Category Archives: litecoin

FLUX Global Gaming Ecosystem – Player-Owned Gaming Platform Builds Strong Loyalty

Source

The creation of a universal gaming platform on the Blockchain will turn gamers into competitive players and investors.

Gamers are a rather fickle lot: two-thirds of them will abandon a game within 24 hours. With hundreds of mobile games being launched daily, independent game developers need every marketing advantage they can get. A new mobile gaming platform on the Blockchain has created a novel solution for a gaming environment – a win-win model.

The FLUX global gaming ecosystem, recognizing that ownership is the ultimate motivational tool to develop loyalty,  makes all players investors. The FLUX platform adds plenty of rewards and other incentives to further motivate game developers, players, traders and streamers to promote the platform.

Sharing the revenue pie

Once in a game, game hosts have only hours to convince players to stay. Of those who do remain, on average only four percent of them are left in three months. FLUX gamers will be motivated to jump to another game on the FLUX platform since they receive a cut of the overall platform revenues. Additionally, FLUX investors who stay in the game and refer new players receive a share of the new recruits’ revenues. With all FLUX investors motivated to increase revenues, the cost of customer acquisition and player churn are lowered.

Game developers can crowdfund their game ideas on the platform. These game ICOs provide gamers a stake in the future success of a game, and another strong incentive to stay with a game. The model supports early game development by allowing developers to immediately withdraw ICO funds during crowdfunding to develop and market their games at specific stages, including game creation, MVP and the first pilot game.

Developing a competitive platform

The best online gaming retention tool is to turn gamers into competitive players. Once they have invested in developing skills, the cost in the loss of potential winnings is high if they move to a new game in which they have to develop skills and reputation.  The FLUX model has been designed to motivate competitive players to stick around and improve their skills. One way the platform accomplishes this is by removing the commissions on competitive games.

No fee is charged for developers to upload competitive games or for in-game purchases made over mobile devices. On non-competitive games, a two percent commission is charged. For all games, each time a player places a bet, a commission of one to seven percent applies. The low fees are made possible by replacing intermediaries in transaction management with smart contracts that directly facilitate transactions between platform participants.

Leveling the playing field

On the FLUX platform, independent game developers have more marketing muscle to take on the big gaming titles. Older games have built loyal followings. In addition to vested player skill, rewards and incentives help to retain players. The FLUX platform builds marketing power in numbers. Players are motivated to stay on the platform and promote it because, as owners, they will benefit from any increase in the value of the tokens.

As always, there is room to out-compete the big game titles by offering more enticing rewards and incentives, and FLUX seeks to compete on incentives, too. By referring players to the platform, gamers receive commission on all future revenues. These in-community incentives increase actions taken to promote the platform and thus significantly lower player acquisitions costs for developers.

Players can earn more tokens in games and tournaments, and trading on the FLUX store. Streamers earn rewards for broadcasting games.

The FLUX ICO (FLUX)

Gamers can invest in the FLUX platform by buying FLUX tokens during its upcoming initial coin offering in December. Investors can buy FLUX coins at a discount by participating in the pre-ICO on Dec. 1 before the launch of the first stage of the ICO on Dec. 10.  The minimal cap is 5,000 ETH, and each ETH is worth 600 FLUX tokens.  

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

4NEW TOKEN: AFTER MARKET PRICE SUPPORT AND LIQUIDITY

Source

Most Altcoins are failing. Many are outright fraudulent others have poorly designed business plans and strategic ideas on how best to get coin adoption widely accepted. All are attempting to emulate the success of Bitcoin, however, few have figured out the secret recipe. What makes the recent price hikes in Bitcoin feasible and sustainable, is the tidal wave of buying demand being realized with a limited and finite supply of bitcoins, as cryptocurrencies, a digital asset, enter mainstream.

This tidal wave has people looking to diversify into other currencies so as to enjoy similar  success in identifying the next bitcoin. It is important to note that in a crowded crypto-space it is not easy to identify or filter good coins with real potential from good marketed coins which tend to fizzle upon listing on exchanges.

What is lacking within cryptocurrencies currently, is institutional support, that is anticipated to change overtime though. In conventional offerings such as Initial Public Offerings (IPO), once a company lists its shares on an exchange they are usually supported by Market Makers. These include the likes of Goldman Sachs, Morgan Stanley and JP Morgan Chase. In fact, exchanges like New York Stock Exchange and Nasdaq require that each IPO have at least 3 or 4 market makers. The role of the Market Maker is to purchase shares when no one else will purchase them in a marketplace. Similarly, they also have to sell shares when no one else will sell shares in the marketplace. This is why an IPO, prior to listing focuses on who the underwriters are and their credit worthiness to support the market making function of an offering on an exchange.

In a peer to peer decentralized system, this function is currently lacking. Consequently, most ICOs upon listing fizzle to nothing because nobody is actually focused on price support or stability.

So how does offer price support and stability to a coin without a conventional market maker in a peer to peer decentralized system?

Our research desk came across one offering, namely 4NEW. The entire business model of 4NEW is reverse engineered for aftermarket price stability and liquidity in its coin, deprived of market makers. For example, 4NEW, which has raised 30+ Million USD in institutional funding to build a Waste to Energy plant from traditional / conventional funding avenues, recently launched its crowd-sale for a $9.5MM hard cap limit with 7 days remaining to the end of their ICO.

The Waste to Energy plant not only solves two social concerns, waste surplus and energy shortfall, however it also ensures widespread coin adoption. All future sales generated from the Waste to Energy plant will be transacted over the 4NEW blockchain with the ability to make and accept timed payments between businesses. The FRNCoin (4NEW’s cryptocurrency) will have a strong foundation of demand baked into the coin, offering pricing stability and consistent liquidity in the coin. In addition, like any successful cryptocurrency, 4NEW has observed swift adoption of its coin well in advance of the launch of its first plant.

Starting 2018, the coin is slated for acceptance in the following industries, Healthcare, Pharmaceuticals, Health Insurance, Telecommunications, Credit Card processing and Money Transfer services. This pattern of adding new participants is expected to continue at a feverish pace through 2018.

When consumers purchase the FRNCoin to avail the goods and services offered by these businesses, an organic demand will be generated in the coin that is not focused on speculative trading of the coin. This organic demand will bring new liquidity into the marketplace for the coin, offering price support. That means, there will always be consumers making a market in the coin, replacing the market making function offered by institutions. Conventional institutional support is not suited for a peer to peer decentralized system, it has to be peer to peer market making that supports the price that is not engaged with the coin in speculative trading. Ironically, bitcoin enjoys this exact same feature, thus it is compared to gold in many instances.

As 4NEW continues to add more business consumers to its coin, a Top-Down approach to widespread utilization will begin. This will permeate through to the masses overtime, which will lead to another successful cryptocurrency very similar to Bitcoin. The only difference between Bitcoin and 4NEW is actually the adoption approach. Bitcoin experienced a Bottom-UP strategy, therefore more grass roots approach. That usually takes longer to attain, however it is also responsible for the masses to have awareness and widely accept cryptocurrency today. Like its predecessor, 4NEW will also act like a store of value overtime, however, its adoption approach is Top-Down approach. The credibility of this offering is further cemented by their recent affiliation with the Imperial College of London, a 110 year academic institution with a pedigree track record.

While there can be no assurances of the future or outcomes, however, this coin has a strong probability of being one of the lasting examples of the future success stories within the crypto community.

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.

Bitcoin Price Technical Analysis for 12/08/2017 – Riding on Small Dips

Source

Bitcoin Price Key Highlights

  • Bitcoin price has been on a tear and seems unstoppable in its climb.
  • Price has barely retraced from its rally, but potential dips on short-term time frames can be spotted.
  • But with bitcoin price surging to unprecedented levels at an unprecedented pace, there’s a rising risk of a tumble as it goes.

Bitcoin price is once again setting new records but the chance for sharp profit-taking moves is building as it climbs.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA across all time frames, indicating that bullish momentum is very strong. The gap between the moving averages has also been widening to reflect strengthening bullish pressure.

On the 15-minute chart, it can be seen that bitcoin price is trading above an ascending trend line. Price has just made another bounce to new highs but might be due for another dip soon.

Stochastic is indicating overbought conditions once more and is starting to turn lower, possibly drawing some sellers back in. RSI has a bit more room to climb so bitcoin price might break out of the tiny consolidation to set new highs yet again.

Market Factors

Anticipation is building up over the launch of CBOE bitcoin futures, drawing an influx of demand from retail and institutional investors. Apart from that, the fact that bitcoin is hogging the financial headlines once more on its stellar climb has drawn more market interest.

Of course, as it establishes one new high after another, bitcoin price is seen as being more and more vulnerable to a crash. Nonetheless, price seems indifferent from these naysayers and continues climbing, especially as there seems to be no catalysts that could lead to unwinding.

CME and Nasdaq are also prepping to launch their bitcoin futures products soon, which means more availability and higher volumes. In the past, this has consistently led to strong gains and this phenomenon could carry on until the situation changes.

TRADE NOW :  Want to trade Bitcoin? Join Now!

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

It’s A Wonderful Life for Bitcoin Evangelist as Community Expresses Its Gratitude

Source

In “It’s a Wonderful Life,” the 1940s Christmas classic, George Bailey (played by Jimmy Stewart) is the guiding force of a small-town bank, who ends up sacrificing his own dreams for the betterment of his community.

Ultimately, facing financial ruin, he begins to question what it was all for. That is when his friends appear, one by one, with a flurry of donations, reminding him of how he touched each and every one of their lives, and Bailey realizes he is a rich man after all.

Bitcoin evangelist Andreas Antonopoulos recently found himself at the center of a similar outpouring of gratitude. The author and public speaker has spent the last five years of his life traversing the globe and educating people about Bitcoin. But, as it turns out, he hadn’t exactly made himself rich along the way.

WIth the price of bitcoin soaring into the $16,000s, a grateful community has decided to give Antonopoulos’s fortunes a karmic boost. A spontaneous giving spree, fueled by social media, is under way. Thus far, more than 100 BTC, valued at over $1.7 million has been sent to his bitcoin address. One individual alone sent an eye-popping 37 BTC, worth $500,000.

