Thanks to all #Chainlink Hackathon participants and congrats to the winners! Devs showcased a wide range of new Chainlink functions: - P2P car rental platform using a @Tesla API - Yield farming RPG game - AMM insurance market - decentralized library & more
WBTC's $1 billion+ in Bitcoin will now gain additional security using Chainlink's Proof of Reserve capability. We're thrilled to be working with @BitGo to enable greater transparency & therefore more usability for WBTC as a form of collateral across DeFi.
Crypto-fiat payment provider @AlchemyPay is integrating Chainlink price feeds into its payments & upcoming DeFi platform. This ensures that users receive the fair market when interacting with DeFi dApps or making retail crypto payments on Alchemy Pay.
Gaming platform Planetarium is integrating Chainlink into @NineChronicles to power cross-game Metaverse communication, in-game commodity pricing, and secure trading of in-game items, with additional plans to use Chainlink VRF to create unique NFT-backed in-game items.
DeFi platform @strongblock_io has integrated Chainlink’s ETH/USD & LINK/ETH Price Reference Data feeds live on mainnet to calculate its staking rewards. This ensures that all rewards issued to StrongBlock users are accurately & transparently distributed.
Blockchain platform @blockstack is integrating Chainlink as its go-to oracle solution to empower universally connected smart contracts. Blockstack devs will have access to any API, Sybil resistant nodes, live decentralized price oracles for DeFi and more.
Private synthetic asset DeFi platform @OffshiftXFT has integrated Chainlink's BTC/USD and XAU/USD Price Feeds live on Testnet to serve as decentralized reference prices for users minting, burning, and trading its privacy-preserving zkAssets.
DeFi platform @OfficialCentaur integrates Chainlink VRF to add enhanced transparency. Chainlink VRF's provably fair source of RNG enables unbiased random selection of sale participants, leveling the playing field for all.
New Chainlink Node operator Inotel is now live on mainnet helping secure Chainlink's Price Reference Data for DeFi developers. Inotel brings DevOps experience as a PoS validatonode operator on 9 other Web3 networks, helping secure millions in USD value.
Chainlink's oracle network unlocks new markets for insurance + expands DeFi’s footprint. @avivahl from @Gartner_Inc highlights how organizations like @ArbolMarket use Chainlink rainfall data to give farmers access to parametric weather insurance contracts.
Data providers use Chainlink to sell data/APIs to multiple blockchains in under an hour, from existing APIs & without running any additional software. Many have then launched Chainlink Nodes in a few hours, to sell signed data directly to smart contracts.
Rewatch our a live Q&A with the Aavegotchi team. We speak about Aavegotchi's recent integration of Chainlink VRF and its use of decentralized oracles to grow the NFT ecosystem. Come learn more about NFTs / crypto-collectibles, Aavegotchi and more.
This is how I've been doing things in my Digital Perdition chronicle / narrative for Shadowrun for years. If this is useful, feel free to steal it. I assume this probably isn't a new idea, but in my world, Nuyen is a form of cryptocurrency, like bitcoin or ethereum. It's also a "smart" currency, in that it can autonomously do things, all by itself. Any "nuyen app" on any comlink can, with a very simple user-facing interface, create things like escrows, trusts, provisional holdings, task verified transactions, etc. As long as the system can autonomously verify the information some how in the outside world, it can interact with it. (This also means the system is somewhat fallible and can be hacked / spoofed / fooled, which can lead to interesting emergent narratives / plots all on its own). The fact that it's a cryptocurrency also informs the logic of what happens if Nuyen is copied. Ordinarily, this doesn't happen, and "naked nuyen" (nucoin outside of a wallet app or not encrypted on a credstick) is very suspicious, and if you're going to accept it, you need to be able to verrify it in real time, like right now, and transfer it to your account before you leave this dark alley / a abandoned warehouse transaction, or not accept it at all if you don't have signal. But if you do some how manage to clone some Nuyen, then just like crypto, and there's two of the exact same nucoin, then it's whoever syncs it to their account first. The other is considered the forgery. So that can create a "race against the clock" scenario if two opposing forces have the bag, the same bag, and need to get back to civilization before the other guy does. (This might not even come up in your games, but I play in a lot of areas like, in the middle of the ocean, pirates and atolls, as well as extremely rural northern Canada, South American jungles, and sub-Saharian Africa, exploring ancient blood mage / cultist desert ruins, etc, so often, "spotty signal" is an environmental hurdle / plot point.) We also have "credcoins" in addition to regular old credsticks. A "credcoin" is basically like an SD card, but with a poker-chip style plastic housing around it, to make it more handleable. The chip holds the actual encrypted nucoin (like a credstick) so they're not naked nuyen (see above), but they've also got an optical code, like a QR code, printed on them. They can be used in vending machines in 3rd world areas where signal might be spotty, or traded in physical transactions. The way they work, is that we've written into the narrative that a certain block of numbers in the "nuyen hash" of each nucoin, maybe like the last five digits or something, who knows, but that there's a world wide industry standard number to indicate that these nuyen are dedicated for physical use. Sort of like how some IP addresses are reserved for localhost or LAN. If any system, any wallet app, sees these digits, it wont let them be "deposited". Only a physical bank can do it. This prevents someone from just scanning a credcoin, depositing the nuyen, and now the coins still look valid, but are useless. If you wanted to "deposit" them, you'd take them to a bank, they would scan them and verify, add them to your account, and remove those coins from circulation immediately by physically destroying them (or feeding them into a hopper to be able to 3d print new ones). They'd also charge you a fee for the overhead of the cost of actually producing currency, sort of like those CoinStar machines at Walmart that charge you a fee for counting all your change. Speaking of counting change... That there's an optical code on credcoins makes that easy, too. Anyone with AR (augmented reality -- so basically, anyone, even if it's only through a hand held comlink screen, but usually AR contact lenses, glasses, goggles, or cybereyes) can just look at a credcoin and immediately know how much it is. You can also dump them out on the table, stand back so you get them all in frame, and just see a total for how much the value of all of them are. Each credcoin already has an ARO, but if there's a shit load of them together in close proximity, the AROs just merge together into a single one so as not to be "spammy". If you want to block the AROs, you can store your credcoins in signal blocking bags, containers, or metal coin rolls. Credcoins are also slightly different sizes and colors to tell the denomination at a glance, as well. Anyway, I hope some of those ideas are useful for your games. :)
Kickstarter Roundup: Feb 4, 2018 | 25 Ending Soon (including: Nemesis) & 51 New This Week (including: Xia expansions)
What this is:
This is a weekly, curated listing of Kickstarter tabletop games projects that are either:
newly posted in the past 7 days, or
ending in the next 7 days (starting tomorrow) and have at least a fighting chance of being funded.
All board game projects meeting those criteria will automatically be included, no need to ask. (But the occasional non-board game project may also sneak in!) Expect new lists each Sunday sometime between 12:00am and 12:00pm PST.
FATESLAYER A set of 32mm miniatures set in dark fantasy. All produced in-house and in resin for maximum detail. (Has currently earned $11,590 of $6,000)
The Red Dragon Inn 7: The Tavern Crew With pockets full of adventurers' gold, it's finally time for the staff to take a break! The crew of the Red Dragon Inn join the party! (Has currently earned $120,182 of $10,000)
Deja Vu: Fragments of Memory A game played with an innovative "Binary System" of Mancala sowing and Tableau Building. Beautiful theme, easy to learn, fun to play! (Has currently earned HK$522,088 of HK$60,000)
PolyHero Dice - Rogue Set From the shadows rolls a PolyHero Dice Set for heroes of a more mysterious kind. Rogues, Thieves, Assassins... steal yourself a set! (Has currently earned $182,892 of $50,000)
GO ECO: The Classic game of survival. The card game that allows you to Attack, Defend, Kill, Protect Steal, Trap, Hack and Surrender!!. It's all happening on your tabletop! (Has currently earned $2,563 CAD of $15,000 CAD)
Agents of Mayhem: Pride of Babylon Pride of Babylon is a story-driven 3D tactical boardgame based on the newest video game in the Saint’s Row universe - Agents of Mayhem. (Has currently earned $90,211 of $30,000)
Animo: A Living Deck Bible Verse Card Game Animo is 1 product with 3 uses: A 2-player Strategy Game, a Family Style Game, and a Parenting Tool for encouraging biblical values. (Has currently earned $6,197 of $7,500)
Arena Game Mats EXTRA LARGE 20in x 32in KS Exclusive Arena Game Mats for your gaming purposes. (Has currently earned $426 of $25)
Arkon Arkon is a fast paced, non-linear strategy card game that employs a unique bidding based resource system and multi-use cards! (Has currently earned $13,313 of $5,000)
Arrows - A Game with a Point ARROWS is a collection of unique arrow playing cards and rules for 4 intriguing and engaging games. It's different - it's FUN! (Has currently earned $149 of $2,500)
Battledigm A fast-paced, two player deck building card game (Has currently earned $1,160 of $3,000)
Earth Chan CCG Nani?! An Earth Chan Collectible Card Game?!? (Has currently earned $150 AUD of $15,000 AUD)
Endeavor: Age of Sail Lead an empire in the Age of Sail; make your mark on history as the maps of the world unfold! Gripping Euro strategy for 2-5 players. (Has currently earned $208,730 CAD of $75,000 CAD)
Eternal Kings Welcome to Eternal Kings — the game that combines the classic strategy of chess with the diverse combos of a card game! (Has currently earned $9,017 of $20,000)
Hammered Heroes - Standard Edition A balanced strategy game with attitude that's designed to get your drinking friends into card games and your card game friends drunk. (Has currently earned $7,192 of $10,000)
Herbalism Can you outsmart your friends and be the first to save the world from a terrible pandemic in this logic and deduction game? (Has currently earned $16,720 of $10,000)
Rep Your City!® Board Game (Detroit) A 2 to 10 player trivia and strategy board game all about Detroit. Other major cities coming soon, but we need your support! (Has currently earned $1,364 of $5,000)
The LTO Network is making its entry with a value proposition to bring a procedure that will chronicle into a computerized appropriated record that serves individual and business needs identified with legitimately binding contracts.
