Humor: Bitcoin SODLers Now Can Easily Sell the ‘Bottom’ with PayPal

The crypto-winter is looking like it might become a crypto-year. Thankfully, Coinbase has the astute trader in mind. In an innovative move, Coinbase’s U.S. customers can now instantly withdraw balances to PayPal, making panic selling easier than ever.

These withdrawals are not only fast and free, but they also give users the comfort of knowing that the authorities can monitor these crypto-sales and ensure those funds are safe and sound.

According to Coinbase, “moving your cryptocurrency to cash is easier and more affordable than ever.”

Previously, Coinbase users had to go through the cumbersome process of wiring digital funds to a traditional financial institution, like a bank. Banks begone! PayPal is ushering in a new era of digital currency. As said by Coinbase:

“We’re always looking for ways to not only meet the bar set by traditional finance, but raise it.”

TRON can kiss its lead goodbye because PayPal boasts insane transaction throughput, exceeding 50 million tx per second. Ripple and XRP Ledger seem silly when anyone, not just banks, can send an international remittance for a mere 2.2 percent fee. Even EOS has something to worry about with PayPal’s arbitration-based dispute resolution.

Furthermore, the PayPal app has a functional—even delightful—user experience for phone and tablet. Why anyone would choose to use dApps willingly, other than as a tool for masochistic pleasure, is beyond most observers.

Ethereum-based DApp Ponzi Games Ranking Highest in Daily Usage
Related: Ethereum-based DApp Ponzi Games Ranking Highest in Daily Usage

Like Cardano, users can attach a debit card to a PayPal account for a seamless spending experience. Unlike Cardano, PayPal didn’t need 100 PhDs to build their service. Now that’s efficiency.

Given these factors, it’s easy to see why people should switch to PayPal (PYPL). Coinbase’s PayPal integration is perfect for users who want the convenience of digital currency without the inconvenience of decentralization. Instead of being a decentralization zealot, why not act like a rational person and put your financial and economic sovereignty into the palms of a benevolent corporation, like PayPal?

As the ‘professionals’ on Reddit say, Bitcoin is clearly an elaborate Ponzi scheme meant to line Satoshi Nakamoto’s pockets. However, for those intent on playing with fire, they should consider Bitcoin Cash’s more ethical “reverse funnel system.”

Even respected experts like Nouriel Roubini and other Twitter price-prediction mavens say that it’s better to sell your BTC at highs of $3200 than lows of $0.

The cryptocurrency markets could go to zero as soon as Q1 of 2019. Given those risks, the best course of action for clever holders is to empty their Trezors, empty their Nano Ledgers, and send all of their crypto to Coinbase to take advantage of fast and free fiat withdrawals.


GIF courtesy of Coinbase

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Top 10 Common Questions About Dogecoin Answered

dogecoin questions

We identified some of the most common questions that people ask about Dogecoin. While most people have heard of Bitcoin, not everybody is that familiar with Dogecoin. In this article we answer some of the most asked questions questions about DOGE.

1. What Are Dogecoins Used For?

Dogecoins are mostly used for tipping others on social media platforms using the SoDogeTip bot and purchasing goods and services in DOGE. Some services that accept Dogecoin include AirVPN, Keys4Coins, Bitcoin Jerky, Frontier Vapor and much much more.

2. What Is the Purpose of Dogecoin?

Dogecoin’s purpose was originally meant to be a cryptocurrency designed to reward meme creators, however much has changed since. At its core, Dogecoin is a clone of Bitcoin with a much higher amount of coins. DOGE is meant to be spent, and tipping bots are one of DOGE’s most popular uses.

3. How Much Is Dogecoin Worth?

At the time of writing, Dogecoin is worth $0.002 – or one fifth of a cent. DOGE’s price peaked at a high of 1.7 cents back in January of 2018 and has been bouncing off of the $0.002 support level ever since.

4. How Many Dogecoins Are Left?

Because there is no cap on the amount of Dogecoins that can exist, the amount of Dogecoins left is unlimited.

5. Will DOGE Reach $1?

If Dogecoin’s price reached $1 that would put the total market cap of the cryptocurrency at a whopping 117 billion. That is a higher market cap than all cryptocurrencies combined. In its current state it is not likely that Dogecoin will reach $1, however if some new developments or use cases get introduced to DOGE, anything is possible.

6. Can Dogecoin Be Mined?

Yes! Dogecoin can be mined. Because it is a clone of Bitcoin you can mine Dogecoin just like you can mine Bitcoin. One key difference is Dogecoin uses a different mining algorithm than Bitcoin (Scrypt vs Sha256), so you have to use miners specifically designed for that algorithm.

7. Does Amazon Accept Dogecoin?

As of right now, Amazon does not accept Dogecoin. In fact, it doesn’t directly support any cryptocurrency. If you are adamant about using your cryptocurrency to purchase items from Amazon, there are websites that will sell you Amazon gift cards for Bitcoin and other cryptocurrencies. There is also a petition asking Jeff Bezos Amazon CEO to support Dogecoin. The petition received over 20,000 signatures so far, only 5,000 away from its goal of 25,000.

8. How Many Dogecoins Are in Circulation?

At the time of writing, there are 117 billion (117,395,195,122) DOGE in circulation.

9. Is There a Limit to Dogecoin? / How Many Dogecoins Will There Be?

There is no limit on the total supply of Dogecoins. Every time a new block is found, 10,000 DOGE are created. That means that every single day, about 14.4 million Dogecoins are added to the total supply.

10. How can I buy Dogecoins?

If you are in the United States it is best to first buy Bitcoins from Coinbase, then transfer those bitcoins to an exchange that has a DOGE / BTC trading pair and convert your Bitcoins to DOGE. In order to fully secure your coins and not leave them on the exchange you will also need to get a personal wallet that can support Dogecoin.

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ICOs Continue To Liquidate Ethereum (ETH) War Chests Amid “Crypto Winter”

Since 2018’s cryptocurrency “winter” came into existence, tokens generated via initial coin offerings (ICOs) have severely underperformed their macro cap counterparts, namely Bitcoin (BTC) and Ethereum (ETH). This has led a multitude of projects, who formerly relied upon their ICO-funded war chests, to take drastic measures in a bid to stay afloat.

ICO-funded Projects Sell 416,000 Ethereum (ETH) In Past 30 Days 

According to data gathered by Santiment, relayed through TrustNodes, ICO-funded projects have spent (sold) a jaw-dropping 416,000 ETH in the past 30 days. At the current price of $87, such an amount of Ether amounts to $36.19 million in U.S. dollars — not a small sum, to say the least. This recent influx of liquidation orders is purportedly the most notable since the Summer.

Per Santiment, a leading cryptocurrency analytics provider, SingularDTV has been the largest spender of Ether in the past month, reducing its ETH balance to 165,000 after utilizing 60,370. Aragon and Kyber Network followed closed behind SingularDTV, both liquidating 50,000 Ether in the aforementioned time frame. It is important to note, however, that Ethereum-centric projects still have millions of Ether in their still-stocked war chests.

Regardless, this recent move underscores the fact that a number of projects have been subject to bear market-induced pressure.

Hasn’t Been Easy To Stay Afloat In A Crypto Bear Market

Interestingly, Ethereum-centric chat application Status, which has been a high-rolling ETH spender in the past month, recently divulged that it would be cutting 25% of its staff (~25 employees). In an address to Status’ recent townhall, Jarrad Hope, the co-founder of the upstart, claimed that as his firm’s war chest has been reduced drastically, it was logical to layoff “non-essential” staffers. Hope even asked employees to take a pay cut, in an apparent bid to extend Status’ runway, and to survive the tumult that cryptocurrencies have found themselves in.

Although such a business decision is evidently tough, some would argue that Status has had it easy. Steemit, the private company behind a decentralized media platform that shares its name, also had to undergo a shift in business in recent weeks. As reported by NewsBTC previously, Steemit CEO Ned Scott took to his personal Youtube channel to layoff “close to 70% of the team.” Ethereum development studio ConsenSys followed suit, claiming that it had purged 13% of its employees, as it had become apparent that the distributed startup had overextended its funding.

Related Reading: Crypto Jobs Get Squeezed as Markets Continue to Free-fall

While ConsenSys, Steemit, and Status are evidently reeling in pain, metaphorically speaking, some startups have been wiped off the face of Earth entirely. ETCDEV, a key development consortium in the Ethereum Classic ecosystem, folded just two weeks back, with the firm’s CTO citing financial restraints as the catalyst behind the group’s collapse. This revelation comes just days after Artamonov, the firm’s CTO, released a Medium article lambasting one of his peers for being a “Trojan Horse” for another team.

Featured Image from Shutterstock

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Romania Bitcoin Exchange CoinFlux Halts Activities after CEO’s Arrest

CCN recently reported on the case of CoinFlux CEO Vlad Nistor. The Romanian bitcoin exchange executive has been arrested on suspicion of money laundering and other crimes and is currently fighting extradition to the United States. Earlier this week, CoinFlux posted to Medium.com to inform followers that they are unable to access parts of their

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Decred Co-founder Pronounces 2018 as the “Death of the ICO Model”

ico model death

There are some interesting questions as to what the future will hold for all cryptocurrencies and digital assets. The year 2018 hasn’t offered much positive news, yet next year could be totally different. A few industry experts have weighed in on this question, although their outlooks are quite different from one another.

Looking Beyond 2018’s Bearish Trend

Considering how much proverbial damage has been done to the credibility of cryptocurrencies in 2018, no one will be surprised if this trend continues throughout 2019. As there is more bearish pressure now than ever before, there doesn’t appear to be any reason to expect an uptrend in the foreseeable future. Nothing warrants a price reversal for any currency. As most coins rely on Bitcoin’s price, that can lead to some problematic developments throughout the year to come.

