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Bridging Markets and Reviving lost Demand Finally Becomes a Reality with INGOT Coin

INGOT Group has created a first- of-its-kind blockchain ecosystem named INGOT Coin that promises to link the existing financial markets and the rapidly emerging crypto markets like never before. INGOT Group claims that this specialized ecosystem will make the customers more confident and increase market liquidity, while providing more efficient market pricing and access to funds for a wide variety of stakeholders.   May 03, 2018 INGOT Group, a multi-industry company with industry-specific professionals, is all set to bring about a groundbreaking impact on the existing financial markets. By creating a revolutionary blockchain based ecosystem named INGOT Coin (IC), they

INGOT Group has created a first- of-its-kind blockchain ecosystem named INGOT Coin that promises to link the existing financial markets and the rapidly emerging crypto markets like never before. INGOT Group claims that this specialized ecosystem will make the customers more confident and increase market liquidity, while providing more efficient market pricing and access to funds for a wide variety of stakeholders.  

May 03, 2018

INGOT Group, a multi-industry company with industry-specific professionals, is all set to bring about a groundbreaking impact on the existing financial markets. By creating a revolutionary blockchain based ecosystem named INGOT Coin (IC), they have finally made it possible to build a new pathway between the crypto and the current traditional market participants, enabling them to diversify their portfolio in an efficient and secure manner.

The vision of the IC Ecosystem is to revive the lost unity and demand for both the markets by establishing six different components to work hand in hand under one umbrella, providing all community members the chance to capitalize on the upcoming opportunities in all markets. The ecosystem is comprised of an IC Wallet, IC Exchange, IC Brokerage, IC Digital Bank, IC Certifier and IC ICO Accelerator.

“INGOT Coin will create a complete solution by integrating 6 core ecosystem components and providing a one-stop-shop for the digital asset, traditional asset and currency markets,” said Iman Mutlaq, the Director of INGOT Group and the founder of INGOT Coin.

The IC Ecosystem will provide round the clock support, services and linkage between markets, providing the industry’s fastest and safest entry and exit mechanism for both sides, leading to making reallocation and trading techniques as  efficient as possible, without being hindered by the time and cost associated with the previously segregated markets.

Primarily, The IC Ecosystem will facilitate custodial and brokerage operations that will encompass all traditional financial instrument functions needed. Linking multi-signature and cold storage IC Wallets with the full-fledged IC Exchange in addition to linking the IC Brokerage to both components will allow clients to safely trade in crypto and alter to the traditional market freely then easily expand or liquidate their investments through the IC Bank.

“The IC Ecosystem will transform trades, settlements and payments and make them instant, bringing together different necessary components and cutting out third party intermediaries who usually delay the process and increase associated costs,” explains Ahmed Khawanky, the CMO of INGOT Coin.

INGOT Coin has already established partnerships around the region as well as globally and has been participating in the market since 1993 through their holding group INGOT Group.

INGOT Group continuously works on providing all stakeholders an ever-growing broad range of innovative products and services globally, thus allowing it to gain sufficient expertise to link this knowledge to the new blockchain environment and create an all-inclusive and self-serving Ecosystem.

The group has recently added seven advisors, all with an extraordinary background and a wealth of industry experience.

  • Warren Whitlock, PR & Marketing Advisor  
  • Navin Kapoor, Blockchain ICO Advisor
  • Pranav Bhatia, Blockchain R & D
  • George Mentz, ICO Legal Advisor
  • Sydney Ifergan, ICO Marketing Advisor
  • John Van Der Voss, ICO Advisor
  • Bogdan Fiedur, ICO Tech Advisor
  • Victor Chow,  ICO Business Advisor   

  

More about INGOT Group and INGOT Coin can be found at https://www.ingotcoin.io/

About INGOT Group: A multi-industry company founded in 1993; INGOT Group has grown into one of most successful firms with industry-specific professionals operating in different companies and sectors under one umbrella. The group has fortune companies across multiple industries and adopts a strategy to expand its business and to leave an influential impact in the market field.

Website: https://www.ingotcoin.io/

Email: [email protected]

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.

What is Oracle and why it is so important?

Since Oracle is the only way for smart contracts to interact with data outside of the Blockchain environment, it performs core functions and plays an indispensable role in cryptocurrency and Blockchain industry. Generally speaking, Oracle is a third-party agent that finds and verifies real-world occurrences and submits this information to a blockchain to be used by smart contracts. The Oracle might be considered as a data feed specially designed for use in smart contracts. It provides the necessary data to trigger smart contracts to execute when the original terms of the contract are met. These conditions could be anything associated

Since Oracle is the only way for smart contracts to interact with data outside of the Blockchain environment, it performs core functions and plays an indispensable role in cryptocurrency and Blockchain industry. Generally speaking, Oracle is a third-party agent that finds and verifies real-world occurrences and submits this information to a blockchain to be used by smart contracts.

