Day: August 1, 2018

The state government of Queensland, Australia, has invested in a digital currency tourism startup to boost the tourism industry in the province

A regulatory stalemate creates an opportunity for cryptocurrency startups and advocates to influence lawmakers towards passing crypto-friendly legislation. This is exactly what blockchain lobbyists are trying to achieve in Washington 

Recent research by Virgil Security, Inc. claims that Telegram Passport’s password-hardening algorithms do not completely prevent brute force attacks

Undeniably, the positive correlation between altcoins as Litecoin, EOS and Bitcoin price is dragging to say the least.

What that means is that when BTC drops in value, altcoins follow suit but there is a little bit of loss amplification.

Nevertheless, research findings from eToro indicate that there is gross undervaluation of Litecoin (LTC). Could this be a signal to buy-hold?

Let’s have a look at the charts:

EOS Technical Analysis

From the News

• Undoubtedly, Huobi is known world over especially after that mini-hack sometimes in mid-June. As a global exchange, EOS is available for trading. The good thing about it is that traders or merchants can transact free of charge. On the other hand, advertisers will have to pay a 0.2 percent ad fee for exposure.

EOS is now open for trading on Huobi OTC!

Discover: https://t.co/OizDenifLa
Explore Huobi OTC https://t.co/BLaXEwT61z

Join the Telegram group to check more details https://t.co/M07fpsuKLm#HuobiOTC #OTC #OverTheCounter #HuobiGlobal #EOS pic.twitter.com/83lNzOXc2j

— Huobi Global (@HuobiGlobal) August 1, 2018

• For the nth time, traders cannot withdraw their EOS from Binance. The crypto exchange platform is citing wallet maintenance as an excuse. But, this isn’t boding well with the community since they claim Binance is trying to manipulate the EOS market by allowing deposits only. Anyhow, possible reasons for this could range from regular wallet maintenance, upgrades or addition of more features on their wallets or a potential hack. We can just speculate.
• Power Ledger will participate in EOSHackton that will take place in Sydney according to EOSphere-Australia. Are these subtle hints of a possible switch from Ethereum to EOS?

Technical Analysis

EOS Daily Chart by Trading View

Risk-reward wise, it’s tricky to liquidate EOS and sync with the market. Well, there are reasons to sell and one of them include that $1,000 erosion of BTC valuation is the last three days or so.

However, while this is enticing, we should consider our EOS trade plans and trade with it. As mentioned in previous EOS technical analysis, sellers will be in charge once they close below $7. Before then, we shall retain a neutral to bullish stand.

Litecoin (LTC) Technical Analysis

From the News

• Relative to its market cap, Litecoin has the largest number of daily active users (DAUs) and transaction volumes than any other coin. This means the coin is not only popular but it is also active. This might be the reason why most businesses as CheapAir accepts LTC as pay and is available at several POS providers as Wirex. These and many other pointers hint of utility and value. Seeing this unveil, eToro’s Greenspan thinks that there is an undervaluation in Litecoin.
• Crypto.com previously Monaco, is the latest cryptocurrency platform to support Litecoin and three other coins according to their latest tweet. By availing Litecoin, the platform said they were “transforming it into a go-to, intuitive platform

#Litecoin (LTC) has been added to the MCO Wallet App, the first #cryptocurrency to be added to the MCO platform since the app launch. It joins BTC, ETH, BNB, & MCO. All can be purchased, exchanged, and sent securely within the app https://t.co/Ut7evJUyo4 @SatoshiLite pic.twitter.com/AahCpTwMLc

— MCO Crypto (@MCO_Crypto) August 1, 2018

Technical Analysis

Litecoin Daily Chart by Trading View

Our Litecoin trading plan is pretty much constant. As sellers continue to wreck havoc on price, aggressive traders can always short on pull backs with immediate first targets at $70, our main support line.

However, in line with our Litecoin (LTC) technical analysis, risk-on traders can wait for conclusive moves below $70 before loading their sells.

On the reverse side, odds of Litecoin’s rapid gains are slim to none but $90, the upper limit of this $20 trade range is our buy trigger.

All that is needed is a breach invalidating that bear break out pattern set on course by June 10 bear candlestick.

Stellar Lumens (XLM) Technical Analysis

From the News

• By collaborating with Lightyear.io, SharesPost shall add Stellar as an exchange location in their Global Liquidity and Settlement System (GLASS) initiative. Overly, this would be positive for tokens available at Stellar DEX as they will find exposure in global markets and be settled as long as they are complaint in any jurisdiction.