Industry experts are not too sure what to make of this industry for the foreseeable future either. It is safe to say initial coin offerings will not return to the same level of hype and speculation as the industry has seen prior to this year. Decred co-founder Jake Yocom-Piatt is convinced the ICO model “died” in 2018 and numerous failures have been recorded in the process. However, he also believes that 2019 will offer something exciting:

“2019 will not be about exciting new ways to use blockchains. It will be about which cryptocurrencies get the fundamentals right, organize their collective intelligence, and can endure the gyrations induced by ignorant prospecting. Just like during the dot com bubble, endurance matters. Those that survived the dot com crash stood tall over those who ran out of gas. It was those projects that came to dominate the space.”

That in itself is a very interesting statement. The part about not being the year of blockchain is normal, as that has become very apparent throughout 2017 and 2018. This technology, while omnipotent and subject to a lot of hype, simply doesn’t have the clout some early adopters expected it to generate. Instead, it has become a buzzword in the wrong sense. Blockchain fatigue is very much present right now and it seems that will not necessarily change in 2019.

The main question is whether or not the mainstream adoption of cryptocurrency will ever happen. All of these coins and assets are speculative in nature. That image has been reinforced significantly throughout 2018. As such, Bitcoin and altcoins are less of a transaction tool and more of an investment which no one uses on a regular basis. eMusic President Amir Koch has an interesting view on the matter. He explains it as follows:

“Despite the market downturn, 2018 was the year where mainstream adoption of crypto began to gain steam. I believe 2019 will be a major step forward, with a huge player coming out and embracing crypto, such as a payment company accepting crypto, pushing adoption by the public into the mainstream. 2019 will also be the year of the reverse ICO. Gone are the days of companies with just a white paper and a dream.”

As such, it seems evident the year 2019 will offer many potential changes. Not just for cryptocurrencies, but also for their underlying blockchains, dApps, smart contracts, and so forth. How all of these changes will affect the prices, is very difficult to predict. Cryptocurrencies usually do not respond well to positive news or genuine real-world developments. Instead, the hype cycles create artificial value rises and following retraces.


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 in any cryptocurrency.

The post Decred Co-founder Pronounces 2018 as the “Death of the ICO Model” appeared first on NullTX.

A Look at Some of 2018’s Most Popular Cryptocurrency Traders

A Look at Some of 2018’s Most Popular Cryptocurrency Traders

Cryptocurrency trading is a popular pursuit, as the fluctuation of digital assets provides plenty of profit-taking opportunities. The volatility gives expert traders enough room to pull in daily profits by carefully predicting price movements. Digital currency fans follow a slew of sophisticated traders online because they frequently publish technical analysis (TA) or short-term outlooks for the crypto markets.

Also Read: Despite 2018 Bear Market, Top Crypto Markets Have Outperformed FANG Stocks Since 2017

Despite the Dips, Cryptocurrency Intra-Day and Swing Traders Made a Lot of Money in 2018  

Here’s a look at the top cryptocurrency traders on Twitter and the TA publishing website Tradingview. The digital asset traders mentioned below have thousands of followers, and often publish their ideas so others can get a glimpse at their trading positions. There’s a lot of money to be made trading cryptocurrencies and there are many people who exchange digital assets for a living. Lots of intra-day and swing traders play the markets for profits every day and any type of movement can make them money. The 2017 digital currency bull run made crypto traders a bunch of capital, with the best even using the 2018 cryptocurrency bear market to make further profits.

Philakone

A Look at Some of 2018’s Most Popular Cryptocurrency Traders

The first analyst on our list is the Canadian cryptocurrency trader Philakone (@PhilakoneCrypto). He’s been tweeting his analysis of various digital currency markets for quite some time and has amassed over 107,000 followers on Twitter. The trader habitually talks about bitcoin trading on a regular basis and explains how he is playing his current position. Philakone says he’s “married to the Elliot Wave Theory,” a form of technical analysis that uses investor psychology, optimistic and pessimistic trends, and price swings that produce market impulses and waves. The method created by Ralph Nelson Elliott is a popular technique used by many cryptocurrency traders. Crypto trader Philakone live streams his technical analysis for coins like BTC, XRP, and BCH.

A Look at Some of 2018’s Most Popular Cryptocurrency Traders
Philakone tweets frequently about cryptocurrency movements and how to forecast swings.

Nick Core

A Look at Some of 2018’s Most Popular Cryptocurrency TradersAnother trader people follow is Nick Core (@Crypto_Core), a day trader and statistician who routinely explains his bitcoin market outlook on Twitter, Youtube, and Tradingview. Core’s analysis gives an overview of digital asset price action and other indicators throughout various videos and the trader also discusses technical positions on the Discord platform. The trader has 33,000 followers on Twitter and almost 7,000 following his Tradingview outlooks. An examination of Core’s published ideas shows the trader will use exchanges like Bitfinex and Bitstamp, with most of his analysis on coins like BTC, XRP, and LTC.

A Look at Some of 2018’s Most Popular Cryptocurrency Traders
Nick Core’s TA videos on Tradingview are quite popular and Core tweets about cryptocurrency markets regularly on Twitter.

Mr. Jozza

A Look at Some of 2018’s Most Popular Cryptocurrency TradersMr. Jozza (@MrJozza) is a well-known bitcoin trader who posts a lot about the market trends taking place nearly every day. For instance, on Friday, Dec. 14, speaking about current BTC/USD trends, Mr. Jozza explains his  “Bitcoin scribble of destiny — Looking for a stop-run below $3k, even with this tapered off sell volume” while sharing a chart that shows his short-term forecast. The trader has more than 16,000 followers on Twitter and his posts mostly touch upon BTC/USD market trends.

A Look at Some of 2018’s Most Popular Cryptocurrency Traders
Mr. Jozza is a long-time bitcoiner and trader who frequently gives his analysis of BTC and other cryptocurrency price movements.

Magic Poop Cannon

A Look at Some of 2018’s Most Popular Cryptocurrency TradersOne interesting and popular strategist on the website Tradingview has over 44,000 followers and goes by the name Magic Poop Cannon. The trader’s 500+ written ideas concerning the price of BTC and other market trends have received close to 1 million views to date. Magic Poop Cannon’s TA is filled with descriptions and indicators that show what he thinks will happen with the value of bitcoin over short-term periods. The trader believes he is “the master of the charts” and he posts his TA nearly every day. Magic Poop Cannon is big on writing about BTC, LTC, BNC, and even stocks tied to the blockchain industry like Nvidia.

A Look at Some of 2018’s Most Popular Cryptocurrency Traders
Magic Poop Cannon is one of the most popular BTC/USD analysts on the platform Tradingview.

Excavo

A Look at Some of 2018’s Most Popular Cryptocurrency TradersAnother well-known trader on Tradingview is an analyst who calls himself Excavo. The analyst is Tradingview’s most read BTC/USD strategist and has close to 70,000 followers on the platform. Excavo has written 1,227 technical analysis reports which have captured over 850,000 views. The cryptocurrency trader uses indicators like ‘long’ and ‘short’ positions on Bitfinex and other market trends to figure out whether or not the price of BTC is going up or down. Excavo also has his own trading Telegram channel and he discusses other markets besides cryptocurrencies as well. His last post on “The Unofficial Start of the Financial Crisis” gives a TA reading of the Dow Jones Industrial Average on the brink of a market slump. 

A Look at Some of 2018’s Most Popular Cryptocurrency Traders
Excavo is Tradingview’s most popular analyst on the entire site according to all-time records.

Cryptobull

A Look at Some of 2018’s Most Popular Cryptocurrency TradersCryptobull (@CryptoBull) is a bitcoin and altcoin trader who’s very well known on Twitter, with 173,000 followers on the social media platform. On Saturday, Dec. 15, Cryptobull explained that BTC was slightly below the weekly 200 moving average (MA) and noted “Historically we don’t spend a lot of time here.” The trader is quite humorous in his daily tweets, but in between the slew of cryptocurrency-themed memes, Cryptobull gives his price movement forecasts. Besides detailing some short-term BTC trends last week on Dec. 6, Cryptobull had a survey asking his followers whether or not the “bottom was in.” More than 52% of the 6,472 people polled voted that the “bottom was not in” and BTC prices would likely go lower. Cryptobull focuses his energy on BTC trades.

A Look at Some of 2018’s Most Popular Cryptocurrency Traders
Cryptobull tweets about market sentiment often.

Mr. Swing Trader

A Look at Some of 2018’s Most Popular Cryptocurrency TradersThe cryptocurrency trader Eric Choe (@CryptoChoe aka Mr. Swing Trader) gives his insights on a daily basis to 142,000 Twitter followers. Choe says he makes a “few big trades” per week and claims he can turn $1K into “whatever.” The popular Mr. Swing Trade also has a Telegram channel and makes swing trade calls on a regular basis. On Friday, Choe detailed how he trades when he’s “too busy” stating that he plans trades on Sunday, scans 250 coins, identifies up and down trends, sets alerts and retrace levels, enters on pullbacks, and exits at key levels. The trader says he employs this technique for 2-5 cryptocurrency trades per week. Choe’s website and trading group statistics show the trader usually has positions in BTC, XRP, ETH, and EOS.

A Look at Some of 2018’s Most Popular Cryptocurrency Traders
Eric Choe’s trading results he shares on his trading Slack channel.

Xuan Haimmoer

A Look at Some of 2018’s Most Popular Cryptocurrency TradersThe cryptocurrency trader Xuan Haimmoer from Vietnam is a popular author on the Tradingview platform with over 6,000 followers. He’s been a top TA publisher on the charting website over the past few weeks and has published 571 posts on BTC, XRP, EOS, and other cryptocurrency markets. 14 hours ago, Haimmoer provided his analysis for BTC and said he wakes up every morning to look at the screen and watch the market. Haimmoer likes to note the changes that have taken place after his last analysis. The trader uses the Elliot Wave trading method as well, and at the moment his short-term target is between $2,800-3,000 per BTC. Haimmoer also runs his own trade discussion channel on Telegram for people interested in his trading reports.