The Oracle might be considered as a data feed specially designed for use in smart contracts. It provides the necessary data to trigger smart contracts to execute when the original terms of the contract are met. These conditions could be anything associated with the smart contract – temperature, payment completion, price changes, etc.

Technological revolution and Blockchain

There are no doubts, that we are now standing on the threshold of big changes. The blockchain is considered to be the main driver of them. The implementation of distributed ledger technology will bring us closer to creation of such things as  Internet of Things, Web 3.0, Decentralized applications and organizations and new business models and solutions. All these changes will definitely revolutionize our vision of modern businesses, internet and technologies.

The blockchain is developing at exponential paces covering more and more companies, countries and business spheres all over the world. Thus, for example, according to IBM report, 15% of banks worldwide expect to widely implement Blockchain within this year.  In addition, IBM says that in four years 66% percent of banks expect to have Blockchain in commercial production and at scale. There are also another arguments in favor of blockchain revolution. For instance, the smart-contracts market is skyrocketed in recent years with the grow in number of contacts from 123.000 in 2016 to 5.400.000 in 2018. And this is only the beginning….

The problems that businesses face when moving into blockchain

However, the implementation of blockchain is not as easy as it might seem. First of all, businesses simply can not integrate their existing data with the blockchain. They also like Decentralized applications (dApp) need an interface to communicate with real-world data. The reason for this is that there is a fundamental difference of formats. In order to solve this issue, different types of Oracles appeared. With the help of Oracles, smart contracts receive real-world applications in virtually every field available. Once data hits the Blockchain, the information can be used to execute the contracts and provide use cases, which can disrupt industries across the board.

The main issues that businesses face during blockchain implementations are:
Deficiency of specialists and ready-made solutions for blockchain implementation – makes the process of blockchain developments extremely costly and strongly inhibit the blockchain wider implementation.

⧫ Lack of standardized blockchain solutions for cooperation and interaction between businesses – makes it impossible to build a system of ratings and interactions between different oracles or data sources on a global scale.

Absence of a mechanism for resolving disputes – undermine the democratized trust created by blockchain technology and hinder its broadening evolution and applicability.

DUCATUR – Common solution for all Oracle’s problems

The DUCATUR has all opportunities to become a universal solution for future blockchain implementation and help a lot of businesses to step into a new technological era. We provide the first Multi Chain Oracle framework that will become a universal instrument for blockchain implementation for companies and organizations.

The DUCATUR network provides highly standardized ready-made solutions for companies and realizes it’s own disputes resolving mechanizm named decentralized court that will monitor the operation.

Here in DUCATUR, we are highly concerned about the current market situation and therefore – we would like to make the access for companies to blockchain easier by creating a universal framework with blockchain solutions that can be simply implemented by any company.

Website: https://ducatur.com/?utm_source=http%3A%2F%2Fthemerkle.com&utm_medium=Press%20release

One pager: https://ducatur.com/static/ducatur-onepager.pdf?utm_source=http%3A%2F%2Fthemerkle.com&utm_medium=Press%20release

WhitePaper: https://ducatur.com/static/ducatur-whitepaper.pdf?utm_source=http%3A%2F%2Fthemerkle.com&utm_medium=Press%20release

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.

Propy Unveils Product Roadmap Update

May 3, 2018, Palo Alto, California – Propy, the global real estate marketplace with a decentralized title registry, continues to revolutionize the real estate industry. Shortly after being listed on two of the top exchanges, Bittrex and Upbit, the company released a new technology-focused roadmap for 2018. Propy was founded in 2016 by CEO Natalia Karayaneva, a real estate developer with a background In software engineering, After a successful token sale, the blockchain start-up completed the first transaction on their smart contracts, in October 2017. Since then, Propy has delivered new app releases and deployed blockchain registry pilots in Ukraine,

May 3, 2018, Palo Alto, California – Propy, the global real estate marketplace with a decentralized title registry, continues to revolutionize the real estate industry. Shortly after being listed on two of the top exchanges, Bittrex and Upbit, the company released a new technology-focused roadmap for 2018.

Propy was founded in 2016 by CEO Natalia Karayaneva, a real estate developer with a background In software engineering, After a successful token sale, the blockchain start-up completed the first transaction on their smart contracts, in October 2017. Since then, Propy has delivered new app releases and deployed blockchain registry pilots in Ukraine, Vermont, USA and a first historical deal in California is expected soon.

The project is being developed by a team of researchers and engineers from Apple, Facebook, Linkedin, and Intuit, along with Silicon Valley realtors. In a recent blog post Propy details the 2018 roadmap and how it plans to solve some of the main challenges in the international real estate.

Alex Voloshyn, CTO of Propy, envisions a thriving year for Propy: ”We have ambitious goals for 2018 and the engineering team is excited to work on the groundbreaking technologies for the Transaction Platform and Propy Registry. In particular, partially-private consortium blockchain with automatic anchoring to the public Ethereum,  integration of our IPFS fork for documents storage, and the on-chain privacy solution. These goals are aggressive, but we have out-performed our deadlines in the past and we will work tirelessly to do it again!”

