Asian Cryptocurrency Trading Roundup: Top Altcoin is Iota

FOMO Moments

Many were expecting markets to correct this weekend following a couple of days of solid gains across the board. The good news is that they have remained above $300 billion total cap level and Bitcoin has held its ground trading just over the key $8,000 level. The big daddy of crypto has remained stable in the last 24 hours gaining just over one percent, altcoins have also stayed largely in the green and the rally is holding up for now. As usual one crypto is outperforming its brethren this morning and that coin today is Iota.

Coinmarketcap is reporting a 12% gain for Iota during the morning’s Asian trading session. Most of the other altcoins have remained at the same level for the past 24 hours but Iota continues to make gains. It is currently trading at $1.50, up from $1.36 this time yesterday. Volume has decrease though indicating that the bullish pressure may be slowing down. Over the week Iota has made around 50% from $1 this time last weekend. The monthly picture also shows solid gains of around 45% for this altcoin. Against Bitcoin Iota has increased by almost 10% to 18600 satoshis from 16900 sats this time yesterday. Over the month its gains against BTC have been even stronger at 20% from 13800 satoshis this time last month.

The Internet of Things (IoT) based crypto seems to be riding on the back of the general wave of buying pressure over the past few days. Falling to below a dollar several times over the past few weeks Iota has been viewed as a good buy. Iota developers have adopted a slightly different approach to regular blockchain cryptocurrencies and use a blockless based distributed ledger called Tangle. The team was hit with bad news back in January when $4 million in Iota was lifted in a hack that exploited the seed generation process used to access Iota wallets.

Bitfinex currently dominates all trade in Iota with around 40% of the total volume, Binance takes second place with around 35%. Total trade volume has fallen over the past 24 hours from $88 million to $53 million where it currently stands. Iota is ranked at number 10 on the market cap charts with just over $4 billion, it peaked at $5.37 (43000 satoshis) on December 6.

Total crypto market capitalization has remained steady in the past 24 hours and currently stands at $323 billion. For this to be considered a true market recovery it will need to make a new higher high above the $355 billion it reached during the rally on March 22. Other altcoins with strong growth this morning in Asia include Nem, Ontology, and Siacoin.

More on Iota can be found here: https://iota.org/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

The post Asian Cryptocurrency Trading Roundup: Top Altcoin is Iota appeared first on NewsBTC.

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Company Aims To Become ‘Amazon Of Sharing Economy’ With Blockchain App

A company is building a Blockchain-based system to eliminate fragmentation in the sharing economy – and creating a single app that gives users access to “any available asset they wish to rent, borrow or share.”

A company is building a Blockchain-based system to eliminate fragmentation in the sharing economy – and creating a single app that gives users access to “any available asset they wish to rent, borrow or share.”

ShareRing claims the current market is extremely inconvenient for consumers. Although thousands of companies exist, many of them are specialized in one particular niche, such as caravans or office space.

This forces users to go through the arduous process of registering multiple accounts – and, given the fact that some of these small businesses only operate in a heavily localized area, there’s no guarantee that the items they need to borrow will be available where they live.

The Australian company has the goal of becoming the “Amazon of the sharing economy,” enabling users to lease “assets” from a broad range of categories through a single smartphone app. They would be connected to individuals nearby who have items they are willing to share, while rental companies would be able to develop their own “mini” app within ShareRing to reach greater numbers of prospective customers. ShareRing is already exploring deals with big brands, and the latest partnerships will be announced on its website.

In its white paper, the company lists areas where its technology could prove useful. Some examples include renting cars, trucks and trailers, as well as booking delivery drivers, sharing gardens, swapping books, co-housing, car sharing and social dining.

ShareRing’s Blockchain platform, known as ShareLedger, is already in development. “Highly customizable” smart contracts will be used to complete transactions, with the company stressing that typical users are not going to require advanced technical knowledge in order to use the platform.

“Taking things to the next level”

The team behind ShareRing already have experience in this industry after starting the vehicle-sharing brand Keaz in the middle of 2013. Offering solutions for both corporate users and consumers, the company now has offices in five countries – and its main technology, KeazACCESS, was launched in May 2015.

Executives say they have “decided to take things to the next level” through Blockchain because a company is yet to help this industry achieve its full potential. Their white paper argues that most people are even unable to name five businesses operating within the sharing economy – and the two examples most commonly used as answers, Airbnb and Uber, only cover two types of assets available to the public.

ShareLedger is also going to feature a dual token mechanism. Whereas SharePay is the currency that customers will use to rent assets, ShareToken allows providers to pay for access to the Blockchain. All users will be able to access their balances for these tokens in a lightweight wallet accessible from PCs and smartphones.

“Small transaction fees” are charged to providers who use ShareRing. There are one-off charges whenever individuals or businesses add an asset to the platform. Providers are also charged if “attributes” need to be added, allowing extra bits of information such as a Vehicle Identification Number to be linked to the asset. Finally, they will pay a fee every time their asset is rented out to a ShareRing user.

