Day: May 29, 2018

Despite EOS critical vulnerabilities found by Chinese Internet Security Company, 360, prices are making a comeback. Of course, this is encouraging for hodlers who have seen their initial investment shrink by more than 70 percent in the last five months. I remain positive, first on EOS and Tron who have positive developments in the next two or three days, and IOTA because of that strong bullish engulfing pattern. On the light side though, if today’s Stellar Lumens and Litecoin candlesticks end up higher then we shall buy on dips from tomorrow.

EOS Price Analysis

EOS Daily Chart by Trading View

What a bummer! After all those EOSIO hype about security and what not, a Chinese Security Company 360 found a black hole within EOS architecture. In their chilling description, the security firm said the vulnerability is “epic” and a talented hacker could literally take over the network, mine coins and even steal your user profile.

3/ 360: attacker can deploy smart contracts w/ malicious code to EOS super node, which will execute the contract and trigger a security bug. Once the contract is included in a new block, all full nodes including backup nodes, exchges, wallet nodes, are all susceptible to attack.

— cnLedger [Not giving away ETH] (@cnLedger) May 29, 2018

What they mean to say is that you would have been exposed if not for 360. Of course, considering the proportion of this systemic risk, EOS and Dan Larimer were quick to assure the community that the issue has been patched. If not, they say, the upcoming mainnet launch shall not take place. Now, here is the thing. Ethereum has the same thorny issue with smart contract code and things like those but they have a bigger development team than EOS. If it’s true that they did solve that in a record two hours, then they do have a super team.

Price wise, with relatively high volumes, EOS prices seems to be fighting bears. Well, notice that while bears are technically in charge, our previous trade plan is panning out okay. We might even see a recovery as June 2 mainnet launch nears. At the moment though, our trade plan remains constant. EOS supporters have to wait for a breach and close above May 24 highs at $13. On the other side, conservatives should wait for up thrusts above $14.

Litecoin (LTC) Price Analysis

Litecoin Daily Chart by Trading View

If Bitcoin is the crypto Gold and a store of value as proponents shill it, then Litecoin runs the retail payment section. It is and continues to show intention of completely taking over as a means of exchange now that Crypterium app is availing LTC to their customers. Like most cryptocurrencies, Litecoin doesn’t have their own payment solution.

Litecoin is the 4th cryptocurrency that we have added to the #Crypterium app. LTC is currently in test mode and will be fully available in a week. We have also added Australian dollar as a balance currency. Learn more here: https://t.co/bbxu2ytaEM pic.twitter.com/K3dJ67R1So

— Crypterium (@crypterium) May 14, 2018

Litecoin is simply a solution for cross border payments like Bitcoin but with low fees, people ready to pay in LTC. Crypterium is available at Google Store and App Store. Through it, users can easily buy stuff using LTC via a QR Coder Scanner and even view their balance in USD, GBP, Euro and AUD.

As I reiterate, our emphasis and short term trend depended mostly on whether bears will have confirmed May 28 candlesticks or if buyers would jump in. Well, buyers did jump in at support and we now have a nice double bar reversal candlestick with high trade volumes. In my view, buying Litecoin at current prices with stops below $110 would be catching the train earlier. It’s also riskier. However, if you want to be sure then wait and observe today’s price action. Any confirmation with higher highs towards $130 is likely to usher in Litecoin buyers.

Stellar Lumens (XLM) Price Analysis

Stellar Lumens Daily Chart by Trading View

As usual Stellar Lumens news are hard to come by. Releases or investor updates come in far and between but regardless, it seems like prices are cuing in just like other coins. Obviously, we have a double bar bull reversal pattern in the midst of bears and that’s why it’s not prudent to jump right away and buy. Today shall define if indeed yesterday’s appreciation and volume spike was buying activities or short coverings. Thereafter, and assuming today’s candlestick is bullish, I would recommend buying on dips in lower time frames.

Tron (TRX) Price Analysis

Tron Daily Chart by Trading View

Different exchanges are flocking to Justin Sun and the Tron Foundation. In a Tweet, Justin Sun announced that OEX shall be supporting their Tron mainnet launch. As it has been the case, this is good news. OEX is a special cryptocurrency exchange that prioritizes user data security and speed of order settlement. With TRX amongst the coins exposed to OEX clients, expect general trade volumes to increase.