Along with the money, people are tweeting under the hashtag #ThankYouAndreas and reminding Antonopoulos of the many ways he made a difference in their lives.  

“Words are my craft but tonight I am speechless,” the author of Mastering Bitcoin tweeted last night.

Never a Rich Man

Antonopoulos became involved with Bitcoin in 2012. He has written two books on the subject, describing in detail the technical rules governing Bitcoin in a way that a novice could understand, and has given more than 200 talks (many of them free) about Bitcoin.

It is easy to imagine that someone who knows so much about Bitcoin might have found a way to profit from it. A small investment in the virtual currency five years ago, when bitcoin was at around $6, would have netted the Bitcoin writer a humongous profit. (Bitcoin is currently listed at $16,000.) But Antonopoulos wasn’t really a speculator.

Indeed, as investor Roger Ver pointed out in one of his tweets, if Antonopoulos had put more money into bitcoin early on, he would have been a lot better off financially.

But Antonopoulos was too busy, too obsessed with spreading his vision of a world free from the strictures of legacy banks and payment systems. He wanted people to understand the technology and to appreciate its promise.

That early obsession, as he described in a recent blog post, led him to undo a lifetime of savings and eventually fall into credit card debt as he tumbled down the Bitcoin rabbit hole. He lived paycheck to paycheck for years until becoming debt-free at the end of 2016. Those bitcoins he’d collected and earned had to be cashed out along the way to support him and his family.

I did invest, Roger. Then I sold in 2013 to pay my rent. I didn’t have disposable income to work for two years without pay and invest at the same time. I should’ve gone into more debt, but that would have been irresponsible towards my family who I supported

— Andreas M. Antonopoulos (@aantonop) December 5, 2017

Because most people were not aware of Antonopoulos’s earlier struggles, some were puzzled when he recently began putting videos of his talks on Patreon, a membership platform that allows users to collect monthly subscription fees for services.  

“I’m not a bitcoin millionnaire [sic],” Antonopoulos responded to one follower on Twitter. “My supporters on Patreon, many at $5/month, make it possible for me to work with independence.”

Developer Adam Back quickly responded with the suggestion that “if ‘sign guy’ can get a meaningful start from tips, we should try [to] find a way for the community to fund @aantonop to a hodlers position.” And the community agreed.

Shortly thereafter, his number of Patreon supporters began to rise, and donations started to pour into Antonopoulos’s bitcoin address.

In addition to the funds that accumulated, accolades began to pour in from supporters far and wide on Twitter, Reddit and Patreon. Many credit him for getting them into Bitcoin in the first place, for helping them to understand it and for inspiring them to pursue careers in the space.

“I don’t know anyone as authentic, well-intentioned and universally respected in the industry,” wrote entrepreneur Ryan Selkis in a tweet.

“@aantonop is by far the BEST advocate and most eloquent speaker on #bitcoin. His speeches had a HUGE influence on me,” wrote investor and author Brian Kelly.

“The community raised over $700,000 worth of Bitcoin in a matter of hours for Andreas from all over the world, which beautifully shows the power of Bitcoin itself, actually,” wrote Erik Voorhees, CEO at cryptocurrency exchange ShapeShift.

For Antonopoulos, the outpouring of support has been no less than overwhelming.

“I am going offline for a few days. I need time to process everything that happened,” he tweeted on Wednesday. “If you sent me a message in the last 48 hrs, thank you. If I don’t respond for a week or so, I apologize.”

[embedded content]

LTCUSD RSI, Trend lines & Pattern evaluation

G’day readers, today I am taking a look back to my 100% profit Litecoin forecast. As we can see Litecoin has broken out of the Fibonacci zone, and although we see it residing inside again above the 61.8% line support is developing & I expect to see a new bottom of $100 for Litecoin by the end of 2018, which at this point is not at all far off.
It is worth taking a look at the RSI here as we are re-entering now the 20–80 RSI safety zone.

Following the trend lines we’ve seen a very steady progression for the LTCUSD pair. Right now we’re seeing an insanely strong rally for BTC, which is nothing out of the ordinary but none-the-less takes focus away from the Alt market & of course Litecoin directly. I think we’ll see support building atop this Fib pattern entering 2018, and truly believe that 2018 is the year of Litecoin. A look at Charlie Lee, who has continued to accrue popularity throughout 2017 on Twitter & his Litecoin programming & his intentions to finally up the Litecoin marketing regime, which we truly have seen little of from Lite as of yet.

Here’s a link to the TradingView post for a closer look.
https://www.tradingview.com/chart/LTCUSD/qfojW6zP-LTCUSD-RSI-Trend-lines-Pattern-evaluation/

I also run an open Discord server for Crypto discussion & weekly contests of Fantasy League Crypto. This weeks is a $25BTC reward for the winner. The invite link below
https://discord.gg/ChcZxDa

LTCUSD RSI, Trend lines & Pattern evaluation

G’day readers, today I am taking a look back to my 100% profit Litecoin forecast. As we can see Litecoin has broken out of the Fibonacci zone, and although we see it residing inside again above the 61.8% line support is developing & I expect to see a new bottom of $100 for Litecoin by the end of 2018, which at this point is not at all far off.
It is worth taking a look at the RSI here as we are re-entering now the 20–80 RSI safety zone.

Following the trend lines we’ve seen a very steady progression for the LTCUSD pair. Right now we’re seeing an insanely strong rally for BTC, which is nothing out of the ordinary but none-the-less takes focus away from the Alt market & of course Litecoin directly. I think we’ll see support building atop this Fib pattern entering 2018, and truly believe that 2018 is the year of Litecoin. A look at Charlie Lee, who has continued to accrue popularity throughout 2017 on Twitter & his Litecoin programming & his intentions to finally up the Litecoin marketing regime, which we truly have seen little of from Lite as of yet.

Here’s a link to the TradingView post for a closer look.
https://www.tradingview.com/chart/LTCUSD/qfojW6zP-LTCUSD-RSI-Trend-lines-Pattern-evaluation/

I also run an open Discord server for Crypto discussion & weekly contests of Fantasy League Crypto. This weeks is a $25BTC reward for the winner. The invite link below
https://discord.gg/ChcZxDa

Insurance About to Make a Big Jump into Crypto World: InsurePal ICO Starts on January 16

Source

Insurance is one of the sectors that are not usually a part of blockchain discussion. One of the reasons is the industry is so tightly regulated that not many businesses can compete, as they have to undergo severe legal and financial procedures to prove their models` sustainability.

The other is its organizational structure, as it is an industry controlled by big corporations with rigid structure, meaning the entry point is extremely high. And the later, but certainly not the least, is the challenge of how to effectively apply blockchain in insurance. It is not easy to come up with a disruptive new insurance structure than can work as an agile self-adjusting platform, store information the ledger, offer cheaper insurance and attract masses, all at the same time.

However, InsurePal is set to do everything mentioned above. The distributed insurance platform has reinvented the science of social proof to work similarly as a third-party deductible in banking. This means that the policyholder will be able to lower the price of his premium with the help of his trusted contacts. In other words, his endorsers also accept financial responsibility in case the policyholder makes at false-claim.

The simplest application of social proof would be in motor insurance, as explained in their whitepaper: John`s best friend Mary knows his driving habits and therefore endorses him. For that, she gets and immediate bonus, whilst John ends up with a cheaper premium. If nothing goes wrong, that is pretty much it. However, if John files an at-fault claim, Mary is the one held liable.

Therefore, social proof is peer pressure put to good use: it motivates beneficiary behavioural patterns and changes groups, and even society for better without aggressively invading privacy. And, blockchain`s immutable record is an impeccable way to store the social proof into the ledger. As such, it can serve as an important sing of one`s diligence and can be used to gain benefits across various insurances and even across different industries.

One of the InsurePal`s most exciting use cases is definitely the insurance of blockchain business transactions. The team is convinced this type of insurance will bring in the missing trust among all the stakeholders and serve as an additional boost of the rising decentralized economy. Certainly, the platform also promises many interesting features to incentivize both, the engaged crypto users and those who have not yet meet with the world of crypto.

InsurePal team is 30 members big, comprised of experienced and renown insurance professionals and blockchain, IT and communications experts with a track record of successful projects; a PoC published on GitHub and, what is rare but very promising, an innovative solution that was filed for patent protection in US and worldwide. For more information, please visit their webpage or read their whitepaper and mark January 16 as the starting day of their crowdsale.

Ripple Price Technical Analysis – XRP/USD To Decline Further

Source

Key Highlights

  • Ripple price is struggling to remain above the $0.2400 support and moved below $0.2380 against the US Dollar.
  • This is a major bearish trend line forming with resistance at $0.2450 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might decline further and it could even test the $0.2300 support in the near term.

Ripple price is under pressure against the US Dollar and Bitcoin. XRP/USD might extend its decline and trade towards $0.2300 or $0.2200.

Ripple Price Resistance

There was no major upside move in Ripple price above the $0.2500 level against the US Dollar. The price struggled to remain above the $0.2500 level and started a downside move. During the downside move, there was a break below a couple of important supports such as $0.2450 and the 50% Fib retracement level of the last upside wave from the $0.2200 swing low to $0.2670 high. The worst part was a close below $0.2450 and the 100 hourly simple moving average.

It seems like the price could continue to move lower towards $0.2300 in the near term. The next major support is near $0.2316 and the 76.4% Fib retracement level of the last upside wave from the $0.2200 swing low to $0.2670 high. However, there are chances of it declining back towards $0.2200 in the near term. On the upside, there is a major bearish trend line forming with resistance at $0.2450 on the hourly chart of the XRP/USD.

Ripple Price Technical Analysis XRP USD

The trend line resistance near $0.2450 is also around the 100 hourly SMA. Therefore, any major recovery should be limited by the $0.2450 level in the short term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD has now moved from the bullish to bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level and heading down.

Major Support Level – $0.2300

Major Resistance Level – $0.2450

Charts courtesy – Trading View, Kraken

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

What is Litecoin?