The use of blockchain technology is gaining momentum and will eventually be implemented in many areas of people's lives, improving and accelerating many processes with ease. It is no secret that people have already fallen in love with the bitcoin payment system based on the blockchain and understand how much it can change not only the entire financial system for the better, but also affect production and other areas. Naturally, it will take a lot of time to take root, as well as to finalize in terms of scalability and protection of this innovation, the widespread adoption of digitization of assets, data and tokenization of material values, many projects are already trying to create such platforms. Blockchain surprised many with the results of ICO which collected large amounts of investments, as it easily removes any territorial and political restrictions, people felt that at the same time the technology can combine privacy and at the same time transparency of all operations and be decentralized. In the future, it is hard to imagine that the blockchain will be able to replace the centralized system of data used by states, but it is more likely that it will be able to carry out enterprises and other organizations for which immutability and data protection is important. THE LTO NETWORK VALUE PROPOSITION LTO network was conceptualized out of the deep need of existing clientele. The company is not a ‘blockchain company, however, it leverages on the blockchain technology to provide crucial answers to improve their solution. It is a private permissionless network, where everyone can set up a hub and check business dealings, yet information is just shared between members of a particular process. Looking back LTO primary focus is on the issue of adoption which they are into presently in contrasted with numerous different platforms, having earned 1.4M USD from customers this year. The LTO Network is making its entry with a value proposition to bring a procedure that will chronicle into a computerized appropriated record that serves individual and business needs identified with legitimately binding contracts. Basically following this objective, it makes a decentralized work process component that enables you to trade data about private blockchains, while exchanges will be recorded in a mutually shared blockchain. The LTO Network utilizes the agreement or consensus instrument with minimal proof of importance to accomplish agreement on their blockchain. This planned system permits smallholders of tokens who would prefer not to run a node to get rewards for tokens. It is indistinct why the LTO Network needs to make its own blockchain as opposed to utilizing the current and demonstrated base-level framework. LTO NETWORK is not the first day provides its services and began to work in 2014, now their main task is to help businesses, governments to move to the use of decentralized applications and services. Definitely this project has all chances to solve existing problems of protection and safety of data of the companies, to eliminate probability of loss of information at use of intermediaries. For more details about this platform, kindly do check the links below: https://lto.network/ #LTO #livecontracts
The Price of Bitcoin Will ‘Surpass’ All-Time Price Highs by EOY of 2019,
The chairman of a notable Japanese fintech-firm and crypto trade administrator Quoine has said he trusts Bitcoin (BTC) will "outperform" its record-breaking value highs before the finish of 2019, amid a meeting with Bloomberg Markets: Asia Dec. 4. Talking amid the outcome of an all inclusive value droop, Mike Kayamori said he expects new crypto advertise opinion and force to set in after the new year, taking note of that "there's just the same old thing new, no impetus" in the quick future to drive costs back up. The CEO expressed that though many had called $4,000 as the "specialized base" for Bitcoin this winter, the best coin had neglected to hold the check amid the ongoing auction. "That said," he included, "when you take a gander at chronicled [patterns] and where things are going, I think the base is close." He certified his examination by taking note of the weight on bitcoin price excavators, a significant number of whom are covering activities as the benefit's value tumble presses benefits. Kayamori noted: "On the off chance that there's sufficient excavators leaving business, that [means] harmony is close. When you see how showcases overshoot, both here and there, you can likely say it's near the base." Kayamori guaranteed that Japanese controllers are currently beginning to open up again to affirm new crypto trades and token postings following the robbery of $534 million worth of crypto in January from Japanese trade Coincheck. Besides, the greater part of household trades are verging on satisfying the terms of the business enhancement arranges that were issued by Japan's Financial Services Agency (FSA) to tidy up the business in the result of the Coincheck hack. With better practices set up crosswise over administration, consistence, resource isolation, secure cool wallet stockpiling — and in addition expanded interest from monetary industry veterans — Japan's crypto scene is in a time of "union," he said. Noticing that Japan was the "principal worldwide monetary powerhouse" to direct crypto, Kayamori indicated the nation's spearheading regard for the business' most recent gathering pledges display, the successor to Initial Coin Offerings (ICO): Security Token Offerings, or STOs. Moreover, the FSA is allegedly dealing with ICO directions to shield speculators from extortion. What's more, as detailed today, Japan's legislature is additionally purportedly right now looking for approaches to keep tax avoidance on benefits from crypto exchanges. You can learn more by following our work on bitcoin price targets on our website.
So I created a Crypto Index Fund of 35 Cryptos and I'm holding for 1 Year - A Case Study
I’ve decided to document my journey with an experiment in crypto investing that involves creating a Crypto Index Fund of sorts. With a nod and hat tip to Brett McLain (http://blog.mclain.ca/31-crypto-currencies-week-1/) who was the inspiration for this experiment, as he enters week 14 of his own. Where my experiment differs is in the number of cryptos selected, as well as the style of selection. Brett went with the Top 30 (actually he used 31 in the end) by Market Cap. For my experiment, I shall be selecting 35 cryptos that I’ve hand selected. First, let’s get the rules set. The Rules
$10 of each, exactly. So coins like Bitcoin that are worth considerably more than $10, will be piece bought.
All bought on same day. Price paid is whatever price they were going for that day.
Weekly update, with analysis of how things are going.
Similar to the other $10 in x cryptos experiments, only this is my 35 specially chosen cryptos, not the top 35 by market cap.
Mix of established coins, along with some very new projects and hedges against other projects (for example, BTC & BCH).
All cryptos were bought on Tuesday 21st November.
No more buying after the first day.
No rebalancing or selling.
Holding for 1 year.
Why Am I Doing This Experiment? Primarily, this is a thought experiment for me. It’s also a method that I hope proves whether a diversified portfolio is more effective in the long run than holding a single (or few) cryptos. I have longterm holds in a numbers of coins over a long period of time. This small-scale thought experiment is separate to that. And why do I think an “crypto index fund” is such a good idea? This: https://imgur.com/aIxx3zu That’s a picture of the whole crypto market cap over the last year. It’s rising constantly (especially in the last few months), and is only set to grow more (and more rapidly). So an index fund that tracks a large segment of the market should be a really good thing. My profit will rise as the overall crypto market cap rises. That’s what this experiment is all about. And if it isn’t a good thing, we will see. The Cryptos Here are the cryptocurrencies I selected (listed by price):
A lot of research and thought went into selecting these 35. I don’t want to get into too much detail about why I chose individual cryptos (although that might come later). First, I will answer the two most macro of questions first:
This is pretty simple. I wanted a large enough amount that would justify an “index fund” without being unwieldy. As this isn’t a traditional index fund, it would be ridiculously complex to buy 100s of cryptos individually and then be able to store them somewhere. I think 35 is a good number that allows for diversification and balance, without being too complex and unwieldly.
Why these cryptos?
