Bitcoin Thieves No Longer Just an Online Threat, How to Stay Safe

Cryptocurrencies, as the product of the digital realm, have always existed in the ether – no pun intended – meaning that physically there was nothing to hold, or to lose/have stolen. The threat for Bitcoin users when it came to getting fleeced of their digital currencies always existed online, leaving savvy investors safe offline.

Now however, thieves are cottoning on to the fact that there is a way to reach coins offline and have taken their plundering to the streets. A number of cases have been reported where Bitcoin owners are being attacked face-to-face by thieves and being forced to deposit huge amounts of digital currency into anonymous wallets.

It seems that even the usual safety measures taken online are no longer good enough, but there are some steps people can take to make sure they do not become a victim of face-to-face Bitcoin burglary.

Held hostage

One recent incident of an in-person Bitcoin burglary happened on the tranquil holiday resort of Phuket, Thailand in January this year. A Russian businessman was held hostage until he logged onto his computer and transferred around $100,000 of Bitcoin to his attackers.

This form of robbery is getting more and more common, but it is often sparked by people being foolish around revealing their Bitcoin balance, just as the case is when it comes to online security.

Boastful bruising

A Russian cryptocurrency investor and blogger known online as Pavel Nyashin was attacked and robbed in his home in Leningrad Oblast in January 2018. The assailants made off with 24 mln rubles ($425,000).

Nyashin was tied and beaten while a group of masked assailants stole his property, but it was not digital cash the robbers made off with. Rather, they took his safe which contained fiat currency, and some “essential documents”.

Nyashin became a millionaire thanks to his dalliances with cryptocurrency and made that news public as he boasted about his wealth online and at meetings he attended with well-known bloggers.

This kind of boasting obviously drew attention, and despite all the measures he took to secure his online assets, he still ended up a victim of robbery offline.

Problem with being high up

Sometimes however, there is no way to hide ones dealing with cryptocurrencies, and it does not come down to simply boasting about ones wealth. A high profile case involving the director of a UK-based cryptocurrency exchange proves that thieves could be lurking around every corner.

Pavel Lerner, managing director of the cryptocurrency exchange EXMO, was abducted in Kiev, Ukraine at the end of last year while leaving his office in the center of town and driven off in a black Mercedes-Benz.

Within two days after the disappearance of Lerner, it was revealed that Lerner had paid more than $1 mln to an armed gang in ransom for his freedom.

It gets ugly

What is arguably worse about these kinds of heists is that it is far more personal, and far more of an attack. Being hacked and having your Bitcoin account drain is horrific, but in a thief-in-the-night scenario these face-to-face attacks could come with physical torment.

In Moscow, towards the end of February, a crypto investor was reportedly attacked and mutilated before getting fleeced of $1 mln worth of Bitcoin.

Muggers stopped the man and demanded he transfer his holdings. When he refused, they “mutilated his face with a knife” before he surrendered his collection of around 100 BTC.

Growing trend

All of these attacks have come to the fore in recent times as the trend of robbers to take on people in the flesh continues to grow. Bitcoin millionaires are usually self made and not in the same boat as those who have accumulated wealth in traditional means.

Bitcoin millionaires still walk around like ordinary people, and this becomes a really easy target for those who know what they have hiden online. Online attacks are increasingly becoming more difficult as people smarten up, but some precaution needs to be taken offline too.

How to be street savvy

There are some basic things one can do to keep safe, be it online or offline. Many know the tricks of the trade when it comes to securing ones assets, but cryptocurrencies may seem so secure that people risk to lose usual vigilance.

The first thing to be recommended is technical – to set up a multisignature wallet. Wallets that require confirmation from multiple addresses to make a transaction permit allow the controlling keys to be spread out to different deposit boxes, banks, safes, and other locations. Therefore, even if one key is compromised, you still have control over your funds.

Still the most basic way to keep safe with your crypto is not to be too boastful. This is because in doing so, it is simple to make yourself an obvious target. One should refrain from publicly disclosing any information about the amount of money owned or what the controlling addresses are.

Cryptocurrency investors should develop cautiousness, as Max Niebylski, CEO of Gladius, a Blockchain-driven cyber protection network, summarised to Cointelegraph:

“Just because this info is public on the Blockchain doesn’t mean you need to go bragging about how much crypto you have or giving out the addresses to your private crypto savings.”

“Keeping your crypto is something everyone should be familiar with. When it comes to looking after thousands of dollars – if not multiples of that – you should treat it with the same caution as other highly sensitive information.”

Take care!

Of course, like in the case of Pavel Lerner, sometimes your reputation precedes you and a target will be on your back regardless of how private and quiet you are.

But it is also wise to remember that, when approached face-to-face by criminals, your life and physical safety is more important than some digital money. Don’t be so brave as to lose your life over money – where money is replaceable, your life is not.

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First Bitcoin Mainnet Lightning Network Product Launches As Developers Net $2.5 Mln

Lightning Labs released the first Bitcoin mainnet-ready Lightning Network (LN) implementation today, March 15, in what the company describes as an “important milestone”.

In a blog post, Lightning Labs, whose product Lightning Daemon (lnd) helps developers easily connect to the LN, described it as having “the necessary safety, security, and fault-tolerance features required for real-world, real money usage.”

The release comes as the company announced completion of a seed finance round worth $2.5 mln, participation in which came from some of the cryptocurrency industry’s biggest names.

Square and Twitter founder Jack Dorsey and Litecoin creator Charlie Lee led the list, which also includes Square Capital’s Jacqueline Reses and ex-PayPal COO David Sacks.

Reacting online, social media commentators celebrated the advance, with Lightning edging closer to offering Bitcoin users practically free and instant transactions.

Lnd also debuted with support for investor Lee’s Litecoin.

Despite accruing over 1000 nodes and almost 2000 channels since December 2017, LN is nonetheless not without its critics. Well-known industry figures including Core developer Peter Todd and Bitcoin.org creator Cobra have both voiced fears over rolling out the technology too quickly without thorough testing.

“Note that this release is intended for developers of future Lightning applications (Lapps) along with technical users and prospective routing node operators,” Lightning Labs’ blog post reads, adopting a pragmatic tone.

“In this early phase of Lightning, we’re focused on providing the software infrastructure (such as lnd!) necessary to bootstrap the network and serve as a platform for future applications, services, and businesses.”

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Cryptocurrencies as Portfolio Diversification: Systematic Hedge With Excellent Risk-Reward Profile

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision.

As Bitcoin and cryptocurrencies gain more and more media coverage, investors who have never been involved in crypto are increasingly asking the question of whether cryptocurrencies could provide meaningful portfolio diversification to the traditional portfolio asset allocation.

In order to answer this question one must look both backwards and forwards: backward looking to determine past correlations and risk-reward profile; and forward looking to understand the real risk of central bank policy mistakes and government debasement of fiat currencies.

Diversification of portfolio focuses on how the volatility of an underlying security plus their correlation with core market assets impacts a portfolio’s risk-return characteristics over the long-term or during periods of extreme macroeconomic or market stress.

Diversification drivers

The main reasons why Bitcoin provides portfolio diversification are: investability, politico- economic features, correlation of returns, and risk-reward profile.

Academic research has shown that investors prefer outcomes with known probability distributions compared to outcomes where the probabilities are unknown. Historical analyses of Bitcoin and gold returns vs. equity market returns at times of recent market volatility may provide some indications as to past data, but there is still insufficient information about how to conclude that the leading cryptocurrency could reliably act as a safe haven. With regards to risk-return profile there is no other asset in the world that has matched bitcoins optionality.

Near zero-average correlation over last five years

Bitcoin has demonstrated a near-zero average correlation with other asset classes over the past five years, compared with a small average positive correlation that some other traditional hedges like inflation-linked bonds, commodity indices, gold, the Japanese yen and Swiss franc often exhibit with other capital market assets.

Diversification in portfolios is based on correlations and historically many assets were negatively correlated. One of the negative side effects of trillions of dollars of Quantitative Easing (QE) is that the price discovery mechanism is distorted and that traditional asset class volatility has been suppressed by large amounts of short volatility strategies implemented by investors looking for yield enhancement in low interest rate world.

Bitcoin as a hedge against Central Bank bubble

Central banks, before QE became the norm, were considered to be the “lender of last resort”. In the experiment of unconventional monetary policies however, the central bank has become the “buyer of the first instance”.

U.S. Monetary Base and its increase since the birth of Bitcoin in 2008

U.S. Monetary Base and its increase since the birth of Bitcoin in 2008

The U.S. is about to follow an unprecedented experiment in monetary policy with an unprecedented experiment in fiscal policy – “Trump tax cuts.” This new environment could challenge investors, as traditional asset class relationships might be less stable. Historically, investors could expect stocks and bonds to trade in opposite directions. The February stock market sell-off was triggered by a sell-off in the bond markets and both bonds and stocks fell at the same time.

SPX INDEX / USD

A lot of traditional bankers and analysts have pointed out that Bitcoin might be in a price bubble but this raises the question of whether stocks and bonds in public markets are not in even more of a bubble.

USGG10YR INDEX / USD

The Federal Reserve and the European Central Bank (ECB), coupled with the Bank of England and the Bank of Japan have expanded their central bank balance sheets to unprecedented levels. The argument of equities are cheap because bonds are even more mis-priced is at the root of this distortion.

