Day: January 23, 2018

An Australian-based tech company could become the basis for a new Blockchain based retail system. Over 30 mln products have been added to Shping’s global database. #SPONSORED

DASH/USD

DASH tried to rally initially during the day on Tuesday but found the $800 level to be resistive. Because of this, the market looks likely to go down to the $600 level, as we have seen negativity yet again during the day. Ultimately, the $800 level will be a resistance barrier, with $600 offering support. Do not be surprised if we break below that level later.

LTC/USD

Litecoin also drifted lower, reaching towards the $165 level. The market looks likely to test the lows again, which means we are going to go to the $140 level. It’s not until we close above the $200 level that I believe the market has a chance of rallying with any type of significance.

Thanks for watching, I’ll be back tomorrow.

The post DASH and Litecoin Analysis January 24, 2018 appeared first on NewsBTC.

Bitcoin prices look set to explore sub-$10,000 levels, leaving the bulls an uphill task to achieve a reversal.

ETH/USD

Ethereum markets drifted lower during the day again on Tuesday, reaching towards the $900 level. There is an uptrend line underneath that could offer support, but at this market breaks down below the $800 level, look out below. At that point, I would expect to see this market reach towards the $600 level. Alternately, if we can break above the $1000 level with strong volume, we could see a recovery in price.

ETH/BTC

Ethereum markets went sideways during the trading session against Bitcoin again on Tuesday, as both crypto currencies are struggling. We are currently consolidating between 0.08 on the bottom, and 0.10 on the top. Because of this, I am staying out of this market and waiting for some type of impulsive move to get involved.

Thanks for watching, I’ll be back tomorrow.

The post Ethereum Analysis January 24, 2018 appeared first on NewsBTC.

BTC/USD

Bitcoin initially tried to rally during the day on Tuesday but struggled again as it looks likely to continue lower. We are pressing the $10,000 level, an area that of course has attracted a lot of attention. However, it’s likely that we will break down below there considering the tenacity of the selling pressure, and the lack of positive volume. Because of this, I anticipate that we are going to continue to go lower, perhaps down to the $8000 level next.

BTC/JPY

Bitcoin also fell against the Japanese yen and is now below the ¥1.2 million level. It’s likely that we are going to go testing the ¥1 million level in the short term, so I believe that based upon the price action in the most recent candles, that we are going to continue to fall from here. A breakdown below the ¥1 million level would be very negative, sending the market much lower.

Thanks for watching, I’ll be back tomorrow.

The post Bitcoin Analysis January 24, 2018 appeared first on NewsBTC.

Japan has always been seen as a sanctuary for cryptocurrency markets. The government is keen to embrace blockchain technology and allow registered exchanges to operate with impunity. The top exchange in the country will be expanding its markets soon as it has been granted approval to open its digital doors to the European market.

Tokyo based crypto exchange BitFlyer has been granted a payment institution (PI) license for the EU by Luxembourg based regulators according to the Financial Times. The exchange is one of the world’s top in terms of trade volume as it is responsible for 80% of Japan’s Bitcoin trade. Southeast Asian nations are huge players in the crypto trading markets and Japan and South Korea are the dominant countries.

Euro trading

Currently BitFlyer offers fiat trading in three digital assets; Bitcoin, Ethereum and Bitcoin Cash paired with the Japanese Yen. Now that it has the green light for a launch in Europe it will start with a Bitcoin/Euro pair and expand to other altcoins and more fiat currencies in coming months. Being the only licensed exchange in Europe is a big deal. It will give European traders access to one of the world’s largest Bitcoin markets, Japan.

Yuzo Kano, founder and CEO of BitFlyer and former Goldman Sachs trader expressed his pride over the move;

“When I set up bitFlyer in 2014, I did so with global ambitions and the belief that approved regulatory status is fundamental to the long-term future of Bitcoin and the virtual currency industry. I am proud that we are now the most compliant virtual currency exchange in the world; this coveted regulatory status gives our customers, our company and the virtual currency industry as a whole a very positive future outlook.”

Large volumes

It has been estimated that around 10 billion Euro (USD 12 bn) is traded on the exchange per month across the globe. After USD and JPY the Euro is the third largest fiat currency to be traded on crypto exchanges. BitFlyer boss Kano went on to say;

“[BitFlyer] is the most compliant virtual currency exchange in the world. Approved regulatory status is fundamental to the long-term future of bitcoin and the virtual currency industry,”

The exchange also launched in the US in November and has been funded by a number of venture capital and blue-chip backers. The exchange has plans to expand its offerings and products in the future but no details were revealed at the time of writing.