Whether all of these 35 cryptos will turn out to be successful (and I define success as giving me at least a 1.5x ROI in a year), will be an interesting part of the experiment. I chose these 35 for specific reasons individually and I made sure to choose a number of project types - straight up currencies, platforms, dApps, protocols, etc. In this index fund, there will be small total supply coins, large total supply coins, large market cap coins, small market cap coins, old projects, new projects and everything in between. But all of them are good projects, I believe. Time will tell and I invite questions and discussion about the cryptos themselves in the comments. Based on their Market Cap rankings, I put the 35 cryptos into a number of types that I’ll explain a bit here:
The Big Boys
The Second Tier
The cryptos in The Big Boys section are pretty obvious. The established and time-tested players like Bitcoin, Ethereum and Dash fit here. In the Second Tier we have the potential future stars. Cryptos like NEO, OmiseGO and Lisk fit comfortably here. Whilst The Emerging Upstarts are filled with newer projects that are super solid, for example: Walton Chain, PowerLedger and Chainlink. By selecting older and newer projects in this “crypto index fund” I’m hoping to leverage both money coming into the established/known cryptos, as well as potentially making bigger market cap jumps with some of the new projects that have far to run. Potential Issues With the Experiment Some obvious issues with my method became apparent pretty quickly:
Firstly, certain cryptos will naturally have an advantage (at least early on), if they were down that day compared to their usual average.
Some coins were near all-time-highs, which will naturally skew the experiment a little and make it a little harder for them to succeed…at least in the early stages of the experiment. For example, Bitcoin happened to be very near its ATH when I bought it for the experiment. NEO and AdEx were also very near their tops.
The natural volatility of Bitcoin meant that I wasn’t able to hit exactly on $10 for each, and some of the values are therefore a little off-kilter because of that. I did the best I could.
Due to the relatively small amounts involved, I probably won’t be taking these off the exchanges I bought them on (transaction fees). Leaving on exchanges isn’t ideal (for obvious reasons), but this experiment is more about the thought experiment for me. My large holdings are in cold storage.
Lets make it simple all i want is that the core of the game must be same thru the whole game. For me when a game is made, i look at the core of a game: bio-shock =story , borderlands = guns and missions, minecraft = building and survival. So what i want is that peria chronicles stay by there idea and grow with it. Why? Well lets see, you can make the town, your house, dungeons, and shops for that matter. butt i want to dive deeper in the possibility were the whole game is created by the player. Inventors: You want to make a blacksmith (it will be called blades and gearz)shop that you can make and repair tools, butt not any tools. Tools you've created from scratch like you design the handle the shaft and the blade not with presets but your own design thru a "solidworks program" which is made simpler ( witch is simple to use anyway)By how big the blade and heavy it is changes how you use them. also with Armour.The materials is paid from grinders who go the dungeons to get materials Also a cloth maker Also dungeon and town builders where you have to pay a fee to go into Services: And i like the restaurants because i think you can get a buff when you go there and it last longer then a potion same as a campfire eating there. while you sit you can learn new strategies to defeat the dungeons. Also potion shop and also enchanted shop where you can upgrade your gear. what about the flasks well the blacksmith have to make the also the ingredients from the grinders people that do mostly dungeons Remember every shop is run by you the player if you not there no biggie you cant make new stuff but it will keep you in stock until you run out of materials. The AI can buy new material for you on what you have bought last time from a grinder and have the same price also. there is unlimited jobs out there just look at "log horizon" a anime with most of the idea i got You can add to be a trainer also a day care for the beasts, a farmer Grinders Not only that but you can design your own moves from scratch also. You can make the blade move to point to point and save it as a preset later you can combined moves and people to create a link to a powerful move. Beast that you tame can help you fighting mobs by using there powers onto your weapons like fire mob can boost your sword strength by adding fire to it. Also weapons works with strength: Determined on what material you use the heavier the blade is and size and durability , meaning you need more strength to use it full potential. For example you need 50 strength to use this blade and you are 25 strength you swing slower and do less damage and you save more durability on your sword( i would say mostly the same or less damage you swing a sword you can handle with 25 strength) but you do more impact damage then a lighter sword. Same can be said with Armour where you move slower in that matter. Also drains your stamina faster. the Economy How do the developers get paid well by a type of bitcoin system. You can get money out of the system if you receive gold that is worth real bitcoin but taxing is included. so when you sell a sword you get bitcoins for that sword but 25% go to the developers. It is a very risky way to do it for the bitcoin needs to have a constant value So there you have it but if it isn't in the game we can code it in i guess. It will take a lot of resources but i think it will be worth it. because it is a place where you can create a town together fight together live together basically it is you very own place in peria. (the developers of the game just have to add new creatures and possibility's to create new stuff. that's all) What do you guys think? i forgot to add that we make our own events in the game like a concerts ,Christmas etc. we decide if we want to have a sale in our shops and decorations. we can give coupons to people also to buy from our shop advertising etc . we plan out what we want to do for the holiday make one time events for that day etc
2018 Cryptocurrency Crash (Elliott Wave): Redux Crosspost: https://bitcointalk.org/index.php?topic=2711461.msg42706471#msg42706471 History —08-JAN-2018: Elliott Wave, https://redd.it/7ptsg3 —12-JAN-2018: Crypto Black Monday, https://redd.it/7pxg0d —24-JAN-2018: Dotcom vs Crypto, https://redd.it/7skzff —21-FEB-2018: Bear Market Resumes, https://redd.it/7z8u6n —28-FEB-2018: Halfway Through, https://redd.it/7umjf9 —13-MAR-2018: Fare Thee Well Ten Thousand, #10kNeverAgain: https://redd.it/842ssd —19-MAR-2018: Equinox, https://redd.it/85m5tr —03-APR-2018: April Fools’ Rally, https://redd.it/89jqye —19-APR-2018: 420 High, https://redd.it/8dbz4f —25-APR-2018: Symmetrical Triangle, https://redd.it/8ev2ki —06-MAY-2018: Ten Thousand Tease, https://redd.it/8hdhjn —29-MAY-2018: Triangle Phinance, https://redd.it/8mwx6z —10-JUN-2018: Triangle Phinance II, https://redd.it/8q5p68 —23-JUL-2018: Redux, https://redd.it/913xx6 —02-SEP-2018: #ShortSeptember, https://redd.it/9c96vk —04-NOV-2018: Inflection Point, https://redd.it/9u1y3z Since the all-time high set on 17-DEC-2017, the cryptocurrency Bitcoin bear market has now elapsed 7 months with a peak decline of 70% in value thus far. The first leg of the crash from 17-DEC-2017 to 06-FEB-2018, saw a 70% decline where price collapsed from the all-time high of $19,891 to a low of $6,000 in just 51 days (BITFINEX). Since the 06-FEB-2018 low, price has wandered sideways on diminishing volume and volatility, contracting into a triangle pattern. A triangle formation reflects a balance of forces creating a directionless resolve: an equilibrium and indecisive psychological state of mind between the bulls & bears, a period of consolidation as the market deliberates its next move. Five waves are expected in a contracting triangle pattern, labelled as a-b-c-d-e waves. Under textbook Elliott Wave analysis, at least two of the five alternate waves are typically related to each other by the Fibonacci 0.618 golden ratio, and it appears wave-c and wave-e are the alternating candidates: https://i.imgur.com/77x90d4.png —wave-a: Rallied 95% from 06-FEB to 05-MAR, retracing a 50% Fibonacci of the downtrend wave that began on 06-JAN. —wave-b: Declined 45% from 05-MAR to 01-APR, retracing a 95% of wave-a. —wave-c:‘April Fools Rally’: Rallied 55% from 01-APR to 05-MAY. In regards to length, it was a Fibonacci 0.618% of wave-a and terminated just shy of the psychological $10,000 level. —wave-d:‘Sell In May And Go Away’: Declined 33% from 05-MAY to 24-JUN. In regards to length, wave-d equalled a Fibonacci 0.786% of wave-b. —wave-e: The final leg of the triangle pattern, and the shortest, has been underway since 24-JUN. Should wave-e equal a Fibonacci 0.618% of wave-c, it would do so at around $7,958 (BITFINEX) —and converging trendlines of the triangle suggest by mid to late JUL. It is common for this final wave-e of a triangle to either undershoot or overshoot the converging trendlines of the triangle. However, this wave-e must terminate below wave-c for the overall triangle to remain valid; i.e. below the MAY high of $9,990 (BITFINEX). Summary of targets to complete the triangle (BITFINEX): Textbook:
@7873: wave-e retraces a Fibonacci 50% of wave-d @7958: wave-e equals a Fibonacci 0.618% of wave-c
@8372: wave-e retraces a Fibonacci 61.8% of wave-d @8557: wave-e equals a Fibonacci 0.786% of wave-c @9084: wave-e retraces a Fibonacci 78.6% of wave-d