Bonds are safe and сrypto is “risky” narrative

The idea that low volatility assets like bonds are safe and high volatility assets like Bitcoin are risky is being re-thought by astute investors.  

Paul Tudor Jones, one of the fewer people on Wall Street who correctly predicted the Crash of 1987, recently opined that

“We are in the throes of a burgeoning financial bubble […] If I had a choice between holding a U.S. Treasury bond or a hot burning coal in my hand, I would choose the coal.”

While this might be a rather colorful description to indicate an “underweight” bonds view it shows that to some investors traditional bonds might not be safe after all.

Ex-Fed Chairman Alan Greenspan, who in many investors’ eyes has real practical experience in financial market bubbles recently stated:

“’We are in a bond market bubble’ that’s beginning to unwind”.  

To many traditional investors bonds as an asset class is safe due its low volatility and due to the belief that debt markets are efficient and can always re-finance and roll over debt.

Cryptocurrency markets on the other hand are still considered by many to be unsafe and not appropriate for the average investor due the asset class being less efficient and very volatile.

The focus of many traditional investors is that Bitcoin is very volatile even though US dollar price swings volatility has been predominantly to the upside. The one year return of BTC has risen 811 percent against the world’s reserve currency.

Unless you really understand the structure of the globally distributed censorship resistant immutable crypto market, it’s a little bit of a fool’s errand to focus solely on what the US dollar price of Bitcoin is.

Correlation risk and non-linear market moves

Noted global investor George Soros attributed his stellar investment performance over 50 years to the insight that while many play the game of investing but the rules, he was looking for changes in the rules of the game.

An asset allocation investment decision into cryptocurrency is such a bet that the rules of traditional finance will change.

The most important question as to the rules of investing and global financial architecture was recently posed by ECB President Mario Draghi.

In January Draghi hit out at US Treasury Secretary Steven Mnuchin’s claim that a weak U.S. dollar was good for the American economy, saying the Trump administration needed to uphold the rules of the international monetary system, which forbid nations from deliberately devaluing their currencies.

The extent of European officials’ concerns over the weakness of the U.S. dollar and whether Washington adheres to the rules of the (current) international monetary system are very valid and are related to the question about cryptocurrencies as a portfolio diversification.

If you think the (current) rules of international financial system will always stay the same, then there is no need to have any bitcoin or crypto as part of your strategic asset allocation.

And if you believe that global debt levels could become unsustainable and the U.S. dollar and other fiat currencies could face debasement then you cannot afford not to have crypto as part of strategic asset allocation.

Earlier in 2017, the managing director of the International Monetary Fund (IMF), Christine Lagarde made the same point when she said that crypto assets should not be dismissed outright by governmental structures around the world as cryptocurrencies are positioned to provide conventional government-issued fiat currencies a “run for their money”.

“Instead of adopting the currency of another country – such as the U.S. dollar – some of these economies might see a growing use of virtual currencies. Call it dollarization 2.0. So in many ways, virtual currencies might just give existing currencies and monetary policy a run for their money. The best response by central bankers is to continue running effective monetary policy while being open to fresh ideas and new demands, as economies evolve.”

United States: In debt we trust?

The United States is the largest debtor nation in the history of mankind and its currency the U.S. dollar is both the world’s reserve currency as well as the anchor of the current debt based fiat currency reserve banking system.

Bitcoin and other cryptocurrencies on the other hand are an asset based system in the same way that gold is the only major asset where you do not have any counterparty risk. Your physical gold or digital Bitcoin is nobody else’s liability.  

The fact that you cannot QE gold nor Bitcoin makes it the perfect traditional asset diversifier for stocks and bonds denominated in paper money. Bitcoin as the money of the people versus fiat paper as the money of the state.

Hence it is understandable that those who administer the fiat money of the state would like to see increased regulation of the money of the people. Free choice in markets like in democracy is not always a given.  

Gold is inversely correlated to confidence in the financial and political system.

Gold is independent from the nation state government and the banking system and its scarcity created tremendous financial value. The same line of thinking increasingly is underpinning the HODL mentality of Bitcoin as a strategic asset allocation decision.

In a world where too much debt and potentially unsustainable debt, coupled with fears of a U.S. trade war with its largest creditor, China could lead to inflation expectations rising.

In such an environment, a true deflationary asset like cryptocurrencies is the ultimate portfolio hedge.

Gold for over 6,000 years and Bitcoin since at least 2013 is inversely related to confidence in nation state fiat currency based banking systems.

The reason why Bitcoin in many countries around the world trades at premium to the global average is due to the fact that in many developing countries many citizens do not trust neither the government nor their central bank nor do some citizens necessarily believe that local paper currency in a bank where you are exposed to bank counterparty risk is necessarily the best store of value.

Gresham’s law and HODL

Some traditional economists and mainstream bank CEOs have opined that Bitcoin has failed because so far we have not seen meaningful everyday spending done in BTC nor other cryptocurrencies.

Traditional economists who publicly say so might have forgotten about Gresham’s law. In economics, Gresham’s law is a monetary principle stating that “bad money drives out good”. For example, if there are two forms of money in circulation, which are accepted by law or the market as having similar face value, the more valuable money will disappear from circulation. In today’s world the manifestation of Gresham’s law is Bitcoin HODL.

Curiosity in 2009, legitimate investment case in 2018

Money is the ultimate network effect and this could be one reason why some government officials are concerned about the possibility of mass adoption of cryptocurrencies.

The upcoming G20 Meeting of Finance and Central Bank Deputies in Buenos Aires from March 17 to 18 has Bitcoin and cryptocurrency regulation as top agenda item. It is quite telling if not ironic that the finance and central bankers of developed countries – who oversee highly indebted nation state currencies – have a discussion about regulation of the “money without a state” in a country that has countless times failed their own people.  

Argentina as a country is the poster child as to why there is demand if not a real need for a currency that a government cannot control nor manipulate nor debase.

Argentina’s many years of military dictatorship (alternating with weak, short-lived democratic governments) had caused significant economic problems and led to many ordinary citizens losing their life savings several times.  

Wences Casares, the founder of bitcoin wallet XAPO and his family in Argentina were one of these unfortunate people and that gave Mr. Cesares the conviction not only to consider the leading cryptocurrency as a portfolio diversifier but to make Xapo and its secure vault storage a key part of the Bitcoin blockchain ecosystem.  

Bitcoin and cryptocurrencies have evolved from a mere curiosity in 2009 to a legitimate investment case in 2018 and beyond.

They are the summit of decentralization of counterparty risk and an escape from highly indebted nation state fractional reserve banking system. Take that into account, for when the international monetary system needs to be re-anchored and what that could mean for your life savings and strategic asset allocation.

The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com

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Bankers Criticize Crypto, Always Goes Back to the Same Argument: Intrinsic Value

Finance experts in the traditional finance industry often attempt to discredit Blockchain projects and open-source cryptocurrencies like Bitcoin and Ethereum. But, without solid logical arguments, a lot of baseless claims from the finance sector have proven to be ineffective.

Go-to Argument

The go-to argument by economists against the idea of the cryptocurrency market and decentralized Blockchain has been their lack of intrinsic value. Some economists and nobel award-winning researchers have claimed for several years that the lack of intrinsic value in Bitcoin and other cryptocurrencies make them vulnerable to massive price drops and volatility.

Intrinsic value

In December 2017, Bruce Flatt, CEO at asset management company Brookfield, which is based in Canada and oversees around $250 bln in assets, stated:

“It [Bitcoin] has no intrinsic value. I don’t know what it is. But it has no intrinsic value in our definition of intrinsic value. If someone else wants to speculate on it or invest in it, it’s for them. It’s not for us.”

However, every single asset, currency, and commodity in the global market such as gold, the US dollar, and company shares also do not have intrinsic value, and the Flatts claims can be applied to any asset in any major stock market globally.

Tom Lee, a strategist at Wall Street-based hedge fund Fundstrat, stated that no asset in the world has intrinsic value. Gold, the largest store of value and safe haven asset in the global market with a market valuation of $7 trln, also does not have intrinsic value, Lee said, as a large supply of gold can be discovered and potentially impact the international gold market.

“There are potentially millions of times more gold underground than actually has been extracted,” said Lee, adding that no asset in the US stock market has intrinsic value because they are built on digital trust. “If you ask a baby boomer, ‘Can you justify the value of anything that’s a digital business?’ they probably don’t accept that Facebook, Google, Netflix, Amazon, Apple, these are the largest companies in the S&P 500 and they’re primarily digital businesses built almost purely on digital trust.”

Bubble

On Feb. 20, Cointelegraph reported that Elliott Management, a major hedge fund founded by billionaire Paul Singer in 1977, went as far to describe the cryptocurrency market as a bubble, a fraud, and limitless ignorance of the human race.  Elliott Management said:

“But is it not glorious that when the equivalent of nothing attracts priests and parishioners who run up the price, the very willingness of the mob to buy it at higher and higher prices is seen as validation of the thing, rather than an indication of the limitless ignorance of swaths of the human race?”