To develop the platform into an efficient one-stop real estate shop, Propy will integrate a crypto and fiat currency exchange. Furthermore, a Blockchain-based explorer will allow to monitor the public ledger data, and verify transactions.

Propy invites the community to contribute to the future decisions and share their ideas by joining the Telegram channel: https://t.me/propy.

About Propy

Propy is a global real estate marketplace with a decentralized title registry. Propy aims to solve the problems facing international real estate transactions by creating a novel unified property payment solution and asset transfer platform on the blockchain.

Press Contact: Market Waves

Contact email: [email protected]

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.

What kind of digital assets are worth holding?

An in-depth analysis of the MATRIX economic ecosystem With the advent of the digital economy, more and more digital assets are brought into the market and in a variety of ways. With this year’s ICO boom, various types of assets and tokens have emerged, but what are the factors affecting the value of these assets? What kind of digital assets are worth holding? This is a problem that every investor pays close attention to. Here, we will use MATRIX as an example to explain the inner logic that assigns value to digital assets. In general, the value of digital assets

An in-depth analysis of the MATRIX economic ecosystem

With the advent of the digital economy, more and more digital assets are brought into the market and in a variety of ways. With this year’s ICO boom, various types of assets and tokens have emerged, but what are the factors affecting the value of these assets? What kind of digital assets are worth holding? This is a problem that every investor pays close attention to. Here, we will use MATRIX as an example to explain the inner logic that assigns value to digital assets.

In general, the value of digital assets (relative price) is determined by three major aspects: value anchoring, liquidity, and consensus value.

1. Value anchoring:

The anchoring effect is when a person needs to make a quantitative estimate of an event and certain, specific values ​​are used to set the starting value, and the starting value will serve as the anchor to restrict the estimated value. When making decisions, we will unconsciously give too much emphasis to the information that was initially obtained. Value anchoring refers to the criterion that when a person estimates the value of an asset, he or she will choose a value or reference as an estimate, based on objective conditions.

In the current market, the most representative value anchors are bitcoin and gold. The current cost of mining a bitcoin has exceeded 10,000 yuan, and the cost of producing 1 gram of 24 karat gold is only about 280 yuan. In this case, the overwhelming majority of people would naturally think that no matter the price of bitcoin and gold, their transaction value should never be lower than the cost of production. So the price of bitcoin or gold will fluctuate above the cost of production.

When reviewing the mechanism for the development of bitcoin, Satoshi Nakamoto designed the system to control the total circulation of bitcoin; (in the simulation of gold, the mining rate will be slower due to limited reserves). Bitcoin production, also known as mining, stipulates that after producing 210,000 blocks, the production of bitcoin will be halved. At the beginning, each block will produce 50 bitcoins, and then the rate is gradually halved until it approaches zero. As bitcoin’s mining difficulty gradually increases, the cost of producing bitcoin becomes higher and higher, which has become an important reason for the gradual increase in the price of bitcoin.

Therefore, when choosing to hold digital assets, whether or not there is a value anchor should be used as an important reference factor. The digital assets that are generated by mining with a gradual increase in production costs, will have better value support than other digital assets.

MATRIX has innovatively introduced charity mining methods. Unlike mining methods such as bitcoin that simply calculate the data for bookkeeping purposes, mining in the MATRIX system involves participating in calculations that are meaningful to useful projects, such as the sequencing of the human genome. Participating in MATRIX’s mining plan, you can either obtain a MATRIX token, MAN (MATRIX AI Network), or use the mining power and energy to make a tangible contribution to society. Like bitcoin, the difficulty of mining MATRIX will also gradually increase with time. In addition to the mining costs which can anchor the initial price of MATRIX, gradually increasing the cost of mining will become an important factor to promote the value of MATRIX.

2. Liquidity:

The essence of liquidity is, in fact, the relationship between supply and demand in economics. Let’s see the supply-demand curve below:

When the supply is greater than demand, the price of the commodity will decline, when the supply is less than demand, the price of the commodity will naturally rise. It is also true for circulating assets. The relationship between supply and demand determines the liquidity of assets — when supply is greater than demand, liquidity declines, and when supply is less than demand and liquidity rises, it also directly determines the value of assets.

We can also use this classic macroeconomic formula to calculate the price of general equivalents:

M*V=P*T

M — total money

V — Currency turnover, i.e. liquidity

P — Currency price level, i.e. currency value

T — Currency trading volume, the economic value of daily transactions

P (monetary value) = M*N/T

That is to say, with a certain amount of money and a certain amount of market economy, liquidity directly determines the price of currency. For us, it is the value of the asset.