In our previous analysis, we laid emphasis on patience because of technical events happening in next 72 hours or so. Now, as the chart shows, buyers appear to be taking center stage,charging forward as they seek to recoup May 28 losses.

In my view, like EOS and Lumens, waiting for a confirmation can be a better strategy than buying right away which by the way you can. If that’s the case, safe stops at 5.5 cents or below May 29 lows would pan out okay assuming today prints higher. Nevertheless, conservatives should wait for a clean break above 7.5 cents and consolidation just like our assertion in previous trade plans.

IOTA (IOT) Price Analysis

IOTA Daily Chart by Trading View

If you have been following IOTA’s Trinity wallet then just know that their mobile version audit is complete.

Trinity Audit Complete!!!!! https://t.co/x3lF2sNjVI #IOTA #IOT #Tech #m2m

— /r/IOTA (@Reddit_IOTA) May 28, 2018

On the chart, buying IOTA at current prices with stops at May 29 lows is but a nice idea. Notice that yesterday’s volumes was above average and the resulting bullish engulfing candlestick completely eclipsed the last five bearish candlestick meaning buyers are indeed in this trade. Like before, buyers should target May’s highs at $2.6 with stops at $1.28 or there about.

The post Time To Scoop Up Some altcoins Off the Floor: IOTA, Tron, EOS, Litecoin and Stellar Lumens Price Analysis (May 30, 2018) appeared first on NewsBTC.

Bitcoin Press Release: DataBroker DAO is a blockchain solution to one of the fastest growing lucrative industries in the world, and there is less than one week left to participate in the DataBroker DAO public token sale which ends May 26th, 2018, 4pm CET.

May 22nd 2018, Dubai, UAE – The Internet of Things (IoT) market value is expected to explode by 2019, the estimated worth of sensor data at that point is 1.2 Trillion USD, which is an eye-watering figure. Fascinatingly, due to centralized systems dominating the market, and the majority of IoT sensor data being locked away with the sensor owners, roughly 120 Billion USD worth of ‘sought for others’ data generated will also be locked away.

Securing More Than Money

DataBroker DAO is the blockchain remedy that goes beyond just unlocking this financial figure. It is a platform with the ability to improve the quality of IoT sensor data, allow public or private entities to monetize their data at their consent and, as a bonus, provide a unique way to enhance the economic and social developments on ‘Smart Islands.’

DataBroker DAO attended a two-day Smart Island World Congress that brought together experts from across the globe, the purpose of which was to discuss and explore the solutions to challenges facing islands. Islands such as Aruba and Barbados have been keen to see how the platform can help them manage the specific challenges they face including waste management and lack of sensor data.

DataBroker DAO Blockchain Solution Architect Tom De Block had this to say on why the platform is the solution that can provide island societies with a new technological, social and economic empowerment:

“Islands are the perfect playing ground for our solution. Unlike cities, where some of the competencies are regional or even national, an island stands alone. Making it a lot easier to get things done. That is one of the reasons why we will gladly work together with all interested islands to deploy white labeled front ends of the DataBroker DAO marketplace.”

DataBroker DAO Platform and Data Quality

Assuring that the data available on the DataBroker platform is high quality is of paramount importance; in response to masses of feedback from community members, token holders and potential users, Databroker DAO upgraded the platform, addressing the concerns.

The platform has a “token curated registry” in which users will have to stake the native token DTX against any data they wish to sell on the platform, essentially requiring users to put their money where their mouth is.

Furthermore, the “discovery release” or the Alpha V2.0 upgrade carries with it a new range of sensors located in Belgium. Designed to act as the interface for users to browse and search data built on the token curated registry; furthermore, DataBroker DAO created a new decentralized application (DApp) that bolsters the effort by discovering new and exciting data sets. Take a look atthis explainer video to find out more.

DTX Token Sale

The token sale for the platform’s native token DTX began April 26th, 2018 and ends May 26th, 2018 4pm CET. The rate of exchange during the DTX token sale is 1 ETH per 4000 DTX; the token will be available for public trading May 30th, 2018 on the CoinFalcon exchange.

Individuals, governments, companies, researchers, any entity of any size can benefit from IoT sensor data. To find out more take a look at the relevant links below.

