6 ERC20 Bounties With High Rewards – 2018 Week 44 Edition

making money erc20 tokens

Making money in the cryptocurrency world without investing is certainly possible. It primarily depends on how much effort one is willing to put into doing so. Participating in bounties can be quite lucrative, as it usually involves little effort. The following 6 ERC20 tokens bounties are ripe for the taking at this time.

Yumerium

The Yumerium project wants to serve as an incentivized blockchain-based open gaming platform. Its current bounty program requires users to complete key tasks, including sharing posts on social media, a Bitcointalk signature campaign, following the team, and so forth. Separate bounties are available for posting reviews and translating important content.

MoonX

This new platform will focus on the trading of crypto assets in a decentralized manner. It is also based on a private blockchain, which can be quite interesting moving forward. The bounty program requires users to share social media posts, create new content, and partake in the Bitcointalk signature campaign.

ICOVO

The business model of ICOVO revolves around becoming the first ICO platform to implement the DAICO concept. For its bounty program, users can partake in an airdrop, create videos or other types of content that offers translation service. One can even enjoy a Bitcointalk signature campaign. Referring new users will also offer additional rewards.

Peer Mountain

Building a blockchain-based software platform to give individuals ownership of their personal data is the main driving force behind Peer Mountain. The bounty program is less vast than others, as it mainly focuses on social media sharing, translating services, a signature campaign, and reviews. Even so, it is still an option to make a bit of money on the side while completing these tasks.

Carbon Chain

The Carbon Chain tea wants to build a ledger system allowing countries to prove how they respect the carbon emission agreement enforced during the Paris agreement meeting. The project has many different bounties available, including social media activity and article writing. This latter option can reward up to $1,600, which makes it well worth checking out.

ONAM Exchange

The ONAM Exchange wants to usher in a new era of standardization in digital asset trading. It currently offers a fair few bounties, ranging from social media activity to article creation and whitepaper translation services. There are plenty of options worth checking out in this regard, depending on how much effort one wants to contribute.

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Raising Questions: How Much Have ICOs Raised this Year?

Raising Questions: How Much Have ICOs Raised this Year?

This time last year ICOs were massive news, raising funds totaling over $6 billion throughout the whole of 2017. Despite the downturn across the crypto market, ICOs have continued to grow. But ‘by how much?’ is not so straightforward to answer.


How Long is a Piece of String?

The short answer is, “It depends who you ask.

There are several organizations who collate such data, but each chooses which data to use and none agree on a figure. It could be $11 billion or it could be twice that, depending on which organization you consult.

The problem is that finding out facts can be difficult when standards of disclosure are still being improvised.

Garbage In, Garbage Out

This lack of regulation means that nobody has to file the data with the authorities. This causes discrepancies in what data-collaters consider provable, and hence included in figures.

Most trackers get their information directly from the ICO issuers, and there is no guarantee that these figures are accurate. Alex Beulau, CEO of UK-based CoinScehdule, explains:

It’s early days. The question is how can the industry create an incentive for these guys to report accurate numbers? At this point there’s no incentive.

Meet the Company Creating a Location-Based Data Market on the Blockchain

Name Your Sources

In order to corroborate data, different firms use different methods. Some use data from the blockchain to back up reported figures from credible sources. On-chain data is traceable but has the disadvantage of not recording fiat investments.

Autonomous Research collates data from underlying trackers, and manually remove questionable entries. This is an ongoing task, as Lex Sokolin, global director of finch strategy explains:

The trackers we depend on have varied over time as their quality can fluctuate, possibly because the economics of maintaining a database have weakened.

Privates On Parade

To further complicate matters, more and more token sales are now either partly or fully private. The data surrounding private sales is even more murky, which is not just bad for the trackers, but also the market.

Sasha Kamshilov, co-founder of Saint Petersburg’s ICORating concurs:

It’s really important for regular investors to know the actual price and conditions of a private sale.

As an example of how figures vary, we can look at the Dragon token, an entertainment industry payment tool. Dragon claimed that it raised $12 million in a public sale and $408 million in a private round. Coinschedule list the full $420 million claimed, ICORating gives $3.9 million, and Autonomous Research has a figure of $320 million.

So perhaps there is a straightforward answer… “Nobody’s quite sure.”

What are your thoughts on the current state of ICOs? Let us know in the comments below!


Images courtesy of Shutterstock.

The post Raising Questions: How Much Have ICOs Raised this Year? appeared first on Bitcoinist.com.

Bitcoin Cash Price Analysis: BCH/USD Remains Buy on Dips

Key Points

  • Bitcoin cash price climbed higher recently and broke the $550 resistance against the US Dollar.
  • There is a major bullish trend line formed with support at $522 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair could correct further lower, but it is likely to find bids near $520 in the near term.

Bitcoin cash price rallied recently above $500 against the US Dollar. BCH/USD is now in an uptrend and dips remain supported on the downside.

Bitcoin Cash Price Analysis

In the weekly analysis, we discussed the chances of bitcoin cash price surpassing the $500 barrier against the US Dollar. The BCH/USD pair did trade higher and broke many resistances near the $550 level. It traded close to the $600 level and formed a high at $589. Later, the price started a downside correction and declined below $560. There was a break below the 23.6% Fib retracement level of the recent wave from the $456 low to $489 high.

However, there are many supports on the downside near $520. More importantly, there is a major bullish trend line formed with support at $522 on the hourly chart of the BCH/USD pair. The trend line is close to the 50% Fib retracement level of the recent wave from the $456 low to $489 high. Therefore, if the pair continues to move down, it is likely to find bids near $520 in the near term. If there is a break below the $520 zone, the next support is near the $500 handle.

Bitcoin Cash Price Analysis BCH Chart

Looking at the chart, BCH price is clearly placed in an uptrend above the $500 handle. In the short term, there could be corrective moves before the next rally above $560 and $580.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD moved back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is just near the 50 level.

Major Support Level – $520

Major Resistance Level – $580

The post Bitcoin Cash Price Analysis: BCH/USD Remains Buy on Dips appeared first on NewsBTC.

Go to Source
Author: Aayush Jindal

Bitcoin Cash Price Analysis: BCH/USD Remains Buy on Dips

Key Points

  • Bitcoin cash price climbed higher recently and broke the $550 resistance against the US Dollar.
  • There is a major bullish trend line formed with support at $522 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair could correct further lower, but it is likely to find bids near $520 in the near term.

Bitcoin cash price rallied recently above $500 against the US Dollar. BCH/USD is now in an uptrend and dips remain supported on the downside.

Bitcoin Cash Price Analysis

In the weekly analysis, we discussed the chances of bitcoin cash price surpassing the $500 barrier against the US Dollar. The BCH/USD pair did trade higher and broke many resistances near the $550 level. It traded close to the $600 level and formed a high at $589. Later, the price started a downside correction and declined below $560. There was a break below the 23.6% Fib retracement level of the recent wave from the $456 low to $489 high.

However, there are many supports on the downside near $520. More importantly, there is a major bullish trend line formed with support at $522 on the hourly chart of the BCH/USD pair. The trend line is close to the 50% Fib retracement level of the recent wave from the $456 low to $489 high. Therefore, if the pair continues to move down, it is likely to find bids near $520 in the near term. If there is a break below the $520 zone, the next support is near the $500 handle.

Bitcoin Cash Price Analysis BCH Chart

Looking at the chart, BCH price is clearly placed in an uptrend above the $500 handle. In the short term, there could be corrective moves before the next rally above $560 and $580.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD moved back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is just near the 50 level.

