Day: August 13, 2018

A U.S. federal court has ruled to dismiss a motion to remand filed against Ripple in May

The World Bank’s blockchain-based bond – a precursor to DLT adoption by the banking sector?

Despite the stable prices in some altcoins as EOS and Litecoin, most coins under our review are yet to recover. IOTA for example is last week’s top loser shedding more than 50 percent on a weekly basis and is down 12 percent in the last day. Tron (TRX) is also on a down trend. The bad thing though is that with every low, sellers are pushing prices to oblivion. The only bright spot from yesterday is Stellar Lumens (XLM) which is up seven percent and most likely going to stabilize as long as Facebook rumors continue to pile up.

Let’s have a look at these charts:

EOS Technical Analysis

From the News

• There is development in the EOSIO ecosystem and with EOSfilestore dApp, EOS token holders don’t need to install anything before use. The dApp provides an easy avenue for coin holders to upload and download files right on the EOSIO blockchain. All transaction are done via the Scatter EOS wallet and security is guaranteed since the EOSfilestore website never has access to the coin owner’s private keys.

Technical Analysis

EOS Daily Chart by Trading View

Regardless of price optimism that the last two candlesticks can bring, we must realize that EOS is technically in a downtrend. Notice that while the last two candlesticks are bullish and trading within a really tight range, they are wholly confined inside Aug 11 bear candlestick.

So, if anything, this depicts a nice effort versus results scenario where sell pressure is taking the lead making it hard for higher highs unless of course there is a marked increase in trading volumes eclipsing that of the last few days. Since it is steep for buyers, selling at spot prices with stops at $5.5 and bear targets at $4.

Litecoin (LTC) Technical Analysis

Litecoin Daily Chart by Trading View

Even though Litecoin is down 20 percent in a weekly basis, prices have been a tad bit stable in the last 24 hours. Considering our overall trade plan which is solely dictated by bears, we shall insist on our previous assertions recommending shorting LTC at current spot prices with stops at $65. As before, first targets are at $50 and later $30—Q3 2017 lows should sell pressure persist.

Stellar Lumens (XLM) Technical Analysis

Stellar Lumens Daily Chart by Trading View

Regardless on our heavy leaning towards sellers, Stellar is the top performing coin in the top 10. Not only did bulls drive prices above 22 cents—our previous buy trigger—but there have been a convincing reversals of Aug 8 losses. Nevertheless, this doesn’t shout buy.

Instead, sellers should be searching for liquidation points as long as Stellar Lumens (XLM) prices are trading below 26 cents defined by the lows of that high volume candlestick of July 31. However, should there be a breach of that then any close above June 30 highs at 30 cents–our main buy trigger line and double top–would usher in buyers aiming for 50 cents.

That’s a tall order and not a long shot anyway—Stellar is vibrant buoyed mainly by Facebook news–but before any of that happen, we are bearish with conservatives especially waiting for prices to collapse below 18 cents before loading shorts with targets at 15 cents and later $8 cents.

Tron (TRX) Technical Analysis

From the News

• You can now buy stuff at Amazon, Walmart, Google Express and many more via Bitcoin Superstore using Tron (TRX).

Technical Analysis

Tron Daily Chart by Trading View

There are many supportive coin centric news about Tron but still it’s native coin continue to decline sinking two percent in the last day for example. On a weekly basis, TRX is down 23 percent and perched outside the top 10 with a $1.46 billion market cap.

Regardless, TRX buyers should muster enough momentum to reverse these bears and print above 2.5 cents before we think of going long as spelled out in our last Tron (TRX) technical trade plan.

Besides, that move up should be accompanied by high trading volumes usurping the last few days trading averages showing intentions of buyers. In the meantime, we recommend shorting at spot rates with targets at Jan 24 lows.

IOTA (IOT) Technical Analysis

IOTA Daily Chart by Trading View

The broke below 90 cents has been cataclysmic for IOTA and exacerbating the situation are questions surround Curl-P, IOTA’s hashing algorithm.

Anyhow, towing in with bears is IOTA sliding 40 percent loss week over week and the failure to recover in the last day shedding nine percent in the process.

Like all other IOTA (IOT) technical analysis in the last two weeks moments after that defining break below 2018 lows at 90 cents, we shall trade with the path of least resistance, selling at current spot price with stops at 65 cents and fist targets at 30 cents.