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2017’s cryptocurrency boom netted Coinbase $1bln in revenue, company’s stocks remain private, despite demand — industry insiders report. #NEWS

Tech giant Microsoft and blockchain alliance Hyperledger and others have joined blockchain-based digital identity initiative, the ID2020 Alliance.

As much as technology has evolved, there are still some inefficiencies and issues with the existing solutions for network infrastructures. Companies often rely on big and heavy systems.

Setting up a server, for instance, can be quite expensive, since even virtualized solutions require a physical infrastructure. Whichever solution is adopted, there is always a great level of vulnerability. As evidenced by recent news of faulty Intel, AMD and ARM chips, the hardware that sustains these services can be easily hacked, and the costs of replacing or fixing faulty or vulnerable hardware are too high.

For other necessities, such as data storage, most companies turn to the Cloud. Despite the fact that 90 percent of the companies trust the system to store their data, many worry about security issues such as data loss, data privacy or confidentiality breaches.

So, is our Internet outdated? Titanium Blockchain Infrastructure Services certainly thinks so. And to address these issues, it is introducing a new solution that allows for the virtualization of a company’s entire network infrastructure in a safe environment, by offering an IaaS (Infrastructure as a Service) that works on a dedicated Ethereum Blockchain.

Bringing experience to the table

It was having those issues in mind that Titanium Blockchain Infrastructure Services was founded. Founder, Michael Stollaire, is deeply familiarized with Enterprise Infrastructure Management, as he has almost two decades of experience leading EHI, a major technology consultancy that specializes in managing infrastructures.

As the frontman of EHI, Mr. Stollaire has acknowledged the struggles that concern all sorts of companies, from small and medium enterprises, to giants like Apple or Microsoft, and has put together an experienced team of Blockchain Technology, Business Management and Internet Network Infrastructure Management experts to develop the best solution.

With the expertise gained through the years, plus a strong client portfolio, Titanium has much to gain with its connection to sister company EHI.

The solution

Titanium is offering companies the possibility of easily setting up a cheap and safe enterprise level network infrastructure, by using any device such as a laptop, desktop, smartphone or a tablet.

The aim is to create a shockproof distributed network infrastructure that will replace the system that runs the Internet today. By taking away the need for inefficient hardware, TBIS is aiming to build a better Internet, one that is not vulnerable and is widely available for all.

The system is using an IaaS that runs on a dedicated Ethereum Blockchain to provide virtual and decentralized routers, firewalls, servers, storage, and databases.

This solution can reduce costs while guaranteeing a safer and more efficient network. The system can detect any faults and run autonomous “healing” actions to fix them and is prepared to transfer operations to a different network of redundant nodes if a device falters, thus guaranteeing 100 percent uptime of all devices, applications, and services.

Being based on the Ethereum Blockchain, the system is extremely safe, but it is also prepared to limit the potential impact of DDoS or other address-specific attacks.

You can still invest

An experienced team and innovative product have granted TBIS’ ICO a Dun & Bradstreet (D&B) and Better Business Bureau (BBB) accreditation.

The ICO has been launched on Jan. 1, 2018 and is running for approximately 60 days or until the hard cap is reached. The BAR token will be used as a way of paying for the services within the TBIS system and is being sold at an exchange rate that has been pegged to the USD value of ETH.

Titanium has created 60 mln BAR tokens and will not create any more in the future. Out of the total, 60 percent (35 mln) will be sold to investors, 20 percent will go to the TBIS team, 10 percent is going to the community bounties and the remaining 10 percent will be allocated for the reserve pool. Any unsold BAR will be burned.

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There are many facets to the notion of liquidity. Liquidity may be defined as the ability to convert an asset into cash readily on demand. If this definition seems myopic, you can see it as an asset that can be sold or bought at its fair price. Therefore, liquidity signifies that there are no premiums or discounts attached to an asset when selling or buying it. This makes it easy to enter and exit the asset at will.

For any tradable asset, liquidity is paramount. Liquid markets are smoother and deeper when compared to illiquid markets, which can put traders in a place from which it may be difficult to navigate out. For instance, Bitcoin has experienced significant growth within nine years of its existence. In 2009, there were only 50 Bitcoins but today, there are over 13,000,000 bitcoins in circulation. Virtual currencies or cryptocurrencies have witnessed waves of illiquidity. What are the factors that influence liquidity?

