DeBeers Blockchain Pilot Adds World’s Second Largest Diamond Manufacturer

Alrosa, the world’s second largest diamond maker has announced that it is joining  Tracr, the blockchain-based end-to-end diamond tracing solution developed by South African diamond behemoth De Beers Group for the purpose of ensuring that conflict diamonds do not enter its supply chain. In a statement published on its website on October 29, the Russian

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PR: BitCanna – Dutch Blockchain Startup Launching a Revolutionary Cannabis Platform

BitCanna - Dutch Blockchain Startup Launching a Revolutionary Cannabis Platform

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Leading global cannabis brands are ready to go cashless and take advantage of all the opportunities offered by the BitCanna blockchain platform

AMSTERDAM, October 31, 2018 – With the current exponential growth of both the global cannabis industry and blockchain technology, there is a potential partnership that stands to benefit both. Within the cannabis industry, there is a growing demand for payment solutions, track & traceability of crops, and trust mechanisms. BitCanna is combining the best of all worlds, addressing each of these problems through the launch of its blockchain platform and associated cryptocurrency. Over the past year, a team of 20 dedicated specialists has worked in close collaboration with the cannabis industry on the development of the platform and its global expansion. A large and growing number of leading international brands have already confirmed their partnership, and on the first of November their ICO will open for interested investors.

Most banks and financial service providers still refuse to process cannabis transactions due to the large degree of regulatory uncertainty in the industry. Leading experts and entrepreneurs from both the financial and cannabis industries view this as a huge opportunity to build a global digital payment solution for cannabis retailers that can circumvent traditional financial institutions.

“Keeping up with constantly changing cannabis laws is very difficult. So banks, credit card companies, and online payment providers either refuse to get involved in cannabis, or they charge excessively high transaction fees,” according to Jan Scheele, CEO of BitCanna. “That puts companies who are selling cannabis products legally in a tricky situation — they have to figure out how to take their businesses cashless and sell online without breaking any laws. That’s where BitCanna will help.”

BitCanna is a global blockchain technology company that helps cannabis companies to go cashless securely, legally, and cost-effectively. The company claims to be able to process transactions using its BitCanna token almost instantaneously and for a fee of just a few cents. It will also let vendors manage their supply chains and record all customer identification data. It is an incremental technological breakthrough for the entire global industry.

“It doesn’t matter if it’s a $10 or $100 transaction. Our customers will pay a small flat fee,” says Scheele. “We’re introducing a payment system that will make it cost-effective and safe for all cannabis companies to accept digital payments — whether they’re selling online or in-store.”

It’s not just online retailers who can benefit from blockchain technology. Some brick and mortar cannabis retailers spend as much as 10-15% of their revenues on security and staff to upkeep a cash-only business. Providing these companies with payment processing technology can help them reduce security risks while complying with regulations.

Many industry experts believe that despite the growth we’ve seen over the past few years, the cannabis market is only just beginning to take shape. In the United States alone, the cannabis market is forecast to double from $22B in 2017 to $44B in 2020. And the global market is expected to reach $140B by 2027, according to European investment bank Bryan, Garnier & Co.

BitCanna is well-placed to benefit from this growing industry. The company will have direct integration with some of the largest online cannabis shops when it launches in Q3 2019. It will run pilots at brick and mortar locations in the cannabis capitals Amsterdam and Barcelona. BitCanna alone has already partnered with dozens of cannabis companies to create the BitCanna Alliance. Alliance members are active in 27 countries and attract a combined 10 million unique website visitors a month so far.

The company has ambitious plans to become the global digital payment solution for the cannabis industry. It will launch in Europe first and then quickly expand to the rest of the world.

About BitCanna

BitCanna is a decentralized payment network for the legal cannabis industry. The company was founded by Boy Ramsahai, a true cannabis industry veteran who founded an internationally successful cannabis media company in 1991. His Dutch-language magazines High Life and Soft Secrets are well known in the Netherlands. BitCanna has partnered with major brands in the European cannabis market to form the BitCanna Alliance. The Alliance is working to create a healthy and transparent cannabis market by securing and tracking digital transactions and implementing supply chain and customer management.

Contact Email Address
info@bitcanna.io

Supporting Link
https://www.bitcanna.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Bitcoin Price Watch: BTC/USD’s Next Leg Lower Likely

Key Points

  • Bitcoin price is currently consolidating losses above the $6,240 support against the US Dollar.
  • There is a major bearish flag forming with resistance at $6,310 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price remains at a risk of more losses below the $6,240 and $6,200 support levels.

Bitcoin price is under pressure below $6,300 against the US Dollar. BTC/USD is likely preparing for the next downside break below $6,202.

Bitcoin Price Analysis

Yesterday, we saw a major downside move below the $6,350 support in bitcoin price against the US Dollar. The BTC/USD pair declined heavily and broke the $6,240 support and the 100 hourly simple moving average. It traded as low as $6,202 and later started a short term correction. The price moved above the 23.6% Fib retracement level of the recent drop from the $6,433 high to $6,202 low.

However, the price struggled to move above the $6,300 resistance. More importantly, there was no test of the 50% Fib retracement level of the recent drop from the $6,433 high to $6,202 low. At the moment, there is a major bearish flag forming with resistance at $6,310 on the hourly chart of the BTC/USD pair. If the pair fails to stay above the flag support at $6,255, there could be a fresh decline towards the $6,202 low. If sellers remain in action, the price may even break the $6,202 low and trade towards the $6,150 level. On the flip side, a proper break above the flag resistance could push the price towards the $6,350 resistance and the 100 hourly SMA.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price may continue to struggle to recover above the $6,300 and $6,350 levels. Therefore, there is a risk of more losses below the $6,240 level.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is placed in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is still below the 50 level.

