‘Crypto Crisis’ Mining Simulator Lets Players Relive the Last 10 Years of Bitcoin

In October, an early access game called Crypto Crisis was released on the digital distribution platform Steam. The recently launched title rewinds time to the year 2009 and lets players mine coins on a simulation of the Bitcoin network by utilizing historical data from the last decade.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Simulated Bitcoin Mining Operations  

'Crypto Crisis' Mining Simulator Lets Players Relive the Last 10 Years of BitcoinThe new simulator game, designed by Armoured Beans, allows players to relive a “closely simulated” version of the Bitcoin network. Essentially Crypto Crisis players spawn back in 2009 and start a mining operation while improving mining equipment and selling bitcoins throughout the duration of the game. Crypto Crisis was released as an early access game, which means it’s currently incomplete, but players can still try the game as it develops. On Nov. 16 and 28 Armoured Beans published two major updates which improved the game’s maps system and added new models for utility equipment.

“[You] have fallen into debt with very little to your name, and you decide to start Bitcoin mining to turn your life around — Compete for and increase your share of block rewards by building and upgrading your mining rigs while carefully managing your resources,” explains the developer’s summary of the game.

'Crypto Crisis' Mining Simulator Lets Players Relive the Last 10 Years of Bitcoin

The Bitcoin-infused game is very similar to simulators like Sid Meier’s “Civilization” and Will Wright’s “Sims.” Instead of conquering the world or attracting all the babes at a Sims party, Crypto Crisis users manage energy consumption, data facilities, and their mining rig’s heat output. As the game progresses, players slowly improve their mining operations by unlocking new maps and additional space in order to accumulate more bitcoin miners.

Just like in the early days, when everyone could mine, the game starts you off with a basic central processing unit (CPU) to mine coins. Not long after that, players can upgrade to graphics processing units (GPU) and then facilities full of next-generation application-specific integrated circuit (ASIC) machines.

'Crypto Crisis' Mining Simulator Lets Players Relive the Last 10 Years of Bitcoin

Reset and Start Over

At the moment there are four 3D maps available to play and over 20 different mining chassis types. There’s also a wide variety of rigs to choose from alongside more than 170 CPU, GPU, and ASIC parts. Besides dealing with buying and upgrading mining devices, users also have to deal with the cryptocurrency market. They must choose whether they hold the coins in order to gather more profit or sell them right away for immediate funding.

'Crypto Crisis' Mining Simulator Lets Players Relive the Last 10 Years of Bitcoin

Crypto Crisis users can also rank up while they play the mining simulation, with rankings logged on the Steam leaderboards. Developers recommend about 1 GB of storage space and at least 768 MB to 1 GB of random-access memory (RAM) for the game to run fluidly. According to Crypto Crisis reviews, Steam players seem to be enjoying the early access game development so far.

'Crypto Crisis' Mining Simulator Lets Players Relive the Last 10 Years of Bitcoin

One player says it’s a fun game but he’s restarted back to 2009 over 17 times because he “can’t figure out how to make enough money to stay afloat.” Another player attempting to rule the virtual mining world started off well only to find that the game was prone to freezing during play.

“Actually quite enjoy this game — I have played quite a few opening scenarios to determine the best path and I finally settled on one that I have been quite successful at making money,” the player wrote. “Unfortunately, I just moved into the apartment and purchased my second 6kw generator and large A/C unit, when I selected my 3rd super gaming chassis, the system completely froze.”   

Getting to mine bitcoins back in 2009 is not so easy, unless you have a flying Delorean and a working flux capacitor. However, cryptocurrency fans can get a taste of what it was like with a historical simulator based on the most innovative money of our time. And unlike in real life, if players fail to become mining barons, they can always reset and start over.

What do you think about the game “Crypto Crisis?” Let us know what you think about this historical Bitcoin network simulator in the comments section below.

Disclaimer: Bitcoin.com does not endorse nor support any of these mentioned products/services/games. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, games, goods or services mentioned in this article.


Images via Shutterstock, Crypto Crisis, and Pixabay.


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Crypto Exchange Bithumb May Have [Temporarily] Propped up Bitcoin Price: Analysts

The bitcoin price touched a fresh yearly low this morning, leaving traders and investors scrambling for answers as the crypto market searches for a bottom. While there are numerous pressures that have weighed on bitcoin as it has taken step after step away from last year’s all-time high, research from CryptoCompare suggests that South Korean

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Report: More Chinese Miners Selling Short Following Crypto Market Slump

Chinese miners are reportedly becoming the biggest short-sellers of BTC in the current bear market.

Chinese miners are reportedly becoming the biggest short sellers both locally and internationally, following an increased number of hedging operations in the current bear market, Chinese crypto outlet 8BTC reported Thursday, Dec. 6.

The severe cryptocurrency market decline in the last month has reportedly caused new generation miners to start hedging their coins to avoid market risks. At the same time, frequent hedging operations make miners the biggest short sellers of Bitcoin (BTC), according to 8BTC.

Jin Xin, a Chinese miner who entered the industry in October 2017, reportedly said that the earnings from mining he made in the first two months are “much more” than the total profits he made in the past three years through other business. Jin said:

“If I mine 30 tokens in the next month, while its price may continue to fall by another 10 percent according to the current trend, I shall place a short order on the exchange to sell them at current price but deliver one month later.”

Jin reportedly developed his own strategy to withstand the bear market. He buys already used graphic processing unit (GPU) miners to boost his machines’ performance. Once the “shutdown price” is reached, Jin power down the equipment, removes GPU chips and sells them to game players.

As Cointelegraph reported in late November, cryptocurrency mining operators in China are reportedly selling mining equipment by weight, as opposed to price per unit, as the market slump had resulted in a large drop in mining profitability. Crypto miners were reportedly especially eager to sell the older models, including Antminer S7, Antminer T9, and Avalon A741, as these have reached their “shutdown price.”

Also in November, U.S. technology giant Intel filed a new patent for “energy-efficient high-performance Bitcoin mining.” The patent is dedicated to a “hardware accelerator implementing SHA-256 hash using optimized data paths” and aims to reduce energy for BTC mining by up to 15 percent. The document states that “clusters of SHA engines may consume a lot of power (e.g., at a rate of greater than 200 W).”

SEC Slaps Crypto Firm with $50,000 Fine for Selling Unregistered Securities

The Securities and Exchange Commission (SEC) issued a cease-and-desist order against a crypto investment fund for distributing unregistered securities. The US securities regulator also slapped CoinAlpha Advisors LLC, a Delaware-based blockchain financial products company, with a $50,000 fine. According to the SEC order, CoinAlpha declined to register its business, which involved investing in and distribution

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US SEC Fines Delaware-Based Digital Asset Fund and Issues Cease and Desist Order

The SEC has fined a digital assets fund for breaching securities law and issued a cease and desist order.

The United States Securities and Exchange Commission (SEC) has issued a cease and desist order against CoinAlpha Advisors LLC in addition to ordering a $50,000 penalty, according to a filing published Dec. 7.