But, as a hedge fund, Elliott Management failed to acknowledge that the free market operates on the basis of supply and demand. “The mob” of investors in the cryptocurrency market are willing to buy cryptocurrencies at current prices because they see value in them. Both minor and major corrections occur in the cryptocurrency market due to supply and demand, when investors are not willing to meet the price set by the sellers. That is how every modern market operates, and the same model is applied to stock markets as well.

Fear

Cointelegraph also reported that JPMorgan, the largest investment bank in the world with a $400 bln market cap, admitted cryptocurrencies are a risk and a threat against the business model of the bank. The annual report of JPMorgan read:

“Both financial institutions and their non-banking competitors face the risk that payment processing and other services could be disrupted by technologies, such as cryptocurrencies, that require no intermediation.”

Bitcoin and other cryptocurrencies can be considered a threat against the business model of most major banks because the market they target is the offshore banking industry. Open-source and decentralized cryptocurrencies can transfer large sums of money with less fees and efficiently than the infrastructures of large banks.

Good sign

The demonstration of fear and opposition against the cryptocurrency market by large-scale financial institutions and those who fail to understand the technological foundations of cryptocurrencies is an optimistic sign for the long-term growth of the market, as it demonstrates the potential of cryptocurrencies to compete with banks.

On March 14, Europe’s biggest insurer Allianz Global, which oversees more than $620 bln worth of assets, told its clients that Bitcoin is worthless, and that the cryptocurrency has almost zero intrinsic value. The company’s head of global economics and strategy, Stefan Hofrichter said:

“In our view, its intrinsic value must be zero. A Bitcoin is a claim on nobody – in contrast to, for instance, sovereign bonds, equities or paper money – and it does not generate any income stream.”

Hofrichter further noted that the bubble of Bitcoin will inevitably burst, and its demise will not have a major impact on the global economy, adding:

“Bitcoin’s demise would have few spillover effects on the ‘real world,’ since the market for this cryptocurrency is still quite small in size. As a result, we believe that the risks to financial stability stemming from bitcoin are negligible — at least as of today.”

The claims of companies like Allianz Global that argue a $350 bln market with a daily trading volume larger than most stock markets can fall to zero is illogical, given that like the stock market, the cryptocurrency market also depends on supply and demand. If the demand for cryptocurrencies increases, the value of digital assets increase and if the demand falls, the price drops.

Unbacked and baseless condemnation on bitcoin and the cryptocurrency market by experts without fundamental knowledge in the structure, technology, and economic impact of cryptocurrencies would continue to fuel public demand for the cryptocurrency market.

The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com

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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 15/03/18

Bitcoin Cash Tanks

Following a 1.04% gain on Tuesday, things became particularly bleak for cryptocurrency investors on Wednesday, with Bitcoin Cash tanking 10.4% to $942.8 by the day’s end.

Support levels were more than tested as Bitcoin Cash fell through the day’s first major support level of $1,000 in the early afternoon, with the sell-off continuing through to the close, few buyers jumping in at any level, as the market responded to a flurry of negative news reports hitting the crypto wires through the day.

News of Google changing its policy on financial services, announcing a ban on adds for cryptocurrencies, crypto exchanges, wallets, initial coin offerings and anything else related to the crypto market, was the first blow of the day.

The second blow came from the cryptocurrency session in Congress that certainly did no favours for Bitcoin Cash and the rest, a number of members of Congress having some quite damming things to say about the market, which was in stark contrast to expectations that the session would be treated as an educational session.

Bitcoin Cash hit an intraday low $910.7 late in the day, with only the day’s 3rd support level untested by the close, with some early morning optimism that led to Bitcoin Cash hitting an intraday high $1,073.1 evaporating after falling well short of the day’s first major resistance level of $1,110.9.

Things have not gotten any better this morning, with Bitcoin Cash down 7.44% to $873.8 at the time of writing. The early morning’s intraday low $869.31 fell through the day’s first major support level of $877.97 and continues to sit below, as sentiment towards the cryptomarket weakened further following Wednesday’s slide.

While the news was negative through the day, U.S regulatory oversight is unlikely to cripple the market and Google’s ban is just another step in the sequence that may impact coin offerings, but not so much the major cryptocurrencies. Some support will likely kick in and a move back through to $900 levels would certainly change the picture for the rest of the week.

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BCH/USD 15/03/18 Hourly Chart

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Litecoin at $151

Litecoin joined Bitcoin Cash and the rest of the cryptocurrencies in sharp decline on Wednesday, continuing the decline that kicked off last weekend, ending the day down 9.7% to $160.68.

Wednesday’s intraday low $157.5 fell through the day’s first major support level of $170.71, with the day’s 2nd support level of $165.66 providing only a temporary cushion from the market free fall as bad news was followed by bad through the day.

The only comfort for Litecoin investors would have been a recovery to $160 levels by the day’s end and Litecoin managing to avoid testing the day’s 3rd support level of $154.96 that could have led to more significant losses in the day.

Litecoin has felt more pain this morning, falling 5.99% to $151.06 at the time of writing, with the only good news of the morning being support at the morning’s $150 low, as Litecoin fell through the day’s first major support level of $152.82.

Holding at $150 levels will be key for Litecoin through the day, with any pull back to this morning’s low likely to see Litecoin test the day’s 2nd support level of $144.96.

Investors will be considering how much further Litecoin can tumble in the wake of Wednesday’s session in Congress and Google’s change in policy. While, we can expect some support at current levels, it’s going to boil down to the news wires and sentiment towards Congress and U.S regulatory oversight, both of which may have been taken too adversely on Wednesday. $160 would be Litecoin’s first target of the day.

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LTC/USD 15/03/18 Hourly Chart

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Ripple Buckles

Ripple’s XRP slumped 11.6% on Wednesday, seeing the largest decline amongst the trio, as investors ran for cover off the back of the negative news that hit the wires through the 2nd half of the day.

The day’s intraday low $0.65307 slid through all three of the day’s support levels, with an intraday high $0.7997 coming in at the start of the day, following which it was downhill all the way.

If the market was hoping for a rebound this morning, Ripple’s XRP was certainly not the place to look, with Ripple’s XRP down 6.24% to $0.6417 at the time of writing.

With this morning’s intraday low $0.6171 having already tested the day’s first major support level of $0.62528, the only good news will be that support kicked in and sub-$0.60 support levels remained untested in the early hours.

The day ahead will certainly be a trying one for crypto investors, with any further negative news likely to pull Ripple’s XRP down to the day’s 2nd support level of $0.56585.

It’s a brave investor that is willing to jump in at current prices, when considering the negative sentiment, but a momentum driven rebound is not completely off the cards, though it would need Ripple’s XRP make a move towards $0.65 levels before the middle part of the day. We won’t expect the day’s major resistance levels to be tested today however.

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XRP/USD 15/03/18 Hourly Chart

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This article was originally posted on FX Empire

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Circle Co-Founder Says Recently-Acquired Poloniex Exchange Will Expand In Asia

Payments technology company Circle announced it plans to hire up to 100 people in Asia to expand its recently acquired Poloniex cryptocurrency exchange, Bloomberg reports today, March 15.

In an interview in Hong Kong, Circle’s co-founder and CEO Jeremy Allaire stated that the company will be employing people to offer services in South Korea, Japan, China, and Hong Kong.

According to Allaire, the company, which raised $140 mln in venture capital from major investors including Goldman Sachs, Baidu, and investment bank China International Capital Corp., is looking to diversify its offerings on Poloniex in the future.

“The long-term view is that every form of value on the planet will become a crypto token,” Allaire stated, referencing what he sees as the continued proliferation of Blockchain-based tokens and cryptocurrencies.

Allaire also made it clear that Circle is looking to comply with regulators on a local level:

“We want to offer more markets, more assets, we want to localize it, and launch it in more international markets and, critically, we need to work with the most important regulators.”

According to Bloomberg, the US-based company does not plan to raise additional funds this year. However, Allaire stated that the company expects to be profitable “for a second year.

Founded in October 2013, Circle offers several products such as mobile payment application Circle Pay and Circle Trade, which reportedly sees over $2 bln per month in cryptocurrency trades. On March 13, the company announced the launch of its crypto investment platform Circle Invest, which is currently available to US citizens in 46 states.

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Litecoin Price Prediction: LTC Withstands Crypto Crash Better Than Bitcoin & Other Top Cryptos

 ltc price forecast 15 march.jpg
iStock.com/Julien Viry

Daily Litecoin News Update

We can shortlist at least three reasons that caused crypto prices to crash on Wednesday. None, however, had anything to do with Litecoin directly. And looking at Litecoin’s price performance, it’s heartening to see some common sense prevail in the market.

Just to be clear, Litecoin has been the only crypto in the top 10 that has largely held out against the marketwide selling pressure.

Now, in case you didn’t follow, here are the three plausible reasons driving this frenzied sell-off.

Firstly, the U.S. Senate subcommittee hearing on crypto regulations yesterday was a major disappointment for crypto lovers. Cryptos were called a “crock” and were likened to tools of financing terrorism and laundering money. Basically, it was an antithesis of February’s Senate hearing.

Then, just hours prior to the meeting, Google announced that it would be banning all cryptocurrency ads on its search engine by June to curb crypto scams.

Finally, investors are seemingly still overreacting to last week’s revelation that a Japanese crypto whale is dumping bitcoins in the market. A trustee of crypto exchange Mt. Gox, which is now defunct, has been selling his massive Bitcoin holding for the past three months during which prices have plummeted significantly. The dumping was revealed only a week ago and investors fear that the crash will worsen as the whale continues his dumping.

