Day: January 3, 2018

Egypt’s highest official of religious law has determined that Bitcoin violates Islamic law because it’s not a currency and is supposedly used to finance terrorism. #NEWS

Bitcoin Price Key Highlights

• Bitcoin price has recently broken above the top of its descending triangle pattern on the 4-hour time frame.
• Price has also completed a quick pullback to the broken triangle resistance and is starting to break past the latest highs.
• A bit of a bullish flag can be seen and this is considered a continuation signal.

Bitcoin price has broken to the upside of its descending triangle pattern to indicate that further gains are in the cards.

Technical Indicators Signals

The 100 SMA is still below the longer-term 200 SMA, so the path of least resistance is to the downside. This means that the selloff is more likely to resume than to reverse.

However, the moving averages are still reflecting oscillating conditions and an upward crossover seems to be brewing. This could draw more bulls to the mix and sustain the upside break.

Stochastic is also pointing up to confirm that buyers are in control of price action. RSI, on the other hand, appears to be turning lower to indicate the presence of bearish pressure.

Market Factors

The US dollar seems to be putting up a good fight against bitcoin price as the FOMC minutes confirmed the likelihood of gradual rate hikes down the line. At the same time, the latest economic data from the US turned out stronger than expected.

The ISM manufacturing PMI posted a higher than expected gain and a pickup in the prices component, easing weak inflation fears somewhat. However, the jobs component declined, so there could be a chance of a downside surprise in the NFP.

The ADP non-farm employment change figure is due next and a weak read could reinforce downbeat NFP expectations and douse hopes that strong hiring could prop up inflation.

As for bitcoin price itself, the cryptocurrency is drawing support from the large bet placed by the Founders Fund, which is a venture capital firm co-founded by Peter Thiel. Increased regulation from South Korea, however, is still keeping a lid on activity.

The post Bitcoin Price Technical Analysis for 01/04/2018 – Upside Triangle Break appeared first on NewsBTC.

An initial coin offering (ICO) or token generation events could potentially disrupt the investment ecosystem as we know it. Blockchain technology is changing conventional fundraising campaigns with a new business model that’s secure, transparent and accessible. The process involves raising capital by issuing tradable tokens.

Crypto tokens are not cryptocurrencies because their value is determined by the uniqueness of the ICO and not by market fluctuations like in the case of Bitcoin. ICOs use two main types of tokens when launching their campaigns – equity tokens and utility tokens. The latter type are also known as app coins. These coins provide investors with future access to the ICO’s product or service.

There’s another use for them, and if the business is successful, the investor can trade the coins on major cryptocurrency exchanges and get different coins in return (e.g. BTC, ETH) or cash. The core benefit for an ICO, irrespective of niche or domain, is that it can raise capital to continue the development of a Blockchain-based project.

The golden ticket to wealth- investing in the right ICO

ICO has been the buzzword dominating the investment and entrepreneurship markets throughout 2017. Many startups with great ideas have realized that launching an ICO could get them the capital they need to kickstart their business. E-learning, finance, healthcare and gambling are popular ICO niches many investors turn their attention to.

Throughout 2017, countries like Russia, Switzerland and Cayman Islands rose to stardom because of their record-breaking ICOs. Blockchain technology is disrupting traditional business models with new ways to raise money, develop a project and turn visions into reality. When investing in ICO, the key is to do it sensibly as not all initial coin offerings are the same.

Investors should first spend time learning about the people involved in an ICO. A rock-solid whitepaper and a well-crafted website are equally important. The crypto market has become saturated with ICOs on all domains and niches. Before investing, it is important to understand the concept and the target audience of an ICO.

Needle in a haystack

Considering the numerous ICOs and new tokens popping up every week, knowing which could bring steady returns is like looking for a needle in a haystack. The secret is to perform due diligence, know the ICO’s country rules and regulations, as well as main competitors (if any). The better investors know about the new business’s mission, vision and overall environment, the better chances they have to differentiate ICOs with wealth potential from scams.