Technical Analysis

Stellar Lumens Daily Chart by Trading View

As before, we shall maintain our bullish stand and sync with the last two weeks high volume higher highs.

It’s pretty simple to see why: the last five bear candlesticks rejecting higher highs candlestick volumes pales in comparison to the last two weeks daily averages.

As such, we shall interpret this as a lack of conviction by sellers to tow in and that by extension means Stellar Lumens bulls stand a chance.

Besides, we didn’t see a follow through yesterday. As a matter of fact, XLM prices were oscillating within July 1 high lows.

Tron (TRX) Price Analysis

From the News

• The Tron Foundation is releasing their first Android version of their TronWallet to users. With the wallet, users can easily transact in TRX, participate in mainnet token sales and even vote for super representatives straight from their mobile phones.

TronWallet is now available on Android! Send, receive, freeze $TRX, vote for the Super Representatives, participate in token sales from your phone with this decentralized wallet built by Getty/IO! iOS version available soon, more info on @TronWalletMe https://t.co/QS4SdIB9ru

— TRON Foundation (@Tronfoundation) July 31, 2018

Technical Analysis

Tron Daily Chart by Trading View

Technically Tron (TRX) prices are on a ledge and about to capitulate should sellers shove below 3.2 cents, our intra-range sell trigger.

3.2 cents is July’s low and should there be a breach today, then we recommend Tron (TRX) traders to short at every retest with targets at 2.5 cents.

For recovery, our Tron (TRX) technical analysis dictates that prices must trend above 4 cents but as we can see—and unless otherwise—that is simply too steep for TRX buyers.

IOTA (IOT) Technical Analysis

IOTA Daily Chart by Trading View

Admittedly, sellers are leading the charge but what is encouraging for IOTA investors is that prices are yet to close below 90 cents.

As highlighted in our IOTA Trade plans, we need to see a high volume thrust below that sell trigger line before we initiate shorts and trade with that sell impetus set by June 22 bear candlestick.

Otherwise, we remain neutral keeping in mind that the longer IOTA price accumulates/range the stronger the break out.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post Litecoin, EOS, Stellar, Tron, IOTA Technical Analysis: eToro Analyst “Very Bullish” on Litecoin (LTC) appeared first on NewsBTC.

A troubling characteristic of ICOs is the explicit lack of accountability that token distributors have to maintain promises. As token holdings do not represent project ownership, deceitful entrepreneurs are emerging among legitimate projects as conmen and snake oil salesmen looking to earn quick riches. A frightening Reddit post on Sunday exposed GNation’s CEO and other executives as being exactly these sorts of individuals.

The premise behind GNation, the company that oversees development of the sister currencies GameCredits (GAME) and MobileGo (MGO), is quite exciting. Among other applications, the company promised to create a mobile application store that would offer e-sports wagering, huge developer incentives, and a flagship mobile MMO that would surely see huge popularity.

These products were planned for release in the fall of last year, shortly after MobileGo’s ICO, the second largest at the time. While open betas for the app store, the MMO (titled Pixel Wars), and support from major developers such as ZeptoLab (creator of Cut the Rope) were available soon after the ICO, the transition from open and closed betas to a full release has continually been delayed. These delays, among other concerns, led to growing suspicion from community members in recent months.

Recently, these concerns have been legitimized and even exacerbated as Jack Kuveke, former Community Moderator and Product Manager, published his point of view on the dealings of GNation since the ICO as a precursor to a “Transparency AMA” that took place on July 30. Kuveke, who had been an early supporter of GameCredits and a team member with the Foundation since October of 2016, has remained a beacon of hope for community members throughout the extended stagnation of the company, when no other members played much of a role in communicating with and providing updates to the community.

Kuveke explained how CEO Sergey Sholom and his brother, Financial Director Maxim Sholom, rose to leadership and acted as catalysts for the project’s decent to its current position. Beyond traveling across the world and spending very little time in the office, the brothers had been diverting ICO funds (which are estimated to be worth US$200 million in conjunction with Bitcoin forks and crypto price accumulation) to other projects unrelated to GameCredits. They appointed colleagues to positions of power who oversaw these projects and continually refused to hire cryptocurrency veterans, despite many calls from employees and community members.

