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Malta: The World’s First Blockchain Island

By Chelsea Roh

Malta blockchain island

The European island of Malta, just below Italy and above Africa, is quickly becoming the world’s first blockchain powered island. For the past few months, there have been numerous reports of major blockchain companies and crypto exchanges setting up shop in Malta—but why, why a Malta blockchain island? Opportunity cost.

Maltese Government

The Government of Malta has recognized blockchain as the technology of the future and now wants the tech to be the central part of its economy. The island has been recently deemed one of the best countries to relocate and start new companies surrounding ...

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What Is the 0x Portal?

By JP Buntinx

The 0x protocol is designed to revolutionize cryptocurrency trading and tokenization. A fair few projects already make use of this technology, although it can be very difficult to find out about such projects. The 0x Portal has therefore been designed to highlight the various relayers which facilitate ERC20 token trading.

The 0x Portal Has Arrived

Facilitating ERC20 token trading in a frictionless manner is not all that straightforward. It is evident there are many ways of doing so, and new technologies have come to market to facilitate this process. The 0x protocol, for example, plays a big role. It allows anyone to become a relayer for ERC20 token trading, which opens up a lot of new business opportunities.

To bring some more positive attention to the relayers making all this possible, the 0x team has set up a dedicated portal. It is designed to overcome some major UX challenges associated with onboarding new users of decentralized applications. Despite major growth in the DApp industry, most users are still not too certain how to access these new features. Solving that problem will take a lot of time and effort, although this new portal might make good things happen.

The 0x Portal is a DApp itself, though a relatively straightforward one. It offers a lot of information on how relayers can benefit from the 0x protocol. Those relayers can gain more exposure in the hopes of attracting new users. There’s also an educational section to get consumers and investors more familiar with the concept of 0x relayers.

The 0x team is confident that the current number of relayers is only a fraction of what it will be in a year or two. With more and more ERC20 tokens coming to market, the demand for decentralized trading will only increase further. More relayers means more liquidity and exposure to mainstream consumers. For the cryptocurrency industry, it is a more than welcome development, especially after the rough first half of 2018.

Directly interfacing with the Ethereum blockchain is anything but straightforward for the average consumer. It requires a very different UX mindset, and the 0x Portal is designed to facilitate this process. Teaching users what they need to know and offering convenient tools to make the most of it will spur widespread adoption of 0x and its dozens of relayers.

Users need only complete three simple steps to gain access to all current and future 0x relayers. This is very different from dealing with centralized exchanges, which are far more cumbersome to use. Convenient and easy access to liquidity is always preferred, even though the relayers may not carry the kind of volume which most centralized exchanges bring to the table right now.

Augur Prediction Market Confirms First $20K in Bets Have Paid Out

By Jonathan Kim

One of the most complex DApps to run on the Ethereum blockchain, Augur, is a decentralized prediction market enabling users to bet on almost anything. On July 18, 2018, Augur announced on Twitter that the first market on its platform confirmed $20K in payouts to users.

World Cup Bets Pay Out $20K

Three years after its $5.5 million ICO, Augur has proved to be a functional prediction market controlled and operated solely by its users. Taking to Twitter, Augur announced its milestone and confirmed user pay-outs,

The first markets have successfully resolved on Augur!

— Augur (@AugurProject) July 19, 2018

A peer-to-peer platform, Augur allows anyone to pose virtually any question for other users to bet on, ranging from the outcome of upcoming elections to weather predictions and natural disasters.

After going live on the Ethereum network in mid-July, Augur settled its first markets – the most valuable being the outcome of the France-Belgium World Cup semifinal game. After France won, those who voted correctly and bet on the prediction market were paid out in ether.

Augur uses ether and its REP tokens to stake bets and incentivize users to report correct outcomes. Users lose their REP tokens if they report incorrect outcomes, working in complement with the ability of any user to report that a prediction market failed to resolve accurately.

Using Smart Contracts to Bet on Anything

After two years of beta testing, Augur’s mainnet went live on the Ethereum network July 9, 2018.

REP migration is planned to begin at 11:01AM PT tomorrow, July 9th. At that time, the current REP contract will be frozen indefinitely. The migration will take place over the rest of the day.

— Augur (@AugurProject) July 9, 2018

Augur Mainnet Launch Seeks to Decentralize Prediction Markets on Ethereum
Related:  Augur Mainnet Launch Seeks to Decentralize Prediction Markets on Ethereum

In an innovative approach to finance, Augur sought out to take full advantage of trustless, peer-to-peer smart contracts and make betting on anything a real way for people to earn an income.

Running on Ethereum, Augur is able to provide lower-cost transaction fees while running transparently and securely.