Growing the ecosystem

At the heart of ShareRing’s system will be a “clever, integrated app” which uses geolocation to show users which services are available nearby – and within two years, the company hopes that up to 1 mln assets will be available to share around the world.

Its Blockchain system will be publicly available by Sept. 2018, and KeazACCESS will be the first “client” integrated into ShareLedger.

ShareRing’s token sharing event is set to take place in May, with the company planning to run token hunts and several other competitions to spread the word and raise awareness of the project.

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

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Citizen Zuck: Facebook Claims To Protect Us From Scams, But Who Will Protect Us From Facebook?

Facebook wants to protect you from crypto ads. But the company is in a bad position to make such choices for others.

The internet’s oligopolies are not fond of Blockchain. Early this year, Facebook broke the ice with instituting a blanket ban on all cryptocurrency and initial coin offering (ICO) ads; not long after, Google and Twitter followed suit. While the stated rationale for the ban is protecting users from “misleading or deceptive practices” that are “frequently associated” with the cryptocurrency business, industry commentators ponder on more mercenary considerations that could likely prompt tech platforms to enforce hostile policies. For one, cracking down on crypto is a relatively inexpensive way to alleviate the public’s wrath, as the narrative of the big tech’s lack of social responsibility is gaining traction in the background. Others in fintech view the ban as an outright manifestation of the Silicon Valley giants’ general antagonism towards the emerging Blockchain-powered economic and social ecosystems. After all, these ecosystems are informed and inspired by the ideas that are potentially threatening to their dominance in the long run.

Furthermore, the ban on cryptocurrency and ICO advertisements is not the only way Facebook is putting pressure on fintech enterprises these days. Consider this: for the most of 2017, Facebook’s rate of approval for Cointelegraph (CT) ads promoting individual articles plateaued at around 75 percent. Over the last few weeks, however, the rate plummeted to just 40 percent, without any notice from the company. It remains to be seen how many people have been saved from misleading and deceptive practices by the virtue of not being exposed to CT’s coverage of the Blockchain world.

Disheartening as it is, such a clampdown is hardly a deviation from how Facebook routinely does its business. For an organization that seeks to occupy a moral high ground as a users’ shield against endemic cryptocurrency fraud, Zuckerberg’s brainchild has for too long had a record of power abuse, arbitrary implementation of its own policies, abridgement of speech, and flippant ignorance of whole shady industries flourishing on its platform. Everything about Facebook, from this ever-expanding list of controversies, to consistently inarticulate and reactive fashion of responding to them, to failure to recognize, let alone address, many societal issues that the company’s operations have engendered, suggest that Mr. Zuckerberg is in no position to dictate what is best for protecting users.

Facebook and social responsibility

Senator Hatch: How do you sustain a business model in which users don’t pay for your service?

Mr. Zuckerberg: Senator, we run ads. (Smirks)

Enumerating Facebook’s recent public blunders would be an utterly futile endeavor. The Cambridge Analytica story and the controversy around Russian trolls’ attempts to manipulate the US domestic political discussion became so high-profile than it is harder to be ignorant about them than otherwise. A point about Cambridge Analytica is that there has been a lot of confusion in media coverage of the matter. An insightful Medium post by Chris Kavanagh does a great job of dissecting the case. It suggests that in 2014, when the data on 87 mln users was made available to the voter-profiling firm, Facebook had a policy called “friends permission,” which allowed developers to legitimately access profiles of all their apps users’ friends. The only thing standing in between the swaths of user data and an army of brokers eager to put it to commercial use was the clause that prohibited developers from selling data to third parties. The enforcement of this policy, however, was lax, giving rise to a whole black market of user data.

This situation is quite indicative of the approach that Facebook adopted on many other instances: if it’s good for business but ethically dubious, let’s keep it in place until there is a really bad outcry over the dubious ethics or malicious outcomes. Recall the “fake news” hype of 2016: it took Donald Trump becoming president, as well as nationwide clamor over the alleged use of strategic misinformation helping him succeed in that, for Facebook to succumb into partnering with independent fact-checkers. It took a national controversy over suppression of conservative news in the “trending” section for Facebook to review the underlying algorithm. It took Cambridge Analytica to begin rethinking the relationships with data brokers and finally considering a possibility of providing outside academics some limited access to a share of the company’s data – researchers have been previously trying to gain some access to Facebook’s black box for years. In each case, these concessions look more like ad hoc public relations moves designed to appease the critics rather than the result of the company’s own drive towards a more responsible conduct.

In responding to mounting pressures from the public and to its own shifting economic priorities, the company often fails to show much concern about the way publishers are heavily reliant on Facebook-referred traffic. Tweaks to the news feed algorithm are at times as drastic as they are frequent. The latest turn towards showing more user-generated content is just another dot on this trend line that has now stretched for years. The platform authoritatively establishes new rules that affect the whole ecosystem, but could then roll them back. Publishers who run services on the Facebook platform that come to compete with some of Facebook’s own features might find themselves in trouble: for instance, soon after the platform launched their video service, it turned out that external videos get differential treatment on the website.

