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  • Bitcoin mining difficulty is increasing with hashrate in 2019

    Bitcoin mining difficulty is directly proportional to the hashrate, or so it the popular theory. The next halving event is scheduled for April 2020 owing to the increased hashrate. The year 2020 will be marked as a vital milestone in Bitcoin (BTC) history as it reaches its third (3rd) halving. The halving is preceded by a very ensuing year, 2019, consisting of varying market trends for Bitcoin. The year, 2019 commenced with a bullish trend for the king of cryptocurrency, whereas the entire stock market experienced an extremely bearish wind. This bullish trend helped maintain the stability of the cryptocurrency. While Bitcoin peaked at thirteen thousand and eight hundred dollars ($13,800) on 26th June 2019. The second half of 2019, however, is devoted to speculating the next bullish trend or next peak of the cryptocurrency. Bitcoin mining difficulty: What to expect? Prior to its third halving, however, various reports including that of Token Insight say that the mining of Bitcoin blocks is to become increasingly difficult up till the halving itself. According to the reports, the mining equipment ordered by…

    Sep 16, 2019
  • Germany’s Largest Bank Joins JPMorgan’s Blockchain Network

    Germany’s largest bank, Deutsche Bank, has joined JPMorgan’s blockchain-based network, the Interbank Information Network (IIN). Two years in operation Launched as a pilot in 2017, the JPMorgan-led blockchain initiative now has a network of 320 banks that have entered the platform to swap global payments data using the Ethereum network, the Financial Times reported on Sept. 15. Takis Georgakopoulos, head of payments at JPMorgan, expressed hope that Deutsche Bank will be the first of several other large banks to join IIN. According to the report, Deutsche Bank is the world’s biggest clearer of euro-denominated payments. IIN will enable Deutsche Bank to offer better client services, according to the bank’s global head of cash management Ole Matthiessen. Matthiessen, who occupied the position in March 2019, explained that the bank expects IIN to reduce the cost of processing difficult payments. 400-member target by year’s end The IIN network is based on the JPMorgan-developed Quorum platform and intends to tackle the major challenges of sharing information between banks and speed up transactions to recipients. Quorum is based on the Ethereum blockchain, which was…

    Sep 16, 2019
  • Bitcoin (BTC) Rally Towards $11,000 Still Possible But Not Very Probable

    Bitcoin (BTC) recently invalidated a descending triangle and has now turned it into an ascending triangle. This is not something we get to see often but if you focus on the play here, this is not surprising at all. Trading is more about psychology than it is about drawling lines and patterns on a chart. There are a lot of traders who can draw good lines and patterns but they can’t make profitable trades. The reason that does not work is because if you can draw pretty lines and patterns, you are the market maker’s favorite victim. They will play with your mind to keep invalidating certain lines and patterns till you reach the conclusion that technical analysis does not work. I am by no means understating the significance of lines and patterns on a chart. I’m saying that you can find most of them for free on the internet. You don’t even have to draw them yourself. To a lot of people, technical analysis is about charting which is the wrong approach. We need to focus more on the…

    Sep 15, 2019
  • Bitcoin Is ‘The Most Extraordinary Bubble of Our Generation’ Says Trader – CCN.com

    Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte The next bitcoin bull market is only getting started, analyst claims. | Source: Shutterstock Bitcoin is up by almost 180% year-to-date. To some, the disbelief rally has run its course, and it is now time to short the market. Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Trade Tosser Tweet | Source: Twitter While a quick short might be profitable now, one trader believes that the rally from $3,000 to almost $14,000 is nothing but a warm-up. According to an analyst, all four BTC bull runs were massive local bubbles. In his humble opinion, bitcoin is the future. Analyst: Every Bitcoin Bull Run ‘Has an Order of Magnitude’ If you look at the history of every bitcoin bull run, you’d see that every run skyrocketed by a minimum of over 340% from the previous bull cycle top. Date Bull Market Top Percentage Change April 2011 $0.80 N/A April 2013 $259.34 32,317.5 percent November 2013 $1,163 348.85 percent December…