Delaware-registered CoinAlpha Advisors LLC was reportedly established in July 2017 to act as the managing member of and manager to fund CoinAlpha Falcon LP, which was formed in October 2017.

By May 2018, the fund had allegedly raised over $600,000 from 22 investors from at least five states, which purchased limited partnership interests in the fund in exchange for a proportional share of any profits derived from the fund’s investment in digital assets. The file further reads:

“In October 2018, after being contacted by the Commission staff concerning the issues herein, CoinAlpha unwound the Fund, pursuant to the authority granted in the Fund’s Limited Partnership Agreement.”

Although CoinAlpha Advisors filed a Notice of Exempt Offering of Securities with the SEC on Nov. 3, 2017, the company was not registered with the SEC. Therefore, CoinAlpha Advisors violated the securities law that “prohibits the sale of securities through interstate commerce or the mails unless a registration statement is in effect.”

Per the file, CoinAlpha Advisors immediately halted the offering once it was contacted by the SEC and undertook a review of marketing and promotional materials posted on social media. The company also reimbursed all fees it had already collected, and resigned all rights to future management and incentive fees.

Now, CoinAlpha Advisors reportedly has to pay a civil money penalty in the amount of $50,000 within ten days of entry of the order.

Yesterday, the SEC set a new deadline for Feb. 27, 2019 in order to further review the rule change proposals to list a Bitcoin exchange-traded fund (ETF) by investment firm VanEck and blockchain company SolidX on the Chicago Board Options Exchange (CBOE).

Both VanEck and SolidX firms filed with the SEC to list a Bitcoin-based ETF on June 6. Subsequently in August, the commission delayed its decision on listing the ETF until Sept. 30, requesting further comments regarding the decision. In October, the SEC set a deadline for submitting comments about proposed rule changes related to a number of applications for Bitcoin ETFs.

Coinbase Considers 30+ Cryptos: Coinbase Pro Lists Civic, distrixt0x, Loom Network, Decentraland

Today, Coinbase announced it is considering 30 plus different cryptocurrencies to list on its platform, following the listing of Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA) on Coinbase Pro.

In a recent blog post, Coinbase announced it is exploring whether to add thirty-plus different cryptocurrencies to its offerings. In a statement from the company:

“Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap.”

The company will assess projects based on a ‘Digital Asset Framework,’ assessing factors such as security, compliance, and the project’s alignment with Coinbase’s mission of “creating an open financial system.”

Moreover, the company has listed four new ERC20 tokens on its platform today, including CVC, DNT, LOOM, and MANA. The move follows the decision by Coinbase to include other ERC20 tokens. The platform began supporting Basic Attention Token (BAT), 0x (ZRX), and USDC (USD Coin) earlier this year.

Coins Under Consideration

In the recent announcement, Coinbase stated it is exploring a broad range of assets, including thirty-plus popular cryptocurrencies.

The list, in alphabetical order: Cardano (ADA), Aeternity (AE), Aragon (ANT), Bread Wallet (BRD), Civic (CVC), Dai (DAI), district0x (DNT), EnjinCoin (ENJ), EOS (EOS), Golem Network (GNT), IOST (IOST), Kin (KIN), Kyber Network (KNC), ChainLink (LINK), Loom Network (LOOM), Loopring (LRC), Decentraland (MANA), Mainframe (MFT), Maker (MKR), NEO (NEO), OmiseGo (OMG), Po.et (POE), QuarkChain (QKC), Augur (REP), Request Network (REQ), Status (SNT), Storj (STORJ), Stellar (XLM), XRP (XRP), Tezos (XTZ), and Zilliqa (ZIL). More information on these coins are available in the CryptoSlate coins database.

Coinbase Adds Zero-Fee Cryptocurrency Withdrawals and Sells Through PayPal
Related: Coinbase Adds Zero-Fee Cryptocurrency Withdrawals and Sells Through PayPal

Coinbase mentioned that “adding new assets requires significant exploratory work,” with the process involving substantial “technical and compliance” review. Also, it cannot guarantee that all of the cryptocurrencies above will be listed, nor does it guarantee that these assets will be available in all jurisdictions. Some of these coins may not be usable for sending or receiving with a Coinbase wallet, significantly hampering practical use.

During the process, those watching the listing process may see Coinbase launch new public-facing APIs, or other signs that the company is conducting engineering work geared toward supporting these new assets. The company will continue to update its users via the Coinbase Blog and Twitter.

Motives Behind New Listings

According to Coinbase, tokens are chosen based on the “relative ease of integrating the [token’s] standard” with the company’s existing infrastructure. Coinbase emphasizes “security” concerns. However, the inclusion of ERC20 tokens uses much of the same infrastructure. Why Coinbase has chosen to list the four ERC20s over other potential candidates is subject to speculation.

In the announcement, Coinbase stated that they will accept deposits sometime today, and will enable trading within 48 hours after deposits are enabled.

Only Coinbase Pro users will have access to trading in the following jurisdictions: U.S., U.K., European Union, Canada, Singapore, and Australia. The company mentions that it may add other jurisdictions at a later date.

Launch Process

Prior to full trading, Coinbase will gradually ramp-up trading options in hopes trading will begin smoothly. Each phase will be announced on Coinbase Pro’s Twitter.

  1. Transfer Only (12 hours): Starting sometime today, customers will have the option to transfer CVC, DNT, LOOM, and Mana into a Coinbase Pro account. Users will not be able to place orders, nor will orders get filled on order books.
  2. Post Only (1 minute): Customers can post limit orders, but there will be no matches to complete those orders. Order books will remain in post only mode for a maximum of one minute.
  3. Limit Only (10 minutes): Limit orders will start matching, but customers will not be able to submit market orders.
  4. Full Trading: Full trading will begin once the limit order phase is complete, including limit, market, and stop orders.

Catching Up With Exchanges

Although Coinbase has recently introduced a new listing process in an “effort to increase the number of tokens” listed on the platform—including its announcement considering its thirty-plus cryptos—the company has still fallen behind on the number of assets available, especially when compared to major exchanges.

Coinbase Pro currently has only 12 different cryptocurrencies available for trading. According to CoinGecko, international exchange Binance offers 163 coins, and U.S. exchange Bittrex offers 253 different cryptos.

Coinbase has gained considerable traction in the U.S. market and is pushing to expand into other jurisdictions. As one of the most valuable companies in the crypto space, it is possible that Coinbase can leverage its access to retail customers and gain a foothold in the U.S. market—allowing it to compete with major exchanges, such as Binance. How the competition will unfold is yet to be seen.

The post Coinbase Considers 30+ Cryptos: Coinbase Pro Lists Civic, distrixt0x, Loom Network, Decentraland appeared first on CryptoSlate.

Chilean Government Making Progress on Crypto Regulation, Says Finance Minister

The Chilean finance minister told local media that the government is making progress on clear crypto legislation.