MATRIX has designed a perfect system to guarantee MAN’s efficient and high-speed circulation in this system:

A. MAN’s circulation in MATRIX:

Transactions and Fees: MAN can be used to make payments for any transactions performed by users on MATRIX. When a transaction is packaged, a small MAN-based processing fee will be charged as a miner’s fee, similar to Ethereum’s Gas.

Purchase services: You can use MAN to freely access any application and service published on the main chain of MATRIX. For example, you can use MATRIX Cancer Aid System to determine if you have thyroid cancer. Of course, the core of MATRIX is to provide artificial intelligence services. All artificial intelligence services purchased on MATRIX will require MAN-based payments.

Payment channels: In the future, MAN will be used as a payment method similar to Alipay. With support online and offline, you can use MAN as a token to buy coffee at a coffee shop, or buy daily necessities at a supermarket. MAN’s functionality in the daily life will greatly increase MAN’s demand and circulation. MATRIX also has an excellent team to promote MAN to people from all walks of life.

Buying hashrate: If you have a professional computing challenge, (for instance, if you own a big data company and you don’t know how to handle your massive amounts of data), we can process the data for you when you use MAN to purchase hashrate in the MATRIX network, you will be rewarded according to your contribution.

In summary, it is easy to see that once users have access to the MATRIX network, it will be impossible to avoid obtaining or spending MAN. Therefore, MAN will quickly circulate throughout the world and have many diverse users.

B. Rich Application System

Application is the most important factor affecting the liquidity and value of assets in a blockchain network. For example, Ethereum, (an open source public chain with the largest number of accessible applications), has led to high-speed circulation and soaring prices of ETH tokens. The same is true of MATRIX. From the very beginning, it has gained a large number of high-quality application scenarios and partners:

Auxiliary diagnosis and treatment: MATRIX has started in-depth cooperation with Beijing Cancer Hospital and 302 other domestic, Grade III Level A hospitals, to develop a cancer-assisted diagnosis and treatment system, starting with thyroid cancer and liver cancer.

Credit Information Service: The 21st century will be the era of credit. MATRIX will cooperate with China Securities Credit Investment and China Youth Credit to fully spread out the application of blockchain to corporate credit information and personal credit information.

Distributed computing power: Unlike general mining chains, MATRIX will provide a distributed rental system. Apart from mining, all of the network’s accessible computing power can be rented out on-demand to obtain MAN.

The Belt and Road Initiative: MATRIX has entered into strategic cooperation with the China Belt and Road Development Research Center and will become the only partner in the Chinese Belt and Road for artificial intelligence and blockchain solutions.

It can be seen that, MATRIX’s early landing applications are highly demanding, and at the same time, the market ceiling is extremely high. This will bring endless opportunity for MAN’s circulation and value to grow. Just take the cancer-assisted diagnosis and treatment system as an example, as the saying goes “one token buys one modelesque lover” or “one token buys one villa”, after MATRIX’s cancer-assisted diagnosis and treatment system is launched, “one token can save one life” will become a reality. Is this not more significant?

3. Value consensus:

The consensus mechanism is the cornerstone of the entire blockchain industry, and of course, the value of many tangible assets in the market. The best example of value consensus is diamonds. The high value of diamonds is based on the marketing and guidance of vested interests, long-standing value anchors, and the formation of a consensus on the value of diamonds in society, making diamonds one of the most expensive luxury items in the world today. The history of the diamond can be seen as a legend in value development.

How to make digital assets obtain this consensus of high-value has become an important issue in promoting the value of blockchain networks and assets. Bitcoin, for example, is considered a model for value consensus in the digital asset industry today. Compared with the latest blockchain technology, bitcoin’s network can no longer support large-scale commercial application access, and the transaction speed is not very satisfactory. But through the value of consensus, bitcoin is far ahead of other cryptocurrencies, firmly sitting at the top of the pyramid of digital assets in the blockchain kingdom.

As such, MATRIX has made extensive preparations to achieve value consensus:

First-rate applications and partners: As mentioned above, MATRIX’s initial applications are within lucrative and widely trafficked industries. In addition, MATRIX’s partners are heavyweight organizations: whether it be Beijing Cancer Hospital or China Youth Credit Group of Tsinghua Unigroup, (each very influential enterprises and institutions in mainland China), not to mention the China Belt and Road Development Research Center for strategic cooperation. These partnerships form our core, long-term strategy and direction and create a good foundation of MATRIX’s core values.

ABCD Alliance: The AI ​​Block-Chain and Cloud-Computing Development (ABCD) is a coalition created by the MATRIX project as a core sponsor and is the world’s top production, research and development alliance. These world-class experts and scholars, as well as enterprises and public institutions, provide the MATRIX project with strong academic and technical support and good industrial cooperation channels, and at the same time, they provide an important endorsement for MATRIX’s influence in the world.