From $4.33USD on the 1st of January 2017 to $103.26USD on the 5th of December, what makes Litecoin (LTC) 🚀+ 2,384%?

We want to provide a high level, bare bones and at times quite crude overview of what makes Litecoin interesting.

“Being able to securely store it and still have easy access to your money is the holy grail of crypto. Once we solve that, then it could take over.” ~ Charlie Lee, Litecoin Creator
Coinmarketcap.com

This post is intended for those new to the cryptocurrency space, and who are looking for a high-level explanation of Litecoin and associated technologies. For readers who are already familiar with the basics and want to know more about Litecoin and other cryptocurrencies, we’d recommend the Litecoin Wiki and the original bitcoin whitepaper or Blockchain at Berkeley to start.

From Reddit’s “Explain it to me Like I’m Five”(ELI5) thread on Litecoin, thanks to HyperGamers.

Litecoin is a copy of Bitcoin, but it uses a different way of making sure the amount of money going to someone is correct. This was done to make it easier for a normal person to use their computer to find out if the amount of money is right. But now, some people built their own computers that are much better at checking if the amount of money sent is correct.
The info about the sending of money are placed into things called blocks. People try to find these blocks using computers. For Bitcoin, it is made so that each block is found roughly every 10 minutes — but for Litecoin, it is made so that each block is found every 2 and a half minutes.
When a block is found, the person whose computer found it gets a reward in either Bitcoin or Litecoin depending on which one they were trying to find. All of the rewards added together from everyone cannot go more than 21,000,000 Bitcoin and no more than 84,000,000 Litecoin.

It’s important to realise that Litecoin is a fork(copy) of the the bitcoin core, with the main differences being the faster processing and larger maximum supply of 84,000,000 LTC compared to Bitcoins 21,000,000 BTC.

Charlie Lee, founder of Litecoin is a former Google employee and earlier this year left Coinbase which he helped build as the Director of Engineering to focus on Litecoin;

Today’s my last day at @coinbase! I will miss working with you all.
I’m going to shift my focus to Litecoin now. To the moon! ? pic.twitter.com/Ys9dZwtTFO
— Charlie Lee (@SatoshiLite) June 10, 2017

Charlie’s move was well received by the market (Litecoin’s price). It was a significant move for the development and maturity of Litecoin as Charlie Lee was a know quantity with a proven history in cryptocurrencies. His move to pursue Litecoin’s development full-time was also a stark contrast to other altcoins which have volunteer developer communities working casually and part-time on the development of the technology.

As of the 5th December 2017 Litecoin’s market capitalisation was $5,609,567,185 USD.

Would you rather do what you do and have someone else invest your spare change in Litecoin’s growth?

Bamboo rounds up your spare change from the past month’s purchases and invests it in cryptocurrencies including Bitcoin, Ethereum, Litecoin and more. Check out GetBamboo.io.

If you’d like to know more about bitcoin, check out; What is Bitcoin?

If you’d like to know more about ethereum, check out; What is Ethereum?


What is Litecoin? was originally published in Bamboo Blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.

What is Litecoin?

From $4.33USD on the 1st of January 2017 to $103.26USD on the 5th of December, what makes Litecoin (LTC) 🚀+ 2,384%?

We want to provide a high level, bare bones and at times quite crude overview of what makes Litecoin interesting.

“Being able to securely store it and still have easy access to your money is the holy grail of crypto. Once we solve that, then it could take over.” ~ Charlie Lee, Litecoin Creator
Coinmarketcap.com

This post is intended for those new to the cryptocurrency space, and who are looking for a high-level explanation of Litecoin and associated technologies. For readers who are already familiar with the basics and want to know more about Litecoin and other cryptocurrencies, we’d recommend the Litecoin Wiki and the original bitcoin whitepaper or Blockchain at Berkeley to start.

From Reddit’s “Explain it to me Like I’m Five”(ELI5) thread on Litecoin, thanks to HyperGamers.

Litecoin is a copy of Bitcoin, but it uses a different way of making sure the amount of money going to someone is correct. This was done to make it easier for a normal person to use their computer to find out if the amount of money is right. But now, some people built their own computers that are much better at checking if the amount of money sent is correct.
The info about the sending of money are placed into things called blocks. People try to find these blocks using computers. For Bitcoin, it is made so that each block is found roughly every 10 minutes — but for Litecoin, it is made so that each block is found every 2 and a half minutes.
When a block is found, the person whose computer found it gets a reward in either Bitcoin or Litecoin depending on which one they were trying to find. All of the rewards added together from everyone cannot go more than 21,000,000 Bitcoin and no more than 84,000,000 Litecoin.

It’s important to realise that Litecoin is a fork(copy) of the the bitcoin core, with the main differences being the faster processing and larger maximum supply of 84,000,000 LTC compared to Bitcoins 21,000,000 BTC.

Charlie Lee, founder of Litecoin is a former Google employee and earlier this year left Coinbase which he helped build as the Director of Engineering to focus on Litecoin;

Today’s my last day at @coinbase! I will miss working with you all.
I’m going to shift my focus to Litecoin now. To the moon! ? pic.twitter.com/Ys9dZwtTFO
— Charlie Lee (@SatoshiLite) June 10, 2017

Charlie’s move was well received by the market (Litecoin’s price). It was a significant move for the development and maturity of Litecoin as Charlie Lee was a know quantity with a proven history in cryptocurrencies. His move to pursue Litecoin’s development full-time was also a stark contrast to other altcoins which have volunteer developer communities working casually and part-time on the development of the technology.

As of the 5th December 2017 Litecoin’s market capitalisation was $5,609,567,185 USD.

Would you rather do what you do and have someone else invest your spare change in Litecoin’s growth?

Bamboo rounds up your spare change from the past month’s purchases and invests it in cryptocurrencies including Bitcoin, Ethereum, Litecoin and more. Check out GetBamboo.io.

If you’d like to know more about bitcoin, check out; What is Bitcoin?

If you’d like to know more about ethereum, check out; What is Ethereum?


What is Litecoin? was originally published in Bamboo Blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.

Litecoin Price Analysis: LTC/USD Poised for Next Break

Litecoin price is consolidating above $100 against the US Dollar. LTC/USD is preparing for more gains above the $104.00 level. Key Talking Points Litecoin price is stable above the $100.00 level and looks poised for more gains against the US Dollar. Yesterday’s highlighted major bullish trend line with current support at $99.00 is intact on the hourly chart of LTC/USD. The pair is about to make an...

Source

Presenting InsurePal: Distributed Social Proof Insurance

Source

The insurance industry is flooded with a lot of problems, right from issues of identification to poor segmentation, privacy invasion and filing false claims. But those issues will be a thing of the past soon. InsurePal is a new insurance platform, changing the tide with modern and affordable solutions by leveraging the blockchain technology. Apart from ensuring that the insurance of your car or your house is hassle-free, it also insures your blockchain business, to help maneuver your way through the turbulent new technology. The amazing part? The entire system makes use of social proof from your peers. See the Whitepaper.

Putting social proof to work

Who knows you best? For the first time, an insurance will rely on peer to peer assessments and will also give incentives for this kind of valuable information as they are difficult to determine just with research or intellect. Social proof is a psychological system being leveraged by InsurePal so that your guarantee for cheaper premium is done not by your insurer, but by your friend, your family member or your neighbor, etc. It reduces the identity verification time of the individual and helps fast track insurance claims for both businesses and individuals, but most of all, it promises to reduce insurance costs for all of you who behave responsibly.

With social proof, your best friends will be able to confirm you are a safe driver and your potential business partners will be able to know for sure whether you can be trusted or not by relying on your Social Proof Trustscore rating. The fact is we use social proof in different situations every day: but now, our own diligence when assessing our social network will be used to give a more objective insight into one`s character and the best part, it will also be rewarded.

Insurance of tomorrow by harnessing the power of blockchain technology

In addition to the already known segments of insurance, InsurePal aims to intervene into a completely new insurance segments of life and business. The traditional insurance sector usually doesn’t offer niece coverage as it represents too big of a risk for their cumbersome structure. On the contrary, InsurePal is building a blockchain-based self-adjusting agile platform that will be able to use the mechanics of social proof for different segments of the already existing and also completely newly created insurance products.

So, how can you get a cheaper car insurance? Your friend Mary knows you are a safe driver who hasn`t had an accident in years. She can help you lower your costs by making a social proof guarantee for you. That means she will also be financially responsible in case you make at fault claim. InsurePal will give her an immediate incentive, and you will end up with a much cheaper insurance. Now you are all set and if you really are a responsible driver, neither of you has nothing to worry about!

What about securing blockchain transactions? This is a part when it gets really interesting! There are plenty of you out there who already do business online, trade in crypto or are at the moment seriously thinking about it. Now, you can make sure your business arrangements are secure. You and your business partner can sign up a smart contract in which you define the key parameters you have to abide prior making the transaction. So, if the other person breaches the agreement or something goes fishy, you still receive a financial compensation, collected from InsurePal and the other person`s social network. And the other side? Their Social Proof Trustscore reduces significantly and is visible to all the InsurePal network, clearly signalizing they are not trustworthy business partners.

InsurePal’s to launch pilot insurance in the UK

Historically, Great Britain is a cradle of insurance, making it one of the most challenging markets to penetrate. It is also a country where people, especially the young, pay enormous prices for car insurance. In fact, their insurance is usually more expensive than the price of their car.  All in all, a total of 30 million personal cars were insured, which saw 3 million qualified drivers getting peer-to-peer insurance. InsurePal is certain that if their platform works there, it can pretty much work anywhere!

InsurePal’s primacy with patented solution and tokenization

So instead of going around gathering data from unreliable (yet extremely expensive) sources, InsurePal’s platform leverages the social proof data without aggressively invading one`s privacy. Even more, the platform is to store an individual`s social proof on the distributed ledger, giving the users plenty of possibilities to receive additional benefits, incentivize their activities and transfer the social proof information to other entities. It is expected the insurance economy on blockchain will rapidly grow. For that, InsurePal is already making strategic partnerships for arbitrage and identity protection to make this a reality without ever compromising individual`s privacy.