In a blog post released June 9, the Augur development team shared their mission:

“Augur’s purpose is to democratize and decentralize finance. We’ll do this by enabling anyone, anywhere, at any time in the world to create and speculate on derivatives at a low cost for the first time.”

According to Predictions.Global– a website that tracks Augur betting markets, about $932,000 in ether are currently staked across 474 Augur markets. For more information about Augur, including price, market cap, founders and technical information, please see the CryptoSlate Augur coin profile.

The post Augur Prediction Market Confirms First $20K in Bets Have Paid Out appeared first on CryptoSlate.

Is Stellar (XLM) Better than XRP? Coinbase Seems to Think So

By iBankCrypto

Coinbase’s recent announcement that it is looking to expand its limited crypto-list is already well-known. One of the coins that Coinbase is looking into seems to be Stellar (XLM), which is hardly surprising. However, many have noticed that Ripple (XRP) is nowhere to be found on this modest list of possible additions.

Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f

— Coinbase (@coinbase) July 13, 2018

Stellar (XLM) over Ripple (XRP)?

Anyone who has ever explored Ripple and Stellar has, undoubtedly, noticed a lot of similarities between the coins. This is not really a coincidence, considering that both of them were created by the same person, Jed McCaleb.

However, one very important difference between them is the fact that Ripple (XRP) is the product of a company, while Stellar (XLM) is a creation of a non-profit Stellar Development Foundation, despite the fact that it is based on Ripple Protocol.

Another large difference is that Ripple has nearly countless gateways, most of which are large financial institutions and banks, while Stellar only has a few. And yet, Coinbase chooses Stellar over Ripple. Of course, Stellar has not been listed yet, and the exchange is merely exploring it at this point. However, many have started wondering why they chose XLM over XRP? Also, an even bigger question hanging over everyone’s head is how will Coinbase’s decision to go for Stellar actually affect Ripple?

Stellar, and not Ripple

One of the largest reasons why Coinbase might have chosen to look into Stellar instead of Ripple is the fact seen in a post to which Coinbase is often pointing everyone asking this question – the exchange aims at decentralized cryptos. This is one of XRP’s biggest flaws, considering just how much the coin is tied to its parent company.

Not only does the company hold full control over the coin, and it is the only entity out there that can mine Ripple, but they also hold the majority of the XRP tokens’ total supply. Because of reasons like this, Ripple’s decentralization has been a topic of many debates, and most people agree that Ripple simply isn’t even near the level of decentralization that a true cryptocurrency should have.

Not to mention a large number of controversies regarding Ripple, statements that it is, in fact, a security, and alike. This is also a reason why Ripple has been facing one lawsuit after another, and Coinbase simply isn’t interested in getting in the middle of all that.

On the other hand, Stellar functions a lot similarly to Ripple, without all of that extra baggage, which makes it a perfect candidate for Coinbase to explore. Not only is it a low-priced crypto, which is one of the aspects that the newly-appointed coin is expected to have, but is also truly decentralized,

How will an XLM listing affect XRP?

Ripple has demonstrated time and time again that it doesn’t really depend on other entities when it comes to paving its way to greatness. Despite the controversies regarding its questionable nature, Ripple has still managed to make a large number of partnerships with many large banks and financial institutions.

Because of that, it claims that Coinbase’s decision to turn its back on it in Stellar’s favor will not really affect XRP that much. In fact, Ripple has gone as far as to claim that such a development will be rather insignificant to its success.

Stellar’s goals seem not to be a threat to Ripple at all, despite the possibility of a competition between the two. And, while getting on Coinbase’s list certainly wouldn’t hurt, Ripple believes that it is fully capable of making due without Coinbase’s help. Its products are the key that will unlock the door to success for Ripple, and XRP is the main currency that these products are using. Therefore, Ripple might be right in this regard.

As for Stellar, getting listed on Coinbase will definitely help this coin a lot, and it is the coin with the best chance of being chosen, together with Cardano (ADA).

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

Image courtesy of Pexels

The post Is Stellar (XLM) Better than XRP? Coinbase Seems to Think So appeared first on Global Coin Report.



Read more at https://globalcoinreport.com/is-stellar-xlm-better-than-xrp-coinbase-seems-to-think-so/

Digital Currency Group CEO: Bitcoin Has “Hit The Bottom for The Year”

By Jose Antonio Lanz
Mr Silbert discussing about Bitcoin (BTC) with CNBC’s Fast Money Panel

Bitcoin’s recent bullish run seems to have triggered a wave of optimistic analysis from several leading investors. One of them is Barry Silbert, founder, and CEO of Digital Currency Group, a venture capital firm dedicated to crypto trading.

According to the successful investor, Bitcoin’s bearish streak may have come to an end. Mr. Silbert was particularly optimistic about Bitcoin (BTC) in a recent interview for CNBC:

“I think we’ve probably hit the bottom for the year. I actually put some money into bitcoin last week.”

