Day: February 2, 2018

Santander UK is working with Ripple to allow customers to make international payments using a new mobile app.

This article originally appeared on Bitcoin Magazine.

Mark Cuban, a billionaire investor and the owner of the NBA’s Dallas Mavericks, has confirmed that his organization will begin accepting Bitcoin for tickets starting next season.

Billionaire investor and Dallas Mavericks owner Mark Cuban says fans will be able to purchase tickets with #Bitcoin starting next season.https://t.co/ZXee3ewM3F

— Joseph Young (@iamjosephyoung) January 16, 2018

In response to inquiries from Bitcoin users and supporters on social media, Cuban stated that beginning next season, the Mavericks will sell tickets to its games using Bitcoin.

Bitcoin For Large Payments

Evidently, the Bitcoin blockchain network is currently congested and its transaction fees are too high. Erik Voorhees, the creator and CEO of ShapeShift, noted that Bitcoin is not usable for small payments under US$100 as of now.

“Fees are too high on the Bitcoin network. It doesn’t make sense to enable orders below $100-$200 unfortunately,” said Voorhees, responding to requests from ShapeShift users to lower Bitcoin’s minimum deposit threshold on the ShapeShift digital asset exchange.

As the developers of BTC.com explained in a recent blog post, however, Bitcoin’s transaction fees are not affected by the amounts being transacted. Rather, a transaction fee on the Bitcoin network is determined by the size of the transaction that analyzes the inputs and outputs of the transaction.

On the Bitcoin network, it costs the same amount to send US$100 or US$1,000,000. Hence, it is very efficient to utilize Bitcoin in processing large payments, because traditional money transfer methods provided by banks and financial institutions are significantly more expensive.

“Despite the common misbelief, the amount of bitcoin you send does not impact the fee. What impacts the fee is the size of the transaction data. Without going into details, when users receive many small transactions frequently, the size of their transactions tend to become larger,” said the BTC.com development team.

According to TicketMaster, the official ticketing partner of the NBA, single game tickets cost up to US$1,500, depending on the seat.

For tickets above US$200, utilizing Bitcoin as a payment method can be efficient, as Bitcoin fees for medium-size transactions are around US$11. On SegWit-enabled wallet platforms with systems like transaction batching implemented, fees can be reduced to below US$5. Thus, by using SegWit-enabled wallets like BitGo and BTC.com, Dallas Mavericks fans will be able to purchase tickets with relatively lower fees than they would otherwise.

Will Bitcoin Fees Remain High?

In the absence of on-chain scaling, given that the integration of Lightning by commercial platforms like Blockchain and Coinbase could take many months – considering many of the largest companies in the industry have still not implemented SegWit – the transaction fees on the Bitcoin network will likely remain high in the short to mid-term.

That being said, the market is anticipating the emergence of payment channels that could allow users to settle micropayments or small transactions with substantially lower fees. Second-layer payment channels can be especially useful for small purchases, such as US$9 tickets to Dallas Mavericks games.

UNICEF has launched Game Chaingers in an effort to bring together gamers and crypto-enthusiasts from across the globe to have them unite their computing power for a good cause.

In an effort to raise funds for victims in war-torn Syria, UNICEF is putting solidarity in the blockchain, asking gamers and crypto-enthusiasts to lend their powerful graphics processors to help the humanitarian fund mine cryptocurrency — specifically, Ethereum. This is the new project named Game Chaingers, and joining it is as easy as going to its website and providing a few details about your system so it can configure and install the mining software.

UNICEF says it created the project out of the need to find new donors, since most of its benefactors are already over 50 years old. By their thinking, asking to borrow computers’ processing power — instead of directly asking for cash — is a novel way to allow those who aren’t normally in the position to give to charities an opportunity to contribute.

This isn’t the first time the humanitarian organization has expressed interest in utilizing blockchain technology. In October of last year, UNICEF Ventures co-founder Chris Fabian said the company will not shy away from experimenting with the technology: “If we are in a place to look at designing our own token, look at others to help design theirs in a way that we can be a part of, and potentially also have a crypto-denominated investment fund, those would all be things that would be on our roadmap for the near future.”