Major Support Level – $6,240

Major Resistance Level – $6,300

The post Bitcoin Price Watch: BTC/USD’s Next Leg Lower Likely appeared first on NewsBTC.

Ripple (XRP) Price Analysis: Recovery Won’t Be Easy

Ripple XRP Price

Ripple price recently corrected above $0.4500, but it failed to gain momentum. XRP/USD is currently consolidating with bearish moves below $0.4490.

  • Ripple price is consolidating above the $0.4420 and $0.4350 support levels.
  • There is a flag pattern forming with resistance near $0.4490 on the 30-minute chart.
  • XRP price could dip towards the $0.4350 support before it could correct further higher.

Ripple XRP Price

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Ripple Price Analysis

After trading as low as $0.4350, ripple price started an upside correction. The price recovered above the $0.4400 and $0.4450 levels, but buyers failed to hold gains above the $0.4500 level.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair recovered nicely above the $0.4500 level and the 25 simple moving average (30-minute). During the upside, there was a break above a contracting triangle with resistance at $0.4480.

It traded as high as $0.4534 and later declined below the $0.4500 level. Sellers pushed the price below the 23.6% Fib retracement level of the recent recovery from the $0.4351 low to $0.4534 high.

The price declined further and tested the $0.4440 level plus the 50% Fib retracement level of the recent recovery from the $0.4351 low to $0.4534 high, which acted as a support. At the outset, there is a flag pattern forming with resistance near $0.4490 on the same chart.

It seems like the pair could dip once again towards the $0.4440 or $0.4420 support levels. As long as the $0.4420 and $0.4400 levels are intact, the price is likely to bounce back towards $0.4500 and $0.4540.

The overall trend is still bearish unless ripple buyers push the price above the $0.4575 pivot level. If not, once the current correction is complete, the price may well decline to revisit the $0.4350 level in the near term.

Conversely, if ripple price settles above the $0.4575 pivot level, it will most likely move back in a bullish zone. The next key hurdles for buyers are near $0.4610 and $0.4640. On the downside, a break below the $0.4350 support could push the price below $0.4200.

The market data is provided by TradingView, Bitfinex.

The post Ripple (XRP) Price Analysis: Recovery Won’t Be Easy appeared first on Blockonomi.

Ethereum (ETH) Price Analysis: Targets Fresh Monthly Lows

Ethereum Price

Ethereum price failed to recover above the $200.00 resistance and declined recently. ETH/USD is currently at a risk of more declines below the $195.16 low.

  • Ethereum price failed to gain momentum above the $199.00-200.00 zone.
  • ETH/USD is following a major bearish trend line with resistance at $197.60 on the 30-minute chart.
  • The price may continue to decline if it fails to move past the $198.00 and $199.00 resistances.

Ethereum Price

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Ethereum Price Analysis

After trading as low as $195.16, Ethereum price corrected a few points. The price traded above the $196.00 and $198.00 levels, but sellers took a stand near the $199.00 level.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair failed to test the $200.00 resistance and formed a high at $199.00. During the recovery, there was a break above the 23.6% Fib retracement level of the recent decline from the $205.26 high to $195.16 low.

However, buyers struggled to push the price above the $199.00 level, resulting in a fresh decline. The price declined below $198.00 and a connecting bullish trend line on the same chart.

At the moment, the price is consolidating above the $197.00 level and the 25 simple moving average (30-min). On the upside, there is a major bearish trend line in place with resistance at $197.60.

If there is a break above the trend line, the price may test the next resistance at $200.24 and the 50% Fib retracement level of the recent decline from the $205.26 high to $195.16 low.

On the other hand, if the price fails to clear the trend line, it could decline below the 25 simple moving average (30-min) to retest the $195.16 low. In the mentioned case, there is a risk of more losses below the $195.16 swing low.

The next main support below $195.16 is near the $190.00 level, which could stop the current decline. Overall, the current price action is bearish and it seems like Ethereum price may continue to slide towards $190.00 in the near term.

The market data is provided by TradingView, Bitfinex.

The post Ethereum (ETH) Price Analysis: Targets Fresh Monthly Lows appeared first on Blockonomi.

Crypto Investment Firms Advise Buying Smaller Cap Altcoins During Bear Market

Investing in altcoins is less risky than Bitcoin during a bear market, according to crypto investment firms.

New Wave Capital told Yahoo that the altcoins with smaller capitalization have tremendous long-term potential. Bitcoin, according to the San Francisco startup, could have more baggage to carry during the next bull run. Traders might feel confident about spreading their portfolio in assets with the most practical long-term goals in mind. However, the company agreed that Bitcoin is still the most resilient asset during a bear market.

“In a bear market, everyone moves away from altcoins, and they go back to what has been traditionally more resilient, which is bitcoin,” said CEO Eric Campbell. “They think it’s a safer asset. But when we come back to another bull market in the future, we think people will go back to altcoins.”

New Wave currently features a diverse range of altcoins in its investment portfolio, including Etherum, XRP, Bitcoin Cash, Civic, and Litecoin. The list gets assessed every quarter based on a risk survey and algorithm.

Strong Use Cases

While Bitcoin undoubtedly remains the king of cryptos, several altcoin projects have emerged as alternatives to the first digital currency’s technical limitation. Ethereum, for instance, serves the purpose of creating and launching decentralized apps and smart contracts on the top of a public blockchain. Monero, at the same time, offers users with full privacy, something that Bitcoin provides but partially.

Nevertheless, Bitcoin is among the least affected cryptocurrencies during this year’s bearish sentiment. The coin has lost 54 percent of its value compared to its closest alternatives. Ethereum, again, for instance, has dropped 74 percent against the US Dollar this year. XRP is also down 78 percent, alongside Bitcoin Cash and Litecoin with their 82 and 78 percent losses, respectively.