If you break down all of these news snippets, you realize that nothing really affects Litecoin directly in the long run.

The Senate hearing revealed nothing new. It was a repeat telecast of all prior crypto hearings where ill-informed congressmen called out on regulators to banish cryptos, while the level-headed representatives suggested moderate regulations.

We have full conviction that the government has no intention to ban cryptos. We also believe that investors will be welcoming regulations as they’ll help rein in price volatility. So panic over this news is mostly uncalled for.

Moving on, Google’s ban on crypto ads doesn’t affect Litecoin since Litecoin’s growth hinges on word-of-mouth marketing not formally paid-for Google ads. We discussed this in our news update yesterday. So this news, too, doesn’t shake our belief in Litecoin.

Finally, the Mt. Gox whale’s Bitcoin dumping will certainly affect Bitcoin prices. But how does this affect Litecoin again?

Of course, when the leader of the pack falters, the followers lose their morale. But over time, they should pull themselves together and keep marching forward.

Chart courtesy of TradingView.com

It’s pleasing to see that Litecoin investors made sense of what is going on, unlike the rest of the market. Litecoin shed only about 2.4% of its value in the past 24 hours, faring much better than Bitcoin and most other cryptos. Meanwhile, the LTC to BTC rate is, in fact, up about 3.14% in the same time, as Litecoin prices strengthen against Bitcoin.

Analyst Take

Crypto prices move at supersonic speed, mostly driven by hourly news. So it’s best to avoid reading too much into prices on a day-to-day basis.

We are focused on the long-term performance of Litecoin, which we believe has the potential to deliver stupendous gains. As such, we stick to our Litecoin price prediction with a $400.00 price target for 2018.

The post Litecoin Price Prediction: LTC Withstands Crypto Crash Better Than Bitcoin & Other Top Cryptos appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

Why The Next Bull Run Could Really Show Litecoin’s Potential

Comparing Litcoin’s support and status six months ago to what they are now, the difference is stark. There is much more support for it now, with a huge community of followers tracking its success. Indeed, with financial sites now offering daily updates on Litecoin, it is clear that the cryptocurrency is a real contender in the market.

Although the price of Litecoin has been stagnating, this sideways movement is reflective of the overall cryptocurrency market, which has been suffering for a while now. Indeed, it is not reflective necessarily of a lack of support for Litecoin. The most likely way for Litecoin to prove itself will be during the next run up in price, or the so-called “bull run”, a term often used to describe surges in the price of cryptocurrency.

It is not yet clear exactly what will happen during the next bull run, but because of its recent popularity, Litecoin could well be one of the top three market leaders. The currency has always had great technology behind it, but has not yet received the attention it deserves. Now, however, people have been realising its potential, and letting other people know about it over Twitter, Youtube and other popular platforms. This has caused a surge in attention meaning that, during the next bull run, there could be a whole host of new investors ready to make the most out of Litecoin.

Litecoin could be a great choice for many corporations hoping to invest in cryptocurrency, as it is already an established cryptocurrency, has fast transaction speeds and is the best currency for payments. This could be part of the reason it is gaining dominance in the market.

Hopefully there will be a rise in value for Litecoin over the next few weeks. Indeed, there are plenty of reasons to be optimistic about Litecoin: its attention and coverage is far better than other cryptocurrencies, which is likely to propel it much faster than other coins during the next bull run.

Source: https://www.youtube.com/watch?v=2Plzv0ClKvA

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UK Crypto Exchange Will Launch First ‘Physically Delivered’ Bitcoin Futures Next Month

UK-based cryptocurrency exchange Coinfloor will launch the world’s first “physically delivered” Bitcoin futures contracts in April 2018, an executive told Reuters March 14.

Speaking to Reuters during the Futures Industry Association’s annual conference in Florida, Coinfloor’s co-founder Mark Lamb announced that the exchange would shortly unveil a dedicated futures exchange called CoinfloorEX, which would showcase the pioneering product.

The exchange confirmed the news on Twitter Thursday, March 15.

“Physically delivered” Bitcoin futures contracts differ from those currently on offer from US platforms CBOE and CME Group in that they will deliver the underlying asset, BTC, upon the futures’ specified delivery date, whereas according to the current model, investors receive dividends in fiat.

This, Lamb says, eradicates security concerns from some sources about cash-settled contracts, which could become subject to price manipulation. He told Reuters:

“When you talk to the liquidity providers, they all say the same thing, which is they want a physically delivered futures contract so they can hedge their exposure across exchanges.”

Despite criticism from some commentators over investors seeing underwhelming returns from futures contracts so far, in an interview with Cointelegraph this week, CBOE director for product development Dennis O’Callahan said the company was trading almost 7000 of them daily.

“We have seen a lot of interest, especially retail interest, by some retail firms,” O’Callahan said about continued appetite for cash-settled contracts. “We like what we have done, and we are pleased with the progress the product has made.”

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Litecoin To Skyrocket In Value

At a time when all major cryptocurrencies seem to be taking a dip in value, it is refreshing to hear a success story. Litecoin is set to skyrocket in value this year, after suggestions that it could be added to the hugely popular Gemini crypto exchange.

Litecoin is currently valued at approximately $179.61, but this could change dramatically if they are to be added onto the exchange. Gemini exchange is owned and run by the Winklevoss brothers, and they have said that this year is going to look very different thanks to a great Wall Street involvement. He said;

“In 2018, you’re really going to see institutions and Wall Street really get in, and it’s going to look very different.”

Despite the good prospect for the year ahead for Litecoin, it has suffered a slump over the past 7 days, and has declined in value by 11.6 percent. Mr Lee, the founder of the altcoin has desperately tried to calm investors and assure them that the cryptocurrency can be trusted, saying;

“Sorry to spoil the party, but I need to reign in the excitement a bit…The market needs time to consolidate. That’s just my experience from seven years of watching this space…People need to be aware of this possibility and invest responsibly.”

Despite this small slump, Litecoin has had a great year, and has risen in value by a whopping 4196.16 per cent, so the news that it could be added to the Gemini exchange could really be a great thing for this coin, and could see it dramatically rise in value.

Featured Image Original Source: Pixabay

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Florida Gov’t Agency Employee Arrested For Mining Crypto Using Dept. Computers

An IT manager from the state of Florida’s Department of Citrus (FDoC) has been arrested this week for using the FDoC’s computer system to mine for cryptocurrencies, according to a Tampa Bay Times article published March 13.

According to the Florida Department of Law Enforcement (FDLE), FDoC employee Matthew McDermott was using computers in the Department of Citrus to mine for cryptocurrencies including Bitcoin (BTC) and Litecoin (LTC).

Crypto mining requires a large amount of electricity, and the utility bills for the Department of Citrus had jumped more than 40 percent from October 2017 to January 2018, around $825.

McDermott has been charged with grand theft and official misconduct and is currently at Polk County jail. The FDLE also noted that McDermott had purchased 24 graphic processing units for over $22,000 using a “state purchasing card” from July to December.

In February of this year, several engineers were arrested at a Russian nuclear power center for attempting to use a supercomputer to mine for Bitcoin.

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New Team Members at MaidSafe!

We’ve had a few new starts here at MaidSafe this week. So, as is traditional around here, we’ll let them introduce themselves. Welcome to Pierre, Lionel and Kayley!

One more ant joins the colony. And that particular ant can’t wait to be an active part of this ambitious project. Let’s rebuild the internet the way it should have been built in the first place: decentralized, resilient, safe, for everyone.

Hi, I’m Pierre, French Londoner, Rust programmer, open-source enthusiast, SAFE Network advocate in pubs.

I’ve been a Londoner since 2012, when I started my career as a C++ programmer. For the first 5 years, I worked on the numerical engine behind gPROMS™, a chemical plant simulation/optimization platform. I learnt C++ on the job as I was coming from a chemical engineering background. During my time there, I wrote NLPSQP, a gradient based optimizer, made the MAXLKHD parameter estimation solver faster by distributing the load across CPU cores and performed large scale code cleanups on the ~500,000 lines of code. I also started being really interested in Linux and the Open-Source world around that time.

In 2013, there was a pretty consistent buzz in the Open-Source community about Bitcoin. Pretty sure the buzz started earlier, but that’s when it started registering on my radar. I read the White Paper and was very impressed at how such a simple algorithm could have such groundbreaking implications in the world. There could now be a democratic, trustless peer-to-peer currency and this was all made possible by the blockchain: an elegant algorithm that could be explained in a 9-page White Paper.

At the time, the entire internet was bubbling with ideas on how to use the blockchain or more generally crypto technologies for solving an array of technical problems that never had an adequate solution before. Many projects started: alt-coins, smart contracts, layers on top of the Bitcoin blockchain itself, decentralized data storage, you name it. Some of these solutions were truly innovative and many of them were a mix of vaporware and scams.

Somewhere in 2014, while looking into this exciting world of possibilities, I learnt about the SAFE network. In this crowded space of crypto solutions, MaidSafe stood head and shoulders above its peers.

