Day: August 8, 2018

The digital currency industry had been facing fears of centralization as BitMain, world’s largest crypto mining setup, had come to control about 70-80% of the entire scene and the ASIC miners were dominating the space. That made it questionable as to whether or not it would be possible for a decentralization of the space and allow for greater inclusivity.

Traditionally, the process of crypto-mining has been tedious and time-taking, needing a dedicated computer hardware to utilize the power of a specialized graphical processing unit (GPU) chip or an application-specific integrated circuit (ASIC) for doing so. Besides that, a miner would need a continuous internet connection, an original software for cryptocurrency mining and memberships with online crypto exchanges and mining pools. Using these, the miners are vying with each other to solve high order mathematical problems in order to record transactions and to generate fresh blocks of digital currency. Hash values for unique data identification are cracked by the miners to lay claim to a fresh block, while earning rewards for the same.

However, now, with new coins like the MIB Coin that allow smart mining with the help of mobile phones, we have a real chance of availing the advantages of decentralized mining. Offering power-saving up to 99.24% and allowing a penetration up to 94.4%, MIB is on the brink of successfully decentralizing the cryptocurrency mining scene.

MIB Coin saves power consumption by harnessing it from mobile phone hardware to generate hash rates up to 100 h/s or even more depending on the device specifications. This allows implementation of smart-mining even in areas that have a crunch of power sources and reach of the internet. Areas that have obstacles in these terms include countries in South America, Central Asia, Southeast Asia, Africa, etc. The new MIB Coin live with its ICO and is getting listed in major Hong Kong exchanges this month.

Smart-mining can definitely take the world of crypto mining further towards decentralization by allowing better adoption and power saving.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Among just six companies, the Austrian company has been accepted into the world’s leading accelerator 500 Startups as part of their first ever blockchain batch. Blockpit provides automated cryptocurrency tax reporting and seamless portfolio monitoring.

As traditional venture capital firms continue to add blockchain and cryptocurrency projects to their portfolio, 500 Startups is zooming in on those projects as well. For the first time, the accelerator has taken on blockchain startups for an extensive summer program. One of them: Blockpit. The team have already booked their flights and are excited to go overseas to take full advantage of the accelerator’s offerings. While being on-site in Silicon Valley they will visit exclusive mentoring classes and multiple networking events. Their stops will also include Blockshow Las Vegas, one of the biggest blockchain conferences in the US.

Robert Neivert from 500 Startups about Blockpit

Blockpit strengthens global outreach

With acceptance rates of about three percent for their regular batches, 500 Startups is harder to get into than Harvard. Before being taken on, Blockpit was subject to a thorough due diligence screening. “There’s a real need for crypto traders to pay their taxes, but it’s almost impossible to do it now. When I saw that Blockpit had a reasonable solution for government-approved tax reporting that was already live, it was a great reason for me to get them into the program and help them advance”, says Rob Neivert, venture partner at 500 Startups.

This is one step further in Blockpit’s vision to set an international standard for automated crypto tax reporting. Backed by 500 Startups’ vast network, new opportunities arise to tap the US market. In the past, Blockpit has successfully taken part in Big Four auditing firm KPMG’s Smart Start Accelerator. At the moment, they are partnering with Austria’s Federal Ministry of Finance to integrate Blockpits’ services into state-official tax reporting tools. This should act as a blueprint for governments all over the world to adopt innovative technologies.

500 Startups alumni include Twilio, Ripple and 9GAG

Being admitted to 500 Startups, Blockpit joins the ranks of notable companies like Ripple, a global blockchain payment solution, listed cloud communications platform Twilio (NYSE: TWLO) and social media website 9GAG. The total investment portfolio spans over 2,000 startups in 60+ countries, including successful projects like GitLab, SendGrid (NASDAQ: SEND) and Wildfire.