Beyond these decisions, many more pieces of information regarding partnerships and developments were withheld from the community and employees alike. Sergey focused heavily on promoting charity, for example, and planned to diminish the role of GAME and MGO in GNation’s products to address legal concerns. Money was also withheld from company employees. Kuveke explained that he has been unpaid for his work since shortly after the ICO, and his promises from the CEO for an ownership stake were never executed. Following the release of this information, MobileGo’s price plummeted almost 50% overnight, from US$0.21 to $0.11, as faith in GNation has been seriously disrupted. MGO’s dollar value is currently down 85% since the ICO, and it’s down 96% against Bitcoin.

Looking Ahead

This information was released due to the decision by a faction of GNation’s employees to split from the company. Kuveke, along with other longtime supporters, team members, and whales who still believe in the vision of GAME and its potential for gamers worldwide, are in the process of creating the GC Foundation. This split comes after complaints and concerns directed toward the Sholom brothers in May went undressed, and it remains unendorsed by GNation.

GC Foundation will be developing the GameCredits blockchain in an open source manner. They will fund developments initially as a blockchain consultancy group working with other projects. Unfortunately, it looks as if no funds from GNation will transfer over to this new initiative, which will not be crowdfunding in any manner and emerges as a true home garage startup. Due to this news, GAME has not fallen as sharply as MGO, whose fate now rests solely in the hands of those who have been the cause for concern over the past year.

Community members have begun increasingly active talks regarding lawsuits against the brothers to recover the ICO funds and see some justice for the con men that have led on passionate supporters with lies and deceit for over a year. While many members have already dumped their MGO, some are holding out in case a change of heart is achieved within GNation and earlier promises are, at some point in time, finally carried out.

Cryptocurrency market data website CoinMarketCap has added several new features following its scheduled quarterly update.

The additional components include a professional API, information on crypto derivatives markets, exchange ranking updates, a newsletter feature, digital currency glossary, and more.

A Host of New Features Come to CoinMarketCap

As part of its major quarterly product update, digital currency market data website CoinMarketCap has added a range of new features.

The announcement was made via a blog post by the company earlier today. The site’s founder, Brandon Chez, stated that the revamp was in line with the site’s commitment to accelerating the adoption of cryptocurrency.

The first of the many updates mentioned is a new API aimed at professional users wanting to integrate the site’s functionality into their own products. The post explained that the new feature seeks to target the growing number of “cryptocurrency products and institutional funds investing in the space.”

It goes on to state that the API has been tested over the course of a month by “hundreds of users.” Chez continued:

“Our API comes with a best-in-class developer dashboard that will help every developer – from hobbyist to large-scale cryptocurrency product teams – make the most of our data.”

In addition to the API, CoinMarketCap now includes data on various derivatives associated with crypto and features a revamped exchange section. The derivatives area contains data on futures contracts, options, and over-the-counter (OTC) exchanges, with an aim of adding more products as they become available.

Meanwhile, an effort has been made to draw attention to exchanges by making them more accessible from the landing page. There are also new options to rank platforms according to trading volume over various periods.

According to the post, CoinMarketCap have responded to requests to launch a daily newsletter covering “trends, news, and updates.” Chez goes on:

“With the newsletter, we want to provide additional information on the constantly-evolving field of cryptocurrency projects, ideas, and philosophies.”

Other features included in the quarterly update are a new global events page featuring forthcoming industry meetups, a glossary of cryptocurrency terminology, and an update for the website’s designated iOS application. Finally, the post also mentions the launch of new blog section and reiterates the previously reported CoinMarketCap subreddit and careers page.

Featured image from Shutterstock.

The post CoinMarketCap Adds New Features Following Major Quarterly Update appeared first on NewsBTC.

With Binance entering its Coin of the Month voting season, now is a great time to discuss the common practices of crypto exchanges. While exchanges are a necessary element of the industry, they are still lacking in a number of areas. One feature which particularly bothers investors is how slow most exchanges are to list new coins and tokens. For an industry which is growing at such a rapid pace, it is expected that exchanges can keep up with the latest trends and accommodate their user bases. The slow nature of exchanges has been a leading criticism of almost all major platforms.

The rapid growth of the cryptocurrency industry means that every few months there is a new coin or token which is gaining popularity and praise. The problem is that these assets are often obscure before their rise to fame, so they are not listed on many exchanges. There is nothing exchanges can do to prevent this, but once hype does build around them, exchanges should be trying their best to list these assets. Unfortunately, this rarely happens. Instead, most exchanges wait far too long to list them, meaning that the initial interest and hype disappears. An example of this was when Bounty0x gained popularity. At the start it was not listed on any major exchanges, and it stayed like that until interest in it started to die down. Exchanges are taking far too long to act.