Barry Silbert

Such statements are quite bullish as they state that the historical minimum lows of 2018 have already passed, so from now on – should his comments be accurate – the future of Bitcoin may be one of medium-term gains.

 

In addition to his optimistic technical analysis, he is also bullish on the fundamentals. In the same interview – which took place at the Delivering Alpha Conference in New York on Wednesday – he expressed his confidence in the prosperous future of Bitcoin (BTC):

“As an asset class, it is here to stay… I’m 100% confident a decentralized, non-fiat form of money is here to stay.”

At the time of writing, Bitcoin (BTC) is worth just over 7.3K USD. The minimum was less than 6k at the end of last month.

After the strong bearish streak at the beginning of the year, Bitcoin has had a strong fluctuation between bullish and bearish trends. Throughout most of the year, the 7k band was a critical support and played that minimum five times. However, in mid-June, Bitcoin broke that limit, passing to have the most robust support in the 6K band. From that moment on, the 7k went on to become a resistance that could only be overcome a few days ago.

Graphs provided by Tradingview

In the short term, (intraday trading or even scalping), bitcoin may reflect behavior that could show signs of growing momentum. The Heikin Ashi charts show that since the last significant price drop, each bullish trend has more strength and duration than the previous one (with only one exception).

Graph provided by Tradingview

Although short-term behaviors are difficult to predict, truth is that Bitcoin had generally bounced back after entering the 6k-7k “red zone”. So Mr. Silbert’s viewpoints are quite refreshing, especially for those who believe in a successful future for Bitcoin in 2018.

Full video available here

The post Digital Currency Group CEO: Bitcoin Has “Hit The Bottom for The Year” appeared first on Ethereum World News.

Crypto Markets Experience Slight Dip But Still Hold Weekly Gains

By Cointelegraph By Helen Partz

Crypto markets are slighting bouncing around today but still holding relatively stable weekly gains

David Drake and Stuart Oden Joins ONe Network Advisory Board

By Tom Clancy

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

The post David Drake and Stuart Oden Joins ONe Network Advisory Board appeared first on CCN

Tom Lee Assures Right Now is a Great Time to Buy/Hodl Bitcoin (BTC)

By Jose Antonio Lanz

Tom Lee, one of the most influential crypto analysts, gave his opinion regarding the recent evolution of Bitcoin prices (BTC) and the possible bull run that could be about to happen.

Mr. Lee’s analysis is somewhat puzzling for traditional traders because it presents a different way of “reading the signals.” However, knowing precisely the effect that seemingly contradictory opinions could generate, Tom Lee quickly explained the arguments behind his analysis.

Bitcoin is trading 30% below its 200 day SMA. It turns out that it’s actually a pretty positive signal, and the reason it’s a positive signal is that this has happened a few times since 2009 (October 2011, December 2014 and a few days ago). Why is that significant? Well, number one, Bitcoin bottomed within a month (after the moments mentioned above) … But I think it tells us something even more important not in the next month. It tells us that if you look forward in the next six months, you’re going to do well owning Bitcoin.

So to us, the message is when Bitcoin is trading 30% below its 200-day, its a huge bull signal because, one we’re ending or nearing the end of a correction but also if you look forward six months, you are gonna do pretty well owning Bitcoin.

Tom Lee

Generally in technical analyses, when a graph underperforms an SMA as strong as 200 days, the signal is contradictory. That is, it is taken as a “bad” signal for hodlers. However, according to Tom Lee’s analysis, this is not true in the case of Bitcoin.

Tom Lee explaining why the gap between BTC (BTC) actual prices and 200 MA is a bullish signal

Tom Lee: Bullish in Bearish Times

The CEO of Fundstrat commented that after studying the historical behavior of Bitcoin, the chances of success in circumstances similar to the current ones are incredibly high:

One thing we outlined in our note on that is if you looked at your probability of making money in six months out it was close to a hundred percent. So in other words, if you could ever buy Bitcoin 30$ below its 200 days moving average, you almost always saw good risk (and) reward being long.

 

Tom Lee’s statements are a clear invitation to buy (and hodl) Bitcoin; however, the waiting period is at least one semester. At times like these, changing trends take some time to consolidate, however, these opportunities are quite attractive for speculators. Rarely have price behavior and 200 M.A. crossed, and such an incredibly high possibility (close to perfection) could be quite appealing to the markets:

“So, what I’m saying is six months. So if you … buying and sell it six months later, your probability of making money was over 90%.”

Full video available here:

The post Tom Lee Assures Right Now is a Great Time to Buy/Hodl Bitcoin (BTC) appeared first on Ethereum World News.

