Day: December 11, 2017

Having landed on Wall Street with a bang, bitcoin is solidly bid and looks set to scale new heights.

Although most people would not expect it, the Bitcoin Gold price is rising out of the blue. Thanks to the strong Bitcoin momentum, all of the top currencies have appreciated in value over the past few hours. Right now, the Bitcoin Gold price sits at $254.79 again, which represents a 15.05% increase over the past 24 hours. An interesting trend to keep an eye on, that much is evident.

Bitcoin Gold Price Surges a bit

In the world of cryptocurrencies, it is not hard to come across some surprising developments. Especially when it comes to the Bitcoin Gold price, things are evolving in an unexpected direction. After the initial hype surrounding this altcoin quieted down a bit, the value of BTC has declined steadily. However, the past few days have mounted a small surge, although we are still a very long way away from seeing a new all-time high Bitcoin Gold price.

Over the past seven days, the Bitcoin Gold price has dropped from $326 all the way down to $199.6.  Considering how this altcoin is another Bitcoin hard fork, it is not entirely surprising to see it garner far less success compared to Bitcoin Cash. At the same time, very few people have claimed their BTG balance, as we pointed out a few days ago. Despite all of the hurdles, it seems this altcoin is not giving up just yet. Whether or not it will ever have real value, remains to be determined, though.

Right now, the Bitcoin Gold price is moving up, but so are the values of all other cryptocurrencies. Everyone is piggybacking on Bitcoin’s price rise since the futures launched last night. Whether or not the Bitcoin Gold price can sustain this momentum, remains to be seen, though. After all, it is still an altcoin with no real unique factors or use cases we can’t access through more established cryptocurrencies.

Bitcoin Gold has a total trading volume of $251m over the past 24 hours. That is a more than solid amount, as a fair few top 10 cryptocurrencies don’t even come close to those numbers right now. It almost seems as if everyone is holding their breath to see what the future will hold. Any sign of Bitcoin price weakness will trigger a massive sell-off in the altcoin market again. This will also impact the Bitcoin Gold price, assuming such a dip would occur in the first place.

Unsurprisingly, Bithumb is the go-to place for Bitcoin Gold trading right now.This platform controls nearly 60% of all trades, which can become a very big problem. Then again., it hasn’t hurt any of the other altcoins which see a lot of volume from that exchange either. Bittrex is in second place and Bitfinex completes the top three. It’s interesting to see two fiat currency pairs in the top three, as it indicates fresh capital is entering the cryptocurrency world as we speak.

It remains unclear what the future holds for the Bitcoin Gold price. For an altcoin with no real unique features or appealing use cases, it is doubtful big price changes need to be expected in the future. Stranger things have happened in the world of cryptocurrency, though, and we may see some major shakeups in the next six to twelve months. For now, there seems to be some interest in this altcoin, which is a positive start. How all of this will play out, is anybody’s guess at this point.

At a time when the world is filled with fake news, where news producers get nothing out of their hard work, and platforms distort the truth just to get attention. PressCoin offers the much-needed solution to the industry at a crucial time, addressing the need of the hour.

What is PressCoin?

PressCoin is a cryptocurrency platform that seeks to revolutionize the way the world creates, advertises, designs, and finances news. With a system of protocols, PressCoin’s cryptocurrency infrastructure offers a new way for individuals and creators to fast-track the creation and movement of information and uses a network of media institutions to provide capabilities, tools, and functions that democratize the creation and dissemination of information.

The technologies underlining PressCoin

PressCoin provides a cloud-based, big-data platform, APIs, as well as a robust content management system where information is created and disseminated using multiple channels and platforms. Value and innovation in media are also enhanced through blocks in the blockchain space to enable easy integration with third-party platforms.

End users of PressCoin also provide with an excellent space with wallets, payment systems, and APIs, and backed by CointypeX, a Swiss-backed cryptocurrency via fiat trading space, users are guaranteed the best of technological experience.

PressCoin, in order to ensure state-of-the-art collaboration among creators, has built a number of technological tools: NextElection, where journalists, politicians, and citizens collaboration; ChickenSoupNews, a platform where journalists find solutions; InsurgeIntelligence, a playing field for investigative journalists; Zolori, where local businesses, news, and events are broadcasted, as well as many other technology platforms.