This problem is caused by two factors: exchanges are being too lazy, and exchanges are charging too much for coins and tokens to be listed. To get listed on sites like Binance, you need to pay a hefty fee. This is something developers of newer coins and tokens simply cannot do, and by the time they do acquire the funds, their hype may have already disappeared. Of course, not every exchange is like that. RightBTC is trying to combat the problem of listing tokens too late with its new ‘Silverlist’ mechanism. It allows people to regularly vote on which tokens they want to see added to the exchange; the winners get listed free of charge. Once this system is in place, RightBTC will list five new tokens per day, making it faster than all major centralized exchanges.

Decentralized exchanges such as IDEX and EtherDelta are also fast to list tokens. Usually these places end up being the first choice for traders who are looking for obscure assets, as most centralized exchanges have a reputation for being late to the program. While professional investors tend to avoid decentralized exchanges (due to problems with liquidity), there are times when that is simply impossible to do, especially when they are the only places which list truly obscure assets.

Clearly the problem resides with centralized exchanges. They are getting too lazy and complacent. Instead of checking to see which coins and tokens their users want listed, they are simply ignoring the issue altogether. While decentralized exchanges can pick up the slack in this regard, right now they all still have liquidity problems which make professional traders wary. RightBTC’s plan to regularly list tokens based on votes is a great solution for centralized platforms, and hopefully larger exchanges will choose to employ a similar system in the future. Exchanges need to be more vigilant on these matters, or we are in danger of facing a minor crisis as the industry continues to grow.

Crypto exchange Coinbase will now support British pounds (GBP) for its UK customers, the firm announced Wednesday.

Bitcoin Cash turns one — a look at the altcoin’s journey after its controversial fork from the Bitcoin blockchain in 2017

Supporters of Tommy Robinson worldwide have collectively donated around £20,000 to a campaign to see the former-English Defence League (EDL) leader released from jail. Robinson was incarcerated in May and has since appealed for donations towards his legal costs in Bitcoin.

Far-Right Activist Appeals for Bitcoin Donations

The English political activist Tommy Robinson was freed from jail today. The former EDL leader was bailed after successfully appealing a contempt of charge he’d previously plead guilty to. During the court proceedings, Lord Chief Justice Lord Burnett ruled that the case must be reheard since there were technical issues with the ruling in which Robinson was originally incarcerated.

Robinson’s previous conviction for contempt of court was for broadcasting a live Facebook video from outside of Leeds Crown Court in late May. Naturally, as the subject of his video was defending himself at the trial in question, such documentation of legal proceedings warrants legal action.

According to an ITV report, Robinson has been appealing for fans to donate to his legal effort using Bitcoin. This has resulted in around £20,000 being gifted to his cause using the digital currency Bitcoin. The largest single donation was for £5,500.

Most of these payments were sent in the week following Robinson’s arrest. Interestingly, many of them have come from outside of the British Isles too. The Bitcoin transactions have been traced from as far afield as Istanbul and Washington.

For those who don’t know who Tommy Robinson is, he’s a particularly vocal (and selectively ignorant) preacher against child sex offenders and radical Islam. In fact, his name isn’t even Tommy Robinson. It’s Stephen Yaxley Lennon. That doesn’t sound as cavalier crusader though, does it? His list of accomplishments include harassing defendants pre-trial, threatening police officers and journalists alike, and beating people to the ground whilst they attended the Royal Ascot race meet.

Somehow, “Robinson” has managed to garner international support for his thuggish brand of vigilante street justice. Several right-wing media outlets have even come to his defence in recent weeks. These have included Breitbart, Rebel Media, and Fox News. Along with these publications, vocal individual fans of Tommy are Donald Trump Jr. and actress Roseanne Barr.

Such international and high-profile support for the vigilante comes as something of a surprise to the leaders of think tanks monitoring hate groups. The deputy director of the Southern Poverty Law Centre, Heidi Beirich, told ITV:

“I’ve never seen anything like this. It’s not typical to have those kind of political officials advocating on behalf of people who take part in street fights and anti-Muslim rallies. It’s a shock.”

This isn’t the first time Bitcoin has been used to fund individual campaigns for justice. Previously, the WikiLeaks whistleblower Julian Assange was gifted over 4,000 Bitcoin in donations. This was following the freezing of WikiLeaks’s accounts by multiple payment processing companies.

Featured image from Shutterstock.

The post Jailed Far-Right Activist Receives £20,000 in Bitcoin for #FreeTommy Campaign appeared first on NewsBTC.