Tax reporting tool blockpit joins the rank of twilio, ripple and 9gag

While on the road for blockchain conferences throughout Asia, Blockpit CEO Florian Wimmer has already had the chance to visit 500 Startups’ branches in Seoul and Bangkok. A chat with the head of 500’s South Korea fund, Tim Chae, has left him even more impressed about the extensive opportunities the venture capital firm and its accelerator can offer for Blockpit. Currently, the company is conducting a three million Euro private sale of its TAX utility token via https://tokensale.blockpit.io.

About Blockpit

Blockpit is a seamless, automated web-based and mobile cryptocurrency tax reporting and portfolio monitoring application. Blockpit uses APIs of numerous exchanges such as Binance, Coinbase, Poloniex, Kraken and many more to link them up with its services. The vision is to allow Blockpit users to automatically combine all their trades, wallets, mining rewards and other incomes such as airdrops into one dashboard. The dashboard provides a clear overview on what was realized in gains to report to tax authorities. Blockpit also allows its dashboard users to generate tax reports which can be legally approved by one of Blockpit’s partners.

For more information visit www.blockpit.io.

Whitepaper: https://tokensale.blockpit.io/whitepaper/en  

Telegram: https://t.me/blockpit

Facebook: https://www.facebook.com/blockpit.io

Twitter: https://twitter.com/blockpit_io

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

For some reason, fundamentals and technical chart formations are diverging. Here, Bitcoin Cash (BCH) sellers continue to wreck havoc even with announcement of key developments within the platform. That’s on top of  adoption drives rivaling those of Bitcoin. All in all, BCH is down 24 percent in the last week and we expect sellers to drive prices to $300 now that there is a resumption of bears as our Bitcoin Cash trade plan dictates.

Volatility in Bitcoin from temporary uncertainty about its future (vs. both political opposition & crypto competitors), not from its supply limit. As these uncertainties decline its volatility will decline until it reflects more the uncertainty in fiat than its own.

— Nick Szabo (@NickSzabo4) June 21, 2018

From the News

•  Roger Ver now says you can buy Coffee from Starbucks using BCH via the iPayYou wallet. His tweet was definitely  timely and seem to counter International Exchange announcement that they shall be working with Starbucks in coming days. The wallet first launched in 2016 and through it, users can buy Gift Cards either with BCH or BTC. Depending on their needs, they can later redeem them should they want to make purchases at different online retailers as Amazon or even pay for rides at Uber.

Fun Fact: You can buy @Starbucks Coffee today with #BitcoinCash by using the @iPayYouWallet.
Try it today at https://t.co/kvCIgve00B because Bitcoin was meant to be Cash. pic.twitter.com/HUiybfuVLD

— Roger Ver (@rogerkver) August 6, 2018

• Most social media and collaboration platform often restrict free speech and Amaury is experiencing this first hand. For some  reasons, he was banned from Slack and being one of Bitcoin Cash lead developers, the community couldn’t take it lying. There were speculations that Slack barred as he was too loud and attacking “Pre-consensus”. Nevertheless, that  doesn’t make sense for Slack to censor individuals simply because of opposing views.
• Innosilicon is introducing their new low energy ASICs that make use of Samsung’s FinFET chips. The ASIC miner is reportedly 30 percent more efficient than competitors mining equipment. Their first version, a 17.2 TH/s ASIC miner-the Terminator2, this latest edition the T2-Turbo miner consumes 75W/TH. Besides, it prints record breaking hash rates at 24TH/s in normal mode.

The most powerful #BTC miner, Innosilicon T2 Turbo(T2T) is fully tested and open for order now! Delivery starts from 15th August to 25th August. T2T running Demo is as below, please enjoy!https://t.co/Y6rbGiffWC pic.twitter.com/52COwNsqYK

— Innosilicon Miner (@Inno_Miner) August 1, 2018

Bitcoin Cash (BCH) Technical Analysis

Weekly Chart

Bitcoin Cash Weekly Chart by Trading View

As mentioned in our previous Bitcoin Cash (BCH) technical analysis, our BCH trade plan is pretty straight forward. First, we realize that Bitcoin and BCH have a direct price relationship and both are struggling to stay afloat.

