Day: April 14, 2018

Depending on how one wants to look at things, the Bitcoin price bottom may have finally been established. Pantera Capital Management is convinced that things will improve from here on out, although it’s too early to say for sure. Even so, we’ve seen a nice Bitcoin price bounce on the charts, which is something a lot of speculators have been waiting for.

Pantera Capital Management is Bullish on Bitcoin

In a way, it is not entirely surprising to see an entity like Pantera Capital Management turn bullish on Bitcoin. This news comes at a crucial time for the cryptocurrency industry, as the Bitcoin price has been battered throughout most of 2018. With a net decline of 65% between December 2017 and early April 2018, it is evident bullish momentum is not on the horizon.

Even so, things always turn around in the world of cryptocurrency. Every single year, we see a steep decline in Bitcoin’s price, followed by several months of sideways trading, and ultimately a new all-time high in the long run. It seems the bottom has been locked in as of right now.

According to Pantera Capital Management, things will improve from here on out. They predict that $6,500 is the low for the Bitcoin bear market and that the future looks bright. In fact, the group is confident that this will remain the support level for the remainder of 2018 and even 2019. That is a rather optimistic outlook, although it remains to be seen if this holds true in the end.

Moreover, it seems Pantera is confident the Bitcoin price will return to its previous all-time high and surpass that level later this year. While that is certainly something all cryptocurrency investors would love to see, it remains highly unlikely things will head in that direction. If last year was any indication, there are some interesting trends waiting to take form in the coming months.

One could argue such a statement by Pantera Capital Management serves the company’s business. After all, their fund has over $800 million in various assets, with a very strong focus on Bitcoin and a few other top cryptocurrencies. Even so, CEO Dan Morehead is convinced there will be no other outcome for the industry, regardless of his company’s position within it. It will certainly be interesting to see how things play out in the near future.

For Bitcoin speculators, interesting times lie ahead. Either we will see massive gains in the coming eight months, or the Bitcoin price will dip to $5,000 or potentially lower. Anything and everything is possible in this industry, although the current trend seems to indicate that good things will continue to happen. It all depends on how much price manipulation we will have to contend with in the coming months.

Joel Robideaux, Mayor-President of Lafayette, Louisiana, announced yesterday that the city-parish government is considering creating its own digital currency and holding an accompanying initial coin offering (ICO). Doing so would position Lafayette to follow the lead of Berkeley, California, which earlier this year revealed plans to create a municipal bond-backed digital coin.

Lafayette’s Digital Currency

The digital currency proposal was the biggest news to come out of Robideaux’s annual address at the Heymann Center, where he described Lafayette as a “technological hub” — and one that needs to take advantage of this fact to help diversify the struggling local economy and improve government services. 

The Mayor-President hopes that cryptocurrency, which uses encryption techniques, runs on a distributed ledger (blockchain), and operates independently of a central bank, could be a new way of financing public works.

Robideaux, though, was vague, in detailing why Lafayette should consider a cryptocurrency specifically, other than the potential for it to help “develop solutions targeting government inefficiencies, and, more importantly, alternatives for financing public infrastructure.” 

Robideaux didn’t elaborate in his speech how, exactly, his proposal for a municipal cryptocurrency might work, or what might motivate investors to sink money into Lafayette’s coin.

“It’s not just a bunch of global libertarians that want unregulated, untraceable and secure digital currency transactions,” Robideaux said, referring to concerns that cryptocurrency can be used for money laundering or other nefarious purposes. “It’s the recognition of global stakeholders that the world of banking, finance and payment systems is forever changed, that the world of healthcare, government and possibly every other industry is about to be disrupted.”

ICO

Robideaux said he wants to use the proceeds from an ICO to “build a living lab of blockchain researchers and developers.” Though he did not explain what such a lab might consist of, how much it would cost, or where it might be located.

In keeping with his earlier comments about Lafayette being a technological hub, Robideaux asked residents to consider what concepts such as augmented reality, artificial intelligence, and machine learning systems could mean for local government.

These things, Robideaux said, could translate to solutions for better stormwater management, traffic lights that adjust in real time, and improved government transparency.