Even more, insurance is one of the most tightly regulated industries. That is why not many businesses cannot practice it. Insurance companies need a legal approval that their insurance model withholds even the darkest possible predictions so they can be able to pay out all the premiums and claims. And, InsurePal is planning to obtain all the necessary licenses in UK and Europe or make important strategic partnerships that will enable the social proof insurance be used anywhere in the world. Even more, the social proof in insurance is so innovative that they have filed for a patent protection in the US and worldwide.

The ICO that will change the way you insure

Since InsurePal is revolutionizing the entire insurance industry with the blockchain technology, participating in the crowdsale will put you in a position to being part of the system that will help individuals and businesses use the blockchain to insure themselves and their businesses.

Become a member of InsurePal to build the blockchain-based, peer-to-peer insurance market.

Participate in the crowdsale here.

Or become social with us: Twitter, Facebook, Telegram, YouTube, BitcoinTalk.

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.

Provocative advertisement of Universa Blockchain at Times Square, New York

Source

On November 30, Times Square saw a provocative promotion video, depicting a well-known computer game character Pac-Man, eating up the row of dollar, Bitcoin and Etherium signs. The shown video symbolizes the transition to the so called New Money Order, which Universa is striving to achieve. The video has been uploaded to the Universa official YouTube channel on the 1 of December https://youtu.be/SImff8RPCFI.

Universa is a new-age blockchain platform introducing a new technology designed to fix the weaknesses of Bitcoin and Ethereum. According to the project WP, this will be achieved by improving smart contracts and the process of tokenization. As the developers claim, Universa is providing an easy scalable blockchain technology and interface suitable for creating smart contracts and applications based on its blockchain.

The application of technology includes such fields as logistics and cargo tracking, AI financial predictions, agriculture, food and medical supplies control and many more. The platform is intended to satisfy the needs of everyday users as well, for it has such applications as smart home automation, airbnb, carsharing, etc. providing a system for tokenization of everything that requires decentralization and transformation to the blockchain.

On October 28, the day of the Token Sale launch, the project attracted more than $ 10 million during the first three hours. The company’s goal is to raise $99 million. According to the project’s whitepaper, the collected funds are to be spent on the protocol development, the creation of the Universa fund for investing in the blockchain based businesses, marketing, legal issues and other purposes.

The head of the project is Alexander Borodich, Russia’s well-known angel investor with the history of over 90 start-ups in his portfolio and former marketing director at Mail.ru Group. Among the advisors, there’s John McAfee, the creator of the McAfee Security antivirus and founder of MGT Capital Investments, who is going to use the Universa platform to implement his own blocking project McAfee Coin, with which he hopes to “change the venture capital market.”

As of today, Universa has attracted over $19 million during the token sale and keeps raising the funds very quickly.

This is a sponsored post.

Drivechain Team Submits Two Sidechain-Related BIPs

Source

TheMerkle Drivechain Bitcoin Sidechains

Scaling Bitcoin is still a very talked-about topic in the developer community. On-chain scaling isn’t the approach most people are willing to explore right now. Instead, we see initiatives such as Drivechain focus on bringing sidechain technology to Bitcoin in the future. Two new proposals have been submitted to make this change occur sooner rather than later.

Will Bitcoin Ever get Sidechains?

The big question is, as it has always been, how Bitcoin will scale in the future. The integration of Segregated Witness hasn’t introduced many positive changes so far. This is mainly due to so few service providers having integrated this scaling solution so far. It is doubtful any major improvements will happen in this regard, although one never knows for sure what the future holds.

Regardless, there are still a few other options waiting to be explored. The Drivechain project has been of great interest to a lot of Bitcoin community members. This project aims to introduce sidechains, which can solve the majority of Bitcoin’s scaling problems and even introduce some innovative features to the ecosystem as a whole. 

Two new BIPs proposed by the Drivechain team relate to sidechain technology and mainly focus on gathering feedback for the code in its current form. After all, the project has been in development for nearly two full years, yet very few people had actually seen any of its code until a few weeks ago. With things finally heading in the right direction, we may finally see Bitcoin integrate sidechains.

One of these proposals focuses on a concept known as hashrate escrow. This is somewhat similar to 2-of-3 multisignature escrow, where the third party is a set of Bitcoin miners. However, miners can only sign transactions by directing hashpower to them for a specific amount of time. It’s an interesting approach which may be of great use to the Bitcoin ecosystem as a whole.

The second proposal involves something known as blind merged mining, which allows for the mining of extension blocks or sidechains. Miners would not have to perform any validations on the blocks themselves, which is rather interesting. As its name suggests, this process spans two or more blockchains, which is an interesting way to reuse hashpower to secure other chains. This proposal is well worth checking out, as it solves some of the more common problems associated with merged mining as we know it today.

Whether or not Bitcoin’s developers will approve the concept of sidechains remains to be seen, though. So far, this concept has received a lot of pushback, as it may eventually introduce new vulnerabilities to the Bitcoin network. This is why we need reviews of all the code written to date, which is exactly why the Drivechain team has shared these BIPs with the rest of the community.

Amazon Web Services Won’t Launch Blockchain-based Services, Says CEO Andy Jassy

Source

Despite rumors, the Amazon subsidiary will not be launching the same type of Blockchain-based services as its competitors, cites “other solutions.”

Despite previous rumors, Blockchain-based services will not be offered by Amazon Web Services (AWS) anytime soon.

CEO Andy Jassy made the announcement at the AWS annual re:Invent conference held in Las Vegas in late November. Jassy presented his views on Blockchain technology, claiming there are limited use cases of Blockchain “beyond the distributed ledger.” He also reiterated the company’s policy not to “build technology because we think it is cool.”

According to Jassy, there are a number of other solutions to the problems that Blockchain is supposed to solve. He stressed that the majority of the distributed ledgers that are available so far have very limited capabilities.

However, Jassy has not completely shut the door on the possibility of working on a Blockchain-based product in the future. He claimed that they are interested in ways that Blockchain could benefit their customers:

“We are very intrigued by what customers are ultimately going to do there.”

AWS competitors’ Blockchain efforts

Unlike AWS, rivals such as Microsoft and International Business Machines (IBM) are aggressively advancing projects related to Blockchain services and distributed ledgers. Over the course of the last couple of months, these companies have launched several Blockchain services and pilot projects in collaboration with their customers.

Brief profile of AWS

AWS is a subsidiary of major online retailer Amazon.com.  The company offers information technology infrastructure services in the form of web services to its customers. Among the firm’s products and solutions are storage and content delivery, cloud computing, databases, analytics, application services, and mobile services.

“The future of native advertising”: Native Video Box Announces ICO and NVB Token

Source

Blockchain-based AdTech startup Native Video Box conducts an ICO campaign to launch an independent native video advertising platform.

AdTech and digital advertising market is currently experiencing vertiginous growth. With video advertising becoming the fastest growing advertising segment in 2017, it’s time for the industry to make a step forward. That’s why Native Video Box aims at bringing together blockchain and the hottest AdTech trends to create the future of advertising.

What is Native Video Box?

Native Video Box (NVB) resembles YouTube like cryptocurrencies resemble traditional banks. It is an independent native video platform with native eco approach to advertising, which enabling sites to enhance users’ experience with highly relevant content. NVB shares 75% of ad views revenue with videos owners (15%) and website owners (60%): with those who actually create video content and those who bring it to the audience. These values and transparency grants our network fast organic growth and highest inventory quality standards, which magnetically attract the advertisers.

NVB Service is a literally turnkey solution for publishers: relevant native video with brand-safe licensed content, that will start to earn immediately via programmatic video ads.

On the other hand, Native Video Box solves the issue of video bloggers and other video content creators, who have not yet an option to spread their videos outside of their usual video hostings audience and be generously paid for that at the same time. According to our estimates, NVB will be able to offer content creators higher average income than YouTube can provide.

Native Video Box brings together the most cutting-edge video ad technologies in an entirely new ecosystem, created to benefit publishers and content creators. These values and transparency grants our network fast organic growth and highest inventory quality standards, which magnetically attract the advertisers.

How does it work?

NVB

NVB has two types of advertising inventory: in-stream pre-rolls (short ads shown before video content) and native video (when advertiser pays for the show of the video like a “sponsored article” unit to promote the advertiser’s product). The fact that we work with both types of ads, sold via programmatic ad service, makes our business model sustainable. In order to use in spot native advertising, that is actually similar to content videos, advertisers should provide content that matches the NVB editorial policy.

Example:

  1. User visits a page of the website from NVB network, for instance about tourism in Florida.
  2. We need a set of most relevant videos from the NVB video base to show as the thumbnails in our box.
  3. Using machine learning algorithms system automatically select that set for us- like these

NVB

They are shown in our unit to the visitor of the page, mentioned in p. 1

  1. The visitor clicks consciously on thumbnail of an interesting video and it opens wide: but before the video itself, visitor sees the pre-roll ad (advertising video up to 15 seconds in length).
  2. Advertising view revenues is shared among webmasters (60%), right owners (15%) and a platform (25%).

Why Tokenization?

NVB tokens are the currency of the service: all the transactions among system participants are conducted solely in tokens. To acquire ad impressions, advertiser needs to purchase NVB tokens.

Due to сryptocurrency nature of NVB tokens, it’s an easy way to make payments for each individual blogger or publisher in variety of countries, solving the problems with financial clearing and regulatory paperwork as well as high payment commissions of fiat banks (for currencies conversions).

By far, Native Video Box has developed an MVP with all machine learning stuff that has acquired local business traction and now has been refactoring the project to go global and implement blockchain. NVB tokens Pre-sale starts on December, 1 with significant benefits for early birds.

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.

Sports Media Platform Scorum Raised 800k in Pre-ICO, Token Sale Launches on January 14

Source

By combining the blockchain technology with a strong economic model, the new platform will allow sports media websites to reward their audience.