Chile’s Minister of Finance Felipe Larrain claims that a group of state institutions “is making progress” in developing crypto regulation, local daily newspaper La Tercera reports Friday, Dec. 7.

According to Larrain, the Ministry of Finance is working with Chile’s central bank and Financial Stability Board to provide a balanced legal framework for the crypto industry. He noted that crypto regulations are but one aspect of a wider project to provide legal definitions for the fintech sector. Larrain noted that crypto regulation might take time:

"We are aware that it is important to move in this direction. But all countries in the world are facing similar problems [with crypto regulation], and there is no magic wand to solve them. We are exploring the best solutions to see how to regulate this brand new phenomenon.”

In March, following the closure of crypto-business accounts in major Chilean banks, Larrain promised to develop a legal framework to normalize the situation. Nine months on however, no such legislation has come forward, although the Chilean parliament has made some forays into regulating blockchain technology.

Larrain’s recent statement comes shortly after a Chilean Supreme Court decision, annulled a previous ruling by an anti-monopoly court to protect local crypto exchange Orionx and to reopen its banking accounts. In the decision, a judge claimed that cryptocurrencies “have no physical manifestation and no intrinsic value.”

Despite the alarming publications in local media, Chile’s crypto entrepreneurs told Cointelegraph that the new decision has nothing to do with prohibiting crypto exchanges. Both Orionx and Buda.com, which have been involved in a legal battle since March, assure that their banking accounts will not be affected, as the anti-monopoly court’s decision is still in force.

Bitcoin on the Brink: Will The Crypto Market Go Under $100 Billion?

The crypto market has faced a lot of downward pressure the past few weeks and, as we reported yesterday, so is everything else. Indeed, the week saw an overall 3+% loss in the Dow Jones Industrial Average, and no other exchanges were performing well, either. It’s just a bad time to be a bull, it

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Bitcoin Address Illuminates Amsterdam’s Lights Festival

Bitcoin Address Illuminates Amsterdam’s Lights Festival

Residents of the Herengracht, one of Amsterdam’s most famous canalside streets, have been confronted by a curious combination of illuminated letters and numbers. The large 34-character display has provoked curiosity and more than a little confusion. Part of Amsterdam Light Festival, the gaudy installation is in fact a bitcoin address with a benevolent cause attached.

Also read: House of Nakamoto Opens in Amsterdam

Cryptographic Code Down by the Canal

Bitcoin Address Illuminates Amsterdam’s Lights Festival
Frederike Top

“Code” is the name of Frederike Top’s eye-catching contribution to Amsterdam Light Festival. The 37-year-old Dutch artist, who learned her craft in Utrecht, normally creates lamps, furniture and interior designs that are characterized by playfulness, often with an element of user interaction. In “Code”, Top has taken her artwork to the streets and scaled it up significantly to create a coruscating bitcoin address in the heart of the city’s tourist district.

The positioning of the artwork, affixed to the face of a former bank building, is no coincidence. As the Amsterdam Light Festival website explains, “Central control is no longer needed for digital transactions as opposed to the traditional financial world. Cryptocurrency is a real threat for governments and banks as Top highlights in her installation by positioning it in front of the enormous, closed former bank building.”

Bitcoin Address Illuminates Amsterdam’s Lights Festival

Charity in the City of Crypto

The BTC address used for the project, 1MA8Wopde19HbANkJHnuu76LGbooQHLnuP, which even contains the word “bank”, has an altruistic purpose: all contributions it receives will be donated to Huis van de Tijd, a foundation for elderly people with dementia. So far, 14 modest BTC donations have been made.

Amsterdam has a strong Bitcoin heritage, having housed its own Bitcoin Embassy since 2014. It also recently opened the House of Nakamoto, an information center and retail store for cryptocurrencies that features a Bitcoin museum. Frederike Top’s bitcoin address artwork can be seen as part of Amsterdam Light Festival until Jan 20, 2019. The seventh edition of the festival comprises 29 illuminated artworks and 10 city stories, with the lights switched on between 5 p.m. and 11 p.m. daily. Walking tours take visitors around the installations, which can also be viewed by bicycle or boat.

Bitcoin Address Illuminates Amsterdam’s Lights Festival
Amsterdam Light Festival

What are your thoughts on Bitcoin-themed artworks such as this? Do you think they help to raise awareness of cryptocurrency? Let us know in the comments section below.


Images courtesy of Amsterdam Light Festival.


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Ethereum Constantinople Hard Fork to Come in Mid-January, Based on Dev’s New Agreement

Ethereum core developers have decided to activate the Constantinople upgrade at block 7,080,000.

Ethereum (ETH) core developers have agreed to launch the long-awaited Constantinople  hard fork at block 7,080,000, as decided in a bi-weekly developers meeting on Friday, Dec. 7.

The new agreement follows the previous decision to delay Constantinople fork for late January 2019 due to a “consensus issue” that occurred during the upgrade trial on Ropsten testnet in October.

Given the press-time ETH block time of 14.3 sec, and the number of remaining blocks of around 234,431, the Constantinople upgrade is likely to become active in around 38 days from press time, or around Jan. 14, 2019, according to the data from the Ethereum blockchain explorer Etherscan.

ETH

Ethereum’s last block and blocktime at press time. Source: Etherscan

The upcoming Constantinople hard fork encompassses five separate Ethereum Improvement Proposals (EIPs) in order to soften the transition from proof-of-work (PoW) to more energy efficient proof-of-stake (PoS) consensus algorithm.

Once activated, the upgrade is supposed to fundamentally change the Ethereum blockchain, with the synchronous nodes update to the entire system.

Ethereum is a public, open-sourced blockchain platform featuring smart contracts and its native cryptocurrency Ether. Launched on July 30, 2015, Ethereum is now the third biggest cryptocurrency by market cap at around $9.7 billion and is trading at $95.88 as of press time, according to data from CoinMarketCap.

Recently, Ethereum co-found Vitalik Buterin was granted an honorary doctorate from the Switzerland’s oldest university, the University of Basel, for “outstanding achievements in fields of cryptocurrencies, smart contracts, and the design of institutions.”

In November, analysts from Northeastern University and the University of Maryland claimed that the alleged existing lack of diversity in Ethereum smart contracts threatens the whole Ethereum blockchain ecosystem.

EU Report Considers Blockchain-Based Digital Identities, Tokenized National Currencies

The EU Blockchain Observatory and Forum has made a case for a blockchain-powered “self-sovereign” digital identity system to secure and share personal information.

In its latest report released on Dec. 7, the European Union Blockchain Observatory and Forum (EUBOF) made a case for a blockchain-based digital identity system and digital versions of national currencies.

The report was prepared by blockchain software technology firm ConsenSys AG on behalf of the EUBOF, and focuses on the analysis of what blockchain properties could be beneficial and advantageous for governments.

