Day: April 18, 2018

Bitcoin remains on the hunt for a bullish move over $8,400 after recovering from a sharp overnight dip.

Cryptocurrency wallet service Blockchain announced on Tuesday that top Goldman Sachs executive Breanne Madigan would be joining the firm as head of institutional sales and strategy.

Blockchain has positioned Madigan in this role in a bid to appeal to the growing number of institutional investors choosing to begin exchanging cryptocurrencies. The market for this type of client is seen as particularly lucrative but is yet to have fully taken off.

The move by Blockchain could have been influenced by the recent news of George Soros and the Rothschilds beginning their venture into the cryptocurrency market. Powerful players such as these will be looking to invest and store their funds with the best-staffed teams.

Analysts have predicted 2018to be the year institutions will enter the market, as did former portfolio manager at the University of Chicago Ari Paul. He recently spoke to CNBC on the subject, saying: ”I do think it’s inevitable from a few angles”.

There are many institutional investors, however, that still view investment into digital currencies as particularly risky. While Bitcoin may be the most popular currency to purchase, the volatile fluctuations that have seen it drop to less than half its valued worth in December 2017. The unstable market conditions continue to deter high-investment traders.

Breanne Madigan

Madigan most recently headed the department of institutional wealth services at Goldman Sachs. Under her leadership, the division saw the total amount of assets managed at a record of USD 1.49 trillion in 2017, as reported by Blockchain.

CEO of Blockchain Peter Smith commented on her move to the firm, noting, ”Breanne has a proven track record of adding value to her teams and her clients, and as Blockchain continues to grow its institutional presence, I can think of no one better to help scale our business”.

Blockchain currently has 24 million active wallets registered on the platform. It offers a cryptocurrency wallet service similar to Coinbase.

 

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Another exec has left the traditional financial sector for crypto, as Oz Management’s CFO leaves to become CFO at Coinbase. #NEWS

Litecoin has always been one of the more popular cryptocurrencies on the market. In recent months however, the currency has lost some of its appeal. With the LitePay deal falling through, a bump in the road was hit. Now that Korbit will launch LTC trading, things are looking up once again. Having the oldest Korean exchange on board is a pretty big deal for any currency.

Korbit Taps Litecoin for Trading

South Korea is the current hub for cryptocurrency-related activity. Its local exchanges generate a lot of volume every single day. With these exchanges now imposing self-regulation, the industry will continue to thrive. Korbit is one of the oldest exchanges in the country as of right now. Even so, the company needs to keep evolving like other trading platforms.

The decision to enable Litecoin trading is rather interesting in this regard. While a very popular cryptocurrency, a lot of exchanges already provide LTC trading. Especially in South Korea, Litecoin has become rather popular alongside Bitcoin and Ethereum. For Korbit, adding Litecoin at this stage is a crucial decision.

More specifically, this platform offers a lot of legitimacy to the cryptocurrency industry. While not generating the most volume, it is still a go-to solution for a lot of novice traders. Deposits for Litecoin have been enabled since last night and transactions will go live later today. For now, it remains to be seen how much volume Korbit can bring to the table in the coming weeks and months.

A Positive Development for Litecoin

This news comes at a crucial time for Litecoin as a whole. The popular cryptocurrency has seen its fair share of controversy and minor setbacks in recent months. It all began when Charlie Lee announced he sold off his LTC holdings when the currency hit a rather high value. This comment does not impact the future direction of Litecoin, but it put a lot of holders and investors on edge for a while.

To add to these woes, the Litepay deal recently fell through. This service aimed to provide a dedicated LTC merchant solution and a debit card. Unfortunately, the company seems to have run into some issues and the operation was dismantled recently. Getting Litecoin into the hands of more consumers and merchants will remain a big challenge, for the time being.

With Korbit on board, things are looking up for LTC once again. An exchange listing often brings positive momentum to the cryptocurrency ecosystem as a whole. For Litecoin, it will help solidify the currency’s position on the market. It seems people actively providing volume for LTC on Korbit will also receive a bonus due to a special content being organized.

 

Image from Shutterstock

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In the world of cryptocurrency, there is no such thing as a boring day. Even though the positive momentum seems to have stalled a bit, for the time being, the Bitcoin Cash price is still noting some impressive gains. That in itself is rather interesting to take note of, even though such an uptrend was bound to happen at some point in the future.

Bitcoin Cash Price Momentum is Impressive

As is the case with all cryptocurrencies, things are not looking all that bad as of right now. While things can still turn around on a dime, some currencies are noting small to medium-sized gains. Bitcoin Cash is among those currencies, as its value has increased to $832 in the past few hours. Such a solid Bitcoin Cash price gain at a time when Bitcoin is stalling is well worth paying attention to.

Over the past 24 hours, we have seen the Bitcoin Cash price rise by 7.08%. That in itself is a rather interesting development, as it is the only currency in the top 10 to note such solid momentum as of right now. That doesn’t mean other currencies won’t see their fair share of success in the days to come, though, but for now, it is evident BCH will be on most people’s radar moving forward.

It is also interesting to note how BCH has gained 7.45% over Bitcoin itself. Considering how the world’s leading cryptocurrency is going into sideways price momentum right now, it is up to alternative currencies to make their mark on the industry in their own way. Whether or not we will see a Bitcoin Cash price of over $900 later this week, remains difficult to predict, as the markets remain rather volatile.

With $440.668m in 24-hour trading volume, the demand for Bitcoin Cash is certainly present as of right now. For now, the buyers remain in control of these markets, but that situation may very well change once traders begin taking profits. A 7%gain is more than sufficient for smaller traders to cash out some profits along the way and look for new opportunities as they present themselves in the coming hours and days.