Major Support Level – $520

Major Resistance Level – $580

The post Bitcoin Cash Price Analysis: BCH/USD Remains Buy on Dips appeared first on NewsBTC.

Lawsuit Filed Against Rapper T.I. for Participation in Alleged Cryptocurrency Scam

According to reports, a group of 25 investors have filed a lawsuit against T.I. and a businessman for their involvement in a fraudulent cryptocurrency scheme.


Rapper T.I. and businessman Ryan Felton now face a lawsuit from a collective of 25 investors who said the duo peddled a digital currency that was a get-rich-quick scheme.

According to TMZ, the rapper and businessman came up with a virtual currency called FLiK Token in August 2017.

Investors said they were convinced to pour $1.3 million into the cryptocurrency, with a token price of six cents each.

Felton reportedly told investors the virtual currency would have a price of $14.99 within 15 months.

Multiple plaintiffs said the token price jumped from 6 to 21 cents, but crashed downward to less than a penny each by August 2018.

An Elaborate Scheme

The lawsuit suggested the two boosted the token price with investor cash.

When asked about why the value plummeted, Felton reportedly said the decrease came after T.I. gave tokens to family and friends, who then sold them in mass amounts.

Investors said Felton hyped up the offering by claiming big investors were behind the token, and allegedly hinted billionaire Mark Cuban was getting involved.

Felton is also accused of creating a new company that acquired FLiK, and then denied being associated with it.

Actor Kevin Hart promoted FLiK on social media, but he is not involved in the lawsuit, which is seeking at least $5 million from T.I. and Felton.

Cryptocurrency a Popular Topic For Rappers

Cryptocurrencies, for better or for worse, seem to have found a home inside of the rap community.

Back in February, rapper ‘Nipsey Hussle’ expressed great promise for cryptocurrency and blockchain. He said the “real boom” would take place once retail “accepts it as a form of payment.”

The rapper, who started investing in Bitcoin back in 2013, compared blockchain to the internet in terms of its revolutionary status in the technology field.

Soujla Boy expressed his love for cryptocurrencies on his new album “Young Drako,” and titled one of the tracks “Bitcoin.” In the song, he indicated he has Bitcoin and Litecoin, virtual currencies that are “my favorite ones.”

Soulja Boy

Another rapper, ‘The Game,’ has not had as much luck when it comes to the world of cryptocurrency.

Bitcoinist reported in September how his backed project, Paragon, had lost 96% of its market capitalization.

The idea of the project was to utilize blockchain to hash out legality issues related to cannabis in the United States.

What do you think about the lawsuit involving T.I.? Let us know in the comments!


Images courtesy of Twitter (@Tip), Bitcoinist archives 

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Altcoins Price Analysis: LTC/USD Top Performer as XLM Inch Higher

The altcoin market is back to green with LTC/USD adding six percent in the last 24 hours. At the same time, Stellar trade volumes are quite high as the market remain expectant of a probable listing at CoinBase after BAT expected support. All in all, we expect gains to continue throughout this week.

Let’s have a look at these charts:

EOS Price Analysis

EOS/USD Price Analysis

It seems like the events around Bitcoin Cash software upgrade is lifting prices across the board. From the charts, EOS is up roughly three percent in the last day and poised to edge higher after horizontal range mode of the last 18 days or so. Though prices are still held within the bullish and high-volume Oct 15 bar, the simple fact that losses of Oct 29 have been reversed speak tones about the underlying momentum. It’s for this reason that we recommend aggressive type of traders to ramp up at spot rates with first targets at $7. Complementing stops should be equally tight at Oct 15 lows at $5.

LTC/USD Price Analysis

LTC/USD Price Analysis

Boom! LTC/USD pair is the second top performer in the top 10 after surging six percent in the last day confirming our previous trade plan. Because of the high market participation and the comprehensive reversal of Oct 29 losses, it’s highly likely that the minor resistance trend line connecting the last two months high would be broken. Besides, LTC/USD bulls will surge recouping Oct 11 losses. As such, we suggest buys at spot with stops at $50 and first bull target would be at $70.

XLM/USD Price Analysis

XLM/USD Price Analysis

All things constant, XLM/USD is poised for higher highs thanks to their rather stellar performance over the weekend. After Friday’s super gains strengthening bulls, price confirmations are encouraging. But, still 25 cents price tag is important and we must first see strong gains above this mid-range resistance and buy trigger line. From there aggressive traders should buy on dips or at spot with stops at 22 cents and first targets at 30 cents and later 50 cents.

TRX/USD Price Analysis

It appears as if the revival of the crypto market is boosting the number of transactions within the Tron platform. According to Justin Sun, the founder of the platform and a crypto celebrity, TRX related transactions printed 990k transactions on Nov 2 which is double that of Ethereum. At the same time TronDice has so far paid out 200 million of TRX—approximately $4 million.

TRX/USD Price Analysis

On to the chart and TRX/USD is trending inside a rising wedge. Following the last day gains we now have a three-bar bull reversal pattern, the morning star printing from around the support trend line rejecting attempts of lower lows meant to confirm Oct 11 huge losses. In any case, we need to see a confirmation of these gains and today should edge higher. Should it print today then we suggest small size buys with first targets at 3 cents and later 4 cents. However, risk-averse, conservative traders need to see rallies above 3 cents or 4 cents before buying.

ADA/USD Price Analysis

ADA/USD Price Analysis

Two things are clear: first, we have a spike in market participation supportive of buyers and the result is a break above resistance trend line. Secondly, ADA/USD is bouncing off 7 cents cementing our last price forecast. Now, because of yesterday’s price expansion, we recommend aggressive traders to buy at spot with stops at 7 cents and first targets at 9.5 cents and later 12 cents. On a more conservative approach, traders need to wait for gains above 9.5 cents or Oct 15 highs before buying. Thereafter first targets will be at 12 cents where breakouts will see rallies towards 20 cents.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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BTC/USD Price Analysis: Fate of Nine Bitcoin ETFs to Be Decided After Today

Encouragingly, the market is bullish and Bitcoin is up printing a three-bar reversal pattern as participants reject lower lows. We expect the recovery to continue this week as the SEC is set to announce the fate of nine Bitcoin ETF as the commenting period concludes today. Should these proposals be compliant with SEC stringent requirements then BTC/USD price could erupt above $7,200 closing the year on a high.

Latest Bitcoin News

Endorsement by the US SEC is always a boost for any crypto asset. Any unfavorable assessment or comment in a bad light can quickly mean the asset is a security. That’s undesirable and extra work for investors who must file tax returns whenever they make crypto transactions. That is extra work that prevent direct investment. The question in everybody’s mind right now is news about Bitcoin ETF whose comment date ends today.

Up until now the SEC has been adamant, denying the roll out of nine Bitcoin ETF from Direxion, Proshares and GraniteShares. Apparently, we have come to learn that the rejection was because of the SEC commissioners delegating these tasks to their staff. They did recall and ordered comments from interest parties to be made by Nov 5-which is today. From there on, we expect the SEC to make their decision but the exact time remain tentative.

Earlier, it was widely reported that the SEC would qualify VanEx SolidX Bitcoin ETF after a “successful” meeting between representatives of the VanEx, CBoE and some SEC commissioners. Hopefully, they make a favorable decision and allow firms that meet their stringent listing requirements a go-ahead injecting the market with the much-needed momentum.