Berkeley, California

Berkeley, which has had more time to flesh out its proposal, is backing its currency with municipal bonds. The city plans to sell “crypto enabled microbonds” to raise money for affordable housing and other initiatives to help the homeless, according to Forbes.

Considering that cryptocurrencies are known for large price fluctuations, officials hope that this use of bonds will discourage the speculation that often leads to sudden spikes and dips.

The city’s plans were developed in attempts to establish more financial independence from the Trump administration.

Image Courtesy of Shutterstock

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The Bermuda Monetary Authority (BMA) claims that it is seeking to develop a comprehensive framework that would offer cryptocurrency businesses a safer and more stable environment through new proposed legislation.

The authority claims that by seeking public feedback on proposed anti-money laundering laws designed to regulate domestic cryptocurrency activity, it will better be able to develop this framework and environment.

According to a report by the Royal Gazette on Thursday, Bermuda’s minister of national security Wayne Caines believed the industry needed well-rounded regulation before it could flourish. He maintained that the BMA had 20 companies in London waiting to do business, commenting that “it’s actually phenomenal”.

In a paper released on Thursday, Bermuda’s financial regulator said the proposed legislation – the Virtual Currency Act – would call for cryptocurrency exchanges, wallet services and new coin offerings to collect and keep records of their customers. Regulation of ICO organizers would not be part of the act as the aim is not prohibition, but development, said legislators. ICOs would fall under separate legislation.

The Caribbean and Bitcoin

Caribbean governments and businesses are showing increasing interest in currencies like Bitcoin. In recent years, due to slow growth and high debt rates, major US banks have become more reticent about doing business in the region, frequently withdrawing capital from Caribbean markets. This has created a deficit of banking services inciting local banks to engage in illegal activities such as facilitating money laundering.

The sluggish economy and the tourist industry on which it mostly survives need a boost, and Bitcoin is proposed by some as a way of energizing it. The Caribbean Tourism Organization plans to introduce cryptocurrency payments for tourist services and integrate Caribbean economies in the region through the use of virtual currencies.

“Tourism is the largest single contributor to the Caribbean economy. It is absolutely critical to every single Caribbean nation’s well-being and development. We see this as a very natural and necessary association,” said Rawdon Adams, CEO of blockchain payment startup Bitt.

There is enthusiasm for new technology among several Caribbean economies through the adoption of cryptocurrencies as the Eastern Caribbean bank considers its own currency, the Digital Eastern Caribbean Dollar (DXCD), with eight governments and economies behind the project.

It is unclear if Bermuda would be able to sign up for the region’s digital currency as it is not officially listed as a Caribbean island due to its location in the Sargasso Sea.

The post Bermuda Pushes Ahead to Promote Cryptocurrency Growth appeared first on BitcoinNews.com.

While Bitcoin may be a “bubble,” it may not “burst” and be gone “forever,” says Nobel Prize winning economist Robert Shiller. #NEWS

Even though Facebook is taking an aggressive stance toward cryptocurrencies and ICOs, news feeds are still clogged up with related content. For users who want to get rid of most of the shilling on social media, the Social Fixer tool is certainly worth checking out. It doesn’t just apply to cryptocurrency content either, as users can hide posts containing specific content.

Social Fixer is a Godsend

Anyone who uses Facebook – seemingly fewer people compared to two years ago – will have noticed that getting involved with cryptocurrencies can fill up one’s news feed with a lot of content. This does not just apply to news articles, but also to a lot of shilling by members of specific cryptocurrency-related groups on the platform. Facebook is home to a lot of crypto enthusiasts, although not all of the content being spread is worth paying attention to.

With the Social Fixer solution, users now have a creative – and legal – way to deal with all of the cryptocurrency shilling. This tool lets users filter posts containing specific words or sentences, and ensures the information doesn’t show up in one’s feed. It is a far better solution than leaving cryptocurrency groups altogether or scrolling past dozens of messages hyping up a particular currency no one really cares about.

As this screenshot shows, there is a fair amount of hate for specific cryptocurrencies. This is especially true where Ripple is concerned, although it seems Verge is not scoring too many brownie points either. While this is just one user labeling these currencies as “shitcoins”, Facebook users can customize the Social Fixer plugin to their heart’s desire.