Visit the DataBroker DAO Official Site – https://databrokerdao.com/
Check out the Whitepaper –https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf
Chat on Telegram – https://t.me/databrokerdao
Bitcointalk – https://s3-ap-southeast-1.amazonaws.com/bprbfpv/wp-content/uploads/2015/07/15204554/index.php_.png?topic=2113309.0
Follow on Twitter – https://twitter.com/DataBrokerDAO
Like on Facebook – https://www.facebook.com/DataBrokerDAO/
Read the Medium – https://medium.com/databrokerdao
Follow the development live on GitHub – https://github.com/DataBrokerDAO
Check out the SubReddit – https://www.reddit.com/r/DatabrokerDAO/

Media Contact
Contact Name: Frank Van Geertruyden
Contact Email: [email protected]

DataBroker DAO 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. The DataBroker DAO token sale is closed to US participants and participants of all countries in which ICOs are illegal.

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This article originally appeared on Bitcoin Magazine.

The co-founder of Wikipedia has once again publicly denounced cryptocurrency. James Wales told a European blockchain conference that the entire digital currency space was in a bubble that was certain to pop.

James Wales: “Right Now, We are in a Bubble”

The Wikipedia co-founder was speaking at a blockchain conference held in Berlin. During his ‘top secret’ presentation at the Blockshow event today, Wales slammed cryptocurrency, stating that it was in a bubble that would inevitably pop. According to MarketWatch, he said:

“Right now, we are in a bubble. The crypto world is absolutely, definitely in a bubble. I don’t think there’s many people who would deny that.”

The co-founder of the planet’s largest free reference site went on to state that the cryptocurrency industry was lacking ‘real journalism’ and that the entire sector should be prepared for a shock when the market eventually crashes.

According to another report of the conference in tech publication SeekingAlpha, Wales went on to indicate that he had no idea when the bubble would burst:

“The thing about bubbles is that you never know when they’re going to end.”

Despite their co-founder’s pessimism, those behind the Wikipedia platform are still happy to accept donations in Bitcoin. The page dedicated to funding methods reads:

“As of late April 2018, our Bitcoin processor has deprecated their services, and we are searching for alternatives. We apologize for the inconvenience, and hope to have the Bitcoin option available again soon.”

Also today, Wales spoke to the U.K.’s Evening Standard about Brexit and the opportunity it presents the British Isles to attract technology startups to the nation. He stated that it was important that government ministers did not turn London into a ‘hostile place’ for tech specialists to work in after the scheduled 2019 split with the EU.

He went on to express concerns that the likes of Berlin could offer a more welcoming environment for developers and startups alike. However, the likes of CryptoUK are working towards ensuring that British regulators can create a framework that both protects investors whilst allowing the rapidly evolving industry to continue to innovate on their shores.

Wales joins the likes of Warren Buffet, Charlie Munger, and Jamie Dimon in his criticism of cryptocurrencies. However, unlike these household names of traditional finance, he has yet to resort to petty, baseless name calling to voice his scepticism of the digital currency space.

Meanwhile, there remains several prominent names in the crypto bulls camp. Tom Lee, the Fundstat co-founder believes that Bitcoin will reach $25,000 by the end of 2018 and once bullish momentum begins, it will only take a few days to get there.

However, such predictions look minuscule when compared to that of Reddit co-founder Alexis Ohanian. Earlier this month, he stated that he thought $15,000 per Ether coin and a return to Bitcoin’s all-time highs of almost $20,000 were likely. That would represent around a 27 times increase on today’s ETH prices.

Featured image from Shutterstock.

The post Wikipedia Co-Founder: “The Crypto World is Absolutely, Definitely in a Bubble” appeared first on NewsBTC.

This article originally appeared on Bitcoin Magazine.

The U.S. Securities and Exchange Commission has charged the company behind an initial coin offering (ICO) and its president with securities fraud.

Founder of McAfee Antivirus and paid shiller, John McAfee, announced a new fiat currency today, backed by crypto. In a radical move against long roadmaps, the McAfee Coin is set to launch, without prior warning, in less than a month.

McAfee Shills Himself

McAfee, self-proclaimed ‘Father of the Privacy Movement,’ has his face featured on four of the seven notes. The One McAfee Redemption Unit note features McAfee surrounded by five women. The notable individual chosen for the 50 Redemption Units note is Roger Ver, founder of Bitcoin Cash, known affectionately as ‘Bitcoin Jesus.’