Combined Altcoins Market Cap | Source: CoinMarketCap.com

Regardless of their weak yearly performances, these projects serve long-term goals related to blockchain’s integration into mainstream industries. Analysts rest their bullish perspectives about altcoins on a fundamental demand and supply theory. Against a limited supply, the demand for these fractionable value units is likely to go up. XRP, for instance, is proving itself to be a  digital currency for cross-border transactions. It is the coin’s basic use case which, upon more adoption, could yield profits in the long run.

New Wave’s co-founder Albert Cheng thinks it is the prime reason why their advisory firm is looking into more Bitcoin alternatives.

“When a market is bearish, there’s a flight to quality, and that’s bitcoin today,” he told Yahoo. “But our service is intended to drive long-term thinking. And if people are holding their portfolios for a long time, I think it’s prudent to have exposure to multiple coins. True paradigm shifts take a long time.”

 

Image from Shutterstock

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XRP Price Momentum Remains Flat Despite Additional Hardware Wallet Support

NullTX XRP Price Downtrend

The past few days have not been easy for Ripple and its native XRP asset. A lot of market volatility has ensued for no apparent reason. It seems unlikely XRP will hit $0.4, although returning to $0.5 has been a very big struggle. For now, it seems the status quo near $0.45 will remain in place.

XRP Price Standstill Remains

It is quite interesting to see how different cryptocurrencies and assets respond to the current market conditions. Considering how Bitcoin remains in the red, it seems safe to assume all of the other markets will continue to struggle as well. This also has a negative impact on the current XRP price, which remains stuck in the $0.45 range for quite some time now.

Over the past 24 hours, no excitement has built up for XRP. The USD value is still in the red by 0.5%, and there is a 0.1% deficit over Bitcoin waiting to be overcome. To top it all off, the trading volume associated with this asset has dropped to under $250m, which is rather low for this particular market. Nothing to be overly excited about, albeit no major concerns have materialized either.

There is some positive news for XRP, although it might not have an immediate impact on the price right now. A new hardware wallet project, which goes by the name of ELLIPAL, will support XRP among other assets and cryptocurrencies. It is an interesting bit of news, as more exposure for these supported assets can only lead to further positive momentum.

Traders and speculators are confident now is a good time to accumulate some more XRP. While it is true all assets and cryptocurrencies have a rather low value when looking at the bigger picture, one also has to be able to warrant buying in at this stage. There is still a long way to go until the markets rebound accordingly, as this negative momentum has been in place for the better part of eight months now.

For those willing to buy XRP, it is always best to look well beyond eBay listings in this regard. More specifically, there is a growing number of listings selling small batches of XRP for steep prices. Although eBay doesn’t officially prohibit such sales, one has to wonder why anyone would buy XRP off this platform in the first place.

For the time being, it remains to be seen if and when the XRP price can recover. At this time, things are not looking overly bleak, although there isn’t much positive news either. The new hardware wallet may lead to some interesting developments down the line, assuming this product can meet users’ expectations.

The post XRP Price Momentum Remains Flat Despite Additional Hardware Wallet Support appeared first on NullTX.

A Dutch Startup Is Launching a Revolutionary Platform, Putting the Entire Global Cannabis Industry on the Blockchain

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

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Korea’s Finance Minister Approves Banks Working With Crypto Exchanges

Choi Jong-Ku, the commissioner of the Financial Services Commission (FSC) of South Korea, has reaffirmed that there exists no issues related to compliance and security in the process of banks providing virtual bank accounts to local cryptocurrency exchanges. At the state affairs audit conducted by the government of South Korea to evaluate the progress of

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Cardano Price Analysis: ADA/USD Could Accelerate Below $0.070

Key Highlights

  • ADA price declined further and traded below the $0.0700 support area against the US Dollar (tethered).
  • There was a break below a contracting triangle with support at $0.0725 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
  • The pair is under pressure and it could accelerate declines below $0.0700 in the near term.

Cardano price remains in a downtrend against the US Dollar and Bitcoin. ADA/USD could continue to move down towards the $0.0650 level if sellers remain in action.

Cardano Price Analysis

In the last analysis, we discussed that cardano price could slide towards the $0.0700 level against the US Dollar. The ADA/USD pair did trade lower and not only tested the $0.0700 level, but surpassed it. The pair traded as low as $0.0691 and it is currently consolidating losses. During the decline, there was a break below the key support near $0.0700 and the 100 hourly simple moving average.

More importantly, there was a break below a contracting triangle with support at $0.0725 on the hourly chart of the ADA/USD pair. An initial resistance is the 23.6% Fibonacci retracement level of the recent decline from the $0.0753 high to $0.0691 low. If there is an upside move above the $0.0700 level, the broken support at $0.0720 and the 100 hourly SMA could stop upsides. Moreover, the 50% Fibonacci retracement level of the recent decline from the $0.0753 high to $0.0691 low is near $0.0722 to prevent gains. Therefore, any major recovery from the current levels could face sellers near $0.0720 or $0.0725.

Cardano Price Analysis ADA Chart

The chart indicates that ADA price is at a risk of more declines as long as it is below $0.0725 and the 100 hourly SMA. If there is a downside break below the recent low, the price may accelerate towards the $0.0670 or $0.0650 level.

Hourly MACD – The MACD for ADA/USD is about to move back in the bearish zone.

Hourly RSI – The RSI for ADA/USD is well below the 50 level.

Major Support Level – $0.0690

Major Resistance Level – $0.0725

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Crypto Security Company Ledger Opens Branch in Hong Kong

Major crypto hardware manufacturer Ledger, with headquarters in Paris and San Francisco, extends to the Asia Pacific.

Crypto hardware wallet firm Ledger has announced it is opening a new branch in Hong Kong, according to a press release shared with Cointelegraph Wednesday, Oct. 31.