Speaking of BCH trading volume, HitBTC is the surprising leader as of right now. This exchange is well ahead of both Huobi and OKEx in this regard, which also means there are no fiat currency pairs in the top three as of right now. That in itself can pose a big problem in the near future, but for the time being, it doesn’t appear to hinder the Bitcoin Cash price momentum too much.

Whether or not the Bitcoin Cash price will continue to increase, remains anybody’s guess. The current momentum is certainly in place as of right now, but the markets are still in a rather awkward state right now.  Any positive momentum building right now may effectively turn into a steep decline for no apparent reason. For now, the Bitcoin Cash price seems to hold its own above $825, but anything can happen.

Huawei has become the latest Chinese tech giant to launch its own blockchain-as-a-service platform, following on the heels of Tencent and Baidu.

The concept of bug hunting started in 1998 at the communications company Netscape, who upon realizing that many of its employees were finding and fixing errors in the code of their own volition, sought a way to get people outside the company to do the stress-testing.

Cryptocurrency mining has become a never ending battle between GPU and ASIC mining hardware. #ANALYSIS

Cambridge Analytica allegedly planned to hold an initial coin offering (ICO) for their own digital currency, prior to becoming embroiled in a scandal involving the misuse of data from Facebook.

Sources familiar with the situation spoke to Reuters Tuesday, noting that Cambridge Analytica had consulted with a company known for advising the structuring of ICOs. It is reported they were looking to source up to USD 30 million from the ICO.

A spokesman for Cambridge Analytica did not confirm if the firm was still pursuing the venture but did comment on their intentions to use blockchain technology in securing data in their care online. They stated: ”Prior to the Facebook controversy, we were developing a suite of technologies to help individuals reclaim their personal data from corporate entities and to have full transparency and control over how their personal data are used.”

This seems ironic considering that the nature of the scandal they were involved in entailed gaining and sharing Facebook users data improperly and without the users’ knowledge. The spokesman continued in their email to Reuters, saying that they were “exploring multiple options for people to manage and monetize their personal data, including blockchain technology”.

Cambridge Analytica notably worked for the US presidential campaign of Donal Trump in 2016, before knowledge of the Facebook scandal was known publicly. Earlier this month, Facebook said that over 87 million users may have been affected by the data analytics consultancy’s breach of privacy, although Cambridge Analytica reiterated that data was properly licensed on far fewer users from the research firm they were working on behalf of.

ICOs

As the popularity of digital currencies continues to increase, ICOs are one of the most popular ways for firms to raise money for their startups.

According to research from Autonomous, companies have so far raised USD 3.5 billion this year through ICOs. This style of funding is popular with investors as they can exchange their tokens on online trading platforms, often at a profit.

 

The post Cambridge Analytica Reportedly Planned ICO appeared first on BitcoinNews.com.

Bitcoin Press Release: Blockchain-based rewards and loyalty startup Bitrewards has announced new partnerships with TUI, Eventbrite and GoPro.

April 11th, 2018, Singapore – BitRewards, the blockchain-based rewards and loyalty system for e-commerce businesses, is proud to announce strategic partnerships with TUI Group, Eventbrite, and GoPro.

Formerly known as Thomson Holidays in the UK and TUI AG in Germany, the parent company (TUI Group), is a multinational travel conglomerate, with divisions in dozens of countries. The company control 6 airlines, 300 hotels and resorts, cruise ships, over 67,000 employees, and €18.5 billion in revenues.

TUI Group has expressed interest, as a client of GIFTD, to integrate a blockchain-based loyalty and rewards scheme BitRewards on a pilot basis, to let their customers gift their family and friends with amazing discounts and bonuses on holidays in just a few clicks. The team are looking forward to working closely with TUI Group to deliver the rewards and loyalty scheme that their customers will love.

Eventbrite

Eventbrite is a global event technology platform that powers more than 3 million meetups, and events each year. It is headquartered in San Francisco and has offices in 12 countries, including Australia, Brazil, Germany, Ireland, and the Netherlands.

BitRewards is ready to issue the loyalty points to the ticket buyers of Eventbrite, and there will be a deep API integration between two companies. The event market is huge — it is a 30 billion dollar industry. It is an amazing chance to shake it with a cutting-edge loyalty software.

GoPro

GoPro is another well-known, global brand BitRewards team is proud to announce working with. As a client of GIFTD, GoPro – which sells millions of cameras, drones and accessories around the world – is looking forward to integrating a crypto-rewards option into its loyalty scheme.

GIFTD motivational marketing and rewards platform has been generating results for GoPro for a while now, making this a smart fit for them as they continue to enhance the online customer experience. Working with GoPro, BitRewards will be testing AI Recommendations system to ensure consumers and brands benefit from the recommendations the system generates. Test results and feedback will further shape how this service will be enhanced and improved.

Learn more on the BitRewards website – https://bitrewards.network/
Read the BitRewards Whitepaper – https://bitrewards.network/wp.pdf
Chat with the BitRewards team on Telegram – https://t.me/bitrewards
Follow BitRewards on Twitter – https://twitter.com/bitrewards
Follow BitRewards on Facebook – https://www.facebook.com/bitrewards.network
Discuss with BitRewards on bitcointalk – https://bitcointalk.org/index.php?topic=2409919
Learn more about BitRewards on Medium – https://medium.com/@bitrewards

Media Contact

Contact Name: Nick Avramov
Email: [email protected]
Location: Singapore
Company: BitRewards

BitRewards 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. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Police in China have arrested the founders of a claimed cryptocurrency pyramid scheme that amassed $13 million from over 13,000 people.