Day: March 16, 2018

The “2018 Economic Report for the President” has recently been published with a whole chapter dedicated to cryptocurrencies like bitcoin, ethereum, and the future of blockchain regulation.

Also Read: Coinbase Granted E-Money License by UK’s Financial Conduct Authority

New Innovations and Markets Presents America’s Regulatory and Legislative Institutions With Unique Challenges

Every year the U.S. Congress publishes an economic report that discusses a variety of subjects that affect the economy such as technology, opioid abuse, employment rates, and the stock market. This year’s “2018 Economic Report” features a whole chapter focused on bitcoin, initial coin offerings (ICOs), and blockchain technology. Chapter nine is called, “Building a secure future, one blockchain at a time.” The congressional study takes note that last year cryptocurrencies had entered a mainstream awareness phase.       

“Blockchain technology — providing cybersecurity and many other potential benefits—broke into the mainstream in 2017 driven by widespread interest and surging valuations in digital currencies such as bitcoin and ethereum,” explains the report.

These new innovations and markets presented America’s regulatory and legislative institutions with unique challenges as well as technology that could revolutionize the world’s digital landscape and economy.

The Study Compares Cryptocurrencies to the Internet

The economic study is meant to use analysis and create conclusions in order to assist individual government committees and Congress. Chapter nine calls 2017 “The Year of Cryptocurrencies,” and the technology’s phenomenal rise is considered a significant economic event that stands out to the report’s researchers. The study also emphasizes how well traditional stocks did last year, but they did not compare to digital asset markets.        

“While both stock market measures experienced strong growth, cryptocurrencies dwarfed their performance,” explains the government research.

The buzz surrounding digital currencies resembles the internet excitement in the late 1990s when people recognized technology companies could change the world — Many internet companies launched and their valuations took off in short order — Many failed, but a few succeeded spectacularly and challenged the conventional ways of doing business.

Regulations Must Curtail Crypto-Growing Pains and Misuses

Of course, the report details that control is needed for these nascent technologies. It also highlights the possibility of fraud within the ICO market but recognizes how well the crowdfunding solution performed last year. Further, the paper explains how there has never been any evidence of anyone “hacking a blockchain’s underlying protocol, but digital currencies are still vulnerable to theft.” The report details that U.S. officials must combine efforts to combat “growing pains and misuses.”

“Policymakers, regulators, and entrepreneurs should continue to work together to ensure developers can deploy these new blockchain technologies quickly and in a manner that protects Americans from fraud, theft, and abuse, while ensuring compliance with relevant regulations,” the 2018 economic report researchers conclude.

What do you think about the U.S. government’s 2018 Economic Report dedicating a whole chapter towards bitcoin, and blockchain technology? Let us know what you think about this subject in the comments below.

Images via Shutterstock, and the 2018 Economic Report. 

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

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Be it a brief altcoins recovery or not, this is exactly what the cryptocurrency market needs. From Lumens, NEO, LTC, Monero and even EOS, there is reliever and a pause of this relentless bear pressure.

Our focus today goes to Lumens and while it is generally bearish, the response at $0.20 or the 78.6% Fibonacci retracement level has been awesome.

Let’s have a look at these charts:

XLM/USD (Lumens)

While there is obvious reaction at around $0.20, Lumens swing sellers can literally pull off their short plug and what for a rebound of prices. Referring to yesterday’s forecast, our sell zone is set at or around recent highs of $0.30.

If prices do react and strong bear candlestick prints in the direction of the bearish break out pattern clear in the weekly chart then we can proceed with our previous projection and load shorts.

Otherwise, as we can see, $0.20 is important and being the 78.6% Fibonacci retracement level anchoring on this digital asset’s high low. I mean, with the accumulation and higher highs relative to the lower BB as visible in the 4HR chart, this level can as well be a perfect bull spring board.

However, before we draw conclusions, let’s wait and see what price action has.

XMR/USD (Monero)

According to our forecast, Monero is in a bear trend but with recent bullish development in lower time frames, sellers can as well stop shorting at-least for a couple of days.

