Day: April 17, 2018

Don’t fall for “crypto-euphoria” but look at “potential benefits,” says IMF chief Lagarde. #NEWS

The technical charts remain bullish for bitcoin and point to $7,900 as the key support zone.

Cryptocurrency payments are going to be trialed in one of Europe’s biggest shopping malls within days #SPONSORED

South Korea’s third-largest cryptocurrency exchange, Coinone, has set up in Indonesia bucking the trend of exchanges either branching out or going under in the hard knocks market.

Coinone Goes Global in Jakarta

South Korea was one of the bellwethers of the cryptocurrency market last year with one in five bitcoin transactions being handled in KRW even though it traded at a 20% plus premium.  Today though despite it still being one of the largest spaces in the market, severe regulatory practices have reduced trading to only 5 -10%  of what it was in January.

According to Business Korea the squeeze on the market since January highs has caused some Korean exchanges to either expand their service base or shutter their shops. Coinone, Korea’s third largest exchange, has decided to pack up and go overseas. The company announced that on April 16 Coinone Indonesia was entering the global cryptocurrency market. Based in Jakarta the company has submitted its preliminary registration and plans to start providing services to registrants from the end of May.

Coinone announced on April 16 that the company has made its entry into the global cryptocurrency market, establishing “Coinone Indonesia” in Jakarta. After the first preliminary registration from this date it plans to launch the service to registrants by the end of next month. Trading will be made available in 6 cryptocurrencies initially; Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and Qtum.

With a population of 260 million Indonesia has the largest population in Southeast Asia and, according to a previous report on NewsBTC , INDODAX – the largest Indonesian cryptocurrency exchange which is set to overtake the Indonesian Stock Exchange in investor numbers.

Indonesia Struggles With its Own Regulatory Problems

Despite the diminished trading volume in South Korea since January, a re-launch in Indonesia which is experiencing its own regulatory growing pains is a bold move for any exchange looking to expand into the global market.

Bank Indonesia announced it does not recognize any digital currency as legal tender earlier this year, compelling all parties to avoid owning, selling or trading in them. This has paved the way for the kind of regulatory struggle which has been enacted across the globe as countries try and reckon with the growth of the industry versus the risks associated with cryptocurrency.

The central bank put out the following statement in January concerning its stance on Cryptocurrency.

“Owning virtual currencies is very risky and inherently speculative, digital tokens are prone to forming asset bubbles and tend to be used as method for money laundering and terrorism funding, so it has the potential to affect financial-system stability and harm the public.”

Still, there has been no movement in the regulatory process since the warning that never went so far as to outlaw trading cryptocurrency in the country.

Image from Shutterstock

The post Coinone Looks Beyond South Korea to Global Market in Indonesia appeared first on NewsBTC.

Bitcoin Press Release: Orocrypt, has announced the launch of its OCG gold backed tokens. OCG tokens are built on the Ethereum protocol, and are compatible with all Ethereum wallets.

11 April, 2018, Panama – Ethereum blockchain-based company Orocrypt OCG tokens are 100% backed by gold bullion and each represents ownership of 30 grams of fine gold.  Orocrypt will charge a 1% commission fee over gold spot price on the sale of one token or more. There is also a 0.04% transfer fee when the tokens are transferred between wallets. The commissions for purchases involving less than one OCG token range between 5% ( for 0.9 to 0.5 tokens) and 10% (for purchase between 0.1 and 0.5 tokens).

The OCG tokens can be easily traded with Orocrypt or P2P. The company intends to apply for listing in selected decentralized exchanges. https://medium.com/@orocrypt/orocrypt-gold-token-ocg-now-available-for-sale-eb5b6383c5f5

Orocrypt has made sure that all aspects of the token issuance, including holding client funds, issuing digital tokens, procuring and storing gold are open and auditable. To reduce the risks of adverse legislation in any one jurisdiction, Orocrypt will have the bullion stored in secured vaults around the globe. Swiss Gold Safe AG vaults are located in Zurich, Byzantium’s vault is located in the Cayman Islands, while OZL AG vault is in Liechtenstein.

The Orocrypt board is comprised of experienced former bankers, stockbrokers, accountants and senior business professionals. The Swiss and Liechtenstein vaults will be audited by Societe de Surveillance SA. The bullion gold will be sourced from Rheingold-Edelmetall Liechtenstein and Byzantium Cayman Islands.