• Exchanges: The increasing number of cryptocurrency exchanges has provided opportunities for more individuals to trade in cryptocurrency. The increase in volume and frequency of trading has contributed to enhancing liquidity.
• Acceptance: The acceptance of cryptocurrencies at online shops, brick and mortar stores, bookings, etc. has contributed to its usability while reducing its volatility. Coins become more liquid when frequently used as a means of payment.
• Regulations: Both direct and indirect regulations have played a crucial role. The position of cryptocurrency in each country is different – banned in certain areas, allowed in others, while in dispute elsewhere. Because of the increasing presence of cryptocurrency in the form of exchanges, ATMs, casinos, transactions in shops, financings, etc. these clarified regulations will continue to influence liquidity.
• Awareness: Many people are practically unaware of what cryptocurrency is all about and how it works. In the midst of these are prospective investors, buyers, and traders of digital coins. Lack of clear guidelines by relevant authorities and limited knowledge has limited engagement to devotees to this moment, but as this changes, so will liquidity via increased volume and acceptance.

Then, How can one technically solve the issue of liquidity facing cryptocurrency? Below we will explore a solution provided by Bancor for addressing the challenges of liquidity faced by cryptocurrencies, conventional tokens, and community currencies. According to Bancor, the issue of liquidity can be addressed through the use of Smart Tokens, by programming tokens to be autonomously convertible for other tokens within the same network. This is achieved through the use of Connectors, which are modules in a token’s smart contract that hold balances of other tokens they are connected to.

What is the Bancor Protocol Smart Token all about?

Let’s begin with the Bancor Protocol which is the standard for what Bancor calls Smart Tokens. The method is as follows: A Smart Token is programmed with one or more connectors, which are modules in their smart contracts. Each connector holds a balance of another connected, the connected token, which can be deposited by the Smart Token creator. These balances are used by the Bancor Formula to calculate the exact price of a Smart Token in any of its connected tokens. The Smart Token can be bought and sold by depositing or withdrawing the calculated amount from its connector balances. For example, if a Smart Token has one connector which holds a balance of Ethereum, that Smart Token can be bought by sending Ethereum to the Smart Token’s contract, or sold by sending Smart Tokens back to the contract and receiving the corresponding amount of Ethereum in return.

If you haven’t heard of smart contracts, these are computer programs which run on the blockchain, meaning they are unchangeable as long as the underlying blockchain is operational. In the case of tokens, smart contracts allow for the programming of certain features, issuing policies and other attributes, directly into the token’s governing software. Bancor uses this ability to program Smart Tokens to buy and sell themselves from users, in exchange for any of their connected tokens, at an algorithmically calculated rate according to the open-source Bancor Formula. This allows Smart Tokens to be plugged into a network architecture, and continuously liquid to every other token in the network, according to a mathematical price which balances buy and sell volumes in the network (more on the formula below.)

The Bancor Protocol recommends a new solution to the issue of liquidity for cryptocurrencies by using an asynchronous price-discovery model, which is enabled by these balances holding Smart Tokens. The most unique characteristic of this solution is the fact that you can buy or sell Smart Tokens anytime, directly through their smart contracts (Bancor also offers a simple Web App user interface) without the need for an exchange or even matching buyers and sellers, as has been the case for decades. Does this sound like crypto magic to you? Let’s explain how it works.