Meanwhile, structural problems that have not yet gained some shocking manifestation or a pointed enough criticism coming from agents of power remain generally below the radar. Despite the years of journalists and academics pointing out the dreadful impacts of the Facebook-led, ad-driven “attention economy” on the overall quality of news, as well as sustainability of local and investigative journalism, we are yet to see any policies addressing those issues beyond vague declarations. On another money-driven note, an enormous affiliate industry, a home for scams whose scale and insidiousness far surpasses what most cryptocurrency hoaxes have to offer, thrives under Facebook’s auspices.

In a more ostensibly political realm, in the process of what many on the right consider censorship, First Amendment-protected expression routinely gets taken down from the platform. But since it comes from the right and usually concerns speech that a middle-of-the-road user would likely consider offensive, no compelling pushback against such speech limitations is ever mounted. However, as we move away from the American shores, Facebook’s principled commitment to liberal values seems to be fading: there is little inclination on behalf of the company to somehow deal with strongmen like the Philippines’ Rodrigo Duterte weaponizing the platform against domestic opposition.

The politics of Facebook

Senator Graham: You don’t think you have a monopoly?

Mr. Zuckerberg: It certainly doesn’t feel like that to me.

Mark Zuckerberg loves to wield the word “community” when talking about his company and its societal role. He used the word again when prompted to explain what Facebook in front of the Senate committee earlier this week. He elaborated on Facebook’s mission to build a “global community” in his lengthy February 2017 essay. His ambitious and somewhat starry-eyed vision, as some observers pointed out, was full of the notions of the potential for positive change yet strikingly devoid of notions of responsibility that comes with such a potential. Zuckerberg has been sticking to his favorite mantra of “we are just a platform and as such have nothing to do with content” for years, and it was not until the recent congressional hearings that he stumblingly admitted that some of responsibility lies with Facebook.

“Community” is a warm word that suggests inclusiveness and highlights horizontal bonds between people. But what kind of a community does Facebook really have, and how is this community governed? Some political scientists are not shy to use a metaphor of an autocratic sovereign state, with King Mark I at its helm. Indeed, Zuckerberg acts as both CEO and controlling shareholder of the company. Having experimented with embedding some democratic forms of corporate governance on the platform, Zuckerberg had abandoned such efforts back in 2012. He also made it clear repeatedly that he is not stepping down anytime soon. The larger the platform grows, the more rigid the structure of governance naturally becomes, while increased institutional inertia renders changes harder to implement. At this point, even if Zuckerberg suddenly embraces a brand new socially responsible agenda, there is no guarantee it would materialize in a few clicks. Still, when coming into Congress’ chambers, Zuckerberg was prepared to oppose any suggestions of the company’s breakup. His leaked notes even specified a patriotic objection to this idea, should it be voiced: such a breakup would strengthen Chinese competitors.

As any sovereign entity, Facebook is also firmly embedded into the political landscape. The fact that the company makes campaign contributions is unsurprising – in fact, those are fairly modest proportionally to the revenues that it commands. What is more interesting is that, according to academic research, Facebook (along with other tech firms) proactively maintains connections with political campaigns on both sides of the ideological spectrum, providing Republican and Democratic candidates alike with cutting-edge tools and expertise to help them make the best out of the platform’s political capacity.

This institutional embeddedness could be one of the reasons why Mark Zuckerberg emerged relatively unscathed from long hours of testifying before both houses of Congress this week. What some expected to become a public scolding has been essentially reduced to an introductory class on social media for the Senators on the Judiciary and Commerce Committees, and a somewhat more heated but still perfectly manageable exchange with House members. Along with producing a constellation of hilarious memes, the hearings posed a troubling question: if the US Congress is unable to corner Facebook’s CEO over what they see as a serious national security concern, then who can? Clearly, the people who are currently in charge of the country are out of step with the brave new world of Facebook politics. So far, the man who is in control of the world’s most influential communication infrastructure has not expressed an inclination to take advantage of their inability to check his influence. Yet, Zuckerberg’s term is unlimited, and the views of lifelong rulers are oftentimes prone to drastic change.

For those disillusioned with the current social media ecosystem and its leadership’s inability to address what is wrong with it, the Blockchain industry has a lot to offer. Steemit, even though not without its own drawbacks, has shown feasibility of the decentralized content production model. New journalistic enterprises such as Civil, DNN, and MediaSifter are putting up architectures that aim at fixing the broken news by using brand new incentive systems and collaborative fact-checking. As the dominant social media economy is undergoing a major crisis of trust, the Blockchain community should be out there, drawing in those who are looking around for an alternative.