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 Stellar Lumens, Litecoin, EOS, IOTA, Tron Technical Analysis: Altcoin roadmaps, partnership Overrides Price appeared first on NewsBTC.

Microsoft has applied for two new patents which would give the computer giant the potential to utilize trusted execution environments (TEEs) in its blockchain network.

A TEE in general terms offers an execution space that provides a higher level of security than a rich mobile operating system open and more functionality than a “secure element”. In more technical terms, Wikipedia describes it as:

“A trusted execution environment is a secure area of the main processor. It guarantees code and data loaded inside to be protected with respect to confidentiality and integrity.”

A TEE, according to the US Patent and Trademark Office, will store “a pre-determined type of blockchain or other security protocol code” in a “validation node”. TEE attestation will verify participants of any system where they possess matching information held within the blockchain node, which is simply a point able to receive, store and send data within the network.

A TEE may be useful in order to set up a consortium blockchain network, for example, the storage of a pre-determined blockchain list allowing secure access for members of the consortium. Also, the new technology could help verify blockchain transactions on similar networks where several pre-authorized entities must interact. This would enable direct on-chain recording without needing to decrypt certain encrypted transactions.

Reportedly, the submissions for patents were filed by Microsoft a year ago in June of 2017 but notably, Microsoft now offers blockchain application via its Azure platform, such as the newly-launched Blockchain Workbench. This promises to streamline blockchain-based application development. As one of the most popular cloud computing services, Azure provides web developers and programmers numerous different types of servers, computers and databases for rent.

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 Two Microsoft Patents Pending to Tighten Blockchain Security via TEE appeared first on BitcoinNews.com.

Noah Coin (NOAH), which ranks 143 in the cryptocurrency market with a capitalization of $33 million, is seeking to enter the Tokyo Stock Exchange (TSE) by taking control of China-linked company Beat Holdings.

Having worked to distance itself from Bitcoin et al., the Japanese exchange operator feels “troubled” with the news, according to one official.

Noah Coin May Enter Japanese Bourse By Taking Control of Listed Company

Hong Kong-based cryptocurrency firm Noah Ark Technologies and top shareholder of Tokyo Stock Exchange listed company Beat Holdings – with a stake of nearly 15 percent of the business – has proposed a name change to “Noah Coin.” It has also proposed the issuance of new shares and share acquisition rights in order to obtain more than 50 percent and gain control over the company.

The proposal made in June has caused distress among Beat Holdings shareholders as well as the Tokyo Stock Exchange, according to the Nikkei Asian Review. This is because cryptocurrencies are seen as lacking protections for investors under the current regulatory framework.

Beat, a group specialized in healthcare and intellectual property acquisition which is formerly known as Xinhua Finance, has a market of under 10 billion yen ($90 million). Noah Coin reached public hands in July with its market cap peaking just over $90 million.

While concerned that a cryptocurrency company may eventually be listed on the Tokyo Stock Exchange, the operator has its hands tied but the purchase is still subject to regulatory approval. In the meantime, Shareholders of Beat Holdings are resisting to Noah’s advances. This is according to Beat CEO Lian Yih Hann, who told Nikkei that the takeover attempt is probably a stunt to attain credibility among future investors in order to launch an ICO in Singapore or Hong Kong.

Beat Holdings may have attempted to gain the upper hand in July by offering a 30% stake to a Singapore-based virtual currency firm through a third-party share allocation. The next shareholders meeting is expected to take place next month at the earliest.

Noah’s Story in the Philippines and Its Plan to Expand Worldwide

The Hong Kong-based company has promoted Noah Coin and its remittance service in the Philippines so that Filipino migrant workers are able to send money back home in an easy, secure, and fast money transfer method.

The firm claimed it had the country’s backing on the project, but Manila’s embassy in Japan said its central bank “has not issued authorization” nor is the company located at the address it listed with the country’s Securities and Exchange Commission.

Noah Ark Technologies looks to raise about $1 billion in an upcoming initial coin offering (ICO) in order to fund the launch of its cryptocurrency exchange business in the United States, Japan, China, and Europe.

Featured image from Shutterstock.

The post Noah Coin is Attempting to Enter the Tokyo Stock Exchange appeared first on NewsBTC.