“To participate in this operation, all you need to do is to install Claymore, a mining software,” the Game Chaingers website reads. “You will be able to start or stop mining when you want, and generate Ethereum right in UNICEF’s electronic wallet.” According to a spokesperson for the organization, running the mining program won’t cause users’ computers to consume more electricity. UNICEF will only borrow part of your processing power and only asks “for a punctual and brief participation.”

For those who want to contribute but lack the computing resources to do so, it’s easy to chip in with direct donations. UNICEF has posted the address of its Ethereum donation wallet on the official Game Chaingers website, which can be found here. Game Chaingers’ mining efforts will continue through March 31st.

The post “Game Chaingers”: UNICEF Accepts Donations via Cryptocurrency Mining appeared first on NewsBTC.

With NEO becoming such a popular cryptocurrency, it is only normal that people aren’t too sure which wallet to use. There are quite a few different offerings available in this regard. Below are some interesting ones to check out, even though there is a dire need for more mobile support. Right now, O3 is the only mobile option for both iOS and Android users.

4. NEO GUI

Even though a lot of people have a lot of love for web wallets these days, it is evident they are not the most secure solutions. Users who prefer to retain more control over their balances will want to look at the native NEO GUI wallet. It is pretty simple to use, works well, and lets users add a passphrase to protect their private keys. Using a desktop wallet does mean users will need to update the client manually and keep their computer safe from malware and hackers at all times. Still, the GUI wallet works just fine and has all of the basic functionality one would like to see.

3. O3 for iOS and Android

The NEO O3 Wallet for iOS has been available to users for over three months now. The code is also open sourced on GitHub, which allows anyone to check it out for themselves and ensure nothing malicious is going on. The iOS wallet also underwent an extensive beta test during which no funds were stolen or lost. It is currently only compatible with iOS 11 and later, by the look of things, which means owners of older Apple devices will have to look for other solutions. It is possible that situation will change in the future.

O3’s team also released an Android version of their wallet a little while ago. So far, it seems to have received some positive reviews, although there have been complaints from some users regarding small crashes. With Android being the most widely used mobile operating system in the world, it’s good to see support for NEO on this platform. So far, the Android version has under 5,000 installs, but that number will probably increase over time. Do keep in mind you will need Android 6.0 and higher to make use of this app.

2. NEON

Any self-respecting cryptocurrency has its own light wallet for users to make use of. Not everyone wants to download an entire blockchain, as most people just want a convenient and lightweight wallet solution. For NEO, that product comes in the form of NEON, which was developed for Windows, Mac OS, and Linux. It offers the basic functionality of any wallet, but without the need to synchronize with the blockchain by downloading it. This wallet’s code is also available on Github for additional transparency.

1. Ledger Nano S

A hardware wallet is always the best bet for any cryptocurrency. The Ledger Nano S has quickly become a favorite among cryptocurrency enthusiasts all over the world. It is relatively cheap, offers a lot of functionality, and supports the world’s top cryptocurrencies. As such, it’s not surprising to see this wallet support NEO as well. The wallet supports many different altcoins right now, and NEO support was added some time ago.

To ensure you can use NEO with your Ledger Nano S, the latter’s firmware will need to be upgraded to version 1.3.1. Once that is done, the Ledger Manager will display the NEO application. Once the hardware wallet is connected and the software installed, it will support this cryptocurrency natively. It is still necessary to use a compatible NEO client wallet in conjunction with the Ledger Nano S, though. Detailed instructions can be found on the Ledger website.

A cryptocurrency miner botnet has infected more than half a million machines, hijacking them to mine as much as $3.6 million worth of monero.