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IOTA (MIOTA) Price Leading Return to Positive As Trinity Wallet Gets Closer

Since the game-changing spike that took place on Thursday, March 12 2018, traders have been squeezing the opportunity to step-in on the lows as values this declined tomorrow could be just history when more bulls get their saying. One of the coins which is doing very well is IOTA with 41.60% gain in the last 7 days.

Cryptocurrency

Source: coinmarketcap

Per time of writing, as long as the pair MIOTA/USD stays above the daily declining trend line and the $1.35 mark, there will be opened gates for a continuation of the bull run.

Recent IOTA news has seen Fujitsu executive Rolf Werner join the IOTA foundation, which contributed to positive investor sentiment, but the most interesting announcement to come from the IOTA development team recently is the announcement of the upcoming Trinity desktop wallet launch.

Werner before joining IOTA foundation was part of Fujitsu’s business development in Switzerland, Germany, and Austria. He is today the in the chairman, Fujitsu Technology Solutions GmBH Board where he’s depended solely on. He is seen as the go-to business developer.

Joining IOTA means a substantial development for the blockchain company owing to his wealth of knowledge and experience in business development.

A March update outlined the current developmental state of IOTA’s highly anticipated Trinity wallet app, which is now in a security audit stage.

IOTA developer Navin Ramachandran stated in the update that, while the app project has been hindered by a lack of standardization within coding guidelines exacerbated by a failure to communicate accurate timelines with the IOTA community, the Trinity wallet app is already in an alpha stage of testing.

The planning, development and work put on the user-friendly wallet app Trinity has been going on for many months now and it is set to come to a conclusion in about 6-7 weeks.

“When this audit is complete we can move to a public beta test where everyone can try out the mobile wallet via the official app stores, without any special invitation. At this time, we will also release the full audit report and the complete source code for public review.” – ramachandran

The progression of the Trinity desktop version will be sped up as the IOTA team has taken a very cross-platform approach in the full development of the app.

The release of both a desktop and mobile IOTA-specific wallet app is set to significantly improve investor sentiment toward the slow-moving IOTA project.

Trinity does deliver multiple sees and a ‘statefulness’ feature that writes down all transactions and balances with the target to fly past the issues presented by IOTA’s snapshot function – additionally to all the standard wallet features.

For more info about IOTA and its network read:

IOTA (MIOTA) Under Best Choices To Go For After The Violent Selling-Period

The post IOTA (MIOTA) Price Leading Return to Positive As Trinity Wallet Gets Closer appeared first on Ethereum World News.

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A New Coin Aims to Be the Currency of the Future Gaming Industry: Here’s How They’re Doing It

The Tap Project seems to be going from success to success in recent months, after their ICO and wallet release going off without a hitch, they are now ramping up their functionality with a view to an up-and-running ecosystem by the end of 2018.

Tap is an innovative undertaking that is targeting millions of dollars worth of value that is locked away in gaming platforms and inaccessible to players; a gamer might spend hours and hours in one game amassing rewards and points which are then useless once he stops playing that game. However, other players could make use of these points since they are transferable in-game, but currently, there is no way to transfer value from one game to another short of an extremely convoluted fiat exchange agreement.

Tap Tokens are intended to solve this problem, and the creators have been ramping up their roadmap rollout in recent weeks.

The platform: Tokens for easy exchange

Tap Tokens were first made available during the ICO and have been designed using the Ethereum protocol to provide full functionality and fungibility across domains. Designing a token to act as a medium of exchange across many gaming platforms is no easy task, but the Tap team have made sufficient progress toward the release of an MVP with high functionality in the coming months.

“Q2 will see the release of our MVP, Unity and Unreal Plugins, POS Drip Bonus, Platform API, Smart contract Core, and Exclusive Platform Game release, and of course high-level backend fixes and developments.”

March 25th: Wallet Announcement
April 2nd: Logo and Website Reveal
April 7th: Verification and POS Drip initiation
April 28th: Tap Relay Contract
May 12th: Tap Vault
June 9th: Avatar Contract & Platform Testing
June 30th: MVP Launch (including Unity and Unreal Plugins)”

This also comes as the team releases a new website and design in order to make their offering more user-friendly. They also took the important step of getting a patent for the design of the platform:


“Filing for a patent allows The Tap Project the ability to fully expose and release their system, method and conversion mechanism publicly in a way that allows everyone to fully understand how the utility token and the project work. This defines the transactions between gaming platforms, user devices/wallets, distributed ledgers, and the Tap Platform and SDK.”

The Value Proposition: Making gaming more liquid

Not only are the Tap team making gaming more rewarding, they are also making it more financially rewarding. Users will be able to cash out Tap Coins to fiat to offset some of the cost of their hobby. This also reduces the risk of buying new games, since any accrued points earned in games that are not enjoyable can be used to offset the price of the game itself.

The post A New Coin Aims to Be the Currency of the Future Gaming Industry: Here’s How They’re Doing It appeared first on NewsBTC.