BTC/USD Price Analysis

Weekly Chart

BTC/USD Price Analysis

The recovery of the BTC/USD is an indication of a bottoming crypto market. Considering the +75 percent drop this year, odds are we may see a recovery this quarter. Aside from technical factors, the simmering trade war between the US and China could trigger capital flights from the stock market to Bitcoin which is borderless. As such, last week’s 0.2 percent gain could increase as prices bounce off from the $6,000 support line and building on the bull pin bar of last week. In line with our last BTC/USD price analysis, it would be ideal if prices thrust past the resistance trend line connecting the last nine months highs and print above $7,000–$7,200 buy trigger line. Thereafter, first targets would be $8,500 and later $10,000.

Daily Chart

BTC/USD Price Analysis

Technically, BTC/USD pair is trading within a bear break out pattern following Oct 29 price action. But, after yesterday’s rapid gains, we now have a three-bar, bull reversal pattern. Besides, our last BTC/USD plan will most likely be null after today. Regardless of the greens, we recommend patience until we see gains above $7,000 resistance level. Then, the trend would be clear and price action would be trading above a key resistance level at the back of high reversal volume.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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Dash Launches Text-Based Crypto Payment Service in Venezuela

Crypto project Dash has announced the launch of Dash Text, an SMS-based cryptocurrency transaction service for Venezuelan users, as it builds on its already strong presence in the crypto dependent country. In an announcement released this week, the company said that Dash Text eliminates the need for Venezuelan users to possess smartphones and internet access

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The Week That Was: Tether’s Controversy Rolls On, Bitcoin Turns 10, Coinbase Predicts $1.3 Billion In Revenue

cryptocurrency week in review

It was a landmark week for the cryptocurrency industry as the king of cryptos marked ten years since Satoshi Nakamoto released the Bitcoin whitepaper. Bitcoin turned 10 on October 31, but there was little to celebrate as the crypto shed close to $200 just a day before its 10-year anniversary. This hasn’t stopped the industry from making major moves, with the South Korean investment firm, NXC kicking off the week by acquiring a controlling stake in Europe’s largest crypto exchange, Bitstamp. The week also saw Coinbase raise $300 million at an $8 billion valuation, Bittrex moved to Malta, Ledger opened an office in Hong Kong to target the Asian market, with the controversial Tether announcing a new banking partner.

The Week That Was

The week began with the acquisition of Europe’s largest crypto exchange, Bitstamp, by South Korean tech investment firm, NXC. NXC made the acquisition through its Belgian subsidiary, NXMH. It was the second such acquisition, with the $11 billion-worth NXC having acquired South Korean crypto exchange Korbit in September last year.

The week also saw more international companies launch blockchain and crypto projects as interest in the industry continued to grow. One of these is Indian payments services provider Hitachi which partnered with the State Bank of India (SBI) to launch a digital payments platform. SBI is India’s largest bank, serving over 420 million clients. Japanese IT giant Fujitsu also announced that it would launch a blockchain settlement platform in conjunction with nine Japanese banks. The world’s largest diamond mining firm, Alrosa, is also exploring blockchain technology after becoming a member of Tracr, a blockchain platform spearheaded by De Beers.

Coinbase was on the news once again, with a blog post announcing that the exchange had closed a round of funding that brought in $300 million. The funding round, which was led by Tiger Global and Andreessen Horowitz, valued the San Francisco-based exchange at an incredible $8 billion. In the same week, a report emerged indicating that the exchange expected to rake in $1.3 billion in revenues this year despite the bearish market. The estimate sees the company – whose COO denied reports indicating an impending IPO – perform even better than last year when cryptos were at record highs.

The second-largest stock exchange globally, Nasdaq, was also on the news after it announced that it would seek to help the crypto industry fight fraud through its cutting-edge market monitoring technology. Used in hundreds of markets across the world, Nasdaq’s technology monitors for wash trading, spoofing and other market manipulation tactics. In partnership with Microsoft, Nasdaq will also integrate its Financial Framework technology with Microsoft’s Azure Blockchain technology to develop “a ledger agnostic blockchain capability that supports a multi-ledger strategy.”

The ever-controversial Tether was on the news as well, this time announcing a new banking partner. In a statement released on November 1, the company revealed that it had found a new banking partner; Bahamas-based Deltec Bank. In a letter attached to the statement, Tether also revealed that all its USDT coins were backed by dollars in reserve. However, as revealed by Bloomberg, the bank declined to comment on the issue, further making the statement by Tether more suspicious. The bank’s spokesperson, Melanie Hutcheson, was reportedly reached by phone but declined to confirm or deny whether the links to Tether were legitimate.

The post The Week That Was: Tether’s Controversy Rolls On, Bitcoin Turns 10, Coinbase Predicts $1.3 Billion In Revenue appeared first on NullTX.

Miners Have Begun Using Asicboost on the Bitcoin Cash Network

On Oct. 22, Bitmain released new firmware for the company’s Antminer mining rigs that enables the use of an optimization known as (overt) version-rolling Asicboost. Since then, Bitcoin Cash mining pools have been using the protocol and 63 Asicboost blocks were mined last week on the network.

Also read: Developers Launch BDIP: A Bitcoin Cash Proposal Process for Decentralized Apps

Six BCH Pools Are Mining Bitcoin Cash With Overt Asicboost Technology

The Asicboost optimization has been steadily making its way into the mining industry and now the protocol is being used on the Bitcoin Cash (BCH) chain. So far six mining pools are using the version-rolling Asicboost technology to mine BCH blocks. The operations currently using Asicboost on the BCH chain comprise Antpool, BTC.com, Okminer, Prohashing, Viabtc, and an unknown pool. According to the data website Asicboost.dance, since the Oct. 22 firmware release, both BTC and BCH blocks have seen a significant spike in Asicboost usage. The creator of the data website has built another portal called Cash.asicboost.dance, which measures the metrics of Asicboost used on the BCH network.

Miners Have Begun Using Asicboost on the Bitcoin Cash Network
The use of Asicboost technology on the Bitcoin Cash network covers over 6% of the global hashrate.

Asicboost was once controversial because some individuals assumed the technology was being used covertly. Now that mining operations are overtly using the technology, a slew of mining pools have adopted the protocol in order to improve efficiency. This is because Asicboost can speed up the mining process by a factor of approximately 20 percent by reducing the gate count on mining chips. Essentially, the protocol is also applicable to all types of ASIC chips according to the whitepaper written by Dr. Timo Hanke. Initially, the use of Asicboost had occurred solely on the BTC chain and last week there were 111 version-rolled blocked mined on the BTC network. This accounts for 11 percent of the BTC hashrate and 5.87 exahash per sec (EH/s).

Miners Have Begun Using Asicboost on the Bitcoin Cash Network
Bitcoin Cash (BCH) network hashrate (5.1 EH/s) and Bitcoin Core (BTC) network hashrate (41.4 EH/s) on Nov. 4, 2018.

Asicboost Accounts for Over 6% of Total Hashrate

Bitcoin Cash miners are slowly starting to increase usage of the protocol and last week there were 63 version-rolled Asicboost blocks mined on the BCH chain according to the Cash.asicboost.dance website. This means that on the BCH network mining pools have processed 0.23 EH/s or 6.25 percent of the overall hashrate. The pool processing the largest share of Asicboost blocks on the Bitcoin Cash network is Okminer, a mining operation that currently commands roughly 10.3 percent of the global BCH hashrate. The lead held by Okminer is followed by Bitmain’s Antpool and then the mining operation BTC.com.

Miners Have Begun Using Asicboost on the Bitcoin Cash Network
Due to the increase in BCH values, it is more profitable to mine on the Bitcoin Cash chain this weekend.