“No hoax. The “McAfee Redemption Unit” is real and coming in 26 days. The graphic is low res – don’t want to give much away yet. Printed on currency paper, holographs on both sides, serialized, linked to the blockchain, redeemable, convertible, collectible,” McAfee tweeted.

SmartPayMINT offer notes and coins that contain access to specific amounts of cryptocurrencies. They use near field communication (NFC) to transfer information and feature a QR code of the relevant public key. These coins are an alternative to hardware wallets, such as the Ledger Nano, which can store multiple cryptocurrencies. However, their website has been offline since May 15 and little information appears to be available.

. @SmartPayMINT sent this. What's odd is that tomorrow night I am going to make an announcement of the new "McAfee Coin", based on a radical new concept: Fiat currencies (collectible) backed by crypto – the reverse of what banks are attempting. Seriously. pic.twitter.com/3uTHHKG18M

— John McAfee (@officialmcafee) May 29, 2018

It is unclear how much the Redemption Units will be worth as they attempt to merge cryptocurrency and the muggle world of fiat. They appear to represent time with McAfee. The note states that if the owner appears at the Redemption Office in Mexico between 1 p.m. and 3 p.m. they will be allocated a time and place to meet with McAfee himself. The length of this meeting will be related to the amount of McCurrency held.

The new crypto-fiat-currency may play a role in McAfee’s currency independence movement, which was formed as a response to his perceived war on cryptocurrencies by banks. Their aim is to separate money from the state, giving the public more control over how they transfer value. He is urging followers to sign the Declaration of Independence whereby signatures will be recorded on the Ethereum blockchain.

“We are not declaring Independence from State Controlled Currency — We are declaring Controlled Currencies through fiat have been rendered Obsolete. This Declaration of Currency Independence is a direct response to the continued manipulation and destruction that stems from the deliberate degradation of Value across the whole of humanity,” the declaration states.

The Bridge. Connecting the Past, Present and Future. #CurrencyIndependence #blockchain #future #currency pic.twitter.com/UTlgLrxgav

— SmartPayMINT (@SmartPayMINT) May 26, 2018

McAfee’s recent predictions include Bitcoin Private surpassing $200 (currently $22) and EOS hitting $36 (currently $12) by the end of July. He also maintained his position that the Trump-Kim Jong-un summit will happen even though it looked like it was cancelled when Trump sent a letter calling it off. However, U.S. President Donald Trump recently tweeted that talks are in place to put it back on the table.

In November, McAfee raised the stakes on his famous bet, stating that if the price of Bitcoin is not $1 million by 2020, then he will eat his own penis on live television. In response to this bet, a website has been set up tracking the progress and publishes daily live updates on Twitter. Currently, Bitcoin is 29% below target meaning that McAfee, and TV viewers in general, should be feeling quite nervous.

NewsBTC would like to point out that we do not seek to understand or explain the workings of McAfee’s mind. To this end, he has used the words ‘no hoax’ and ‘seriously’ so we have decided to take him at full value. However, as always, do your own research.

Featured image from Flickr via Gage Skidmore.

The post ‘No Hoax’ McAfee Coin Could Turn Fiat on Its Head appeared first on NewsBTC.

A lot of people showed an interest in cryptocurrency back when Bitcoin was first created. Despite its niche appeal, it was incredibly easy to mine in rather large quantities. Unfortunately, a lot of people have since lost their Bitcoin holdings. One particular holder lost close to $60 million worth of Bitcoin due to a lost hard drive.

Securely Storing Bitcoin is Important

Considering that Bitcoin has been around for over nine years now, it is safe to assume that not all of the minted coins are still in circulation today. Given the vast number of hacks, thefts, and lost currencies over the years, the actual Bitcoin supply is closer to the 15 million mark than the 17+ million which have been mined to date. A scarce currency only becomes more scarce over time, especially when users do not take the best security precautions.

While Bitcoin-related hacks and thefts make most of the headlines, they are not necessarily responsible for the largest losses in the cryptocurrency world. Rather, it seems human error is the main cause of many Bitcoins having been lost over the years. Granted, storing the world’s leading cryptocurrency is not necessarily all that straightforward, but things have improved dramatically in the past few years.