2 February 2018 London, UK – Next generation online casino based on blockchain technology and a single token economy is set to disrupt outdated online gambling industry. ZeroEdge.Bet is a unique blockchain based online gambling platform with 0% house edge casino games, commission-free sports betting exchange and an open-source platform for building and operating customized games for anyone who wish to have their own online casino.

Disclosure: This is a Sponsored Article

The main problem with online gambling industry today is that its purely profit-driven enterprise with marginal consideration for consequences of its practices.

The simple solution to the problem is creating a platform where playing games is “free”. Players are not required to pay any fixed amount of money to be able to play at the casino. This can only be achieved by creating a closed loop economy with its own token where players purchase the token with fiat or crypto. Since the supply of ZERO is limited, its value is directly proportional to demand.

The main difference that makes Zero Edge stand out from its competitors is that its business model is based on its token’s value growth rather than the cashflow generated from casino’s games.

The ultimate goal of Zero Edge.Bet  is to become a leading gambling platform in the global online gambling industry. Zero Edge will offer tools and infrastructure to parties who wish to build and operate their own games on the Zero Edge platform and help grow the ZeroEdge.Bet network.

The company will organize its early tokensale (pre-ICO) in February, when the public will be offered to purchase a limited supply of Zerocoins for a discounted price. To find more information about ZeroEdge.Bet visit https://tokensale.zeroedge.bet Join the official Telegram group to stay up to date and get involved (https://t.me/zeroedgecasino)

We have seen multiple allegations that cryptocurrency is in a bubble. Some experts even refer to this industry as being “worse than tulip mania”, even though that seems to be overstating things a bit. It was only a matter of time until we saw some tulip-oriented ICOs or blockchain projects pop up. After the Tulip ICO a few weeks ago, EtherTulips have now been born as well. It’s another copy of the CryptoKitties idea, although one that will probably get far less attention.

EtherTulips is Another Interesting Concept

Since most people seem to think cryptocurrencies are a variation of the tulip mania, it only makes sense to buy, sell, and trade tulips on the blockchain. In this particular case, we are talking about virtual tulips which can be traded on the Ethereum blockchain. It is important to distinguish between this project and the Tulip ICO, which is something else entirely. EtherTulips is a different spin on the infamous CryptoKitties project which essentially crippled the Ethereum blockchain for some time.

With this new project, anyone in the world can get in on the new virtual tulip mania. It is doubtful this project will raise as much money as people made during the 17th-century tulip bubble, but one never knows how things will play out in the world of virtual assets. Each individual EtherTulip will reside on the Ethereum blockchain at all times, where they can also be bought, traded, and even battled.

Additionally, every EtherTulip is completely unique, which means there can never be two of the same tulip. This does create a sense of “collecting different types”, even though it is evident these EtherTulips will not be worth much in a few months from now. After CryptoKitties and the virtual tanks game, we now have EtherTulips. It is only a matter of time until another one of these “games” comes to market. The business model seems to be working surprisingly well so far.

To adhere to tulip mania standards, the price of every EtherTulip will grow exponentially. Every day, these tulips will become nearly 50% more expensive than they were the day before. Early investors will win out as a result, assuming they can find someone else who wants to buy virtual tulips. At the time of writing, the marketplace to trade these EtherTulips was not yet completed, but it should only be a matter of days until that feature goes live. The battling system isn’t available yet either, but that isn’t entirely surprising.

With so many similar projects taking place right now, it is evident the creators of these platforms stand to make a lot of money. After all, they are the ones raking in the money until the marketplaces become available. One point that remains unclear is whether or not one can use their existing EtherTulips and “breed” new flowers over time. It doesn’t appear this is possible, but all similar projects have had such an option. Breeding new tulips would certainly make things a lot more interesting.

It is evident there is a growing market for projects such as EtherTulips. The one worry is that we’ve seen a lot of similar projects pop up in quick succession. It is only a matter of time until people get tired of these platforms, which could reflect badly on Ethereum as a whole. Moreover, these projects have a tendency of creating massive amounts of network transactions which subsequently flood the Ethereum network. Ideas like these are great, but they can also become an inconvenience.