Once the triangle completes, the second leg, and most devastating leg, of the cryptocurrency bear market is expected to resume with a breakout in volume and volatility —the crash redux. Taking out $7,330 may commence the second leg of the bear market, at which point signals time to exit all cryptocurrencies. The Elliott Wave principle pinpoints the start of the ‘mania’ phase at $5,400 (BITFINEX) on 12-NOV-2017. At this level in time, price withdrew to create wave-4 as part of a 1-2-3-4-5 series of advancing waves: https://i.imgur.com/5rD1eo2.png From $5,400 to $19,891 manifests the steep parabolic price curve of the fifth and final wave. Therefore, taking out $5400 begins ‘capitulation’ of the earliest of public speculators and loyal hodlrs —amidst a volatile and instable marketplace surged in volume driven by margin calls, where mass media hysterics begin to peak reaffirming the ‘fear’ phase. Hence the psychological $6,000 has been guarded for the last +5 months since it marks support of the psychological USD$100 billion Bitcoin marketcap. https://i.imgur.com/CmZqsZV.jpg Initial expectation for the second leg bear market is towards $4,257 (BITFINEX) which marks a Fibonacci 78.6% retracement of the entire Bitcoin market which begins the ‘despair’ state of affairs; where reality of the bubble bursting only just is grasped as the 'blow-off' phase gains momentum. From a political and socionomic standpoint, the following events termed as “FUD” may begin to unravel during the second leg of the bear market: —Further laws/bans/restrictions upon cryptocurrencies invoked by countries/governments, calling for tighter regulation and fraud prevention: positive rulings, but perceived as negatives. —Prolonged exchange outages preventing deposits/withdrawals and management of positions; including hacking and exploitation of security flaws. —Exposure and collapse of further Ponzi schemes. —Majority of Altcoins currently around US$2,000,000,000 market capitalization becoming extinct. Manipulated alt/BTC pairs at highest risk of collapse; see deadcoins.com —Mergers & acquisitions of crypto companies, reduction of trading fees and margins/spreads, and launch of basket financial instruments (e.g. ETFs, index funds, etc), in the endeavour to revive and survive the market. —Individual bankruptcies and suicides. Based on historical manias, when a speculative asset bubble bursts, an approx 90%-95% collapse unravels in a period of 2 years: —thebubblebubble.com/historic-crashes —en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets Chronicles of historical manias suggest the cryptocurrency bear market is likely to conclude by late 2019 or early 2020, with Bitcoin priced between $500 to $1,000. It is musing to project whether or not Bitcoin survives the crash. Commodities and currencies, and assets deemed as a store of value, unfold in A-B-C Elliott Waves in both bull and bear markets. Whereas assets such as stocks based on earnings unfold in 1-2-3-4-5 impulsive Elliott Waves in bull markets, and corrective A-B-C Elliott Waves in bear markets. The wave characteristics of Bitcoin and the popular cryptocurrencies have unfolded in 1-2-3-4-5 impulsive Elliott Waves in bull markets, and corrective A-B-C Elliott Waves in bear markets. Given the nature of wave characteristics, this suggests the behaviour of cryptocurrencies cannot be considered as a currency nor a commodity; and so therefore in their current state, shall never be adopted as robust mediums of exchange for goods and services or as a storage medium of value. Quite possibly, a second generation of viable cryptocurrencies may emerge in post 2020. Either way, the days of speculative parabolic price curves in the cryptocurrency markets is over, and any hopes of a return to the all-time highs is foolish hodlr's fodder. Elliott Wave speculative models indicative of price and structure, not time; i.e. the projections may occur sooner or later than anticipated; as follows: —BTC (Weekly): https://i.imgur.com/hcT0S4a.png —BTC (Daily): https://i.imgur.com/2CFdLqZ.png —BTC (4-hr): https://i.imgur.com/yTaybkm.png
Popping the Bitcoin Bubble: 5 reasons economists might be wrong
A CNBC survey this week found that 80% of Wall Street economists believe current Bitcoin prices are a bubble. Eight-zero percent. We can’t even get 4 out of 5 dentists to recommend flossing. Another Wall Street Journal study found 51 out of 53 economists surveyed thought bitcoin's price was an unsustainable bubble. Clearly, Bitcoin has a remarkable ability to bring the world’s economists together -- and just in time for Christmas! This news scares me a bit. I don’t want to be the guy buying up beach front investment property in Florida in 2007. Or Beanie Babbies in... well, pretty much ever. But there are at least 5 reasons I view these Bitcoin obituaries with skepticism. 1) Bitcoin threatens the role of traditional finance If I hopped in my time machine destined for 2010 and polled 53 taxi drivers I’m sure I wouldn’t find many bullish on Uber. I’d also be using a time machine for the stupidest purpose since Back to the Future 3. Most investment strategies are born out of financial institutions. These folks like being informed. Consider how far the Duke brothers went to obtain the 1983 orange crop forecast. Cryptocurrency is rooted in the tech community, not finance. I doubt many fund managers ever considered investing in Bitcoin, at least not until recently. If my only job was to invest money for other people and I missed the biggest investment opportunity of the century, I would probably be a bit bitter. 2) If everyone thinks its a bubble, is it really a bubble? The housing market in 2007 was a can’t-lose investment. Lie on your loan application. Scoop up a condo before the unit is finished being built Sell your condo several months later for 50% profit Everybody wins! Nobody seemed to think that housing demand could ever fall. Conversely, most people buying Bitcoin are very aware of some degree of risk. Corrections happen near weekly. And, clearly, the professionals have reached a consensus that Bitcoin is overvalued. I’m sure there are some Bitcoin investors who aren’t properly assessing the risk, like this idiot family that sold their home in October to buy in. But overall, people realize Bitcoin isn’t a sure-thing. -- Also, that idiot family just quadrupled their investment in 3 months. 3) People aren’t buying on credit As far as I’m aware, most credit card companies and loan agencies, aren’t going to throw cash at you to buy Bitcoin. In fact, all the exchanges I have worked with require direct bank transfers. The level of effort required to buy Bitcoin is unusually high. It may take someone several days to get verified and several more to fund their account. When you’re forced to think about your investment plans for a few days, you’ll likely make a more thoughtful decision. Both Bitcoin and handguns have a waiting period. 4) Coinbase is adding over 100,000 users a day A couple years ago I couldn’t talk about Bitcoin with anyone, because nobody knew (or cared) what the heck it was. Now, I can’t talk about Bitcoin with anyone because they are all tired of hearing about it! All of this brand awareness is driving a surge in demand. As any good Herbalife salesmen will tell you, “generating demand for your product is key... Now will you please please please buy $5,000 of milkshake mix?” 5) Bitcoin has been declared dead over 200 times BitcoinObituaries.com chronicles Bitcoin’s demise with an endless list of doomsday publications. As we’ve already established, economists really hate Bitcoin, and apparently publishers aren’t too fond of it either. Lots of people have claimed Bitcoin was a ponzi scheme, or unsustainable, or an alien plot to steal our mothers (Maybe that last one was just a movie.). But the blockchain keeps kicking, people keep investing, and publishers and economists keep being wrong. At this point it seems like a lot of writers are just too stubborn to admit that maybe they were wrong. Maybe a global decentralized currency does have a purpose. Maybe an asset can derive value from its users rather than a central authority. And maybe they can borrow my time-machine for a spin. About The Author I'm just a silicon valley marketer who has invested, mined, and spent various cryptocurrencies for the past 6 years.
In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018
Developments in Financial Services
A cryptocurrency exchange-traded product (ETP) that trades on Switzerland’s Six Exchange saw record trading volumes on Thursday and Friday last week, suggesting that institutional investors may be buying the dip in cryptocurrencies. Four major cryptocurrencies underlie the HODL ETP, including Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). While HODL ETP’s one-month average daily trading is 20,000 shares, on Thursday, December 6th, and Friday, December 7th, 53,233 shares and 62.986 shares were traded, respectively.
A report published last week by global anti-money laundering policymaker, the Financial Action Task Force (FATF), indicates that cryptocurrency exchanges in the United Kingdom pose a, “low risk,” for money laundering and terrorist financing activities. The report, however, does highlight that such activities on UK cryptocurrency exchanges are an, “emerging risk,” although there is not yet enough evidence to suggest that these activities are occurring through cryptocurrency exchanges. In its report, the FATF urged UK regulators to, “Continue to develop an understanding of emerging risks (such as virtual currencies) and intelligence gaps, and take appropriate action.”
Andreas Utermann, CEO and CIO of Allianz Global Investors, called on global financial regulators to ban cryptocurrencies while speaking at a panel discussion in London. According to a report by Reuters, Utermann said, “You should outlaw it,” while participating in a panel alongside Andrew Bailey, the head of Britain’s Financial Conduct Authority. Bailey responded by saying that Utermann’s comments were, “quite strong,” before adding that cryptocurrencies have, “no intrinsic value.”