In general, ICOs are trying to find a solution to a problem with their Blockchain-based startup. Whether it’s the next big app for finding cheap accommodation worldwide (and take down Airbnb), or developing the next-gen platform for private banking services, the options are endless. When investing, the secret to success is to understand the ins and out of the ICOs market, as well as the team and the solutions they claim to provide.

Sports betting done differently

Many ICOs have tried their luck at developing the next-gen of PokerStars website on the Blockchain. But there’s an untapped sub-niche in the gambling industry: sports betting. Players need a comfortable, safe and convenient environment, whereas investors need a guaranteed income from their bookmaking activity. An ICO that streamlines the process with a transparent, fully verifiable model and could revolutionize the traditional sports betting industry.

XWIN – a transparent, secured sports betting platform on Blockchain

XWIN is a transparent, highly secure sports betting platform on the Blockchain that uses smart contracts on Ethereum to disrupt the traditional online gambling industry. XWIN makes a difference by catering to players and investors. It provides a conspicuous environment for both players and investors that want to earn returns from bookmaking.

The XWIN ICO aims to develop a crypto-bookmaker platform. Its investors will receive a 20 percent commission from the company’s profit margin. To ensure all transactions are verifiable and transparent, XWIN operates smart contracts on Ethereum. Added perks include secure transactions, 24/7 investment control, sustainability, and confidentiality.

The economic business model of XWIN has tremendous income potential, with margins between six and 20 percent per bet. The funds will be used to award players, investors, as well as continue the development and improvement of the platform throughout 2018.

Distribution of funds:

• 25% guaranteed player payments
• 35% promotion, online/offline marketing, PR and advertising
• 20% coverage of maintenance and administration costs
• 20% amount distributed among investors

The open sale of XWIN tokens will come to an end on Jan. 30, 2018. The pre-ICO will reach a deadline on the last day of the year, Dec. 31. Starting on Jan. 1, XWIN will enter the ICO phase, which will end on Jan. 30, 2018. XWIN tokens are already available for grabs, and one XWIN token is valued at 0.003 ETH.

The post The Right ICO Could be the Golden Ticket to Great Wealth appeared first on NewsBTC.

Ripple has crossed $3 per coin, keeping it solidly into the number 2 coin position. #WHEN MOON

The crypto markets aren’t small business anymore – here, one of the ecosystem’s earliest traders recaps 2017’s wild rise to the financial mainstream.

The first few days of 2018 have shown a booming start of the year for cryptocurrency, with the total market value pushing new all-time highs and many coins seeing huge bull trends. Among these, Stellar Lumens (XLM) is emerging as perhaps the biggest winner.

Since December 31, Stellar Lumens has already increased closed to 300%, from a price of US$0.31 to US$0.88. XLM has ascended to the sixth highest valued cryptocurrency, with a total market cap of US$15.7 billion. Stellar is now worth more than NEM and LTC, valued at US$15.2 billion and US$13.3 billion, respectively.

Just under a month ago, Stellar Lumens was struggling to maintain a position in the top 20 cryptocurrencies. This recent surge is an addition to an even larger run in the past month, with XLM growing over 980% since December 3. To reach the top 5, Stellar will have to grow another 60% to overtake Cardano (ADA), currently valued at US$26.8 billion

Stellar Lumens provides a decentralized alternative to Ripple (XRP). Like  Ripple, XLM provides a number of features to dramatically reduce transaction costs and simplify cross-border payments. Unlike Ripple, which is marketed to banks, XLM seeks adoption by citizens worldwide as a gateway for remittances, as well as a superior currency for micro-transactions for both merchants and individuals.

Much of XLM’s valuation can be attributed to their partnerships with industry leaders, such as IBM and Deloitte. Deloitte, one of the “Big 4” accounting firms, announced they have seen a 40% cost reduction since adopting Stellar Lumens for internal transactions. IBM is using XLM to power their blockchain initiatives. Currently, the company is creating a cross-border payment system, which seeks to act as a global solution for blockchain banking.