Instead of focusing on a specific problem like decentralized encrypted file storage and throwing a blockchain at it, MaidSafe was trying to rethink the foundations of our internet so that solving such a specific problem would be made trivial for any app developer on the SAFE network. The white papers and the few talks from David that I could find made complete sense and even though all the fine details weren’t fleshed out, I could see that this architecture ought to deliver on its promises if executed right. So I started following the project and enthusiastically sharing it with my friends.

A bit later, in 2015 the team decided to rewrite the network in Rust. I had barely heard of Rust back then, but it was supposed to be ‘that cool language by Mozilla’. It claimed to offer C++ speeds without the security pitfalls. I soon started learning Rust in my spare time. It delivered on all the expectations I had from it. For all of C++ faults, I had never really been onboard with more ergonomic languages as they generally sacrificed performance and control over one’s code for usability. With Rust, the language is concise and a pleasure to write in, but I have exact control of what happens to the memory. Oh! And also: no invalid memory access, no use after free, not even a race condition! All thanks to the compiler guiding the programmer towards writing correct code. Long story short, I’ve been working with Rust in my spare time for the last two years and I am completely sold on the language.

The decision for MaidSafe to switch to Rust exemplified an important aspect of the team: they’re in it for the long haul. In software, and especially in the startup world, it is common to favor the quickest path to a minimum viable product over any other solution. MaidSafe picks the solution that will make the network the most closely aligned with the vision. Rust was simply a better choice for security, so the team switched to it despite the costs and risks associated with it. When there is so much pressure to be the first to market, this engineering focus is rare. It is also the only viable way to deliver on the many promises of the network.

So here we are in 2018. I left the quantitative analytics team at a large bank with which I had been working for the last eight months, and decided to follow my passion. I am joining this crazy team of dreamers, ready to change the world one engineering decision at a time.

Watch out! The ants are coming 🙂

Hey guys! It’s really thrilling to be here and thank you for the warm welcome.

I’m a soon-to-be CS graduate from Anna University, Chennai, India. During my journey in Engineering, I’ve always had a thirst for new tech and how it can make everyday life better. Early on in this adventure, I came across the Open Source community and I was instantly inspired. They made a big deal of privacy and freedom and I realised how important both had to be in today’s data-populated internet world.

Among the various types of technology that I explored along the way, I had discovered that I loved building apps for Android. So many ideas could be implemented — and Android as a platform was so much fun to work with. By this stage, I’d ended up working as a web dev — but there was something missing:

Every night I lie in bed, the brightest colours fill my head, a million dreams are keeping me awake. — Hugh Jackman

This feeling was something I could relate to at that time. Being a part of something new has always given me extra drive but this was missing while I was working for a ‘corporate’ firm. Then, out of the blue, I came across MaidSafe. Browsing through videos about the SAFE Network, one phrase caught my attention.

Privacy, Security and Freedom. For everyone.

MIND == BLOWN

So many great ideas and such impressive work. All this and OPEN SOURCE!

That was it. I joined MaidSafe! 😀

I’m so excited to be here as an Android developer and being a part of this community has been a great experience so far. I look forward to working with you all. Cheers!

(Also posted on Medium)

keith-bremner-521872-unsplash

Photo by Keith Bremner on Unsplash

Hi Guys! Just a little intro to tell you a bit more about myself.

I am Ayrshire born and bred.  I grew up in Irvine and then moved to Ayr.  I do enjoy travelling Scotland and all of its beautiful scenery – but I’m a homebird so I never see myself leaving for any length of time!

At home, I have an amazing, supportive wife and two wonderful little boys, Caleb and Hayyden.

I spent my childhood and teenage years doing musical theatre and am still known to break into show tunes every now and then. I trained as a Hairdresser in 2009 and went on to train in Media Make Up in 2012; however I had to stop due to ill health during my training for Fashion Make Up so I unfortunately wasn’t able to pursue a career in that industry. When getting back on my feet, I found myself working in mainly Customer Service and Admin roles.

Having had all of the training that I could get from my previous employer, I’ve now moved onto work with MaidSafe as an Accounts Admin, where I feel that my strengths lie. I’m really excited to start my journey with you all and see what the future brings! 

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LiteCoin (LTC): LitePay Is Not Going To Happen

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Even if you are not a LiteCoin holder, you have probably noticed that not only your currency of choice was going down with the market dip – other currencies fell down in price as well, due to the “misbehaving” of the current market demand. Although there are millions and millions of crypto enthusiasts, the market has been going downwards for months now, with an occasional rise or two only the lucky coins were entitled to. Relying on luck when it comes to investing isn’t that easy, so you can definitely feel the tension growing among the majority of crypto enthusiasts.

Another tension broke out a couple of days ago when LiteCoin announced that their digital product, which was a part of a promising breakthrough for this currency, LitePay, was announced to be delayed indefinitely. How come LitePay is not going to happen and what can we expect from LiteCoin further from this point?

LiteCoin: LitePay is not going to Happen (Yet)

LitePay was announced to be released first around the end of February 2018, then was rescheduled for launching at the beginning of March. However, all LiteCoin users that have taken time to apply for LitePay by pre-registering have gotten interesting, although a disappointing email from LiteCoin development team in charge of LitePay project.

The email stated that LitePay was delayed for indefinitely. That means that LitePay may never happen, at least not in the near future.

LitePay was supposed to represent an easy way to make transactions anywhere in the world at the tip of your finger – easy, simple and with only a couple of clicks away. LitePay project was also planned to have LitePay Debit Cards, similar to those MasterCard and Visa are issuing. So, with LitePay, you would be able to make transactions easily anywhere in the world while also being able to send LiteCoin units from any wallet to the LitePay Debit Card.

LitePay Debit Card should have worked in a way to automatically exchange LTC to any currency, depending on which ATM you are using, where these cards would be accepted anywhere in the world where Visa and MasterCard are normally accepted.

However, this is not going to happen, at least not in the near future. The greatest problem for LTC is that the announcement of LitePay has brought this currency a series of more than several price boosts on the crypto market, so thanks to LitePay, LTC has managed to jump up to trading at over 233$ per one unit after the announcement of LitePay launching.

But, as it would be expected, as soon as LitePay was announced to be delayed indefinitely, the price of LTC started to drop.

The price soon fell from dealing at 233$ per one unit to dealing at 209$ per one coin, while it soon fell under 200$. At the current moment, LTC is trading in the red and is far from the price of around 233$.

LiteCoin: Why LitePay Had to Retreat?

The reason for having to say NO to LitePay, for now, is the sad fact that the developers behind LitePay and LiteCoin couldn’t find anyone to issue their cards for them as card service providers like Visa or MasterCard are not as friendly towards cryptocurrencies as investors and holders are.

That means that LitePay is impossible to make happen at the current moment because card service providers are not interested in partnering up with cryptocurrencies or in this case with LiteCoin. So, that is how LitePay ended unsupported and delayed possibly for forever because they weren’t able to grab attention and capture the interest of any of the card service providers that would propel their project.

That is how poor LTC started to drop in price, slowly giving into the black wave of the dipping crypto market that has been going downwards for months now.

However, if LiteCoin manages to come up with another solution that would enable LitePay to commercially exist without having to use cards; the problem would be, without any doubt, solved.

How is LiteCoin doing at The Current Moment?

LiteCoin was doing great after the announcement of LitePay launching where this currency started to deal at around 233$ per one unit, but eventually, when LitePay was announced to be delayed for indefinitely, the price consequently started to drop.

The aftermath price was done hovering around 209$ per one unit, but it soon fell below 200$ as everyone wanted to get away from the “sinking ship” and see what they can earn along the way, so it is supposed that the price continued to drop further because many holders wanted to make profit from the most recent rises in the price.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of BTC Keychain via Flickr

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BTC USDT BITTREX

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    Cryptocurrency dark web: Litecoin could overtake bitcoin on the dark web

    Litecoin has been tipped as the next dominant dark web cryptocurrency used among cyber criminals, according to research by Recorded Future. 

    Often referred to as the ‘silver to bitcoin’s gold’, Litecoin could well overtake the well known crypto, which has long been the cryptocurrency of choice on the dark web. 

    The conclusion was reached following the analysis of 150 message boards, marketplaces and forums on the dark web.

    It was previously thought Monero would come out on top as the preferred cyber-criminal currency of choice but further research suggested otherwise.

    Bitcoin on the decline

    Bitcoin (BTC) has reduced in popularity since the middle of 2016, with many citing high transaction costs and extended delays. This has prompted many on the dark web to seek out alternative cryptocurrencies.

    An influx of transactions led by bitcoin’s popularity has placed pressure on the blockchain network, contributing to delays in payment.

    These delays can lead to problems for an economy as volatile and risky as the darknet market, Andrei Barysevich, Director of Advanced Collection at Recorded Future, told Express.co.uk exclusively. 

    “The bitcoin network was entirely unprepared for the incredible growth we saw in the past couple of years. Bitcoin use to be instantaneous, you send a payment and the person receives it within the next five seconds,” Mr Barysevich said.

    Cryptocurrency dark web:Getty

    Cryptocurrency dark web: Litecoin has emerged as the next dark web cryptocurrency

    “However when the incredible growth happened last year, the speed of transaction became incredibly painful, meaning you could send the money to someone and it could take upwards of 24 hours to receive and process the payment.

    “So imagine if you are dealing with the dark web and you have to purchase stolen information from somebody, you need the ability to make the payment almost instantaneous, because there is no trust involved among criminals. Every sale, every purchase is risky business.