Report: Blockchain Spending to Hit Nearly $12 Billion By 2022

By Christine Kim
Spending on blockchain solutions is forecasted to increase annually at a growth rate of close to 75 percent through 2022, according to a new report.

Regulators Approve Coinbase Acquisitions

By iBankCrypto

Coinbase recent request to gain the regulators’ approval for three acquisitions has finally been granted. This might lead to the popular crypto platform becoming the first-ever venue for trading securities that have been regulated on a federal level.

Coinbase moves forward: The trio acquisition approved

According to Coinbase recent announcement, both the SEC, as well as FINRA, have decided to approve its request to buy three firms that might allow it to start offering tokens classified as securities. If this does come to pass, the process of trading such tokens will be under federal oversight, but the process will be officially regulated, and therefore – completely supported.

The companies in question include Digital Wealth LCC, Venovate Marketplace Inc., as well as Keystone Capital Corp. By making this move, Coinbase is expected to receive a license that will allow it to work as a broker-dealer, as well as a registered adviser regarding investments, and even as an alternative trading system. This will make a large change in the way that the platform conducts its business, considering that alternative trading systems work outside of public stock exchanges that are considered to be traditional.

Coinbase’s spokesman, Elliott Suthers, stated that this approval is another very important step towards trading securities on the platform, which is Coinbase’s ultimate goal. Of course, Suthers recognizes that there are a lot more steps before this becomes a reality, but each step towards it is a big deal.

Coinbase spearheads the securities enlistment

The possibility of achieving this goal would mean a lot for Coinbase. Regulated traders might end up handling billions of dollars worth of tokens that the companies end up selling during ICOs. Even though a lot of countries have been attacking ICOs whenever they got the chance, various companies have already managed to raise billions upon billions via ICOs in this year.

This amount is three times a large as what was achieved in 2017, and we are only halfway through the year. According to the SEC, the large majority of these coins are classified as securities, which means that coin issuers need to register and follow the federal laws. However, this also includes all the platforms that choose to accept these coins in their trading practices.

This has caused a lot of exchanges to do just that, with Coinbase obviously leading the movement. Despite the fact that Coinbase seems to be leading, other traders are not far behind. Circle Internet Financial Ltd., for example, stated only last month that it plans to register as brokerage so that it might allow its customers to buy or sell securities just like regulated cryptos.

Additionally, the company also works on plans to receive federal banking licensee, so that it could serve even more customers.

As for Coinbase, its next move is to integrate its technology into the companies that it had bought. The company’s spokesman did not provide an established timeline regarding this, so there is no telling when the company will start or finish this task. Still, it is known that the process will include company employees getting the right licenses, as well as changing the way how data reporting goes within the companies.

Five new coins might come to Coinbase soon

Additionally, Coinbase also announced that it will soon consider adding five new coins, which was an announcement that a lot of people have been waiting for, for a long time. The new additions to Coinbase’s crypto list may include Cardano, Stellar, 0x, Basic Attention Token, and Zcash. Despite these coins being considered, Coinbase stated that there is no guarantee that all of them – if any – will actually be listed.

If the platform does decide to add some, or all, of these coins, such a move would mark a very important turning point for the platform. Especially considering that so far, it only offered Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Still, nothing is confirmed yet, and there is no guarantee that the coins won’t end up being considered securities. The crypto community continues to await the final decision, while Coinbase continues to move forward with its plans of expansion.

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

Image courtesy of DonkeyHotey via Flickr

The post Regulators Approve Coinbase Acquisitions appeared first on Global Coin Report.



Read more at https://globalcoinreport.com/regulators-approve-coinbase-acquisitions/

Japanese Minister Denies Ties to Unregistered Crypto Exchange Under Investigation

By Nathalie Stucky
Japanese Minister Denies Ties to Unregistered Crypto Exchange Under Investigation

Seiko Noda, Japan’s Minister for Internal Affairs & Communications, and Minister in charge of Women’s Empowerment, was questioned by the Japanese press on Thursday over her involvement with an unregistered cryptocurrency exchange, which was allegedly violating the Japanese fund settlement law.

Also read: Japan Tax Agency Says Individuals Earning $1,800+ in Crypto a Year Will Declare Tax

It was revealed on Thursday that, on January 30, Noda’s secretary and aide allegedly invited an agent of the FSA and the representative of an unnamed unregistered cryptocurrency exchange operator to her parliamentary office. The said exchange operator was under investigation by the FSA for operating without registration, Jiji Press reported. The FSA had slapped the Tokyo-based company with a warning on January 12, saying it was suspected of violating the law.

