitcoin, so to speak.

Many people are worshippers of Core and spread FUD and lies at anything that could possibly undermine Core in any way. They don't support Bitcoin. They support Bitcoin Core.

— Cøbra (@CobraBitcoin) November 23, 2017

CobraBitcoin touched upon this concept in the tweet above. The fanboyism affecting Bitcoin Core has certainly been taken to a whole new level. For every semi-negative mention of Core, diehard supporters will come up with even more FUD and bias. It has created a very toxic environment that will eventually hinder the growth of Bitcoin as we know it. Instead of coming together, the communities are pushing each other away even further. While a demise of Bitcoin – or Bitcoin Cash – may not happen soon, things direly need to improve.

One thing we can all agree on is how Bitcoin is no longer a trustless network whatsoever. A lot of people associated with Bitcoin are all pushing their own agendas. This includes Bitcoin Core developers, the people supporting them, and the ones opposing them as well. This situation cannot be sustained for much longer, that much is rather evident. Bitcoin Core is not necessarily the best course of action for BTC as a whole. However, there have been a lot of decent decisions they deserve credit for as well. An open dialogue should always take precedence over hard forks and FUD. Sadly, that hasn’t been the case for several years now.

The post CobraBitcoin Rants About People not Supporting BTC but Just the Bitcoin Core Developers appeared first on NEWSBTC.

Bermuda has launched a new working group aimed to advance the regulatory and commercial environment for token sales, cryptocurrencies and more.

Purchasing tokens should be exciting – give the users what they want!

Adoption continues to grow, as son of famous corporate takeover expert discloses cryptocurrency holdings.

According to Information Technology Industry Council Senior Vice President of Public Sector, Trey Hodgkins, the US Congress wants the various agencies to have their own discretion on how to invest their savings.

The chairman of Swiss National Bank said yesterday that he sees bitcoin more as an investment than a currency.

Keep the HypeUp! CryptoFriends to host the next exclusive HypeUp event in Singapore

There are certain issues that are presently hindering the classification of diamonds as an asset, notwithstanding the various calls for diamonds as part of a favorable alternative investment. When compared with other commodities like gold, it is quite hard to realize a uniform price for diamonds because they are not fungible. What this means is that a particular carat of diamond isn’t equivalent to another carat because of the innumerable combination of characteristics of the diamond.

Additionally, the diamond market lacks liquidity. As much as a person can purchase a diamond, it becomes a challenge in reselling it at a reasonable market price. Because the exchanges of diamond are done on a business-to-business basis, this makes them irrelevant for investors coupled with the unavailability of a platform for reselling them.

To ensure that these gaps are bridged, CEDEX has come to the rescue through a tokenization process that will transform diamonds into a fungible asset with well-defined values. This platform by CEDEX is set to revolutionize the diamond market by providing transparency to make diamond a viable asset.

What is the Technology behind CEDEX?

A machine-learning algorithm known as DEX, is specifically designed to bring coherency and transparency to the diamond financial market. The machine comprises of three key components

• A global inventory analysis
• Diamond market financial indices
• Gemological composition of individually listed diamonds on CEDEX

The DEX is designed in a way that it would incorporate artificial neural network technology, making use of all available diamond data. The interesting thing about all this is that it open and transparent for investing or trading diamonds over the platform. The beta version of the DEX is currently being developed, which will provide a theoretical price for each diamond and rate it through its relative market value instantly.

There are basically three obstacles preventing diamonds from being considered as an asset class and these include:

• Lack of Transparency: There is no data available online to ascertain the real value of diamond in the market.
• Standardization: This is the ability to trade one diamond against another as each diamond is unique. This brings the question as to how do we create a homogenous product?
• The lack of Liquidity: This is a situation where buying is not a problem, but reselling is.

So, what is the solution to these obstacles?

In dealing with these obstacles, CEDEX considers two major technologies. The first is the blockchain technology while the second is the DEX Technology. The DEX Technology as already noted considers three major categories

• The Gem composition or the Gemological composition of the stone
• Parallel traits – these are traits done in the market
• Market indices – These are market trends, which are compiled together, and the outcome produces a market value.

It is important to note that this is the first time in history that there will be an objective real-time machine with the capability of generating a complete transparent market and provide diamond holders and investors the opportunity of holding a real market value.

Through the DEX technology, the two major obstacles are solved, which is the transparency and standardization issues.

How does DEX provide transparency and standardization?

For instance, two different people are trying to trade a one-carat diamond and both parties are asking for $100. Can you determine, which one is a better deal considering the fact that the gem composite of the diamond cannot be evaluated?

Because of this, the real value of the one-carat diamond cannot be determined. DEX takes each diamond, analyses it and based on the algorithm of the machine, it can provide a benchmark rating. The DEX will now assign the value of the diamond in line with the current market price. The DEX rates the asking price of the diamond over the market price.