• Firstly it’s important to understand that Smart Tokens are money that themselves hold money, in their connector balances. What this means is that the smart contract that operates the Smart Token owns a minimum of one other token balance. This is the Smart Token’s initial liquidity “plug in” to the network, and from where the Smart Token can withdraw other tokens to sellers, and collect other tokens from buyers.
• Secondly, the supply of a Smart Token can be dynamic, and handled by its smart contract directly. When a Smart Token is purchased by sending one of its connected tokens to the smart contract, these tokens are added to the connector balance and new Smart Token units are created and sent to the buyer. This means that a Smart Token’s supply is growing as demand for it is growing. Thankfully, so is its connector balance, so as you’ll see below, its price is also increasing. This means that increased supply does not mean inflation or dilution for Smart Token holders, since price is a factor of demand, not constrained by a traditional fixed supply. Similarly, when a Smart Token is sold, it is simply sent back to its smart contract, which withdraws the corresponding amount of connected tokens from the connector balance and returns them to the seller, and the sold Smart Token units are destroyed and removed from circulation. Price however, is still decreasing, thanks to the Bancor Formula which takes this decreased connector balance into account. You can liken this mechanism to when tokens are issued by initial coin offering smart contracts in exchange for other tokens like Ether.
• Thirdly, is the realization that Smart Tokens calculate their own prices vis-a-vis other tokens they are connected to. This is according to the Bancor Formula which holds the ratio constant between a Smart Token’s total market cap, and its connector balance. As buys and sells add and subtract tokens from the connector balances, the price of a Smart Token will fluctuate to keep this ratio, configured by a Smart Token’s creator (and called the weight), constant. This ensures that buy and sell volumes strive for equilibrium, as a Smart Token’s price is rising when it is being bought, and falling when it is beind sold. Just as you’d expect with supply and demand principles, only here the supply can adapt to the demand, and price is calculated as a mathematical function between the Smart Token and its real-time connector balances. .

One may be thinking if all of this functionality is required, given the fact that price discovery and liquidity is already obtained via trading activity in traditional exchanges. Is there a reason for a different solution? The answer to this question is yes. This is because exchanges can be seen as “matchmakers” between individuals or parties with different wants. A particular trade comprises of two opposing transactions, one where each party is selling what the other party wants to buy. The situation where a particular party needs to find another party with opposite wants is the sole reason why currencies and other assets face liquidity risk. With this constraint, it is impossible for smaller scale currencies, such as loyalty points, community currencies, and other relevant credits, as examples, to become consistently liquid.

Additionally, people who provide liquidity such as market makers and traders are logically looking for ways to take full advantage of profits. This connotes that liquidity comes at a price or cost with the current exchange solution, allocating value to middlemen. This is why BancorSmart Tokens are unique, allowing currencies to enjoy automated and continuous liquidity, and with no added fees. The contribution or partaking of market makers and traders in their convertability isn’t compulsory, but optional for both parties. In fact, Smart Tokens may be regarded as a token with a built-in not-for-profit automated market maker for itself, being operated by its open-source smart contract.

A Bit About the Bancor Token Generation

This decentralized liquidity network Blockchain project raised approximately $153 million in Ether within three hours. Bancor was one of the most successful token launches of 2017. The token generation event took place on June 12, 2017, attracting more than 390,000 contributions in Ether, a world record in the market at the time.

Bancor’s BNT is the Bancor Network Token. According to the company, in the next two years, there will be a host of new features available to Smart Tokens, including security upgrades such as delegated account recovery, the ability to purchase them with a credit card, enabling communities without a token to easily create one without technical knowledge, and moving to a fully decentralized backend and front-end architecture, as well as taking the liquidity network completely cross-blockchain. Finally, we will see the launch of Bancor Grants, helping local communities build capacity towards launching and maintaining a local Smart Token for their economy or network, and subsidizing the BNT needed for qualifying communities to connect to the Bancor Network (via their Smart Token’s connector balance, which will be held in BNT.) Since launch, Bancor has activated their token, launched and activated Relay Tokens for over 20 ERC20 tokens which are now convertible via the Bancor Network, launched their Web App on desktop and mobile, and deployed a portable widget to enable users to convert Smart Token’s from anywhere on the Internet. This attribute alone safeguards users and enables them to convert their tokens remotely and in a decentralized fashion.

BNT holds Ether (ETH) as its connected token, making it possible to convert any token within the Bancor Network into ETH, instantaneously and without the need for matching buyers and sellers. This is groundbreaking in the blockchain world, with Bancor pioneering an autonomous technology that a technical solution for instant liquidity and eventually also the instant creation of intrinsically liquid cryptocurrencies.

What are the Benefits of Bancor Smart Tokens?

Smart Tokens bring about several benefits when compared to the traditional token model, which include:

• No Extra Fees: Unlike the traditional token and exchange models, the only compulsory fee that is paid for converting Smart Tokens is the blockchain platform fee, which in the case of Ethereum is known as gas.
• Continuous Liquidity: Because selling and buying are carried out through smart contracts, you can always convert Smart Tokens from/to their connected tokens, regardless of the volume of trading done.
• Foreseeable Price Changes: The Bancor Smart Token allows for the pre-calculation of price changes according to transaction size, since each transaction itself will result in a change to the current price by adding to or subtracting from connector balances. This price predictability leads to relatively more stable prices.
• No Spread: The same price is calculated for buying and selling Smart Tokens since the calculation of these prices is done formulaically by the non-profit smart contract, not by other buyer and seller offers, traditionally known as an order book.

