Day: January 28, 2018

Blockchain Connect, a US-China focused, San Francisco-based conference, came through on uniting Blockchain enthusiasts despite logistical setbacks. #NEWS

Two of the hottest trends in technology today could be even more influential if they were combined.  Blockchain has applications that stretch way beyond just cryptocurrencies and Internet of Things is, or will be, all encompassing. The latter has potential security issues on a terrifying level and the former could be used to alleviate them.

By removing a central authority or controlling system, blockchain can help secure IoT devices and networks by reducing the risk of single point compromise. According to Forbes there is a lot of ‘hot air’ surrounding both technologies which still have a long way to go.

Security issues

IoT by nature relies on an autonomous flow of data between interconnected devices. These devices can be anything from a refrigerator to a CCTV system and they all run on different software with different levels of security.

Back in 2016 the world was made painfully aware of this when the Mirai Botnet orchestrated an unprecedented distributed denial of service attack from hundreds of thousands of vulnerable IoT devices. The IoT client-server architecture was, and still is, its Achilles heel.  This central authority is responsible for the transmission and collection of data from the IoT network, be it a home central heating system or a driverless car. This makes one single point a target of attack that can be easily compromised.

Blockchain solutions

Effective cyber security has five essential directives: availability, auditability, accountability, integrity and confidentiality. By using an immutable distributed ledger to store data instead of a centralized server these five principles can be upheld. The transparent transactions and activity can be accessed by anyone with authority on the network. If there is a breech or data discrepancy it is easy to locate where and what has caused it.

The use of encryption also adds a layer of trust for all parties involved in the transaction. The physical devices would securely record details of transactions that take place between themselves, with no human oversight. Without the private keys giving write access to the blockchain no human will be able to overwrite the record with inaccurate information, the machines would be responsible for their own private keys.

Smart contracts could also be applied to create executable agreements when certain conditions are met. This would be especially useful for delivery and payments systems. There are already a couple of IoT based blockchain companies such as the IOTA Foundation however both industries are on the cusp of massive growth in the coming years so there are likely to be a lot more around the corner.

The post A Marriage of IoT with Blockchain for Improved Security   appeared first on NewsBTC.

The supposedly independent Weiss Rating gave Bitcoin a C+ grade, while giving some virtually non-existent projects much higher ratings. Apparently vaporware is more valuable than actual code. #OP-ED

Two San Francisco blockchain startups are teaming up, including one that is aiming to create a kind of decentralized Airbnb.

Key Highlights

• Ripple price managed to move above the $1.2500 resistance area against the US dollar.
• There was a break above a major bearish trend line with resistance at $1.2250 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair is currently placed nicely above the $1.2500 support area and it may rise further.

Ripple price traded higher recently against the US Dollar and Bitcoin. XRP/USD is currently supported above $1.2500 and is preparing for the next move.

Ripple Price Support

There was a minor upside reaction in Ripple price from the $1.1000 swing low against the US Dollar. The price gained momentum and it was able to move above the $1.2500 and $1.3500 resistance levels. It traded close to the $1.4000 level and formed a high at $1.3962. During the upside move, there was a break above a major bearish trend line with resistance at $1.2250 on the hourly chart of the XRP/USD pair.

Later, a downside correction was initiated from $1.3962. The pair moved below the 23.6% Fib retracement level of the last wave from the $1.1125 low to $1.3962 high. On the downside, there is a major support near $1.2500. There is also a bullish trend line positioned with support at $1.2500. Moreover, the 50% Fib retracement level of the last wave from the $1.1125 low to $1.3962 high is also near $1.2500. It seems like the pair may correct a few more points towards $1.2500 and the 100 hourly simple moving average.

As long as the price is above $1.2500, it remains supported. On the upside, the price to trade above $1.4000 to move back in the bullish zone toward $1.8000 and $2.0000.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is reducing the last bullish slope.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently placed well above the 50 level.

Major Support Level – $1.2500

Major Resistance Level – $1.4000

Charts courtesy – Trading View, Kraken

The post Ripple Price Technical Analysis – Can XRP/USD Retain Momentum? appeared first on NewsBTC.

Bitcoin Price Key Highlights

• Bitcoin price is in a slow but steady uptrend, moving inside a new ascending channel on its 1-hour time frame.
• Price is testing the mid-channel area of interest which lines up with the 38.2% Fibonacci retracement level on the latest swing low and high.
• A bounce off this level could take bitcoin price back up to the swing high or channel resistance.