The EUBOF suggests that governments should develop “user-controlled, ‘self-sovereign’ identity capabilities” to create secure, private, unique and verifiable identities, that can provide sufficient proof of identity without revealing more data than it is necessary for a transaction. The report recognizes that this has proven difficult to achieve with centralized technologies.

While the idea behind blockchain-based self-sovereign identity is that individuals could keep verified personal information themselves, instead of third parties, the EUBOF notes potential challenges for governments.

The report states that identity standards and frameworks must first be developed, in addition to defining the extent to which people want identity systems to be decentralized. It adds:

“They [governments] will have to take into account how identity attributes change over time during a person’s natural lifecycle, and will need to offer different levels of transparency depending on the context (e.g., verifying that someone is over 18 without providing a birth date). Identity platforms also need to be inclusive of all citizens, including those who, for whatever reason, have no access to or are not able to use technology.”

Another important issue raised in the report is digital versions of national currencies on a blockchain, or the ability of governments to “put fiat currency on the chain.” The report further reads:

“Putting digital versions of national currencies on the blockchain means they could then become integral parts of smart contracts. That would unlock much of the potential innovation of blockchain by allowing parties to create automated agreements, including direct transactions in these currencies, instead of having to use a cryptocurrency as a proxy.”

The report cites plans and initiatives of central banks in tokenizing national currencies, or inter-bank payments with distributed ledgers to make transaction processes more transparent, resilient, and cost efficient. Moreover, governments could purportedly use blockchain-based tokens in non-monetary ways, like an e-voucher that can be exchanged for government services.

This week, Malta, France, Italy, Cyprus, Portugal, Spain and Greece released a declaration calling for help in the promotion of Distributed Ledger Technology’s (DLT) use in the region, claiming that could be a “game changer” for southern EU economies. Among other things, the group also cited blockchain tech’s use for protecting citizens’ privacy and making bureaucratic procedures more efficient.

Daily Crypto Roundup 12/7/2018

As the week came to a close, the SEC further delayed the VanEck-SolidX ETF, gave further regulatory guidance against crypto market manipulation, and issued a cease and desist. Also, Coinbase looked at thirty-one potential crypto asset listings while bitcoin dropped below $3,400. Here are today’s headlines.

SEC Delays VanEck SolidX Bitcoin ETF Until February

Announced yesterday, the SEC has further delayed their decision for a bitcoin ETF approval.

Back in June, the Chicago Board Options Exchange, in partnership with companies VanEck and SolidX, requested a rule change allowing VanEck-SolidX bitcoin shares to trade on CBOE’s BZX exchange.

The decision has seen delay several times so far since June. As per the last delay in September, the SEC said it needed to look into market manipulation, among other things.

This time around, the SEC simply stated they need more time to evaluate the situation. The next approval/denial date is set for February 27, 2019.

Read on Crypto Insider

US Lawmakers Present New Legislation To Prevent Crypto Market Manipulation

Yesterday also brought news of additional legal guidelines to prevent cryptocurrency market manipulation, as well as help the U.S. become a significant force in the crypto space.

The two bills were labeled as the “Virtual Currency Consumer Protection Act of 2018,” and the “Virtual Currency Market and Regulatory Competitiveness Act of 2018.”

The two acts require insight from the Commodities Futures and Trading Commission (CFTC), as well as a few others, in order to upgrade areas of regulation.

“The stated aim for both bills is to enhance consumer protection and promote business development,” explained Crypto Insider today.

Read on Crypto Insider

Coinbase Is Exploring These 31 Coins For Possible Future Listing

Coinbase aims to continue its crypto asset listing activities, looking into thirty-one additional assets for listing.

Coinbase evaluates “prospective assets against our Digital Asset Framework to assess factors like security, compliance, and the project’s alignment with our mission of creating an open financial system for the world,” according to their press release today.

Among the list of thirty-one are assets like Cardano (ADA), EOS (EOS), and NEO (NEO), as well as many others.

Read on Crypto Insider

Bitcoin Drops Below $3.4K To Set A New 2018 Low

Bitcoin continued its downward spiral as it recently plummeted below the $3,400 mark. December 7 saw bitcoin fall over 11 percent, sitting around $3,306 at the time of writing.

The total market cap for bitcoin has slid more than $4.8 billion in just 24 hours.

“Bitcoin has now erased the largest portion of its October, November and December 2017 bull run gains and is effectively down 84.28 percent from its all time highs of $19,781,” reported CoinDesk today.

Read on CoinDesk

SEC Fines Crypto Fund $50K And Issues Cease-and-Desist

CoinAlpha Advisors LLC got slapped with a $50,000 penalty from the SEC today for selling unregistered securities.

CoinAlpha digital asset fund management started in late 2017, gathering over $600,000 in investments. The fund applied for a securities exemption, but ultimately was not deemed exempt by the SEC. CoinAlpha did not proceed with SEC registration after denial of exemption.

CoinAlpha also did not conduct proper know-your-customer (KYC) measures.

The fund has reportedly returned capital to its investors, and has “cooperated with the SEC,” reported CoinDesk today.

Read on CoinDesk

The post Daily Crypto Roundup 12/7/2018 appeared first on Crypto Insider.

Coinbase CTO: ‘BUIDL’ Trademark Will be Given Back to Crypto Community

CCN previously reported on a move by Coinbase to trademark the crypto rallying cry “BUIDL,” but it turns out there’s nothing to fear. According to Coinbase CTO Balaji Srinivasan, Coinbase has no interest in actually using the trademark in any way that prevents others in the community from using it themselves. They’re doing so for

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Cryptocurrency Exchange Coinbase Lists Four More Ethereum Tokens

The most popular US cryptocurrency exchange is continuing its promise to support Ethereum-based ERC20 tokens, adding four more of the coins to the Coinbase Pro platform. Starting today, December 7, Coinbase Pro users can transfer their balances of Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA) to the exchange, and full trading will

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Second .IO Fraud Lawsuit Filed Lawsuit Claims .IO Is Den of Crypto Thieves

cryptocurrency pirates

December 7, 2018 Diego Garcia, British Indian Ocean Territory (BIOT): There is something fishy in the British Indian Ocean Territory according to crypto lawyer Dr. Jonathan Levy who has just sent a second lawsuit for filing to the British Indian Ocean Territory Supreme Court registry.  British Indian Ocean Territory is a remote set of islands known best for the joint US-British naval base at Diego Garcia.  It is also the home to the well-known Top-Level Domain .IO which has proved so popular with ICOs (Initial Coin Offerings) and crypto scammers.

Levy’s first lawsuit was filed against the dark web crypto laundering outfit Bitblender.io which has washed the blockchain out of millions if not billions of dollars of Bitcoins right under the noses of the British authorities.  The lawsuit in the process of being filed is against the fake crypto trading outfit AXECC.IO which has raked in millions from victims worldwide using false accountings, advance fee scams, and even impersonations of British tax authorities.