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Bitcoin Mining Pressures Hardware Prices

Demand for computer components has skyrocketed with the surge of cryptocurrency mining, with prices more than doubling the past 12 months in some cases as suppliers are struggling to build enough capacity to meet the needs of the emerging market.

Prices of PC Components Skyrocket Due to Bitcoin Mining

The cryptocurrency mining boom is taking the blame for the inflationary prices in the PC hardware industry. The exponential demand for processing power and memory needed to mine crypto hashes for cryptocurrency is not being followed by similar growth in industrial capacity to supply those items. As miners buy video cards and sticks of RAM in bulk to set up their mining rigs, retailers have a hard time getting them from suppliers such as Samsung, AMD, and NVIDIA.

Miners are demanding more powerful rigs that can include up to 500 graphics cards each which has created a worldwide shortage of the cards allowing manufacturers and retailers to gauge buyers on the price. Checking the price of the 5 most popular graphics cards from last year and comparing it with the updated version shows a general price increase of between 70 and 100%Nvidia’s GeForce GTX 1070 should cost around $380, but some cards are now being sold for more than $700 due to the massive shortages in the consumer GPU market. 

This new demand for mining rigs has revitalized these electronic markets that were dying only a few years ago when shoppers turned online for computers, cameras, and gadgets of all kinds. To meet the newfound demand, AMD and Samsung have developed mining boards that use ASICs (Application Specific Integrated Circuit) to run advances hashing algorithms, but these items are yet to become competitive in price and quality. For now, it’s more profitable to buy graphics cards in bulk.

ASIC based miners have custom components built only for the purpose of Bitcoin mining. These devices have enormous processing power, generating a huge hash rate for effective mining. However, not everyone can set up a server and install ASICs. Individuals who use GPUs currently available in the market are able to mine cryptocurrency but they can’t expect to make many profits.

Image Courtesy of Shutterstock

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Nobel Winning Economist Shiller Says Bitcoin ‘Bubble’ May Be Around For A While

Robert Shiller, Nobel Prize winning economist, is relatively positive about Bitcoin’s future, even as a “bubble.”

Nobel Prize laureate for economics Robert Shiller believes that while Bitcoin (BTC) might be a bubble, that doesn’t mean that it will burst and be gone forever, according to an interview on April 13 with CNBC’s Trading Nation.

Shiller, who is currently a professor of economics at Yale University, referred to BTC as “another example of faddish human behavior. It’s glamorous”:

“I’m interested in [B]itcoin as a sort of bubble. It doesn’t mean that it will disappear, that it’ll burst forever. It may be with us for a while.”

Shiller highlights that he knows that “smart people” have invested in cryptocurrencies, including many of his students, but adds that the attraction to crypto is “a story that I think goes way beyond the merit of the idea. It is more psychological than something that could be explained by the computer science department.”

According to Shiller, there is a “part” of the cryptocurrency “fad” or “bubble” that is political, as people that don’t trust their governments may be tempted to invest.

In September of last year, Shiller went on CNBC’s Fast Money with Brian Kelly to speak along the same lines about crypto, saying that “it’s the quality of the story that’s attracting all this interest.”

On Friday, April 13 Brian Kelly said in an interview that he supports investor Tim Draper’s prediction that Bitcoin’s price could hit $250,000 by 2022.

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With ‘Project Genesis’, TRON (TRX) Is Preparing For War

The cryptocurrency that strives to connect the world with “free content entertainment system”  using blockchain technology has once done it again, creating disruption in the financial market with a recent announcement made on its website and Twitter page that, it has launched Project Genesis [TRON PG] with the aim of expressing gratitude  to developers.

“To express our gratitude for the trust and support of TRON’s global developer community while enriching and expanding TRON’s ecosystem, we are launching Project Genesis: a reward pool totaling $2 billion USD and a variety of programs—all for the TRON community and developers!”

Source: Twitter

Confirming the Project Genesis launch, Justin Sun‏, the owner of Tron in a tweet stated:

“During our testnet launch, I announced that 1 Billion USD will be dedicated to the #TRON community rewards program. Now that number is 2 Billion! Welcome to Project Genesis. #TronPG $TRX #TRX

The development, according to analysts is a great one for the altcoin as it continues countdown for Tron Main Net which would be launched on May 31. According to a post which Tron Lab released on its Medium page tagged “TronPG, $2 Billion, Only for Your Brilliance”, it’s slated the Project Genesis schedules between March 2018 (GITHUB plan) to September 2018(DEV CO):

The Project Genesis Schedule

In Progress:
• Mar 2018:GITHUB PLAN

Coming Soon:
• Apr 2018:BUG-BOUNTY
• Apr 2018:TRON LOAN
• Apr 2018 — Jun 2018:PROGRAMMING CONTEST

TBA:
• May 2018:MEET UP
• Sept 2018:HACKATHON
• Sept 2018:DEV CON
• TBA:BLOCKCHAIN INVESTMENT FUND

Recently, Tron developers announced the altcoin’s first technical debut, TRON Test Net launch, and within 7 days of the launch, the altcoin had amplified its tentacles to 31 countries with 2500 nodes.