    Sep 15, 2019
  • NBA Player Spencer Dinwiddie Tokenizes Contract with Blockchain

    Professional basketball player for the Brooklyn Nets Spencer Dinwiddie has opted to turn his National Basketball Association (NBA) contract into a tokenized bond. Investors will be able to invest in the security and earn interest based on Dinwiddie’s performance on the field of play, reports The Athletic on September 12, 2019. Crypto on the Courts Per sources close to the matter, Spencer Dinwiddie has caught the crypto fever and is now looking to launch own blockchain-based digital asset. Reportedly. Dinwiddie is signing a new three-year contract extension worth $34.36 million with Brooklyn Nets and has opted to convert his NBA contract into a digital investment. Notably, the securitization of  Dinwiddie’s NBA contract will enable him to get a significant upfront payment that would enable him to issue tokens to investors who will, in turn, earn interest on the cryptoasset. Risks and Grey Areas Further reports revealed that Dinwiddie has a player option which is worth $12.3 million in 2021; however, there are uncertainties on how it will impact on token holders if he opts out of the deal and earns…

    Sep 15, 2019
  • ETH Privacy Startup Aztec ‘Ignites’ Its SNARKs Generation Ceremony

    Ethereum (ETH) privacy startup Aztec announced the launch of its zero-knowledge succinct non-Interactive argument of knowledge (SNARKs) generation via a cryptographic ceremony called Ignition. In a press release shared with Cointelegraph on Sept. 15 the startup also announced the closing of its latest round of investment with participation from A.Capital, Coinbase and Libertus Capital. A cryptographic ceremony Per the release, the multi-party computation ceremony is meant “to generate a set of encrypted points which will be used to derive all future Aztec notes.” The process will build an open source “reference string” that the company believes will be used by both Aztec and future cryptosystems. Notably, the data generated will include so-called SNARKs: “These include universal SNARKs, which will enable an almost limitless range of uses – from fully decentralised private banking to anonymous voting systems.” ZK-SNARKs Zero-knowledge SNARKs allow to prove that a piece of information is true without revealing anything about it. That being said, a major disadvantage is that SNARKs’ security depends on the secrecy of a seed — a huge, randomly generated number. If a person…

    Sep 15, 2019
  • Is a Bitcoin explosion up next?

    ECB cuts interest rates in an attempt to save fiat from certain doom. But is this step necessary? Saving fiat is a key priority for the European Union’s Central bank even if it means sinking the interest rates below zero (0). The monetary body overseeing the Euro has the interest rates cut by 10 BSP and so the numbers went from 0.1% to -0.5%. The central bank aims to buy bonds and other financial assets worth twenty-two billion Euros (€22B) in bonds and other (tangible) assets while having the press mint more fiat that doesn’t yet exist- quantitative easing (QE)- so that economic stability isn’t threatened. Bitcoin unsurprisingly is certainly not on the list of monetary assets. ECB cuts interest rates? Why? This is a direct result of President Trump calling in the Federal reserves to cut down the monetary rates to zero (0) or less. Negative rates aren’t a far-fetched ideology anymore and the former chairman of the monetary authority, Alan Greenspan saw this coming. He, however, had predicted the monetary rates to drop into the negative zone for the…

    Sep 15, 2019
  • Bitcoin Price Hits $12,000 on Kraken Following Order Matching Glitch

    Crypto trading service Kraken has revealed the reason for the abnormal Bitcoin price on its platform was due to an order matching bug. Abnormal Bitcoin Price Spread on Kraken On Saturday (September 13, 2019), the XBT/USD trading pair on Kraken experienced a $2,000 takeaway in both directions. 1/3 Yesterday a test of an unreleased advanced order type encountered a bug which resulted in the order’s prices being matched against the wrong side of the book. Some clients bought from the tester at $8000 and others sold at $12000 without clearing the intervening liquidity. pic.twitter.com/iG3sEPCVXS — Kraken Exchange (@krakenfx) September 14, 2019 In a Twitter thread published on Sunday (September 14, 2019), Kraken provided an explanation for the Bitcoin price anomaly. An excerpt from the tweet reads: Yesterday a test of an unreleased advanced order type encountered a bug which resulted in the order’s prices being matched against the wrong side of the book. Some clients bought from the tester at $8000 and others sold at $12000 without clearing the intervening liquidity. According to some traders, such a bug with severe…

    Sep 15, 2019
  • What Are the Main Advantages of LCG Energy Among Other Energy Projects in the Blockchain Space? » The Merkle Hash