Overall, the BCH hashrate has increased, but no significant hashrate spikes have been seen since Asicboost started being steadily used on the BCH chain. The hashrate increase is likely correlated with bitcoin cash markets jumping in value, making it more profitable to mine BCH over BTC. On Sunday Nov. 4., it is 4.6 percent more profitable to mine bitcoin cash than bitcoin core. This weekend, as the price of BCH increased, Asicboost came awfully close to touching 7 percent, reaching its all-time high since the mining protocol began being measured on the BCH network.    

What do you think about Asicboost being used on the Bitcoin Cash network? Let us know what you think about this subject in the comments section below.


Images via Shutterstock, Cash.asicboost.dance, Fork.lol, and Coin Dance Cash


Want to create your own secure cold storage paper wallet? Check our tools section.

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Dash Price Climbs 13% as Tether Boosts Volume & Payment Service Launches

Dash on Sunday surged as much as 13 percent against the US Dollar as supposed stablecoin tether (USDT) lost over 4 percent of its value. The DASH/USD pair closed yesterday at 155.90-fiat while continuing to its slow upside momentum. Today’s Asian session witnessed the pair erasing its recent gains and forming intraday lows towards 152.78-fiat.

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Bank of America Has the Most Blockchain Patents, But Is It Actually Going to Use Them?

Bank of America leads in the blockchain patent race

On October 30, Bank of America (BofA) added yet another cryptocurrency-related patent to its collection of more than 50 applications filed within the same field.

The second-largest bank in the US has been leading in the informal blockchain patent race, sidestepping such players as IBM and Alibaba. However, that does not mean that BofA is being bullish — the company has been publicly criticizing cryptocurrencies, relying on patents mostly to appear progressive in the fintech community.

Brief history of BofA’s filing crypto-related patents

The bank filed its first blockchain-related patent back in March 2014, and it was published by the U.S. Patent and Trademark Office (USPTO) — the agency that awards copyrights on inventions in the country — in September 2015.  Dubbed “Wire Transfers Using Cryptocurrency,” it didn’t mention the word “blockchain” per se, but described a system where funds are sent between accounts using cryptocurrencies’ underlying technology.

It appeared to be the first crypto-related application from a major retail bank in the U.S., and possibly worldwide. It does not seem particularly surprising that BofA was the first among its kind to claim such a patent, given that it was also one of the first banks to initiate coverage of Bitcoin in 2013, when it published a report compiled by strategists David Woo, Ian Gordon and Vadim Iaralov. Entitled “Bitcoin: a first assessment,” the paper argued:

“Bitcoin could become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money-transfer providers. As a medium of exchange, Bitcoin has clear potential for growth.”

In September 2015, the same month BofA was awarded with a crypto-related patent, the financial institution joined R3, a consortium of over 200 members, including various banks, trade associations, and fintech companies, who work towards developing blockchain solutions.

Thus, starting with the “Wire Transfers Using Cryptocurrency” entry, blockchain-oriented patents have been piling up for BofA. In December 2015, the USPTO published ten new entries filed by the bank in July 2014, all of which mentioned the word “cryptocurrency” in the title, and referred to various systems, such as “Offline Vault Storage System,” “Online Vault Storage System,” etc.

The following month, in January 2016, the bank revealed it was preparing to send 20 more blockchain-oriented patent applications to the USPTO office. In an interview with CNBC, Chief operations and technology officer at BofA, Catherine Bessant said:

“As a technologist, the technology is fascinating. We have tried to stay on the forefront. I think we have somewhere around 15 patents, most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space.”

Eventually, BofA secured the first place in an unofficial patent race — by June 2018, the institution held around 45 live patents (meaning that they are active and have not expired), the largest amount among all companies, according to research from Marc Kaufman, an attorney co-chairing the Blockchain Intellectual Property Council at the U.S. Chamber of Digital Commerce. The U.S. bank bypassed such technology-oriented players as IBM and Alibaba, not to mention its direct competitors — Royal Bank of Canada (RBoC) was the second among all banks, holding only eight patents.  

‘Important to reserve our spot’: BofA’s complicated relationship with crypto-technology

BofA’s efforts in the blockchain domain do not necessarily mean that the company will develop actual products. Nor does it mean that the company is being bullish in regards to all things crypto. Quite oppositely, the U.S. bank has clearly prioritized having a registered technology over actually using it.

In 2016, Catherine Bessant told CNBC that having blockchain-related patents is “very important [...] to reserve our spot even before we know what the commercial application might be.” On the CB Insights, Future of Fintech event, in New York in June of this year, she reterieted that comment:

“We’ve got under 50 patents in the blockchain/distributed ledger space [...] While we’ve not found large-scale opportunities, we want to be ahead of it, we want to be prepared.”

Notably, those endeavors didn’t prevent the 113-year-old bank from calling Bitcoin “troubling” and uplifting its decision to ban customers from purchasing crypto with their credit cards. Moreover, in its annual report published in February, BofA admitted that cryptocurrencies are a threat to its business model, stating:

“Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.”

In August 2018, Michael Wuehler, a blockchain specialist at ConsenSys, who previously worked at BofA for more than 11 years, as per his LinkedIn profile, took to Twitter to announce that while his name is listed on “8 of 50” BofA blockchain patents as an inventor, they are “meaningless” from his perspective. Wuehler argued that the patents were filed to attract press coverage and make the bank appear progressive in the fintech space.

Indeed, having a fintech patent does not necessarily imply it will be used in the future. A blockchain patent, like any other patent, is a set of exclusive rights issued by an official authority — a sovereign state or intergovernmental organization — that an inventor or assignee gets in exchange for revealing their invention to the public.

As Bloomberg explains, business-wise blockchain patents “are an essential ingredient for companies looking to reshape the financial services industry or spawn profitable cryptocurrency-related businesses.” Essentially, patents help companies attract investment, protect property rights and collect monopoly profits from other companies using their inventions — and that could be the case with BofA.

BofA’s latest patent filings: from private keys storage to cryptocurrency exchange system

Here are some details of BofA’s blockchain efforts published by the USPTO within the past year. That should provide a clearer picture of how the bank plans on using the technology, at least hypothetically:

Private keys

BofA’s most recent cryptocurrency-related patent award, which was confirmed on October 30, references storage methods for private keys.

Specifically, the filing reads, current opportunities for ensuring private keys remain untampered with are insufficient.

“While many […] devices may provide for acquiring evidence of a security breach (i.e., physical or non-physical tampering with the device and/or the data), such devices do not provide for real-time response to such breaches, such that misappropriation of private cryptography keys is prevented.

“Therefore, a need exists for a secure means for storing private cryptography keys. The desired storage means should reduce the risk of misappropriation of keys due to the keys being stored internally within a computing node that is frequently or, in some instances, continuously accessible via a public communication network, such as the Internet.”

Multiple digital signatures

On September 18, the USPTO shared a BofA patent for adapting multiple digital signatures in a distributed network.

The patent proposes a system for managing data communication from internet-connected devices. The document underlines that “the invention provides automated determination of which devices are communicating to which third-party entities and, in some embodiments, the type of data being communicated to such third-party entities.”

BofA’s proposed system addresses devices within an Internet of Things (IoT) environment, describing how each of devices within the network will communicate data with each other “on an ongoing basis,” while the system would allow a user to “select to prohibit (i.e., block) or limit which data is communicated to which third-party entities.”

External validation

In July, the USPTO published the bank’s patent for a blockchain-based system allowing the external validation of data.