A Look at Some of 2018’s Most Popular Cryptocurrency Traders
Xuan Haimmoer is an up and coming Tradingview analyst from Vietnam who has garnered a bunch of attention over the past few weeks.

Trading Strategies That Are a Bit More Realistic Than Wall Street Bigwigs

There are many other traders that cryptocurrency enthusiasts follow in order to get a perspective of what may or may not happen next within the crypto-economy. Some of them are not even necessarily dedicated crypto traders, but do speak on the market from time to time, like the inventor of the Bollinger Bands technique John Bollinger (@bbands). Other individuals to follow include the Whaleclub administrator BTCVIX (@BTCVIX ), Willy Woo (@woonomic) and the semi-retired cryptocurrency trader ‘฿TF%$D!’ (@CryptoHustle).

A good portion of digital currency proponents follow traders like the ones mentioned above, because their prognosis is more realistic than that of old Wall Street farts constantly shouting that BTC’s price will be $25,000 by the year’s end. These traders have been far more down to earth and a number have successfully called short-term cryptocurrency swings. It’s not smart to follow these traders’ every move, because even experts are often wrong, but it’s always nice to get an overall glimpse of how a good portion of pro traders are feeling. Another thing to consider is that some of the so-called ‘expert’ traders on Tradingview and Twitter have been openly criticized for trading techniques, shilling, and other erroneous errors. For instance, even though some of these strategists have over a hundred thousand followers, online critics have denounced a few of the traders mentioned above.

What do you think about the traders mentioned above? Are there any traders that you follow that we missed? Let us know your thoughts about this subject in the comments section below.

Disclaimer: The traders, methods, and subjects mentioned in the editorial above are intended for informational purposes only, and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” 


Images via Shutterstock, Twitter, and Tradingview.


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Coinbase Exec. Unpacks the Industry Giant’s About-Face on Crypto Listings

Coinbase Vice President Dan Romero has given reasons behind the platform’s recent announcement that it is exploring support for dozens of new cryptocurrency assets, arguably in contrast to its long-cautious approach to supporting individual crypto tokens. Speaking recently to Linda Shin on an episode of the Unchained podcast, he delved into the factors that predicated

The post Coinbase Exec. Unpacks the Industry Giant’s About-Face on Crypto Listings appeared first on CCN

Circle CEO: Bitcoin Price Will Boom In Years To Come

As the Bitcoin price has fallen throughout 2018, investors have sought solace in chaotic waters. Case in point, consumers en-masse have latched onto institutional forays, promising crypto-centric platforms, and ambitious price predictions from this industry’s finest in a bid to stay afloat. Investors’ thirst for the latter was quenched on Friday, as Jeremy Allaire, CEO of the Boston-based fintech upstart Circle, sat down with CNBC’s Squawk Box.

Jeremy Allaire Bullish On Bitcoin Price, “Tokenization Of Everything”

In a short interview with the outlet, Allaire, a long-time internet entrepreneur, opened up his segment by claiming that from a fundamental perspective, Bitcoin (BTC) and Ethereum (ETH) both look oversold. The Circle chief claimed that the “amount of usage” on the two networks justify higher short-term valuations for their respective assets.

Discussing the same topic from a long-term outlook, Allaire noted that while he isn’t exactly inclined to issue “significant price predictions,” he sees abounding potential in a network like Bitcoin, a system that facilitates a non-sovereign, store of value, and digital gold-like asset with a clear underlying thesis.

Related Reading: Prominent CEO: Bitcoin Isn’t Digital Gold Yet, But $10,000 Is Still Possible

Keeping this in mind, the American claimed that he “it is certainly going to be worth more than it is today” in three year’s time, before maintaining that he is “long” on the Bitcoin price, even as bears roam free. Articulating what is behind his nebulous, yet bullish forecast, Allaire stated:

“The key thing with bitcoin is [that] it’s unique in its security and scale. And as an idea that we need a scarce [and] non-sovereign store of value that individuals can hold, and hold in a protected fashion, [Bitcoin] is attractive all around the world.”

By the same token, Allaire, who doesn’t seem to embody the hallmarks of a Bitcoin maximalist, went on to note that he envisions a future filled with millions of crypto assets, whether they take the form of security, commodity, or utility tokens. In short, the long-time crypto advocate noted that he doesn’t believe cryptocurrencies are a “winner takes all” scenario, instead, he made it clear that a multitude of projects can live in relative harmony, due to this innovation’s ground-breaking potential.

Allaire isn’t the only industry insider to have appeared on CNBC to laud cryptocurrencies and their potential for the long haul. As reported by NewsBTC previously, Michael Bucella, a Goldman Sachs executive turned BlockTower Capital partner, made it clear that as the “smartest money is moving into” this industry, long-term legs upward are likely. Expanding on what he meant by “smartest money,” Bucella drew attention to the interest that MIT, Harvard, Stanford, and Yale have endowed onto cryptocurrencies and the firms maintain this ecosystem.

Featured Image from Shutterstock

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Digix Stablecoin Seeks to Put Gold on the [Ethereum] Blockchain

The stablecoin is still an evolving concept, and there have been multiple approaches to it. Dai has algorithmic methods to keep it tied to the US Dollar, while the multitude of stablecoins – USDT, PAX, GUSD, TUSD, and USDC — all simply offer a 1:1 exchange ratio. The recently-rebranded Ampleforth offers an elastic supply so

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Gab Says Bitcoin is The Clear Solution as ‘Free Speech Money’

Gab free speech money bitcoin

Censorship-free social media platform, Gab, took to Twitter to proclaim the gospel according to Bitcoin. Describing the grandaddy of cryptocurrency as “free speech money,” it pledged to educate its near million-strong community.


The Next Evolution Of Online Payments

In recent tweets, Gab calls for the next evolution of online payments, in the form of un-censorable money. This must take payment processing online out of the hands of a small number of gatekeepers. Touting Bitcoin as “the clear solution,” Gab cites Silicon Valley’s inability to de-platform it from using the cryptocurrency.

Gab sees its role now as being to make Bitcoin easy to purchase and use. Something it says it can (and will) achieve with enough education and time. Gab:

We aren’t doing it because it’s hip or cool or the latest technology fad. We are doing it out of necessity.

All well and good, but Gab is hardly the first to the ‘championing of Bitcoin’ table. What does it think it can bring with it which is different?

A Community Of Almost A Million People (And Growing)

Taking a clear swipe at what it calls “vaporware crypto startups,” Gab mocks their relative lack of interest from users. Despite raising tens of millions of dollars, these startups cannot match Gab’s highly engaged community, according to the tweets.

Gab claims its users have been “put through the ringer for years,” for standing by its mission of delivering free speech. It adds:

Bitcoin is inherently pro-liberty and pro-freedom. It is free speech money. Gab has the distribution to introduce it to a huge and growing community.

A million people doesn’t sound all that impressive though, next to over 35 million authenticated users, already using cryptocurrency. And it’s rather telling that Gab chose Twitter to spread its message, rather than its own platform.

No Room At The Inn

Gab’s championing of Bitcoin comes on the back of its recent banning from PayPal. Despite this, Gab starts the tweet-storm praising PayPal’s achievements in initially breaking down barriers to online payments.

Ironically, Gab has repeatedly found itself de-platformed, often as a result of its refusal to de-platform those who have been barred from other major platforms. This has led to a reputation as a haven for hate speech.

Despite this latest missive, Gab has not always had the smoothest of paths regarding Bitcoin. Earlier this year, it had its Coinbase account closed without warning. This led it to describe centralized exchanges as “cancer,” and “contradictory to everything crypto stands for.”

The social media platform has since switched to the self-hosted BTCPay Server solution, reducing its dependence on third-party payment processors such as Coinbase and BitPay.

Gab now claims it “…has the power and community to reverse the current bear market. That’s not an understatement.”

Holding your breath while waiting for that to happen is not, however, recommended.

Will Bitcoin be increasingly used by de-platformed entities? Share your thoughts below! 


Images courtesy of Shutterstock

The post Gab Says Bitcoin is The Clear Solution as ‘Free Speech Money’ appeared first on Bitcoinist.com.

Greenlight: All Top Cryptos See Gains, Bitcoin Nears $3,300

The top 20 cryptocurrencies are all in the green, two of them reporting double-digit gains, Bitcoin approaches over $3,300.

Sunday, Dec. 16: the top 20 cryptocurrencies are all in the green, seeing a mix of slight to solid gains, with Bitcoin (BTC) hovering over $3,200.

Market visualization from Coin360

Market visualization from Coin360

At press time, Bitcoin is up a little less than two percent over the last 24 hours. On the weekly chart, the current prices are slightly higher than the lowest point, registered on Dec. 15.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Ripple (XRP), the second largest cryptocurrency by market capitalization, gained over two percent in the last 24 hours. It started the day at $0.283 and is currently trading around $0.29, near its mid-day highest point of $0.294.

On the weekly chart, the current price is moderately higher than the lowest registered in the past seven days, equivalent to $0.282. Moreover, the current value is significantly lower than the $0.311 price with which XRP started the week.

Ripple 7-day price chart

Ripple 7-day price chart. Source: CoinMarketCap

Ethereum (ETH) remains the third largest cryptocurrency by market cap, gaining slightly less than four percent in value in the last 24 hours. At press time, ETH is trading just under $87, after having started the day around $83 and reporting moderate gains during the day.

On the weekly chart, the current price is higher than the lowest point of $83, but still notably lower than $95, the price at which ETH started the week.

Ethereum 7-day chart

Ethereum 7-day chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, some are reporting more notable growth. Bitcoin SV (BSV) is up just under 16 percent, while Litecoin (LTC) gained nearly 11 percent. Dash (DASH) registered a price increase of nearly 5 percent, while EOS (EOS) is seeing about 6 percent gains on the day to press time.

As Cointelegraph reported yesterday, Dec. 15, Stephen Pair, the CEO of crypto merchant platform BitPay, declared that he expects the mass adoption of blockchain for payments to occur in 3 to 5 years. He further noted that, when it comes to crypto, “adoption will push the prices higher.”