In the area of liquidity, the DEX uses a two-sided approach by enhancing both the supply and demand aspects. The supply aspect comprises of the diamond dealers and the private diamond holders while the demand aspect has the general investors and the cryptocurrency investors. You can use CEDEX coin to buy a diamond. This new opportunity enables cryptocurrency investors to realize their profits as a real asset.

How does the CEDEX Platform Work?

You can watch the full video of the uniqueness of the CEDEX platform here. CEDEX uses a simple process, which begins with you going to their website. You upload the Gemological Institute of America (GIA) certificate and the system retrieves all the data. With this data, you can select the tokenization option available for the diamond to be sold.  This option includes a single diamond, shared investment or diamond Basket (ETF). You can sell to a particular investor or in the area of shared investment, you have the option of selling your diamond to more than two people. In this case, the system will create a partial contract of the number of people involved with partial ownership of the diamond.

After selecting the tokenization option, the next option is deciding how you want the diamond distributed. You can decide to use the peer-to-peer method or the CEDEX exchange. The peer-to-peer method affords you the opportunity of putting the diamond in your wallet and selling it directly.

For the CEDEX exchange, the Custodian verifies the diamond matching it with the GIA certificate uploaded. If the diamond matches the GIA certificate, the Custodian takes the diamond and stores it. The system automatically uploads the smart contract. This contract is a representation of the diamond kept in the safe by the Custodian.

The diamond stays in the safe as long as transactions are being carried on. The diamond ceases to be in the safe the moment the investor(s) decides to hit the “deliver” button. After this, the diamond is delivered to your home or office and the token removed from the system.

CEDEX gives you the opportunity of investing in diamond without being an expert. The token presale is set to take place on Friday, January 12, 2018, at 1900 GMT. To participate, register on the CEDEX token pre-sale website.

About CEDEX

CEDEX is a global exchange with the aim of closing the gap between the innovative financial markets and the traditional diamond industry. It aims at providing a groundbreaking change that will enable people to liquidate and invest in diamonds like other financial assets through a secure and transparent process.

The platform will give people the access to invest in diamonds, shares in a basket of diamonds (ETF), or shares of a high-value stone. Sellers, buyers, and investors will have full confidence because of the transparency in the value of diamond — facilitated by DEX, a blockchain technology and machine-learning algorithm that will provide the rates of a diamond asking price. It is the goal of CEDEX to create an exceptional benchmark value, contract, and rate for every stone. The CEDEX token pre-sale is set to take place on Friday, January 12, 2018, at 1900 GMT

The post Transforming Diamond into a Real Asset Through CEDEX Platform appeared first on NEWSBTC.

The fund, which is a subsidiary of Blackmoon Financial, is intended to establish and maintain the best framework for tokenized funds around the world.

SMSCHAIN is the first blockchain-based SMS Gateway solution that provides a reliable global SMS delivery network, enabling mobile subscribers and SMS Aggregators to act as Miners, making useful work by delivering messages and mining Short-Message-Tokens (SMSTO) as a reward.  

This week an agreement has been settled with a strategic investor who will invest 5M USD in the project SMSCHAIN.

As result of this, the company’s CEO Andrey Insarov decided to call off the ICO, which was supposed to take place November 20th, 2017. Thanks to this agreement, the team has raised the sufficient funds to proceed with the development and implementations of the project according to the original Roadmap.

All individual investments collected so far as of today will be returned back to the wallets they originally proceeded. The funds will be returned to all wallets between 20th and 23rd November 2017.

Tokens of the SMS project will be once again available for purchase once the project is developed and launched.

Bounty campaign tokens and those won during the Telegram channel lottery will be fully paid until December 20, 2017.

About SMSCHAIN

SMSCHAIN is an IT/telecom company building an innovative infrastructure providing P2B (person-to-business) services. The team behind the project has over 10 years of extensive experience in telecommunications and a proven track record of launching and running successful businesses. Their previous project, Money SMS App, has near 100 000 downloads on Google Play Market. Andrey Insarov, CEO of SMSCHAIN, also leads Intis Telecom, EU-based telecommunication company with offices in the UK and in Lithuania, and more than 500 companies as clients around the world. Oleg Makarov, COO of SMSCHAIN, is a CEO of TelQ, an international Bulk SMS Gateway, SMS marketing platform and SMS Test Number services provider, serving 2 of 3 market leaders.

Oleg Seydak, CEO of Blackmoon Financial Group, is an advisor for SMSCHAIN. His project Blackmoon Crypto recently raised $30M in less than 20 hours during its ICO in September 2017.

The post SMSCHAIN announces its decision to call off ICO which has been planned for November, 20 2017 appeared first on NEWSBTC.

The plan is similar to the initiative launched by the Massachusetts Institute of Technology (MIT) in October 2017, in which it issued digital diplomas to more than 100 graduates.