    “If you tell someone I am sending you the payment and 24 hours later, he still hasn’t received his money, he thinks that you screwed him, he think you probably received the goods, but you never intended to pay.

    “So it creates a whole bunch of problems where people were getting flagged as dishonest businessmen and their reputation would go down.”

    Cryptocurrency dark web:Getty

    Cryptocurrency dark web: Litecoin has faster transaction times and cheaper costs compared to bitcoin

    Litecoin emerges as dark web currency of choice

    In contrast, Litecoin does not have these problems as although it uses the same algorithm of bitcoin, it is still very fast and cheap and has the support of cryptocurrency exchanges around the world, he explained. 

    When Litecoin was introduced in 2011 it was intended to be a superior version of bitcoin and was created through the original bitcoin source and incorporated some of its code.

    It has faster transaction times which results in lower commission fees and a large number of coins being mined compared to BTC, although it does not offer any additional security over bitcoin. 

    Litecoin was found to be an implemented payment method for cybercriminals on 30 percent of the sites analysed by Recorded Future, with Dash trailing closely behind with 20 percent of the market and Bitcoin Cash the third most common cryptocurrency with 13 percent of vendors trusting it as a payment method.

    Ethereum was found to be evidently less popular than Litecoin as it was found on just 9 percent of the researched darknet markets and Monero was the least popular popular currency on the market at just 6 percent.

    Cryptocurrency dark web:Getty

    Cryptocurrency dark web: Litecoin could overtake bitcoin on the dark web

    These findings were at odds to the initial assessment carried out by Recorded Future, which pointed to Monero becoming the next major dark web currency in Europe and Dash in the US, Mr Barysevich explained.

    A dark web poll conducted among several hundred members of a popular criminal forum voted overwhelmingly in favour of Monero being the cryptocurency adopted next after bitcoin.

    However after further research by Recorded Future, this initial assessment was proved false as Litecoin came out as the dominant cryptocurrency.

    Litecoin has been added to several marketplaces as an accepted altcoin and it is estimated bitcoin will lose its place as a dominant payment method in the next six to 12 months.

    Therefore it will not be long until Litecoin emerges as the preferred cryptocurrency of the dark web.

    The post Cryptocurrency dark web: Litecoin could overtake bitcoin on the dark web appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

    BTC to 13k !!

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    Bitcoin, Ripple, Litecoin Price Meltdown; Are Markets Oversold?

    Bitcoin, Ripple, Litecoin, Ethereum News and Analysis

    Cryptocurrency market records heavy losses

    – Bitcoin, Ripple, Litecoin and Ethereum may be oversold in the short-term

    In periods of volatility traders should read the Traits of Successful Traders guide to make sure they stick to market ‘best practice’.

    We have recently released A Guide to Day Trading Bitcoin & Other Cryptocurrencies to help traders navigate this volatile marketplace.

    Cryptocurrency Market Sinks – Double Digit Losses Across the Board

    The cryptocurrency market has suffered another 24-hours of heavy losses as sellers dominate the market, pushing prices through support levels and back towards multi-weeks lows. In just over two months, the overall market value has fallen from a record $830 billion to a current level of $317 billion and is on course to hit the $279 billion low on February 6.

    While all the major crypto currencies still look weak – see below – it should be noted that all of them are currently extremely oversold according to stochastic indicator at the bottom of each chart. This may prompt a small bounce in the tokens before they resume their downward move.

    Top Six Cryptocurrencies by Market Value – March 15, 2018

    Bitcoin, Ripple, Litecoin Price Meltdown; Are Markets Oversold?

    Bitcoin (BTC) Re-Enters Downward Channel

    Bitcoin’s outlook remains negative in the short- to medium-term with the token back in the downward channel from the December 17 high print. Fibonacci support at $8523 was broken easily on March 14 leaving BTC vulnerable to further bouts of selling with little in the way of support until the February 6 low of $6000 comes into play. On the upside resistance at $8523 ahead of $9235.

    Bitcoin Price Chart Daily Time Frame (November 23, 2017 – march 15, 2018)

    Bitcoin, Ripple, Litecoin Price Meltdown; Are Markets Oversold?

    Ethereum (ETH) Bounces of February 6 Low But for How Long?

    After hitting a high of $1427 two months ago, ETH has fallen steadily all the way down to the February 6 low of $565 before a small re-bound. Nine out of the last eleven candles show lower highs, a negative chart set-up, which leaves another test of $565 on the cards which would open the way to support at $524. Resistance around $717 should prove difficult to break in the short-term.

    Ethereum Price Chart Daily Time Frame (October 5, 2017 – March 15, 2018)

    Bitcoin, Ripple, Litecoin Price Meltdown; Are Markets Oversold?

    Ripple (XRP) and Litecoin (LTC) Eye Further Losses

    Ripple continues to fade lower and again is looking at the February 6 low of $0.57 as the first level of support. Break and close below opens the way to the December 22 spike low at $0.42 ahead of $0.20, the start of the rally on December 7.

    Ripple Price Chart Daily Time Frame (November 6, 2017 – March 15, 2018)

    Bitcoin, Ripple, Litecoin Price Meltdown; Are Markets Oversold?

    Litecoin remains in the one-month downtrend and has broken through support at $173. A double low at $106 is protected by Fibonacci support at $118 and may prove difficult to test with a cluster of trade between $138 and $159 providing a modicum of support. On the upside $172 should be within reach before the down channel comes back into play.

    Litecoin Price Chart Daily Time Frame (October 5, 2017 – March 15, 2018)

    Bitcoin, Ripple, Litecoin Price Meltdown; Are Markets Oversold?

    Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

    If you are interested in trading Bitcoin, Bitcoin Cash or Ethereum we can offer you a wide range of free resources to help you. We have an Introduction to Bitcoin Trading Guide along with a Free Practice Account. In addition we have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.

    What’s your opinion on the cryptocurrency market at the moment? Share your thoughts with us using the comments section at the end of the article or you can contact the author via email at Nicholas.cawley@ig.com or via Twitter @nickcawley1.

    — Written by Nick Cawley, Analyst.

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    Litecoin Price Analysis: LTC/USD Nosedives Below $160

    Litecoin price declined further and it even broke the $160 support against the US Dollar. LTC/USD may correct a few points in the short term, but it remains at risk below $180.

    Key Talking Points

    • Litecoin price was not able to recover and declined below the $160 support before recovering (Data feed of Kraken) against the US Dollar.
    • There was a break above a short-term connecting bearish trend line with resistance at $155 on the hourly chart of the LTC/USD pair.
    • The pair is correcting higher towards the $160 and $170 resistance levels.

    Litecoin Price Forecast

    There was no respite for buyers as litecoin price did not move above the $180 level against the US dollar. The LTC/USD pair declined sharply and broke a major support at $175.

    It initiated a major decline and the price even broke the $160 support to move into a bearish zone. LTC is now trading well below the $180 level and the 100 hourly simple moving average.

    Litecoin Price Analysis LTC USD

    It traded as low as $149.96 and is currently correcting higher. The price has moved above the 23.6% Fib retracement level of the last decline from the $169 high to $149 low. Moreover, there was a break above a short-term connecting bearish trend line with resistance at $155 on the hourly chart of the LTC/USD pair.

    The pair is currently making a decent upside recovery above $150, but it is facing many hurdles on the upside. The first hurdle is near $160, which was a support earlier. It also represents the 50% Fib retracement level of the last decline from the $169 high to $149 low.

    Above $160, the price could face a strong selling interest near $170. Therefore, any major recovery from the current levels is likely to face hurdles on the upside near $160 and $170.

    On the downside, the $150 support holds the key. A break below the mentioned $150 support could initiate more declines towards the $135-140 support area in the near term.

    Trade safe traders and do not overtrade!

    The post Litecoin Price Analysis: LTC/USD Nosedives Below $160 appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

    Litecoin vs Bitcoin: Could Bitcoin be outshined by Litecoin soon?

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    When we talk about cryptocurrencies, it is impossible not to mention the leader in this matter, Bitcoin. Nonetheless, this number one position may be at risk due to a whopping increase in the price of Litecoin.

    Although Litecoin is not as consolidated as Bitcoin, this crypto is actually on its way to the top of the list. Let’s recall that Litecoin was founded in 2011, only two years after the well-known Bitcoin was released, but despite this, it currently ranked as the fifth cryptocurrency in value.

    During the last year Litecoin has increased its value in a remarkable number of 4119.82 percent, and if we compare that to Bitcoin, it appears as small with only 13.4 percent the last year.

    One of the reasons why this cryptocurrency is emerging is because of its simplicity; users find it very practical and easy to use. In fact, the Winklevoss twins recently stated they are considering Litecoin as a new possible allied for a market exchange; and if everything works out well, they would be adding the cryptocurrency to their platform during this year.

    At the very moment only Ethereum and Bitcoin are offered on the platform of the Winklevoss brothers, Gemini Exchange, but as one of them said: “…potential tokens for expansion are from the Satoshi Nakamoto family tree – bitcoin, Litecoin”.

    Why Litecoin’s popularity?

    As all the cryptocurrencies, Litecoin was designed to be decentralized and with the hope of being a faster and more simplified currency; and in this matter, Litecoin is achieving its goal.