Advantages of PressCoin

PressCoin offers a lot of advantages to its users, including:

• A shared Television space

Through multiple platforms, PressCoin.TV offers a space for creators to produce top-notch, curated, and multi-channel content for consumers – all made possible through a decentralized blockchain system.

• Collaboration at its best

The very tenet of PressCoin, which has to do with seamless collaboration offers a playing ground for curators, creators, investigators, and influencers to meet and work on pertinent issues in the media industry and curb fake news.

• A new regenerative platform

With PressCoin, the old media and its ways of encouraging fake news are a thing of the past.

The Team

Led by Dr. Nafeez Ahmed, an industry-recognized investigative journalist with over 16 years of experience, Gunther Sonnenfeld, a renowned global entrepreneur, and Amit Rathor, investor and serial entrepreneur, PressCoin completely democratizes news creation and dissemination and eliminates the era of fake news.

More information about the platform is available at – https://www.presscoin.com/

The post PressCoin – the Cryptocurrency to Eliminate Fake News Forever appeared first on NEWSBTC.

Swiss banking giant UBS and a group of major banks plan to launch a live application later this month using the ethereum blockchain.

All Bitcoin service providers struggle with the world’s leading cryptocurrency right now. More specifically, network congestion and high fees make Bitcoin virtually unusable. Coins.ph plans to address is this issue with a  two-pronged approach. First of all, they will [finally] enable SegWit-based transactions. Secondly, they may integrate Bitcoin Cash very soon. Both options are equally viable in this regard, yet it remains to be seen which option will win out.

It is evident any company dealing with Bitcoin needs to rethink its strategy. The high network fees make it an unfavorable cryptocurrency to use. There are multiple ways to address these problems, although only a few viable options remain. First of all, focusing on implementing SegWit would be a good start. Coins.ph wants to give this option a try in the near future. Right now, they are dealing with too many overhead costs to keep the service running in its current form.

Coins.ph Continues to Grow and Evolve

Another option contemplated by the company is supporting Bitcoin Cash. That in itself is a rather surprising decision, but it also makes a lot of sense. Unlike BTC, BCH has lower fees and a more reliable network. It forces companies to closely ponder how they want to evolve their business. Until Bitcoin’s scaling issues are sorted, we will see more of these stores, unfortunately. Customers of the company have been complaining about the high fees and network delays for some time now.

For the time being, the Bitcoin mempool is clearing out pretty quickly. More specifically, the number of unconfirmed transactions is dropping. It was over 220,000 late last week. Right now, we are back in the five-digit range. Although there is still plenty of work to be done, the situation is slowly improving. Whether or not the high fees will subside, remains to be seen, though. For now, it is still a pretty problematic scenario.

Additionally, Coins.ph had some good news to report as well. More specifically, the company obtained a license as an electronic money issuer. This means the company can legally accept and hold customer funds in The Philippines. A very interesting development to keep an eye on moving forward. This is still a very prominent region for future Bitcoin and cryptocurrency adoption. With this license in the pocket, the company continues to adhere to existing regulations.

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So that’s another weekend gone and all of a sudden a fresh week of trading is underway in the bitcoin price. It’s been a pretty wild ride over the last few weeks and especially as relates to the last five or six days, with price soaring to fresh all-time highs before correcting pretty substantially towards current levels in and around the $15,000 mark.

Nobody can really say with any certainty what’s going to happen from here but, if our strategy is to be trusted, it doesn’t really matter all that much. So long as price eventually resumes its longer-term overarching upside momentum then we can pretty happily trade any intraday volatility with our breakout strategy and hedge against any downside runs on the longer-term charts.

So, with that said, let’s get some levels in place that we can use to draw a profit from the market today. As ever, take a quick look at the chart below before we get started so as to pick up an idea where things stand and where we are looking to jump in and out of the markets according to the rules of our strategy.

As the chart shows, the range we are looking at for the session today comes in as defined by support to the downside at 16400 and resistance to the upside at 16569. We are going to stick with our standard breakout approach for the time being, so if we see price break above resistance, we will enter longer towards an immediate upside target of 16620. A stop loss on the position somewhere in the region of 16540 will ensure we are taken out of the trade in the event that things turn against us.