Pair’s statement is in line with what Jeremy Allaire, CEO of crypto finance company Circle, said to CNBC in a recent interview. Namely, when talking about Bitcoin, Allaire stated that he thinks “it is certainly going to be worth a great deal more than it is today,” within three years time.

Electroneum Price Gains Keep the Community Happy

etn price
  1. When it comes to the different cryptocurrency markets, Electroneum is an altcoin many people have seemingly taken a liking to. Similar to most other altcoins, it has a lot of expectations to live up to and its price has been battered throughout 2018. The current minor gains offer a small glimmer of hope, albeit there is still a very long way to go.

Electroneum Price is Alive and Kicking

It has been a while since the Electroneum price was discussed in an active manner. That is primarily due to the extended bear market which has kept all cryptocurrencies subdued for most of 2018. Although that trend has not come to an end just yet, some positive signs have become apparent. In the case of ETN, the current minor uptrend is an interesting, albeit potentially short-lived development.

Over the past 24 hours, there has been a minor Electroneum price increase of 3%. This pushes the value per ETN to $0.0063 which has been somewhat of a stable level for this altcoin throughout the second level of 2018. There is also a 1.2% improvement in the ETN/BTC ratio, which further indicates a push to the 200 Satoshi level is not entirely out of the question at this time.

On social media, there are a few ETN-related discussions worth keeping an eye on. Bitliber may effectively list Electroneum in an LTC paring over the coming week. That will only happen if there are sufficient votes to ensure this happens, though. Since there is no official timeline or ETA for integration, it is a bit unclear when such a trading market could go live.

Secondly, there are people who are simply content with what Electroneum is bringing to the table at this point. WALLst, for example, is smitten by the project’s roadmap and vision. That is a valid argument first and foremost, which also shows there is a long-term mentality present. Even so, a diversified portfolio is always advised, especially in the cryptocurrency world

It is evident the crypto expectations for 2019 may not necessarily be anywhere near the level most people would feel comfortable with. Xiaun Lee posted some interesting statistics, which would put the price per ETN at $0.17 by the end of next year. A very interesting prediction, although more people will be interested in seeing NEO hit $210 or XRP rise to $7.8.

All signs point toward a pleasant Sunday evening stroll where the Electroneum price is concerned. What comes tomorrow and the following days after, is a very different story altogether. Mondays are usually the opposite of Sunday, which would signal a bearish trend for Electroneum and other markets. No one knows what the future holds exactly, thus cautious optimism seems somewhat warranted.


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.

The post Electroneum Price Gains Keep the Community Happy appeared first on NullTX.

Lawyers to Help the Russian Crypto Industry Deal With Inadequate Laws

Lawyers to Help the Russian Crypto Industry Deal With Inadequate Laws

In the absence of a comprehensive regulatory framework for cryptocurrencies in Russia, lawyers have taken matters into their own hands. A new advisory body of legal experts will look into cases where the current legislation does not reflect the specifics of the growing digital economy and propose solutions.

Also read: CEO of Romanian Exchange Coinflux Arrested on US Warrant

Legal Commission to Solve Problems Stemming From the Lack of Proper Rules

Lawyers to Help the Russian Crypto Industry Deal With Inadequate LawsDuring a round table discussion on these issues, the Russian Lawyers Association and an educational organization called Blockchain Lawyers have agreed to establish a specialized commission that will address the legal challenges in the crypto industry. It will also work with companies in other related sectors such as blockchain development, artificial intelligence, quantum technologies and the internet of things.

The commission’s main task will be to provide answers to outstanding questions and solve problems arising from the lack of proper crypto regulations, the Russian outlet Bitcrypto News reported. The participants in the round table expressed confidence that the new body will be able to give legal definitions to many new economic and technological phenomena in the digital space.

The members of the commission will help projects and organizations in the industry to overcome specific challenges. Some of them are related to accounting and taxation, for example. The Russian government currently treats cryptocurrencies as “other property.” In the case of ICO tokens, however, the digital coins can also represent property rights. The problem is that the Russian tax code applies different rates to these two categories.

Lawyers to Help the Russian Crypto Industry Deal With Inadequate Laws

According to Mikhail Uspenskiy, partner at the law firm Taxology, keeping accounting records competently will be extremely difficult until Russian lawmakers finally adopt new laws to clearly define the legal nature of cryptocurrencies and tokens. However, the lower house of Russia’s parliament, the State Duma, has postponed the adoption of the legislation that was filed this past spring.

Russian Authorities Favor Conservative Approach to Crypto Regulation

Lawyers to Help the Russian Crypto Industry Deal With Inadequate LawsAfter introducing a number of changes to the original texts, Russian deputies eventually dropped several key terms such as “cryptocurrency” and “mining” from the main bill, the law “On Digital Financial Assets.” Representatives of the crypto industry protested against its latest version and even proposed their own, alternative bill that grants cryptocurrencies a “special status.”

In a recent statement, Russia’s deputy prime minister Maxim Akimov defended the conservative regulatory approach. Commenting on the recent market slump that decreased the capitalization of most decentralized cryptocurrencies, he also said that authorities in Moscow do not plan to introduce any more significant amendments to the draft legal framework.

During the round table, the legal experts discussed a number of other related topics such as the need to regulate law enforcement in the crypto industry and provide protection for the rights of cryptocurrency holders. The new commission is expected to deal with these issues as well. The body will operate within the Moscow regional branch of the Russian Lawyers Association.

What do you think of the idea to create a legal commission to support the growing Russian crypto industry? Share your thoughts on the subject in the comments section below.


Images courtesy of Shutterstock, Diar.


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Hong Kong Bitcoin Wiz Throws Millions From Rooftops, Subsequently Arrested

Crypto enthusiasts are always deemed a bit nutty by the public. Bitcoin, specifically to them, is an abstract concept that often represents little-to-zero intrinsic value, and altcoins aren’t much better. And unfortunately, the public’s negative conjectures towards the cryptosphere were confirmed on Saturday, as a Hong Kong Bitcoin millionaire dispensed millions of the local currency onto the public in an apparent publicity scheme.

Bitcoin Millionaire Embarks On Apparent Publicity Stunt

On Saturday evening, reports arose that a hooded man was spotted around Fuk Wa Street and Sham Shui Po, one of Hong Kong’s most underprivileged neighborhoods. The man, who was revealed to be serial cryptocurrency entrepreneur Wong Ching-kit, purportedly began to throw millions of Hong Kong dollars (HKD) onto the crowd below. Although police reportedly advised the public not to pick up the cash, the allure of no strings attached money overcame the authorities’ cries, as members of the public scrambled to obtain the seemingly endless stream of fiat.

At first, it wasn’t made clear who was behind this act of charity, nor the reason for it. But, as locals dug, they found a video of a man, known as Wong Ching-kit to most, addressing his Facebook followers after the stunt.

Contained in the video, which has since garnered hundreds of social media shares, is Wong embarking on a monologue, telling the camera that he was “robbing the rich to help the poor.” According to Mia Tam, a self-proclaimed “China crypto insider,” the crazed individual also claimed that he “feels as if he is a god,” before adding that he’s responsible to “teach the world about Bitcoin.”

It Isn’t All Sunshine And Rainbows

Initially, it seemed as though the stunt had paid off, as local media rushed to praise Wong for aiding the region’s underprivileged demographic. Yet, as later revealed in an exposé Twitter thread from Leo Weese, a Bitcoin enthusiast situated in Hong Kong, Wong, who also goes by a number of monikers, has had a more than checkered history. Weese claimed that he is “well-known” in the local crypto ecosystem for heading a “pyramid-like scheme,” before lambasting local outlets for praising a supposed criminal. Backing his inflammatory claim with some facts, Weese drew attention to an article that revealed he was associated with the so-called “London Golden Scam.”

According to Channel NewsAsia, Wong was arrested for “disorderly conduct in a public place,” not for his supposed involvement in mischievious crypto-related schemes. Still, many cryptocurrency savants see value in charity. Coinbase recently donated $10,000 worth of BTC to Syrian refugees, also contributing the same dollar sum in ZCash (ZEC) to Venezuelan families in the days prior.

Featured Image from Shutterstock

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Hydro to Fork Coinbase-Listed 0x (ZRX), Get Rid of Crypto Token

The Hydro Foundation has announced its decision to fork the 0x (ZRX) protocol. In a statement signed by CEO Tian Li, who is also the CEO of Ethereum DEX platform DDEX, the company revealed that even though 0x has contributed greatly to the growth of DDEX into one of the largest decentralized exchange (DEX) platforms on Ethereum,

The post Hydro to Fork Coinbase-Listed 0x (ZRX), Get Rid of Crypto Token appeared first on CCN

XRP Price Reaches $0.29 Again Following Fake Amazon Rumor

The current hourly cryptocurrency charts look incredibly weak, which means most cryptocurrencies will see another retrace in the coming hours. Until that happens, there is still some positive momentum where the XRP price is concerned. Although it hasn’t reclaimed the $0.3 level just yet, there is some positivity among community members. That sheer optimism can usually go a long way in this rather volatile industry.

XRP Price Inches Higher

It is quite interesting to keep an eye on the value of XRP during this bearish year. This asset has been beaten up quite severely, yet it seems to come up stronger every single time. It is also one of the more resilient markets to date, even though it can’t escape the gravitational pull of the world’s leading cryptocurrency – Bitcoin – these days.

Over the past 24 hours, however, there has been an interesting XRP uptrend on the charts. The 2.2% gain in USD value is promising, as it pushes the value to $0.29 again. This is still a hair short of retaking $0.3, although this current price is seemingly more than acceptable as well. There is also a 0.2 uptick in the XRP/BTC ratio, although that is almost negligible.