Basis, a major US-based stablecoin project, is shutting down its operations and returning most of its funds to investors, according to a report by crypto news outlet The Block. The report by The Block cited, “multiple people with direct knowledge of the situation,” in claiming that the algorithmic stablecoin project, which generated UDS$133mm of funding through private investments in April, will return funds to investors. According to the Co-Founder and CEO of competing stablecoin project Nevin Freeman, Basis’ shutdown is due to regulatory concerns around one of its token types. Freeman explained, highlighting that algorithmic stablecoins implement a “secondary token”, known as a “bond token”, to help maintain the primary token’s peg. In many cases, regulators like the US Securities and Exchange Commission (SEC) consider these secondary tokens to be securities.
Binance, the world’s largest cryptocurrency exchange by daily trading volume, announced that it has added Circle’s US dollar-pegged stablecoin, USD Coin (USDC), to its combined Stablecoin Market. Circle, a company backed by Goldman Sachs, first released its stablecoin in September of this year. Binance’s combined Stablecoin Market features other notable stablecoins, like Tether (USDT), that trade against cryptocurrencies as interchangeable base pairs.
Coinone, a South Korea-based cryptocurrency exchange, has officially launched Cross, a cross-border payments application that leverages Ripple’s xCurrent product to increase efficiencies. The application, released by Coinone’s payments subsidiary, Coinone Transfer, targets unbanked or underbanked South Koreans by enabling the transfer of funds to Thailand or the Philippines at a low cost.
Gemini, a cryptocurrency exchange heralded by the Winklevoss twins, released an official company blog post this weekend announcing that the firm will support Bitcoin Cash (BCH) custody and trading. The exchange will support only the Bitcoin Cash ABC network at this time, adding that they, “are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.” Additionally, the company detailed that its listing of BCH is pending regulatory approval by the New York State Department of Financial Services.
Gemini, the cryptocurrency trading platform founded by the Winklevoss twins, announced the launch of a mobile crypto trading application in an official blog post today. Accompanying the launch of the crypto trading app is a new investment vehicle, dubbed, “The Cryptoverse,” that is comprised of a basket of cryptocurrencies weighted by market capitalization. While speaking to Bloomberg today, Cameron Winklevoss said that, “A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.” The Winklevoss twins went on to detail of a goal to expand reach to Asian markets by 2019’s end.
Good Money, a US neo-banking platform, has closed its Series A investment round that generated USD$30mm led by cryptocurrency-focused merchant bank Galaxy Digital and the founder of EOS (EOS) Block.one. Good Money aims to provide a variety of banking service and certain financial instruments to US account holders while exploring innovative changes to traditional banking practices. “Modern banking is a primary driver of so many issues we as a society face – from economic inequality, institutional racism, environmental destruction to political corruption,” said Good Money founder Gunnar Lovelace. Specifically, Good Money eliminates ATM fees while offering each bank user equity in the company.
Kraken, a notable cryptocurrency exchange, is seeking to raise funding with a USD$4bn valuation for the company and a USD$100,000 investment minimum, according to CoinDesk. In an email to investors, Kraken CEO Jesse Powell wrote, “There is presently a limited time opportunity available to a very small select number of clients to purchase shares.” The email goes on to detail that the exchange will close its offer on December 16th.
OKEx, the second-largest cryptocurrency exchange by daily trading volume, will begin listing Bitcoin Cash ABC under the original Bitcoin Cash ticker (BCH), as per an official announcement Tuesday. Additionally, OKEx will change the Bitcoin Cash SV ticker from BCHSV to BSV. The announcement by OKEx comes after other notable cryptocurrency exchanges have made the same switch, including Coinbase and Gemini.
PayPal, an online payments portal, has launched its own internal private blockchain platform that will allow staff to trade and exchange tokens while generating ideas and participating in programs to foster innovation, as per a report by news outlet Cheddar. The private blockchain network, which was built by 25 PayPal employees in just 6 months, will allow employees to earn more for enrolling in learning and development programs. The PayPal tokens are not tradeable, or worth anything for that matter, outside PayPal’s blockchain.
PricewaterhouseCoopers (PwC), a big four consulting firm, is partnering with Bitfury Group, a large blockchain software and mining firm, to develop a blockchain accelerator specific to Russian businesses. As per an official press release by PwC, the partnership will leverage Exonum, Bitfury’s open source framework to build blockchain applications, for educational courses and seminars. The partnership aims to meet the, “current needs,” of PwC’s enterprise clients in Russia.
Revolut, a digital banking alternative with an in-application cryptocurrency exchange, announced that it has been awarded a European banking license. Seeking to become the, “Amazon of banking,” the license will allow Revolut to offer traditional banking services alongside its current cryptocurrency offerings to European customers. Nikolay Storonsky, Founder and CEO of Revolut, said in regards to the newly acquired license that, “With the banking license now secured, commission-free stock trading progressing well, and five new international markets at final stages of launch, we are living up to our reputation as the ‘Amazon of Banking’. Our vision is simple: one ap with tens of millions of users, where you can manage every aspect of your financial life with the best value and technology.”
Shinhan Bank, the second-largest commercial bank in South Korea, is launching a new project to implement blockchain technology in its internal processes with a goal of eliminating human error. According to a report by news outlet The Korea Times, Shinhan also recently completed a training program for its staff to increase their knowledge of blockchain technology across various applications. After Shinhan implemented blockchain technology for interest rate swap transactions on November 30th, South Korea’s second-largest bank is now aiming to apply the technology in its record-keeping process to enhance overall efficiencies.
SolarisBank, Germany’s second-largest and Europe’s ninth-largest stock exchange, is partnering with Stuttgart Exchange Group, a German fintech company, to jointly develop a cryptocurrency exchange. As per a report by Cointelegraph Germany, the joint cryptocurrency exchange venture, “is scheduled to launch in the first half of 2019.” This news comes after SolarisBank announced plans to launch a zero-fee cryptocurrency trading application this past May.
The Canadian city of Calgary is becoming the first city in Canada to launch a digital version of its local currency, according to a report by the Global News. Dubbed as the Calgary Digital Dollar, the digital currency will be exclusive to Calgary and operate alongside the country’s Canadian Dollar. Calgary-based businesses will now be required by law to accept at least 10% of a payment in digital currency, although they are allowed to accept up to 100%.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is launching a pilot of its Global Payment Initiative (GPI) to combat growing blockchain and fintech solutions, according to an official announcement last week. Currently, the SWIFT Network is used by global financial institutions to conduct global financial payments and cross-border transfers of fiat currency. Although the project is still in its early stages, the GPI pilot hopes to, “build the foundation of a new integrated and interactive service that will significantly improve efficiencies in the payments process and which will ultimately be made available to all 10,000 banks across the SWIFT network.”
The United Arab Emirates’(UAE) central bank is partnering with the Saudi Arabian Monetary Authority (SAMA) to develop a cryptocurrency to facilitate cross border transactions between the two countries, according to a report by news outlet GulfNews. In a meeting pertaining to global banking standards and regulation in the Arab region, Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, said, “This is probably the first time ever that witnesses the cooperation of monetary authorities from different countries on this topic and we hope that this achievement will foster similar collaboration in our region.” The prospective digital currency will be used by both central banks and financial institutions in the countries.
TokenSoft, a security token offering (STO) startup, has acquired a 20% stake in regulated broker-dealer Marpine Securities LLC in order to launch its own regulated broker-dealer. After acquiring the 20% stake, TokenSoft will launch its new regulated broker-dealer entity, called TokenSoft Global Markets, that will be registered through the Financial Industry Regulatory Authority (FINRA). The new regulated broker-dealer entity will allow TokenSoft to advise token issuers through every step of the Initial Coin Offering (ICO) process. Additionally, TokenSoft will now be able to legally operate in services related to insurance and management.
Tom Lee, co-founder of Fundstrat Global Advisors and a notable cryptocurrency pundit, believes that the current fair value of Bitcoin (BTC) is between USD$13,800 and USD$14,800, according to a note published on Thursday. Lee arrived at this valuation by taking into account the number of active wallet addresses, usage per account, and other supply and demand metrics. Additionally, Lee forecasted that the fair value of BTC will reach USD$150,000/coin once BTC wallets account for 7% of Visa’s 4.5bn account holders.
UAE Exchange, an exchange based in the United Arab Emirates (UAE), is partnering with Ripple to launch a blockchain-based cross-border remittances platform by 1Q2019, as per a Reuters report on Thursday. The report details further that Finablr, a payments and foreign exchange company that owns UAE Exchange, observes a high level of remittance inflows from expatriate workers in the Middle East region. “We expect to go live with Rippel by Q1, 2019 with two other Asian banks,” said Finablr CEO Promoth Manghat, adding, “This is for remittances to start with, from across the globe into Asia.”