Even so, users who have ever mined Bitcoin or any other cryptocurrency will need to take the proper precautions. Storing funds in a safe and secure manner requires one to pay attention at all times. Unfortunately for James Howells, things did not work out in that manner. While he stored a Bitcoin wallet on a hard drive for some time, the drive was thrown out “accidentally“.

That in itself is not unusual, but it seems Howells had done a lot of things right up to that point. Rather than throwing the hard drive out with his old computer, he tossed it after storing it in a desk drawer. It had been in there with another drive which should have been thrown out, yet it seems this is where the mix-up occurred. Considering that the drive in question held the keys to a Bitcoin wallet containing around 7,500 BTC, Howells’ losses amount to roughly $60 million at current prices.

Recovering such hard drives always proves rather difficult, for obvious reasons. In this case, it is a bit unclear where the hard drive ended up, especially since the mistake wasn’t noticed until a few weeks after the fact. It is not the first time issues like this one have arisen, as various Bitcoin holders have suffered similar setbacks in the past few years. Storing a Bitcoin wallet securely for longer periods of time is difficult, especially when one doesn’t label things correctly or fails to use the proper hardware.

All of this further confirms that Bitcoin has always been relatively popular among speculators and investors. Unfortunately, it also means millions – if not billions – of dollars worth of Bitcoins have been lost throughout the years, mainly due to hard drives and USB sticks getting thrown out, misplaced, or malfunctioning. In this era of cryptocurrency hardware wallets, taking security more seriously has become easier, but still requires people to pay close attention.

In a bid to spread financial inclusion to a largely unbanked population, the Union Bank of the Philippines (UnionBank) is piloting real-time retail payments on the Ethereum blockchain with five rural banks in Mindanao, the second largest island in the country.

Connecting the unbanked

According to local news outlet Philippine News Agency (PNA), the payment system developed by US-based startup ConsenSys in collaboration with UnionBank will be taking aim at an estimated 35 million unbanked Filipinos, linking rural banks to the national financial network.

In 2017, Finance Secretary Carlos G Dominguez III described the present financial inclusion problem to the Manila Bulletin: “Over 86 percent of Filipinos remain unbanked to this day. That is an intolerable ratio of the population excluded from the financial mainstream… We cannot have a new economy with an ancient banking system.”

UnionBank Chair D. Justo Ortiz said that “the i2i Project is a real-time, cost-effective and secure retail payment system in the blockchain”, adding that the technology can help “crack the hole of financial inclusivity”.

Asia-Pacific ConsenSys Solutions lead Aiai Garcia gave further details on the pilot project, saying that the collaboration would be utilizing the Kaleido platform, which itself is the result of a partnership between Amazon and ConsenSys.

Kaleido is a brand new Blockchain Business Cloud, designed to speed up and simplify any enterprises’ attempts to utilize blockchain technology and is the first Software-as-a-Service that features Ethereum Packages Geth and Quorum.

Currently, the rural banks in mention are ‘retail banks’ that operate in the Filipino countryside and are often overlooked by the big banks and financial institutions as they serve far smaller communities.

The issue that arises from this is that these rural institutions have no links to the countries interbank network nor are they member of BancNet, the largest inter-bank network in the Philippines based on “the number of member banks and annual transactions” it has.

The blockchain pilot reduces the costs of connecting rural banks with BancNet or SWIFT services, otherwise requiring them to spend hefty sums on data centers and cyber security infrastructure, according to UnionBank technology and operations chief Henry Aguda. He also noted that USD 3 million had been invested into Project i2i.

Aguda also hopes to bring in over 100 banks from rural territories in the Philippines before 2019, with an even broader vision to connect all 500 or so rural-banks to the blockchain.

He added: “With this [blockchain platform], they don’t have to spend anything. They just have to load the application i2i in their computers, tablets, or smartphones then they can transact bank-to-bank connected to blockchain.”

Blockchain-related revelations are coming fast from the Philippines. Bitcoin News previously reported that the Filipino ‘Silicon Valley’ had given a firm go-ahead to the countries first ten crypto and blockchain exchanges. Prior to that, announcements of a ‘special economic zone‘ being established for said companies was reported by Bitcoin News in early May.

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BitGo has announced it hired Bloomberg Tradebook head Josh Schwartz as its new vice president of sales.