Given Her Position as a Cabinet Minister, Noda Risked Being Accused of Exerting Pressure on a Government Investigation

Japanese Minister Denies Ties to Unregistered Crypto Exchange Under Investigation
Seiko Noda, Minister for Internal Affairs

“Because there has never been any administrative ties between this company and my office, I believe there is no exerting pressure on the front of this government investigation.” Noda told the press at the Ministry of Internal Affairs, on Thursday.

According to Noda, her secretary and aide solicited an FSA agent for general background briefing regarding crypto exchanges’ legal framework and organized a meeting at her parliamentary office with an acquaintance who represented the company. Noda said she was not present at the meeting. The unnamed company was under government investigation on suspicion of violating the fund settlement law at the time, but Noda’s team claims it was not aware of that fact. An FSA official visited Noda’s office at the Diet members’ building on January 30 to explain Noda’s aide and the representative of the company under investigation the FSA’s positioning on regulations concerning funds raising by issuing cryptocurrency and other matters.

A senior agency official noted that the request from Noda’s office for a briefing could be interpreted as pressure. “A public servant will likely take it as pressure if an aide to a sitting Cabinet member calls for a meeting in which an employee of a company the agency is looking into is also present,” the official was quoted saying to Asahi newspaper.

Noda told reporters that she hasn’t received any political contribution, nor had she made any investment with the company. “I promise I will take more prudent responses in the future.” She added.

The company, which began dealing in its own cryptocurrency in October 2017, received administrative guidance in February 2018 not to continue selling cryptocurrencies.

The Amended Settlement Act

Japanese Minister Denies Ties to Unregistered Crypto Exchange Under Investigation
The National Diet, the seat of the Japanese government

Japanese lawmakers amended the Act on Settlement of Funds in May 2016 to regulate businesses handling virtual currencies. This law was amended after Mt. Gox went bankrupt in Japan in February of 2014 due to the misappropriation of customers’ assets by its operator.

In response to these background events, Japanese lawmakers enacted the Amended Settlement Act with three pillars of regulation as follows:

  • Registration requirements on virtual currency exchange business in Japan;
  • Regulation against money laundering and terrorist financing; and
  • Introduction of rules to ensure customer protection.

What do you think of this Minister’s implication in government investigation into the crypto exchange operator? Share your thoughts in the comments section below!


Images courtesy of Jiji Press and Japan Times.


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

The post Japanese Minister Denies Ties to Unregistered Crypto Exchange Under Investigation appeared first on Bitcoin News.

Fmr. Trump Advisor Steve Bannon is Building a Utility Token Cryptocurrency

By Josiah Wilmoth

Former Trump advisor Steve Bannon may no longer have an office down the hall from the U.S. president, but he still thinks he can have a profound impact on the world — using cryptocurrency. Bannon, who served as White House Chief Strategist during the first year of Donald Trump’s presidential administration, provided a glimpse into

The post Fmr. Trump Advisor Steve Bannon is Building a Utility Token Cryptocurrency appeared first on CCN

Cboe’s Push for an ETF Is Picking up Steam

By cdouthit

At the beginning of June 2018, Cboe Global Markets Inc. filed with the Securities and Exchange Commission for a Bitcoin exchange-traded fund (ETF), which is an instrument that tracks a particular index and replicates its performance. ETFs are passive, and on the stock exchange, they trade just like stocks. 

This isn’t the first time that Cboe has attempted this maneuver, but it is the first time since the SEC opened the doors again for proposals to create Bitcoin ETFs. Before that, the SEC had told all companies who had proposals in place to withdraw them, but now it has opened the discussion again.

This is a matter of status in the financial realm. For Cboe, it is a combination of timing and a lot of safety net features built into its proposal that will give it some extra punch. So, the possibility of this being approved by the end of this year or early next year is good and will help boost the legitimacy of Bitcoin and the rest of the blockchain space.

When that happens, it will bring opportunity and liquidity to cryptocurrency markets, and combined with the continuing upward progression of cryptocurrency on the world stage, it is likely that this will become something soon.

Cboe’s proposal not only made the case for the maturing of cryptocurrency markets, but also highlighted the need for liquidity. Also, there is much more regulation these days, as KYC and AML standards (which will help prevent criminal organizations from laundering money using cryptocurrencies) are being adopted to avoid wrongdoing and to bolster public trust and interest in these markets as legitimate sources of trade.

Along with this, there are other great standards built into this ETF proposal. Each share will represent 25 Bitcoin, which is not something that the average retail investor will pick up. Nonetheless, the ETF would provide a massive boost to the real asset and a windfall for all who own it.

Cboe was smart in its approach, and its proposal has the best chance of getting passed. The SEC cares more about retail investors and their speculations than it does about institutions which can afford any loses they might incur.