    The year 2018 has been marked by a rapidly increasing interest in blockchain technology and its potential benefits to a wide array of different industries. The market was thriving, which allowed the overall funding acquired by blockchain projects to reach unexpected highs. In the first half of 2018 alone, close to 6B USD were acquired by blockchain startups. The average success rate of ICOs stood at almost 50%, a mind blowing number that we will never witness again in the now matured state of the ICO market.  One of the many unique perks of blockchain technology is its ability to disrupt industries plagued by inefficient or dubious practices, with the financial sector being the universal example of where blockchain could bring much needed changes. New startups across hundreds of industries were quick to spot the application of the technology to virtually every sector. The energy industry was no exception – blockchain-based projects in late 2017 and early 2018 such as WePower ($40M), RestartEnergy ($30M), EnergiToken ($15M) successfully completed their token sales by hitting their soft and / or hard caps….

    Sep 15, 2019
  • Developers of Ethereum DEX Protocol AirSwap Disclose Critical Exploit

    Ethereum (ETH) decentralized exchange protocol AirSwap’s developers announced that they have discovered a critical vulnerability in the system’s new smart contract. AirSwap’s team announced its findings and a possible solution for all potentially affected users in a Medium post published on Sept. 13. A limited vulnerability Per the release, on Sept. 12 AirSwap’s development team found a vulnerability in a new smart contract, which has already been reverted to an older version in under 24 hours after the discovery. The exploit in question could have allowed an attacker to perform a swap without requiring a signature from a counterparty under certain conditions. The scope of the vulnerability is reportedly limited: “The affected code was present in the AirSwap system for under 24 hours, and only affects some users of AirSwap Instant between midday September 11th and early morning of September 12th. We initially identified 20 vulnerable addresses matching this pattern and quickly reduced it to 10 accounts that are currently at risk.” Only nine addresses are at risk AirSwap notes that the exploitable smart contract was reverted immediately after the…

    Sep 15, 2019
  • UK cryptocurrency regulations may soon extend to monitor user wallets |

    UK cryptocurrency regulations have been the Financial Action Task Force (FATF) compliant, but it appears that the government may opt to monitor user wallets. To ensure money laundering is curbed, the Financial Conduct Authority (FCA) of the United Kingdom (UK) has proposed certain limitations for software programs that are built by crypto developers. The Anti-Money Laundering and Counter-Terrorism Financing regulations are expected to be extended for entities or institutions that are concerned with digital transactions and cryptocurrencies. These requirements will be enforced in the upcoming year. The regulations will also apply to companies that produce open-source software and those that produce light wallet software. UK cryptocurrency regulations: Tracking transactions The requirements were initially proposed as a decision of her Majesty’s Treasury. The decision aimed to widen the approach of Anti-Monday Laundering and Counter-Terrorism Financing regulations for companies that deal with cryptocurrencies. This proposal is expected to be approved and enacted into United Kingdom’s Law by Q1 2020. Coin Center; a research institute for cryptocurrency that is based in the United States, has spoken against the extension of these regulations, exclaiming…

    Sep 15, 2019
  • These 4 NFL Teams Are Either in Salary Cap Nirvana…or Hell – CCN.com

    Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte | Image: Shutterstock The NFL season is underway, and teams that sign high-profile players to high-profile contracts will soon learn if they got good value for their money. There been a host of high-profile deals in the past several years, and all of these have impacted salary caps on virtually every team. Despite Jerry Jones and the Dallas Cowboys insisting that they would not set the market when signing running back Ezekiel Elliott to a contract extension, they did just that with his six-year, $90 million deal. The Dallas Cowboys may also find themselves setting the market considering Dak Prescott’s perfect performance against the New York Giants on Sunday, along with Amari Cooper’s continued dominance as a receiver. Then again, the Cowboys have $24 million of space this year, and $88.3 million next year. Salary cap calculations are not always the easiest things to determine, because the rules can be complex, and AI is messing with computations. The NFL uses a hard cap, meaning that every team must remain under…

    Sep 15, 2019
  • Browser Extensions Can Help Scammers Steal Your Bitcoin: Casa CEO