Tron In The Present Market.

Over the past few weeks, the crypto market has been bearish, with massive and unexpected fall. Few days back, the market turned around moving northward with the hope that altcoins will regain their value. Towards the end of yesterday, the market began to plunge and altcoins’ value dripped.

Tron, at present ranked 13, with a market capital of over 2.5 billion according to Coinranking, is priced 0.04 against dollar.

In the last 24hrs, the altcoin had lost 1.63% from its value, while over a period of 7 days, it had gained 7.48%, showing that the drip is a rise when compared to the price fall over few weeks.

The post With ‘Project Genesis’, TRON (TRX) Is Preparing For War appeared first on Ethereum World News.

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Ethereum Price tag Blazes Previous $five hundred as Bullish Momentum Stays Intact – The Merkle

Ethereum blog site

A good deal of attention-grabbing matters are taking place in the environment of cryptocurrency suitable now. With all markets turning bullish as soon as once again, we may possibly last but not least get the price tag bounce we have all been waiting around for. If the Ethereum price tag is any indication, this will be a extremely optimistic weekend over-all. Even so, the Ethereum price tag may possibly not remain above $five hundred for that long, as financial gain-having will kick in reasonably soon.

Ethereum Price tag Bullrun is fun to Check out

To put the calendar year 2018 into standpoint for the Ethereum price tag, it has come to be obvious there was a good deal of bearish momentum to contend with. Whether or not tax season played a important purpose in this distinct downtrend, will usually remain up for discussion. Even so, it is obvious the sentiment is turning bullish for no evident reason, just like it grew to become unbelievably bearish these past several months for no evident reason.

To be far more certain, we have noticed the Ethereum price tag dip under $400 all through 2018. That in by itself is pretty problematic, for noticeable factors, as the Ethereum price tag utilised to hover close to $one,three hundred in late 2017.  Returning to that benefit will not be uncomplicated by any implies, but the present craze looks alternatively optimistic in standard. It may possibly only be a non permanent uptrend, but we have to savor the instant regardless.

With a 22.24% get in the past 24 several hours, the Ethereum price tag has successfully reclaimed the $450, $475, and $five hundred price tag amounts in fast succession. One can only hope this turns into a new Ethereum price tag support degree, alternatively than keep on to shoot for the stars and retrace in a violent way more than the up coming several times and months. It is also attention-grabbing how Ethereum acquired three.forty two% more than Bitcoin, which is pretty amazing at this phase.

With $2.843bn in 24-hour trading quantity, the demand to get and offer Ethereum is not slowing down by any implies. For now, it looks the buyers are in complete handle of the Ether market place, even though one particular has to retain in head matters can turn around pretty quickly in the environment of cryptocurrency. This is also portion of what can make this business so interesting to speculators.

Searching at the individual exchanges by trading quantity, it looks Bitfinex is still on top of the business as of suitable now. Its direct more than OKEx is pretty sizeable, with GDAX trying to vie for the 2nd spot as very well. We do see two fiat forex pairs in the top 3, as very well as one particular USDT pair. Clean funds is coming again to the cryptocurrency business, which can only be regarded to be a very good thing.

For the time remaining, one particular has to consider the present Ethereum price tag craze in stride. While this momentum will get a good deal of people excited about the upcoming benefit of Ether, there is still a extremely long way to go until finally the total business finds some stable ground. How matters will engage in out, continues to be to be noticed, as there will be a small correction adhering to such big gains as very well. An attention-grabbing weekend lies in advance, that much most people will readily agree on.

Ethereum News

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Tim Draper: “Everybody Wants to Leave California”

Tim Draper on Blockchain adoption, regulations in US and China, and why he wants to leave California.

Cointelegraph had a chance to talk to Tim Draper, American venture capital investor and businessman, founder of Draper University for entrepreneurs as well as Draper Associates, a VC firm that invested in Tesla, Skype, Baidu, and many other companies.

Tim Draper has been involved in different crypto projects, from the purchase of seized Bitcoins from the Silk Road marketplace website in 2014 to advocating Tezos in 2017.

He shared his thoughts with Cointelegraph on Blockchain adoption, regulations in the US and China, and why he wants to leave California.

Who needs Blockchain integration the most?

Government needs it the most. No question. Worst service, biggest industry, highest cost. Government is clearly people. The size of an industry tends to be the number of people involved. Government is affecting the most people and it is providing the worst service at the highest cost. And the Blockchain can remedy that by creating a whole virtual layer of governance.

That could be the beginning of where governments have to compete for us so that their services increase, improve and the costs go down. Your taxes will go down, and your education, and your health care and whatever – it will go up, it will be better.

