Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, NEM, Cardano: Price Analysis, Jan. 29

See if you should go long or short.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Historically, January has always been a weak month for Bitcoin and 2018 is no exception. Some believe that this is due to Chinese investors converting their Bitcoins to fiat currency in order to buy gifts and presents to celebrate the Chinese Lunar New Year, which falls in February. After all, the Chinese market is one of the major players in the crypto world.

However, the same behaviour does not hold true for stocks, because the Hong Kong and Chinese markets have been among the top performers. The equity markets are outperforming the crypto markets, at least in the first month of the year.

With only a couple of days more left in January, it remains to be seen if the fortunes of the large cryptocurrencies take a turn in February.

BTC/USD

Bitcoin turned down from the 20-day EMA on Jan. 28. We had suggested a long position on a close above $12,200, which did not trigger.

BTC/USDIn the very short-term, we find another descending triangle pattern as shown in the chart. The pattern will complete on a breakdown and close below $9920 levels.

Below this level, we are likely to see further selling pressure by the bears and some long liquidation from the aggressive bulls who have accumulated close to the $10,000 to $12,000 levels expecting a spike up.

Panic selling can drag the BTC/USD pair to $8,000 and potentially even further down to $6,000 levels. These lower levels look scary, but please note, we are not trying to instill fear among traders. We are just giving the possible lower levels developing according to the chart patterns.

It is important to keep in mind that if Bitcoin breaks out of the $12,000 levels, it will invalidate a bearish pattern; and that is a bullish sign.

Therefore, our recommendation is a likely long position at $12250, with a stop loss of $9,900 and a target objective of $14,000. Within the range of $9,900 and $12,200, we don’t find any buy setups.

ETH/USD

We are holding long positions in Ethereum from $1,000 levels. We had recommended booking partial profits at $1170 levels, in our previous analysis.     

ETH/USDYesterday, January 28, the Ethereum rallied to an intraday high of $1,265, which is close to 78.6 percent retracement levels of the recent fall from $1,424.3 to $770.

Traders can keep a stop loss of $1,000 on the remaining position because if the ETH/USD pair stays above $1,160, it is likely to again attempt a breakout above $1,284.28 levels.

If the $1,000 level breaks, Ethereum is likely to slide to the trendline.

BCH/USD

Yesterday, January 28, Bitcoin Cash broke out of the small overhead resistance at $1,700, but could not continue to build on the gain.

BCH/USDThe cryptocurrency has again turned back down and has fallen below $1,700 levels. On any upwards movement, the bulls are likely to face strong resistance at the 20-day EMA, which is roughly at the same level as the down trendline. Above this, the next level of resistance is at $2,072.6853.

The BCH/USD pair will become positive in the short-term only after it sustains above $2,072.6853. Until then, all pullbacks are likely to be sold.

On the downside, a fall below $1,364.9657 will plunge the price to $1,141 levels. We don’t find any buy setups, so we do not recommend any long positions.

XRP/USD

Currently, Ripple is trading in the center of the range. It is likely to fall to the lower end of the range if it breaks down of the immediate support at $1.09.

XPR/USDWe expect the XRP/USD pair to remain in the large range of $0.87 to $1.74 for the next few days. We are likely to wait for a dip in support levels or the range breakout to initiate fresh long positions.      

XLM/USD

With general sentiment across the crypto community remaining weak, Stellar has turned down from the overhead resistance. It is now likely to fall to the trendline support, as we have forecasted in our previous analysis.

XLM/USDThe 20-day EMA and the trendline support are close – that is why we expect the $0.55 levels to hold. We can initiate long positions once the XLM/USD pair breaks out of the $0.671 mark. We foresee a retest of the highs, with small resistance at $0.732 levels.

But if the trendline support breaks, a fall to the 50-day SMA is likely. We shall buy only on a strong rebound off the trendline.

LTC/USD

Yesterday, Jan. 28, the attempt by the bulls to carry Litecoin higher faced resistance at the 20-day EMA. Now, we anticipate another round of selling by the bears to breakdown below the critical support of $175.

LTC/USDIf the bears succeed in sustaining below $175, a fall to $140.001 and thereafter to $85 is likely.

Our bearish view will be invalidated if the LTC/USD pair breaks out of the down trendline of the descending triangle.