One of the leading hardware wallet manufacturers with headquarters in Paris and San Francisco, Ledger also reveals that it has assigned Benjamin Soong as head of the Asia Pacific (APAC), responsible for all Ledger operations held in the region. Soong is a former managing director for U.S. financial analytics corporation S&P Global.

Ledger’s president Pascal Gauthier further explained that Soong will help the company monetize its opportunities in APAC:

“He brings a tremendous amount of experience and expertise in the region, which will help Ledger capitalize on future opportunities. APAC is a key market that has seen increased demand. With Benjamin at the helm, we are confident we can deliver top security for both consumers and financial institutions to protect their crypto assets.”

Prior to the recent announcement, Ledger, together with software provider for cryptocurrency Blockchain.com, had revealed it is launching a hardware wallet that is fully compatible with the Blockchain Wallet. According to the release, the companies aim to offer “a convenient alternative” to store crypto offline for 30 million users.

In January, Ledger succeeded in raising $75 million in a Series B funding round led by European venture capital firm Draper Esprit. The amount raised was said to be the largest non-Initial Coin Offering (ICO) round by a cryptocurrency startup, following a $7 million Series A in 2017.

As Cointelegraph wrote in July, Ledger reportedly attracted the interest of tech giants like Samsung, Google's venture arm GV, and Siemens after the company managed to sell more than one million hardware crypto wallets throughout 2017, earning a profit of $29 million.

Recently Hong Kong officials have revealed plans to introduce crypto regulations. In June, Hong Kong’s Securities and Futures Commission (SFC) said that the regulator was keeping “a close watch” on crypto and ICOs, “intervening when appropriate.” Earlier this month, the SFC’s chairman told a local newspaper that the watchdog was planning to establish a legal framework for crypto assets.

Blockchain Voting Systems May Change the Political Process

Blockchain Voting

Blockchain voting systems are gaining support from younger people who want to update an aging electoral system. Most of the voting infrastructure was designed when there was little in the way of advanced communication technology. Blockchain voting systems offer new ways to entice voters that normally don’t participate, and they also offer a greater level of speed and oversight.

In the USA, the federal voting systems were designed in a time when telegraphs didn’t exist. The electoral college is very archaic, and many feel that it is unnecessary. People who vote for a presidential candidate don’t actually vote directly, as the US president is voted into office by members of the electoral college instead. This system was great when messages had to be transferred by messengers on horseback, but today it is an anachronism.

Blockchain Voting

In addition to being poorly designed by modern standards, voting is unpopular in the USA. In 2016 less than half of the country voted. Many people don’t want to deal with the registration process, or be left behind by a system that is very flawed. The presidential elections in 2000 were a demonstration of how votes can just disappear, and many people felt alienated by a voting process that ultimately didn’t matter.

Blockchain Voting is Catching On

West Virginia has decided to allow their citizens to vote via a blockchain voting system. Instead of going to a polling place, citizens of West Virginia will be able to vote from their smartphone. The system that was announced of April of this year uses videos to confirm a voter’s identity and records the votes on a blockchain.

The system is specifically designed to help members of the US Military and Law Enforcement Officers (LEO’s) gain access to the political process. Mac Warner, who is West Virginia’s Secretary of State, told CNN that, “There is nobody more deserving of the right to vote, than the men and women out there putting their lives on the line.”

In many cases military personal and LEOs don’t have time to go to polling places, and are thus left out of the electoral process. It is unfair that the people who work for state security have to miss out on their constitutional right to vote, and blockchain voting systems could be the answer to this problem.

Blockchain Voting

Read: Blockchain for Voting: How it can Improve the Election Process

Get Blockchain Into Voting

It is no secret that younger people don’t vote as much their older counterparts. Many young people want to be politically active, but they tend to work longer hours or are unable to make it to polling stations when they need to be there.

If the blockchain voting platform that is being used in West Virginia is successful, it could be amplified to national elections. Many young people would be more likely to vote if they could do it from a user-friendly app, from the comfort of a bar or friend’s house. Not only would more people be participating in the political process, but the connections that voting parties could engender may also be a benefit to the overall political landscape.

According to Tom Mizzone, the CEO of Sweet, “More than ever, young people want to engage, but don’t necessarily know how.” Sweet is an online social marketplace and loyalty platform that is working on gamifiying voter outreach. They have already attracted major names like the Black Eyes Peas, and work with Rock The Vote to encourage more voting in younger age brackets.

Participation Could Bring Peace

The global political landscape is looking strained. There are major divisions emerging between disparate political viewpoints. The last few years have seen nasty, violent clashes in political disputes, so it makes sense to do whatever is possible to create as much political participation as possible.

Younger people have always been laggards when it comes to voting, but smartphones and blockchain could put an end to all that. People are probably less likely to take up violent political positions when they feel their voice is being heard, and their vote counted. Blockchain voting platforms could help tremendously in every regard.

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VeChain Price Dips to $0.01 Amid Foundation’s Partnership Confusion

vechain thor

Although it seemed as if there was some positive momentum brewing yesterday, most markets are subdued once again. VeChain is no different in this regard, as its value is still heading own. In fact, there is a good chance VET will drop below $0.01 in the coming hours, unless something changes drastically.

VeChain Price Momentum Isn’t Impressive

It has become increasingly difficult to find any cryptocurrency which can sustain an uptrend for more than a few hours. The year 2018 has not been too kind in this regard, and it seems the woes will continue for some more time to come. That is never a good sign, but there is very little one can do about these things. For VeChain, things are not looking great by any means.

Over the past 24 hours, VeChain lost another 3.4% in USD value and nearly 3% compared to Bitcoin. Both of these trends are cause for concern, primarily because things have been looking bleak for an extended period of time now. This latest dip pushes the value into the $0.01 range and may end up causing VET to drop below this key level pretty quickly.