    The primary key is the time variable; while Bitcoin creates a block of information with data encrypted in about 10 minutes, Litecoin does it in 2 and half minutes; this represents an operation speed of four times faster.

    Consequently transaction fees are much lower, and of course, the whole operation process is simpler. Furthermore, the benefits of this cryptocurrency are under the spotlight of multinational companies such as Starbucks and Amazon, who are actually thinking of adopting Litecoin on their sites this year.

    Could Litecoin price topple bitcoin?

    Litecoin showed a remarkable growth in last year when it passed from having a price of $4.05 to $175.26. On the other hand, Bitcoin has been struggling to stay above $9,000 after dipping below the crucial pricing marker on many occasions lately.

    However, neither of them (Bitcoin or Litecoin) are exempt from falling upon the market pressures. Regarding this matter Charlie Lee, who is a former Google employee, stated the market, in general, is very volatile:

    “I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can’t handle LTC dropping to $20, don’t buy!”

    He later explained that he wasn’t asseverating the market was going to drop, but he thinks this is something to be considered since the cryptocurrency market has proved to be a constantly changing one.

    Why is the crypto market so volatile?

    The uncertainty of crypto-market gets attributed to a lack of supervision, regulation, potential hacking and a sell-off of tokens from the Tokyo Whale.

    Subsequently, a crackdown on the crypto-assets is expected for better and more consolidated monitoring, and international standard-setting as the G20 financial leaders reportedly are going to push for that in annual summit being held in Buenos Aires on March 20. And in case of regulations, all the cryptocurrencies probably will be affected (at least at some extent for a while) but as Bitcoin is the big brother of them all; it might get to bear the brunt of the traders and short sellers more.

    We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

    Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

    Image courtesy of BTC Keychain via Flickr

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    The post Litecoin vs Bitcoin: Could Bitcoin be outshined by Litecoin soon? appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

    Bitcoin drops below $8000 in cryptocurrency slump

    Markets Insider

    • Cryptocurrencies are falling on Thursday morning.
    • Bitcoin is below $8,000 at a 5-week low.
    • Investors are spooked by Google’s advertising bans, as well as ongoing regulation fears.
    • The crypto market has now lost over $130 billion since the start of March.

    LONDON — Cryptocurrencies are falling again on Thursday morning amid continued bearish sentiment in the market.

    Bitcoin dropped below $8,000 to a five-week low and the rest of the market is following its lead. Here’s the scoreboard at 7.15 a.m. GMT (3.15 a.m. ET):

    You can find other live cryptocurrency prices on Markets Insider.

    The slump is part of a wider sell-off in the crypto market that began at the start of the month. Investor confidence was last week been shaken by fears of regulation, big sellers liquidating holdings in the market, and rumours of another exchange hack.

    The latest blow to already shaky investor sentiment is Google’s decision on Wednesday to ban all cryptocurrency advertising on its platforms, which pushed cryptos into the red.

    Trey Ditto, the CEO of crypto-specialist PR firm Ditto, said in an email on Wednesday evening: “Today’s decision to ban ads on Google feels like they’re throwing the baby out with the bath water.

    “We use Facebook and Google to educate potential investors and users about a range of topics and opportunities. I worry this punishes the good actors in this fast-growing space and will thus hurt the consumers and investors who are looking for information to make smart crypto investment decisions.”

    Chris Keshian, CEO of Apex Token Fund, took a more optimistic view, saying in a statement: “Banning is simply a ‘pause’ button as organisations tease out better ways to regulate an asset class that they are in the process of understanding.

    “This won’t be the last ban but, in time, we expect to see some of these restrictions lifted, as more meaningful regulations come into force.”

    Still, the combination of all the negative factors means that the size of entire cryptocurrency market has now declined by over $130 billion since the start of March, according to market data provider CoinMarketCap.com.

    The post Bitcoin drops below $8000 in cryptocurrency slump appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

    Litecoin price ‘BOOST’: Initial coin offering could ELIMINATE crypto volatility

    ICO CryptoSecure recently hired technology security expert John McAfee that caused share prices of Key Capital, the company leading the development of the project, to skyrocket, surely raising its prospects at flourishing and delivering its grand vision for the future of the virtual currency space.

    CryptoSecure has stated that its ambition is to provide “hackproof security solutions” for cryptocurrencies.

    If the ICO blossoms and delivers its lofty ambition, it could negate one of Litecoin’s most volatile characteristics.

    Markets could flourish consistently if the threat of hacks on digital exchanges is non-existent.

    Shares of Key Capital rose by almost 400 per cent following the announcement of McAfee’s arrival.

    In a statement from Key Capital it was revealed that Mr McAfee would be joining the ICO as its senior strategic advisor.

    The statement read: “Mr McAfee met the CryptoSecure team on a recent Blockchain cruise conference at which he was the keynote speaker.

    “During an early morning discussion on the security deficiencies of the cryptocurrency market, he was appraised of CryptoSecure’s military-grade hybrid Blockchain, Trusted Solaris OS, One Time Pad infrastructure project.”

    Mr McAfee was described as a man with “considerable expertise” and a “crypto pioneer and visionary”.

    CryptoSecure said: “John McAfee brings considerable expertise, both technical and industry specific to CryptoSecure.

    “Mr. McAfee is a well-known brilliant, and controversial Internet and crypto pioneer and visionary.

    “He spent his early years as a programmer for NASA’s Institute for Space Studies, and later created the world’s first commercial anti-virus software that still bears his name and is recognised as a leading global brand.

    “Today he concentrates his passion and genius on the future of cryptocurrency and blockchain.

    “He is a champion of the people and a fierce advocate against the increasing incidence and nature of cyber-attacks.”

    Litecoin prices are currently in free fall – the cryptocurrency has shaved $27.09 off its value in the last week.

    The virtual currency is currently selling for $155.01 at the time of writing.

    However, in the last year, the value of Litecoin has risen by a whopping 3517.76 per cent.

    Back on 16 March 2017, Litecoin was worth a mere $4.28.

    After reaching a record high of $339.45 on December 19, 2017, the virtual money has since plummeted.

    Investors will surely be hoping that CryptoSecure is a success and brings more consistency to the trading of cryptocurrencies that have so far been extremely volatile.

    The post Litecoin price ‘BOOST’: Initial coin offering could ELIMINATE crypto volatility appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

    Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, March 14

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

    The market data is provided by the HitBTC exchange.

    Google has followed Facebook in banning cryptocurrency-related advertising. While this is definitely not good news for ICO campaigns that rely heavily on marketing, this is unlikely to hurt the prospects of the coins backed by strong technical fundamentals.

    It won’t influence the already existing coins, because those сryptocurrencies don’t need a marketing team. Bitcoin’s popularity, for instance, continues to grow even as the established players attempt to stifle its rise.

    According to Dennis O’Callahan, CBOE’s director for product development, 7,000 contracts of Bitcoin futures change hands on the Chicago Board Options Exchange (CBOE) every day, which has prompted the CBOE to consider the possibility of offering additional cryptocurrencies for trading.

    BTC/USD

    Bitcoin failed to break out of the descending channel and the moving averages, hence, our suggested buy levels were not triggered.

    BTC/USD

    The failure of the bulls to first break out of $12,172 and then hold the $9,500 levels is a negative sign. This shows that the bulls are losing strength.

    If the BTC/USD pair breaks down of $8,800, it can fall to $7,850 and below this, to the February 06 lows of $6,075.04.

    Currently, the bears have the upper hand. The trend will change only after the bulls break out of the moving averages and the channel.

    ETH/USD

    In the past four days, Ethereum failed to break out of the tight range of $745 to $654. Today, March 14, the bears are attempting to break down of the range.

    ETH/USD

    If successful, the ETH/USD pair can decline to the next support level of $565.54. Below this, the next support lies at $500. The downtrend is intact as the price continues to trade below both moving averages and inside the descending channel.

    Unless the bulls engineer a quick turnaround, the cryptocurrency will continue plunging.

    BCH/USD

    Bitcoin Cash has been trading inside the range of $1,000 on the downside and $1,150 on the upside for the past six days. The bulls failed to sustain above the $1,150 levels on March 11 and March 12, which shows a lack of buying at higher levels.      

    BCH/USD

    Today, the bears will try to breakdown of the $1,000 levels. If this support breaks, the BCH/USD pair might fall to the next lower support of $854.

    Our bearish view will be invalidated if the cryptocurrency breaks out and sustains above $1,200 levels.

    XRP/USD

    Ripple did not reach our suggested buy level of $0.85, hence, the trade was not initiated. Today, the price is likely to retest the next lower support of $0.695.  

    XRP/USD

    If the bulls fail to hold on to this, it can fall to the next support of $0.5627. We expect the bulls to strongly defend these two supports because if they break, the XRP/USD pair can sink to $0.23 levels.

    However, if the supports hold, we might see a few days of range bound action. The next few days are critical for Ripple.

    XLM/USD

    Stellar is under a firm bear grip. The bulls have not been able to reclaim the $0.32 levels, which shows weakness.

    XLM/USD

    With most cryptocurrencies falling, we expect the XLM/USD pair to also follow suit. The next support on the downside is $0.22, below which a fall to the support line of the descending channel is possible.