What makes this particular plugin so intriguing is that it can be used to curate any type of content from Facebook. It has become more than apparent that the social media giant wants to force specific content on its users, mainly for advertising reasons. It is certainly possible that Social Fixer will get rid of most of that content as well, which will allow for a more customized Facebook feed.

This approach is far more favorable compared to the harsh action Facebook itself has taken. The company wants to get rid of any advertisement related to cryptocurrency and blockchain technology, but individual groups are still allowed to exist. With all of the shilling taking place in those groups, it is only normal that people will look for ways to filter out that content. Reporting such spam is still advised, although it may force the company to crack down on cryptocurrency content even further.

Whether or not this will lead to far better content sharing on Facebook remains to be seen. If the shilling posts turn out to be less successful than before, people will find different ways to spread their message. Facebook has a responsibility in all of this as well, as the social media giant has to keep its users safe from misleading and false information.

Indian exchange platform Coinsecure suffered the worst cryptocurrency theft in the country’s history this week, with 438 Bitcoins syphoned out of user accounts into an address outside of the platform’s control. This was the equivalent of approximately USD 3.5 million.

The International Business Times reported that the theft came to light when users began complaining they could not access their funds over several days. The Coinsecure website issued an official notice on 12 April, assuring users that a First Information Report (FIR) with the Cyber Cell of Delhi had been filed and that they were working to recover all of the lost funds.

The notice outlined details of the apparent hack, noting that it appeared to occur when its chief security officer (CSO), Dr Amitabh Saxena, was extracting Bitcoin Gold. Dr Saxena claimed that the funds were ”lost in the process during the extraction of the private keys”.

Suspicious circumstances

As it is only the CEO and the CSO that maintain access to the private keys of the company’s wallet., this makes the circumstances behind the extraction particularly suspicious, leading the exchange to believe that the CSO created the story to cover up his own theft.

The FIR outlines their accusation, stating, ”The incident reported by Dr Amitabh Saxena does not seem convincing to us. The exchange in the FIR requested the authority to seize Dr Amitabh Saxena’s passport so he cannot fly out of the country.”

A second update on the Coinsecure website assured users that their Indian Rupee (INR) funds were safe, calling on members of the Bitcoin community for any information that could help secure the return of funds.

Crypto fraud in India

The last few months have seen several cases of similar fraudulent behavior in India. The founder of cryptocurrency investment fund Gainbitcoin was arrested earlier this month for allegedly scamming victims out of USD 300 million. The year to date has seen USD 670 million worth of cryptocurrencies stolen through fraudulent activities.

Investors are encouraged to put in research before parting with funds to protect themselves from such scams. It is important to ensure that platforms used are secure, with KYC policies being preferable. Due to the decentralized nature of cryptocurrency trading, it is often very difficult to recover stolen funds.

The post Coinsecure Loses $3.5 Million in Bitcoin in Suspected Hack appeared first on BitcoinNews.com.

OKEx is the latest cryptocurrency company to plan a European expansion. There are plenty of reasons as to why cryptocurrency firms are moving to this particular continent, as local regulatory efforts have made it a lot easier for enterprises to set up offices there. For OKEx, the country of interest is Malta, which has attracted a fair few firms in the past few months.

OKEx Plans an Overseas Expansion

Similar to any other business, any company involved in either blockchain tech or cryptocurrency needs to keep evolving and expanding. As of right now, OKEx is doing exactly that, as the company is looking to set up shop in Malta. This move is anything but surprising, as we have seen other firms make similar moves in the past four months. Malta is a European country with very crypto-friendly regulations in place.

For OKEx, the decision to expand to Malta simply makes a lot of sense. The company has met with the country’s government and regulators to discuss this development and gain a better understanding of the island nation’s legislative and regulatory plans. So far, it seems the requirements and expectations are agreeable to all parties involved.

Additionally, OKEx provided written feedback regarding the current regulatory landscape. Afterward, company officials took part in an open dialogue to confirm that the Maltese government would maintain its pro-cryptocurrency mindset in the future. Based on all of that information, it seems clear that Malta wants to further position itself as a major blockchain and cryptocurrency hub.

OKEx CEO Chris Lee commented on this development as follows:

We look forward to working with the Malta government as it is forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.