Crypto currency and trading platforms have reeled after the recent tumble in prices. According to Dr. Levy: “The recent crash and instability in the crypto market is directly related to the massive fraud that undermines crypto credibility.  The .IO domain hosts the worst collection of crypto pirates and thieves.  These groups are often eastern European organized crime organisations and even linked to terrorist funding. The British authorities have the power and even a functioning court system in the territory to easily shut down and prosecute the criminals who are literally killing crypto currencies and ICOs.  The lack of interest by the Foreign and Commonwealth Office in policing .IO is both astounding and inexplicable.”

Levy has suggested on dollar volume alone, .IO constitutes the largest offshore financial center the world has ever seen. Unfortunately, much of that volume is in stolen funds, ransomware proceeds, fraudulent trading platforms and ICOs, and trade in contraband.  The British government wittingly or not have created a pirates’ cove in cyberspace that far outshines anything seen since the 18th Century when pirates roamed the Spanish Main and threatened world commerce.

The lawsuits are:

Crypto Currency Resolution Trust v. Bitcoin Blender Organization

https://tinyurl.com/bitblendersuit

Heyns v. AXECC.IO

https://tinyurl.com/yc58mj9g

For more information contact:

Dr. Jonathan Levy

  1. +44 (0) 20 8144 2479

jon.levy@berladgrahamllp.com

The post Second .IO Fraud Lawsuit Filed Lawsuit Claims .IO Is Den of Crypto Thieves appeared first on NullTX.

KBX Token – a Cryptocurrency Exchange for Investors in Africa

kubitx logo

The world is moving fast into digital assets, and crypto currencies are the next big serious investments for anyone looking to make sustainable returns and profits with their investments. Which is the reason why hyper growth economies like Africa, the continent that the world is turning to, for the next phase of global growth, needs more awareness in the area of crypto currencies and their exchanges.

Serious Investors have certain elements they keep in mind at all times, risk management, for one, and annualized returns, for the other. What is critical, however, is for them to have a helping hand and a patient advisor at all times, who are aligned to their way of thinking. These factors have been hitherto largely ignored by the cryptocurrency community across the world, even though returns on investment in cryptocurrencies have seen triple digit growths over the years and several have even created millionaires who invested a few thousand dollars in them, in just a couple of years. But the major disconnect is in investor services and advisory.

This is where investors in Africa, especially the serious ones we are talking about here, have the opportunity of a lifetime with the KBX token.

The KBX token comes with its own trading platform and exchange, which is also considered among the most secure in the world. Launched by KuBitX, a company with a highly distinguished operations and management team, the KBX offers serious investors in Africa, from seasoned crypto currency institutional investors to the absolute layman making his crypto investments for the first time, the opportunity to avail a full-service, localized investment platform with its very own mission of educating investors about blockchain technology and gently guiding them through the entire process of investing and trading. Some of the other key functions where KuBitX far surpasses other common blockchain exchange platforms are:

  • Security – Reports of crypto platforms and exchanges being attacked by hackers are fairly common. The KuBitX platform comes with one of the most advanced safeguards out there, compliant to the superior AES-256 and hashing, alongside a robust architecture, completely compliant to GDPR.
  • Fiat Investment and Operations– the KBX token has all the functions that you would expect your normal, offline currency to have – including, but not limited to funds transfers, multiple merchant based payment processing, remittances, bill payments and even trade financing. The entire KuBitX ecosystem is designed to provide the benefits of both regular currency operations and high returns on investment.
  • Single Touchpoint – Holders of the KBX token have the ability to connect all their financial services accounts and payment gateways and manage them through one single, robust platform. Aimed at serving the serious investor, transactions are ultra-fast and require minimal resources.

The KuBitX team is on a mission to bring the tremendous benefits of cyptocurrency investments to low GDP and emerging economies in Africa, and the time is right to invest in this secure, robust token with tremendous potential of huge returns.


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.

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USDT Volume Up Despite Tether’s Stablecoin Dominance Dropping

USDT Trade Volume Up Despite Drop in Tether's Stablecoin Dominance

The ongoing drama surrounding the opaque operations of Tether throughout 2018 has driven the proliferation of similar pegged currencies, leading to USDT’s dominance over the stablecoin markets waning. Despite this shift, USDT trade volume has risen 100 percent since tether’s dramatic decoupling from its dollar peg in October.

Also Read: Buffett Bet 2.0: Asset Manager Wagers Crypto Fund Will Beat S&P 500

Tether Loses Stablecoin Crown Amid Controversy

USDT Volume Up Despite Tether's Stablecoin Dominance DroppingAt the start of 2018, USDT accounted for approximately 94 percent of the entire stablecoin market. According to Diar, Tether’s dominance fell to 74 percent as of December 2018. As of this writing, Tether is the seventh largest cryptocurrency by market capitalization with a circulating supply of 1.85 billion USDT, down from over 2.8 billion on Oct. 7, 2018.

Continual speculation regarding the opaque nature of Tether’s operations and accounting, punctuated by a crash that saw the price of the so-called stablecoin drop to $0.88 on Oct. 15, paved the way for rival dollar-pegged cryptocurrencies to grow their market share. The major stablecoin competitors to emerge have been Trueusd (TUSD), Paxos Standard (PAX), Circle’s USD Coin (USDC), and Dai (DAI).

Tether Decoupling Drives Demand for Stablecoin Alternatives

USDT Volume Up Despite Tether's Stablecoin Dominance DroppingOn Oct. 14, one day before Tether’s dramatic decoupling from its dollar-peg, tether was the eighth largest market cap with a circulating supply of 2.66 billion USDT and a 24-hour volume of $2.02 billion.

The second largest stablecoin, trueusd, was then the 48th largest crypto by capitalization with a circulating supply of 135.3 million TUSD and a 24-hour volume of $11.75 million.

Dai comprised the 97th largest crypto with an outstanding supply of 60.8 million DAI and a 24-hour volume of $4.2 million, and paxos ranked 176th by market cap with a supply of 23.75 million PAX and a 24-hour volume of $21.3 million.

Data indicating the circulating supply of Circle’s USDC as of Oct. 14 could not be found, however, Coinmarketcap recorded USDC as having a market cap of approximately $24 million and 24-hour volume of roughly $1.2 million on Oct. 17.

USDT Supply Falls 30% in Two Weeks

USDT Volume Up Despite Tether's Stablecoin Dominance DroppingOn Oct. 28, roughly two weeks after USDT crashed to $0.88, tether still boasted the eighth largest market cap but the circulating supply of USDT had fallen by approximately 30 percent, with a 24-hour trade volume of $1.68 billion.

Meanwhile, the supply of trueusd had grown 30 percent to 175.45 million to rank as the 45th largest cryptocurrency by market cap, with $26.4 million worth of TUSD changing hands during the preceding 24 hours.

The supply of USDC had grown nearly 420 percent to rank it as the 58th largest crypto with 124.2 million outstanding tokens, but 24-hour volume had fallen to $642,196. Paxos had grown 305 percent to rank as the 69th largest capitalization with a supply of 96.1 million and a 24-hour volume of $24.8 million. The supply of dai had grown 9 percent to 66.5 million despite dai slipping one place to rank as the 98th largest crypto asset and 24-hour volume falling to $3.3 million.