Orocrypt complies with all Panamanian regulations, including the ones concerning precious metals merchants and those established by the Sujetos Obligados No Financieros, of the Ministry of Economy and Finance. The Superintendencia del Mercado de Valores has issued a No Action opinion on Orocrypt’s business.

About Orocrypt

Orocrypt is a company that will issue tokenized precious metals vault receipts.

Learn more about Orocrypt Inc on the official site – https://orocrypt.com/#
Orocrypt Bitcointalk account – https://bitcointalk.org/index.php?topic=1925056
Follow Orocrypt Inc on Twitter – https://twitter.com/orocrypt
Read the Orocrypt Inc Whitepaper Here – https://orocrypt.com/#documents
Join the official Orocrypt Telegram group here –https://t.me/joinchat/AAAAAAhCWkGn4hcOoQ_LYQ

Media Contact

Contact Name: Alejandra de Gaustad
Email: [email protected]
Location: Panama
Company: Orocrypt Inc

Orocrypt 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. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. 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: Orocrypt Offers Digitized Precious Metals on Ethereum Blockchain appeared first on BitcoinNews.com.

Since Bitcoin’s share of the total crypto market capitalization has dropped from over 90 percent to years ago to lows of around 50 in the past 12 months it’s timely to reassess the Bitcoin maximalist tenets. How have they stood the test of time?

Handling human resources presents a challenge to almost all organizations, irrespective of their size. And at this time, most businesses run the same Human Resources processes but mostly manually which makes it hard for the people in charge to comb through data stored in outdated systems. Even with the hard work, they will be left with data that lacks validity and consistency.

Even if various disparate tools that affect human capital are aligned, there is no guarantee that the data contained within them is easily accessible, shareable and visible to all relevant stakeholders.

4th Pillar is a blockchain based project that aims to harness the power of blockchain technology to disrupt the way recruitment has been managed by finding a solution in the complicated world of HR and ultimately simplifying the entire HR industry.

Drastically Reduce the Use of Paper.

The human resource and finance connecting hub, 4th Pillar (presale coming soon), is designed for both individuals and organizations. Built with over 22 years of experience in the HR industry, the 4th pillar is based on the Ethereum blockchain and teleportation service, utilizing smart contracts, wallets and IPFS protocol to solve day-to-day problems experienced by individuals and their employers. The idea is to drastically reduce the demand for paper, which is expected to put more pressure on forest ecosystems, as well as help reduce the carbon and ecological footprint.

To achieve this vision is not going to be an easy task. 4th Pillar is facing three main challenges including lack of a wallet system capable of sending multiple payments from organizations to individuals, lack of a mainstream blockchain based B2B and B2C work related sensitive document transfer, and lack of an online recruitment platform based on verified data.

The solutions to challenges are the creation of a 4th Pillar decentralized blockchain system for employers to reward and transfer FOUR tokens directly to their employees using a self-managed 4th pillar decentralized personal savings wallet. 4th Pillar will also use Blockchain and Interplanetary File Systems (IPFS) to provide efficiency in the secure transfer of valuable documents through its network directly from employer to employee. This will make room for creating a digital employee professional identity database with automated evaluation system to recruit based on verified work history.

Platform Services Sales.

Four token is created as a utility token for the 4th Pillar platform. With an embedded token teleportation service and multiple transfer option, the FOUR token serves as an atomic unit and main component of the 4th Pillar ecosystem. As the platform uses Ethereum blockchain and token teleportation services in combination with 4th Pillar scalable cloud service, FOUR tokens will be used as the main value and gas. Other uses include a provision of community incentives and rewards, acts as a B2B payment medium, and as a main revenue mechanism in the 4th Pillar internal economy.

Once operational, on September 1st, 2018, FOUR tokens will earn the organization’s gas fees from token transactions. 4th Pillar organization sells FOUR tokens in EUROs to organizations at market price. In addition, tokens will also be sold to recruiters and HR agencies as platform subscription.

The hard cap forecast of 12M capital will be raised through a Token Generation Event process over a 3-month period. TGE sales are booked through all periods for the years; 2018, 2019, 2020, and 2021. Sales driven organization is reaching over 3M EUR platform services sales in the 4th year. Middle Cap organization is reaching 3M EUR platform services sales with 4.3 EUR booked in years 2018 and 2019. On the other hand, TGE sales are booked in 2 year period for the Soft Cap with a sales driven organization reaching 2.5M EUR platform services sales in the 4th year.