In Conclusion

Bancor has discovered a way out of the historic challenge of liquidity without needing a counterparty to buy or sell a token. This is attainable through a smart contract, currently on the Ethereum network, which keeps a balance in another connected token at all times, and uses a simple formula to continuously recalculate the exact rate at which a Smart Token is convertible for any of its connected tokens, and as such, for any other token in the network. This innovation replaces traditional labor-based solutions, in the form of market makers and exchanges, both for-profit actors, with a technical solution, in the form of a non-profit smart contract that will always buy and sell Smart Tokens thanks to their built-in liquidity mechanism. This autonomous solution could offer a step-function improvement in efficiency, decentralization, accessibility, transparency, and stability for the emerging cryptocurrency economy – if Bancor can pull it off

The post Bancor Smart Tokens Provide Solution to The Issue of Liquidity appeared first on NewsBTC.

It is time take a look at how action in the bitcoin price fared overnight in an attempt to try and figure out if we can use the action we have seen to try and put together a strategy for the European session today.

Instead of spending too much time discussing what just happened, it’s probably worth jumping straight into the chart for the purpose of this morning’s analysis because it’s looking as though we may get a near-term entry if things continue to move as they are doing right now.

So, with this noted, let’s get straight to it.

As ever, take a quick look at the chart below before we get started so as to get an idea where things stand right now. It is a one-minute candlestick chart and it has our primary range overlaid in green.

As the chart shows, the range that we are looking at for the session today comes in as defined by support to the downside at 10463 and resistance to the upside at 10706. If we see price close above resistance, we will enter long towards an immediate upside target of 10850. A stop loss on the trade somewhere in the region of 10675 will work to define risk nicely and will ensure that we are taken out of the position in the event that the price turns against us mid-trade.

Looking the other way, if price closes below support, we will jump in short towards a downside target of 10200. Again we need a stop loss on the position so somewhere in the region of 10485 looks good from a risk management perspective.

We will see how things play out during the European session today and we will revisit the markets later on this evening to try and adapt our strategy in the wake of any volatility.

Charts courtesy of Trading View

The post Bitcoin Price Watch; Straight Into The Action appeared first on NewsBTC.

Initial coin offerings have grown in popularity throughout 2017. Hundreds of projects have come to market during that year alone. Additionally, we see dozens of new projects pop up every single month. Unfortunately, this also attracts the attention of criminals from around the world. Nearly 10% of all ICO funds raised during 2015 and 2017 has been stolen. This is a very worrisome trend, yet it seems there is no sign of any improvements.

No one will deny initial coin offerings are a very popular trend right now. This business model allows companies and teams to raise millions of dollars. There’s no need to deal with accredited investors, as anyone who owns cryptocurrency can partake. Given the value appreciation of such currencies, it’s only normals criminals would show an interest in this business model as well. The statistics projected by Ernst and Young don’t paint a happy picture whatsoever.

Criminals Target Initial Coin Offerings

More specifically, they project close to 10% of ICO funds have been stolen so far. We are talking about nearly $400m worth of funds in this case. These funds have either been stolen or lost due to hacks. For a $3.7 billion industry, 10% if an unacceptable number.  There is usually no recourse when a hack occurs either. More specifically, if funds are stolen, they are hardly ever returned to the original owners. Most initial coin offerings focus on attracting investors rather than taking security precautions to keep the funds safe.

It is evident the initial coin offering business model has its benefits. It is an easier way to sell services or raise money. Companies can also issue their own native tokens. As a way to tie customers to one’s brand, that can prove to be invaluable in the long run. The SEC has kept close tabs on these developments, though. More specifically, they are concerned about the issuance of unregulated securities. A few of these initial coin offerings have faced additional scrutiny because of their tokens.

It will be interesting to see what the future holds for initial coin offerings. If projects keep losing a lot of funds due to lackluster security precautions, this situation will keep getting worse. Criminals will continue to attack this industry in every possible way.  Projects need to focus on security first and foremost. There’s no point in raising money if you will lose 10% of it or more in the near future. Always do your own research before committing money to an unknown project.

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