Each ETF share will be liquid, as Cboe will have bought the required 25 bitcoins per share, but it will also provide upwards of $25 million in primary insurance coverage and $100 million in excessive coverage, and offer the ability to purchase even more coverage to trusts based on their holdings.

It is exciting to see these protections being provided for anything related to cryptocurrency as it pushes towards mainstream legitimacy. For crypto to be a true world currency, these types of assurances must become commonplace, as should the ability to keep this medium out of the hands of criminals wishing to launder money.

Bitcoin Price Has Bottomed, According to Barry Silbert

By Georgi Georgiev
Bitcoin price

Bitcoin price has found its bottom, according to early Bitcoin investor and Founder & CEO of Digital Currency Group, Barry Silbert.


What Caused the Spike?

Bitcoin price 00 saw an unprecedented rise July 17, spiking with more than 10 percent in around 45 minutes.

Speaking on CNBC’s Fast Money, Bitcoin advocate Barry Silbert associates the increase with the fact that a lot of people were actually looking for a bottom which, according to him, is already in.

Barry Silbert

“A lot of people were looking for the bottom,” he said. “A lot of institutional money with dry powder looking for an opportunity to get in and I think the bears just kind of ran out of energy, ran out of Bitcoin to sell.”

Silbert also notes that Bitcoin price is starting to look pretty good “from a technical perspective.” This echoes another permabull, Fundstrat’s Tom Lee, who also attributed the recent rise to favorable technical analysis.

The Bulls Are Back in Town

Silbert also goes on to express his bullish sentiment on the current developments around Bitcoin. He finds it particularly positive that criticism from key figures fails to impact Bitcoin price at all:

When the chair of the Fed says negative things about Bitcoin, and Howard Marks says negative things about Bitcoin, and Ken Griffin says negative things about Bitcoin and Bitcoin doesn’t move, I think that’s a really bullish sign.

He also reiterated on the recent Digital Asset Investment Report released by Grayscale Investments. It revealed that the rate of investment, especially in Bitcoin, increased rampantly in the first two quarters of 2018, despite the drop in price.

Grayscale managed to raise a total of $250 million YTD with 56 percent coming from institutional investors.

Silbert points out that the second half of 2018 will see “some consolidation”. He also notes that the infrastructure for institutional investments is getting closer to being laid down. Thus, he expects 2019 to be a “big year.”

Custodial solutions such as those recently announced by Coinbase will play an important role in paving the way for institutional money, according to Silbert.

What do you think of Silbert’s bullish sentiment on Bitcoin? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock; Bitcoinist Archives.

The post Bitcoin Price Has Bottomed, According to Barry Silbert appeared first on Bitcoinist.com.

How to Get into a Bitcoin Business that Works

By David Hamilton

Blockchain technology is expanding at an astonishing rate. This technology is creating a prosperous environment for entrepreneurs seeking to start a Bitcoin business. It has been an exciting ride for BTC investors, and over the last nine years, considerable growth has occurred in the crypto space. Today, there are numerous Bitcoin business opportunities to consider.

Homework Time

Your quest for the perfect BTC business should start with research. Bitcoin business opportunities are everywhere, but it is important to remember that not all countries are pro-bitcoin. China allowed only one BTC ATM to operate until banning ICOs in the country last year. Today, that BTC ATM sits in the lobby of the headquarters of BTCC, decorated like a Christmas tree, with no BTC available.

Lawyer Time

To avoid losing your investment, you should consult your local legislation before choosing a particular business model. Countries vary on their crypto legalities. To avoid a worst-case scenario, such as getting thrown in jail and having all of your crypto confiscated, you need to consult with your local government. A lawyer can make this part of the process easier.

Some lawyers specialize in cryptocurrency related manners, such as Lee Schneider from the prestigious law firm McDermott Will & Emery. Mr. Schneider explained how his practice is now solely dedicated to blockchain technology in a recent interview with theinformation.com. He’s not alone either. There are a growing number of law firms turning to the budding crypto market in search of new clientele.

Consider Your Funding

Your available funding will play a crucial role in determining what business model best fits your criteria. Not all Bitcoin businesses cost the same. There are various low cost start up BTC businesses, such as BTC ATMs and merchandise. You can start either of these businesses for under $20,000.  

Bitcoin ATM Business

Bitcoin ATM Business

There are also BTC businesses that require very large investments. You will need significant capital if you are considering opening a sizable mining operation. ASIC mining rigs are expensive to purchase and operate. You could very easily spend a significant amount of your funding on mining rigs alone.

For example, the current industry standard is the Antminer s9. These units cost $698. A large size mining operation could easily consist of one hundred Antminer s9s. Many large mining farms even include thousands of mining rigs. A mining farm of this size would require a $700,000 investment before any other costs involved with the business, such as location, staffing, and installation.   