Scorum is an innovative blockchain-based platform that aims to transform the sports media sector by allowing people to be rewarded for their passion for sports. Established in 2017, the startup will change the way sports fans participate in the industry.

“While sports media websites profit from 8.5 million monthly visits, their audience doesn’t get a cent. We decided to solve this problem by combining blockchain technology with a strong economic model,” said Scorum CEO, Vladislav Artemyev.

“Our solution has three core principles: supporting  cryptocurrency with real economy; rewarding all of the participants of the Scorum ecosystem; and distributing benefits in a clear and fair manner moderated by the user community.”

The project has already gained support from such prominent athletes as NBA champion with Cleveland Cavaliers, Timofey Mozgov, and UEFA Champions League winner with FC Barcelona, Alexander Hleb. “It’s the only sports media platform where sports enthusiasts have complete freedom to express themselves and be rewarded with cryptocurrency,” Hleb says.

After raising $800,000 in a pre-sale a few days ago, Scorum is now ramping up for an ICO that will begin on January 14, 2018. The company is going to distribute 18.6 million of its Scorum Coins (SCR), which can then be used on the Scorum platform. The majority of funds will be used on further development of the platform, while the remaining sum will go on marketing and legal purposes.

Scorum includes three main services:

  • The sports optimized blogging platform that will provide cryptocurrency rewards for both content creators and curators via a transparent economic model. Scorum community members will be able to get payments for voting, commenting, publishing posts, and uploading photos, while sports writers will get an access to data analytics, special editorial tools, and a built-in photo database.
  • The AI-enabled statistics center that will let sports fans stay up-to-date with the latest news by watching livestreams and browsing stats about their favorite athletes or teams. Besides, they will be able to acquire tickets and other sports items and services. Meantime, content creators can use the centers to embed interactive infographics into their publications.
  • The commission-free betting exchange will enable users to easily place bets against each other without relying on third parties. Moreover, users can trade in real-time throughout the sporting event.The registration on the platform is completely transparent and includes no commission or hidden fees.

Once launched, Scorum will become the first blockchain-based sports media platform. The startup aims to be a key player in the segment with a potential audience of one billion users worldwide.

First CryptoTenge, Now State Association: Kazakhstan Wakes Up To Cryptocurrency

Source

Kazakhstan is taking new steps to let Blockchain and cryptocurrency become a state-supported technology.

Kazakhstan is considering state licensing of a Blockchain and cryptocurrency lobby group to promote usage and acceptance of the emerging technology.

As local news outlet Astana Times reports referencing Kapital.kz, the Blockchain and Cryptocurrency Association has applied for recognition from the country’s government as a legal entity to begin official activities.

Kazakhstan has already taken various steps to investigate the potential behind both Blockchain and Bitcoin, appearing to adopt a more broadly tolerant attitude in contrast to neighboring Russia.

In July, a ‘Blockchain pact’ in conjunction with Russian platform Waves saw participants air the wish to become the “Blockchain Singapore.”

The country is also sponsoring its own state cryptocurrency, the CryptoTenge, a digital asset tied to fiat which would likely function in a similar way to Russia’s CryptoRuble.

At the same time, however, cryptocurrencies such as Bitcoin look set to enjoy a more supportive future.

“Our main goal is to prescribe the rules of the game in the Blockchain market and cryptocurrency in Kazakhstan together with the regulator [the National Bank],” Astana Times quotes Association Chair Yessin Butin as saying.

“There are no companies operating in the Blockchain market in Kazakhstan, but there are more companies that see the promise of technology for themselves.”

Competition is hotting up among CIS nations to find the magic recipe for crypto, with contrasting approaches emerging on an increasingly frequent basis.

This week also saw Belarus announce it would potentially legalize Bitcoin exchanges and make the government-approved outlets more widely available.

Butin added:

“People are looking for an alternative and find it in the form of cryptocurrency.”

New Development, Bulletproofs, Can Make Bitcoin Transactions Confidential

Source

A new development could have a major impact on Bitcoin, Litecoin, and other similar platforms. A group of researchers at Stanford University, University College London, and Blockstream have announced a method for making transactions truly confidential. Known as Bulletproofs, this technology would not only enable privacy, but it would also aid in scalability, enabling many more transactions on the blockchain than is currently possible.

Bitcoin is the most significant crypto that could benefit from this development. It is often described as confidential, but in reality it is not. Tracing transactions is difficult, but possible. Some competing cryptos, such as Monero, Dash, and Zcash do have this capability. In fact, Monero’s ability to process truly confidential transactions is considered its most significant asset. The extent to which confidentiality will give these cryptos an advantage over Bitcoin in the long run is debatable, but nevertheless Bitcoin advocates have long sought to give BTC this feature.

There are already methods of creating confidentiality in Bitcoin, the two most notable being zkSnarks and ringCT. These methods, however, have shortcomings. For example, they require much larger transactions, which is a serious drawback given the scalability issue. Also, they require a so-called “trusted setup,” which necessitates both parties trusting that the transaction was properly configured. The team behind Bulletproofs claims that their platform eliminates both of these issues.

The development proposed by the Stanford team is one of several upgrades needed by Bitcoin as it faces increased competition from altcoins. Although Bitcoin continues to be dominant in the crypto space, there is no doubt that altcoins often have advanced features that many find desirable. It is for this reason that developers are working on modifications, some of which significantly alter Bitcoin’s original code. Segregated Witness is the best known and most controversial of these modifications. Others include the Lightning Network and the recently cancelled block size increase.

It is worth noting that some crypto advocates argue against adding anonymity to cryptocurrencies, asserting that traceable cryptos are preferable. They believe that transparency is needed for governments and the general public to accept crypto as legitimate. It is well known, after all, that cryptocurrency has a reputation for being used by organized criminals and other nefarious groups. Also, governments are likely to only support cryptos that cannot be used to evade taxes or launder money, making some type of transparency a must.

Bitcoin is not the only major crypto that is working on confidential transactions. The Ethereum team has already successfully tested zkSnarks, which will be added as part of a future upgrade. Litecoin and a number of lesser altcoins are also working on confidentiality. The issue of confidential transactions could also be impacted by atomic swaps, which will enable cross-chain transactions and are currently being tested.

The central issue of confidentiality revolves around the core ideals of blockchain-based currencies. Like decentralization, confidentiality takes control away from governments and central banks, and give it to individuals. It is all but certain that for this reason a truly confidential crypto will go mainstream. Bulletproofs could be part of what makes this happen.

Feature image via BigStock.

Latest news

LTCUSD inside trading channel. Higher lows and higher heights forming bullish pattern. We may see a correction back to trendline before we get another push to $80. Litecoin is one of the steadiest coins in this year with consistent bullish run, beside SEPT correction, nothing major happening. I still see this coin undervalued relative to others.

LTC

ETHUSD is getting closer to our target $400. This pattern in from the book. It was really easy to see it coming. Lower ascending trendline with higher lows acting as support, and with upper horizontal trendline with two, almost flat highs, acting as resistance. Once we get over this, ETH will form new massive breakout range which could take price way over $500.

ETH

We have arrived in the last corner of the triangle pattern. Either we breakout from here above $0.25 or Ripple will test lower support $0.2 again. If this is the case, lower support should be taken as advantage to buy more coins. We said it before, XRP is not in bullish pattern yet, its forming one form SEPT, but we need a break beyond resistance to get this coin moving upward.

XRP

Stash Releases Privacy Centric Beta Wallet for Android

Source

Stash Releases Privacy Centric Beta Wallet for Android

Just recently at the Texas Bitcoin Conference, the CTO and co-founder of the company Stash, Chris Odom, revealed the beta release of the Stash Wallet. The Stash Wallet was originally issued to Stash Node Pro owners, but the privacy-centric wallet which supports Bitcoin and Bitcoin Cash is now available to the general public.

Also read: CME Group Plans to Launch Bitcoin Futures December 10

Stash Wallet Released to the General Public

Stash Releases Privacy Centric Beta Wallet for Android The developers of the Stash Node Pro a privacy-enhanced full bitcoin node, have recently released the firm’s beta wallet software on Google Play. Chris Odom announced the beta launch at the Texas Bitcoin Conference this past October, and the team recently appeared on the Crypto Show Broadcast last week explaining the wallet’s features.

Stash Wallet is a non-custodial Simplified Payment Verification (SPV) client that gives users total control over their private keys. The platform also offers a broader range of privacy-centric services which include Hierarchical Deterministic (HD) address architecture, end-to-end encrypted messaging, Stash Node Pro pairing over Tor, complex input script transactions, and reusable payment address support.

“Stash Wallet is a free and easy-to-use, standalone mobile app and bitcoin wallet. It ‘pairs’ with your Stash Node Pro, giving you full roaming access to your personal copy of the blockchain,” explains the company.

Stash Releases Privacy Centric Beta Wallet for Android Stash says they are proud to keep financial autonomy at the top of their products priorities.

Utilizing Reusable Payment Codes and Open Transactions

Last weekend on the Crypto Show, the developers of the Android Stash Wallet, Hiro White and Jon Vaage, explain how the new wallet software offers greater financial autonomy. The developers detail how Open Transactions work on the new client, explain Diffie-Hellman transaction privacy, while also using the mobile app’s encrypted messaging during the broadcast.

Both the reusable payment codes (BIP47) and Open Transactions protocols alone add a stronger level of privacy to the user experience. Reusable payment codes combine HD wallet architecture with a Diffie-Hellman key exchange. Open Transactions is a network of servers offering a software library sometimes called a “PGP for money.”

“Open-Transactions democratizes financial and monetary actions,” explains the Github repository.

You can use it for issuing currencies/stock, paying dividends, creating asset accounts, sending/receiving digital cash, writing/depositing cheques, cashier’s cheques, creating basket currencies, trading on markets, scripting custom agreements, recurring payments, escrow, etc.

Stash Releases Privacy Centric Beta Wallet for Android Stash wallet also supports bitcoin cash (BCH), and wallet users can utilize end-to-end encrypted messaging as well.