Possibilities for the Future.

What makes 4th Pillar unique is the way it is conceptualized, developed and integrated into the business. The platform combines several solutions that solve many of the well-known HR pains. The project already has a developed working BETA for the first function including multi wallet value transfer. To go even further, the 4th Pillar platform has great possibilities for the future as it has the potential to expand and target the wider market due to the fact that it will offer multi-field solutions.

More information about the 4^th Pillar is available at – https://www.the4thpillar.io/

The post 4th Pillar: Using Blockchain Technology to Solve Many of the Well-Known HR Pains appeared first on NewsBTC.

A Philippines senator is seeking to speed up the passage of legislation that would increase the penalties for crimes involving cryptocurrencies.

In the world of cryptocurrencies, there are always plenty of exciting developments to keep an eye on. Over the past 36 hours, it seemed as if all markets would enter a bear market once again, but things are not looking all that bad, for the time being. More specifically, all markets are still in the green, with Cardano noting some very strong gains.

Cardano Price Continues to Rise

It has become apparent April may be the moment in 2018 during which the negative cryptocurrency market momentum turns into an uptrend. While it’s still too early to draw any conclusions in this regard, one has to acknowledge things are not looking all that bad as of right now. If the Cardano price is any indication, the uptrend appears to be in full effect as we speak.

To put this into perspective, we have seen some interesting Cardano price gains over the past week. With the value rising from $0.15 all the way to $0.25, the Cardano price has almost doubled over the course of just seven days. Albeit that is not unique in the world of cryptocurrency, it does go to show there is a lot of interesting momentum within the cryptocurrency right now.

As one would come to expect with such strong gains, Cardano is also gaining ground on Bitcoin. With another 7.54% gain in the ADA/BTC department, one ADA is now valued at 0.00003123 BTC once again. It will be interesting to see how this particular trend evolves, as there is no reason to think the momentum will turn bearish again for more than a few hours. At the same time, cryptocurrency remains an unpredictable industry first and foremost.

With $865.058m in 24-hour trading volume, it seems the money is flowing back to cryptocurrencies as of right now. This is a more than welcome change, given all of the trading volume woes we have seen in the past few months. Even so, there is still plenty of room for future corrections, which can either lead to a further Cardano price increase or decrease, depending on how the situation evolves.

As of right now, Upbit is leading the charge in terms of ADA trading. Its lead over Binance is quite substantial, which won’t surprise too many people. Bittrex is in third place, although it generates around 7% of UpBit’s volume. The demand by South Korean traders for cryptocurrencies has been remarkable for some time now and it seems things are not slowing down over there by any means.

How all of this will affect the future of the Cardano price, remains to be determined. As of right now, the positive momentum has been locked in place for a full week, but things can still turn around fairly quickly in this volatile industry. As long as Bitcoin continues to note small gains every day, most altcoins will continue to thrive for some time to come. Unfortunately, that also means the Cardano price heavily relies on the value per BTC, which is not necessarily a good thing.

Crypto exchanges have different responsibilities to their clients. In the case of a hack or theft, they need to refund their customers. Coinsecure, an Indian Bitcoin trading platform, will do exactly that. The recent theft affecting several users forces the company to reimburse victims out of their own pocket.

The Coinsecure Theft Investigation

Coinsecure was recently hacked by an unknown assailant. During this theft, the company lost 438.318 Bitcoin, valued at around $3.3 million. This money has been taken from the company’s Bitcoin wallet. Rumor has it this may have been an inside job by company CSO Dr. Amitabh Saxena.

Official complaints registered with police authorities clearly implicate Saxena as the culprit. It is unclear if there is any evidence to make those charges stick. With the money still not being located, the investigation will continue for some time to come. Coinsecure even announced a 10% finder’s fee to its community for anyone who can help recover the money in question.

Given Bitcoin’s lack of privacy and anonymity, finding the money should not be difficult. That is, assuming the money has not been converted to another cryptocurrency with anonymity features. Additionally, the money may have already been converted to fiat currencies. For now, the attempt to recover the funds is still in full effect.

Repaying Affected Customers

While this process takes place, Coinsecure has made it clear they will reimburse customers in one way or another. Option one is more favorable as it would result in the stolen money being returned. If that were to happen, customer balances will be corrected by the exchange automatically. The other option will work as follows:

“However, if recovery of siphoned BTC is not possible, then we will apply the lock in rates as of the 9th of April, 2018. 10% of the Coin Holding Balance will be refunded in BTC and 90% will be returned in INR.”

