Day: July 19, 2018

BitFury partner Hut 8 diversifies Bitcoin mining competition with capacity upgrade

FOMO Moments

Crypto land is correcting this morning; top altcoins are Stellar, Cardano, Dogecoin, Bytom and Kin.

The bull run has slowed down and a pullback has occurred in crypto land. Markets hit a six week high of a shade below $300 billion before retreating back to around $290 billion as short term traders took profits.

Bitcoin topped out at $7,530 before retreating back to $7,400 where it has been steadily holding for the past 24 hours showing no further gains. Ethereum could not hold $500 and has dropped 3.7% on the day back to $480 where it currently trades. Altcoins are predominantly red at the moment with only one or two still climbing. The best performing one in the top 25 right now is Stellar Lumens.

According to Coinmarketcap XLM is still trading higher on the day with gains of 10%. Stellar is trading at $0.312, up from $0.285 this time yesterday. Over the past week XLM has made a monumental gain of 74% from $0.181 this time last Thursday. On the month gains are around 34% from $0.235 this time last month. Against Bitcoin XLM is up 11% on the day to 4254 satoshis. Weekly gains on BTC are even better at 43% from 2966 sats this time last week.

There are a number of things driving momentum for Stellar Lumens at the moment. Firstly the general market upswing over the past few days has boosted all cryptocurrencies. Secondly the Coinbase announcement mentioning XLM as one of five altcoins it may be listing in the future. Thirdly the Islamic certification and fourthly the IBM partnership and exploration of cross border payments;

Excited to explore stable coins for settling cross-border payments with @strongholdxchg and @StellarOrg – Read @JesseLund's blog #blockchain https://t.co/P4vMcfb2l8

— IBM Blockchain (@IBMBlockchain) July 17, 2018

Binance currently dominates XLM trade with 40% of the total. Trade volume has shot up over the past day from $90 million to $275 million as investors load up on cheap lumens for good times ahead. Stellar is a solid 6^th in the crypto charts with a market cap a touch under $6 billion.

Total crypto market capitalization has fallen on the day by 1.7% in what appears to be a natural correction after several days of solid gains. The level is now around $290 billion with trade volume at around $19 billion, the highest it has been for over a month. Other altcoins gaining at the moment include Cardano up 5%, Dogecoin 7% higher, Bytom rising 6% and the top coin of the moment is Kin with a 12% pump.

More on Stellar can be found here: https://www.stellar.org/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

The post Cryptocurrency Trading Update: Stellar (XLM) Defies Market Pullback appeared first on NewsBTC.

Bitcoin Press Release: The BitKop Blockchain Green Consensus Action Signature Event, promoted by the BitKop trading platform and supported by their strategic partner TokenSky, kicked off in Tokyo, Japan on July 4.

July 12, 2018. Tokyo, Japan:  The event, which strongly advocated for the protection of the industry through a one-line declaration serving as the tagline: “Anti- unrealistic coins, Anti- scam coins, Anti-hacking, Purify the blockchain environment”, was designed to raise awareness of the importance of the blockchain industry’s security.

In addition to CSDN founder Jiang Tao, TokenSky founder Wang Zishang, Cybex and Longhash founder Gong Ming and EKT CEO Zhou Xun, many other industry leaders expressed their support for the event.

BitKop proposed that the blockchain industry return to its original mission of creating value. This is not just an empty slogan. It is more important to clean up the core of what makes the industry work – the exchange mechanism. The BitKop trading platform has been gradually optimizing and perfecting the functionalities behind all links, including coin launch, asset custody, asset clearing and dealmaking, in a series of practical moves to better safeguard the interests of investors.

The BitKop Exchange

The BitKop trading platform currently has more than 200,000 registered users, over 80,000 of whom hold KOP currency, while daily average transaction volume has exceeded 1,000 BTC.

BitKop also believes self-discipline is key to this mission.

Consequently, BitKop asked all those in attendance to sign the declaration supporting the tagline, with more than a thousand event participants stepping forth to do so.

Led by BitKop, industry leaders at the event read the declaration of the consensus action out loud in support of the campaign.

Sifting the true from the false in the blockchain industry plays a key role in the application of new technologies, the recognition and embodiment of value and the benefits for the community. It is not only an issue the regulators have to face, but also depends on the joint efforts of all the stakeholders to protect the interests of investors and ensure the security and safety of the industry, all of which reflects the platform’s principles of security, simplicity and efficiency.

Visit the Website: https://bitkop.com
Follow on Twitter: https://twitter.com/Bitkopexchange

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Bitmain is tripling the size of its Israeli development center located in Ra’anana, adding 40 programmers, engineers, and marketing experts to the pre-existing team of 15 people. Bitmain’s Israeli development center was established in 2016, and focuses on operating the ConnectBTC mining pool, developing blockchain technology, and artificial intelligence (AI).

The manager of the Bitmain Israeli development center, Gadi Glikberg, says “There has been huge momentum at Bitmain in the past year, arising from growing adoption of blockchain technology in general and digital currencies in particular. The world may be in a period of relative calm after the great hype of December 2017, but for the major companies in the field this is a golden opportunity to plan, build and grow, and Bitmain has identified the potential of Israeli know-how and capabilities to contribute to the company’s global effort”.