Looking across social media, there are some concerns regarding the alleged removal of a key partner of the VeChain Foundation. Kuehne + Nagel is no longer officially mentioned on the website, which seems to indicate this partnership has fallen through. A bit of clarification on this front will be needed to nip any rumors in the bud accordingly.

In other news, there are some key fundamentals about VeChain which cannot be overlooked. It is an innovative blockchain project first and foremost, especially where its opt-in network fee payments are concerned. That is one aspect a lot of users tend to overlook, although it remains to be seen if this business model will truly set VeChain apart.

Last but not least, no day goes by without some Coinbase listing speculation. In the case of VeChain, Crypto Enthusiast firmly believes Coinbase will add VET to its platform fairly soon. Until the exchange officially confirms such rumors, the information should be considered as fake first and foremost. Coinbase has thousands of currencies to choose from, and nothing has been made official at this time.

All of the warning signs point toward a further VeChain price dip in the coming hours. It is not impossible to expect the price to drop below $0.01 for a while, although it might rebound in quick succession afterward. Until Bitcoin picks up the pace again, altcoins will continue to struggle for the foreseeable future.

The post VeChain Price Dips to $0.01 Amid Foundation’s Partnership Confusion appeared first on NullTX.

Ripple Price Analysis: XRP/USD Could Revisit $0.4500 and 100 SMA

Key Highlights

  • Ripple price started a short term correction and moved above $0.4400 against the US dollar.
  • There was a break above a major bearish trend line with resistance at $0.4410 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is currently struggling to gain traction, but it may soon test the $0.4500 resistance area.

Ripple price is trading below key resistances against the US Dollar and Bitcoin. XRP/USD may well correct towards the $0.4500 resistance and the 100 hourly SMA.

Ripple Price Analysis

Yesterday, there was a nasty downside move below the $0.4400 support in ripple price against the US Dollar. The XRP/USD pair even traded below the $0.4340 support, but later it recovered. The price settled above the $0.4400 level and spiked above the 50% Fib retracement level of the recent slide from the $0.4601 high to $0.4262 low. However, the price failed to surpass the $0.4470 resistance.

There was also a rejection near the 61.8% Fib retracement level of the recent slide from the $0.4601 high to $0.4262 low. The price traded back towards $0.4360 and later recovered. Recently, there was a break above a major bearish trend line with resistance at $0.4410 on the hourly chart of the XRP/USD pair. Therefore, there is a chance that the price could correct higher once again towards $0.4500. However, the price is likely to face a strong resistance near $0.4470, $0.4500 and the 100 hourly simple moving average. Only a close above $0.4500 and the 100 hourly SMA could push the price back in a positive zone.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price still in a downtrend, with an immediate support at $0.4400. The main supports are $0.4360 and $0.4340, below which the price may decline to the $0.4262 low.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slightly placed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is neutral around the 50 level.

Major Support Level – $0.4340

Major Resistance Level – $0.4500

The post Ripple Price Analysis: XRP/USD Could Revisit $0.4500 and 100 SMA appeared first on NewsBTC.

Controversial Venezuelan State Cryptocurrency ‘Petro’ is Now for Sale

After months of speculation regarding the status of Venezuela’s much-publicised Petro cryptocurrency project, the Venezuelan government has announced that the Petro is now available for sale and can be bought with bitcoin and litecoin. A tweet from the official account of the Venezuelan Vice president of the Economy, Tareck El Aissami posted on October 29

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Bitcoin viert 10e verjaardag!

Tien!

Tien jaar geleden, op 31 oktober 2008, publiceerde Satoshi Nakamoto het paper genaamd “Bitcoin: A Peer-to-Peer Electronic Cash System” en ongeveer twee maanden later ging het bitcoinnetwerk live. Op 3 januari 2019 zal het bitcoinnetwerk tien jaar oud zijn. Er zullen niet veel mensen geweest zijn die hadden kunnen voorspellen wat er in die tien jaar allemaal zou plaatsvinden, misschien had zelfs Satoshi zelf er niet van durven dromen.

It might make sense just to get some in case it catches on. - Satoshi Nakamoto

We stipten onlangs al aan hoe bitcoin gedurende de afgelopen tien jaar nagenoeg vlekkeloos geopereerd heeft, betrouwbaar is geweest en altijd online is geweest. In deze 10 jaar heeft bitcoin geen grote blunders gemaakt en heeft zich bewezen als degelijk en betrouwbaar wereldwijd betaalsysteem. Wat een prestatie.

Bitonic viert!

Op woensdag 31 oktober aanstaande, precies tien jaar na de publicatie van de Bitcoin whitepaper, organiseert Financieel Erfgoed samen met Bitonic een bijeenkomst om deze revolutionaire gebeurtenis te vieren. Tien jaar na dato had ook Satoshi Nakamoto de impact van dit idee niet kunnen voorspellen.

In de Beurs van Berlage zal onder het genot van een drankje stil worden gestaan bij het historische en opstandige belang van Bitcoin. Simon Lelieveldt van Financieel Erfgoed zal tegen 20.00 uur een lezing houden over hoe deze opstandige filosofie ten grondslag ligt aan de Beurs van Berlage.

Lees meer over deze avond of lees het originele bitcoin whitepaper.

Study: 60% of Eligible Voters Believe Crypto Donations Should Be Legal In Federal Elections

A Clovr survey of 1,023 registered voters in the United States found that 60% of respondents thought it should be legal to donate crypto in federal elections.


Clovr, a “company focused on promoting the mainstream adoption of blockchain technology,” has carried out a few surveys to gauge people’s attitudes about cryptocurrency.