MATRIX FOUNDING LIMITED: The main body of the MATRIX project is a foundation legally established in Hong Kong. The establishment of the foundation was led by some of the world’s top lawyers. The MATRIX Foundation’s core team of lawyers has hosted several world-class ICO projects. The MATRIX Foundation will also fully supervise the implementation of the MATRIX project and its promotion and cooperation on a global scale.

Overseas marketing team: Unlike other blockchain projects in mainland China, MATRIX has an experienced overseas project promotion team. The core members of the team have rich experience in promoting Chinese products and projects to overseas users. Members of the team have worked in advertising, entertainment, e-commerce, and with internet giants such as Facebook, Google, LINE, etc.

Conclusion:

In summary, value anchoring, liquidity, and value consensus have become three important dimensions in the selection of high-quality digital assets, and MATRIX is an outstanding representative in all three areas. When investors choose digital assets, selecting target assets in strict accordance with these three important considerations will enable them to earn more than what is commonly expected.

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.

Raiden, Lightning and Plasma not the only contenders in crypto speed battle

Transaction completion speeds are one of the most buzz-worthy topics in cryptocurrency and for good reason. In a myriad of ways, many cryptocurrency projects have made the major technological advancements necessary to put cryptocurrency ahead of fiat c…

Transaction completion speeds are one of the most buzz-worthy topics in cryptocurrency and for good reason. In a myriad of ways, many cryptocurrency projects have made the major technological advancements necessary to put cryptocurrency ahead of fiat currency in this category. Yet, there are many challenges that remain.

Bitcoin Price Analysis – Exchanges and trading desks continue to grow

Bitcoin (BTC) has held a shrinking price range between US$8,800 and US$9,700 since April 23rd. The market cap now stands at US$164.36 billion, with US$3.32 billion traded in the past 24 hours.Crypto exchanges, regulation, and new trading platforms all …

Bitcoin (BTC) has held a shrinking price range between US$8,800 and US$9,700 since April 23rd. The market cap now stands at US$164.36 billion, with US$3.32 billion traded in the past 24 hours.Crypto exchanges, regulation, and new trading platforms all made headlines this week. In a recent blog post, Binance CEO Changpeng Zhao revealed that the exchange made $200 million in the last quarter. This comes on the heels of a $400 million acquisition of Poloniex by Goldman Sachs-backed Circle earlier this year.

(Buy IOTA, Litecoin and NEO) IOTA, Stellar Lumens, NEO, Litecoin, EOS: Technical Analysis for May 4, 2018

While EOS and Tron-which is now out of the top 10, slow down, others are finding an opportunity to expand. In the last 24 hours alone, Litecoin and IOTA have registered impressive gain. In fact the latter is the top performer adding 17 percent in the last 24 hours and continuing with its chart up.

The post (Buy IOTA, Litecoin and NEO) IOTA, Stellar Lumens, NEO, Litecoin, EOS: Technical Analysis for May 4, 2018 appeared first on NewsBTC.

While EOS and Tron-which is now out of the top 10, slow down, others are finding an opportunity to expand. In the last 24 hours alone, Litecoin and IOTA have registered impressive gain. In fact the latter is the top performer adding 17 percent in the last 24 hours and continuing with its chart up. As before, Litecoin remains my long term buy and at current valuation, buyers have a perfect opportunity to load up at a discount.

Let look at these charts:

EOSUSD (EOS)

So depending on how you look at it, I really think this four percent slide in EOS valuation is something that will benefit the coin in the long term. Safe to say, our mild bearish skew is coming out just nicely as per yesterday’s analysis. Because of this, we expect prices to find support anywhere between $14 and $18 today or anytime this weekend.

LTCUSD (Litecoin)

At long last, you can now buy your Reddit Gold using Litecoin and Ethereum. This is what Litecoin needed. Some sort of a jolt, a nudge and the result has been that strong bullish break out above $150.

Regardless of this exciting price movements and/or events, there is still some strong under-valuation in Litecoin that I strongly believe that current prices are a discount. Nonetheless, those who didn’t get in at $150 can still buy and trade with the weekly trend which is also bullish complete with stochastic buy signal turning from deep the oversold territory.

XLMUSD (Stellar Lumens)

No news but the same consolidation and mid range accumulation continues. Despite all this, Stellar Lumens is actually registering very minor losses as it is barely one percent down in the last 24 hours. All in all, we still hold short term bearish skew with main support at 40 cents.

On the other hand, we can also trade a break out if Stellar Lumens buyers push prices beyond 50 cents in the days to come. Better still, you can neglect all these propositions and wait for a stochastic buy signal to print before ramping Stellar Lumens longs.

NEOUSD (NEO)

Like Ethereum, NEO is now catching up. We have a couple of projects launching in NEO blockchain including Asura (ASA), Switcheo, Guardium and many more. I mean, this is simple supply demand-supply dynamics and as the number of projects increases so will NEO demand increase.