Stablecoin Rankings Today

USDT Volume Up Despite Tether's Stablecoin Dominance DroppingAs of Dec. 7, trueusd is the 25th largest cryptocurrency by market cap with a circulating supply of over 200 million and a 24-hour volume of $52.5 million. USDC now closely follows, ranking 26th with a supply of nearly 181.2 million and a 24-hour volume of $25 million.

Paxos is currently the 27th largest crypto by capitalization with a circulating supply of 167.6 million, but boasts a larger 24-hour trade volume than its immediate competitors with $86.75 million.

Dai now ranks as the 63rd largest cryptocurrency despite its circulating supply falling by 54.7 million. $10.6 million of dai has changed hands in the last 24 hours.

Despite suffering a significant drop in circulating supply and dominance over the stablecoin markets, the 24-hour trade volume for USDT pairings has doubled since Tether’s brief decoupling from the dollar, and now stands at over $4 billion a day.

Do you think that USDT competitors will continue to gain stablecoin market dominance? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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Bitcoin Price Eyes Support at $3,000 as Crypto Market Sets New Yearly Low

The bitcoin price on Friday plunged 6.5 percent against the US Dollar, breaking below the flagship cryptocurrency’s previous yearly low at $3,455. The bearish cycle took another turn after the Securities and Exchange Commission (SEC) halted its decision on the VanEck’s upcoming bitcoin ETF once again. The fundamental has been treated as one of the

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Bitcoin, Ripple, Ethereum, Stellar, Bitcoin Cash, Bitcoin SV, EOS, Litecoin, TRON, Cardano: Price Analysis, Dec. 7

Markets are down following more delays on a Bitcoin ETF decision from the U.S. SEC. Let’s consult the charts and see how top coins are faring.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

The selling in cryptocurrencies dragged the total market capitalization down to about $106 billion on Dec. 7. The crypto market has lost more than 87 percent of its value from the high achieved in late 2017.

The latest leg of selling gained traction on the news that the United States Securities and Exchange Commission (SEC) has delayed its decision on Bitcoin (BTC) exchange-traded funds (ETFs) until Feb. 27 of next year.

Based on the performance of the Directional Movement Index and the Average Directional Index, Bloomberg Intelligence analyst Mike McGlone expects Bitcoin to drop to $1,500.

The fall has scared away most retail investors. Nevertheless, crypto-focused institutional asset manager Morgan Creek Digital believes that its Digital Asset Index Fund — a basket of ten major crypto assets — will offer better returns than the SPX over the next 10 years, starting from Jan. 1, 2019. Morgan Creek Digital is ready to wager a $1 million bet on their forecast.

The bear market has been good for the stablecoin Tether, which continues to climb the ladder in terms of market capitalization. It is now sitting at the sixth position, threatening to break into the top five if the selling continues.

As Bitcoin SV, which has recently hard forked off from Bitcoin Cash (BCH), has a few days of trading behind it, we shall introduce it in our analysis from today onward.

BTC/USD

Bitcoin has plunged to a new year-to-date low, but the decline is still not showing any signs of slowing down. The previous low of $3,620.26 did not offer any support, which demonstrates a lack of buying at the current levels. We expect the $3,000—$3,500 zone to act as a stronger support.

BTC/USD

However, if the BTC/USD pair dips below $3,000, the fall can extend to $2,416.52, which is the pattern target following the break down from the pennant.

The current situation is opposite to last year when traders were expecting the price to skyrocket. Now, most believe that digital currencies are doomed. We believe that the selling has been overdone, and a pullback should be around the corner.

Still, we want to see evidence of strong buying at some support before initiating fresh long positions. Our positions suggested earlier were closed at $3,800 and $3,500.

The lower the cryptocurrency falls, the closer it gets to the bottom. Therefore, we suggest traders be ready to initiate long positions upon the signs of a probable bottom. Unlike on previous occasions, when we had proposed using only a portion of the usual position size, this time we shall recommend using the normal position size. The risk-reward is getting attractive at these levels.

XRP/USD

Ripple (XRP) is still above its year-to-date low, but the price is fast approaching those levels. Currently, the price is at the support line of the descending channel, which is likely to hold.

XRP/USD

A bounce from the current level will face resistance at $0.33108, and above that at the 20-day EMA. Conversely, if the bears break below the support, a retest of $0.24508 is probable.

We continue to like the XRP/USD pair because it has been outperforming a number of top digital currencies. Therefore, we suggest traders hold their long positions. We shall propose adding more when the pair turns around.

ETH/USD

Ethereum plummeted to double digits on Nov. 6, and has not recovered yet. Currently, it is trying to bounce off the support at $83. We expect some buying in this area.

ETH/USD

If the bears maintain their selling pressure, the ETH/USD pair can drop to the next support at $66. The selling has been so intense that the RSI could not even rise above the oversold zone, from the deeply oversold levels.

The first sign of a likely change in trend will be when the price sustains above $100. Until then, it is best to wait and watch. We anticipate a strong pullback within the next few days.

XLM/USD

After a successful defense of $0.184, the bears have renewed their selling, pushing Stellar to new year-to-date lows.

XLM/USD

The next level to watch on the downside is $0.08. Though we anticipate the bulls to offer some buying support at this level, it is difficult to pinpoint the bottom.

The XLM/USD pair will signal a likely bottom when it sustains above the downtrend line. We expect it to consolidate for a few days before starting a new uptrend. The traders should wait for a trend reversal before buying.

BCH/USD

Bitcoin Cash continues its journey southwards. Within three days, the price slumped from an intraday high of $157.58 on Dec. 4 to an intraday low of $104.99 on Dec. 7. Currently, the bears are trying to sustain below the psychological support of $100, while the bulls want to maintain the price in triple digits.

BCH/USD

If the bears succeed in holding the BCH/USD pair below $100, the next support on the downside is $91.78. The RSI has fallen to about 15 levels, which shows that the selling has been overdone and a pullback can start anytime. However, the traders should wait for the decline to end before jumping in. Until then, it is best to remain on the sidelines.

BSV/USD

While the other cryptocurrencies are sliding to new lows, Bitcoin SV is bucking the trend. It is attempting to turn around and move up.

BSV/USD

The BSV/USD pair is currently in a range of $80.352—$123.98. A break out of the range gives it a pattern target of $167.608, with a minor resistance at $150.47.

If the bears defend the overhead resistance at $123.98, the digital currency might consolidate for a few more days. Short-term traders can look for buying opportunities as long as the price stays above $80.352. As the overall sentiment is negative, we suggest traders keep the position size at about 40 percent of usual.

EOS/USD

EOS is under a strong bear attack. The fall has been so severe that the support level of $2 could not even hold for a day. The next support on the downside is $1.5257. However, with this kind of incessant selling, it is difficult to predict where the decline will end.