But other industries that are going to benefit, anything that’s tied to data or the individual, so identity will be very important because anybody who’s affected by data is going to have a much improved situation because that data will be on the Blockchain, permanently there, tied to each individual. And once that’s the case that can help with all sorts of other industries: whether it’s healthcare, or commerce, or improve retail experience – it could be any number of different things that could be helped just because they will have better data on you.

How to push adoption further?

We, who are in the industry, are pushing as hard and fast as we possibly can. And it’s just that there are all these uncertainties, created by the governments that are run by the grandparents of the people who are creating this new industry. And they don’t get it. It is very frustrating for the people who are creating the industry.

So you have these regulators who are 70-80 years old and they are the ones telling these twenty-year olds what they should be doing. But they’re the same people who have given them huge education debt, poor education, not appropriate for their work life. And now they’re trying to tell them not to do something. That is actually creating a whole new economy.

I mean if I’m a millennial, I’m deeply in debt, I have an education that’s not appropriate to the jobs that I have to go find – I’m kind of lost. But there’s this big opportunity all of a sudden. There’s Bitcoin, there’s crypto, there’s a whole new world out there. That hasn’t been destroyed by the regulators. Now the regulators are coming in, they’re making it very difficult on people.

But any country that gets highly regulated gets poorer, more poverty. And any country that’s free – gets richer. And I think the US is trying to figure this out.

How do different countries handle crypto regulations?

I know Japan has figured out. Make it free – make us rich. Japan thinks I have to control and regulate. I mean, China says I’ve got to control and regulate and they’re going to create a bunch of poverty. And it usually takes twenty years by that time they have moved on. But they are ruining the lives of many people by putting in too many controls, or too many restrictions, or too many regulations.

So when you see the FDA or the SEC or FASB – any of these big institutional regulators come in heavy-handed. They are destroying the potential for growth and wealth in their country.

You ask the question about what is keeping this from happening. It’s the uncertainty created

by all of these regulators. That is slowing down progress; it is not allowing enough of creativity to flourish. And they’re in competition with all the other countries and regulators of the world. And so the lighter touch – the more likely you and I are to move to those countries, or to work with those countries, or to be a part of those countries.

On ICO regulation in the US

My advice to the SEC is go ahead – regulate them all. But make it a one-page document that anyone can fill out. Don’t make it so that these two girls and a dog have to go hire a million dollars worth of legal  work to just get approved. It makes no sense. Just have them go ahead and register, so you have the data that you need. But then let them go and then if they start affecting too many people they become a problem then go ahead and come in and say: “Okay, now you have to go our next level of regulation” or something else.

But ease in. Let’s let these things flourish. Who knows, what creativity is going to come out of these ICOs.

When the Internet came along the governments were trying to shut it down. And all of a sudden think of what’s happened with the Internet: all our lives are so much fuller and more interesting, and more dynamic. And I remember I’d spend hours waiting for somebody to come pick me up when my car broke down. Now if your car breaks down – you leave it on the side of the road. You go boom, I got an Uber – it all happens so quickly, that never would have happened if the Internet hadn’t happened. So this is and if we hadn’t let the Internet go, let it be free, the freer – the richer. Freedom equals prosperity, regulation equals poverty.

On businesses moving away from the US

Everybody wants to leave California. Anybody in business wants to leave California. Because even though the weather’s awesome and their friends are probably here – all of the incentives are to leave.

That’s why I want to flee California. I want a fresh start. And also to leave the US but that’s different set of incentives.

The taxes are higher here, the services are worse, educations worse, the roads are poor. You go to Texas – they have no personal income tax, they have great roads, they have a free government encouraging innovation. You need that.

New York, they have the problem that California does. They are over regulated, they’re on top of each other, they don’t let anybody do anything without filling out forms to do it.

But it’s a good thing about the States because they have to now compete for us, used to be pretty much all the states were competing and felt that way and they worked hard to provide good service to you. When was the last time, a bureaucrat said to you “What can I do to make your life better? How can I improve your business environment? How can I improve?”

They used to do that 25 years ago, I walked into a government office with my father and they said, “How do I improve your business environment? How do I make your home life better? How can I improve your child’s education?” That was the attitude that government had and that’s why my father has such great feelings about the government. And why and the reason I don’t  – is because I saw that switch. Like all of a sudden it went from ‘what can I do’ for you to ‘what are you going to do for me’.

It was about 20 years ago. 20 years ago all of a sudden it was like – “Have you filled out form 12 CB? I’m sorry, oh, and I think you have to talk to this regulator too. Because I don’t think we’re going to allow you to have a party there!”

On Chinese policy of  “yes” Blockchain, “no” crypto

China’s old government under Wen Jiabao was free. They said: a few of you will get rich first – let’s create a harmonious environment, let’s grow, let’s have free markets. That was awesome and it created 40 years of prosperity. And China is like one of the most advanced countries in the world now.

Well now they have the opposite. They have a control freak government, or at least the guy at the top and that permeates the government. They’re not letting money out, they’re not letting people use crypto, they’re not letting people use Bitcoin to pay.

