Rememberful Bitcoin News.
US politician Tulsi Gabbard discloses crypto holdings of Ethereum and Litecoin following a June rule change
US politician Tulsi Gabbard discloses crypto holdings of Ethereum and Litecoin following a June rule change
The World Bank is expected to settle its first blockchain-based bond worth $73 Million at the end of this month.
The World Bank is expected to settle its first blockchain-based bond worth $73 Million at the end of this month.
While you may not have heard of him, Jack Lu has quickly become a force to be reckoned with in the cryptocurrency industry, as Lu has joined the ranks of the foremost crypto entrepreneurs. Crypto Extrodinare Jack Lu Gives Insight Into Wanhain’s Inner Workings Although the crypto market has tumbled by over 70% since the start…
The post Wanchain CEO: Crypto Market Will Always Over-Correct, Accumulate at Low Prices appeared first on NewsBTC.
While you may not have heard of him, Jack Lu has quickly become a force to be reckoned with in the cryptocurrency industry, as Lu has joined the ranks of the foremost crypto entrepreneurs.
Although the crypto market has tumbled by over 70% since the start of 2018, the push for innovation in this budding industry remains at all-time highs. As per a recently-conducted interview, Jack Lu, the CEO of the fintech-focused Wanchain project, gave crypto investor Lil Uzi Vertcoin an insight into his past and Wanchain’s inner workings.
From his time at @factom, relationship with @VitalikButerin, to today at Wanchain – check out my in depth interview with Jack Lu, the Founder and CEO of @wanchain_org https://t.co/JNJSwalrFY
— Lil Uzi Vertcoin (@LilUziVertcoin) August 22, 2018
Jack fell in love with fintech at a young age, as he studied economics and computer science at Ohio State University in the earliest stages of his career. Following his twenty-year tenure as a software developer at firms like Xerox and Hewlett-Packard (HP), Lu cautiously stepped into the crypto industry in 2012. After seeing growing value in Bitcoin and other digital assets, the now-crypto expert purchased his first crypto assets in 2013, with the help of one of his friends.
Following his first capital allocation into crypto, friends of Lu asked him to look into Ethereum, which was in its earliest stages at the time. After some time researching the project, he fell in love with Ethereum, quickly realizing that he could utilize his experience as a software developer to code on Ethereum. At the same time, Lu was offered a position as the chief technology officer (CTO) of Factom, which would become his first crypto-related job.
While at the Factom project, the Jack Lu met Ethereum co-founder Vitalik Buterin, with the CTO quickly garnering respect for Buterin in a friend and coworker capacity. Speaking more on his relationship with Buterin, Lu stated:
“I would say that I look up to Vitalik Buterin, I read almost everything about him when I invested in Ethereum’s ICO… I worked with him for a long period of time, in fact he helped Factom a lot on the whitepaper and technical solutions. He lived in China for about 9 months and we had a lot of opportunities to collaborate, both online and offline.”
Throughout his two-year stay at Factom, Lu gathered essential information, skills, and ideas that led him straight to the formation of the Wanchain project, which became his next step in the cryptocurrency industry.
For those who are unaware, Wanchain is a project that intends to “shape a new paradigm” by creating a digital economy via a variety of tokenized assets across multiple blockchains. So what’s Wanchain’s role in this digital economy? You may ask. Well, Wanchain will ensure that participating blockchains will be interoperable in a seamless and efficient manner. While this sounds like an ambitious plan, as per Jack Lu’s aforementioned interview, his project has already seen promising preliminary results, garnering support from many investors and forward-thinking innovators.
Along with Wanchain, Lu runs the similarly-named Wanlabs, which aims to facilitate and incubate promising early-stage projects. In some ways, Wanlabs is near-identical to other blockchain incubators, but Wanlabs has a focus on aiding its ‘incubatees’ by connecting blockchain projects, ensuring the implementation of privacy features and “laying the foundation to make it simpler for projects and institutions to build, connect and exchange value in the form of digital assets.”
While Wanchain and Wanlabs are still in their infancy, Jack Lu hopes that the fruits of his labor will play a key role in the next cycle of the development of blockchain technology.
Closing off the interview, host ‘LilUziVertcoin’ asked Lu about his “thoughts on the crypto market” over the short and long-term. Citing his five years of experience in the crypto industry, the experienced investor noted that a belief in the underlying technology (blockchain) is important for any long-term investor. Lu added:
“If you believed in it back in 2013 and 2014, even investing a little bit of money and leaving it for several years would have made you super rich… The market will always over-correct. Stick with the good projects that have a good vision, and enough resources. They will survive the winter and come back even stronger.”
The Wanchain CEO also noted that short-term speculation isn’t the best investment strategy, elaborating by briefly highlighting his ideology of “sticking to very few (cryptos) for the long run.” Although this statements sure sound bullish, Lu remained cautious, noting that nobody can predict the price of action of any market and that prices could continue lower. But then again, as Lu alludes to, accumulating while prices are low could yield “humongous” results in the future.