Long Blockchain announced Friday that it was no longer pursuing a purchase of 1,000 AntMiners.

Between the waves of new crypto platforms we see every week and the innovation being released by existing platforms, the crypto industry is developing probably faster than any tech trend before it. But there is still a big gap between the maturity of existing financial markets and the crypto world.

Disclosure: This is a Sponsored Article

Exchange platforms are leading a lot of this innovation, which is not surprising considering how investment-focused most crypto users are. The exchanges are often the first and last points of contact between users and the market, making them the most fruitful areas for innovation.

KuCoin, an exchange platform that opened last year, has been working on innovative features that might make up the platform of the future. Among these are more advanced financial instruments and profit sharing.

Pairs trading

In terms of financial instruments, trading pairs are one of the most commonly used tools in conventional financial systems. But despite their relevance, trading pairs are used weakly in crypto markets. KuCoin want to change this, and have chosen to roll out the widest range of Bitcoin Cash (BCH) trading pairs of any platform.

As of two weeks ago, the the following trading pairs are available on the KuCoin exchange: BCH/KCS, BCH/ACT, BCH/XAS, BCH/UTK, BCH/DENT, BCH/DAT.

The idea behind trading pairs is as battle-tested as it is simple: take an asset you want to speculate on, and hedge against this position by picking another asset that is highly correlated with that asset so that you factor out as much “noise” in the market as possible.

In other words, if you bet that one stock is going to be outstanding, pick a similar stock to compare it to in order to single out the gains/losses unique to the target stock. This way the other price influences like market, sector, and economic volatility don’t have a bearing on your position.

How is this achieved? By short selling one of the pair and going long on the other. The difference between the two positions is what you lose or gain on the transaction.

KuCoin have a range of pair trades available they believe will develop the nascent crypto financial instrument market.

Income redistribution on an exchange

Considering how relevant economies of scale are in the tech world, exchanges can make this a part of their business model. Essentially this involves a greater number of users making the overall cost to participate lower.

KuCoin are using profit redistribution to tap into the concept of scale economics. The KuCoin token (KCS) allows the holder to get a share of the fees charged on the exchange simply by holding the token. Similar to treasury bonds, you are essentially buying stock in the platform and profiting from its growth.

KuCoin are hoping that their support of instruments like pair trading and their profit sharing dynamic will put them at the forefront of the next wave of exchanges.

One of the biggest expenses when it comes to mining Bitcoin is the price of electricity, to that end, a study has been done on what it will cost you to mine one BTC in different countries. #INFOGRAPHICS

We are closing in on the end of the European session in the bitcoin price and things have been pretty interesting today. We started out the session this morning by noting that action was relatively weak (in the sense that price was falling, and falling fast) and that this was primarily driven by a concurrent weakening of sentiment.

When things move like they have done recently, it can translate to a sort of downward spiral-type action that feeds itself – that is, price falling, people panicking, selling, price falling further because people are panic selling, etc.

Once this happens, there’s very little anyone can do other than sit out of the markets and wait for the sellers to shake out. The important thing is not to become a seller yourself.

Anyway, we’re all about the short term as far as out intraday analysis goes, so we’re going to try and focus on that right now and push the overarching momentum to the back of our minds.

So, with this in mind, let’s get some levels in place that we can use to carve out a profit from the market this evening, whichever way price moves.

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

As the chart shows, then, the range we are looking at for the session this evening comes in as defined by support to the downside at 8899 and resistance to the upside at 9095.

We’ll look at entering long on a close above resistance towards a target of 9250. Conversely, if we see price close below support, we’ll get in short towards a downside target of 8800.

Let’s see what happens.

Charts courtesy of Trading View

The post Bitcoin Price Watch; Near Term Reprieve? appeared first on NewsBTC.

Thailand’s Minister of Finance Secretary thinks crypto markets should be regulated, but that the benefits of Blockchain should be considered separately. #NEWS