Inevitably, this will push prices up. We are already seeing this. Now, like Binance, UpBit shall going forward airdrop GAS to all NEO holders every Friday throughout May 2018. Then again, City of Zion now has a bounty program. Of course, with a $50,000 reward for any developer or group of security audit who can check and or improve NEO’s dBFT protocol, we expect many parties to take part.

On the chart, NEO is up four percent and with a market cap of $5.65 billion it is now trending within the top 10. Technically, NEO is ripe for buys and as such aggressive buyers can consider buying this coin at current prices with reasonable stops at $75 or this week’s lows.

On the flip side, conservatives can wait till NEO bulls push prices above $90 in the coming days before going long. Either way, we shall be trading with the weekly chart which is overly bullish with a stochastic buy signal (just like in the 4HR chart) in place.

IOTUSD (IOTA)

In the last 24 hours, IOTA is the top performer gaining 17 percent and pushing its market cap to $7.11 billion. Anyway why not?  This coin is solidifying its stand as a pioneer and a facilitator of a world where IoT dominates.

As such, many investors consider IOTA a long term investment and it is not surprising that many exchanges as Huobi are realizing this and listing IOTA further fueling the current rally.

Considering our previous stance, traders should consider looking for under valuation in lower time frame and buy IOTA. Immediate targets are fixed at $3 and $4.5.

The post (Buy IOTA, Litecoin and NEO) IOTA, Stellar Lumens, NEO, Litecoin, EOS: Technical Analysis for May 4, 2018 appeared first on NewsBTC.

Young New Zealand Man Spared Jail for Dealing Drugs With Bitcoin

Young New Zealand Man Spared Jail for Dealing Drugs With BitcoinThis week, Elias Valentin Smith, a 20-year-old man from New Zealand, successfully appealed his prison sentence for drug dealing with bitcoin as a teenager. This was despite the fact that the court system considered the use of bitcoin as a sign of criminal sophistication. Also Read: Bitcoin Is Not Used by Organized Crime Says Hong […]

The post Young New Zealand Man Spared Jail for Dealing Drugs With Bitcoin appeared first on Bitcoin News.

Young New Zealand Man Spared Jail for Dealing Drugs With Bitcoin

This week, Elias Valentin Smith, a 20-year-old man from New Zealand, successfully appealed his prison sentence for drug dealing with bitcoin as a teenager. This was despite the fact that the court system considered the use of bitcoin as a sign of criminal sophistication.

Also Read: Bitcoin Is Not Used by Organized Crime Says Hong Kong Government

Not Dark Enough Net

Young New Zealand Man Spared Jail for Dealing Drugs With Bitcoin Last month, Elias Valentin Smith of North Shore, Auckland, was sentenced to two years and three months in jail for fourteen drug-related charges by the Auckland District Court. On Tuesday his lawyer convinced the High Court that jail time was too harsh a punishment for the young man and the sentence was shortened to just eleven months under house arrest, as the New Zealand Herald reports.

Although eventually withdrawing the prison sentence, the Auckland High Court was not open to the idea that the then teen was not old enough to understand the severity of his actions, in part because of the maturity the judges thought is needed to use bitcoin. One judge asked: “Would a young gang prospect on the East Coast of the North Island, who is looking at prison time for methamphetamine, accept that someone who was purposing drugs on the dark net and paying in bitcoin was not worldly wise and naïve?” Another judge added that “covert use of new technologies to break the law has its own level of sophistication”.

Operation Tiger

Young New Zealand Man Spared Jail for Dealing Drugs With BitcoinDespite the use of the dark net, the police got wind of Smith with fairly unsophisticated means. Investigators were alerted to the actions of the then high school senior by the New Zealand customs service that found several packages from abroad containing drugs addressed to the teen and his friend, which he got in the business, starting in October 2015.

Smith was arrested in November 2016 after the police raided the teen’s room at his parents house as part of what they called Operation Tiger. The police reportedly found in his room a set of scales and a small amount of drugs (including methamphetamine and lysergic acid – a precursor for LSD). His mobile phone was also seized and the police said it contained text message communications with prospective drug buyers, describing his products and offering a discount for bulk sales. The police also got its hands on several documents showing Smith had invested in bitcoin.

Should the judge have spared this young man from going to jail? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

The post Young New Zealand Man Spared Jail for Dealing Drugs With Bitcoin appeared first on Bitcoin News.

Ethereum price analysis – Heading towards $850

  Ethereum price continued rising along the uptrend line that has been evident since the second week of April, to score a day high of $770 during Thursday’s trading sessions so far. The market’s bulls managed to break through the resistance around $713.24 on Wednesday, as we expected during our previous Ethereum price analysis. Chances are high that we can see the price of ether continue rising, especially that the next significant resistance lies around $849.08, as we will see later during our analysis. However, can we expect a downwards price correction attempt to occur, before the market’s bulls can

 

Ethereum price continued rising along the uptrend line that has been evident since the second week of April, to score a day high of $770 during Thursday’s trading sessions so far. The market’s bulls managed to break through the resistance around $713.24 on Wednesday, as we expected during our previous Ethereum price analysis. Chances are high that we can see the price of ether continue rising, especially that the next significant resistance lies around $849.08, as we will see later during our analysis.