A dip in BTC causes a magnifying slide in other altcoins as BCH. Simple metrics back this: BTC is down 18 percent on a weekly basis but BCH on the other hand is down 24 percent. That’s roughly a 1:1.5 correlation and is massive by any standard.

Secondly, we note that at current prices, BCH is still trending below the $250 trade range the main support at $600.

With yesterday’s double digit losses, we expect further declines now that not only are there multi-level break below key supports—BCH prices are below the 12 month support trend line and one month support trend line—but bears are pressing higher keen on confirming May-June sell trend.

Daily Chart

Bitcoin Cash Daily Chart by Trading View

So far, Bitcoin Cash is down 20 percent in the last day. After that wide trade range breaking below main support at $600, we can begin unloading BCH in lower time frames. In that case, safe stops will be at Aug 8 highs at $670. First targets as mentioned in past Bitcoin Cash (BCH) trade plans remain constant at $300.

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 Bitcoin Cash (BCH) Technical Analysis: Nick Szabo’s Price Forecast in Progress appeared first on NewsBTC.

A Japanese cybersecurity firm has found Bitcoin ATM malware accompanied by a card with a malicious code for sale on an underground forum

The Financial Conduct Authority (FCA) of the United Kingdom has announced the establishment of a collaborative entity, the Global Financial Innovation Network (GFIN).

Regulatory network

The newly-formed GFIN is a result of the FCA’s ongoing effort to create a global sandbox, a proposal that was announced in February. Currently, 11 collaborators are involved in the GFIN, comprised of international financial regulators and organizations such as the United States Bureau of Consumer Financial Protection, Ontario Securities Commission and the Monetary Authority of Singapore.

As written in the press release, the purpose of the network is to generate a reinvigorated concept of the ‘sandbox’, opening up an unprecedented global knowledge-sharing sandbox.

Christopher Woolard, FCA Executive Director of Strategy and Competition said, “The establishment of the GFIN can help share the experiences and knowledge from across different markets, while also providing a platform for innovative firms wishing to scale their propositions via testing in multiple countries.”

Feedback

Prior to the project update, the FCA had received 50 responses to the February paper that were on board for a collaborative regulatory effort. There were four key themes gleaned from the feedback, providing some precedent for how the GFIN should proceed.

Firstly, respondents were in favor of a regulatory safe-zone where regulators could work together to overcome common challenges, as well as addressing varying policy queries across multiple jurisdictions. This is accompanied by a new sense of efficiency, allowing for ideas to hit new international markets in a speedier fashion.

Furthermore, the feedback indicated that it was important for the new alliance to be transparent and fair, providing an equal field for those who desire to conduct cross-border tests.

Finally, disruptive new technologies with cross-border application are going pose challenges, technologies such as Artificial Intelligence (AI) and Distributed Ledger technology (DLT) aka blockchain, will come under the watchful eye of the GFIN.

To nurture these technologies, the alliance is to improve regulations of securities and initial coin offerings (ICOs) as well as address concerns with know your customer (KYC) and data protection, among others.

Primary objectives

In addition to the guidance offered by the feedback, the GFIN has set out three primary functions. To act as a network of regulators that shares innovation knowledge and experiences, establish an open and constant dialogue for joint policy work, and create an environment for firms to pilot cross-border solutions.

The United Kingdom has been somewhat a pioneer in the blockchain regulation space, with the Bank of England making significant strides having recently completed a DLT Proof-of-Concept. The UK is being touted as a nation with the capacity to lead the blockchain industry, which was a conclusion of a 960-page analysis from DAG Global, Deep Knowledge Analytics and the Big Innovation Center.

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post UK FCA Remains Blockchain Bullish with Establishment of International Regulatory Network appeared first on BitcoinNews.com.