De Nederlandsche Bank, the Netherlands’ central bank, will soon require domestic cryptocurrency providers to obtain a license from the regulator to operate, as per a report by Dutch news outlet DeTelegraaf. The Netherlands' central bank is taking these measures in the hope that it will, “prevent such cryptocurrencies from being used to launder money obtained through crime or to fund terrorism.” In order to receive a license, cryptocurrency firms must maintain Know-Your-Customer procedures and report any suspicious activity to the Dutch central bank.
Eddie Hughes, a conservative member of the United Kingdom’s Parliament, suggested that Bitcoin (BTC) should be accepted as legal tender for tax and utility payments, according to news outlet Express.co.uk. The article discusses that Hughes, who is a self-described, “crypto enthusiast with amateur knowledge,” recently met with the Royal National Lifeboat Institution, which accepts cryptocurrency donations. This news comes after the US state of Ohio announced that it would begin accepting BTC as legal tender for tax payments.
Following a case in Canadian courts that resulted in a ruling ordering mistakenly sent crypto funds to be returned to their owner, a blog post from the University of Oxford Faculty of Law is noting that there could be repercussions with the case potentially setting a precedent for lost or stolen cryptocurrency claims. The Canadian court case’s ruling will require defendant Brian Wall to return USD$370,482 worth of Ethereum (ETH) tokens to the plaintiff, Copytrack. The blog post from the University of Oxford Faculty of Law reads, ‘This precedent may have major repercussions for the enforcement of claims regarding lost or stolen cryptocurrencies,” adding that the ruling allows the plaintiff to recover tokens, “in whatsoever hands those Ether Tokens may currently be held.”
Japan’s government is considering plans to ease cryptocurrency taxes in an effort to revitalize the domestic cryptocurrency and blockchain industry. This week, Japanese Congressman Takeshi Fujimaki proposed four significant changes to taxation requirements pertaining to digital assets, which include: a reduction on the cryptocurrency gains tax from 55% to 20%; elimination of taxes on crypto-to-crypto payments; elimination of taxes on miniscule cryptocurrency payments; and an adjustment that would allow cryptocurrency investors to carry forward losses across quarters and years, effectively until cryptocurrencies are ‘cashed’ out.
Jay Clayton, Chairman for the United States Securities and Exchange Commission (US SEC), said during a speech that Initial Coin Offerings (ICOs), “can be effective,” for fundraising, but that, “securities laws must be followed.” Clayton went on in his speech to comment on the US SEC’s work regarding distributed ledger technology (DLT), digital assets, and ICOs, saying that it is an, “area where the Commission and staff have spent a significant amount of time,” and, “that this trend will continue in 2019.”
Jay Clayton, the Chairman of the US Securities and Exchange Commission (SEC), expressed his optimism for distributed ledger technology’s potential impact on traditional financial markets in a testimony before the US Senate Committee on Banking, Housing, and Urban Affairs yesterday. According to a transcript published on the SEC’s website, Clayton said, “I am optimistic that developments in distributed ledger technology can help facilitate capital formation, providing promising investment opportunities for both institutional and Main Street Investors.” Additionally, Clayton highlighted that the SEC is, “Focusing a significant amount of attention and resources on digital assets and initial coin offerings (ICOs).”
Maxim Akimov, the Deputy Prime Minister of Russia, announced that no significant changes will be made to the draft of a bill concerning cryptocurrency regulation in the country, as per news outlet Finmarket. The bill was already approved by Russia’s parliament, the State Duma, in May 2018, although the bill has generated substantial discussion since. Since approval of the bill, all cryptocurrency and token-related terminology have been removed and replaced with the term “digital rights”. At the beginning of December, Pavel Krasheninnikov, Chairman of Russia’s State Duma, said that the bill needed to be, “significantly,” changed.
Pan Gongsheng, a deputy governor of the People’s Bank of China, highlighted that Security Token Offerings (STOs) in China are illegal while speaking at a summit in Beijing. As per a report by news outlet the South China Morning Post, Gongsheng told the summit that, “illegal financing activities through STOs and ICOs were still rampant in the mainland despite a nationwide clean-up of the cryptocurrency market last year.” In citing reasoning for the continued ban on STOs, Gongsheng explained that, “Virtual money has become an accomplice to all kinds of illegal and criminal activities.”
Pantera Capital, a blockchain and cryptocurrency-focused investment firm and hedge fund, is warning investors that as much as a quarter of their ICO project could potentially be violating US securities laws, according to a Bloomberg report. In a newsletter to clients, Pantera Capital warned, “While we believe the vast majority of the projects in our portfolio should not be affected, approximately 25% of our fund’s capital is invested in other projects with liquid tokens that sold to US investors without using Regulation D or Regulation S”
Russia has no intention of implementing Venezuela’s state-backed digital currency, the Petro, into commercial operations, according to a report by news outlet RIA Novosti. While speaking to reporters this week, Russian Deputy Finance Minister Sergey Storchak said, “Representatives from our tax service and central bank... got acquainted with the cryptocurrency Venezuela is introducing,” adding, “But no more than that. As for payments, they’re not happening yet.”
South Korea’s representative body, the National Assembly, held its first official meeting with seven of the country’s largest cryptocurrency exchanges on Monday. The purpose of the meeting was to debate cryptocurrency regulation between stakeholders of South Korea’s cryptocurrency industry. Cryptocurrency exchanges Bithumb, CobitCoin, Coinone, Upbit, Gopax, Coinplug, and Hanbitco were among the attendees of the debate, which reportedly focused on Anti-Money Laundering (AML) customer protections and Know Your Customer (KYC) procedures.
The United Kingdom’s Financial Action Task Force (FATF), an intergovernmental financial security body, is calling on the country’s government to increase monitoring of cryptocurrency markets. According to an official report last week, the UK must overhaul its Anti-Money Laundering (AML) and combat terrorist financing (CFT) efforts in order to prevent illicit activities with cryptocurrencies. “Virtual currency exchange providers are not yet covered by AML/CFT requirements,” the report details, adding, “this is an emerging risk and there is not yet evidence to suggest that broad scale ML/TF is occurring in the UK through this relatively small sector.”
The United States Commodity Futures Trading Commission (CFTC) is interested in learning more about the Ethereum (ETH) network, its technology, and the markets build around it. On Tuesday, the CFTC published a Request for Input (RFI) that requests the public’s feedback on different questions concerning Ethereum. The RFI explains that its goal is to inform the CFTC about Ethereum and similar emerging technology, saying, “The input from this request will advance the CFTC’s mission of ensuring the integrity of the derivatives market as well as monitoring and reducing the systematic risk by enhancing legal certainty in the markets. The RFI seeks to understand the similarities and distinctions between certain virtual currencies, including here ether and bitcoin, as well as ether-specific opportunities, challenges, and risks.”
The United States Securities and Exchange Commission (US SEC) is ordering that cryptocurrency asset manager CoinAlpha Advisors LLC pay a USD$50,000 fine, alleging that the firm conducted an unregistered securities sale. After forming in October 2017, CoinAlpha raised more than USD$600,000 from investors to invest in digital assets. In an official release, the US SEC said that CoinAlpha did not file a Notice of Exempt Offering of Securities, meaning that the firm breached securities laws by soliciting securities investors. Additionally, the firm allegedly did not adhere to proper know-your-customer procedures to verify that investors were accredited.
Venezuela is reportedly beginning to convert its citizens’ monthly pension payments into Petros, Venezuela’s controversial state and oil-backed cryptocurrency, according to a report by local economics blog the Caracas Chronicles. The conversion of Venezuelan pensioners’ payments into Petros came after the country already sent pensioners their monthly payment in the form of a check for Venezuelan Bolivars -- normally, upon receiving their check, pensioners would deposit their funds into a bank account where they could then withdraw fiat from local branches. The Venezuelan government, however, converted pensioners’ fiat payments into the Petro upon their deposit into a bank. In the first few weeks of the Petro’s existence, its value has risen from 9,000 to more than 15,000.
Warren Davidson, an Ohio Congressman and notable advocate of blockchain and digital assets, is floating blockchain technology as a solution to fund US President Donald Trump’s prospective US-Mexico border wall. While interviewing with NPR, Congressman Davidson suggested, “the American people, or whomever should choose to donate,” could pay for the border wall, adding, “you could do it with sort of like a crowdfunding site or you could do a blockchain and you could have WallCoins.”
“The long-term value of Bitcoin (BTC) is more likely to be USD$100 than USD$100,000,” says Kenneth Rogoff, a former Chief Economist for the International Monetary Fund (IMF) and the current Harvard University Professor of Economics and Public Policy. While writing an article for major UK news outlet The Guardian, Rogoff highlighted that, because BTC’s use is limited to transactions, it makes the digital asset more vulnerable to a bubble-like collapse. Rogoff also cited that BTC’s energy-intensive verification processes is, “vastly less efficient,” than systems that leverage, “a trusted central authority like a central bank.”