Looking the other way, if we see price close below support, we will enter short towards a downside target of 16320.

Let’s see what happens.

Charts courtesy of Trading View

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Parity Technologies has just released a proposal for reclaiming the millions in ether frozen last month due to a fault in its code.

Twitter reacts to CBOE crash at launch of Bitcoin futures.

Despite CryptoKitties, Ethereum’s first mainstream use-case, and the recent spotlight of Bitcoin’s price hike, ETC stealthily booms as a low-profile dark horse. As the hard fork took place on 20th July 2017, the currency policies of ETH and ETC that share the twin code went separate ways. Without a limit, the supply of ETH would continue to grow while the total supply of ETC was stated not to exceed 230 million, a policy that followed the tradition of Austrian economic theory and took a page out of bitcoin’s playbook.

Less Tokens, Price U-turns

The release of the reduction policy was good news for ETC market which led a token price soar. After the fork, the price of ETC hit a new high of $34, up from the range between $9 and $12. Boosted by this news, ETC price turned out to be bullish within a short time, which was a breakthrough compared with the original issue price and also marked a price return. Within this same time frame, the price of ETH only rallied by 60%.

ETC Supply Reduction Plan

ETC Global Summit took place in Hong Kong on the 13th November, resulted a reaffirmation of the ETC Digital Asset Currency Policy and Economic Model. Subject to ECIP-1017, ETC production would be reduced by 20%. A percentage of output cut per 5 million blocks would remain regular to make ETC reduction normal until total token supply hit between 210 and 220 million. Given this supply control, ETC inflation would be effectively checked.

Less Supply, Pricier ETC

So far, more ETH are issued while less ETC can be expected in the market. As ancient Chinese said , “Less is dearer”, the total supply of digital asset will lead to the increase in value. As the ETC demand and usage increases, so does the price and appeal. For this, Bitcoin can be seen as the best example. ETH defeated ETC in price war with a preceding advantage. In the long run, ETH’s excess supply from its unlimited supply policy will eventually cool down the investment fever, and will be edged out by ETH’s preemptive strength, as the market slowly recognises ETC’s true value. Price wise, Barry Silbert, a digital currency mogul, once posted a tweet, implying that ETC would be pricier than ETH with signs showing that the trend is merely a matter of time.

A Safer ETC Network

ETC network is safer than ETH’s as ETC miners use POW rather than POS. Consensus is the core of blockchain. The proof-of-work-based blockchain has been proven in the market as having the best mechanism that supports 8 of the top 10 cryptographic coins by market cap. POW allows mining at miners’ discretion whilst POS leaves late miners finding nowhere to proceed. The POW-based ETC will attract more miners, make nodes connected to any dynamic networks fruitful, and the network safer.

ETC Booms with IOT

Currently, the application of ETC can be seen in IOT and fueling IOT’s demand. Where ETC gets more data flows from IOT devices, its value will continue to rise. As Grayscale, a sponsor of ETC Investment Trust, stated in the paper released this August, “We believe that one day ETC will become the foundation of the globalized, secure and decentralized IOT.” By 2025, if ETC can obtain 10% data flows from IOT devices, each token will be priced at approximately $150.” Besides, unlike the new favorite IOTA, ETC has unmatched universal value and provides more powerful support to IOT apps. Regarding price, there are price bubble and bugs of the highly centralized IOTA. ETC, the well-established, decentralized digital currency, will undoubtedly beat IOTA in market cap and ETC’s price will be in the positive territory where the quote of this token will be dozens of times the previous high.

The post Looming Supply Reduction Leads to A New Investment Boom in ETC appeared first on NEWSBTC.

This weekend has seen some pretty wild price swings, especially from big daddy Bitcoin which fell by 26% from Friday’s high of $18,300. As excitement and interest mounted leading up to the launch of CBOE’s futures contracts on Sunday BTC bounced from support at $13,000 yesterday morning to climb back up to around $16,500 where it is trading at the time of writing.

When Bitcoin starts going vertical altcoins usually suffer however there is one coin that has rode out the waves and stayed on top, keeping its recent gains of over 50% in a week and maintaining support levels. Litecoin saw an epic jump from around $100 to over $150 on Friday and into trading on Saturday.  Usually when this happens there is a market correction and support is broken sending the price back down to normal levels.