Bitcoin price is starting a slow and steady climb, testing support at the Fibonacci retracement levels before possibly resuming the uptrend.

Technical Indicators Signals

The 100 SMA just crossed above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. This means that the uptrend is more likely to continue than to reverse.

In addition, the moving averages are close to the 50% Fibonacci retracement level, which is just above the channel support. A larger correction could make it all the way down to the bottom of the channel around $11,000, and a break below this could signal a pickup in bearish momentum.

Stochastic is on the move down to indicate that sellers have the upper hand for now. Similarly RSI has room to fall, so bitcoin price might follow suit. Once both oscillators hit oversold regions and turn higher, bulls could return stronger and push price up to the $12,200 swing high or $12,500 channel resistance and beyond.

Market Factors

Another exchange shutdown on hacking weighed heavily on bitcoin price as investors continued to worry about security issues. It doesn’t help that the concerns about the crackdown in South Korea, China, and India are still in play and discouraging more buyers to join in.

Apart from that, a crypto rating agency noted that Ethereum and Ripple are better than bitcoin, so any influx in funds could favor those rival altcoins instead.

However, dollar weakness has led to some support for BTCUSD after the advanced GDP report turned out weaker than expected, casting doubts about Fed tightening. The FOMC has a policy statement scheduled this week and this could also lead to more dollar volatility against bitcoin price.

The post Bitcoin Price Technical Analysis for 01/29/2018 – Bulls Creeping Back In? appeared first on NewsBTC.

My view is that this week will be significant for most BTC alternatives and being under our radar, I really think we should look to buy LTC.

On our entry chart we can see that prices are trending higher and above the main resistance line.  Concurrently at the daily chart, a 3-bar reversal pattern along the main support marked by the 61.8% Fibonacci retracement line has formed.

While at it, look to liquidate EOS because it is likely that prices might move lower towards support.

Let’s dissect these charts:

NEO Higher highs

NEO buyers are in charge after our trade conditions were met last week. The strategy now is to buy on bull back. Because the middle significance on our entry chart is significant, that will be our the perfect buy zone.

Even though we cannot discount chances of NEO prices ranging, our ideal propositions for going long is if prices close above $155.

A single glance at the daily chart shows that prices are actually bouncing off the middle BB which as we know is a key support line.

Buy LTC

A double bottoms and a close above the resistance trend line of a wedge. It is likely that LTC might be gaining momentum for higher highs and even close above key resistance lines.

From my angle, the lower and upper BB are beginning to diverge. This is what we want to see good because candlesticks might actually begin banding along the upper BB as buyers step in.

It’s a pretty nice thing that we have these higher highs but as I type this LTC is actually at resistance line of a consolidation at $185.  Even though I expect LTC to close higher any pull back from this level be an awesome buying opportunity.

EOS Resistance at $15.25

As it is, my forecast is for EOS to slow down and trickle back towards $12 as price action corrects that over-valuation after week ending January 21.

In this time frame, you can easily see volatility is tapering as $15.3 is being tested. If anything, this is the main resistance line. Traders can sell now as we capitalize those spinning tops on the daily chart and begin selling this token.

The post Altcoin Analysis: NEO, EOS and LTC appeared first on NewsBTC.

How likely is an end-of-days scenario for bitcoin? Not very, according to investor Sebastien Meunier in a piece that outlines the possibilities.

FOMO Moments

The markets are green again for another day, driven by momentum during the Asian trading session. News that Japanese exchange Coincheck will be refunding all of its investors with their stolen XEM would have been a positive influence. One altcoin however is standing apart again with gains of over 16% on the day and that is Populous.

According to Coinmarketcap PPT is up 16.65% in the past 24 hours. It has jumped from just over $50 on Saturday to $73 today, a rise of over 45% in a couple of days. The price of this coin has over doubled since the mid-January crypto crash that brought all prices tumbling down.

The blurb on its website says Populous is a peer-to-peer invoice finance platform that is globalizing what is currently a localized and limited market sector. Entrepreneurs and business professionals can enter into an invoice auction-based marketplace to bid on invoices to unlock the cash previously tied up in them.