While IOTA sells, NEO bulls are finding support at $34 and pushing prices higher. DASH and Monero have a positive correlation and both are cooling off after both pairs printed record highs against the green back.

Bear momentum has since kicked off in both pairs but until a buy signal is printed with confirming bullish candlestick then buyers should begin loading their long positions.

Let’s look at the charts:

CLOSE ABOVE THE 20 PERIOD MA TO CONFIRM NEO BULL RESURGENCE

After November 17 resistance break out and close above the then resistance line at $34, NEO prices have proceeded to test $45 before the main resistance trend line-previous support capped further bulls run.

Now, $34 is acting as our support and this is in line with bullish break out trade strategies. As we can see, the past 48 price action is clearly bouncing off support thereby confirming $34 as a bull spring board and completing a break out retest. Any break above the 20 period MA means we go long.

DASH PRICES ARE FIRM EVEN THOUGH STOCHASTICS ARE BEARISH

The calmness that follows a storm is best exemplified by DASH price action in the past day.

Since the explosion which saw DASH gain and loss $330 within 8 hours on November 20 and 21, DASH has been generally bullish with small candlesticks.

However, in the last 24 hours, DASH trade range has been tight and moving within $50. That oscillation is between $550 minor support and highs of $600 printed on November 22.

The support line to take notice of is at $540 and should there be a strong close below $550 then there are chances that November 12 highs and now support will be breached.

We now take a wait and see approach now that there is a stochastic sell signal.

IOTA CRUMBLING AND DROPPING FROM $0.90 RESISTANCE LINE

As per our recommendation, USD bulls were pumping up sellers following that bearish divergence and IOTA price action failure to strongly close above $0.90.

Because of this apparent reduction of IOTA bull pressure, sellers are in charge. Check out that strong bearish candlestick closing below $0.90 resistance line and the 20 period MA.

It all shows the strength of USD bulls. Therefore to stay in trend, USD bulls should start selling and aim at immediate support of $0.73.

PRICE ACTION TEPID AFTER MONERO PRINTS RECORD HIGHS ON NOVEMBER 22

Monero and DASH have a positive correlation and we can easily note that from their respective price action characteristics.

The weekly trend is definitely bullish after that humongous rally last week and the complementing bull move this week which pushed Monero to new highs. It looks like momentum is fading though.

Already there is a stochastic sell signal in place following those double bar reversal candlesticks on November 23. Any appreciation without momentum is all hot air.  As long as $173 stands, USD bulls should fade the market but with extreme caution since we are in a bullish trend.

Otherwise, conservatives should wait until a stochastic buy signal shows before entering long positions.

CLOSE ABOVE MINOR WEDGE AND $0.208 DEFINITIVE FOR NEM BULLS

After yesterday’s close below the 20 period MA, NEM price action has been trending within a wedge.

Notice those lower highs and higher lows over the past 12 hours. Besides that, the 20 period MA has been successful in capping NEM appreciation below $0.208.

All in all, as mentioned, price action is within a $0.04 range. For bull momentum to continue, they must break and close this minor wedge.

There is a stochastics buy signal meaning some bull pressure is building up. As a result, chances of a bull break out from the minor resistance trend line are high.

All charts courtesy of Trading View

The post IOTA SELLS NOVEMBER 24 TECHNICAL ANALYSIS appeared first on NEWSBTC.

Key Points

• Bitcoin gold price is moving higher and is currently placed well above the $280 support against the US Dollar.
• This is a major bullish trend line forming with support near $280 on the hourly chart of BTG/USD (data feed from Bitfinex).
• The price is likely to move further higher and trade towards the $350 level in the near term.

Bitcoin gold price is gaining pace above $280 against the US Dollar. BTG/USD might soon trade towards $350 or it could even break it.

Bitcoin Gold Price Support

There was a solid upside move in bitcoin gold price as it moved above the $250 resistance against the US Dollar. The price was also able to move above the $280 resistance, which opened the doors for more gains. It recently traded above $300 and formed a high at $319.32. Later, it started a downside correction and moved below the 23.6% Fib retracement level of the last wave from the $218 low to $319 high.

However, the downside move was prevented by a major bullish trend line with current support near $280 on the hourly chart of BTG/USD. Moreover, the 38.2% Fib retracement level of the last wave from the $218 low to $319 high also acted as a support. The pair is now moving back higher and looks set to break the $319 high. Above the mentioned $319, the price might target the $350 level.

The overall trend is positive for bitcoin gold and the price is likely to trade above $319 in the near term. On the downside, the $280 level is a major support and buy zone. Below $280, the $250 level is the next support.

Looking at the technical indicators:

Hourly MACD – The MACD for BTG/USD is currently in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is currently moving higher towards the 70 level.

Major Support Level – $280

Major Resistance Level – $320

Charts courtesy – Trading View, Bitfinex

The post Bitcoin Gold Price Technical Analysis – BTG/USD Poised to Break $350 appeared first on NEWSBTC.