XEM/USD

We had forecast that NEM will face resistance at the $1 levels from both the moving averages and that is what happened.

XEM/USDIf the bears fail to sink the cryptocurrency back below the down trendline, we anticipate a range bound trading between $0.8 on the lower end and $1.2 on the upper end.

The XEM/USD pair will become positive in the short-term on a breakout and close above $1.21. Currently, we are unable to find any reliable buy setups on it, so we do not have any recommendations for trading.

ADA/BTC

Cardano is currently trading inside a tight range of 0.00005 and 0.00006. If support of this range breaks, a fall to 0.00004730 and after that to the lower end of the larger range at 0.00004070 is likely.

ADA/BTCHowever, if the bulls defend the 0.00005 levels again, the range bound trading action will continue for a few more days.

Within this tight range, we are unable to find any bullish pattern, so we do not advise any trading on the ADA/BTC pair.

The market data is provided by the HitBTC exchange; the charts for the analysis are provided by TradingView.

“We Need Microsurgery on This New Economy”, Don Tapscott

Cointelegraph interviewed one of the world’s leading consultants on social and economic impact of technologies, co-founder at the Blockchain Research Institute, Canadian business executive Don Tapscott – about the World Economic Forum, Blockchain, regulations, and digital economy.

Cointelegraph had the opportunity to meet Don Tapscott, one of the world’s leading experts on the economic and social impact of technologies and innovations, at the World Economic Forum in Davos.

Don has been an advocate of Blockchain and the digital economy for many years. This year at the World Economic Forum is the first year he was not in the minority. Blockchain was talked about more than every other topic (with the exception of Donald Trump attending the Forum at Davos) this year. Don Tapscott sat down with Cointelegraph to talk about the evolution of the digital economy and the impact blockchain has had and will continue to have on our lives.

Cointelegraph (CT): I’m here with Don Tapscott, CEO of Tapscott Group, co-founder at the Blockchain Research Institute and one of the most influential voices of blockchain and the digital economy. Thank you for being with us today.

Don Tapscott: Happy to be here.

CT: You are a senior advisor for the World Economic Forum. What are your thoughts on how big a role Blockchain and the digital economy are playing in Davos this year?

DON: It’s interesting. First of all, I don’t speak for the forum, I speak for myself, but I was interviewed recently by the Wall Street Journal television here and the guy said to me, “You know, this is the third year that we’ve interviewed you about Blockchain and this year everybody’s talking about it in Davos. Describe how it’s changed over the three years.”

I thought about it for a second and replied, “Three years ago the main person I was talking about was me and I was certainly talking about myself, maybe a few other people. Last year we had big financial institutions that we talked about and also some entrepreneurs around the congress, central bankers, ministers of finance. I spent some time with them. This year this is the Blockchain Davos.”

Blockchain – number two word at Davos

Apparently Blockchain on the formal program as a word appears more than the United States and Europe combined. Someone did an analysis of the language used at the World Economic Forum and they found that “Blockchain” was the number two word at Davos, number one being “Trump”. Anyway, be it as it may, it’s an extraordinary thing; it’s not just integrated into the formal program and not only powerful people are talking about it. I estimate that around 1000 entrepreneurs, investors, social activists, social entrepreneurs, academics and so on – have come to Davos and are not inside the Congress Center. They’re outside doing all kinds of things. So you’ve got the Global Business Blockchain Council holding whole days of programming, hosting a dinner with 200 people, with hundreds of people lined up hoping to get in. Then there was the Crypto HQ – I wondered what that was for days. I couldn’t get in there because there were lines up there all the time. Everywhere there were activities related to Blockchain. For example, i’m walking on the street, someone recognizes me and says “We’re having a big Blockchain meeting upstairs. Would you come and speak to us?” And I go upstairs and there’s a hundred people in the room and I do a panel discussion and answer a bunch of questions. So this is very reflective of what is happening more broadly in the world. Finally, this technology has not just come of age. It’s really becoming a part of the vernacular and everyone is trying to figure it out.

CT: Thank you. You are from Canada. How do you feel the Canadian government piloting Ethereum blockchain to create more transparency?