Bitmain is headquartered in Hong Kong and is the biggest Bitcoin mining manufacturer in the world, with a valuation of over USD 1 billion. At the current Bitcoin price of USD 7,300, about USD 91,250 of Bitcoin is rewarded per block and there are 52,560 blocks per year, yielding total annual Bitcoin mining revenue of USD 4.8 billion. This estimate doesn’t account for the transaction fees that miners collect, nor does it account for Bitcoin’s price volatility. It is also estimated that Bitcoin miners spend USD 3.5 billion annually on equipment and electricity consumption, yielding profit margins of 20-30% under the current market conditions.

The pool that the Israeli development center oversees, ConnectBTC, holds 0.2% of Bitcoin’s global hash rate, which is approximately 80 PH/s. Bitmain has much larger pools, Antpool and BTC.com, which currently hold 35% of global hash rate and earlier in 2018 approached 50% of the total Bitcoin mining hash rate. There were some concerns that Bitmain’s dominance over Bitcoin’s mining hash rate made the network overly centralized, which may be why Bitmain’s pools have lost some hash rate recently.

Bitmain is expanding into AI with the Sophon project, which is producing AI chips capable of deep learning by integrating massive computing power and a huge amount of data. Bitmain Product Marketer Allen Tang says, “In the future AI will be everywhere. It will be on cars, it will be on cameras, it will be on servers, in the back end. It’s just like the motor vehicle replacing the horse—it’s a big-time change that can dramatically alter the world. We think that’s a big trend and we need to do that.”

AI technology is being developed with application specific integrated circuits (ASICs), the same sort of chips used for Bitcoin mining. The integration of AI with blockchain technology has the potential to create powerful futuristic technology, and it appears Bitmain wants to be on the cutting edge of this.

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The world’s four biggest auditing firms will join 20 banks to trial a blockchain service for validating public companies’ financial reports.

Key Highlights

• Ethereum classic price corrected lower after trading as high as $18.37 against the US dollar.
• There is a significant bullish trend line in place with support at $17.10 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
• The pair is currently holding the trend line support at $17.10 and the 100 hourly simple moving average.

Ethereum classic price is placed in a nice uptrend against the US Dollar and Bitcoin. ETC/USD is holding an important support above $17.00, which is a positive sign.

Ethereum Classic Price Support

There were sharp gains in ETC price above the $17.50 resistance against the US dollar. The ETC/USD pair broke the $18.00 resistance and traded close to the $18.40 resistance. A high was formed at $18.37 before the price started a downside correction. It declined and broke the $18.00 and $17.50 support levels. However, the downside move found support near a key region at $17.10 and the 100 hourly simple moving average.

More importantly, there is a significant bullish trend line in place with support at $17.10 on the hourly chart of the ETC/USD pair. It seems like the trend line, support above $17.00 and the 100 hourly SMA are important for the current wave. The price bounced back sharply and moved above the $17.40 level. It also broke the 23.6% Fib retracement level of the last decline from the $18.37 high to $17.07 low. The pair is likely to accelerate gains above the $17.50 level. The next resistance is near the 50% Fib retracement level of the last decline from the $18.37 high to $17.07 low at $17.72. Above this, the price could break the $18.00 resistance.

The chart suggests that the price remains in an uptrend above $17.00. Any dips are likely to find buyers near the $17.10 level and the 100 hourly SMA.

Hourly MACD – The MACD for ETC/USD is about to move back in the bullish zone.

Hourly RSI – The RSI for ETC/USD just moved above the 50 level.

Major Support Level – $17.10

Major Resistance Level – $17.72

The post Ethereum Classic Price Analysis: ETC/USD Remains in Uptrend appeared first on NewsBTC.

Bitcoin Press Release: JCASH, the Cryptocurrency that is being issued on the JiojioMe mobile application, is setting the lead on how the advertisers are going to use blockchain technology to engage their target audience. The best part is that all parties, from the users to the business owners and advertisers will get to benefit from using the JiojioMe social platform!

July 11th, 2018. Singapore. The JiojioMe app benefits all parties by allowing the consumers to set their own advertising preferences through their hobbies or interests and indicate their interest in the products being advertised. JiojioMe users can then earn JCASH when they jio (“invite” in Chinese dialect) other users to take advantage of an offer through the app and enjoy any promotional discounts available.

Benefits for Advertisers
Deviating from conventional advertising, advertisers on the JiojioMe app get to tailor their advertisements based on users’ interest and can market their services and products more efficiently to their target audience.Using blockchain technology, JiojioMe is able to analyse consumers behavioural data to identify patterns in consumer spending. Thus, making it possible for advertisers to pay JCASH directly to the users who promote their ads, and be rewarded upon every successful recommendation through its Proof-Of-Activity (POA) consensus. POA is designed for maximum utilisation of the token so advertisers know exactly what they are paying for.