Beyond this, there are rumors that Stellar will be integrated in the upcoming distributed exchange, FairX, which is poised to serve as a desperately needed competition to the exchange giant, Coinbase. FairX is being developed by IBM Employees and in conjunction with existing IBM blockchain infrastructure.

It is not explicitly confirmed that Stellar will be incorporated on FairX, but if this is the case, it stands to reason that XLM has potential for even larger increases than what has already been seen.

The SEC released a filing for a proposed rule change for public comment. If implemented, the change would let Cboe launch a bitcoin ETF.

Binary options present an attractive way of trading.  Essentially, it offers an all-or-nothing approach to investing.  Investors would bet on the outcome of basically any event, the result of which would determine if they win or lose.

As with any type of traditional investing, there is always room for fraud.  There is also the issue of third-party intermediaries and huge transaction fees associated with them.  Blockchain technology solves both the problems — a fact that Betex is well aware of.

The Betex platform, using blockchain technology to offer transparent peer-to-peer derivatives trading.  This essentially means that users will be able to bet on these future outcomes without the use of a broker or middleman.  Because of the blockchain, users will be able to access real-time data, which results in Betex offering a high level of transparency and data accuracy to its members.  The benefits of blockchain are essential in ensuring that the platform reaches its aim of completely revolutionizing binary options trading.

With traditional trading, corporations and brokers could manipulate the system resulting in high losses for investors.  With Betex, the platform itself cannot bet and receives its revenue from the service fees it applies to its users.  Users will also be saving money as the platform does not require any form of deposit before members start betting. Another benefit of the platform being blockchain based is that it makes use of smart contracts to facilitate payments directly the users’ ETH wallets with no delay.

Similarly, brokers on Betex platform stand to equally benefit by upgrading themselves to the new-tech platform. Those connected to the platform are eligible to receive a commission of 2% on all user bets. As the turnover increases, their earnings also increase proportionally.

Stable Betting Token and Betex MVP

Betex will use the SBT (Stable Betting Token) as a medium of exchange on the platform as it will be used for betting and payments.  However, the Betex token is the main token.  It has security characteristics, and will therefore be registered with the SEC and other regulatory authorities.

Betex works on an innovative business model, where most of the funds, as much as 95%, are distributed among its successful traders.  In addition, 2.5% of the remaining 5% will be distributed among the platform’s token holders.

The platform is also creating a pool of common liquidity for each asset.  This will maximize the gains received by users. Betex already has MVPs created to provide a better understanding of the concept of common pool of liquidity implemented within the platform. The two versions are available at GoBet.io and Betex.io respectively. At the MVP stage, the platform supports 3 trading pairs and 6 trading intervals.

The Betex Token Sale

The platform has elected to have a phased token pre-sale, with the first phase having started on the 4^th of December 2017 will end on the 8^th of January 2018.  This phase has a maximum token availability of 500,000, and a hard cap of $1 million.

The second phase is scheduled for the 10^th of January 2018, and will last until the 31^st of January, or until the total availability of 1,500,000 tokens are sold.  The hard cap for this phase is $3.75 million.

It is important to note that only qualified investors, who are those who have completed the KYC/AML process, will be able to contribute to the pre-sale.

A total of 20% of the tokens will be sold during the pre-sale, with 40% being sold in the main token sale.  The founders and Betex team will receive 30%, 8% will go into reserve and the remaining 2% has been allocated to the bounty.

Betex is just another example of the benefits of disruptive technology.  By completely revolutionizing the traditional method of binary option trading, the platform will be able to give its users so much more, not just in monetary terms, but in transparency and trust as well.

The post Betex: The Future of Blockchain-Based Binary Trading appeared first on NewsBTC.

Seoul-based law firm prepares to fight new crypto trading regulations in the country, calling them ‘unconstitutional’. #NEWS