The beta platform is nearing imminent release, and a simulation has already been announced, which may explain renewed interest in the altcoin which is currently outperforming all of the others in the top 25. Populous only has 53 million PPT in total supply, with 37 million circulating so it is a very low supply coin. Total market capacity is $2.7 billion with $17 million traded in the past 24 hours. The top exchange to trade PPT is Binance with almost 75% of the total volume.

More info on Populous can be found here: https://populous.co/

Happy Trading.

The post The leading altcoin of the moment – Populous appeared first on NewsBTC.

Key Points

• Bitcoin cash price is slowly moving higher and is currently above the $1680 level against the US Dollar.
• There is a new ascending channel forming with support at $1660 on the hourly chart of BCH/USD (data feed from Kraken).
• The pair may continue to move higher since there are a lot of positive signs with a break above $1650.

Bitcoin cash price is gaining upside momentum above $1650 against the US Dollar. BCH/USD is likely to gain further, but for that it has to settle above $1700.

Bitcoin Cash Price Trend

There was a minor bounce in bitcoin cash price from the $1550 swing low against the US Dollar. The price gained traction and it was able to move above the $1600 and $1650 resistance levels. The upside move was positive with a break above the $1700 level. A high was formed near $1756 from where a downside correction was initiated. BCH moved below the 23.6% Fib retracement level of the last leg up from the $1556 low to $1756 high.

At the moment, it seems like there is a new ascending channel forming with support at $1660 on the hourly chart of BCH/USD. The pair is currently testing the 38.2% Fib retracement level of the last leg up from the $1556 low to $1756 high. Below the channel support, the 100 hourly simple moving average at $1640. It also coincides with the 50% Fib retracement level of the last leg up from the $1556 low to $1756 high. Therefore, the $1640-1650 support area holds a lot of importance in the near term.

On the upside, the price may soon break $1700 one more time to challenge the $1750 swing high.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is slightly in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently just below the 50 level.

Major Support Level – $1650

Major Resistance Level – $1750

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Technical Analysis – BCH/USD to Gain Further? appeared first on NewsBTC.

It’s been almost ten years since travel giant Airbnb was established — a move which turned the hotel and rental industry on its head. Now there’s someone new to the party: Ethereum based CryptoCribs. The start-up is still in its early stages, recently choosing to set up shop in the Parisian start-up campus Station F, but it’s already getting travelers in the cryptosphere talking.

One thing that really sets CryptoCribs apart is its non-conventional approach to funding. Top competitor Crypto Bnb, a vacation marketplace that improves short-term rental experiences and enhances search results for the hospitality industry (as per the company’s website), is currently utilizing an ICO to generate funds — CryptoCribs, on the other hand, did not take that route: And it’s working. In just three months CryptoCribs already has listed about 800 properties on its website, and according to Swiss co-founder Erasmus Elsner, this happened “without [CryptoCribs] having to spend a dollar on marketing.”

Although at first glance the company’s site may appear similar to Airbnb, both the technology and philosophy behind it are quite different. CryptoCribs uses blockchain technology, having its database in a decentralized network, so the community of tenants and landlords actually own the database and also have a voice in the management of the platform. As for payments, cryptocurrencies like Bitcoin, Ethereum, and more, are accepted. The fees to use the service are also very attractive. In contrast to Airbnb, where intermediary fees can reach 20%, CryptoCribs initial commission is just 5% — and it gets better: With each booking and positive review, the 5% fee drops by 0.2%. 

Elsner, who previously worked for JPMorgan, Rothschild, and UBS, is a prime example of a young generation of idealistic crypto-entrepreneurs. With CryptoCribs not three months into operation, he was already receiving takeover offers and requests by a large hotel chain to rent out rooms through the site. And although deals like that could potentially give a huge boost to the platform, Elsner wants the users themselves to decide whether they agree with such moves. Fortunately, thanks to previous investments in cryptocurrencies like Ethereum, the start-up has enough capital to continue independently regardless of what decisions the platform and its users make in the future.

As for the future, Elsner hopes to continue the concept of disintermediation with the help of blockchain technology. He sums up his philosophy as follows: “I have always traveled extensively and was strongly involved in the crypto community. That’s how I came up with the idea to set up a travel platform where you do not have to pay costs to an intermediary.” One example he provides is the use of “smart keys,” which are linked to the rental contract: Only when you open the door of your rental with such a key will the money will be taken from your account.

The post Ethereum dApp CryptoCribs Outperforming ICO Projects appeared first on NewsBTC.