Other SPV Clients Offering BIP47 Support

Stash Wallet joins the rest of the SPV clients that aim to bring better privacy to the bitcoin wallet universe such as Samourai wallet, and the upcoming iOS client the ‘Billion’ wallet. Stash Wallet, Samourai, and Billion are the only SPV wallets on the market that utilize reusable payment codes. At the Texas Bitcoin Conference Stash’s co-founder, Odem also explains the new beta Stash Wallet supports bitcoin and bitcoin cash, alongside the testnets for both digital assets as well. Odem tells the crowd at the Texas event more cryptocurrencies will be implemented into the wallet in the near future.

What do you think about the new Stash Wallet beta? Let us know what you think in the comments below.

Disclaimer: Bitcoin.com does not endorse nor support this product/service.Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images via Shutterstock, and Stash. 

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’sWiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Stash Releases Privacy Centric Beta Wallet for Android appeared first on Bitcoin News.

Ripple Price Technical Analysis – XRP/USD Remains in Uptrend

Source

Key Highlights

  • Ripple price is moving higher from the $0.2050 support zone against the US Dollar.
  • There is an ascending channel forming with support near $0.2320 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to continue gaining pace as long as it stays above $0.2300 and the 100 hourly simple moving average.

Ripple price is slowly gaining bullish momentum against the US Dollar and Bitcoin. XRP/USD is currently well supported on the downside near $0.2300.

Ripple Price Support

After a sharp correction towards $0.2050, Ripple price found support against the US Dollar. The price started an upside move and traded above the $0.2300 and $0.2400 resistance levels. It recently tested the $0.2500 resistance where it struggled and started a downside correction. It has moved below the 23.6% Fib retracement level of the last wave from the $0.2050 low to $0.2500 high.

However, the downside move is finding support near $0.2300 and 100 hourly simple moving average. Moreover, the 38.2% Fib retracement level of the last wave from the $0.2050 low to $0.2500 high also acted as a support. It seems like there is an ascending channel forming with support near $0.2320 on the hourly chart of the XRP/USD pair. As long as the pair is above the $0.2300 support and the 100 hourly SMA, it remains in an uptrend.

Ripple Price Technical Analysis XRP USD

It will most likely resume its upside move towards $0.2500 in the near term. Above $0.2500, the price could move towards the last swing high of $0.2650. On the downside, a break below the $0.2300 support would call for more declines. The next important support in the mentioned case is around $0.2150.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level.

Major Support Level – $0.2300

Major Resistance Level – $0.2500

Charts courtesy – Trading View, Kraken

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

Litecoin (LTC) now listed on Gatecoin

HONG KONG — 21 NOVEMBER 2017 — Gatecoin is very excited to announce that we have listed litecoin (LTC), a major cryptocurrency and one of the first serious alternatives to bitcoin (altcoins) on our exchange.

Clients can now trade LTC with BTC, ETH and EUR.

LTCUSD and LTCHKD pairs are also available, however, USD and HKD transfers are still on hold for several weeks while we work to activate our new payment processing solutions. See last week’s update for details.

Buy/sell LTC today!

What is litecoin?

Like bitcoin, litecoin was designed to be a peer to peer digital currency that enables high speed and low-cost payments between two parties with an internet connection. Also, like bitcoin, litecoin is an open source protocol that is maintained by a decentralized network of miners, nodes and developers. No company or central authority controls litecoin.

But, unlike bitcoin, litecoin facilitates faster transaction confirmation times and better storage efficiency, enabling its network to support higher transaction volumes.

Who created litecoin?

Litecoin was first announced in October 2011, two years after bitcoin’s software had been released. The founder of litecoin, Charlie Lee, is a former Google engineer and up until very recently was the CTO of the major US based bitcoin wallet service Coinbase. He is also the brother of Bobby Lee, the CEO of Chinese crypto exchange BTCC.

Charlie Lee created litecoin not to replace bitcoin, but rather to act as a complementary alternative. Charlie has stated that he believes “even with worldwide adoption of bitcoin, another alternative will be needed to aid in transactions to ensure they are both fast and low cost.”

How does litecoin work?

If you don’t understand how bitcoin works (the blockchain and mining) click here.

Litecoin has the same core principles of bitcoin and is built on blockchain technology. Fundamentally, the blockchain works the same way with both bitcoin and litecoin using the Proof of Work algorithm for mining.

More specifically, bitcoin mining uses the secure hash algorithm 256-bit (SHA 256). Hashing is required for the process of solving a cryptographic math problem or “block”. Gone are the days where an average CPU or GPU could mine bitcoin because the hash rates have increased so significantly that consumer level products can no longer compete.

Bitcoin mining currently requires enormous computational power and the industry uses application-specific integrated circuit (ASIC) chips, which are customized specifically for bitcoin mining, rather than general-purpose functions. ASIC chips are incredibly expensive, which has enabled a small group of bitcoin mining companies (mostly based in China), benefiting from economies of scale to have significant control over the bitcoin network.

Litecoin uses a different algorithm called Scrypt in combination with SHA 256. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. Therefore, litecoin can still be mined with consumer-grade technology, such as custom PCs with multiple graphics cards which gives them faster memory.

What are the key differences between litecoin and bitcoin?

1. Speed

One of the most notable differences between the two is that litecoin has 4x faster block confirmations at 2.5 minutes per block compared to bitcoin’s 10 minutes. This means that litecoin is able to process more transactions, which is highly beneficial for usability. The faster transaction or block times also reduces the threat of cyber-attacks and double spending. Litecoin also has four times the supply of bitcoin, with a cap at 84 million litecoin in contrast to bitcoin’s 21 million.

2. Scalability

Litecoin does not suffer the same scaling problem of its older brother bitcoin. Bitcoin blocks are consistently full, which further slows down confirmation and transaction times. Litecoin blocks are not full and are currently not plagued by a scaling problem.

3. Community consensus

Litecoin and bitcoin are both open source protocols, developed and improved by their respective communities. Similar to bitcoin, any change to litecoin requires consensus among the community. However, bitcoin requires a 95% consensus compared to litecoin’s 75%, which means new innovations and ideas can be implemented more rapidly when compared to bitcoin. The failed Segwit2x proposal is a perfect example of the community refusing to agree on a how to develop bitcoin.

4. An active founder

Bitcoin has suffered from this lack of community consensus, through forking, predominantly because people have their own beliefs about what bitcoin should be and of what Satoshi Nakamoto envisioned for bitcoin. Having litecoin’s creator Charlie Lee known and actively involved has created cohesion among the community and ensured that litecoin has a guiding ideology and pragmatic future plan. Charlie Lee has been notoriously outspoken on twitter and even wrote a letter to the litecoin mining community influencing them to integrate Segregated Witness (SegWit).

5. Less spam

Bitcoin has suffered from several spam attacks, which slows transactions and causes frustration for users of the network. Spam transactions are transactions which create extra load on the blockchain network due to not following bitcoin’s best practices, either maliciously or out of ignorance. Litecoin avoids these spam transactions by charging a sender fee for every output. For instance, using bitcoin, someone could send 15 transactions with one fee, but when using litecoin each of the 15 transactions would have their own fee. This makes spam attacks costly and less likely, which helps keep the network scalable and running at optimal speed.

Why did Gatecoin decide to list Litecoin now?

During Charlie Lee’s time at Coinbase, litecoin primarily rode the coattails of bitcoin, developing and advancing alongside the major cryptocurrency. However, recently litecoin has veered in front of bitcoin in terms of development and has been working as a test network for bitcoin.

One such notable test is litecoin’s SegWit integration that fixes transaction malleability and facilitates long-term and secure scaling solutions. Litecoin has also successfully tested other innovative ideas such as atomic swaps and is focused on the future of cryptocurrencies.

Litecoin has an active development community which is consistently working to improve the network. Click here to view the litecoin developers’ 2017 roadmap and see a list of the development team. Litecoin’s development community on github has made over 14,000 commits, which has seen a steady increase, especially in 2017. In comparison, the bitcoin core development group has made over 15,000 commits to the bitcoin github.

The number of contributions to litecoin’s code from Oct 2009 to Nov 2017.

Investors may also see litecoin as a hedge against the potential volatility that will accompany any future bitcoin or ethereum forks.

Gatecoin is always looking to add more cryptocurrencies and tokens to our exchange. Litecoin has proven to be successful in the market and has gained a lot of popularity among traders and merchants.

Charlie Lee on CNBC discussing the future of bitcoin and litecoin.

What hardware wallet providers support Litecoin?

The safest place to keep your litecoin is on a hardware wallet, a device that enables you to store your private key offline. Gatecoin strongly recommends that you keep any crypto-asset funds in a hardware wallet. Litecoin is supported by a few hardware wallet providers such as:

Ledger Nano S: offers wide support for altcoins, including litecoin. The Nano S sells for around USD 65, making it one of the most affordable hardware wallets on the market.

TREZOR: This is one of the oldest hardware crypto wallet providers. Trezor also supports various altcoins, such as litecoin and is priced around USD 100.

KeepKey: a newer hardware wallet provider. It is slightly bigger than both TREZOR and Ledger hardware wallets due to its larger screen. The firm was acquired by Shapeshift in 2016 and its wallet also sells for around USD 100.

Hardware wallet best practices:

Find a hardware wallet that best suits you and your needs. Gatecoin is not liable for the performance of these hardware wallets.

Please conduct your own research and due diligence before making a purchase. Customer reviews can be an excellent source of information.

We suggest making test transactions with small amounts before conducting larger transactions to make sure the funds are successfully transferred to the wallet address.

While hardware wallets keep your keys safe offline, if you forget or misplace your pin or code then you can lose access to your cryptocurrencies and tokens. Therefore always remember your PIN code.

You should also write your backup seed key on a piece of paper and keep it safe. We recommend you make 2–3 copies of this key and keep all copies in separate safe places.

Where can I find out more about Litecoin?

Trade LTC now at Gatecoin.com

Thank you for using our service,

The Gatecoin Team

Risk Disclaimer

Trading blockchain assets such as bitcoin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade blockchain assets you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with the trading of digital assets, and seek advice from a licensed financial advisor if you have any specific concerns.