Spanish left-wing political alliance Unidos Podemos has proposed an initiative to explore the benefits of blockchain and regulate crypto

The finance ministry of India is taking an interesting approach to digital tokens despite having a ban on cryptocurrencies; a new committee is examining the possibility of setting up a legitimized crypto token payment system.

A crypto token, not a cryptocurrency

Local news outlet DNA India reported that the new committee was also established under the chairmanship of the Department of Economic Affairs (DEA) secretary Subhash Chandra Garg. He said, “The committee is studying the possibility of using cryptocurrencies or the crypto technology (distributed ledger technology) for financial transactions and also what kind of regulations are needed for that.”

The crypto tokens in question are a representation of money, which differs to the standard cryptocurrencies as they are treated as money equivalents; instead, these tokens will be utilized exclusively as a means for financial transactions in India.

President of the Digital Lenders Association of India (DLAI) said that in order to obtain these crypto tokens, people will have to pay physical money for them which removes any impacts on the country’s monetary policy.

Once purchased, tokens could be stored on mobile phone devices and potentially used as remittances. According to DNA India, a senior official at the ministry also said that the crypto token could “replace smart cards such as metro cards in the public sector to start with. Similarly, in the private sector, it can be used in loyalty programmes such as air miles where its use is limited to buying the next ticket and can’t be converted into money”.

This approach is rather specific in its application, though it does offer a view for crypto-positive future in India; however, according to DNA India sources, the official cryptocurrency ban is “likely to continue”.

Clarity needed

On 5 July 2018, India officially enacted a banking ban on cryptocurrency; it’s not an outright blanket ban like China’s but instead prevents practically all fiat to crypto trading, a move that for the most part affected exchanges.

Exchanges are allowed to continue operations as long as they remove all fiat trading pairs, limiting their platforms options to crypto-to-crypto trades, much like the exchanges in China were forced to do.

Interestingly, later that month, the law reform committee of India made recommendations for cryptocurrencies to be accepted as payment for online gambling and sports betting.

The legality of cryptocurrencies in India is a hotly discussed topic; blockchain related technologies in the country are receiving public and institutional support especially with regards to the workforce, with whom there is a growing sense of urgency for regulatory clarification.

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

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

Image Courtesy: Pixabay

The post India may Implement Crypto Token Specifically for Financial Transactions appeared first on BitcoinNews.com.

Ross Ulbricht was sentenced to life in prison back in 2015 for operating the Silk Road marketplace but many people believe he should be set free. The Ulbricht family, aided by his new Twitter account @RealRossU, has managed to gather close to 60,000 signatures in a petition for his clemency. Meanwhile, many questions surrounding the government’s Silk Road investigation and the sale of Ulbricht’s bitcoins.

Also read: Coingeek Speaks on Consensus Changes and Next-Gen ASIC Chip

The Many Unanswered Silk Road Questions Suppressed by the US Government

Ross Ulbricht is serving a life prison sentence for operating the illicit drug marketplace called the Silk Road (SR). Many people believe the entire Ulbricht investigation was an abomination of justice as there are many instances of law enforcement manipulation and government cover-ups throughout the SR investigation and Ulbricht’s trial. Moreover, the family has explained many times that much of the details surrounding the SR investigation and the government’s evidence remains a secret. One example is the public auctions of seized bitcoins back in 2014 that allegedly were taken from Ulbricht’s laptop. Most of the results of the auctions are unknown except for the statements stemming from some of the winners like Tim Draper. Only the auction winners were notified by the US Marshals and the public has no idea about the exact specifics of the auctions, except for what they were told by the media.

Because the auction was done by a government agency, specifically the US Marshals Service (USMS), the public has a right to know the exact specifics of these auctions. However, to this day, the USMS has not disclosed the results of the 2014 bitcoin auctions even though there have been multiple FOIA requests for the information. Essentially the Freedom of Information Act (FOIA) says that any US citizen has the right to information and disclosures concerning financial transactions. This includes auctions tied to seized assets the USMS confiscates. In 2014 there were over 20 FOIA requests made to the USMS concerning the bitcoin auctions. According to the FOIA logs for 2014, nearly every request was answered throughout the entire list except for the FOIA requests for information concerning the bitcoin auctions. In fact, to this day the log shows each request remains unanswered except for one on August 22, 2014, that states the request was not reasonable. 