There is another rumor swelling when it comes to XRP. More specifically, some sources wrongfully assume there will be a partnership between Ripple and Amazon to push the usage of XRP forward. Since neither company has made any official statements in this regard, it is evident those rumors are nothing more than just that. It creates some excitement, although it may not necessarily materialize anytime soon, if ever.

What is genuine, however, is the Binance XRP buy wall which materialized just a little while ago. It was valued at a total of $1.1m, which is very significant bullish pressure. It is not exactly common for such massive buy orders to stack up on regular exchanges, although this may very well be a fake order to create some artificial momentum.

When looking at the technical fundamentals for XRP, it seems a bullish breakout is more than warranted. The asset is entering a narrowing channel and will either rise or decline in value in a spectacular fashion. So far, the chart leans toward breaking out on the upside, though nothing has been set in stone just yet.

All current signs point toward further XRP price stability, which is never a bad thing for enthusiasts and investors. While some people would prefer to see a big uptrend materialize prior to New Year’s Eve, that seems highly unlikely. Nothing warrants a big bull run right now especially because the weekdays will most likely wipe out any gains sustained throughout the weekend.


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.

The post XRP Price Reaches $0.29 Again Following Fake Amazon Rumor appeared first on NullTX.

Hodler’s Digest, Dec 10-16: Top Stories, Price Movements, Quotes and FUD of the week

The CEO of Mt. Gox is facing ten-years in Japan for embezzlement charges, and ASIC mining rigs are struggling to make a profit.

Top Stories This Week

CEO of Defunct Mt. Gox Exchanges Faces Ten Year Jail Sentence Over Embezzlement

Mark Karpeles, the former CEO of now-defunct Japanese Bitcoin exchange Mt. Gox, could be facing a ten-year jail sentence over charges of embezzlement. Karpeles, who headed the exchange during the major hack in 2014 that resulted in the loss of 850,000 BTC ($2.87 billion at press time), has denied any wrongdoing. Prosecutors in a Tokyo court this week have claimed that Karpeles had stolen around $3 million worth of funds from the exchange, in a case not connected to the hack.

Only Two ASIC Mining Rigs Remain Profitable in Current Crypto Markets

During this week’s cryptocurrency market crash, crypto mining machines are having trouble making a profit for their operators, according to data from a mining profitability site. At one point this week, ASICMinerValue.com  — which calculates real-time profitability for ASIC miners — found that only two were currently making any profit. Both of the profit-reaping miners were released in October 2018 and were making $0.58 and $0.21 in profits at the time. At press time, however, more than two miners are now in the green.

Canadian City of Calgary Launches Digital ‘Calgary Dollar’ for Intracity Transactions

The Canadian city of Calgary, located in the province of Alberta, has launched its own digital currency: the Calgary Dollar. The digital currency will allow citizens, using an app on their devices, to support small businesses and nonprofits by keeping funds within the city. The Calgary Dollar can be used at shops and restaurants that participate in the program and can be earned in various ways, such as by inviting friends to the app or posting an ad for goods and services priced in the digital currency.

US SEC Chairman Speaks Positively of Initial Coin Offerings as Capital Raising Tool

The chairman of the United States Securities and Exchange Commission (SEC), Jay Clayton, said this week that Initial Coin Offerings (ICOs) “can be effective” instruments for raising capital. During a speech given this week, Clayton noted that there are a “number of concerns” related to ICOs, but that they can be “effective” ways to raise capital providing that securities laws are followed. Clayton also mentioned the SEC’s Strategic Hub for Innovation and Financial Technology (FinHub), which will facilitate the agency’s involvement in fintech.

Samsung Refutes Rumors of Plans to Add Crypto Cold Wallet on Galaxy S10 Smartphone

Korean-headquartered transnational tech conglomerate Samsung has refuted rumors this week that it plans to launch a crypto cold wallet on its Galaxy S10 smartphone. The rumors began after the company filed three E.U. trademarks for blockchain- and cryptocurrency-software. SamMobile confirmed to Cointelegraph that the trademarks are part of the development of a Samsung proprietary cold wallet, which “may be launched” with the Galaxy 10 smartphone.

Winners and Losers

The cryptocurrency markets are holding steady, with Bitcoin (BTC) trading at around $3,275, Ripple (XRP) at around $02.38, and Ethereum (ETH) at around $86,29. Total market cap is about $104 billion.

The top three altcoin gainers of the week are Bolenum (BLN), Vestoria (VSTR) and SURETY (SURE). The top three altcoin losers of the week are BitF (BITF), KWH Coin (KWH) and DACH Coin (DACH).

For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

Most Memorable Quotations

“I believe that ICOs can be effective ways for entrepreneurs and others to raise capital. However, the novel technological nature of an ICO does not change the fundamental point that, when a security is being offered, our securities laws must be followed,” — Jay Clayton, United States Securities and Exchange Commission (SEC) chairman

“We’re totally at home in winter,” — Tyler Winklevoss, speaking about the crypto bear market

“The audience is more sober now—the drug is gone. [...] But it’s not going to zero. We’re at the methadone clinic,”  — Mike Novogratz, founder of Galaxy Digital

Prediction of the Week

Tom Lee: Bitcoin’s Fair Value Price Could Reach as High as $150,000

Crypto bull and co-founder of Fundstrat Global Advisors Tom Lee said this week that Bitcoin’s (BTC) “fair value” is much higher than its current price. In a note from this week, Lee also said that the coin’s fair value is between $13,800 and $14,800, also adding that the value could reach as high as $150,000. Lee added: “In fact, working backwards, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently.”

FUD of the Week

China: Central Bank Governor Defines STOs as ‘Illegal Financial Activity’ in the Country

The People’s Bank of China (PBoC), the country’s central bank, highlighted the illegality of Security Token Offerings (STOs) in the country in a statement this week. Pan Gongsheng reportedly told a summit in Beijing this week that both STOs and ICOs were “rampant” in the mainland, despite the “nationwide clean-up” of the crypto markets in China last year. In regards to the “STO business” in China, Gongsheng added that cryptocurrencies are still associated with crime.

Major Stablecoin Profit Basis to Shut Down and Return Funds to Investors

Major United States-based stablecoin project Basis will shut down operations and return most of its funds to investors. The algorithmic stablecoin project will return the majority of its $133 million in funding that it raised during a private placement in April, according to a report.

Bloomberg later reported that Basis’ CEO Nader Al-Naji confirmed that the impetus to close the project came from regulatory concerns over a type of token in Basis’ — as well as other algorithmic stablecoins’ — a system known as a “secondary token,” which helps keep the coin’s price stable. Al-Naji noted that there was no way to “escape” classification as a security.

Head of Largest Romanian Crypto Exchange Arrested for Fraud on US Warrant

Vlad Nistor, the CEO of Romania's largest crypto exchange Coinflux, was reportedly arrested on a warrant from the U.S. for fraud, organized crime and money laundering. Coinflux is an online digital currency trading platform, with reportedly more than 200 million euro worth of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) in transactions. Nistor was allegedly arrested in Romania at the behest of the U.S.

After this arrest, CoinFlux posted an announcement about a temporary suspension of all digital currency exchanges, noting that the investigation has also restricted its access to some parts of the platform.

Best Cointelegraph Features

Europe Takes Serious Steps Toward Blockchain Adoption

Cointelegraph explores how Europe is orienting itself towards blockchain and digital ledger technology as a whole. Looking at several initiatives, including the European Blockchain Partnership and the blockchain-based healthcare project, the analysis examines how Europe is working to become a “global leader” in DLT.

From South Korea to IBM Food Trust - How Blockchain Is Used in the Food Industry

In this analysis, Cointelegraph looks at how different companies and areas in the food industry use blockchain technology to bring transparency to their food chains, and why that the traditional use of blockchain doesn’t always work here.

Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto

Several Notches Above Ransomware An extortion scheme which sought to terrorize people into paying over BTC made global headlines over the course of the week. The threats happened worldwide, at a minimum being reported in the US, New Zealand, and Australia. The bomb threats demanded $20,000 in BTC in exchange for the terrorists to “give

The post Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto appeared first on CCN

Top 5 Crypto Performers Overview: EOS, Binance Coin, TRON, Litecoin, Bitcoin

A year after reaching all time highs, some of the top performers are testing year-to-date lows.

In December 2017, the market participants were eagerly waiting for the total crypto market capitalization to touch $1 trillion. Fast forward to December 2018, and the total market capitalization is struggling to hold on to the $100 billion mark.

This shows the complete change in sentiment in the past one year: last year, it was fear of missing out and this year it is fear of losing all the money invested in cryptocurrencies.

During extremes of the bull or the bear phase, the markets overshoot and undershoot the technical targets by a large margin. We believe that the decline has reached a panic state, which will end with a bottom formation, sooner than later.

Therefore, investors who believe in the long-term potential of the asset class should be ready to invest once the decline ends. The downside risk from the current levels is limited while the upside potential is attractive.

EOS/USD

EOS (EOS) block producers are operating in negative margins and many will land up in trouble if the price does not recover or if no change is made to the existing reward system.

Hackers are also having a field day with the decentralized apps (DApps) that are based on the EOS blockchain. Their hacks have resulted in a loss of about $1 million since July.

Charles Hoskinson of Cardano believes that the United States Securities and Exchange Commission (SEC) is likely to train its guns against the $4 billion initial coin offering (ICO) of EOS. So, how does the future look according to the charts? Let’s find out.

EOS/USD

The major trend on the EOS/USD pair is down. The price has been making new year-to-date lows since the breaking down of $4.493.

The bulls had attempted to form a base from mid-August to mid-November, which failed. The pattern target of that break was $2.1561. However, the bears easily broke through this level and plunged the digital currency to a low of $1.55. Even at these levels, there is no urgency among the buyers to step in and provide support.

This suggests that the decline can extend to the next support at $1.2 and below it to $1, which is a major psychological support. The RSI is close to the oversold territory, which shows that the selling has been overdone.

A pullback to the breakdown level is likely, which in this case is the $3.8723–$4.493 zone. However, traders should initiate long positions only after the virtual currency signals a trend reversal. Until then, it is best to remain on the sidelines.