Litecoin (LTC) now listed on Gatecoin was originally published in Gatecoin Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Litecoin (LTC) now listed on Gatecoin

HONG KONG — 21 NOVEMBER 2017 — Gatecoin is very excited to announce that we have listed litecoin (LTC), a major cryptocurrency and one of the first serious alternatives to bitcoin (altcoins) on our exchange.

Clients can now trade LTC with BTC, ETH and EUR.

LTCUSD and LTCHKD pairs are also available, however, USD and HKD transfers are still on hold for several weeks while we work to activate our new payment processing solutions. See last week’s update for details.

Buy/sell LTC today!

What is litecoin?

Like bitcoin, litecoin was designed to be a peer to peer digital currency that enables high speed and low-cost payments between two parties with an internet connection. Also, like bitcoin, litecoin is an open source protocol that is maintained by a decentralized network of miners, nodes and developers. No company or central authority controls litecoin.

But, unlike bitcoin, litecoin facilitates faster transaction confirmation times and better storage efficiency, enabling its network to support higher transaction volumes.

Who created litecoin?

Litecoin was first announced in October 2011, two years after bitcoin’s software had been released. The founder of litecoin, Charlie Lee, is a former Google engineer and up until very recently was the CTO of the major US based bitcoin wallet service Coinbase. He is also the brother of Bobby Lee, the CEO of Chinese crypto exchange BTCC.

Charlie Lee created litecoin not to replace bitcoin, but rather to act as a complementary alternative. Charlie has stated that he believes “even with worldwide adoption of bitcoin, another alternative will be needed to aid in transactions to ensure they are both fast and low cost.”

How does litecoin work?

If you don’t understand how bitcoin works (the blockchain and mining) click here.

Litecoin has the same core principles of bitcoin and is built on blockchain technology. Fundamentally, the blockchain works the same way with both bitcoin and litecoin using the Proof of Work algorithm for mining.

More specifically, bitcoin mining uses the secure hash algorithm 256-bit (SHA 256). Hashing is required for the process of solving a cryptographic math problem or “block”. Gone are the days where an average CPU or GPU could mine bitcoin because the hash rates have increased so significantly that consumer level products can no longer compete.

Bitcoin mining currently requires enormous computational power and the industry uses application-specific integrated circuit (ASIC) chips, which are customized specifically for bitcoin mining, rather than general-purpose functions. ASIC chips are incredibly expensive, which has enabled a small group of bitcoin mining companies (mostly based in China), benefiting from economies of scale to have significant control over the bitcoin network.

Litecoin uses a different algorithm called Scrypt in combination with SHA 256. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. Therefore, litecoin can still be mined with consumer-grade technology, such as custom PCs with multiple graphics cards which gives them faster memory.

What are the key differences between litecoin and bitcoin?

1. Speed

One of the most notable differences between the two is that litecoin has 4x faster block confirmations at 2.5 minutes per block compared to bitcoin’s 10 minutes. This means that litecoin is able to process more transactions, which is highly beneficial for usability. The faster transaction or block times also reduces the threat of cyber-attacks and double spending. Litecoin also has four times the supply of bitcoin, with a cap at 84 million litecoin in contrast to bitcoin’s 21 million.

2. Scalability

Litecoin does not suffer the same scaling problem of its older brother bitcoin. Bitcoin blocks are consistently full, which further slows down confirmation and transaction times. Litecoin blocks are not full and are currently not plagued by a scaling problem.

3. Community consensus

Litecoin and bitcoin are both open source protocols, developed and improved by their respective communities. Similar to bitcoin, any change to litecoin requires consensus among the community. However, bitcoin requires a 95% consensus compared to litecoin’s 75%, which means new innovations and ideas can be implemented more rapidly when compared to bitcoin. The failed Segwit2x proposal is a perfect example of the community refusing to agree on a how to develop bitcoin.

4. An active founder

Bitcoin has suffered from this lack of community consensus, through forking, predominantly because people have their own beliefs about what bitcoin should be and of what Satoshi Nakamoto envisioned for bitcoin. Having litecoin’s creator Charlie Lee known and actively involved has created cohesion among the community and ensured that litecoin has a guiding ideology and pragmatic future plan. Charlie Lee has been notoriously outspoken on twitter and even wrote a letter to the litecoin mining community influencing them to integrate Segregated Witness (SegWit).

5. Less spam

Bitcoin has suffered from several spam attacks, which slows transactions and causes frustration for users of the network. Spam transactions are transactions which create extra load on the blockchain network due to not following bitcoin’s best practices, either maliciously or out of ignorance. Litecoin avoids these spam transactions by charging a sender fee for every output. For instance, using bitcoin, someone could send 15 transactions with one fee, but when using litecoin each of the 15 transactions would have their own fee. This makes spam attacks costly and less likely, which helps keep the network scalable and running at optimal speed.

Why did Gatecoin decide to list Litecoin now?

During Charlie Lee’s time at Coinbase, litecoin primarily rode the coattails of bitcoin, developing and advancing alongside the major cryptocurrency. However, recently litecoin has veered in front of bitcoin in terms of development and has been working as a test network for bitcoin.

One such notable test is litecoin’s SegWit integration that fixes transaction malleability and facilitates long-term and secure scaling solutions. Litecoin has also successfully tested other innovative ideas such as atomic swaps and is focused on the future of cryptocurrencies.

Litecoin has an active development community which is consistently working to improve the network. Click here to view the litecoin developers’ 2017 roadmap and see a list of the development team. Litecoin’s development community on github has made over 14,000 commits, which has seen a steady increase, especially in 2017. In comparison, the bitcoin core development group has made over 15,000 commits to the bitcoin github.

The number of contributions to litecoin’s code from Oct 2009 to Nov 2017.

Investors may also see litecoin as a hedge against the potential volatility that will accompany any future bitcoin or ethereum forks.

Gatecoin is always looking to add more cryptocurrencies and tokens to our exchange. Litecoin has proven to be successful in the market and has gained a lot of popularity among traders and merchants.

Charlie Lee on CNBC discussing the future of bitcoin and litecoin.

What hardware wallet providers support Litecoin?

The safest place to keep your litecoin is on a hardware wallet, a device that enables you to store your private key offline. Gatecoin strongly recommends that you keep any crypto-asset funds in a hardware wallet. Litecoin is supported by a few hardware wallet providers such as:

Ledger Nano S: offers wide support for altcoins, including litecoin. The Nano S sells for around USD 65, making it one of the most affordable hardware wallets on the market.

TREZOR: This is one of the oldest hardware crypto wallet providers. Trezor also supports various altcoins, such as litecoin and is priced around USD 100.

KeepKey: a newer hardware wallet provider. It is slightly bigger than both TREZOR and Ledger hardware wallets due to its larger screen. The firm was acquired by Shapeshift in 2016 and its wallet also sells for around USD 100.

Hardware wallet best practices:

Find a hardware wallet that best suits you and your needs. Gatecoin is not liable for the performance of these hardware wallets.

Please conduct your own research and due diligence before making a purchase. Customer reviews can be an excellent source of information.

We suggest making test transactions with small amounts before conducting larger transactions to make sure the funds are successfully transferred to the wallet address.

While hardware wallets keep your keys safe offline, if you forget or misplace your pin or code then you can lose access to your cryptocurrencies and tokens. Therefore always remember your PIN code.

You should also write your backup seed key on a piece of paper and keep it safe. We recommend you make 2–3 copies of this key and keep all copies in separate safe places.

Where can I find out more about Litecoin?

Trade LTC now at Gatecoin.com

Thank you for using our service,

The Gatecoin Team

Risk Disclaimer

Trading blockchain assets such as bitcoin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade blockchain assets you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with the trading of digital assets, and seek advice from a licensed financial advisor if you have any specific concerns.


Litecoin (LTC) now listed on Gatecoin was originally published in Gatecoin Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

What Is the Bitcoin Cash Fund?

Source

TheMerkle Bitcoin Cash Fund

The launch of Bitcoin Cash has been a mixed bag for the overall cryptocurrency community. It is clear that Bitcoin Cash will remain an altcoin with the Bitcoin name attached for quite some time to come. However, the launch of the Bitcoin Cash Fund may shake things up quite a bit. It is an interesting venture, to say the least.

The Bitcoin Cash Fund is Intriguing

In the world of cryptocurrency, community members and investors often look to developers to sort out everything related to a specific currency. Whether it is coding, marketing, developing new tools, raising awareness, or even speaking at conferences, developers are expected to do everything these days. That is not a sustainable vision for the future, as developers should be allowed to focus on the coding aspect of their jobs first and foremost. This is why the Bitcoin Cash community is working on a venture known as the Bitcoin Cash Fund.

This idea started out as a venture to “crowdfund” US$200 worth of BCH to produce a short animation video about BCH and publish pamphlets to raise additional awareness. So far, the Bitcoin Cash Fund has received over US$17,000 from various sources. This means a lot of money has been raised to market this altcoin. With a few dedicated volunteers on board as well, things are looking bright for this initiative.

It is good to see the Bitcoin Cash community come together at such an important time in the history of this cryptocurrency. Right now, most people focus on the speculative side of BCH, but it is obvious there is a lot more to this currency than most people give it credit for. Pushing for increased adoption will not be easy, even though things have steadily progressed in that department. This will be the main focus of the Bitcoin Cash Fund moving forward, as the community-driven effort seeks to push BCH adoption to new heights.

One of the key areas to address immediately is ensuring the Bitcoin Cash Fund remains efficient and effective. With nearly 100 volunteers already dedicating their time and effort, things are off to a good start. However, there is still no framework to process donations to the Bitcoin Cash Fund and then to the community in exchange for their involvement. Considering the need to be as decentralized and transparent as possible, a proper approach will need to be found.

The current plan of action doesn’t revolve around the Bitcoin Cash Fund handing projects down for community members to work on. Instead, it will work the other way around. Community members will be the driving force behind new projects, which means they are free to come up with crazy ideas as they see fit. It’s a solid approach, assuming there will be enough proposals to ensure adoption can be achieved. Moreover, project leaders can put in proposals for funding, which will then be filled by the Bitcoin Cash fund.