In the 4HR chart, we can see some nice recovery in prices and with that stochastic buy signal and higher highs testing the middle BB and aiming towards $230, buyers might be angling to reverse recent losses.

But, here’s the thing. The rapid bear surge in the weekly chart means sellers will find favorable opportunities to short with every stochastics sell signal in the 4HR chart.

Those sell zones can be anywhere around $260-our immediate resistance level and the middle BB in the weekly chart according to our recent trade plan.

At the moment though, swing buyers can buy at $220 with safe stops at $200 and aim for $260.

EOS/USD (EOS)

While EOS prices are on a short term uptrend, let’s not forget that the general trend in higher time frame is mainly bearish. But nothing’s fixed. Price action changes all the time.

As such, over the short term, EOS bulls can begin looking for long openings in lower time frames and it would be preferable to go long whenever a stochastic buy signal prints.

At the moment, bulls are testing the middle BB. If they break and close above it now that a strong bullish candlestick is clear, we can trade a minor bull break out with targets at $5.8 and $6.2 respectively.

Further appreciation above $6.2 cancels this projection as it means presence of a stochastic buy signal in the daily chart. Tangentially, that could possibly signal shift of momentum despite surging bears.

LTC/USD (LTC)

It is likely that LTC prices are turning the corner and even though we are naturally pessimistic about this recovery, taking risks can either lead to more profits or a whopping. After all, that has been the routine in recent days and I prefer the latter.

Therefore, I will recommend buying LTC before the end of the week. Traders can wait for a break above the resistance trend line in the 4HR chart-refer the above attachment-or trade as it is.

Already, if today ends up bullish, a double bar reversal bar and its confirmation would be complete in the daily chart. In that case, stops should be at $150 with targets at this March’s highs of $230 assuming prices blast past $200.

NEO/USD (NEO)

As per our previous trade plan, we are still neutral on this pair unless of course there is a strong break out past $75 or the middle BB in the 4HR chart.

Considering price action, chances are that might happen now that there is a bullish engulfing candlestick after periods of brief accumulation.

Aggressive traders can trade with this increasing momentum, buy and place their stops below yesterday’s lows at around $60 on the safe side.

All BitFinex, Bittrex and CoinBase charts courtesy of Trading View

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On March 15 the post-cable network Cheddar announced it will be broadcasting a thirty-minute show about cryptocurrencies called ‘Crypto Craze.’ The show will explore investment strategies for digital assets like bitcoin, litecoin, and ethereum.

Also read: South Korea Planning to Formally Allow ICOs

Online Stock Brokerage Firm Sponsors a TV Show Called ‘Crypto Craze’

The online trading platform that offers custom equities, options and bitcoin futures, Tradestation, has announced they are sponsoring a new television show about cryptocurrencies. The show called ‘Crypto Craze’ will air every Thursday morning between 10:30 am to 11:00 am ET from the floor of the New York Stock Exchange. Tradestation and the cable network Cheddar believe the prices of digital assets like bitcoin and ethereum have attracted a lot of interest. The new ‘Crypto Craze’ broadcast hopes to entice millennial investors who represent a good portion of Cheddar’s target audience.

“We’re excited to sponsor Cheddar’s new ‘Crypto Craze’ show,” explained John Bartleman, President of Tradestation during the announcement. “Tradestation has been at the forefront in offering our customers the ability to trade Bitcoin futures on the CFE and CME exchanges.”

Cheddar CEO Says Crypto Craze Will Cut Through the Noise

Besides cryptocurrency analysis and investment talk, the show will also dive into the realm of initial coin offerings (ICOs), mining, and the regulatory climate. “’Crypto Craze’ will examine all things crypto,” the show’s creators state. The show will be Tradestations second broadcast as they also sponsor ‘The Long and the Short’ a show about stock trading.

“The ‘Crypto Craze’ is real and it’s here to stay,” explains Jon Steinberg, founder, and CEO of the cable network. “Cheddar’s new show will give viewers real-time metrics with in-depth analysis of cryptocurrency, blockchain technology, regulation and initial coin offerings.”