Bitcoin Lending Services

Bitcoin lending specializes in providing startup capital. These services can bolster your funding significantly when used correctly. Bitcoin lending services can be a great way for you to start a Bitcoin business without spending all of your hard earned crypto. One example of a Bitcoin lending platform is Unchained Capital.

Unchained Capital will lend you USD and allow you to use your Bitcoin or Ethereum as collateral. Users are permitted to borrow up to 50 percent of the value of their crypto collateral. And, the loans are available for three-month and two-year terms. The downside is that you’re looking at a ten to fourteen percent interest rate on your loan. But, you may find that your potential business can accommodate for these interest rates and still produce a sizable profit.

Popular Bitcoin Businesses to Consider

There are a number of popular types of BTC businesses flourishing across the globe. You will find that some of these are better suited to your location than others. There is no one-size-fits-all when discussing Bitcoin businesses. Only research will help you to determine the best investment options. Let’s take a moment to look at a couple of the most popular BTC business models seen today. 

BTC ATM

Bitcoin ATMs are starting to become more popular. These devices allow users to purchase, send, and sell BTC anonymously. The cost for this anonymity comes in the form of transaction fees that are much higher than online alternatives such as Coinbase. A BTC ATM can provide you with a significant income if placed in the right location. You will want to verify their legality in your country before purchasing a unit.

The advantage of a BTC ATM is that it is an automated business system, which only requires you to keep the machines hot wallet stocked with BTC. The downside is that price fluctuations can affect the value of the BTC in your hot wallet. In many countries, such as the US, your BTC ATM will only be permitted to sell BTC to users. Selling BTC directly for fiat without KYC compliance is illegal in the US because of the fiat currency laws. Customers can buy all the BTC they want from your machines, but they will have to go somewhere else to sell it.

BTC Remittance

Bitcoin remittance firms are booming across the globe. Remittance firms send money internationally. Nations such as India and South Africa rely heavily on remittance payments. BTC remittance firms can provide these clients with a cost-effective alternative to the traditional process of sending money internationally. Crypto remittance services provide clients with instant transactions and reduced rates. A crypto remittance company can be a smart Bitcoin business to consider if you live in an area where remittance payments are a key component of the local economy.

Global Remittance Payments via World Bank

Global Remittance Payments via World Bank

Mining Operations

BTC mining is still profitable thanks to the development of high-powered mining rigs and mining pools. Mining pools combine the processing power of every user on the network. The added leveraged hash power gives mining pools the ability to increase the effectiveness of all the miners involved. The miners split their profits earned according to their hash contributions.

Today, Application Specific Integrated Chips (ASIC) mining rigs are the best option for mining BTC. These chips are thousands of times more effective at calculating BTC’s Hash-256 algorithm than GPUs or CPUs. ASIC rigs are going to take up a considerable amount of your investment, though.

You will also need to consider your operating costs. Regions with inexpensive or renewable energy options are better suited for mining operations. You may find that you’re not making a profit if you set up a mining operation in an area with high electricity costs. There are less than four million BTC to be mined. This scarcity should help to drive the demand for BTC up, and its price should increase accordingly. The last BTC is estimated to be mined by 2140.

Bitcoin Business Opportunities

It’s exciting to see how blockchain technology is providing the world with a plethora of new business opportunities. Many people in the crypto space believe the decentralized market will continue to see growth for many years to come. By opening a Bitcoin business now, you are positioning yourself wisely in this digital economic revolution.

The post How to Get into a Bitcoin Business that Works appeared first on CoinCentral.

BANKEX Bounty Service Cuts Cost of Bounty and Airdrop Programs by 50% Operations

By Tom Clancy

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

The post BANKEX Bounty Service Cuts Cost of Bounty and Airdrop Programs by 50% Operations appeared first on CCN

Enigma’s Guy Zyskind: ‘I’m Pro-Whatever Kind of Blockchain Fits Decentralization Ideals’

By Cointelegraph By Molly Jane Zuckerman

Meet Enigma’s Guy Zyskind and find out why he thinks most current blockchain protocols will not be around in 10 years, and why he wishes he had entered crypto back in 2010

‘The Bitcoin (BTC) Bull Market IS Coming,’ Reassures John McAfee

By iBankCrypto

In the words of John McAfee, the price of Bitcoin (BTC) has increased by more than $1,000 in one week. Many have speculated if this could be the beginning of the much anticipated Bitcoin Bull market. Others have labeled it as another Bull trap. We have been victims of Bull traps before and we have celebrated an increment in the value of BTC, only to see it once again decline in front of our eyes. We have even speculated the possibility of Bitcoin manipulation.

But John McAfee reassures us that the Bitcoin Bull market IS coming in the following tweet.