DON: Canada is a pretty interesting story. When you think about where this whole [Blockchain] thing is going to be centered in the world, there are a few candidates; Switzerland is obviously one. I don’t think it’s going to be Silicon Valley, basically because leaders of all paradigms have difficulty embracing the new. But Canada’s going to govern it. It’s pretty interesting – particularly including the fact that the Prime Minister was here. He was totally into Blockchain and all the things.

As a part of our Blockchain Research Institute we have organizations such as the Bank of Canada, the Federal Government, the Provincial Government and the City of Toronto, but there’s also 5, not 95, big banks who are working on reinventing the payment system. We also have Ethereum that was created by a university dropout from the University of Waterloo. We’ve got a thought leadership with our Research Institute. The two biggest incubators in North America are in Toronto. MaRS alone is 1.9 million square feet.

How to manage brain drain

We used to have a brain drain in Canada where entrepreneurs would leave the country and move to the U.S., but now thanks to two things that’s been reversed. One of them is Donald Trump. A lot of people, especially Canadians, want to move back to Canada, but the second one is: there is a funding problem when you would get to a certain point where your company would make maybe 20 million in revenue and you will need to do a series A and some big venture capitals in Silicon Valley would say, “Great. We will fund you, but you’ve got to move to the Valley.”

As a result of this there was a company drain as well. That’s been turned around now because of ICOs and the people who don’t have to go the venture route to fund the company. The other thing is that we have a pretty easy regulatory environment in Canada too. We surely have crazy stuff going on like in some countries in the world. I’m also very hopeful that the Bank of Canada is going to be a real leader in the space because ultimately every country needs to embrace Blockchain for the fiat currency.

So we need the digital dollar, digital pound, digital yen and so on. That would give central bankers powerful tools to manage the money supply, and change the inflation rate. You can see what’s happening instantly. You have a crisis, and rather than give the money to a bank, you could helicopter onto the mobile devices and save the poorest people. There’s a lot going on in Canada right now.

CT: Thank you. You already mentioned this, but maybe you can tell us more. Do you think other governments will be as open to these technologies as Canada?

DON: Well, all around the world it’s very uneven in terms of government understanding and comprehension of this whole secondary era of the Internet. Because that’s what we’re talking about here. We have had the internet of information for 40 years and now we’re getting the internet of value or anything that value can be moved, stored, transacted in a secure and private way. Trust is achieved by cryptography and collaboration and code rather than by intermediaries. That’s is a very, very powerful thing. It will be the center of any building and innovation economy, but governments…

Many don’t understand it, you know. I was recently in Korea. Here’s the country that created a miracle around the whole first era and they created these amazing manufacturing facilities – they call it the miracle on the Han. Now the Korean government is trying to figure what to do with them. They banned ICOs and now looking at restricting or even banning cryptocurrency exchanges. I was there meeting with the government leaders and doing a lot of press conferences and stuff saying, “This is going to hurt you. You don’t want to do that. There is a public interest here. It’s not like the internet of information where I would say, “Just leave it alone.”

But you know, if you’re doing an ICO and the token represents a share in the company that’s called a security, it should fall under securities legislation. But we need microsurgery on this new economy. We don’t need to bring a chainsaw to it. This would be one of the three most important rate determining factors in terms of what countries emerge not just with the Blockchain industry, but with the whole new innovation economy. Do governments do the right thing and implement sensible legislation or did they mess it up?

CT: Thank you. What are the ways you have seen blockchain and the digital economy mature throughout 2017?

DON: It was pretty an extraordinary year. Of course the biggest thing that’s caught everybody’s attention is the crypto craze, right? Just a word on that, you know, this is the tulip bubble, like in Holland. I don’t think those kinds of analogy is quite right, actually. Yes, there will be all kinds of volatility and there will be bubbles, but think about it: in the first era of the Internet, information was placed in the commons by Tim Berners-Lee; in the second era the actual protocols are going to be owned by investors and people.

Internet hype

So the first era was worth how much – tens of trillions of dollars? The second era is probably going to be bigger. An alternative way of looking at this is the biggest investment opportunity perhaps in human history. Now, are a lot of these ICO’s garbage? Yeah, well, but in 1995 a lot of those “dot coms” were garbage too. Are a lot of people going to lose money? You bet! Will there be all kinds of speculation? For sure. Is there hype? Yeah! There’s hype, there’s that much hype! But there was that much hype about the Internet in 1995 and we’ve talked more about the internet today than we did in 1995. So that hype it’s not going to go up and burst, it’s just going to continue (probably for decades) as we understand that this is the new operating platform for firms and for the economy at large.