Bitcoin advocate U.S. Senate candidate Austin Petersen lost the Missouri Republican primary election

What’s the game? Rasputin Online is an ICO-funded adult entertainment project that came online earlier this year, but already feels like a fresh breeze in the stale presence of its competitors. Interesting fact: the statistics show that 90% of all ICOs is scam, and half of the remaining 1% fails shortly after launch. The good news is that Rasputin Online is one of the few that remains and delivers maximum results on time.

The online project, Rasputin Party Mansion, is refreshing to the tired eye of models and live cam fans. What’s new? It is a modern, stylish, designer villa that features every facility you can imagine and exquisite models living in the mansion. The hook is in the 35 cams located all around Rasputin Party Mansion that stream live 24/7 from every angle. We love variety!

So do the users. A two-month old webcam pet project, Rasputin Party Mansion has proved to be a huge success. The total number of registered members – 15,000 – speaks for itself. Simply put, the registration ratio can be easily compared to the popular camming websites that stood the test of time. Think about it! In only two months of operation, Rasputin Party Mansion managed to introduce amazing new design and absolutely unique features – ‘Replay’ and ‘Virtual Girlfriend’.

Want to learn more? Visit www.rasputinmansion.com!

Also being an ICO, Rasputin Online created RasputinOnline Coin, or ROC, currently available on Etherdelta and IDEX. Reportedly, more exchanges will be added soon. In the meantime, ROC investors are facing great times ahead as dividends will be paid out already this month!

All ROC holders can claime dividends in ETH from the ICO page – https://ico.rasputinonline.com/

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

MonetaryCoin: A unique approach to the coin cap

MonetaryCoin is a new blockchain based project with strong economic foundations. According to the official website — https://monetarycoin.org, the coin cap is governed by a novel prize economic theory called monetarism.

The money supply is tied to the GDP of a specific country

The main project document is the white paper — https://github.com/Monetary-Foundation/MonetaryCoin-White-Paper/blob/master/Monetary%20Protocol%20Whitepaper.pdf. The tokens intend to replace part of a country’s money supply. This idea is taken from the main thesis of the monetarism macroeconomic theory. It says that the money supply should directly depend on the volume of a country’s economic activity. This allows to reduce the government manipulation of the money supply and to distance from short-term decisions of central banks.

The audit report is available since May 21, 2018. It contains details of the project — https://github.com/SagroVesk/MonetaryCoin-Audit/releases/download/1.0/MonetaryCoin-Audit.pdf. According to the report, the MonetaryCoin token is based on the ERC20 Ethereum protocol. This guarantees that the token functionality corresponds to the standard, and it can be bought in the same way as other ERC20-based tokens. Besides that, the audit report presents the code, libraries, interfaces, and smart contracts.

Part of tokens will be sold during the ICO, while the rest of them will be available for Proof-of-Stake forging. All token holders can participate in the forging process and enjoy the economic gains of the country to which the token is tied to. For this, tokens have to be committed to the PoS forging process. The gains will depend on the changes in the Gross Domestic Product level of a particular country. The indicators will be analyzed by specialized econometric oracle and reported back to the blockchain. The number of tokens available for forging will depend on the oracle analysis. A special app was deployed to help users to interact with the forging smart contracts: https://forging.monetarycoin.io

The token is based on a novel prize winning theory

It would be natural to assume that new tokens cannot be produced when the GDP level drops. However, this situation has also been considered: a mechanism for creating special M5 tokens, which will be issued during negative GDP. Once GDP recovers, M5 tokens can be exchanged for the regular ones. Thus, the MonetaryCoin system motivates users to forge coins, regardless of the economic situation. However, gains from forging expected to be lower during negative growth periods.

If a country officially reports about changes in its GDP level, it may have its MonetaryCoin token. At the moment, the company offers two types of tokens — MERO for the Eurozone and MCHI for China.