In early October, the company found that 75% of respondents surveyed via Amazon’s Mechanical Turk platform had an understanding of what cryptocurrency is.

60% of the 1,004 respondents affirmed they felt comfortable “explaining cryptocurrency” to a novice.

The most recent Clovr survey focused on electoral politics. Respondents were asked a variety of questions that had to do with cryptocurrency and its use inside the often-seedy world of political donations.

Clovr wrote how responses were weighted by political party affiliation to “achieve a representative sample of the American voting public.”

Voters Generally Have Strong Confidence in Cryptocurrency

Out of 1,023 eligible voters surveyed in the United States through Amazon’s Mechanical Turk Platform, 60% said it “should be legal to donate cryptocurrency in federal elections under the same rules that apply to donations in U.S. dollars.”

Clovr says voters agreed that virtual currencies and traditional ones like the dollar “should be treated equally.”

Current U.S. federal law limits donations in virtual currencies to $100 as an in-kind contribution. The rules are much different for donations in fiat.

When asked if digital currency was “secure enough to be used for political purposes,” 54% believed it was, while 26% said security was an issue.

The polling numbers were a bit tighter when people were asked if cryptocurrency was “financially stable enough” to be utilized for political purposes.

In this case, 42% believed it was, while 35% said it was not. The remaining 23% was unsure. Clovr said:

62 percent of voters extremely familiar with cryptocurrency expressed confidence in using it for political purposes.

Otherwise, roughly 25% of eligible voters in the survey indicated they would be more apt to donate to a political campaign if they could use cryptocurrency.

Concerns About Misuse Remain Prominent

Despite the positive sentiments by survey respondents towards cryptocurrency’s role in the political world, optimism waned when it came to questions about misuse or illicit practices.

60% of those surveyed affirmed the use of cryptocurrency in the political system would “make foreign interference in elections more common.”

Bitcoin May Finally Have a Friend in Washington

About the same number, 62%, believed it was more likely virtual currency would be used illegally in the political world in comparison to the US Dollar.

Respondents turned decidedly more cynical when asked if political parties would illicitly capitalize on looser cryptocurrency donation regulations.

Clovr writes that there is a 90% “perceived likelihood” the Republican Party would illegally misuse cryptocurrency. The number was 83% for the Democrats, 63% for Libertarians, and 60% for the Green Party.

What are your thoughts on the recent survey from Clovr? Let us know in the comments below!


Images courtesy of Bitcoinist archives, Shutterstock, Clovr.

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Another Crypto Exchange’s Victory in Banking Battle

Source: iStock/kparis South Korean Blockchain community leaders have welcomed a Seoul district court’s decision to overturn a banking ban on exchange platform Coinis. Nonghyup (NH) Bank, one of the country’s largest commercial banks, last month decided to end its banking partnership with Coinis, a

Ethereum Price Analysis: ETH/USD’s Previous Support Now Resistance

Key Highlights

  • ETH price started a short term upside correction and moved above $196 against the US Dollar.
  • There is a key connecting bearish trend line formed with resistance at $198 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair recently tested the previous support at $198, which acted as a solid resistance.

Ethereum price is slowly recovering against the US Dollar and bitcoin. However, ETH/USD is likely to face a lot of hurdles near $198 and 100 hourly SMA.

Ethereum Price Analysis

Yesterday, there was a major downside move below the $198 support in ETH price against the US Dollar. The ETH/USD pair declined below the $195 level and traded towards the $190 level. It traded as low as $190.91 settled below the 100 hourly simple moving average. Later, the price started an upside correction and traded above the $194 and $195 levels.

Buyers also pushed the price above the 23.6% Fib retracement level of the last drop from the $204 swing high to $190 swing low. The price also moved above the $196 level, but it faced a strong resistance near the $198 level. The stated $198 level was a support earlier and now it is acting as a resistance along with the 100 hourly simple moving average. Besides, the 50% Fib retracement level of the last drop from the $204 swing high to $190 swing low is also near the $198 level. More importantly, there is a key connecting bearish trend line formed with resistance at $198 on the hourly chart of ETH/USD.

Ethereum Price Analysis ETH Chart

Looking at the chart, ETH price is facing a tough challenge near the $198 and $199 levels. As long as the price is below these resistances, it could resume its decline below $196. On the downside, the $190 level is a solid support followed by the $185 level.

Hourly MACDThe MACD is currently placed in the bullish zone.

Hourly RSIThe RSI is back above the 50 level.

Major Support Level – $190

Major Resistance Level – $198

The post Ethereum Price Analysis: ETH/USD’s Previous Support Now Resistance appeared first on NewsBTC.

Checking Crypto Prices on Your Mac? Watch Out for Malware

A popular cryptocurrency price ticker available to download for Apple’s Mac computer lineup includes malware that could expose investors to cyber criminals seeking to steal a user’s cryptocurrency holdings.

CoinTicker Mac App Leaves Investors Exposed to Malware

Cyber security firm Malwarebytes Labs, best known for their antivirus and malware monitoring and removal software, has posted a public service announcement on their official blog, warning Mac users of a cryptocurrency price ticker app available to download on the Apple App Store for Mac that leaves users exposed to two potential backdoors for cyber criminals to access.

The app, called CoinTicker, adds a handy price ticker in the status bar at the top of a Mac user’s screen, alongside important information such as the time, date, and wifi connection. The app can be set to show real-time price data for Bitcoin (BTC) and dozens of other altcoins such as Basic Attention Token (BAT) and Monero (XMR), pulled directly from popular exchanges like Bitfinex, Binance, and many more.

Malwarebytes Labs reports that a forum user had discovered that after the app was installed, CoinTicker then installs two open-source backdoors by the name of EvilOSX – in reference to Mac OSX – and EggShell. The two “broad-spectrum backdoors” aren’t malicious on their own, but Malwarebytes Labs believes the access would be used to steal a user’s crypto assets.