Ross Supporters Gather Close to 60,000 Signatures for His Clemency Petition

Over the past few weeks, support for Ulbricht has been huge since he started his own Twitter handle that posts with the aid of his family. The glaring law enforcement manipulation, the two rogue secret agents, and the unanswered questions regarding the sale of Ulbricht’s bitcoin stash paints a shady picture of so-called US justice. Which has, in turn, helped bolster support for Ulbricht’s cause even more so as many believe that his life sentence is completely unjust.

This week Ulbricht’s Change.org petition for clemency has garnered 59,077 signatures out of the 75,000 goal. In the petition, Ulbricht’s mother Lyn pleads with the public to help her fight for her son’s freedom and explains that the entire investigation and trial was a monstrosity.       

“Ross’s investigation, trial, and sentencing were rife with abuse — This includes corrupt federal investigators (now in prison) who were hidden from the jury, as well as prosecutorial misconduct, constitutional violations and reliance on unproven allegations at sentencing,” Lyn Ulbricht explains.

Ross did not get a fair trial and his sentence was draconian. Justice was not served.

What do you think about the many unanswered questions regarding the Ulbricht case and the bitcoin auctions? Do you think the government covered up certain elements of this case? Let us know what you think about this subject in the comment section below.

Images via Shutterstock, FOIA requests 2014, and Twitter. 

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Silk Road Questions Unanswered as Ulbricht Gathers 60K Clemency Signatures appeared first on Bitcoin News.

The Communist Party of China has released a book explaining the key features and use applications of blockchain technology

A joint committee of Saudi Arabia’s regulatory bodies has issued a statement on cryptocurrency trading. The move hopes to protect local investors from the “high risks” associated with digital asset markets.

Trading Venues Falsely Advertise as Being Regulated by Saudi Arabia

The news broke via a statement posted to the Saudi Arabian Monetary Authority’s website yesterday. It claims that virtual currencies posed “high risks on traders,” as well as other unmentioned “negative consequences.”

According to the statement, the lack of “government supervision” is behind the threats posed to those involved in trading currencies such as Bitcoin and Ether.

The post goes on to state that “virtual currencies… are illegal in the kingdom,” before offering a reminder that there are no groups, companies, or individuals exempt from such a ban by way of licensing.

The speculative nature of cryptocurrency investments was also touched upon by the committee’s post:

“The committee warns all citizens and residents about drifting after such illusion and get-rich scheme due to the high regulatory, security and market risks involved, not to mention signing of fictitious contracts and the transfer of funds to unknown recipients/entities/parties.”

The committee behind yesterday’s statement comprises of members of the nation’s Capital Market Authority (CMA), Ministry of Interior, Ministry of Media, Ministry of Commerce and Investment, and the Saudi Arabian Monetary Authority (SAMA).

The group was formed by a supreme decree to investigate the risks associated with both virtual currency and foreign exchange trading. They are also responsible for clamping down on the marketing of platforms that facilitate such practices within the Saudi borders.

Curiously, despite the statement from the joint committee, there are still venues allowing Saudi Arabian traders to buy and sell digital currencies. Arabian Business claims that many of these platforms have been offering services whilst claiming that they had been authorised by domestic authorities. In light of yesterday’s release, their claims are evidently untrue.

At the time of writing, some of the largest Middle Eastern-facing trading venues are continuing to offer support to Saudi users. BitOasis and peer-to-peer cryptocurrency exchange Paxful still lists the nation as one of those that can access its digital currency buying and selling services.

With the statement from the recently-formed joint committee, it seems that Saudi Arabia are now taking a harder stance towards digital currencies than they had before. Previously at NewsBTC, we have reported on the nation’s laissez-faire approach to the financial innovation. Last year, SAMA stated that the market was not yet mature enough to consider regulating.

Featured image from Shutterstock.

The post Saudi Arabian Regulators Reiterate Ban on Cryptocurrency Trading appeared first on NewsBTC.

U.S. crypto giant Coinbase has announced it will add ETC to its Index Fund and reduce the Fund’s annual fee to ‘attract investors’

A draft proposal by the EP’s Committee on Economic and Monetary Affairs suggests creating new regulations for public initial coin offerings (ICOs).