BNB/USD

Binance, one of the top crypto exchanges in the world by trade volume, has launched educational content to provide “unbiased” information about crypto and blockchain to the public. The development of the content is being undertaken by Binance Academy, which is the dedicated education arm of the exchange.

Another arm, Binance Labs, has released its first batch of blockchain projects from its incubation program, which provided the projects with funding and other necessary resources. The exchange has added six new pairs, with Circle’s USD-pegged stablecoin USD Coin recently being included in its Combined Stablecoin Market.

BNB/USD

The Binance Coin (BNB/USD) pair is relatively strong, as it has not given up much ground since the breaking down of the year-to-date low of $5.4666, formed on Feb. 6. It is currently falling inside a descending channel.

If the bears break below the immediate support of $4.1723848, the decline can reach the support line of the channel at $2.5.

Though the trend is down and it is advantage bears, the RSI is in the oversold territory, hence, we can expect the bulls to attempt to climb back above the overhead resistance at $5.4666. If successful, the current dip can be termed as a bear trap and the pullback can extend to the resistance line of the channel, just above $7.5. Traders should attempt a trade only after a reliable buy setup is formed.

TRX/USD

TRON (TRX) launched its TRC20 exchange this week. With the exchange going live, it is expected that the liquidity of the TRON network will increase. The 24-hour transaction amount for DApps increased 48 percent compared to the previous week. Similarly, the 24-hour trading volume increased 151 percent over the last week. With these developments, how does the chart pattern look? Is a bottom in sight?

TRX/USD

The bulls have been attempting to put a bottom in place for the past few months. The TRX/USD pair consolidated between $0.0183 and $0.0281551 for about three months, before breaking down on Nov. 19. An attempt to climb back into the range failed and the bears are attempting to extend the downtrend. The breakdown gives it a pattern target of $0.00844479. If the decline doesn’t stall at this level, then the next support is at $0.00554133.

However, if the bulls defend $0.01089965 and push the price back above $0.0183, the digital currency will indicate a probable trend change. Until then, every pullback will be met with a wave of selling, hence, it is better to wait and watch.

LTC/USD

The Litecoin (LTC) Lightning Network is ready for launch on one of the largest payment gateways, CoinGate. The creator of Litecoin, Charlie Lee, cheered the news in a recent tweet, “Even Litecoin will soon have more than 1000 merchants accepting LN payments!  Thanks @CoinGatecom!”

Lee had sold all of his Litecoin in December 2017, citing a conflict of interest. He had then indirectly indicated that the price of Litecoin could plunge to $20. With the price declining close to his prediction, will it find a bottom at these levels or will it continue to slump? Let’s find out.

LTC/USD

The LTC/USD pair has been in a strong downtrend since peaking out at $370 in December of last year. Though there was an attempt to form a base at $47.246, the bears broke down on Nov. 13 and resumed the downtrend. There was another attempt to defend the support at $29.349, but it did not hold even for a week.

Currently, the downtrend has resumed and the next support on the downside is the $19–$21 zone. If this also fails to hold, the fall can extend to $15. The RSI has reached oversold levels, last seen in the beginning of 2015.

If the digital currency rebounds from current levels and climbs above $29.349, it will indicate that the markets have rejected lower levels. In such a case, a pullback to $47.246 is probable. However, as the bears have an upper hand, the traders should wait for the trend to reverse before attempting a long position in it.

BTC/USD

Some believe that after the crushing bear market Bitcoin (BTC) will meet its end. However, Jeremy Allaire, co-founder of Circle, believes that Bitcoin will be worth “a great deal more” than it is now in the next three years.

Co-founder of Fundstrat Global Advisors, Thomas Lee, believes that the fair value of Bitcoin is between $13,800 and $14,800, a good 315 percent higher than the current levels. During bear markets, prices can drop to crazy levels, which turns out to be a good buying opportunity for the brave hearted who can go against the trend.

BTC/USD

The trend in the BTC/USD pair is clearly down. Since breaking down of the critical $5,900 support, the bulls haven’t been able to defend any intermediate support levels, which shows that the bears are in command.

The selling has pushed the RSI into the oversold territory, a level last seen in the beginning of 2015. The immediate support is at $2,974, from where we anticipate a strong bounce.

Conversely, if the virtual currency fails to recover, the downtrend can extend to $1,752. With every fall, the pair gets closer to the bottom, but it is difficult to predict where the decline will end.

As the slide has been sharp, the next pullback is likely to be equally sharp. Therefore, traders can expect a retest of the breakdown level of $5,900 once the trend reverses. Until then, the short traders will pounce on every small pullback.

Donald Trump Hires Prominent Bitcoin Supporter Mick Mulvaney to White House Staff

U.S. President Donald Trump has hired the prominent Bitcoin supporter Mick Mulvaney to be his new White House Chief of Staff. Donald Trump is one of the most polarizing people on Planet Earth and whether you love him or hate him, it is beneficial for the crypto industry to have a major Bitcoin advocate whispering

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NEM (XEM): what is its value proposition?

Back in July 2017, just before the historic cryptocurrency market bull run, NEM (XEM) had climbed to the number 7 spot in terms of market capitalization.

Although digital currency prices are now well below their all-time highs, with NEM (XEM) now only the 15th largest crypto by market cap, the fundamentals on which the blockchain-based platform was built have not changed. Moreover, there’s a lot more development work that has been done by NEM’s development team.

In this article, we shall learn the basic concepts behind NEM (XEM), in order to gain a better understanding of its value proposition. In future articles on this topic, we shall cover the most recent developments related to NEM including its business partnerships.

What Is NEM & XEM?

Launched in March 2015, the NEM platform has been implemented on a centralized blockchain, which is often compared to Dash (DASH). One of the main things that make NEM unique, at least compared to the energy intensive proof-of-work (PoW) platforms, is that the platform operates without miners.

Transaction validators on the NEM network are referred to as “harvesters” and XEM coins were initially distributed among the people who helped launch the platform. These few people then gradually began distributing the XEM coins among the network’s growing community. Users of the platform may only earn XEM by processing transactions or buying the cryptocurrency from others who own it.

Very Low Transaction Fees, Far Less Energy Consumption

Compared to most major cryptocurrencies, transaction fees on the NEM platform are quite low. Block producers, or TX validators, on the NEM blockchain are called Super Nodes, and they earn a small amount in transaction fees for settling payments.

On average, it requires about 100x less energy to process a XEM transaction, compared to a bitcoin (BTC) transaction. That’s because, on the Bitcoin network, the coins have to be mined which is a process that consumes a large amount of electricity. Moreover, as the Bitcoin network’s mining difficulty increases, it will require even more powerful hardware and software to mine.

Although proof-of-work (PoW) based blockchain networks are highly secure, particularly Bitcoin, they might not be as efficient in processing on-chain transactions like NEM. While this may also be due to the fact that the Bitcoin network has considerably more participants, the NEM platform might be useful in some cases.

For instance, a $1,000 transaction in XEM can be processed for about 10 cents ($0.10) in fees. Because this is negligible, it might make sense to use the NEM network, however there are other cryptocurrencies such as XRP which have very low transaction processing fees as well.

Deflationary Asset, Built-In Messaging System

Similar to Bitcoin’s monetary policy, XEM is a deflationary asset as its maximum supply has been fixed at 8,999,999,999 coins. Theoretically, if the demand for XEM coins increases, then the price should also increase. Moreover, when there will only be a finite number of coins, there are usually better chances that the cryptocurrency’s price will become stable in the long-term. However, this has not yet happened with XEM or other digital currencies such as BTC.

Notably, the NEM platform has a built-in messaging capability. To send messages, there is a small charge which is calculated based on the number of characters in the message.

As mentioned, transactions are processed very quickly on the NEM platform. XEM coins can be transferred between wallets in about 6-10 seconds, while confirmation can take around 20 seconds. While some may argue that this “solves” the scalability problem, they might be failing to understand that non-PoW networks compromise on security and such platforms are usually centralized.

Not For Those Who Prefer Private Transactions

However, XEM is quite popular in Japan and other Asian countries and the NEM network has been able to process up to 4,000 transactions per second (TPS). Those who prefer to keep their transactions private may not want to use XEM as its 100% traceable (all transactions can be viewed on the block explorer).

At times, NEM advocates have compared it to Visa or PayPal as the cryptocurrency’s developers have focused on similar design features as more traditional payment processors. These include ease-of-use, scalability, and speed. When comparing transaction fees with Visa, XEM TX fees are negligible (0.01%) whereas a Visa TX costs about 2-2.5%. Meanwhile, PayPal TX fees are at about 1.9% and Venmo is relatively lower at 1%.

Proof Of Importance

To facilitate decision-making, the NEM network uses the proof-of-importance (PoI) consensus mechanism which is very similar to proof-of-stake (PoS). Users who are large stakeholders in XEM are eligible to become a Super Node. After being appointed a Super Node, a user or a group of users can take part in the voting process on the NEM network.

The more XEM coins users earn on NEM, the more votes they are able to use. According to the platform’s founders, the network has be designed in a manner that is in the best interests of the cryptocurrency it supports. The main idea behind this is that those who own a large stake in the NEM platform will naturally want to make decisions that are going to help the cryptocurrency network.

In order to become a harvester on NEM, users need to have at least 10,000 XEM (appr. $600). To become a Super Node, a validator must hold a minimum of 3 million XEM (appr. $180,000). Technically speaking, when users becomes a harvester or Super Node, they are like a bank.

But they’re a much cheaper bank because instead of charging around 3% on average for transactions like most traditional financial institutions, Super Nodes and harvesters only charge roughly 0.01%. Assuming that the number of transactions, or throughput of the network remains high, validators on the NEM network could make good profits.

NEM For Business, Recent Developments

In the next few posts on NEM, readers can expect to learn more about the most recent developments related to the blockchain platform. We shall also be covering important business partnerships and initiatives involving the NEM platform.