    Browser extensions can help scammers steal your crypto Casa CEO Jeremy Welch warned the audience at the Baltic Honeybadger conference in Riga this weekend. “Browser extensions impose major risks, and these risks haven’t been discussed until this point,” Welch said. Extensions can gather a wealth of data, which can be leaked, stolen, and used by scammers. One example is browser history, which can expose users’ online habits, including crypto-related site visits. “Make sure you don’t expose your bitcoin addresses anywhere,” Welch warned. Another thing to keep in mind is that some extensions capture users’ KYC information and can leak it to scammers. The only major multisig system that requires KYC at the moment is the one supplied by Unchained Capital, Welch said. He warns against commonly-used consumer software that gathers identity data. As an example, Welch demonstrated how an extension providing wallpapers with inspiring quotes or other content was actually stealing data as you filled in KYC forms. The malware stole graphical data, like a photo of your driver’s license, which is captured as a code and then easily decoded,…

    Sep 15, 2019
  • Billionaire Investor James Richman Doubles Down On Crypto As Demand From Institutional Clients Increases

    Since the first release of cryptocurrency in 2009, Bitcoin has been gaining major popularity among technology enthusiasts and investors alike to the point where many institutional organizations and investors have gradually embraced it in their investment portfolio.  Before all the buzz though, Latvian-born billionaire investor James Richman has long been one of the major proponents of Blockchain and cryptocurrencies. Richman known to have continuously increased the returns for his clients due to his many contrarian approaches.  History of cryptocurrency Cryptocurrency is a digital asset known as a new breed of investment funds. One of the most popular of its kind is Bitcoin, the first cryptocurrency ever established. Satoshi Nakamoto, the name used by the unknown person (or a group of people) who developed Bitcoin, published the white paper called “Bitcoin: A Peer-to-Peer Electronic Cash System” in October 2008.  The white paper explains the practicality and purpose of the Bitcoin blockchain network. In January 2009, Nakamoto commenced the Blockchain technology by mining the first block of the Bitcoin network. The first recorded use of Bitcoin was in May 2010 when Laszlo…

    Sep 15, 2019
  • Trump Administration Goes After North Korean Bitcoin Hackers –

    The U.S. Treasury has announced sanctions targeting North Korean cybercrime syndicates responsible for over $2 billion in bitcoin exchange hacks. OFAC Sanctions North Korean Bitcoin Hacking Syndicate The U.S. Department of the Treasury announced the news in a press statement issued on Friday (September 13, 2019). According to the press release, the department’s Office of Foreign Assets Control (OFAC) is going after three North Korean-sponsored hacking syndicates — Lazarus Group, Bluenoroff, and Andariel. The latter two are thought to be sub-divisions of the Lazarus Group. Commenting on the decision to levy sanctions, Treasury Under Secretary for Terrorism and Financial, Sigal Mandelker, said: Treasury is taking action against North Korean hacking groups that have been perpetrating cyber attacks to support illicit weapon and missile programs. We will continue to enforce existing U.S. and UN sanctions against North Korea and work with the international community to improve cybersecurity of financial networks. Apart from the 2014 Sony hack and the WannaCry ransomware attack, these state-sponsored cybercrime groups have been implicated in numerous Bitcoin exchange hacks. As previously reported by Bitcoinist, these attacks have…

    Sep 15, 2019
  • Ethereum Price Flashing Bullish — Can ETH Trigger an Altcoin Revival?

    For the past two weeks, Ether (ETH) price has been a frequent topic of discussion among traders. Investors are beginning to wonder if the altcoin has finished its retrace from a 2019 high at $364 and this week Ether settled at the $170 support and proceeded to reverse course. Cryptocurrency Monthly Performance. Source: Coin360 While this is not terribly exciting, and not convincing enough to indicate a trend reversal, the excitement comes from the interpretation that if Ether bottoms and reverses course, other ailing altcoins will follow suit.  Traders will remember that starting December 2018, Ether and Litecoin kickstarted the rally that would affectionately be dubbed “altseason.” This is probably where all the excitement surrounding Ether’s recent 15.31% is coming from.  Let’s take a look at the ETH/USD and ETH/BTC charts to see what’s going on. Ether attempts to change the trend Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte ETH/USD Daily Chart Source: TradingView As the daily chart shows, Ether managed to pop above the descending wedge after a double bottom slightly below the $167.50 support. The…

    Sep 15, 2019

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