It is not the first time a cryptocurrency exchange gets hacked and fails to retrace the funds immediately. Earlier this year, Japanese firm Coincheck went through a similar problem. They also refunded customers out of their own pocket while the investigation was still ongoing. This further confirms cryptocurrency exchanges are maturing and have sufficient liquidity to deal with such incidents.

Image from Shutterstock

The post Coinsecure Confirms Victims of Recent Hack Will be Refunded appeared first on NewsBTC.

The US National Aeronautics and Space Administration (NASA) is funding and co-running a research project that utilizes Ethereum blockchain smart contracts in safeguarding deep space travel.

The project focuses specifically on implementing the technology in improving space communications, ensuring navigations that take place are safer and more efficient. Should the research developments be successful, NASA plans to employ the results on deep space probes that potentially could be automated to avoid rubble in space.

Currently, such spacecraft rely on communications from scientists on Earth to relay crucial information regarding obstacles in space, as opposed to the cognitive structure proposed by this research project. Those behind the project propose that Ethereum-based smart contracts have the potential to independently track space debris, preventing significant damage to the spacecraft.

The project has been dubbed the ‘Resilient Networking and Computer Paradigm’, lead by the assistant professor of electrical and computer engineering at the University of Akron (UA), Dr Jin Wei Kocsis. A three-year USD 330,000 grant has been secured by Dr Kocsis to fund the project.

The UA released an announcement citing Dr Kocsis on the project, who said, ”The Ethereum blockchain technology will be exploited to develop a decentralized, secure, and cognitive networking and computing infrastructure for deep space exploration. The blockchain consensus protocols will be further explored to improve the resilience of the infrastructure.”

Dr Kocsis also spoke about her hopes that a finalized version of the technology could automize the collection of data simultaneously with other tasks, such as providing spacial intelligence for the spacecraft. This has the potential to save both time and money, as fewer scientists would required to operate these automated functions.

Adding to her statement, Dr Kocsis said, “I hope to develop technology that can recognize environmental threats and avoid them, as well as complete a number of tasks automatically.”

As of yet, no information has been released stating whether it is the public or private Ethereum blockchain used for the research project. Regardless, this proposes an exciting venture for blockchain technology, as well as that for space communications and travel. As NASA’s advanced communications program manager at the Glenn Research Center put it, this could lead to ”next-generation space networks”.

The post NASA Looks to Utilize Ethereum Blockchain Technology appeared first on BitcoinNews.com.

Key Highlights

• Ethereum classic price corrected lower after trading as high as $17.01 against the US dollar.
• There was a break below a connecting bullish trend line with support at $16.60 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
• The pair remains supported on the downside above $15.80 and it could resume its uptrend.

Ethereum classic price is positioned in a bullish trend against the US Dollar and Bitcoin. ETC/USD may trade in a range above $15.80 before it makes the next move.

Ethereum Classic Price Resistance

There was a decent upside move in ETC price above the $16.00 level against the US dollar. The ETC/USD pair traded towards the $17.00 level where sellers emerged. A high was formed at $17.01 from where the price started a downside correction. It moved down and broke the $16.80 and $16.60 support levels. Moreover, there was a break below the 50% Fib retracement level of the last leg from the $15.05 low to $17.01 high.

More importantly, there was a break below a connecting bullish trend line with support at $16.60 on the hourly chart of the ETC/USD pair. However, the decline found support near the $16.50 level, which is a key pivot zone. There is also a bullish trend line on the same chart with current support at $15.80. At the moment, the price is testing the 50% Fib retracement level of the last drop from the $17.01 high to $15.62 low. A break above the $16.40 level is required for an upside acceleration towards $17.00 or even higher.

The chart above suggests that the price is positioned nicely above the $15.80 support. As long as ETC is above $15.60-80, it may trade in a range before making the next move higher.

Hourly MACD – The MACD for ETC/USD is gaining pace in the bullish zone.

Hourly RSI – The RSI for ETC/USD is currently well above the 50 level.

Major Support Level – $15.60

Major Resistance Level – $16.40

The post Ethereum Classic Price Technical Analysis – ETC/USD Could Extend Gains appeared first on NewsBTC.

A South Korean blockchain industry organization has proposed a self-regulatory framework to set standards for the cryptocurrency exchange industry.