The post NEM (XEM): what is its value proposition? appeared first on Crypto Insider.

Brazilian Football Club Atletico Mineiro Launch Crypto Token for Fans

The latest football team to embrace cryptocurrency is the Brazilian football club Atletico Mineiro, who are amidst launching a crypto token for fans called ‘Galo Coins’. The relationship between the crypto industry and football is at an all-time-high as sports and crypto are a match made in heaven. As crypto looks to gain wider traction

The post Brazilian Football Club Atletico Mineiro Launch Crypto Token for Fans appeared first on CCN

FAANG Stocks Lose Over $1 Trillion – More Than All Cryptocurrencies Combined

FAANG stocks crash

Facebook, Amazon, Apple, Netflix, and Google stocks have together shed over $1 trillion in market capitalization from their all-time highs, marking an even bigger loss in dollar value than all cryptocurrencies combined in 2018.


FAANGs Lose Bite

Bitcoin and cryptocurrencies, in particular, are not the only bubble in town.

Stocks of tech stalwarts like Google, Amazon, and Facebook, collectively knowns as FAANG, have lost over $1 trillion USD in market capitalization from their all-time highs.

Comparatively, despite a nightmare year for cryptocurrencies, the total cryptocurrency market cap is down roughly $700 billion from its $830 billion historic high in January 2017.

total market cap

Among the FAANGS, Netflix (NFLX) was the worst performer, down -34.8% for the year (as of December 13th), followed closely by Facebook at -33.7%, according to data from Investopedia.

Apple Inc. (AAPL) didn’t fare much better amid disappointing iPhone sales, down -26.8% stock from its record price – and almost -14% in the past month alone.

Amazon.com Inc. (AMZN) is also dropped by a considerable -19.1% with Google-parent company Alphabet Inc. (GOOGL), right behind with a -16.9% drop.
 
The runup to record high valuations for FAANG shares was an impressive bull period, which appears to now have peaked in July 2018. Interestingly, this month was also the last time Bitcoin (BTC) saw prices above $8,000.

But while the ‘Bitcoin is dead’ narrative appears to be greatly exaggerated, according to a recent study from the University of Cambridge, the cryptocurrency ‘bubble’ is admittedly still relatively more severe than FAANGs’ with an 85% drop.

Everything’s Bubbling

The S&P 500 and the Nasdaq 100, for example, have fallen by a lower -9.9% and -12.1%, respectively, from their own highs compared to the FAANGs. In fact, the recent stock rout has been led by the once-red-hot FAANG as tech-oriented ETFs saw “massive outflows” in November, reports Bloomberg.

“The conditions that have allowed these kinds of high-growth stocks to outperform have changed, if not reversed,” says David Lafferty, chief market strategist at Natixis Advisors. “I just don’t see much upside.”

Similar conditions may have also allowed for this exuberance to spillover to the nascent cryptocurrency industry earlier this year. Both Wall Street and retail investors began buying into the high-risk, high-reward casino world of crypto and novel ICOs pushing the price to record highs by the end of 2017.

At the time, newly launched Bitcoin futures marked Bitcoin’s entry into mainstream finance, boosting Bitcoin price to new heights. Today, BTC price 00 is down roughly 85% from its all-time high of almost $20,000.

Bitcoin Adoption ‘Driven By Bank Failures’

Unfortunately for both stocks and cryptocurrency, Lafferty doesn’t see much hope for the near term as the central bank policy has shaken many investors.
“The Fed’s tightening is getting to where it’s starting to hurt,” he says. “GDP should decelerate in 2019, which will lead to a natural decline in earnings growth. What that means for multiples and investor sentiment is up in the air.”
paris protests buy bitcoin

Elsewhere, protests across France and slower economic growth globally as a whole could be a sign of a looming financial crisis, which in 2008 birthed Bitcoin as a decentralized and apolitical alternative to the existing financial system.

In other words, don’t be surprised to see a divergence between Bitcoin and stock market performance in the future.

Former Wall Street investor and market analyst, Max Keiser, recently told Bitcoinist that Bitcoin was, in fact, designed to thrive in times of economic turmoil. He explained:

Bitcoin adoption has always been driven by bank failures, bailouts, bail-ins, and political unrest. The problem Bitcoin has had recently is its competitor, the US Dollar, has been rising.

Ten years after its birth, it will be interesting to see if Bitcoin – which isn’t a stock or a company share but a digital protocol for transferring value – can eventually decouple from traditional markets and provide a haven during the next bust cycle.

Fundstrat Global Advisors Head of Research, Tom Lee, meanwhile recently called BTC undervalued, given its fundamentals are strong as ever.

“Bitcoin’s fair value, given the number of active wallet addresses, usage per account and factors influencing supply, is between $13,800 and $14,800,” said Lee.

In the macroeconomic climate, Lee holds that treasury sales of initial coin offerings (ICOs) are the reasons for the lower price.

Therefore, the market correction could actually prove to be healthy for Bitcoin, the most secure blockchain in the world, as unprofitable businesses and low-quality projects go belly up, leaving only the cream of the crop for the next bull-run.

Can Bitcoin thrive in the next financial crisis? Will it outperform FAANG stocks in the near future? Share your thoughts below!


Images courtesy of Shutterstock, coinmarketcap.com, thetechnicals.com 

The post FAANG Stocks Lose Over $1 Trillion – More Than All Cryptocurrencies Combined appeared first on Bitcoinist.com.

Crypto Hedge Fund: No One Took us up on $1 Million Stock Market Bet

Morgan Creek founder Anthony Pompliano has claimed that his company’s $1 million bet on stocks outperforming crypto over the next ten years has had no takers since it was put up more than a week ago. On December 9, CCN reported that Morgan Creek instituted a $1 million “Buffet 2.0” wager inviting investors and money

The post Crypto Hedge Fund: No One Took us up on $1 Million Stock Market Bet appeared first on CCN

US Federal Government: Confusing Regulation For Crypto, Full Clearance For Blockchain

With more influential voices in academia and politics speaking out against burdensome federal regulations, is change imminent?

Individual US states seem to be in competition for the title of the most crypto-friendly in the Union – Ohio’s recent announcement of imminent crypto tax payments being the latest example. Meanwhile, federal authorities remain in disarray with regard to how to define, let alone consistently regulate digital assets.

It is not just stakeholders and crypto buffs who bemoan the disorderly state of federal policies: their usual talking points have been recently validated by academics. In an article forthcoming in a Journal of Financial Transformation, University of Arkansas Law School professor Carol Goforth weighed in with an opinion that essentially summarizes what experts have been airing all along. Goforth notes that there are at least four distinct federal regulators that oversee various aspects of digital assets’ issuance and, each with a different interpretation of their nature.

While the Commodity Futures Trading Commission (CFTC) treats crypto as commodities, the Securities and Exchange Commission (SEC) insists they are securities, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) applies currency rules, and the Internal Revenue Service treats digital money as property.

Skeptical of the possibility that these regulatory powers get consolidated anytime soon, Prof. Goforth calls for increased coordination between the agencies in an effort to introduce a more nuanced, rather than ‘monolithic,’ approach to various crypto assets. In other words, her proposed remedy is to treat such assets on a case-by-case basis, contingent upon their functionality and their users’ motivations. But have there been any signs of such change of heart in the US regulators and policymakers as of late?

At least in one instance, yes. On December 11, CFTC issued a public request for input, seeking in-depth comments on multiple aspects of how Ether and the Ethereum Network operate. The document, which will generate feedback to fuel the work of the Commission’s LabCFTC initiative, includes a list of 25 items pertinent to Ethereum’s purpose, functionality, scalability, security, and even the details of the system’s imminent shift to proof-of-stake consensus mechanism.

While the news got the community agitated, it’s not immediately clear what will come out of the regulator’s renewed interest in Ethereum’s fundamentals. Some observers, like MIT Technology Review’s Mike Orcutt, suggested that the development might endanger the prospects of the long-anticipated ETH futures.

What appears to be the CFTC’s effort to rethink the status of a single asset might not be indicative of broader concerted push towards “a more nuanced approach.” Other US regulators haven’t made similar moves, while some produced signals are indicating that they are still very much in line with the good old catch-all approach. For instance, consonant with their usual trope, recent remarks by a Department of the Treasury official stressed the need for crypto industry players to strengthen anti-money laundering (AML) and Combating the Financing of Terrorism (CFT) infrastructure.

US Congress

There is always hope that legislators on the Capitol Hill will lead the charge towards a better regulatory framework. Indeed, in the last few weeks, the blockchain-minded members of Congress have been on the move, making waves in the media and announcing proposed bills.

On Dec. 6, US Representatives Darren Soto and Ted Budd introduced two bills aimed at preventing crypto price manipulation and optimizing regulatory framework: The Virtual Currency Consumer Protection Act of 2018 and the U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018, respectively.

Both include recommendations to the CFTC that prescribe a set of regulatory changes. The first bill outlines possible scenarios of price manipulation in the crypto markets and advances remedies, whereas the second one calls for a comparative study of regulatory arrangements in other national contexts, with the view to improve the current domestic ‘burdensome regulations that may inhibit innovation.’

The last few weeks have also seen the rise of a new star of crypto legislation, at least in terms of generated publicity. Even though not a formal member of the Congressional Blockchain Caucus, Representative Warren Davidson of Ohio came into the spotlight at least twice in the month of December so far. First, speaking at the Blockland Solutions conference in Cleveland, Davidson announced that he was planning to introduce a bipartisan bill that would create a new asset class for tokens, thus enabling the feds to regulate initial coin offerings (ICOs) more efficiently.

A week later, during an interview to NPR, Davidson said that the border wall between the US and Mexico could be crowdfunded, suggesting that one of the mechanisms for that could be blockchain and issuance of ‘wall coins.’

The executive

While financial regulators and lawmakers are taking time to figure out ways to better handle the realm of digital assets, many federal agencies that are not concerned with monetary matters are exploring the uses of blockchain technology to aid their day-to-day operations.