EOS/USD

When the digital currency makes new lows on a daily basis, the new money sitting on the sidelines doesn’t want to come in. On the contrary, the traders who have been long since higher levels, dump their positions, as they are not able to take the losses. This vicious cycle usually ends in a capitulation.

After an extended decline, the price becomes so attractive that a few aggressive bulls start bottom fishing. We shall wait for signs of buying in the EOS/USD pair before turning positive. Until then, it is best to wait and watch.

LTC/USD

The bears have broken down of another critical support at $28. Litecoin can now slide to $20, where we expect buying to emerge.

LTC/USD

The trend is clearly in favor of the bears, as the bulls are unable to hold the price in a range.

The bulls will try to push the price back into the range, whereas the bears will try to maintain the downward momentum. If the bulls succeed, the LTC/USD pair might consolidate for a few days, before starting a new uptrend. Traders should wait for a new buy setup to form before initiating any new positions.

TRX/USD

TRON has broken down of the immediate support of $0.01339050. Its next support is at the Nov. 25 low of $0.01089965. The moving averages are trending down, and the RSI is in the negative zone, which shows that the sellers have an upper hand.

TRX/USD

However, we like the way the TRX/USD pair has not broken down to new year-to-date lows. This shows that the owners are not keen to sell at the current levels, and the buyers are supporting it just above the recent lows.

If the bulls defend $0.01089965, the digital currency might enter a basing formation. We shall wait for a few days for it to confirm a bottom before suggesting a trade in it.

ADA/USD

The downtrend in Cardano has resumed, as the pair makes new year-to-date lows. The next support on the downside is at $0.025954.

ADA/USD

The falling moving averages and the RSI in the oversold zone will continue to pressure the ADA/USD pair. The first sign of a change in trend will be when the price breaks out of the 20-day EMA and the top of the tight range at $0.45624. Until then, every pullback will be sold into. We suggest traders wait for the trend to reverse before initiating any long positions.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Cryptocurrency Accepted: Venezuela Will Sell Oil for Petro, Maduro Says

The government of Venezuela has announced that it plans to create a basket of cryptocurrencies for the oil-backed state cryptocurrency, the Petro. This initiative will allow the government to sell oil in exchange for petros and bypass US-imposed sanctions at the same time. The sale and purchase of crude oil with cryptocurrency will begin in

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Coinbase Opens the Door to More Than 30 New Cryptocurrencies

Coinbase has announced that it plans to list over 30 cryptocurrencies, with many more to follow. In its largest listing spree to date, the California-based exchange will add dozens of cryptocurrencies in the coming months, including dai, mana and neo. Moving forward, Coinbase ultimately plans to add over 90 percent of “all compliant digital assets.”

Also read: SEC to Decide Fate of Vaneck Solidx Bitcoin ETF by Late February

Coinbase Embarks on a Listing Blitz

Coinbase Opens the Door to More Than 30 New CryptocurrenciesOn Dec. 7, Coinbase shared an ambitious plan to list scores of digital assets. The seven cryptocurrencies it currently supports, BCH, BTC, ETH, LTC, ETC, ZRX, and BAT, will soon be complemented by over 30 more. A company blog post explained: “Coinbase’s goal is to offer support for all assets that meet our standards and are fully compliant with local law. Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap.”

While focused on ERC20 tokens, the listing blitz will also include assets operating on other networks such as NEO and XRP. Ripple’s native cryptocurrency had long been a source of speculation, with both the company and its token-holders eager for XRP to be added to the dominant U.S. exchange. While their wish will now come true, ripple will have to share the limelight with many other tokens scheduled to be added around the same time.

Coinbase to Compete With Token-Rich Exchanges Such as Binance

Coinbase Opens the Door to More Than 30 New CryptocurrenciesOne of the main drivers behind Coinbase’s aggressive listing policy will be the desire to claim a slice of the trading volume being absorbed by token-rich exchanges such as Binance, which operates 393 markets. Okex has 415 and Huobi 290 trading pairs. Coinbase made record profits last year, but its financials for 2018 will show a major drop in revenue as market conditions have reduced the appetite among retail investors for cryptocurrencies such as BTC, ETH, and BCH.

The full list of cryptocurrencies Coinbase has shortlisted for addition comprises cardano (ADA), aeternity (AE), aragon (ANT), bread (BRD), civic (CVC), dai (DAI), district0x (DNT), enjincoin (ENJ), EOS (EOS), golem network (GNT), iost (IOST), kin (KIN), kyber network (KNC), chainlink (LINK), loom network (LOOM), loopring (LRC), decentraland (MANA), mainframe (MFT), maker (MKR), NEO (NEO), omisego (OMG), poet (POE), quarkchain (QKC), augur (REP), request network (REQ), status (SNT), storj (STORJ), stellar (XLM), ripple (XRP), tezos (XTZ), and zilliqa (ZIL).

Coinbase Opens the Door to More Than 30 New Cryptocurrencies

“Some of these assets may become available everywhere, while others may only be supported in specific jurisdictions,” concluded the blog post. Coinbase Pro has since announced that it will begin accepting deposits for civic, district0x, loom, and mana ahead of trading commencing.

What are your thoughts on the 30 cryptocurrencies Coinbase intends to list? Let us know in the comments section below.


Images courtesy of Shutterstock and Coinbase.


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Verge Price Hints at Rebounding Following Major Gains in BTC Value

As the troublesome cryptocurrency market momentum continues. It would appear some interesting things are on the horizon. With the one-hour candles looking extremely bullish all of a sudden, there may be a positive end to the week after all. Verge is one of the only currencies going in the green right now, although it needs Bitcoin’s momentum to remain in place.

Verge Price Makes a Big Move

It is quite interesting to keep an eye on the cryptocurrency markets right now. Although there is still a sea of red, there is some interesting momentum in the 1-hour chart department. It is uncanny how markets can rebound all of a sudden, even though ensuring these gains remain in place will be a different matter altogether.


Over the past 24 hours, there has been a small but meaningful Verge price increase. The 3.5% in USD value and 9.5% gain in Bitcoin value show all markets need a small injection of fresh capital to note successes. The main problem is how the weekend is around the corner, which will result in all fiat liquidity drying up. When that happens sideways and bearish momentum will materialize with ease.

There are some interesting developments taking place which do warrant a Verge price uptrend. A new development update has been provided, which touches upon some interesting upcoming changes for Verge as an ecosystem. Although no immediate changes will materialize, these development updates will keep the community engaged during these harsh times.

Secondly, Mihael Radolovic is keeping the community engaged with an advent calendar New stories are published every single day to not just inform the novices about Verge as a currency, but also provide some buzz for this somewhat forgotten altcoin. A few months ago, Verge was the talk of crypto town, but those discussions seem long gone.