However, can we expect a downwards price correction attempt to occur, before the market’s bulls can push the price of ether to higher levels?

“Bullish Crossover”  of the Moving Averages on the 4 hour ETHUSD chart:

Let’s examine the 4 hour ETHUSD chart from Bitfinex, while plotting the 50 period SMA (green curve), the 200 period SMA (red curve), and the MACD indicator as shown on the below chart. We will maintain the Fibonacci retracements  we plotted during an earlier analysis, which extend between the low recorded on October 23rd, 2017 ($273.50), and the high recorded on January 13th, 2018 ($1,424.06). We can note the following:

  • After dipping temporarily below the upwards trend line (blue upwards sloping trendline) on Tuesday and Wednesday, the price of ether soared to break through the resistance around the 61.8% Fib. retracement ($713.24). Right now, the next significant resistance lies around the 50% Fib. retracement, which corresponds to the $849.08 price level, so even if a downwards price correction attempt becomes temporarily active, it is highly likely for the price of ether to continue rising towards this level.

 

  • The 50 period SMA has crossed above the 200 period SMA (bullish crossover) as highlighted on the above chart. This reflects the current bullish sentiment of the market.

 

  • The MACD indicator is conveying a few bullish signals. The blue MACD line has crossed above the red signal line. The MACD line is sloping in an upwards direction and its value is in the positive territory.

 

  • Since April 7th, the current bullish wave has been characterized by bullish bursts followed by downwards price correction attempts. These cycles have been guided by the upwards trendline that always acted as a rising support level that prevents the downwards price correction attempts from pulling the price of ether below its level. However, ethereum price dropped temporarily below this rising support level during last Tuesday’s and Wednesday’s trading sessions. As such, we can expect a brief price correction attempt to pull ethereum price downwards again near $713.24, before rising again towards the resistance around $849.08. There are 3 reasons for this:
  1. Ethereum price is facing a minor resistance level near $770 as evidenced from historical charts
  2. The Stochastic’s value is currently near 92 (>80)
  3. The RSI’s value is currently 76 (>70)

Williams’s Alligator’s mouth is “open and eating” on the 1 day ETHUSD chart:

Now, let’s examine the 1 day ETHUSD chart from Bitfinex, while plotting the Ichimoku Cloud, the MACD indicator, and the Williams Alligator’s SMAs, as shown on the below chart. We will also keep the Fib. retracements we plotted above. We can note the following:

  • A very long bodied bullish candlestick has been formed today after the resistance around the 61.8% Fib. retracement was breached, which reflects how this level has been greatly resisting advancement towards the North.

 

  • The Ichimoku Cloud is green (bullish), so we can expect that the market sentiment is mostly bullish especially during the next 2-3 weeks, noting that Ichimoku Cloud is shifted 26 period (days) into the future.

 

  • The Williams Alligator’s SMAs are exhibiting a bullish alignment, so the alligator’s mouth can be said to be “open and eating” in the bullish direction.

 

Conclusion:

As per analysis of the 4 hour and 1 day ETHUSD chart, the most logic scenario is to see a downwards price correction attempt becomes temporarily active for a few hours, before we can see ethereum price head towards $849.08 during the next few days.

Charts from Bitfinex, hosted on Tradingview.com

 

PR: Former Chief Compliance Officer from Blackrock, Inc. Joins Genesis Mining as Chief Compliance Officer

Bitcoin Press Release: The Cloud Mining Leader Sets Example for the Industry With Commitment to Compliance Hong Kong, April 29 – Genesis Mining, the world’s foremost cloud mining provider, today announced that Shah Hafizi is joining its team as the Chief Compliance Officer and Americas General Counsel. Shah comes to Genesis Mining from BlackRock, Inc. …

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Bitcoin Press Release: The Cloud Mining Leader Sets Example for the Industry With Commitment to Compliance

Hong Kong, April 29 – Genesis Mining, the world’s foremost cloud mining provider, today announced that Shah Hafizi is joining its team as the Chief Compliance Officer and Americas General Counsel. Shah comes to Genesis Mining from BlackRock, Inc. where he served as Chief Compliance Officer overseeing technology and digital ventures.

Marco Streng, CEO and founder of Genesis Mining, has these words to say about the news;

“I am excited to leverage Shah’s years of thought leadership to contribute to the conversation around cryptocurrency regulation and underlying infrastructure and services. His experience building compliance programs for some of the world’s largest companies will be an asset to the team,”

Shah brings a wealth of institutional knowledge from past  roles at UBS AG, D.E. Shaw & Co and public service as a regulator at the U.S. Securities and Exchange Commission. As an early adopter of cryptocurrency, he brings a unique perspective to regulatory discussions and collaborations.