These advertisements may also be tied with other businesses to attract more users and with the right target audience, the advertisers can choose to pay JCASH to users to view their advertisements to increase viewings of advertisements.

Benefits for Businesses
Business may use JiojioMe to gain publicity on their businesses. Through more effective advertising, merchants are set to get more customers to patronize their establishments. The increase in customer retention rate will be a welcomed change for most of the current merchants as it is more cost-effective to retain the customers through the constant rewards available on the JiojioMe app.

The Jio Market is where users may utilise their JCASH to purchase vouchers, promotions, products and services provided by various retail and F&B merchants. This means that JCASH may be used to trade for items of physical value, and with more than 600 merchants on board the JiojioMe app, users are spoilt for choice on the usage for their JCASH.

Blockchain Application in JiojioMe App
JCASH is currently a centralised currency used for JiojioMe in-app transactions. It will transit to a fully decentralised ERC-20 token at the end of the token sale, 9 November 2018. Through Smart Contracts and Application Programming Interface (API), the JiojioMe app will hash transactions to the Ethereum network, these transactions are secure since there is no central entity controlling the blockchain thereby preventing manipulation of the information. The blockchain is used to track behavioural data from consumers’ activities. Through the data anonymisation, companies are able to track behavioural patterns for concise targeted marketing for the masses. This way, JiojioMe will be able to protect the data of all parties within the app, while understanding consumer behaviour.

The Value Of JCASH
The unique aspect of JCASH is that regardless of market sentiment and the value of JCASH, JCASH will still be able to to trade for tangible and realised goods on the Jio Market. POA rewards users with JCASH simply by being active on the JiojioMe app through daily logins, deals sharing and many more. The demand for JCASH is certainly anticipated to increase as users may earn ‘free’ JCASH to change for vouchers/promotions.

The JiojioMe Application, which is available on Google Play and Apple App Store, has more than 100,000 user downloads and over 600 merchants within the application since its incorporation inDecember 2017. With more merchants coming on board, the demand for JCASH will definitely be an unstoppable increase!

Join our World Cup event and win a iPhoneX on our JiojioMe Application today!

Visit the website: https://www.jiojio.io/
Whitepaper: https://s3-ap-southeast-1.amazonaws.com/jio-assets/pdf/whitepaper.pdf
Chat on Telegram: https://t.me/jiojiome
Medium: https://medium.com/jiojiome
App Store: https://itunes.apple.com/sg/app/jiojiome/id1255725245?mt=8
Playstore install: https://play.google.com/store/apps/details?id=com.jiojiome
Twitter: https://twitter.com/hashtag/JiojioMe?src=hash
Facebook: https://www.facebook.com/jiojiome/
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Instagram: https://www.instagram.com/jiojiome/?hl=en

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As was to be expected after a few days of positive momentum, things are returning to normal for all cryptocurrency markets. This unfortunately means all currencies are going through another rough spell of negative market pressure. All five of the top currencies have lost value, with the XRP price facing the biggest setback of them all.

The XRP Price Dips  Briefly

It is evident all cryptocurrencies have to go through a small correction after the sudden bullish trend late last week and earlier this week. Even so, a 5% setback or more is not warranted at this stage either, yet it is what most of the top currencies have to contend with right now. XRP Price watchers have noticed how the value has declined by 6.04% in the past 24 hours.

This is a rather steep pushback after the past few days of positive momentum. Because of this current bearish pressure, the XRP price has dropped below $0.5 again and may even lose the fight for control at $0.48 in the coming hours. This negative momentum is primarily fueled by Bitcoin losing value as of right now. Should that situation change, the XRP price may effectively recover as well.

Speaking of Bitcoin, the XRP price is heavily influenced by a very big decline in the XRP/BC ratio over the past 24 hours. This 5.23% setback should not be overlooked by any means. It is evident there is a lot of panic among speculators right now, even though the overall momentum is still primarily bullish at this point in time. The current dip might not represent that momentum correctly, but it is still in place just like it was two days ago.

All cryptocurrency markets still enjoy a healthy amount of trading volume over the past 24 hours. The XRP, the volume is not exactly impressive, although it is far from worrisome. Any currency generating $360.724m in 24-hour volume during a price decline is more than solid in its own regard.  For XRP, it is not sufficient to reverse the current momentum right away,

The majority of XRP’s trading volume is still coming from Bitbank’s XRP/JPY pair, which is rather interesting.  Its lead over Huobi’s USDT pair is quite substantial, and Binance’s BTC pair is even further behind right now. Huobi’s BTC market and Binance’s USDT pair complete the top five. Only one fiat currency pair in the top five isn’t too great, but that is to be expected at this point in time.

For the time being, it remains a bit unclear in which direction the cryptocurrency markets will evolve. The current XRP price momentum looks bearish, even though its seven-day uptrend is still clearly visible. Once Bitcoin recovers from its brief dip, most alternative currencies and markets are bound to follow in quick succession. This can lead to some interesting XRP price momentum later this week, either for better or worse.

Stablecoins will play an important role bridging traditional markets with the programmable financial tools enabled by crypto, argues Abra’s CEO.