It is clear for everyone to see that Malta is one of the few open-minded European nations when it comes to cryptocurrency and blockchain technology. Its regulators are actively building a supportive environment, as well as the technical infrastructure necessary for both industries to thrive. With companies being able to obtain legal certainty from the government directly, we will surely see more of these developments in the near future.

How all of this will affect other European countries remains to be seen. Other than Malta, it seems only Switzerland and Gibraltar are trying to make a positive impact on these industries. For some reason, the rest of Europe still remains on the fence about both blockchain technology and cryptocurrency, even though it is evident the entire continent can benefit from these industries with proper regulatory guidance.

Bitcoin Press Release – Cryptagio exchange has officially announced its launch with the support of 7 demanded cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), EOS (EOS), Tron (TRX), VeChain (VEN), OmiseGo (OMG), and Icon (ICX). Within the first month, new users are welcome to try out the exchange’s features with 0% trading fee, as well as receive bonuses in Cryptagio Tokens (CPG).

April 10th, Tallinn, Estonia —  Cryptagio incorporates incomparably fast trading mechanisms, distinctively clear, user-friendly interface, multi-factor security system, and responsive 24/7 support infrastructure. Through acceleration of the exchange process, high liquidity, and easy-to-use API, the exchange will meet the needs of beginners and experienced crypto holders.

Cryptagio’s CEO Sergii Vasylchuk said;

“We are committed to ensure a perfectly functional and consistently stable trading environment, allowing our users to create and develop much potent crypto portfolios in a strikingly fast, easy and safe way.”

The newly registered users will be able to trade for free during their first month. Every next month they will be charged a 0-0.25% trading fee, depending on volumes traded. Withdrawal fees basically cover only mining fees and, therefore, are the lowest on the market. The deposit fee will be fixed at 0%.

To bring more value to its users, Cryptagio has designed their own token. Unlike many others, Cryptagio token (CPG) was created with a single purpose of providing beneficial terms and gainful experiences within the platform. New users will gain bonuses for trading in CPG tokens, which can be later used to get a 50% discount on trading fee, or exchanged for other cryptocurrencies.

The platform was built in response to the rapidly growing demand for the most potent cryptocurrencies on today’s market. Cryptagio will start as a crypto-only exchange, initially supporting 7 digital assets, with the aim to add more in the nearest future. The platform is also going to introduce additional useful features, such as mobile app, support of fiat, FIX API, margin trading, PAMM, etc.

About Cryptagio

Introducing an advanced platform with comprehensive infrastructure that could precisely accommodate the cryptocurrency market needs was our primary objective. Though the platform development started in the second half of 2017, it has been rapidly evolving ever since.

Today, due to the team effort, Cryptagio delivers fully-functional, exceptionally fast and responsive trading mechanism, built to ensure instant matching of the placed orders as well as timely communication of the updates. Our support infrastructure, designed to help users resolve any issues in no time, demonstrates efficiency, towering above competition.

To learn more visit the Website: https://cryptagio.com/

Read more on our Medium page – https://medium.com/@cryptagio
Connect on Linkedin: https://www.linkedin.com/company/cryptagio/
Follow on Facebook: https://www.facebook.com/cryptagio

Media Contact
Contact Name: Vladyslav Makarov
Contact Email: [email protected]

Cryptagio is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz -Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 5 years. Get your own professional Bitcoin Press Release. Click here for more information about Bitcoin PR

The post PR: Cryptagio Exchange Launches with 0% Trading Fee and Bonuses in Tokens appeared first on BitcoinNews.com.

European countries have shown a keen interest in cryptocurrency and blockchain technology as of late. Gibraltar is keen to position itself as a forerunner in this regard, although it will not be easy to do so. The Gibraltar Blockchain Exchange is trying to make a positive impact in this area.

Gibraltar has Bold Plans for Crypto and Blockchain

No one will deny that Europe is currently a hotbed for cryptocurrency and blockchain activity. Various countries are welcoming companies in these industries with open arms. Both Malta and Switzerland have made a lot of positive headlines in this regard. Binance recently set up shop in Malta, whereas Bitmain has embraced Switzerland as their new favorite European country.