The total initial amount of tokens will be equal to 1% of a country’s money supply. It will not have an influence on fiat money but will create an independent algorithmically controlled economic system instead. The combination of economic aspects and the algorithm is exactly what makes the MonetaryCoin project unique.Distribution: https://monetarycoin.io homepage: https://monetarycoin.org

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Many are speculating that the SEC decision might have triggered this sell frenzy but what we should also realize is that most coins were dangling right at the edge waiting for a collapse. All altcoins caved in, registering double digit losses as EOS and IOTA lead the loss making pack. Fortunately though, at the moment price isn’t a priority. This is because as long as these projects find use and therefore value, to recover they shall—but for now, we should brace for impact!

Let’s have a look at these charts:

EOS Technical Analysis

EOS Daily Chart by Trading View

Technically our EOS shorts have been activated in line with our last EOS technical analysis. The question now remains: how low can we get? For once, I suggest that EOS might first test 2018 lows at $4-our first bear target before finding the much needed support.

Thereafter, we expect an EOS recovery back to Q2 highs at $9 or there about. Considering yesterday’s 21 percent drop, we suggest selling on pull backs with targets at $4 and stops at $7.

Litecoin (LTC) Technical Analysis

From the News

Perhaps it’s the US SEC postponement of their decision on VanEck-SolidX Bitcoin ETFs that is causing market jitters. It may also be that whales are finding opportunity to unload their coin holdings simply because delays are not often good news in the securities market. May be it’s not and prices are finding fair value but either way Litecoin (LTC) prices are trading below 2018 lows for the first time this year.

Technical Analysis

Litecoin Daily Chart by Trading View

A 16 percent, high volume drop below $70 means Litecoin (LTC) is now trading below 2018 lows. It also means LTC sellers are successful and have confirmed that bear break out pattern we talked about in our last Litecoin (LTC) technical analysis.

With this, the official third stage of the bear break out pattern, the trend resumption phase is live and in line with our projection, there is optimism for buyers looking to ramp up Litecoin for cheap at or around $50—Q4 2017 lows.

Stellar Lumens (XLM) Technical Analysis

Stellar Lumens Daily Chart by Trading View

Accompanying the cancellation of Stellar Lumens buy projection is an 18 percent dip below 22 cents, our previous buy trigger line and support. As it stands, we shall retain a neutral view on price action as we wait for reaction anywhere at 18 cents and 201 cents.

Coincidentally, that’s not only June lows but 2018 lows and area of strong support. Thereafter, depending on the new found trajectory which is largely reliant on sentiment then, we can buy or short XLM with first bear targets at 15 cents and later 8 cents as our last Stellar Lumens (XLM) trade plan dictates.

Tron (TRX) Technical Analysis

Tron Daily Chart by Trading View

Like XRP and Litecoin, Tron is trading well below 2018 lows and after losing 18 percent in the last day, there is definitely a high volume close below 2.5 cents, our first bear target now resistance.

In line with our previous Tron (TRX) technical analysis, we suggest unloading TRX on every high in lower time frames with targets perhaps at January 24 lows-ideally! After all, January 24 candlestick has been confining prices for the better of the year and so it makes sense for prices to retest those lows first before stabilizing and gaining.

My sober recommendation for sellers who are in the trade already is to lock in some profits and ride with the bear trend.

IOTA (IOT) Technical Analysis

IOTA Daily Chart by Trading View

Following that break below 90 cents on Aug 4, our sell triggers were activated and at current spot rates, our first bear target at 65 cents has been hit.

However, IOTA sellers seem to be stepping up and after dipping 20 percent in the last day, we suggest trading with the trend.

As such, selling on every high in lower time frames with next targets at 32 cents–Q4 2017 lows is ideal.

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 EOS, Litecoin, Stellar Lumens, Tron, IOTA Technical Analysis: Hold On, It is Normal For Prices To Drop–Before Rising appeared first on NewsBTC.