Featured Image from Shutterstock
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Positive cryptocurrency market momentum is very difficult to come by as of now. The latest Bitcoin ETF rejection is causing quite a bit of panic selling, which is entirely to be expected. The NEO price, for example, is getting battered once again, as it has lost a significant amount of value in the past 24 […]
Positive cryptocurrency market momentum is very difficult to come by as of now. The latest Bitcoin ETF rejection is causing quite a bit of panic selling, which is entirely to be expected. The NEO price, for example, is getting battered once again, as it has lost a significant amount of value in the past 24 hours.
All alternative cryptocurrencies heavily rely on the Bitcoin momentum to note gains or losses. Considering how Bitcoin is going through another rough patch as of right now, it is only normal the altcoins will not fare any better. The NEO price is a great example of this negative trend, as its value has dropped below $17 once again.
This decline is primarily fueled by a 7.81% loss over the past 24 hours. Considering how such a decline is entirely to be expected when the Bitcoin price is dropping like a brick, no one will be really surprised to see the NEO price dip below $17. It is expected this decline will not relent anytime soon, though, as the worst has yet to come when the real panic selling begins in the Bitcoin department.
Speaking of which, the NEO/BTC ratio has decreased by 4.26% as well. This is also to be expected, albeit it shows the altcoins will continue to face an uphill battle in many different ways. As long as Bitcoin remains in the red, it is highly unlikely any other cryptocurrencies will fare better. The NEO price is just an example of how bad things can get in a very short time.
With the cryptocurrency trading volume still remaining on the low side, altcoins are not noting any real success in his department either. For NEO, its trading volume has dipped to $55.91m, which is still more than acceptable, all things considered. It is more than sufficient to keep the current NEO price near the $17 level, although a further dip to $16 is not out the question either.
As of right now, Binance maintains its lead in terms of NEO trading volume. Its USDT and BTC pairs are firmly ahead of Bitfinex’s USD market. LBank offers another BTC pair, whereas BitForex’s USDT pair is excluded. As such, HitBTC’s USDT pair is the “official” fifth market in terms of counted volume. An interesting list, although it remains to be seen what the future holds.
These coming days will be very worrisome for all cryptocurrency markets. Investors continue to be spooked by ETF rejections, even though there is zero chance the SEC would approve such vehicles under the current circumstances. As such, it is normal there will be some panic selling for some time to come, especially with the weekend just around the corner.
Chinese authorities have recently turned their attention to news sites and those reporting information on current news about cryptocurrencies. Claiming a disruptive influence, the government has also prohibited some advertising through the staging of some crypto-related activities. This now includes locations such as hotels, shopping malls and office buildings, according to the Beijing News. Apparently, …
The post China Cracks Down on Crypto News Sites as ICOs Feel the Heat appeared first on BitcoinNews.com.
Chinese authorities have recently turned their attention to news sites and those reporting information on current news about cryptocurrencies.
Claiming a disruptive influence, the government has also prohibited some advertising through the staging of some crypto-related activities. This now includes locations such as hotels, shopping malls and office buildings, according to the Beijing News.
Apparently, such measures have been introduced in order to protect the Chinese yuan which has been under pressure for the US dollar for most of this year, resulting in falling value. The latest restrictions state the aim:
“To protect people’s property and safeguard the status of legal tender, to guard against money laundering risks and maintain the stability of the financial system, all shopping malls, hotels, restaurants, offices and other places shall not undertake any form of cryptocurrency-related promotion activities.”
At present, the restriction is lifted to an area of Beijing, Chaoyang District, with a population of around 6 million. The government appear to have been aggravated by recent crypto index fund BitUP’s promotional activities.
ICOs banned in China are increasingly coming under pressure and most of the big names have set up overseas to avoid becoming entangled in complicated government prohibitive regulations. Thus, any advertising relating to ICOs is quickly jumped on by the authorities in an attempt to eradicate ICOs from mainland China.
WeChat and Jinse use have both fallen under China’s regulatory axe, the latter with a readership of 350,000 a day including Asia Today. WeChat was “suspected of publishing information related to ICOs [initial coin offerings] and speculations on cryptocurrency trading”.
Just to show the government’s determination to stem the rising tide of ICOs, a conference which would have been happily entertained by any other nation was nipped in the bud earlier this year when the one-day event, dubbed the Global Fintech & Blockchain China Summit 2018, was halted as police raided the event evacuating all attendees and speakers, and then cancelling the afternoon’s keynote addresses.
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Key Points Bitcoin price declined sharply and trimmed most of its yesterday’s gains against the US Dollar. There was a break below a major bullish trend line with support at $6,570 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair revisited the $6,220 support area and later recovered above the…
The post Bitcoin Price Watch: BTC/USD Forming Double Bottom Near $6,220 appeared first on NewsBTC.
Bitcoin price declined sharply below $6,550 against the US Dollar. BTC/USD is forming a double bottom pattern near the $6,220 level.
Yesterday, we saw a solid upward move above the $6,550 level in bitcoin price against the US Dollar. However, the BTC/USD pair was rejected near the $6,923 level and later it declined sharply. There was a sharp downside move and the price fell sharply below the $6,620 and $6,550 support levels. The price even settled below the $6,500 level and the 100 hourly simple moving average.