“Since the malware is distributed through a cryptocurrency app, however, it seems likely that the malware is meant to gain access to users’ cryptocurrency wallets for the purpose of stealing coins,” the company speculated.

While Apple is known to have a strict process for vetting apps, CoinTicker is currently ranked 100th in Apple’s App Store list of finance-related apps and is putting Apple customers who invest in cryptocurrencies at a significant risk. The oft cited claim from Apple aficionados that their machines are immune to malware is weakening by the day. 

How to Protect Yourself From Crypto-Malware

Cryptocurrency investors are already dealing with enough challenges, including a sometimes difficult-to-understand emerging technology, market uncertainty, and more. But among the most important issues for crypto investors to look out for, are related to malware and personal security.

There are two primary types of cryptocurrency malware users should be aware of: crypto-jacking malware used to mine for cryptocurrencies, and malware geared toward stealing a user’s cryptocurrencies. While crypto-jacking still poses a threat to users, it doesn’t put a user’s assets at risk. It instead hijacks computer resources to mine for cryptocurrencies, and can cause issues like computer slowdown, or cause programs to crash while the malware operates in the background. None of which is a serious threat.

However, it’s the crypto-stealing malware that either steals sensitive user data such as logins and passwords, or replaces crypto wallet addresses copied to a computer’s clipboard with a cyber criminal’s address, that investors need to be extra wary about.

Crypto investors are encouraged to do their own research into crypto-related security measures, however, a few simple steps can go a long way in keeping crypto assets safe:

  • Only download apps, add-ons, or plug-ins from a trusted third-party.
  • Ensure all system software and apps, add-ons, and plug-ins are updated regularly.
  • Look out for any unusual computer slowdown after downloading a new program.
  • Double- and triple-check crypto wallet addresses before sending.
  • Regularly scan your computer using a reputable malware removal tool, such as the one provided by Malwarebytes Labs.
  • Last but not least, never, ever disclose your crypto holdings publicly – it could make you a target.

 

Image from Shutterstock

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A Very Spooky Crypto Halloween!

Halloween is one of those holidays that many celebrate - regardless of religion, ethnicity, political affiliation or personal ideals, people love dressing their kids up (or themselves), go trick or treating or to a party and generally let go. The crypto community is no exception, and we’ve collect

UK: Revised Crypto Tax Guidance Coming in 2019

Source: iStock/baona The beginning of 2019 might bring tax-related news to the UK’s crypto market. Her Majesty's (HM) Treasury is working closely with HM Revenue and Customs (HMRC) to consider the tax issues raised by cryptoassets and the revised guidance is estimated to be released by early 2019,

Cryptocurrency Market Update: Birthday Bitcoin Stays Over $6,000 for a Year

FOMO Moments

Markets have found a new level for now; Dash, OmiseGO starting to recover, Revain dumping still.

Crypto markets seem to have found another plateau for the time being. Yesterday’s big dump stopped just above $200 billion total capitalization and markets have remained at that level today.

Bitcoin has found support above $6,300 for now and has stayed there for the past 24 hours remaining flat on the day. The bears are still dominating things so a further decline to $6,200 could be imminent. Ethereum has extended its losses and remains under $200 at $197 at the moment.

Altcoins are currently mixed which suggests that they have found another level and no further losses have occurred. In the top ten only Monero has managed to claw back anything, and that is only 1.2% to just over $100. The biggest loser is Cardano again as ADA slips closer to dropping out of the top ten.

The top twenty is also half green and half red but only marginally. Dash is currently making the best recovery with a 2.5% gain to $156. Still falling is VeChain with a further loss of 2.5% during the morning’s Asian trading session. Just outside this area of the chart at 21 is OmiseGO has also made nearly 4% back today.

There are no double figure fomo pumps right now but topping the top one hundred’s best performing altcoins at the time of writing is Chainlink and Pundi X bit gaining 6-8 percent on the day. PIVX has also regained 5% and Loom Network is not far behind.

Topping the red end of the top one hundred and the only altcoin with a double digit loss is Revain shedding 13% at the moment. Also getting beat up is Cryptonex, Dentacoin, Digitex Futures, and Revencoin all losing over 7% on the day.

Total market capitalization has held the level it fell to yesterday which is $203 billion. Trade volume is a lowly $10 billion and this appears to be its new channel for now. We are still in the depths of 2018’s yearlong crypto winter. Bitcoin’s dominance has remained over 54% for its birthday and aside from a couple of quick dips has remained over $6,000 for a year which is remarkable.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

The post Cryptocurrency Market Update: Birthday Bitcoin Stays Over $6,000 for a Year appeared first on NewsBTC.

Bitcoin Cash Price Analysis: BCH/USD Recovery Facing Hurdles

Key Points

  • Bitcoin cash price started a short term correction and moved above $420 against the US Dollar.
  • There is an ascending channel in place with support at $415 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair recently tested the channel resistance and failed to break the $422-423 zone.

Bitcoin cash price remains in a bearish zone below $430 against the US Dollar. BCH/USD may correct further higher, but it is likely to find resistance near $425-430.

Bitcoin Cash Price Analysis

Yesterday, we saw a major downside move below the $430 support in bitcoin cash price against the US Dollar. The BCH/USD pair traded as low as $408 and settled below the 100 hourly simple moving average. Later, the price started a short term recovery and moved above the $415 level. It also managed to clear the 23.6% Fib retracement level of the recent drop from the $438 high to $408 low.