It won’t be the old guard telling you about a phenomenon they don’t understand. The ‘Crypto Craze’ cuts through the noise and tells you what matters in the world of cryptocurrency.

Other shows on the financial news network Cheddar feature politics, cannabis, technology, and business. The network has broadcasts daily from the NYSE floor, Nasdaq, and the White House in Washington DC. According to the company the network garnered 148 million views in August of 2017 across all its platforms.

What do you think about a show that covers 30 minutes of trading analysis and news on television? Let us know what you think about this show in the comments below.

Images via Pixabay, Cheddar, and NYSE. 

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history. Bitcoin is a decentralized digital currency that enables near-instant, low-cost payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network. Read all about it at wiki.Bitcoin.com.

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The 2018 Joint Economic Report from the US Congress contains recommendations for agencies to boost efficiency and security with the Blockchain. #NEWS

Bitcoin is both the most-widely used crypto-currency in the world and the probably most misunderstood. Ask a person on the street about it and they will either claim to love it, hate it, or know nothing about it.

Most people, however, will tell you one of the many half-truths they’ve heard about Bitcoins from either the mainstream media or a friend. Because this currency is gaining in importance around the world, it is about time we debunked common Bitcoin myths.

1) Bitcoins Have No Value

To some people, cryptocurrencies are just another fading fad that has no intrinsic value. Such views result mostly from an unawareness of the benefits and wide acceptance of Bitcoins. They probably compare the Bitcoin with the dollar that is more widely accepted. Despite the dollar’s wide acceptance, Bitcoins do everything it can do – maybe more.

As the demand for the dollar fades around the world, that of the Bitcoin is, in fact, rising.

2) Nothing Backs the Bitcoin

This myth stems from the assumption that the Bitcoin is different from other world currencies, such as the Dollar or Euro. It is not. Like major currencies, Bitcoins are backed by the laws of demand and supply.

Anyway, the last time the Dollar was backed by any physical thing of value was in 1970, when it was under the traditional Gold Standard. In 1971, it moved from the standard for good.

3) Bitcoin Mining is not Eco-friendly.

An article in the Bloomberg Magazine recently claimed that Bitcoin mining leaves a large carbon footprint. The article asserted that the complexities of mining use more processing power from giant server farms. These farms, in turn, consume a vast amount of electricity.

Proponents of Bitcoin mining, such as the mining company Genesis Mining, cite the advantages of the crypto-currency as a trade-off. To them, the virtual value created by practice off-sets any real-world value it uses. They also claim that the amount of energy consumed by Bitcoin mining is less than that consumed by industries associated with the printing and distribution of hard currency.

4) Bitcoin is the Currency of Choice for Cyber-Criminals

Criminals use many forms of payment to finance their illegal activities. However, the anonymous nature of a crypto-currency makes it particularly attractive and open to abuse by criminal elements in society.

That some elements, such as the now-closed Silk Road website, prefer Bitcoins should not be an indictment of the currency as a whole. Keep in mind that it is the criminal activity that is illegal, not the currency.

5) Bitcoins are Not Secure

Militaries, governments, and banks all over the world use cryptography to secure their data, as does Bitcoin. The cryptography used by the Bitcoin Blockchain is so secure that it is yet to be breached seven years into its history.  You can find out more about the security of cryptocurrency on the popular website Unblock.

Conclusion

Of the many erroneous views about Bitcoin flying about, these five are the most common and persistent. None of them are true.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Popular TV shows may do Bitcoin and Blockchain a disservice with their skeptical views, but make the crypto community laugh. #PANORAMA

The American libertarian and anti-war political activist, Adam Kokesh, is running for the 59th quadrennial U.S. presidential election in 2020. Kokesh says his platform is simple, because as soon as he is elected, he plans to sign one executive order to dissolve the entire federal government. In order to spread his message, Kokesh is raising money to deliver a copy of his 2014 book ‘Freedom!’ in every single residential mailbox in New Orleans right before the Libertarian National Convention.