Thus, BofA’s filing proposes using blockchain for tracking resource information and confirming resource transfers, arguing that “a need currently exists for providing a more accurate indication of a user's financial standing by allowing external validation of data in a process data network.”

The patent describes how the system would record information on the blockchain based on “aggregated information associated with past transfer of resources executed by an entity,” and would update the information on the blockchain with each new transaction activity.

Data storage

In April, the bank’s application for a patent on a blockchain-based storage system with automated data authentication was unveiled. The document was originally filed in October 2016.

In the document, the BofA author describes a blockchain-powered system for authenticating data and providing secured access of said data to service providers. The patent addresses the problem of data transferring and tracking, which it says can be resolved by means of cryptographic keys in a private blockchain:

“Embodiments of the invention utilize a private blockchain to store various types of records to be conveyed to the service providers. In this way, the individual or entity may securely store on the blockchain all records relevant to service providers, then provide the service providers with secured access to said records such that the providers may access only the specific records for which they are authorized, e.g. a healthcare provider may access only the healthcare records on the blockchain.”

The author also outlines disadvantages of conventional methods of records sharing and keeping, such as e-mail attachments, claiming they are sensitive to tampering as “they lack a built-in mechanism for authenticating records.” A blockchain-based system, in turn, would represent an efficient, secure and reliable way to store records and only provide access to authorized parties, the patent concludes.

Cryptocurrency exchange system

In December 2017, BofA was awarded with a patent that outlines a digital currency exchange system. As per the document, the system will allow the conversion of one digital currency into another automatically, with the exchange rate to be determined based on external data feeds.

Under the patent application, the proposed system would gather data from external information sources on the current virtual currency exchange rates and utilize the data to calculate its own optimal rate. Specifically, the filing reads:

"Enterprises may handle a large number of financial transactions on a daily basis. As technology advances, financial transactions involving cryptocurrency have become more common. For some enterprises, it may be desirable to exchange currencies and cryptocurrencies."

Interview: Researcher Argues EOS isn’t a Blockchain — Just a Distributed Database

Blockchain testing and research company Whiteblock Inc. has released a damning verdict on EOS, describing it as a “distributed homogeneous database” masquerading as a blockchain. In a report titled “EOS: An Architectural, Performance and Economic Analysis,” the company dissects several aspects of the EOS protocol and comes to the conclusion that it suffers from a

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Taiwan Passes Law to Crack Down on Anonymous Cryptocurrency Transactions

Taiwan Passes Law to Crack Down on Anonymous Cryptocurrency Transactions

The Taiwanese government has amended its laws that regulate cryptocurrency transactions. The revisions reportedly give the country’s Financial Supervisory Commission “the authority to crack down on anonymous virtual currency transactions.”

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Amendments Passed

The Legislative Yuan, Taiwan’s highest legislative body, on Friday passed some amendments to existing laws aimed at regulating cryptocurrency transactions in the country, Focus Taiwan reported. The publication wrote:

The amendments to the Money Laundering Control Act and the Terrorism Financing Prevention Act give Taiwan’s Financial Supervisory Commission (FSC) the authority to crack down on anonymous virtual currency transactions.

Taiwan Passes Law to Crack Down on Anonymous Cryptocurrency TransactionsIn particular, “The FSC can now demand that operators of virtual currency platforms, including bitcoin, implement ‘real-name systems’ that require users to register their real names, according to the new provisions,” the news outlet detailed. Banks can now reject crypto exchanges’ transactions that are anonymous; they also have an obligation to report any suspicious transactions to the FSC, the publication added.

According to the amended provisions, non-financial enterprises that violate money laundering rules will be fined more than 50,000 yuan ($7,256) but less than 1 million yuan. In contrast, financial institutions in violation of the rules will be fined more than 500,000 yuan but less than 10 million yuan, Ettoday reported.

Taiwan’s Real-Name System

Taiwan Passes Law to Crack Down on Anonymous Cryptocurrency TransactionsBitoex, a crypto exchange which claims to have 80 percent market share in Taiwan and 300,000 members, told news.Bitcoin.com that the exchange “has implemented the real-name system as of July 2018.”

In addition, its international exchange, Bitopro, which launched early this year “also follows the real-name system when it involves fiat money deposits and withdrawals,” a representative of Bitoex elaborated, clarifying:

Identities and bank verifications are required before purchasing BTC or other cryptocurrencies with New Taiwanese dollars (NTD).

However, the representative noted that “Trading cryptocurrencies could be operated anonymously” if no fiat currency is involved. “For only cryptocurrency transactions such as receiving/transmitting or selling/trading cryptocurrencies, it is not mandatory to submit personal information to the real-name system.”

Taiwan Passes Law to Crack Down on Anonymous Cryptocurrency TransactionsBitoex offers three account levels. Level C requires only an email and a phone number to open an account. Level B needs an ID card, a passport, or a foreign resident card for verification. Level A requires personal bank account information.

The exchange also sells BTC at Family Mart convenience stores. Currently, there are 3,296 locations in Taiwan, according to the chain’s website.

The Bitoex representative explained to news.Bitcoin.com that purchasing BTC at convenience stores requires Level B, real-name verification, emphasizing that “it is not exempt from the real-name system.” The exchange noted:

The real-name system will be enforced when it comes to fiat money deposits and withdrawals.

South Korea is using a similar real-name system implemented in January. However, the country’s financial watchdog does not have the authority to enforce the real-name system on crypto exchanges, therefore adoption has been slow. Furthermore, a Korean district court recently ruled that banks cannot block transactions of crypto exchanges that are not using the real-name system.

Taiwan is also drafting regulations for initial coin offerings (ICOs). FSC chairman Wellington Koo recently revealed that the guidelines are expected to be completed by June next year.

What do you think of Taiwan implementing the real-name system? Let us know in the comments section below.


Images courtesy of Shutterstock, Wikipedia, and Bitoex.


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Paralyzed Man Walks Again Thanks to Spinal Cord Implant

spine implant

Innovations in the technology industry can often lead to genuine miracles. A paralyzed man is once again able to walk after receiving a spinal implant. Although that concept is nothing new, this is by far the most successful implant in this field of research to date.

A new era of Spinal Implants

Most people who suffer from a serious spinal cord injury will have to deal with paralysis or a loss of other motor functions for the rest of their lives. In some cases, the paralysis disappears on its own and humans regain full control over their body. For those who are not as lucky, a new spinal cord implant may effectively provide a viable alternative.

Known as epidural electrical stimulation, the new spinal cord implant allows for translation of neural messages from the brain to the spine. That in itself is rather unusual, as the physical nerves and spine are disconnected. Being able to bridge this gap is a massive breakthrough for the scientific industry as a whole.

So far, this new implant has only been tested on three different patients. One of them is capable of walking with or without the device being turned on. That shows this implant can have positive long-term effects as well, even when it’s not in active use. The other two patients will have to wait and see how their progression evolves.

Although the researchers were somewhat optimistic regarding this implant, the result surpassed everyone’s expectations. One in three subjects is walking again. The other two have regained feeling in their legs, although the future progress remains up in the air. It confirms the implant is working as advertised, even though it has only been used by a very small sample size at this time.

Being able to stimulate the spinal cord in a manner similar to the human brain is a very impressive breakthrough. Its potential use cases for this technology are nearly limitless. It may also affect the evolution of robotics and other technological ventures. Although it will primarily be used for spinal cord injury patients, there are many ways to influence the future of humanity with this concept.