The upside move was positive as there was a spike above the $420 level. However, the price failed to surpass the $422-423 zone. There was also no test of the 50% Fib retracement level of the recent drop from the $438 high to $408 low. At the outset, there is an ascending channel in place with support at $415 on the hourly chart of the BCH/USD pair. The pair is currently moving lower towards the channel support at $415 where buyers could emerge. In the short term, it seems like the price may correct towards the $425 or $430 resistance levels.

Bitcoin Cash Price Analysis BCH Chart

Looking at the chart, BCH price remains in a downtrend as long as there is no close above $430. On the downside, the recent low at $408 is a decent support followed by the $400 handle.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is slowly moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now back above the 50 level.

Major Support Level – $415

Major Resistance Level – $425

The post Bitcoin Cash Price Analysis: BCH/USD Recovery Facing Hurdles appeared first on NewsBTC.

Ron Paul Advocates for Cryptocurrencies to be Tax-Free While Criticizing US Fed

Ron Paul, the Austrian School economist and notable Libertarian who served as a US Representative for over ten years, is now advocating for a tax exemption on cryptocurrencies. He also noted that the issuance of a government-backed digital currency, as opposed to private or decentralized ones, could lead to a “Fed-created recession.”

Paul made these remarks in a recent blog post titled “Trump is Right, the Fed is Crazy,” where he not only criticized the central bank, but also supported cryptocurrencies, explaining that one way to end the “monetary madness” is to stop taxing cryptocurrencies.

He also noted that a so-called Fed-created recession could lead to the end of fiat currency, which is why they should support the use of non-state-backed fiat currencies, and that all cryptocurrency and precious metal-related transactions should be exempt from capital gains taxes.

“It is likely that the next Fed-created recession will come sooner rather than later. This could be the major catastrophe that leads to the end of fiat currency. The only way to avoid crisis is to force Congress to end our monetary madness. The first steps are passing the Audit the Fed bill, allowing people to use alternative currencies, and exempting all transactions in precious metals and cryptocurrencies from capital gains taxes and other taxes,” Paul explained.

On the unlikely chance that the government follows Paul’s suggestion and excludes cryptocurrencies from capital tax gains, it would be an incredibly positive development for the industry, as it would further legitimize the markets and encourage traditional investors to enter the markets due to the lack of taxes.

Ron Paul Has a Long-Established Record for Advocating for Cryptocurrencies

Paul has a long-established track record for being an advocate for cryptocurrency, and recently wrote extensively about it in a June post titled “The Dollar Dilemma, Where to From Here?” In this post, Paul notably explained that cryptocurrency, and gold, could play a serious role in restoring citizen’s confidence in currencies and could help re-establish economic order.

In this post, he explained that the markets will easily sort out whether or not cryptocurrencies or precious metals are the answer to a flawed financial system but added that the government’s intervention in the markets will act as the largest barrier.

“The marketplace is quite capable of sorting out the advantages and disadvantages of cryptocurrencies and precious metals. The biggest challenge will be to get the government out of the way to allow this choice,” Paul said.

He further explained that the world may one day see a monetary system based on a mixture of precious metals and cryptocurrencies, each posing certain advantages that account for the other’s disadvantages, saying that:

“It’s conceivable that cryptocurrencies, using blockchain technology, and a gold standard could exist together, rather than posing an either-or choice. Different currencies may be used for certain transactions for efficiency reasons…A combination of gold and crypto will prove to be a lot more achievable than getting people to adapt to a totally new concept of money.”

In 2013, someone created a cryptocurrency called RonPaulCoin to pay tribute to his Libertarian ideals that are often seen as being embodied by decentralized cryptocurrencies.

Featured image from Shutterstock

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Warren Buffett’s Berkshire Hathaway Invests $600 Million in Two FinTech Firms

Warren Buffett's Berkshire Hathaway Invests $600 Million in Two FinTech Firms

Despite Buffett’s blatant disdain for cryptocurrency and fintech, two $300 million dollar investments into two fintech payment firms suggest that Berkshire Hathaway may be ready to join the crypto party.


A Change of Heart?

On Tuesday the Wall Street Journal (WSJ) reported that Warren Buffett’s multinational investment conglomerate, Berkshire Hathaway, is reported to have invested nearly $600 million in two fintech firms focused on emerging markets.

Buffett, who is a notorious no-coiner, is also infamously vocal about his disdain for cryptocurrency and has gone on record as saying “Bitcoin isn’t an investment” as it “doesn’t produce anything.” He believes that the “rat poison” is “neither a currency” nor “a way of investing.” Therefore it makes sense that the most recent investments were managed by Todd Combs who is one of Berkshire’s two portfolio managers.

Berkshire Hathaway Warren Buffett

Berkshire Takes a Leap of Faith

In August, Berkshire is said to have invested $300 million in Paytm, India’s largest mobile-payments provider and last week the firm spent $300 million to purchase IPO shares in Brazilian payments processor StoneCo. These investments raise attention as investors have long pondered what direction the firm will take in the absence of Buffett, as it is thought that shares of Berkshire Hathaway carry a premium thanks to the ‘oracle’ of Omaha’s’ brilliant leadership.

Furthermore, Buffett is known for making investments primarily in blue-chip companies like Coca-Cola, Wells Fargo, Bank of America, and Phillips 66. The current investments into fintech companies represent an uncharacteristic deviation from Berkshire’s traditional investment selections.

Admittedly, Buffett has previously commented that tech sector investments are removed from his realm of expertise. Combs, on the other hand, has plenty of experience investing in the tech sector as he managed a hedge fund with significant investments in the sector and now hold a spot on the Paytm board.

Currently, Berkshire Hathaway has $711.9 billion in assets under management (AUM) and these recent investments show that Berkshire is “widening” it’s portfolio’s sector allocations.

Do you think Berkshire Hathaway will eventually invest in cryptocurrencies? Share your thoughts in the comments below! 


Images courtesy of  Bitcoinist archives, Shutterstock.

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