Positive regulation will allow these industries to thrive in the months and years to come. It now seems Gibraltar is preparing to make another big impact in this regard. Although the country has been pretty open-minded toward cryptocurrencies for quite some time now, there is always room for improvement. The Gibraltar Blockchain Exchange is just one example of how things can be improved in the future.

More specifically, this subsidiary of the Gibraltar Stock Exchange wants to become the first regulated and licensed token sale platform and digital asset exchange operated by an EU-regulated stock exchange. This will bring a lot more legitimacy to the GBX itself, as well as bring positive attention to both cryptocurrencies and blockchain technology in the coming years.

What makes the Gibraltar Blockchain Exchange so appealing is that it benefits from the small nation’s dynamic and coordinated regulatory framework. An official DLT Regulatory Framework went into effect in January of this year. Any firm in Gibraltar using this technology to store and transmit value is regulated in the country by default. This further cements Gibraltar’s role in the world of blockchain technology.

Now that the Gibraltar Blockchain Exchange is also focusing its attention on cryptocurrency, interesting things are bound to happen. For now, the GBX will continue to work with industry experts, regulators, and significant stakeholders. With Gibraltar positioning itself as a positive trendsetter in this regard, other European countries will have to follow its lead.

Tim Draper’s prediction for BTC to hit $250,000 in 2022 is backed up by CNBC Fast Money’s Brian Kelly. #NEWS

A new Blockchain platform wants to prevent energy shortages by stopping imbalances between supply and demand #SPONSORED

American venture capital investor Tim Draper, an early backer of Tesla, Skype, and SpaceX, is one of the most high-profile Bitcoin investors. With absolute confidence that bitcoin is the future currency, Draper announced that he predicts the bitcoin price will reach $250,000 by 2022.

Tim Draper Predicts Bitcoin at $250,000 By 2022

Tim Draper has thrown a cryptocurrency celebration on Thursday, called Blockparty, not to be confused with British indie rock band Bloc Party. The party poster, which was placed in front of his entrepreneurship program, Draper University, made a bold statement: “Tim Draper Predicts Bitcoin @ 250K By 2022”.

The billionaire investor has bought 30,000 Bitcoin in a US Marshals auction in 2014. That amount of cryptocurrency is currently worth about $240 million. If his prediction turns out to be correct, Tim Draper can expect his Bitcoin portfolio to be valued at $7.5 billion by 2022. Draper has said that he will never sell it in exchange for fiat money: “That’s like saying I’m going to take the present and future and turn it into the past. I’m not an antique buyer”, he told documentarian Sharad Kharé in a recent interview.

He announced on Twitter the bold prediction, but a typo jittered his social media following: “Serious winds (of change) at our block (chain) party last night. Predicting bitcoin at $25k by 2022”, he first wrote before correcting the number by adding an extra zero to the future bitcoin price. “Oops! I predicted $250k in 2022. My tweet last night was missing a zero. $250k is the number!”

This is a typo!!!! pic.twitter.com/4PlGuME57U

— Al Solano (@GetRichOrDie) April 13, 2018

Oops! I predicted $250k in 2022. My tweet last night was missing a zero. $250k is the number!

— Tim Draper (@TimDraper) April 13, 2018

Tim Draper did not disclose the method he used to calculate his forecast of $250,000 by 2022. A “somewhat” close number was provided by Horizon Kinetics’ Murray Stahl, who argued that Bitcoin could be worth the value of all the currency in the world because fiat money can be “debased”, but there will be only 21 million Bitcoins ever made. This would amount to approximately $361,000 per Bitcoin, according to Barron’s estimate that the cumulative value of the world’s coins and banknotes is $7.6 trillion. 

In the abovementioned interview with Sharad Kharé, Draper said he expects that, in five years, whoever tries to pay in fiat currency will be laughed at. This adds to his 2022 prediction. A world that will laugh at someone trying to pay in fiat currency is a world where Bitcoin is very likely established as the ultimate value investment. It might be hard to imagine such a revolutionary change within the next four to five years, but Tim Draper clearly does. The same way he imagined Tesla, Skype, and SpaceX, to be an invaluable part of our future.

The post Experts Expect Bitcoin Price to Hit $250,000 by 2022, Here’s Why appeared first on NewsBTC.