What makes this implant most impressive is how it regenerates damaged nerve cells in the spine. That is why it allows one patient to take a few steps with the implant switched off. Long-term exposure to this technology will not necessarily heal the spinal cord as a whole. However, every little bit helps, and this technology seemingly checks a lot of the right boxes.

The post Paralyzed Man Walks Again Thanks to Spinal Cord Implant appeared first on NullTX.

Crypto Week In Review: Goldman Sachs Furthers Crypto Foray, Coinbase Secures Funding

Although relative non-action in crypto markets has continued, with prices stagnating en-masse, prominent institutions, such as Goldman Sachs and Tiger Global, still seem ready to pounce on what this nascent industry has to offer.

Goldman Sachs Onboards Exclusive Investors For Bitcoin Products

Per an insider scoop from The Block, Wall Street’s golden child, Goldman Sachs, recently began to onboard a “small number” of institutional clients to test the waters for Bitcoin (BTC) non-deliverable forward contracts. The vehicle, which is a futures-tied derivatives instrument, will reportedly be the first on Goldman’s rumored crypto-centric trading desk, which was first hinted at in May 2018.

Along with apparently offering the aforementioned BTC-related contracts, the multinational financial services firm is supposedly also looking into ways to provide custodial support for the crypto assets held by its clients, confirming previous reports on the matter.

Interestingly, however, the individual familiar with Goldman’s operations claimed that rumors pertaining to an Ether (ETH) futures-tied contract were inaccurate. As noted by The Block, the U.S. Commodity Futures Trading Commision (CFTC) has yet to unveil its support for Ether futures, supporting the insider claim that Goldman isn’t poised to launch a vehicle linked to the second-most popular crypto asset.

Regardless, taking this development into account, optimists have claimed that Goldman Sachs has a high likelihood of only furthering its involvement in this nascent market as time elapses, bolstering the maturation of this now-10-year-old market.

Funding Secured: Coinbase Concludes Series E Round

After weeks of rumors surrounding Coinbase’s supposedly swelling valuation, on Tuesday, the cryptocurrency upstart’s president, Asiff Hirji, finally divulged that the organization had concluded its Series E financing round.

This most recent round of funding sees the startup’s coffers add $300 million in investment capital at a valuation of $8 billion, confirming the aforementioned rumors. This equity round, which occurred amid a harsh bear market, was led by Tiger Global, with Y Combinator Continuity, Wellington Management, Andreessen Horowitz, and Polychain also throwing funds in Coinbase’s metaphorical crock pot.

With this boatload of funding, Hirji noted that Coinbase intends to accelerate its plans to expand globally, (quickly) add more digital assets, build more utility applications for this industry, and facilitate the arrival of institutions into crypto.

Wall Street’s BlackRock Hesitant To Back Bitcoin ETF, Waiting For “Legitimacy” 

Speaking at the New York Times DealBook Conference, Larry Fink, CEO of BlackRock, claimed that his firm is hesitant to offer a Bitcoin-centric exchange-traded fund (ETF). Although he didn’t seem overtly against the long-term success of blockchain technologies, Fink claimed that BlackRock is unlikely to back a crypto-based ETF due to the current illegitimacy of this nascent industry.

The leading institutional investor then noted that “ultimately,” a cryptocurrency-backed ETF would “need to be backed by a government.” However, he pointed out that a government’s support of such a fund is a near-impossibility, as Fink whipped out the classic bag of tricks enlisted by Bitcoin’s critics, citing fears of tax evasion and the like.

Furthering his anti-Bitcoin narrative, the BlackRock bigwig added that the anonymity of Bitcoin could pose a problem, stating:

“I do see one day where we could have electronic trading for a currency that could be a store of wealth… But right now the world doesn’t need a store of wealth unless you need that store of wealth for things you should not be doing.”

Interestingly, in spite of his apparent feelings of distrust and hate aimed towards the Bitcoin Network, Fink, speaking on behalf of BlackRock, claimed that he is “a huge believer in blockchain [technologies].” Commenting on optimal uses for blockchain technologies, the executive added:

“The biggest use for blockchain will be in mortgages, mortgage applications, mortgage ownership, anything that’s labored with paper.”

Fink’s views on blockchain aside, the bottom line is that BlackRock isn’t ready to launch a Bitcoin ETF, despite the hearsay that the institution briefly spoke with Coinbase regarding the matter.

Grayscale Rakes In $330 Million Amid Crypto Bear Market

Although the valuation of cryptocurrencies has collapsed by upwards of 70%, some claim that there is a definite silver lining in the crypto cloud, with Grayscale Investments releasing a positive report highlighting the performance of its business. In its most recent quarterly update, Grayscale, a subsidiary of Barry Silbert’s Digital Currency Group, noted that its clients invested $81.1 million into crypto asset products throughout Q3.

This mouth-watering sum brings the startup’s year-to-date total to $330 million, with 59% of that capital ($195 million) reportedly being sourced from the wallets of institutional investors.

Out of the $330 million invested through Grayscale’s diverse roster of instruments, 73% of funds were put through the firm’s Bitcoin Investment Trust (GBTC), indicating that BTC remains “the king,” even after its decade-long history.

Commenting on the statistics, Grayscale’s Michael Sonnenschein told CNBC Fast Money’s panel that his clients are “using this price pullback” to either dollar-average-down or to enter into crypto positions, directly alluding to the growing sentiment that worldwide adoption is in crypto’s cards, so to speak.

Crypto Tidbits

  • Coinbase Lists Basic Attention Token (BAT) On “Pro” PlatformJust weeks after launching support for 0x’s ZRX And Circle’s USDC, on Friday, San Francisco-based Coinbase divulged that it had plans to list Basic Attention Token (BAT), the digital asset of choice for the Brave Browser, on its “Pro” platform. Like Coinbase Pro’s prior listing events, the startup unveiled plans to launch BAT trading via a four-step process —  transfer-only, post-only, limit-only, and full trading. For now, BAT is not supported on Coinbase Consumer or through the fintech company’s iOS or Android applications.
  • Tether Opens Account With Caribbean Deltec BankTether Limited, the shadowed organization behind USDT, recently revealed that it had opened a bank account with Deltec Bank & Trust Limited, a 72-year-old financial institution in the tropical nation of Bahamas. This development comes just weeks after speculation raged regarding the legitimacy of Tether’s U.S. dollar reserves, which led the crypto market to value USDT, a prominent stablecoin, at 10% under its $1.00 parity. Accompanying this news was a supposed document signed by Deltec, which confirmed that the monetary value of Tether’s portfolio exceeded the number of USDT in circulation, prompting the stablecoin to recover to just shy of $1.00.
  • Japan-based Coincheck Resumes Operations After HackMonths ago, when 2018’s bear market was young, Tokyo-based Coincheck, Japan’s foremost crypto platform, fell victim to a $530 million hack, catalyzing a closure of a majority of its exchange operations. However, after presumably consulting with local regulators and rebuilding its security structure, Monex Group-backed Coincheck has finally reopened its doors, facilitating new account signups, customer deposits, and the purchase option for specific digital assets.
  • Google, Samsung, Venrock Throw $15M At Startup Behind CryptoKittiesDapper Labs, the Canadian startup behind Ethereum’s CryptoKitties, has just secured a $15 million endowment from a number of prominent venture capital funds, including Google Ventures, Samsung NEXT, and Rockefeller-backed Venrock. Dapper, a spinoff of Vancouver-based Axiom Zen, will use the $15 million garnered to launch a Los Angeles subsidiary focused on releasing other decentralized applications (DApps).
Featured Image From Shutterstock

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IBM Patents Blockchain System to Create ‘Trust’ Between AR Game Players, Real World Locations

IBM has applied for a blockchain patent aiming to deter augmented reality game players from intruding on undesirable locations.