Litecoin did fall back to $130 on December 10 but has since risen back to its all-time high of $160 where it is currently trading. With all the attention on Bitcoin, its slower transaction speeds and higher fees are emphasized, and Litecoin looks like a better alternative. This is highlighted even further by its price and the fact that it has been extremely stable over the past six months or so when all other altcoins have been swinging all over the charts.

Litecoin is currently the sixth largest crypto currency by market capacity, which at the time of writing is $8.3 billion. Just above it in fifth place is Ripple which has shown very little movement in either direction for the past six months where it has traded between $0.16 and $0.26. XRP has a market capacity of $9.4 billion according to Coinmarketcap.com, total supply is almost 100 billion with around 38.7 billion already in circulation.

Below Litecoin in seventh place on the market cap table is Dash which is at $5.6 billion. Dash, with a maximum supply of 18.9 million and 7.7 million already circulating has traded in a sideways channel for the past week between $660 and $780.

Comparing these to Litecoin’s total supply of 84 million with a circulating supply of 54.2 million it is beginning to look like a far better bet at a far better price. With recent rises in price and interest for what is often called the silver to Bitcoin’s gold, this one could go a lot further and we could be seeing Charlie Lee’s Litecoin reach $200 before the end of the week.

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Now that all cryptocurrencies are recovering in value once again, it will be very interesting to see how things shape up in a few weeks from today. The Litecoin price continues its bullish trend is on the verge of setting a new all-time high. If this trend keeps up, that new ATH should be reached in a few hours from now. The future’s looking bright for all cryptocurrencies once again.

Litecoin Price Surge is far From Over

As we had expected yesterday, the upward Litecoin price trend is still in full effect nearly 24 hours later. With the price rising from $136 all the way to $165 in the past 24 hours, things look incredibly positive. It seems to be only a matter of time until Litecoin [finally] hits that $10bn market cap. Right now, all LTC in circulation has a combined worth of $8.946bn, which is still a  very strong increase compared to earlier this year.

Granted, all major cryptocurrencies have seen a massive price increase throughout 2017. It is only normal to see the Litecoin price go up in value accordingly, as it was long overdue. However, very few people expected to see a Litecoin price of $100 before the year was over, let alone this bullish momentum slowly pushing the value to $200. Anything is possible in the world of cryptocurrencies right now and this will not be the final surge of a top altcoin by any means.

With this solid Litecoin price momentum in place right now, the push toward $200 continues unabated. Right now, the current Litecoin price all-time high sits at $171.55, a value that may very well be surpassed later today. There is an abundance of demand for all cryptocurrencies which are making or will make a big impact in 2018. Litecoin is certainly on that list, and its current value seems to reflect that sentiment rather well. For all intents and purposes, it seems 2018 will be another great year for LTC.

With over $1.13bn in 24-hour trading volume, the demand for Litecoin has not diminished in the slightest. Cryptocurrency users are all too aware of the problems found in Bitcoin, including slow transactions and exuberant transaction fees. Litecoin has none of these problems, and the miners activated Segregated Witness on the network well before Bitcoin did as well. Moreover, Litecoin is supported by virtually all big cryptocurrency exchanges, which makes it a perfect cheap solution to move money between different platforms.  

GDAX is still the leading exchange ranked by Litecoin trading volume over the past 24 hours. Their LTC/USD trading pair generated over $218.5m worth of volume, which is well ahead of Bitfinex’s LTC/USD pair. OKEx is still in third place, although their trading market is denominated in Bitcoin rather than fiat currency. Bithumb may overtake them in terms of volume pretty quickly, though, as the gap is only $4m at the time of writing.

For the time being, things are looking pretty solid for the Litecoin price. A lot of this momentum stems from the Bitcoin price rising in value as well, though. Should that trend reverse, it is not unlikely the Litecoin price will be affected in a significant manner as well. For now, the path toward a new all-time high Litecoin price remains wide open, yet no one knows what the future will bring in this regard.

South Korea’s NongHyup Bank has joined the R3 distributed ledger consortium, saying it will launch a pilot blockchain project.