When looking at the Verge price chart, it is evident things are looking rather impressive. It is quite similar to how the price suddenly went through an uptrend in late 2017, although it seems unlikely such a massive trend will materialize in late 2018. Unless Bitcoin does something unprecedented, this Verge price trend may not remain in place for long either.

All things considered, every single altcoin needs Bitcoin to rise in value right now. Verge is no exception in this regard, even though some diehard supporters may gladly claim otherwise. Without Bitcoin, none of the other cryptocurrencies can succeed. While that is an unfortunate trend, there is also little to be done about it under the current circumstances.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

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US Bills Seeks to Protect Cryptocurrency Investors from Market Manipulation

Two US congressmen introduced bipartisan legislation designed to prevent cryptocurrency price manipulation and position the United States as a leader in the crypto industry. Democrat Rep. Darren Soto of Florida and Republican Rep. Ted Budd of North Carolina unveiled the following bills: Virtual Currency Consumer Protection Act. This bill directs the CFTC to explain how

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BitMart Announces Partnership with CertiK in Blockchain Security and Smart Contract Auditing

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned

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Bitcoin Price Watch: Hope for a Bitcoin ETF Is Starting to Vanish

At press time, bitcoin is trading for just over $3,800. This is no different from where it was during out last price piece, suggesting that the currency may be settling down for the time being.

However, we are witnessing bitcoin as it stands at a 15-month low. While the currency dropped closer to $3,600 earlier in the week, bitcoin worked itself hard enough to maintain its present position over the past few days. Despite the drop, it climbed its way back up to $3,800 in due time, but that doesn’t change the fact that the price is still sinking – especially in comparison to this time last year.

BTCUSD: BTC to $3,200 then $1,226 Before a Final DROP To $398

Chart by London55555

In all, bitcoin has fallen by roughly 80 percent since that time. In addition, it’s being joined by some of its crypto-cousins, all of whom have fallen in price and value over the past few weeks. Currencies like Tron, Cardano and EOS are dangerously close to zero, leaving many wondering if these coins are set to die off.

As we’ve all seen in the past, virtually anything is possible in the crypto space, meaning we could still see these currencies and others like them spin around without delay once the new year takes hold. The question is, “How long would it take to see a complete reversal of the market’s present circumstances, and could this occur before many of these coins disappear outright?”

There is little to suggest why this crypto winter is occurring, though recently, a pro-crypto member of the Securities and Exchange Commission (SEC) found herself arguing with her fellow colleagues as to why a bitcoin exchange-traded fund (ETF) was necessary. The battle produced few viable results, and it’s hard to say when – or even if – a bitcoin ETF will get the attention it needs.

SEC commissioner Hester Peirce commented:

“Don’t hold your breath. I do caution people to not live or die on when a crypto or bitcoin ETF gets approved.”

According to Naeem Aslam – chief market analyst with Think Markets UK Ltd. – these words aren’t a good sign and suggest that all hope for a bitcoin ETF has allegedly been dashed. In a recent blog post, he commented that bitcoin could be set to drop to $2,000 in the coming weeks and may even test $1,500 before potentially bottoming out.

He mentioned:

“Simply put, the bad news keeps coming just like cockroaches coming out of a hole.”

Timothy Tam – CEO of cryptocurrency research firm CoinFi – also spoke of hope surrounding an ETF, stating:

“Historically, there is price correlation with expectation of an ETF approval and downward movement when the ETF gets rejected or delayed. Sentiment among retail investors in the crypto space is already negative, so any negative news like this generates an overreaction.”

Bitcoin Charts by TradingView

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French Firm Becomes Europe’s First Regulated Crypto Asset Manager Funded by an ICO

France has one of the toughest regulatory environments in Europe and the world generally when it comes to finance and specifically cryptocurrency. The country has in recent times taken a few cursory steps toward becoming a hub of ICO activity, but strict enforcement of crypto regulations is the cost of doing business in a well-connected

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After Year-Long Wait New York-Based Exchange Gemini Lists Bitcoin Cash

After a Year-Long Wait the New York-Based Exchange Gemini Lists Bitcoin Cash

Cryptocurrency exchange Gemini announced the launch of bitcoin cash (BCH) support and detailed that BCH will be available for trading on the platform this weekend. Bitcoin cash supporters have been waiting for Gemini to list BCH since the fork on Aug. 1, 2017. Beginning Saturday, at 9:30 a.m. EST, customers will be able to deposit bitcoin cash into their Gemini account in order to trade.

Also read: Previously Inactive Whales Are Moving Large Amounts of BTC

Gemini Exchange Adds Bitcoin Cash Support

After Year-Long Wait New York-Based Exchange Gemini Lists Bitcoin CashBitcoin cash fans found out on Dec. 7 that the New York-based trading platform Gemini was adding BCH to the exchange interface this weekend. It’s been 15 months since the Aug. 1 BCH fork, and proponents have been waiting for what seemed like forever for Gemini to list the coin. The exchange will add bitcoin cash with five trading pairs which include USD, BTC, ETH, LTC, and ZEC. Gemini’s vice president of engineering, Eric Winer, detailed that BCH seeks to “build on the goal of the original Bitcoin and become an electronic cash system.” Furthermore, in light of the recent Nov. 15 hard fork which resulted in a split and the birth of BSV, the company explained that the BCH ticker will be assigned to the ABC side of the fork.

BCH Will Be Available for Gemini’s Trading and Custody Services, but No BSV Support

Bitcoin Cash, a fork of the Bitcoin network, was recently forked into two distinct networks and blockchains: Bitcoin ABC and Bitcoin SV — At this time, we will only be providing support for the Bitcoin ABC network and we will be referring to it as Bitcoin Cash with ticker: BCH,” detailed Winer’s post.

The engineering executive also noted the company had added replay protection and continued by stating:

Any cryptocurrency sent to Gemini over a blockchain that we do not support, such as Bitcoin SV (BSV), will be invalid and irrecoverable. We are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.  

Of course, BCH proponents were pleased to hear that the trading platform was finally adding bitcoin cash. Moreover, on Dec. 6, the bitcoin cash fork BSV jumped ahead of BCH as far as coin market capitalization is concerned. However, since the Gemini announcement, BCH has temporarily reclaimed the fifth position but both assets have been toe-to-toe in price over the last 48 hours.

After Year-Long Wait New York-Based Exchange Gemini Lists Bitcoin Cash
A preview of the BCH trading engine on Gemini. Trades will open tomorrow, Dec. 8, 2018, at 9:30 a.m. EST.

Gemini’s Winer further detailed that the company worked closely with the New York State Department of Financial Services (NYSDFS) in order to list BCH. Winer and Gemini associates believe the New York company is “the world’s most regulated cryptocurrency exchange and custodian.” Bitcoin cash will also be available to Gemini’s cryptocurrency custody business model which aims to attract institutional investors.

What do you think about Gemini adding bitcoin cash (BCH) to the company’s trading and custody services? Let us know what you think about this subject in the comments section below.


Images via Shutterstock, Gemini, Twitter, and Pixabay.


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