Moreover, there was a break below a major bullish trend line with support at $6,570 on the hourly chart of the BTC/USD pair. It seems like the pair trimmed most of its gains above the $6,620 level and reversed back below $6,300. The pair retested the $6,220 support zone where buyers emerged. The price traded higher and moved above the 23.6% Fib retracement level of the last decline from the $6,923 high to $6,213 low. However, the upside move is facing sellers near the $6,484 level and the 100 hourly SMA. Above this, the next resistance is $6,568 and the 50% Fib retracement level of the last decline from the $6,923 high to $6,213 low.
Looking at the chart, if bitcoin seems to be forming a double bottom pattern near the $6,220 level. Therefore, if the price breaks the $6,568 resistance it could accelerate higher. On the flip side, a break below $6,220 could push the price towards $6,000.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD has just moved into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI is still below the 50 level.
Major Support Level – $6,220
Major Resistance Level – $6,568
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Particl (PART) and Ledger’s newfound partnership has advanced the capabilities of blockchain, with the Nano S and Ledger Live hardware wallets now able to support cold staking.. The security of private keys Passwords are one of the most valued entities in the security concentric system, and no matter how secure your passwords are, being connected …
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Particl (PART) and Ledger’s newfound partnership has advanced the capabilities of blockchain, with the Nano S and Ledger Live hardware wallets now able to support cold staking..
The security of private keys
Passwords are one of the most valued entities in the security concentric system, and no matter how secure your passwords are, being connected to the internet exposes you to a greater risk of being hacked. And with their huge success in recent years, cryptocurrencies are now targets of such hack-attempts. With even a high level of complexity employed to secure your digital assets, the safest measure is not to be connected to the internet. But then, your coins will at some point need to interact with the outside world – hence be ‘unfrozen’ from the cold storage. An even more threatening scenario is having to expose your private key while staking using the Proof of Stake consensus.
Particl has been able to address this problem by creating a decentralized, privacy-focused marketplace. It is one of the first blockchain products to successfully achieve what it calls ‘Cold Staking’. Thus far, its greatest achievement is the development of this cold staking system, which happens to be one that offers its user-base a true value for PoS staking with utmost security.
Ledger, now partnering with Particl, is a cold storage wallet provider with a focus on crypto security. Providing both hardware and software wallet options, Ledger serves a market encompassing 165 countries and supports 18 different cryptocurrencies.
The partnership
The combo-system emerging from this partnership allows Ledger users to secure their PART offline while keeping their staking rights. The Nano S contributes its core advantage of not having to expose the private key of its asset holder to the client (Particl-Qt). This comes in handy by allowing users to store their funds on a hardware device and still have the ability to delegate the hardware wallet’s staking powers to a cold staking node.
With this feature in place, Particl claims that it is the first of its kind do achieve cold staking with a fully-deployed mainnet. This feature will empower users to have all the flexibility needed as they use their cold storage in the staking of their assets and with a rest assured confidence in the security of the platform.
The future looks brighter
Moving forward, the Particl team says it will add more security updates to the cold staking mechanism in the future. As the platform continues to develop, more useful applications of their PART asset should be revealed soon.
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Key Highlights Ethereum classic price declined from the $13.50 swing high and broke $13.00 against the US dollar. There was a break below a major bullish trend line with support at $12.60 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair spiked below the $12.00 support and formed a low…
The post Ethereum Classic Price Analysis: ETC/USD Remains Supported Near $11.80 appeared first on NewsBTC.
Ethereum classic price fell below important supports against the US Dollar and Bitcoin. ETC/USD found support below $12.00 and it is currently consolidating losses.
There was a rejection above the $13.40 level in ETC price against the US dollar. The ETC/USD pair declined sharply and broke the $13.00 and $12.80 support levels. The decline was such that the price broke the $12.50 support and settled below the 100 hourly simple moving average. Moreover, there was a spike below the $12.00 level and traded as low as $11.89.
Besides, there was a break below a major bullish trend line with support at $12.60 on the hourly chart of the ETC/USD pair. The pair found support near the $11.90 level and it is currently consolidating losses. The price tested the 23.6% Fib retracement level of the last decline from the $13.49 high to $11.89 low. However, upsides were capped near the $12.40 level. Above this, the next major hurdle is near the $12.70 level, which is close to the 100 hourly simple moving average. The 50% Fib retracement level of the last decline from the $13.49 high to $11.89 low is also near $12.70. Therefore, upsides are likely to be capped near $12.70 and $12.80 levels.
The chart suggests that ETC price must stay above the $11.80 level to avoid any further slides. Below this, the price may perhaps trade back towards the $11.50 level.
Hourly MACD – The MACD for ETC/USD is back in the bearish zone.
Hourly RSI – The RSI for ETC/USD is now well below the 40 level.
Major Support Level – $11.80
Major Resistance Level – $12.80
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Token-based startups can keep their prices strong by destroying tokens over time, but doing so may cost them markets.
Token-based startups can keep their prices strong by destroying tokens over time, but doing so may cost them markets.