It is certainly true there are still a lot of details yet to be worked out. Governance of the Bitcoin Cash fund, for example, will be a critical area to tackle. A two-of-three multisignature wallet address will be created to set things up initially. As this project scales, other solutions may need to be considered, though. Three board members will be running the show for the time being, but this is also subject to change as time progresses.

Troy University’s Malavika Nair Says Bitcoin Is Something Different Than a Classic Bubble

Source

Troy University’s Malavika Nair Says Bitcoin Is Something Different Than a Classic Bubble

Malavika Nair of Troy University describes bitcoin’s price phenomenon as something other than a classic bubble. Bubbles, she said, do not go up, up, up, then down a bit, only to go up, up, up in price a full step higher than before. “Whatever it is,” she reiterated, referring to bitcoin’s valuation, “it is definitely not a bubble.” More than just speculation, every metric, from wallets to transactions, bitcoin grows over time. A bubble, bitcoin ain’t.

Also readAntiwar.com Expands Cryptocurrency Acceptance for Enhanced Privacy

The Hate Hate Produced: Bitcoin as a Bubble

Bubble Boys of Hate

That doesn’t stop bubble boys of hate, of course. Goldman Sachs CEO Lloyd Blankfein recently Twitter-flirted with bitcoin, giving it a wink. That ended rather quickly. Revealing he’s “kind of an old dog to be absorbing that kind of a new trick” who is “not comfortable,” lamenting how “maybe bitcoin is kind of a bubble.”

The Hate Hate Produced: Bitcoin as a Bubble

Citing how hard it was to unpack bitcoin in a mere 750 words, pundit Ron Insana wrote, “Bitcoin is in a bubble, make no mistake,” it’s going to fail when “excessive optimism far outweighs normal rational expectations.”

Legacy bankers at UBS in a white paper wrote of “the sharp rise in cryptocurrency valuations in recent months” and how it “is a speculative bubble.” They don’t even believe bitcoin will be a currency. The Oracle of Omaha, Warren Buffett, agreed, “You can’t value bitcoin because it’s not a value-producing asset…it’s a real bubble in that sort of thing.”

Richard Turnill of Blackrock, which handles 6 trillion (yes, trillion) in assets, first argued “there’s no inherent right or wrong” price for bitcoin, but then quickly retreated by asserting it has “many characteristics of a bubble.” Not to be outdone, New York University’s Stern School of Business’, Nouriel Roubini, labeled basically the entire crypto market “a gigantic speculative bubble.”

Antifragile

By definition, bubbles are blown up easily and susceptible to pop by virtue of their thin layer of substance. One wrong move, whoosh, it all goes away.

Bitcoin has proven its resilience in the face of grave mortal wounds: exchanges hacked just as the cryptocurrency was gaining momentum, losing millions and millions; scandals plaguing it in the popular media, seemingly every day a new drug kingpin or assorted derelict was using it; charges of terrorism, money laundering, and even the Chinese government crackdown in recent weeks have all conspired to bring down bitcoin.

If it were a veneer, a shiny thing for fools, bitcoin would have long ago died. And yet here it is.

The Hate Hate Produced: Bitcoin as a Bubble

In his masterful, Antifragile: Things That Gain From Disorder, author Nassim Nicholas Taleb describes how to evaluate the above opinions (though he wasn’t writing about bitcoin), “To me, every opinion maker needs to have ‘skin in the game’ in the event of harm caused by reliance on his information or opinion,” he urges.

“Further, anyone producing a forecast or making an economic analysis needs to have something to lose from it, given that others rely on those forecasts (to repeat, forecasts induce risk taking; they are more toxic to us than any other form of human pollution),” he warns.

What do you think about bitcoin as a bubble? Tell us in the comments below!

Images courtesy of: Pixabay. www.nateturbow.com

At Bitcoin.com there’s a bunch of free helpful services. For instance, check out our Tools page!

The post Troy University’s Malavika Nair Says Bitcoin Is Something Different Than a Classic Bubble appeared first on Bitcoin News.

CanYa will completely change the world’s $2tn ‘gig economy’.

CanYa will completely change the world’s $2tn ‘gig economy’. CanYa will be a fully decentralised, international platform for people to book and pay (or be paid) for both home and digital services. Want to book a local plumber? Use CanYa. Want to get a graphics designer from overseas for your new website? Use CanYa. By … Continue reading CanYa will completely change the world’s $2tn ‘gig economy’.

German Financial Authority Warns on ICOs…Again; Nothing Changed

Source

Germany issues a warning against ICOs…again. Separated by just six days.

As governments around the world continue spinning their wheels considering possible regulations for cryptocurrencies and ICOs, most are issuing warnings to consumers. The warnings are coming in waves, one after another. Some governments are so nervous, in fact, that they have issued warnings more than once.

On November 9, the German government made a statement warning cryptocurrency buyers that purchases or investments in ICOs are highly speculative and carry substantial risk.

On November 15, the German government made a statement warning cryptocurrency buyers that purchases or investments in ICOs are highly speculative and carry substantial risk.

The many warnings are a sign that governments are extremely anxious about how to control the burgeoning investment industry.

Warnings galore

Apparently the risks of ICO and cryptocurrency investment are so great that they warrant double warnings from some governments, and with the exact same verbiage. The Germans come after a long slew of other governmental regulations including Singapore, the UK, Iran, and the Ukraine.

Apparently at times, one warning just isn’t enough.

Bitcoin Price Analysis: BTC Pushes All-time Highs and Tests Historic Resistance

Source

Throughout the life of bitcoin’s two-year bull run, it has been confined within two macro trends: one parabolic and one linear — both on a logarithmic scale:

Figure_1.JPGFigure 1: BTC-USD, 1-Day Candles, Macro Trend

The parabolic envelope (black curves) has confined the entire bull run throughout the last two years. Over the weekend, we saw a test of the lower curve that proved to be proper support and propelled the market into a bounce that now has the market testing the upper linear trendline (purple lines) at the time of this article:Figure_2.JPGFigure 2: BTC-USD, 2-Hour Candles, Test of Upper Trendline

As the bitcoin market approaches the upper trendline, the price action will coincide with a test of the previous all-time high. Expect this to be a point of resistance with possible market turbulence. However, if we manage to break that resistance level and hold support above the trendline, there is no clear resistance until we test the parabolic envelope in the upper $8,000s.

If we look at the macro indicators for this move, we see some signs that have proven to be indications of short-term rallies leading to corrections:

Figure_3.JPGFigure 3: BTC-USD, 1-Day Candles, Bollinger Band Trend

The last two corrections bitcoin has seen came on the tail of a minor pullback that rebounded to a new all-time high. The one-day candle trend is, so far, showing a repeated pattern that has led into a reversal each time it tested the upper parabolic curve. A rounding of the Bollinger bands during an upward move (shown in purple) is a forecast for decreased upward volatility that will lead to either a consolidation period or a reversal to the lower Bollinger bands.

While a reversal is not required of this move upward, one can speculate that once the price tags the upper parabolic curve, we could see a pullback to the lower Bollinger bands on the one-day charts. A pullback to the lower Bollinger bands would see support quite nicely with the lower parabolic curve.

One of two outcomes can be expected from this move upward: either we will test the upper parabolic trendline and reverse, or we will break above and consolidate before continuing on a very strong bullish move to new highs.

However, these macro moves have become increasingly more demanding on the market as we continue to get squeezed within the parabolic envelope. The forecast of the Bollinger bands indicates we are not likely to see a sustained move higher without a consolidation period or a pullback.

Summary:

  1. Over the weekend, bitcoin saw another test of the lower parabolic curve that proved to be strong support.

  2. After testing the parabolic curve, the market rebounded and has now established a new all-time high.

  3. If this trend continues, bitcoin could see prices in the mid to upper $8,000s before any noticeable resistance stands in the way of the price growth.

Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

CommerceBlock Announces Partnership with CG Blockchain

Source

CommerceBlock is proud to announce the beginning of its fruitful partnership with CG Blockchain. As a part of this partnership, the blockchain platform will be working on the new FUNDStore project, providing an interface to what’s considered as the world’s most secure public blockchain network. By implementing its novel tools within the FUNDStore ecosystem for blockchain based software solutions for hedge funds and pension funds, CommerceBlock will empower the clients of CG Blockchain to interact and conduct business under strict privacy. These transactions in question can be conducted over various public blockchains.

The partnership can be considered as a significant milestone for both the parties and Bob Bonomo, the President of CG Blockchain has reiterated in a recent quote. He said,

“FUNDStore/CG Blockchain is excited to partner with CommerceBlock as it offers unique public blockchain tools for the $3 trillion hedge fund industry through its technical expertise around public blockchain infrastructure.”

The announcement also marks a twist in the narrative so far, where the mainstream financial platforms have been maintaining a safe distance form Bitcoin and public blockchain technologies. By creating a bridge between both sectors, CommerceBlock is opening a whole new avenue for the overall development of the global financial infrastructure. The partnership also coincides with new developments, being brought about by CME Group and its planned Bitcoin exchange-traded instruments.

CG Blockchain

ComplianceGuard offers pension fund investors the tools they need to make sure that hedge fund managers do not change transaction or data. CG Blockchain combines an unalterable blockchain transaction trail with ongoing compliance monitoring to decrease the risk of hedge fund fraud at the same time protect the reputation of pension fund managers. In the current world of high measures of scrutiny and regulations, pension fund investors need accurate transaction records that can be verified as well as the compliance data from the funds they invest in. The blockchain will permanently record hedge fund compliance on a distributed ledger.

FUNDStore

FUNDStore enables users and pension fund providers to manage all stages of the transactions and interactions through the platform. It is designed in a way that all information, user funds, and user details are controlled by the client, meaning that at no point does CommerceBlock or CG Blockchain have access to this data. CG Blockchain partnering with CommerceBlock now seeks to increase hedge fund accountability and transparency of the transactions. It aims at delivering security to pension fund investors through the blockchain technology. This partnership will set the new standards for pension and hedge fund investment.

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.