Shah will be leading regulatory and government affairs and engagements globally. He will also help shape standards, best practices, and compliance frameworks for Genesis Mining and the broader blockchain industry.

Shah explains.

“We aim to lead the industry by collaborating with regulators and governments to form a clear regulatory framework for our users and the greater community,” Shah explains.

About Genesis Mining
Founded in 2013 Genesis Mining is one of the world’s largest hashpower providers with over 2 million customers globally. With data centers around the world, including centers in Iceland that run on 100% renewable energy, Genesis Mining is a leader in the blockchain movement, and works to help drive positive growth in the industry.

Learn more about Genesis Mining here – https://www.genesis-mining.com/
Find Genesis Mining Facebook – https://www.facebook.com/GenesisMining
Follow Genesis Mining on Twitter – https://twitter.com/GenesisMining
Check out the official Genesis Mining Instagram –https://www.linkedin.com/organization/5095028/
Read about Genesis Mining on Medium – http://www.medium.com/@genesismining
Genesis Mining LinkedIN – https://www.linkedin.com/organization/5095028/

Media Contact

Contact Name: John Drebinger
Email: [email protected]
Location: Hong Kong

Youtube: https://www.youtube.com/c/Genesismining_official

Genesis Mining 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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Cryptocurrency Exchange BitGrail Reopens Doors, Closes Three Hours Later

Yesterday morning, BitGrail cryptocurrency exchange announced its reopening via Twitter. Unfortunately, just three hours later, exchange users saw an abrupt closure of services once again. On May 2, BitGrail, a cryptocurrency exchange based in Italy, announced to its customers that the exchange was resuming services after a several-week hiatus. Unfortunately, just three hours later, BitGrail tweeted: “We have temporarily disabled the

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Yesterday morning, BitGrail cryptocurrency exchange announced its reopening via Twitter. Unfortunately, just three hours later, exchange users saw an abrupt closure of services once again.

On May 2, BitGrail, a cryptocurrency exchange based in Italy, announced to its customers that the exchange was resuming services after a several-week hiatus. Unfortunately, just three hours later, BitGrail tweeted:

“We have temporarily disabled the BitGrail exchange pending further notice.”

Around the same time, the exchange posted a more thorough explanation of the circumstances surrounding the closure on its website:

This morning, following the re-opening, we were notified of a deed by the court of Florence requesting the immediate closure of BitGrail and this situation will persist until a decision is made by the courts, about the precautionary suspension request made by the Bonelli law office on behalf of a client.”

BitGrail said that the aforementioned court decision is slated to be made two weeks from now, on May 16. “Even though we don’t agree with this decision, we are obliged to respect the law and to suspend any BitGrail business immediately,” the exchange wrote.

According to reports, BitGrail was apparently robbed of approximately $187 million worth of Nano tokens in February. The exchange was one of the main portals for trading the Nano token, previously known as RaiBlocks.

The claim of a hack, made by founder Francesco Firano, was met with skepticism. In January the exchange put a halt to all withdrawals and deposits of Nano, Lisk, and Crytpoforecast tokens. Shortly thereafter the exchange announced new identity verification and anti-money laundering protocols, as well as the possibility of blocking non-European users.

BitGrail Hack

As noted, BitGrail fell victim to an apparent hack earlier this year on February 8, resulting in the loss of 14 million Nano coins worth $187 million at the time. Now, investors who lost their funds have filed a petition asking an Italian court to declare the cryptocurrency exchange bankrupt.

Last week, Italian law firm BonelliErede filed a bankruptcy petition on behalf of BitGrail creditor Espen Enger, who allegedly was in contact with several hundred victims. According to a Medium post, the BitGrail victims were concerned that their assets would be depleted further, which was why they ‘prefer an immediate accounting of BitGrail’s assets in bankruptcy.’

The post reads: “We ask that those who disagree with the decision to file for bankruptcy to respect their fellow victims and to refrain from acting in ways that could undermine the claims of their fellow victims. Most importantly, it is important to respect the judicial process. The victims of the BitGrail exchange will be most effective in pursuing their interests when they are unified.”

In March, BitGrail vowed to refund the victims. The cryptocurrency exchange proposed issuing a newly-minted BitGrail Shares (BGS) token, which it said would cover 80% of the losses. The remaining 20% would be covered in Nano tokens (XRB), according to BitGrail. As part of this arrangement, however, victims would be required to sign an agreement forgoing any future legal action against the exchange.

In April, U.S. law firm Silver Miller filed a lawsuit (now the second against BitGrail) on behalf of Alex Brola, who invested $50,000 into Nano in 2017. In its lawsuit, Silver Miller sought to have the altcoin conduct a hard fork that would ‘reset’ its amount to where it was before the theft took place. In response to the lawsuit, the Nano Foundation announced it would sponsor a legal fund to provide all BitGrail victims with proper legal representation.

Featured image from Shutterstock.

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