With increasing interest to supply chain logistics as one of the most widely discussed non-financial blockchain applications, the news emerged that the feds are eyeing DLT-powered provenance tracing tools to increase food safety.

Amid the outbreak of E. coli associated with romaine lettuce originating from a California farm that took a while to trace and had the authorities introduce a blanket warning, the US Food and Drug Administration (FDA) took steps towards improving its tracking tools. The agency hired Frank Yiannas, formerly Walmart’s food safety boss, as its foods and veterinary medicine deputy commissioner. Just a few months ago Yiannas oversaw first trials of Walmart’s blockchain-powered tracking system, and he is now expected to introduce a similar solution with the FDA.

The United States Department of Homeland Security (DHS) took an interest in two blockchain applications relevant to the scope of its activities. One is related to forensic analysis of transactions: apparently concerned about the potential of ‘privacy coins’ like Monero and Zcash to help criminals escape the same level of scrutiny that is already available for bitcoin transactions, the DHS kicked off pre-solicitation process for parties potentially interested in supplying solutions capable of dealing with such “newer blockchain implementations.”

Another matter of the agency’s interest is germane to the licensing and certification functions performed by its three subsidiaries: the US Customs and Border Protection (CBP), US Citizenship and Immigration Services (USCIS), and Transportation Security Administration (TSA). In an effort to improve the documentation flow, the DHS calls for startups to offer blockchain-powered solutions that will help combat fraud, counterfeiting, and forgery of digital documents.

In the defense field, the US Air Force Institute of Technology (AFIT) unveiled an app designed to train members of the armed forces to develop and run blockchain-based supply-chain solutions. Recognizing that such supply chains will most likely be prevalent in the future military logistics, the Air Force partnered with several private contractors to build a system preparing personnel for their new functionality. Among the decisions that they will learn to make is what incentive structure best suits a given task, or whether a system should be permissionless or permissioned.

Meanwhile, the research arm of the US military, the Defense Advanced Research Projects Agency (DARPA), is looking to explore potential uses of permissionless distributed ledgers. In preparation for a workshop scheduled for February 2019, the agency solicits information on a range of blockchain-related topics, including security and centrality of distributed consensus protocols.

Dogecoin Returns to the Crypto Market Cap top 20

NulLTX Dogecoin Price Stability

It has been a rather interesting Sunday for most cryptocurrencies and digital assets so far. Although there is still a fair amount of bearish momentum to contend with at this time, there are some positive trends to be noted as well. In the case of Dogecoin, for example, there has been a solid uptrend as the altcoin enters the market cap top 20 once again.

Dogecoin Price Momentum is Brewing

When looking at most of the cryptocurrencies, there is no real sustainable momentum in place right now. All top markets have shown some positive momentum at first, although the hourly charts are looking pretty bleak right now. One notable exception in this regard is Dogecoin, as the meme currency of the internet continues to do its own thing first and foremost.

Over the past 24 hours, there has been a notable increase in the Dogecoin value. This is primarily because of a 2.4$ increase in the US Dollar value, which elevates the price per DOGE to $0.0021 again. There is also a minor increase in the DOGE/BTC ratio right now, although that 0.3% difference might not get too many people excited at this time.

There are plenty of people who make good money when it comes to Dogecoin. Bobcat Crypto, one of the many Twitter accounts seemingly specializing in trading signals, has made a healthy profit by trading DOGE on the Poloniex trading platform. That is a pretty interesting development, albeit it has been a good week for this altcoin in the DOGE/BTC department.

One interesting thread has surfaced on Reddit. It is not uncommon for people to lose access to specific cryptocurrency wallets over time. In fact, this happens a lot more often than most people would be comfortable with. One Dogecoin user relocated a wallet with a 350 DOGE balance. It doesn’t amount to much money, but the moral victory of finding such a wallet after deeming it lost forever is quite enjoyable.

When it comes to envisioning the future for Bitcoin and other cryptocurrencies, it will be interesting to see what the future will hold exactly. Laird Pennies di Stabile is confident holding is still the right approach first and foremost. As such, one has to wonder how things will move ahead in 2019, as things are not looking all that great right now.

All things considered, it seems the current Dogecoin price trend remains rather solid. Now that the meme currency is back in the cryptocurrency market cap top 20, a lot of interesting things could happen accordingly. Even so, no one knows for sure if this trend will remain in place for more than a few hours, After all, the bearish pressure has not officially relented, but things are bound to head in the opposite direction sooner or later.


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.

The post Dogecoin Returns to the Crypto Market Cap top 20 appeared first on NullTX.

Despite 2018 Bear Market, Top Crypto Markets Have Outperformed FANG Stocks Since 2017

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

Despite the 2018 cryptocurrency bear trend renewing gleeful predictions of bitcoin’s demise from mainstream financial analysts, the leading crypto markets have dramatically outperformed the ‘FANG’ (Facebook, Apple, Netflix, and Google) stocks since the start of 2017.

Also Read: Linkedin Names ‘Blockchain Developer’ Top Emerging US Job of 2018

FANG Stocks Up Between 25% and 115% Since Start of 2017

As with the cryptocurrency markets, the FANG stocks broke into new record highs during early 2017, leading to a multi-month bull trend driven by accelerated momentum. However, in spite of currently posting year-to-date losses between 75% and 90%, the leading cryptocurrency markets have significantly outperformed the FANG stocks since the start of 2017.

APPLE

At the start of 2017, AAPL (Apple) was trading for approximately $115. After rallying throughout 2017, APPL continued to set record highs during 2018 before going parabolic in the third quarter following a breakout above $1 trillion in market cap.

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

Since establishing an all-time high above $230 at the start of October, APPL has aggressively retraced roughly 30% back to currently trade for approximately $165, resulting in the stock having gained approximately 43% since January 2017.

FACEBOOK

Of the FANG stocks, FB (Facebook) has seen the greatest price volatility in price over the past two years. Trading for approximately $115 at the start of January 2017, FB saw 12 months of predominantly bullish action before producing a roughly 23% retracement from a then-record high of $195 down to $150 during the first quarter of 2018.

 

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

The second and third quarters of 2018 saw FB rally to post a record high of nearly $220, before suffering a violent 40% crash to establish local support at $125. As of this writing, FB is trading for $144, equating to a gain of 25% since the start of 2017.

NETFLIX

NFLX (Netflix) has been the strongest performing of the FANG stocks since January 2017. NFLX began 2017 trading at nearly $125 before producing 18 months of sustained bullish action.

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

Since producing a double-top at approximately $420 during June and July, NFLX has recently retraced by roughly 40%. As of this writing, NFLX is consolidating at the $265 support area, resulting in a price gain of 115% in nearly 24 months.

GOOGLE

GOOG (Google) has been the least volatile of the FANG stocks in the last 24 months, beginning 2017 at roughly $772. GOOG then produced 19 months of mostly bullish price action, before double-topping at roughly $1,255 during July and August.

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

GOOG has suffered the smallest losses of the FANG stocks since posting its current all-time high, having retraced nearly 20% to test support at $1,000. GOOG is currently trading for $1,042, equating to a price gain of 35% since January 2017.

Top Crypto Markets Gain Between 200% and 4,000% in 24 Months

At the start of 2017, the top five cryptocurrencies by market cap were BTC, ETH, XRP, LTC, and XMR.

Despite losing nearly 77% since the start of the year, BTC has gained nearly 250% since January 2017, gaining from nearly $965 to currently trade for $3,344.

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

In spite of posting a YTD loss of 88.5% as of this writing, ETH has gained over 1,000% in nearly 24 months, rising from $8 to $88.5.

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

Of the top crypto markets from the start of 2017, XRP has since produced the largest gains, with prices increasing nearly 4,350% from roughly $0.0065 to 0.29 today, despite posting a YTD loss of 87%.

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

Although LTC has yielded a YTD loss of 90%, the now seventh-ranked cryptocurrency by market cap has still produced price gains of more than 500% since the start of 2017, gaining from $4.33 to $26.5 today.

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

While XMR has slipped to rank 12th by market capitalization and produced a YTD loss of 88.5%, Monero has gained nearly 200% since January 2017, with prices rising from $13.8 to $40.4.

Despite 2018 Bear Market, Top Crypto Markets Outperform FANG Stocks Since 2017

Do you HODL or day-trade? Share your favorite trading strategies in the comments section below!


Images courtesy of Shutterstock, Tradingview


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Blockchain Could ‘Jeopardize the Safety’ of Current Financial Marketplace, DTCC Exec

Fintech is believed to be a risk for financial stability, the Depository Trust and Clearing Corporation Systemic Risk Barometer Survey states.

Fintech is believed to be a “systemic risk” to the broader economy, according to a survey conducted by the United States Depository Trust and Clearing Corporation (DTCC), Dec. 11.

20 percent of respondents to the so-called “DTCC Systemic Risk Barometer,” identified fintech among the system risks for the global economy in 2019. The results are up from 15 percent in last year’s survey.

Stephen Scharf, DTCC’s Managing Director and Chief Security Officer, declared that the increased concern over fintech “demonstrates a growing awareness of the potential risk and highlights the need to evaluate both risks and rewards associated with fintech initiatives.” He then explained:

“As the industry continues to adopt fintech innovations, like blockchain, AI and cloud solutions, we must ensure that those innovations do not jeopardize the safety and security of the current global financial marketplace.”

Figures in traditional finance have often proven wary of cryptocurrency and the technology behind it, blockchain. As Cointelegraph reported mid-November, an Executive of the European Central Bank (ECB) defined Bitcoin the “evil spawn of the [2008] financial crisis.”

This month Andreas Utermann, the CEO of major investment management firm Allianz, declared that crypto assets should be “outlawed” during a panel in London. On the same panel, Andrew Bailey, the head of United Kingdom’s Financial Conduct Authority (FCA) argued that crypto assets lack “intrinsic value.”