A new report by PeckShield, a blockchain security company that monitors various cryptocurrency ecosystems, details that decentralized applications (DApps) on the EOS (EOS) blockchain have lost as much as USD$1mm in hacks since July 2018. The report details further that DApps on the EOS network have sustained 27 breaches since July, which are responsible for the up to 400,000 EOS that have been compromised from hacks. Guo Yonggang, a blockchain security expert cited in a report on the matter by crypto media firm Blockchain Truth, believes that the hacks can be attributed to security problems with the DApps themselves, rather than with the EOS network.
A new study published by the Cambridge Centre for Alternative Finance on Wednesday finds that the number of unique ID-verified cryptocurrency users nearly doubled in in the first 3 quarters of 2018. The study details that total ID-verified users increased to 35mm in the first three quarters of 2018 from 18mm at the end of 2017, representing an increase of 94%. As per an analysis of the study by Bloomberg, the growth of crypto’s userbase despite the market decline, “could signal that an eventual recovery could be coming.”
Amid the continued cryptocurrency sell-off, only two cryptocurrency mining machines remain profitable, according to real-time data from ASICMinerValue.com. ASICMInerValue.com, which calculates the profitability of Application-Specific Integrated Circuit (ASIC) miners, indicates that only indicates that only the Ebank Ebit E11++ and ASICminer 8 Nano 44Th mining models are profitable for mining cryptocurrencies based on the SHA-256 hash function -- notable cryptocurrencies like Bitcoin (BTC) and Bitcoin Cash (BCH) use this has function.
Bitmain, a large Chinese cryptocurrency mining firm, announced that it is closing its development center in Israel, citing current cryptocurrency market conditions. In closing Bitmaintech Israel, the crypto mining giant was forced to fire all 23 employees. Among the employees let go is Gadi Glikberg, head of Bitmain’s Israeli branch and Vice President of International Sales, who said on the recent market turmoil, “The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation.”
Busan, a major South Korean city, will be the beneficiary of the South Korean government’s plan to spend 4bn Korean won (USD$3.5mm) to establish a blockchain-enabled virtual power plant (VPP). As per a report by South Korean news outlet Yonhap News Agency, the project will be angled as a national competition in 2019, hosted by South Korea’s largest electric utility, Korea Electric Power Corporation (KEPCO). The VPP will integrate the idle capacities of multiple energy resources through a cloud-based distributed ledger in order to optimize power generation and decrease costs.
Church’s Chicken, a large international fast food franchise, is partnering with Dash Venezuela to accept cryptocurrencies in its Venezuelan locations. According to an official press release, 13 Church’s Chicken establishments will begin accepting Dash (DASH) as payment following, “extensive and rigorous days of training,” staff to understand cryptocurrencies. With the addition of Church’s Chicken, more than 2,200 establishments in Venezuela accept DASH as payment.
Crypto.com, a Hong Kong-based cryptocurrency payments platform, announced the appointment of former PayPal executive Tyson Hackwood to serve as the firm’s Vice President and Head of Global Merchant Acquisition in an official press release today. Crypto.com aims to increase cryptocurrency adoption by both merchants and consumers through their point-of-sale (PoS) transaction terminals. Crypto.com CEO Kris Marszalek believes that Hackwood will be integral in furthering this goal, saying, “As we develop the Crypto.com Chain to fulfill the current industry need to pay and be paid in crypto, Tyson will play an important role in expanding the number and quality of merchants that are part of our network.”
Hyperledger, a notable blockchain consortium, is continuing its robust expansion after announcing the addition of 16 new members at the Hyperledger Global Forum in Basel, Switzerland. Among the notables to join the consortium are, Alibaba Cloud, Citigroup’s Citi Ventures arm, and Deutsche Telekom. The latest addition of 16 members brings the total membership of Hyperledger to more than 260 different companies. In a public statement, Hyperledger Executive Director Brian Behlendorf said that, “The growing Hyperledger community reflects the increasing importance of open source efforts to build enterprise blockchain technologies across industries and markets. The latest members showcase the widening interest in and impact of DLT and Hyperledger."
Jeremy Henrickson, the former Chief Product Officer at Coinbase, has departed the US-based cryptocurrency exchange after serving since July 2016. “Jeremy’s contributions to Coinbase over the past two years were invaluable,” said a Coinbase spokesperson, adding that, “he helped to build our scrappy startup team into a high-functioning product and engineering organization -- overseeing a 5x+ growth of the team.” Henrickson’s departure comes after long-term Coinbase executives Adam White and Hunter Merghart left the US-based cryptocurrency exchange in recent months.
LinkedIn’s, “2018 U.S. Emerging Jobs,” report released on Thursday ranks the role of blockchain developer as the fastest growing job in the United States. The report by LinkedIn indicates that blockchain developer jobs have increased 33-fold in the past 12 months alone. San Francisco, New York City, and Atlanta are among the cities with the highest demand for blockchain developer jobs.
Orbs, a unique hybrid blockchain platform, raised more than USD$15mm in cryptocurrencies to fund its development of a public blockchain, according to a company blog post. South Korean application provider Kakao lead the fundraising efforts with a representative telling CoinDesk that the company, “always seeks to invest and support innovative startups, and Orbs is a good example.” In total, Orbs raised 139,000 Ether (ETH) and 892 Bitcoin (BTC), amounting to roughly USD$15.4mm. Orbs aims to build a public blockchain with this funding that is, “universal,” and, “scalable,” for decentralized applications (DApps) with the, “liquidity of a base layer.”
Samsung has reportedly filed patent applications for three different blockchain-related trademark requests that all pertain directly to smartphones, according to news outlet Galaxy Club. Specifically, the patents named “Blockchain KeyStore”, “Blockchain Key Box”, and “Blockchain Core” all pertain to cryptocurrency custody capabilities on smartphones. This news comes amid the release of HTC’s Exodus 1 and Sirin Labs’ FINNEY, both of which are being marketed as blockchain smartphones with cryptocurrency custody capabilities.
https://preview.redd.it/e7xy9m8zj3231.png?width=1024&format=png&auto=webp&s=33d75751a8699b76c77cb6a8d702e230b6906343 Let’s talk about bitcoin, toxicity and inclusiveness. (Boy, my Twitter feed is going to have fun over the next few days.) To start with, let me take a position: I stand with those people, especially women, who’ve lately been calling out maltreatment from members of the bitcoin community and citing rude and abusive behavior as proof of that community’s lack of inclusiveness. These are people who believe in cryptocurrency technology’s potential but feel discouraged to believe that they belong to the community’s dominant white-male subculture. If this technology is to fulfill its global potential, the community associated with it must confront this problem. But the real point of this column is not to just defend these critics. It’s to debunk one of the more common positions adopted by those who take issue with their complaints, particularly on Twitter. In doing so, I hope to emphasize just how important the concepts of “community” and “culture” are to the healthy development of crypto technology and the ecosystem growing around it.
The line that’s most often thrown back at those calling out incivility is that bitcoin is nothing more than a technology, a tool, and that it’s meaningless to attach to it value judgments relating to human behavior. Bitcoin is amoral, apolitical and a-cultural, the argument goes, and like any technology it is used by good and bad people alike. These pundits, warning of a political correctness-based threat to free speech, will then advise the injured party to take issue directly with the bad actors but refrain from agitating for community-wide change. A perfect example of the genre came from outspoken lawyer Preston Byrne. Clever, yes. But it’s extremely unhelpful, because the examples given do not share equivalent terms of reference. Byrne’s “hammer” refers solely to the steel implement that tradesmen use. By contrast, people complaining about “bitcoin” are clearly using the word in a much wider context than in merely a reference to the code, to the ones and zeros that comprise the bitcoin protocol. They are inherently talking about the wider ecosystem and community gathered around the idea of bitcoin. So, let’s equalize the terms, shall we? We can turn each of these nouns into a modifier of the word “community.” While it might sound silly to talk about a “hammer community,” there may well be groups of hammer-obsessed souls who debate questions of design and ease of use at meetups and in chat rooms. If so, I’m going to guess that that community would probably also be predominantly male. But the real issue is that such a hammer community is going to be far less important to the future design and evolution of hammer technology than bitcoin’s community is to its. I’m no expert, but I don’t see a great deal of change in hammer technology having occurred over the centuries and I’m not sure people expect much in the future. As such, we don’t see much jockeying among users to ensure that proposals for hammer upgrades are implemented and standardized to their preferred design. By contrast, the open-source technology behind bitcoin is in a constant state of evolution. It is, by definition, under development, which is why we talk about the engineers who work on it as “developers,” not “custodians.” As such, there is a constant battle of interests over who gets to modify the code. Exhibit A: the block-size debate. Counter-arguing that those who don’t like the process can just fork the code, as the large-blockers did, and set up their own new community, doesn’t cut it for me. Bitcoin is the brand that matters. Any newcomer will struggle to achieve the same network effects. Secession just isn’t viable for anyone who likes its current design but doesn’t like how its future is being defined. Also, is there a “hammer ecosystem?” Maybe. But beyond producers of nails, and perhaps steel and rubber or wood suppliers, you can hardly call it a complex ecosystem. Bitcoin, by contrast, which purports to reinvent the global system of money, has attracted an inherently vast array of different technology providers, all of whom have competing interests in how it is designed, managed and marketed to the world. I’m not just talking about businesses applications built on top of it, but also the developers of related encryption, payment channel, smart contract and other vitally important technologies, all of which are themselves in a constant state of flux. (I’m guessing that the exhibition halls at hammer conventions don’t have quite the same spread of offerings as cryptocurrency events such as Consensus.) Saying that bitcoin is nothing but a tool, is like saying that music is nothing but a system for ordering different audible tones.