Also Read: Coinbase Launches Cryptocurrency Trading Tax Calculator

The Book Bomb: ‘Dissolving the Federal Government in a Peaceful, Orderly Manner’

Adam Kokesh is running for president of the United States during the 2020 election cycle. In contrast to the variety of bureaucrats running for office who plan to make government bigger, Kokesh intends to end the federal government in its entirety. His platform is a mix between Dr. Ron Paul and Vermin Supreme, two candidates who ran for president during multiple elections. In order to get his message out, Kokesh plans to raise funds ($143,000 USD) to print and deliver copies of his book ‘Freedom!’ to every mailbox in the New Orleans region. Kokesh says he hopes to deliver roughly 205,000 copies just before the Libertarian Party’s National Convention. The promotion called “Operation Big Easy Book Bomb” was announced on March 15.  

The fundraising will be completely transparent and all funds earned will be documented on Steemit and other platforms. The book will also include a letter describing the Kokesh platform for 2020.  

“The platform is simple — When elected, I will swear in, walk to the White House, and sign one executive order — This executive order will lay out the process for dissolving the federal government in a peaceful, orderly manner,” explains Kokesh.  

With it, I will be resigning as President to become “Custodian of the Federal Government.” The executive order will appoint heads of each federal department, or “Custodians” who will be instructed to carry out a mostly predetermined plan for their departments — The only authority that I will retain will be to replace Custodians if they are unable to complete their responsibilities or are not faithfully executing the plan.

Fueled by Crypto

Fans of the Kokesh campaign and the upcoming “Book Bomb” can donate using Paypal, but much of the Kokesh electoral funding is “fueled by crypto.” For the Book Bomb fundraising, Kokesh is accepting payments in bitcoin cash, dash, ethereum, bitcoin core, litecoin, and monero. Further, the plan for Kokesh to distribute the books has also been bolstered by organizations such as Steemit, Dash, Bitcoin.com, and the Libertarian Party.

“When I was in jail for civil disobedience and surrounded by all the great libertarian books that friends had sent me, I realized that we needed one ultimate conversion tool — So I combined all of their best features into one, easy-to-read, 100-page proclamation of ‘Freedom!’,” Kokesh emphasizes.  

The fundraising begins today, and the closing date will be March 25, 2018. Kokesh has added three types of sponsorships for the book drive which includes the ‘Historic Sponsorship’ ($3K or more), Millennial Sponsorship ($700), and the Centennial Sponsorship ($70). All of the funds will go towards the New Orleans ‘Book Bomb’ and any funds not used will be directed towards the next city.

You can read more about “Operation Big Easy Book Bomb” here. 

What do you think about Adam Kokesh running for president of the United States? What do you think about his ‘Book Bomb’ idea? Let us know in the comments below.

Disclaimer: Bitcoin.com is a supporter of the Adam Kokesh ‘Book Bomb’ alongside organizations like Dash.org, Steemit.com, and the Libertarian Party.

Images via Pixabay, Steemit, Adam Kokesh 2020, and the book Freedom!

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

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The SEC has confirmed that it is working on 12 probes into crypto business. #NEWS

Cryptojacking – normally a foe, but sometimes your friend. CT delves into the questionable ethics behind the takeover of your computer’s processing power to mine crypto. #IN_DEPTH

One of the top executive’s at global payments processing company Visa has absolutely slammed cryptocurrency and its users. Speaking with the Financial Times, Vasant Prabhu sees Bitcoin and other digital currencies as a tool used by “every crook and dirty politician” around.

Talking Sense, or Talking Scared?

Prabhu told the publication that he’s getting asked more and more about cryptocurrency. This to him signals that the whole space is nothing more than a giant speculative bubble. The Visa executive spoke of his interactions with various retail-investors. He said they were “a real shock” to him:

“The people asking me are the ones who scare the hell out of me… You know, guys like the limo driver to the airport . . . They have no idea what they are doing.”

Evidently, these would-be crypto investors don’t really know what they’re doing. Why anyone would take investment advice from the chief financial officer of a company who has the most to lose from a successful cryptocurrency revolution  is unclear.