Major global tech giant IBM has applied for another blockchain patent, this time aiming to deter augmented reality (AR) game players from intruding on undesirable locations. The tech firm’s latest patent document was released by the U.S. Patent and Trademark Office (USPTO) on Thursday, Nov. 1.

In the patent, IBM, also known as Big Blue, describes a blockchain-based method and system of interactions between a AR-running mobile device and locational database in order to set and maintain safe boundaries between AR objects and real-world physical locations. According to the document, a distributed ledger is set to continuously maintain a growing list of data records protected from forgery and alterations.

Based on a blockchain-powered location database, the “exemplary method” AR-game allows mobile devices to obtain a signal about whether a certain location on AR is undesirable. Moreover, the described system is able to modify certain AR objects that are indicated as undesirable, also displaying them on mobile devices.

In the patent, IBM provides a brief description of augmented reality, stating that such a form of gaming is tied to a location that is overlaid by images of more game items such as characters, resources, or internal game locations. By applying the new blockchain patent, IBM can provide a guarantee of “trust” between real world locations and location-based AR games.

International Business Machines Corporation, or IBM, is one of the biggest providers of blockchain-related patent technologies in the world in terms of the number of applied patents. Having filed a total of 89 blockchain patent by Aug. 31, the tech giant took second place after China’s Alibaba with 90 patent applications.

In mid-October, Cointelegraph released an analysis devoted to the history of IBM blockchain patents in a number of industries, such as logistics, Internet of Things (IoT), blockchain hardware, and others.

Bulgarian Officials Caught Accepting Bitcoin Bribes to Issue Passports

A handful of Bulgarian officials were busted accepting Bitcoin bribes for illegally issued passports.


Busted!

A trio of Bulgarian officials was recently arrested for accepting bribes in Bitcoin (BTC) 00 in exchange for issuing passports to foreign applicants. As reported by local news outlet, Nova, court documents indicate that Petar Haralampiev, the Head of Bulgarian state agency for Bulgarians’ matters abroad, General Secretary Krasimir Tomov, and Mark Stoyov are reported to have concocted 40 fake documents in exchange for somewhere between 5 and 15 bribes per week since “at least” July of 2017.

Apparently, the officials requested €5,000 in Bitcoin from citizens of Ukraine, Moldova, and Macedonia and failure to pay would result in lengthy delays to the issuance of essential, time-sensitive documents.

Where’s the Proof?

Attorneys representing the officials claim that there is not sufficient evidence connecting them to the illegally issued documents but the prosecution responded by saying “Authorities have confiscated Bitcoin wallets, which prove that some of the bribe money has been converted to cryptocurrency.”

A red flag was raised when a Ukrainian individual who has chosen to remain anonymous, had a request for documents denied, yet was quickly able to receive a Bulgarian identity after paying a bitcoin bribe. Furthermore, a man serving as the deputy director in the National Agency admitted that he was well aware of the operation for months.  

Making, selling and issuing fake passports have been a lucrative business since Bulgaria joined the European Union (EU) in 2007 and the Bulgarian government recently detained 20 people for selling the country’s passport to citizens of other Eastern European countries.

Should the Bulgarian government use blockchain to track passport applications and fees? Share your thoughts in the comments below! 


Images courtesy of Shutterstock.

The post Bulgarian Officials Caught Accepting Bitcoin Bribes to Issue Passports appeared first on Bitcoinist.com.

Triangular Arbitrage Today: XLM, BTC, MANA, DGB, NLC2, XRP

triangular arbitrage

Even though some of the cryptocurrency markets finally show some signs of life, those trends may be short-lived. Triangular arbitrage opportunities are always an interesting option to explore, although users need to do so at their own risk. The following six options are quite interesting in their own regard for today.

XLM (Kraken / CoinDCX / CoinDelta)

As is usually the case with triangular arbitrage, numerous pairs and exchanges are involved. Today allows for a cheap buying opportunity of XLM on Kraken. Converting this funds to AE on CoinDCX and selling it on CoinDelta can yield a very spectacular profit of over 14%. All of the involved platforms have rather low liquidity during weekends, though.

BCD (Binance / OKEx / CoinDelta)

When it comes to buying any currency involved in triangular arbitrage opportunities, Binance is a platform to keep an eye on. Buying BCD on OKEx and converting it to AE on Binance will allow for a big price gap when selling AE on CoinDelta. A gain of 15% is possible when timing these trades correctly.

MANA (CoinDelta / CoinDCX / Bitbns)

Users who have access to Indian Rupees may want to pay attention to the MANA market on CoinDCX. Buying this token and sending it to CoinDCX for conversion to REP will lead to some small gains. Selling those REP tokens on Bitbns will give a profit of roughly 11% compared to the money spent when buying MANA during the first step.

DGB (Cryptopia / Bitbns / CoinDelta)

Even though Digibyte still has a loyal following, its top 25 market cap aspirations have ground to an abrupt halt. Even so, the altcoin is still useful for arbitrage trading. Buying DGB on Bitbns with Indian Rupees and converting it to SPANK tokens on Cryptopia will allow for a three-way arbitrage trade. Selling the SPANK tokens on CoinDelta can yield profits of up to 21%.

BTC (Bitstamp / HitBTC / Bitfinex)

It doesn’t happen all that often triangular arbitrage involves Bitcoin, or two major exchanges. Today is a peculiar day, as buying BTC on Bitstamp with US Dollars lets users convert it to ANT on HitbTC. Selling those ANT tokens on Bitfinex will then lead to a net 15% profit with little effort. A promising opportunity, especially when looking at the currencies involved.

NLC2 (HitBTC / Cryptopia / Livecoin)

For those willing to take a small gamble, buying NLC2 on Cryptopia and converting it to Dogecoin on HitbTC is worth checking out. Especially if that DOGE funds are moved to Livecoin and sold successfully. Doing so creates a 10% triangular arbitrage profit to benefit from. All of these markets have low liquidity on the involved exchanges, though, which is something to take into account at all times.

XRP (Kraken / Huobi / WazirX)

For the last triangular arbitrage opportunity of the day, buying XRP on Kraken and converting it to POlymath on Huobi is an option well worth exploring. Selling those POLY tokens on WazirX will yield profits of up to 10%, which makes for a very interesting opportunity speculators can look into.


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

The post Triangular Arbitrage Today: XLM, BTC, MANA, DGB, NLC2, XRP appeared first on NullTX.

Second-Largest US Bank Wins Patent for Crypto Storage System

Recent times have seen banks hedging their bets or even fully integrating cryptocurrencies. The acquisition and filing of patents is how large organizations truly express their interest in a given field, and Bank of America continues to lead the way, now having secured its latest patent in the blockchain and crypto space, one for “tamper-responsive”

The post Second-Largest US Bank Wins Patent for Crypto Storage System appeared first on CCN

Second-Largest US Bank Wins Patent for Crypto Storage System

Recent times have seen banks hedging their bets or even fully integrating cryptocurrencies. The acquisition and filing of patents is how large organizations truly express their interest in a given field, and Bank of America continues to lead the way, now having secured its latest patent in the blockchain and crypto space, one for “tamper-responsive”

The post Second-Largest US Bank Wins Patent for Crypto Storage System appeared first on CCN

Crypto Arbitrage Today: DOGE, BTC, ETH, LTC, DASH, BCH

stock price

Every day in the cryptocurrency industry is filled with opportunities and arbitrage gaps. Although the weekends usually see far less trading volume, that doesn’t  mean there are no trading gaps to exploit. The following six currencies can yield some interesting profits in this regard, depending on overall exchange liquidity.