    Our bearish view will be negated in the short-term if the price breaks out of the downtrend line and the 20-day EMA. Until then, all attempts to rally will face selling at the resistance levels.   

    LTC/USD

    Litecoin broke below the $180 levels yesterday, March 13. Today, March 14, it has continued its journey southwards.  

    LTC/USD

    If the price breaks down of $168, a slide to $160 and after that to $141 is plausible. The LTC/USD pair will become positive in the short-term if the bulls break out and sustain above $200 for four hours.

    As both moving averages have flattened out, we can expect a range bound action in the cryptocurrency once the decline ends.

    ADA/BTC

    At least Cardano is not falling like the other cryptocurrencies. It is trying to break out of the overhead resistance at 0.0000246, though there’s lack of conviction.

    ADA/BTC

    Unless the ADA/BTC pair breaks out with force, it will again turn down from the downtrend line and the 20-day EMA.

    We anticipate a few more days of small range days until the sentiment improves in the crypto world.

    NEO/USD

    NEO has completed a bearish descending triangle pattern with a breakdown of the $86 levels. The bulls will try to hold the next support level of $63.62, but if they fail, a slide to $49 is likely.  

    NEO/USD

    The bearish targets on the NEO/USD pair will be invalidated if the price breaks out and sustains above $94 levels.     

    EOS/USD

    EOS is strong compared to the other cryptocurrencies because it has not broken down of its immediate support of $5.166. If this level holds, we can expect a range formation that can be traded.

    EOS/USD

    However, if the bears force a breakdown of the supports, the EOS/USD pair can sink to the next support level of $3.65.

    We will have a better picture in a couple of days.

    The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

    The post Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, March 14 appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

    SingularDTV at SXSW: New Models for a Sustainable Entertainment Economy

    Zach LeBeau, Gramatik, Khushnuda Shukurova and Nate Bolotin discuss how tech is enabling new ways of producing and distributing music and film.

    SingularDTV’s involvement at SXSW in 2018 has included a host of major events, panels, late night party showcases, and a live AMA as the blockchain revolution continues its takeoover Austin at this year’s edition.

    At the New Financial Models for a Sustainable Entertainment Economy discussion on Saturday March 10 at the Austin Convention Center, CEO Zach LeBeau sat down with DJ Gramatik, filmmaker and Tokit artist Khushnuda Shukurova, and film producer Nate Bolotin of New Frontiers to discuss how blockchain and projects like SingularDTV can provide a better way for creators to fundraise, produce, and distribute their work.

    Gramatik kicked off the conversation by placing blockchain tech in the historical context of techno-anarchy. “I started making music on a computer when I was, like, 12 years old. It was also the same time when internet piracy became a thing,” he explained. “The sole reason I started making music on the computer is because of piracy!”

    Perhaps even more importantly, the internet and file-sharing represented an early version of decentralized networking, and it played an imortant role in creating access to information and the music industry itself for many people, Gramatik included.

    “I come from a working class family. At that time, it was impossible for people from working class background to just become music producers,” he said. “It was similar to blockchain today: unregulated, people didn’t know how to handle it. Meanwhile, it democratized the process of being involved, for regular, working class people to be able to make art in that way. The streaming revolution only addressed one part of the problem: the consumers. For me as a music listener, streaming services are great. For me as an artist, streaming services are still horrible! Blockchain addresses both issues. Some form of this will be the future of entertainment and content creation.”

    Approaching the discussion of blockchain and entertainment from the film perspective, Nate Bolotin discussed New Frontiers, the collaborative endeavor between SingularDTV, XYZ films, and some of the most remarkable young directors and writers in science fiction. “New Frontiers is a sci-fi anthology that was essential invented by a filmmaker named Ruairi Robinson,” Bolotin explained. “He’s a World-building kind of filmmaker. One of the things that we struggle with is that a movie like that is extremely hard to finance through the traditional models of independent film financing. I truly believe that the audience for this film, the right audience for this film, will discover it through SingularDTV.”

    “It’s actually the best sci-fi script I’ve ever read,” exclaimed LeBeau. “I’m really, super excited about it. And I love sci-fi.”

    Scenes from the SingularDTV SXSW Showcase with Gramatie, Mosie, and ilo ill

    Khushnuda Shukurova, whose Detained was successfully crowdfunded via Tokit and SingularDTV, had perhaps the most important message for newcomers at SXSW: “Don’t be afraid of it. Learn about blockchain and cryptocurrencies.”

    Gramatik agreed: “Do as much as you can to learn and single out good media sources, platforms, and publications that are doing a good job of explaining this to the regular public.”

    Keep an eye out for footage from SingularDTV’s next panel from SXSW, Blockchain and the Impact of a Decentralized World, with Kim Jackson, President of Entertainment, filmmaker Alex Winter, and journalist Logan Hill.

    The post SingularDTV at SXSW: New Models for a Sustainable Entertainment Economy appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

    SingularDTV at SXSW: New Models for a Sustainable Entertainment Economy

    Zach LeBeau, Gramatik, Khushnuda Shukurova and Nate Bolotin discuss how tech is enabling new ways of producing and distributing music and film.

    SingularDTV’s involvement at SXSW in 2018 has included a host of major events, panels, late night party showcases, and a live AMA as the blockchain revolution continues its takeoover Austin at this year’s edition.

    At the New Financial Models for a Sustainable Entertainment Economy discussion on Saturday March 10 at the Austin Convention Center, CEO Zach LeBeau sat down with DJ Gramatik, filmmaker and Tokit artist Khushnuda Shukurova, and film producer Nate Bolotin of New Frontiers to discuss how blockchain and projects like SingularDTV can provide a better way for creators to fundraise, produce, and distribute their work.

    Gramatik kicked off the conversation by placing blockchain tech in the historical context of techno-anarchy. “I started making music on a computer when I was, like, 12 years old. It was also the same time when internet piracy became a thing,” he explained. “The sole reason I started making music on the computer is because of piracy!”

    Perhaps even more importantly, the internet and file-sharing represented an early version of decentralized networking, and it played an imortant role in creating access to information and the music industry itself for many people, Gramatik included.

    “I come from a working class family. At that time, it was impossible for people from working class background to just become music producers,” he said. “It was similar to blockchain today: unregulated, people didn’t know how to handle it. Meanwhile, it democratized the process of being involved, for regular, working class people to be able to make art in that way. The streaming revolution only addressed one part of the problem: the consumers. For me as a music listener, streaming services are great. For me as an artist, streaming services are still horrible! Blockchain addresses both issues. Some form of this will be the future of entertainment and content creation.”

    Approaching the discussion of blockchain and entertainment from the film perspective, Nate Bolotin discussed New Frontiers, the collaborative endeavor between SingularDTV, XYZ films, and some of the most remarkable young directors and writers in science fiction. “New Frontiers is a sci-fi anthology that was essential invented by a filmmaker named Ruairi Robinson,” Bolotin explained. “He’s a World-building kind of filmmaker. One of the things that we struggle with is that a movie like that is extremely hard to finance through the traditional models of independent film financing. I truly believe that the audience for this film, the right audience for this film, will discover it through SingularDTV.”

    “It’s actually the best sci-fi script I’ve ever read,” exclaimed LeBeau. “I’m really, super excited about it. And I love sci-fi.”

    Scenes from the SingularDTV SXSW Showcase with Gramatie, Mosie, and ilo ill

    Khushnuda Shukurova, whose Detained was successfully crowdfunded via Tokit and SingularDTV, had perhaps the most important message for newcomers at SXSW: “Don’t be afraid of it. Learn about blockchain and cryptocurrencies.”

    Gramatik agreed: “Do as much as you can to learn and single out good media sources, platforms, and publications that are doing a good job of explaining this to the regular public.”

    Keep an eye out for footage from SingularDTV’s next panel from SXSW, Blockchain and the Impact of a Decentralized World, with Kim Jackson, President of Entertainment, filmmaker Alex Winter, and journalist Logan Hill.

    The post SingularDTV at SXSW: New Models for a Sustainable Entertainment Economy appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

    Bitcoin broke support and may retest pennant support (SMMA 200)

    Bitcoin             just completed a bearish pattern and may fall to the green line to retest the support. We have this huge pennant and in case Bitcoin             breaks it up we will see a huge pump and in case it breaks down it may fall really hard. At this moment we are facing a lot of sideways and we will probably retest the pennant bottom that is also SMMA 200 and fibonacci target. So i would say that Bitcoin             might fall to 6.3-6.7K area in the next days/weeks. Indicators are also bearish confirming another wave down for Bitcoin             .

    The post Bitcoin broke support and may retest pennant support (SMMA 200) appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.

    Bitcoin broke support and may retest pennant support (SMMA 200)

    Bitcoin             just completed a bearish pattern and may fall to the green line to retest the support. We have this huge pennant and in case Bitcoin             breaks it up we will see a huge pump and in case it breaks down it may fall really hard. At this moment we are facing a lot of sideways and we will probably retest the pennant bottom that is also SMMA 200 and fibonacci target. So i would say that Bitcoin             might fall to 6.3-6.7K area in the next days/weeks. Indicators are also bearish confirming another wave down for Bitcoin             .

    The post Bitcoin broke support and may retest pennant support (SMMA 200) appeared first on Coin News 24/7 | All Crypto news sorted for all Coins.