It kind of feels similar to asking a turkey what they think of Christmas, or a horse breeder in the 1890s if they’d heard about these “motor cars” everyone’s talking about.

Visa current operates at the centre of the global payments network. They profit greatly from the system. Meanwhile, cryptocurrency is a direct threat to the status quo of the planet’s financial services industry. We therefore shouldn’t be surprised when the likes of Prabhu spout anti-cryptocurrency sentiment at every available opportunity.

The Visa executive hadn’t finished lambasting cryptocurrency just yet though. He recounted hearing non-financial people talking about investing in Bitcoin. This to him was a telling sign of things to come:

“This is the ultimate thing that you hear about when you have a bubble, when the guy shining your shoes tells you what stock to buy.”

What Vasant Prabhu, Jamie Dimon, and the rest of their legacy payment industry chums fail to recognise is that historical paradigm shifts frequently begin with a speculative mania. Cryptocurrency seems to be following that trend perfectly too.

Such transformative technologies begin with everyone but the enlightened core claiming they’re dangerous or stupid. Like how people said the internet would only be used for child porn and other nefarious uses back in 1994. Eventually the narrative changes and the masses get excited. This leads to a speculative bubble that inevitably bursts – just like the dot-com bubble around the turn of the century.

Eventually, all the ridiculous and over-hyped projects crash to zero. This leaves the truly revolutionary ideas standing, gaining value through their utility rather than simply wild speculation. Examples like Amazon, eBay, and Facebook highlight this. We don’t need to tell you that these companies are some of the largest financial powerhouses on the planet today.

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Is the death cross on the horizon? 🤔 #PRICE_ANALYSIS

The Slovenian city of Kranj has inaugurated what it claims to be the world’s first public Bitcoin monument. A roundabout in Slovenia’s fourth largest city now hosts a large ‘B’ in the center that connects two roads at Kranj’s city center.

Also Read: Soon There Will Be More Bitcoin Investors Than Stock Traders in Indonesia

Slovenian Roundabout Becomes Tribute to Bitcoin

The Slovenian city of Kranj recently unveiled a public monument to bitcoin and blockchain technology, of which it claims is the first in the world. The monument was financed by major bitcoin exchange Bitstamp, and blockchain software company 3fs.

The three-tonne metal sculpture is situated near Kranj’s courthouse, approximately 20 miles from the city’s capital. The circle surrounding the bitcoin ‘B’ has a diameter of roughly seven meters. The statue was created by artists Selman Čorović and Aleksander Frančeškin.

The mayor of Kranj, Bostjan Trilar, told reporters that the bitcoin ‘B’ was chosen as the design for the monument by the cities citizenry, stating “We asked citizens on our Facebook page to decide what to place in the new roundabout and this was one of the first ideas we received… Kranj has a lot of companies dealing with high technology.” Mayor Trilar added that many of the city’s inhabitants are “tightly connected to modern technology companies, some of them have been successful precisely with the blockchain technology and we thought it was right to honor them.”

Slovenia to Create Favourable Business Climate for Blockchain and Crypto Companies

In a press release, the Kranj municipality stated: “We’re sending a message to the world that emphasizes our openness to digitization, susceptibility to the use of new technologies and hospitality towards progressive thinking.”

Last month, Slovenian officials promised to work alongside local companies operating in the distributed ledger technology sector in order to “educate the public on the benefits and the opportunities that the innovative technology brings.”

Following a recent meeting hosted by Viberate that was attended by Slovenian prime minister, Miro Cerar, distributed ledger technology (DLT)-based start-up Insurepal published a blog post indicating the government’s desire to create a “favorable” business climate for DLT businesses. “We have called for regulation that would assist blockchain projects with existing financial limitations and allow us easier recruitment processes. The government has agreed that it will provide us with more favorable conditions in due time,” the company stated.

What do you think of Kranj’s new bitcoin monument? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, Reddit

Want to create your own secure cold storage paper wallet? Check our tools section.

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Coca-Cola and the US State Department are building a blockchain platform to fight forced labor conditions worldwide. #NEWS