#6 Dogecoin (Poloniex / Gate / Livecoin)

There has been a growing demand for arbitraging Dogecoin over the past few weeks. As this currency remains rather relevant, it is only normal small price gaps become apparent. Today, buying DOGE on Poloniex or Gate.io and selling it on either YoBit or Livecoin can yield profits of up to 3% with little effort.

#5 Bitcoin Cash (Binance / Kraken / Livecoin)

For the second day in a row, there is a very peculiar arbitrage opportunity involving Bitcoin Cash. Its value on YoBit and Livecoin is higher compared to all major exchanges. As such, buying BCH on Binance, Kraken, or KUCoin and reselling on the smaller exchanges will yield up to 2.2% profit.

#4 Ethereum (YoBit / Livecoin/ Bittrex)

The same situation visible for Bitcoin Cash applies to Ethereum at this time. A major arbitrage option is available for those buying on Bittrex, Bitfinex, Binance, Kraken, BTCTurk, or Koineks. Prices on YoBit are a lot higher, although Livecoin is also an option worth checking out for a quick flip and associated profits.

#3 Bitcoin (Gate / Poloniex / Livecoin)

It is somewhat unusual to find Bitcoin arbitrage opportunities involving smaller exchanges. Buying BTC on Poloniex or Gate.io and selling on either Livecoin or YoBit can result in a profit of up to 2.7%. That is quite a nice profit, especially given Bitcoin’s valuation compared to all other cryptocurrencies.

#2 Litecoin (Sistemkoin / Bitstamp / YoBit)

It is somewhat odd to see a large gap for Litecoin involving both Sistemkoin and Bitstamp. Both exchanges seemingly have a much lower price compared to YoBit, making for an easy 2% arbitrage gap waiting to be taken advantage of. One also has to wonder how YoBit will sustain itself with these big gaps, but that is a completely different discussion.

#1 Dash (Koineks / Cex / YoBit)

For those looking for a slightly riskier arbitrage option, buying Dash on Bittrex, Kraken, HitBTC, Poloniex, Sistemkoin, or Koineks is a good idea. Especially if the funds are then sold on YoBit, as the arbitrage gaps range between 1.5% and 2.5% depending on where the initial purchase was made. Dash is a far less liquid market in general, though.

All information is provided by ArbingTool.


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

The post Crypto Arbitrage Today: DOGE, BTC, ETH, LTC, DASH, BCH appeared first on NullTX.

Lawyer Invests $300 Million to Build Crypto City in the Nevada Desert

Lawyer Invests $300 Million to Build Crypto City in the Nevada Desert

Consumer protection lawyer Jeffrey Berns is the owner and CEO of Blockchains LLC, a company that bought more than 67,000 acres of land in northern Nevada for $170 million earlier this year. On Thursday, he revealed plans to build a crypto city in the desert, claiming to have invested $300 million to make it a reality.

Also Read: Bitcoin Trader Faces Five Years in US Jail for Unlicensed Money Transmitting Business

Welcome to Sandbox City

Lawyer Invests $300 Million to Build Crypto City in the Nevada DesertBerns, who focused primarily on class action suits against big financial services companies during his law career, reportedly made a fortune by investing in Ethereum in 2015. Now he wants to give back to the crypto community and leave his mark on the world by establishing Sandbox City.

The sprawling complex is meant to be a model for running a smart city with a decentralized blockchain infrastructure powering all interactions. It will house a high-tech park for ventures combining blockchain technology with artificial intelligence (AI), 3D printing and nanotechnology. The planned city will include residential units for thousands of people to live in, alongside shops for commerce. The area will also host an esports arena and a studio for creating music, movies and games.

A Friendly Bank and Nuclear Bunkers

Lawyer Invests $300 Million to Build Crypto City in the Nevada DesertBesides giving developers a place to gather, and investors an attractive tax location, Blockchains LLC has a few more offers for the industry.

According to the launch event speech by the CEO, he bought two decommissioned military bunkers in different parts of the United States in order to offer secure physical digital asset storage. For storage outside the U.S., the company also acquired a “fortress” under a granite mountain in Switzerland, and one in Sweden.

Berns also said he bought a bank that he promises to make the most friendly fiat banking solution for the cryptocurrency ecosystem. He explained that he decided to take this move when his own bank blocked all his cards after he outed himself as a Coinbase customer in order to fight in court against the IRS demand for the exchange to hand over all client data.

The company has also signed a Memorandum of Understanding with Nevada’s electricity public utility, NV Energy, agreeing to work together on energy projects powered by blockchain technology.

Does cryptocurrency technology development require a dedicated city? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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Bitcoin Price Intraday Analysis: BTC/USD in Tether-Linked Breakout Action

Bitcoin on Sunday jumped 2.13 percent against the US Dollar as USD-pegged cryptocurrency tether (USDT) resumed its implosion. BTC/USD was in a sideways sentiment for most of the weekend trading session. The bearish trendline has capped the upside bias on multiple occasions. Nevertheless, the pair — from the past 8 hou rs to the time

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Rapper T.I. Sued Over Involvement in ICO Exit Scam

ti rapper

When celebrities get involved in cryptocurrency, things usually do not end all that well. Various ICOs have been endorsed by celebs, which has backfired every single time. In the case of rapper T.I., his own token offering failed. He now faces a $5m lawsuit for trying to dabble in the world of crypto assets.

T.I. Faces a Massive Lawsuit

Messing with cryptocurrencies is something a lot of rappers are drawn to, for some strange reason. In most cases, they will make songs about it, or even endorse an initial coin offering here and there. For T.I. however, things got to a whole new level. Creating a native initial coin offering and selling it to investors has not yielded the expected results by any means.

Recently released court documents show the rapper’s token failed to meet expectation. A group of 5 individual investors banded together to sue the rapper after his FLiK tokens became virtually worthless. Moreover, they also claim T.I. knowingly issued a security token, rather than a utility token. As such, they seek $5m in damages for the issues caused by the artist.

More specifically, it would appear T.I officially endorsed the initial coin offering’s token across social media to make it seem more legitimate and valuable. As has become apparent in the cryptocurrency world, celebrity endorsements do not make for a worthwhile project. Centra is a very good example in this regard. It received sufficient endorsement yet ultimately crumbled very quickly.

Moreover, the rapper and his business associate are charged with using the ICO funds to drive up token prices even further and dumping them on the open market shortly afterward. Proving such blatant price manipulation may not be all that easy by any means. The FLiK company was also acquired shortly after the ICO, but allegedly by a shell company created by the business partner.

For the time being, it remains unclear if any of the other promoters will face repercussions because of their involvement in FliK. The token was endorsed by Kevin Hart in late 2017, although his name has not been mentioned in any of the court documents to date. This is another example of why celebrity endorsements of ICOs should be scrutinized, if not avoided altogether.

The initial coin offering industry has plenty of issues to contend with on its own. Especially now that the SEC cracks down on alleged security offerings, things become a lot tenser. Slowly but surely the scam projects are being weeded out. It appears FLiK falls into this category, although the official investigation is still ongoing at this time.

The post Rapper T.I. Sued Over Involvement in ICO Exit Scam appeared first on NullTX.