Bitcoin – $1,000 increase in one week. Is this the bull market? I have no clue. 10 such increases in succession and I will consider it Bull. In the meantime, know this: The Bull Market IS coming. And when it does, it will make the eruption of Krakatoa seem like a Meerkat's burp.

— John McAfee (@officialmcafee) July 18, 2018

McAfee is right in that on Sunday, the price of BTC was hovering around the $6,400 mark. Three days later, on the 18th of July, the same BTC is currently trading at $7,444 and looks like it will continue gaining into the weekend. In the last 24 hours, BTC has gained by an incredible 10%.

So how will the BTC volume be maintained in the markets to guarantee a Bull run?

Historically speaking, and looking at the price of Bitcoin at exactly one year ago, we find that BTC was valued at around $2,500 last July. This price would gradually increase as the months passed and as we approached the holiday season last year. Around Thanksgiving last year, BTC was valued at $10,000 indicating a percentage increase of 300% from July levels. Taking this figure of 300%, we can, therefore, predict that by the time we get to Thanksgiving this year, BTC will be valued at around $29,600 (7,400 x 300% + 7,400).

The price of BTC would then peak to $20,000 on December 17th right before BTC Futures started being offered by the CME Group and the CBOE.

The only similar event that could make BTC pump that hard, is the current BTC ETF filing by the CBOE at the SEC. The final verdict should be out by the end of August. Some crypto enthusiasts had initially predicted that we’d know by the 10th of August with others saying that it will not be on the 10th.

So, will BTC continue to gain 10% daily till mid-August?

10% gains per day is a massive increment in value. This has never been seen before in the crypto markets. Let us say that the SEC will announce the Bitcoin ETF verdict in 30 days. If BTC were to increase by 10% daily till then and using simple interest, we get a value equal to the one estimated for Thanksgiving this year: $29,600.

in conclusion, anything is possible in the crypto-markets. Therefore, let us sit back, relax, and enjoy the ride! John McAfee has reassured us that the Bitcoin Bull run is coming and that BTC could get to $1 Million by the end of 2020.

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

Image courtesy of Pexels

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Kodak Bitcoin Mining Rig Kashminer Stopped by SEC

By Elizabeth Gail

The much-hyped Kodak Kashminer, a bitcoin mining rig showcased at CES 2018 and marketed by Spotlite, will not be available on the market due to a block imposed by the US Securities and Exchange Commission (SEC).

Speaking to the BBC on July 16, 2018, Spotlite’s CEO Halston Mikail revealed that the SEC had stopped the Kashminer rental service from commencing, and now, the company has apparently opted to use the equipment at its Iceland headquarters for private projects instead. 

A spokesperson for Kodak who spoke with the BBC refuted allegations suggesting that that the Kashminer was in any way associated with the company.

According to his statement, Kodak’s licensee, Spotlite USA, used the Kodak brand name on its products sans official licensing.

During the CES, January 2018 event in Las Vegas, Spotlite announced that it would be leasing out the miner at an upfront fee of $3,400. Customers would enjoy a projected monthly revenue of $375 in bitcoin, which translates to a substantial $9,000 in two years.

The company’s Chief Executive Officer, Halston Mikail, had also announced plans to install the mining equipment at Kodak’s headquarters in Rochester, New York, a statement that has been debunked as untrue by the imaging technology company.

During its unveiling in January, Kashminer critics trashed the expected monthly revenues as unrealistic. The machine was later on revealed to be a repackaged Bitmain Antminer S9 with Kodak brand labeling.

The Kashminer unveiling news coincided with Kodak’s debut of its own cryptocurrency dubbed KODAKCoin, which had just been announced a week earlier.

Kodak’s blockchain and cryptocurrency venture announcement caused its stock to climb from $3.10 per share to over $13. The introduction of the Kashminer led to suspicion among some analysts, who saw it as a ploy to further inflate stock prices.

Kodak’s Blockchain Foray

The Kashminer controversy aside, Kodak officially took a plunge into the blockchain scene earlier this year, joining the likes of Rich Cigars Inc, Long Island Iced Tea Corp, and UBI Blockchain Internet via a partnership with WENN Digital.

The partnership was to realize the development of KODAKOne, a blockchain image rights platform that would take advantage of the distributed ledger technology to track images and provide a compensation system for photographers.

One of the more notable figures to be signed onto the KODAKOne platform is Formula One’s Fernando Alonso.  The Spanish racing driver signed an exclusive deal with the company on June 28, 2018, to manage his personal and professional images and videos.

Featured Image Credit: BBC

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JPMorgan Files New Patent for Virtual Receipts on Distributed System

By Cointelegraph By Max Yakubowski

JPMorgan files new blockchain-based patent for the purposes of ownership tracking and transfer

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