And what that does is – it pushes out all the best entrepreneurs, pushes them to wherever. And it creates more poverty there because all of those people then are constrained. If you’re constrained – you’re poorer. If they say you can’t move – you’re going to starve. And that’s pretty much what too much regulation will do for you. And so that’s China.

Well, it makes no sense. I mean if you’re going to run something on the Blockchain, you’re going to need Bitcoin to do it. If you’re going to do something in Bitcoin – it’s using the Blockchain. These are intertwined.

Now, there are some other Blockchains being created, which is great. Competitive Blockchains. I’m a believer. And, you know, having competition because I as a consumer end up with the better service. But somehow trying to separate those and say oh we’re gonna allow all the technology in, we’re just not going to let you use it. What are they thinking? They’re basically saying: yeah, go keep creating stuff – we’re not going to let you use it and we’re not going to let you have money leave our country.

So where’s the benefit for an entrepreneur there? That’s why they’re all buying houses in Palo Alto. All the Chinese are saying: well, let’s get out of there. Or they’re moving to Japan where they’re welcome. All the young people are moving to Japan. They’re saying: “Well, wow, this government accepts Bitcoin as a national currency! I want to be a part of that!”

On projects in Kazakhstan

I talked to the Prime Minister of Kazakhstan. And I told him about Estonia and all of these interesting virtual governance thing that can happen. And I said that Kazakh means free. It should be free country. You want this to be free because you’ll end up with a wealthier, more prosperous country.

And, why not have a certain number of Kazakhs, but then a billion virtual Kazakhs. And have them all be a part of your world and compete with all those virtual countries for them.

And he was all for it. So I thought that was going to happen. Now, some lower down regulator has now tried to heavily regulate crypto and that it’s a proposal. It’s not law. And hopefully he’ll just be slapped down and, you know, sent on his merry way. He’s like the old world regulator, who doesn’t get that you’ve got to have a very light touch when you’re regulating an ICO.

It should not be the equivalent of an IPO. An IPO affects hundreds of thousands of people. The companies are worth tens of billions of dollars. An ICO is usually, you know, two girls and a dog.

It’s not like we have to protect everybody from themselves. It’s just people getting going.

On Edward Snowden criticizing Bitcoin’s Blockchain for being “devastating republic”

Who is listening to him? This guy just opened up! He opened up all that information, he made it dangerous. So, wait, this is totally counter what I thought would be his philosophy, which is: we’re open, transparent, this is the way the world should be, it’s open, and transparent, and decentralized, and whatever… Bitcoins perfect for that. So he’s, I don’t know, why you even listening to that guy?

Do we listen to the guy who runs the biggest bank in the world? When he says, we shouldn’t use Bitcoin – well why listen to that? Because the guy is realizing that people are taking pieces 1 percent, 2 percent, 5 percent of their money out of his bank and putting it into crypto. So he’s totally disinterested, and he is very nervous that he’s going to lose all those customers. And he will. Over time he will.

It just feels like crypto generally will replace all fiat. Because it’s just better currency and all the best engineers in the world are working on that. They’re not working on how to improve services for the dollar.

Crypto vs fiat

It is a hundred trillion dollar market. So that means, that we have a long way to go in a crypto market. We’re now in the hundreds of billions, it’s like it’s got a thousand times on what it is now to go.

Bitcoin vs other cryptocurrencies

I like competition. I think it’s great. I think Bitcoin is clearly the leader. And it will be the standard by which all the other currencies will have to compete. It’ll be the equivalent of Microsoft. But it could end up being Yahoo for search, you know, where Google came in and got a bigger share. So things can happen! But, when you have that front position and whenever there’s a new technology you add it to that currency.

It’s very likely that Bitcoin will be the largest and biggest currency because they have a network effect. It grows as the network grows.

On universal cryptocurrency and price volatility

I like the idea that they’ll all have to compete with each other. And I like the idea that they’ll all be tradable into each other. And, you know, and now they’re tradable into fiat too. But I think that’ll be less important over time, I think more important – more companies like you can get a Kentucky Fried Bitcoin bucket, which is only available to be paid for in Bitcoin in Canada. And then there are all these houses and yachts and whatever – that are all only available in Bitcoin,you can’t pay dollars for them. I think more and more that’ll happen. And we’ll be in a position where people laugh at you if you try to pay fiat currency for your coffee.

Whenever I hear this volatility question, I think, one Bitcoin is still just worth one Bitcoin. It is very stable. All these other currencies, these fiat currencies, there are volatile against it. Falling away. Over time.

And so, when they say volatility, I think they are panicking: they go up, they go down. One Bitcoin is still one Bitcoin and it will continue to be. And so I think, I am not really thinking that it is volatilizing, I am thinking that it is Bitcoin and it should be spent, as you need to spend it.

This interview was conducted at the Global Blockchain Forum, in Santa Clara, US, in collaboration with Cointelegraph news editor, Olivia Capozzalo.

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