Money = community
When Paul Vigna and I wrote The Age of Cryptocurrency, we spent a lot of time chronicling the emergence of the community that had formed around bitcoin, which we saw as fundamental to its success. It struck us that the notion of a bitcoin community was so prominent — the “c” word was always being bandied about — because bitcoin embodied a profound and sweeping social idea. It offered nothing less than a reinvention of money, a revolution in the entire system for coordinating human value exchange. Money only works to the extent that there is widespread belief in it, that people buy into its core myth. Money, Felix Martin says, is a social technology, by which he means that its functionality and usability depend far less on the physical qualities of the token that represents it than on the collective agreementamong large communities of people that their token captures, represents and communicates transferable value. This is true whether we’re talking about gold, dollar bills, entries in a bank account, or cryptocurrency. By extension, then, for any form of money to succeed, it must sustain a vibrant, growing community.
Communities = culture
The thing about communities is that they inevitably develop cultures. In self-defining their boundaries of belonging, they develop shared ways of seeing and language — akin to a kind of social protocol – that regulate (in a very unofficial, and quite subconscious way) their members’ behavior. As they evolve, cultures can become more or less open, more or less inclusive, more or less abrasive in their treatment of outsiders. And inevitably, these cultural features will either encourage or impede the growth of the community. All this should hardly be a revelation. Anthropology, the study of culture, is a globally widespread and influential field (one that is now appropriately turning its attention to cryptocurrency communities.) Studies of U.S. culture, from Alexis de Tocqueville down, have rightly pointed to the inclusiveness of the founding fathers’ ideas as a key driver of its economic expansion. In fact, American culture is arguably its most important ingredient for success, a social manifestation of Joseph Nye’s notion of the United States’ “soft power.” So, yes, bitcoin culture really, really matters. If the compelling ideas behind permissionless, peer-to-peer exchange and censorship-resistant money that attract people of all stripes to it are to retain those people’s interest and grow in influence, the bitcoin community needs to evolve a more inclusive culture. The only way to do that is to spur the kind of open debates that have always driven the progress of human culture — those which shifted norms and mores to the point that it became unacceptable to own slaves, to spit in public, or to jump a queue. So, listen up, bitcoin. It’s time to confront your toxicity.
[H] Entire Steam Gift Inventory [W] $250US worth Bitcoin or Skrill
Had some old game gifts and I figured I may as well cash out and dump the lot since I haven't really traded in ages. Now selling off individual gifts instead of bulk sale - Looking for listed US$ value in bitcoin or skrill Steam gifts include:
3D Realms Anthology - Steam Edition - $45
4 Elements - $20
Absconding Zatwor + Break Into Zatwor + Fiends of Imprisonment - $20
RIP - Trilogy™ - $5
Action Indie Bundle - $5
Aerena x3 (Shows as Unknown package 33318) - $10 ea
AirMech 2 [NO LONGER VALID] x6 - $10 ea
Archery Practice VR - $2
Arma 3 Alpha Lite - Gift Copy - Expired - $20
Art Appreciation Pack x2 - $5 ea
BEEP - $5
Bionic Commando: Rearmed - $10
Blackwater Bayou VR - $2
Camera Obscura - $5
Caster (IND) - $5
Cobi Treasure Deluxe - $5
Controller Companion - $5
DarkBase 01 - $10
Dead Bits - $5
Dead Island: Epidemic x21 - $5 ea
Dead Island Retro Revenge - $5
Defiance - $10
Defy Gravity Extended x2 - $5 ea
Despair x4 - $5 ea
DETOUR x3 - $5 ea
Deus Ex: Human Revolution - Standard Edition - $20
Deus Ex: Human Revolution - The Missing Link DLC - $10
Deus Ex: Human Revolution - Explosion Pack DLC - $10
Deus Ex: Human Revolution - Tactical Pack DLC - $10
Dinosaur Hunt - $1
Don't Starve Together - $10
Down To One x2 - $10 ea
Eaten Alive - $5
Eleusis - $10
Endless Space Collection x2 - $15 ea
F-1 drive x2 - $10 ea
Face It - A game to fight inner demons - $5
Forge - Starter Pack x4 - $5 ea
Frozen Synapse Prime - $10
GEARCRACK Arena + Soundtrack x2 - $10 ea
Genital Jousting - $10
GestureWorks Gameplay - $200
Ghostbusters: The Videogame - $45
Greyfox RPG - $5
Grid - $20
Gun Meta - $5
Gun Monkeys (RU) - $4
Gun Monkeys x4 - $5 ea
Hero Siege - $5
HotLead - $5
How to Survive - Storm Warning Edition - $10
How To Survive: Third Person Standalone - $10
INK - $5
JRPG Bundle x2 - $5
Legendary x3 - - $2 ea
Lexica - $5
Lilly and Sasha: Curse of the Immortals x4 - $5
Magicka - $5
Magicka 2 Sneak Peek Gift x2 - $20
Minion Masters x5 - $1
Nexuiz - $5
Obulis - $5
Out There Somewhere - $5
PARTICLE MACE - $5
Particula x5 - $5 ea
PAYDAY™ The Heist (RU) - $5
PlayWay's Sim Bundle 2014 x3 - $10 ea
Polarity - $5
Prince of Persia®: The Sands of Time - $10
Revolution Ace x3 - $5 ea
Rising Storm Beta Extra Copy - $10
Robotex - $5
Star Saviors - $5
Sins of a Dark Age - Early Access Gift x2 - $10 ea
The latest to emerge on the scene is Chronicled, which has raised $3.4m to explore whether blockchain tech can be a value-add for the purchasers of collectible sneakers. At the time of writing this article, 1 bitcoin’s value is roughly equal to $10,600, which is insane. This means it would take less than a 100 bitcoins to make anyone a millionaire. Because of this, acquiring and trading any sort of cryptocurrency is a risky business that requires a professional tool like the Bitcoin System. The Bitcoin System is an online trading platform that uses an AI ... Bitcoin loses half of its value in two-day plunge. March 14, 2020 by admin 0 Comments. Finance. Share on Facebook. Share on Twitter. Share on Pinterest. Share on LinkedIn. Omar Marques LightRocket Getty Images. Bitcoin lost its allure as a safe-haven asset this week. The world’s first and most widely held cryptocurrency dropped 50% over the past two days. Bitcoin — sometimes referred ... Chronicled, a blockchain startup headquartered in San Francisco, has introduced an Ethereum blockchain-based physical asset verification platform that enables companies and manufacturers to register and verify physical items in an irrefutable and decentralized network.. Chip companies, physical IP creators and manufacturers can authenticate embedded Bluetooth Low Energy (BLE) and Near Field ... Susanne Somerville, CEO of Chronicled, said “Incorporating HIN data into the MediLedger Network is an incredible example of the value MediLedger can offer as a platform. Future solutions can now be developed with HIN data already established as a key building block. We are very excited about the partnership with HIBCC and all the ways we can work together to bring efficiency and accuracy to ...
Bitcoin SV price fluctuates wildly - What are the use cases and fundamentals of BSV? by HardForking. 1:43:39. The Bitcoin Vision by Dr. Craig Wright by Bitcoin Association. 31:10. SiGMA 2019 ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Samantha Radocchia is blockchain pioneer and co-founder of Chronicled, Inc. She shares the ways blockchain will change society for the better. Book Samantha Radocchia for your event: https://www ... Skip navigation Sign in. Search The TRUTH About Bitcoin's Price! - Duration: 13:57. ReadySet 21,911 views. 13:57. Rich Dad Poor Dad Summary (Animated) - Duration: 8:52. Chronicle Living Recommended for you. 8:52. Micro Bitcoin ...