But what we have here is a sort of crypto asset class tail wagging the Blockchain dog, you see. Because the real pony here is not all these asset stuff, although maybe a big opportunity. The pony in this pile is that we have a new platform emerging that’s going to change the deep architecture and structure of the firm. That’s going to fundamentally transform every industry in our economy and over the last year we’ve seen some really big developments. I could talk all day about this, but I’ll just give you one example.

Blockchain and supply chain

The supply chain industry globally is a $64 trillion industry and supply chains are going to move to Blockchain. You can see that with Foxconn doing this now, we’ve done a case on that. On the Walmart food sale they use Blockchain for food safety. The biggest supply chain in the world ever is the ‘One Belt One Road’ project linking Hong Kong and Rotterdam. All the trade and finance and a lot of the supply apps on that are being done via Blockchain.

Blockchain is perfect for situations where you have a buyer and a seller and escrow agent, and governments, and various shippers, and tax authorities and so on. Instead of passing pieces of paper and faxing, and emails and so on, they have a single shared network state where they can all instantly see what’s going on. It turns that supply chain into something we call an asset chain. And ultimately, this thing becomes cognitive. It really becomes a new cognitive computer. That’s where the supply chain will be.

CT: Thanks. In what ways do you think cryptocurrencies will impact the way we understand and use money?

DON: It’s a good question. I don’t think that non-fiat currencies will replace fiat currencies. Lots of people may disagree with me. I’d be surprised if Bitcoin got to more than 1% of transactions in a major country five years from now. There is a rule for these currencies, but more as a tool for creating new apps. For example, the global diaspora. People who left their lands and they send money back home. It’s called remittance. It’s a trillion dollar market. For example, If you’re a Filipino nanny in Toronto, you don’t have to pay Western Union 15% to send money to your mom in Manila. You can use a platform for remittance, but that platform actually uses Bitcoin as the underlying tool to enable that to occur. So that’s not the actual currency. The currency is a sort of a transition between the two fiat currencies. And as I said before, the biggest opportunity is to turn the fiat currency into a cryptocurrency.

CT: Like national or…?

DON: Yeah. I think that every country should have its cryptocurrency for the next period of human history. Ultimately, I’m like John Lennon who said “Imagine there’s no countries. It’s easy if you try.” You know, the whole idea with all these nation states is that they are an interesting idea that were developed in a certain period in the human history. We have these areas and there were a bunch of cities that consolidated together and they had a common currency and borders. They created institutions, the rule of law and bureaucracy and so on. So there were nation states for national economies, but increasingly the economy is becoming multinational.

You know, it’s not withstanding Donald Trump and “America first”. No country can succeed in a world that’s failing and increasingly we have regional economies like North America and Europe and increasingly they are going to need some kind of global economy. So it’s fun to speculate about stuff like that in the future, but I think it’s probably not in my lifetime.

CT: It’s very interesting! Could you tell us about what you personally will be focusing on in 2018?

DON: In the Blockchain Research Institute we’re doing 75 projects right now and these are all looking at the strategic implications of Blockchain to transform corporations in 10 different industries we’re looking at. We are also looking at seven functions of management. What is the triple-entry accounting for the CFO? What do smart contracts mean for the Chief Legal Officer? What does Blockchain mean for enterprise architectures? It’s a fine bunch of pilots, but, you know, the companies are not a bunch of divisions, it’s an enterprise ultimately and we do need enterprise architectures.

We have got a great group of about 60 of the world’s leading thinkers that are leading these projects. And over the next year we’re going to complete these projects and then our management team will be out in all these companies doing executive briefings. These typically consist of the CEO and the executive committee of some of the biggest companies in the world. I’m pretty excited that that’s going to bring about some big changes.

The other thing is, both my son Alex and I are spending a lot of time around the world speaking to big conferences and also to the small and more important events. In three weeks I’m speaking to… I don’t want to mention the name, but it’s 150 CEOs of 160 largest corporations in America. They’re very curious about this. Most of them haven’t quite figured it out, so we’re serving the business of bringing clarity to the market. We partner with Hyperledger enterprise, Ethereum, Chamber of Digital Commerce and other organizations. They are affiliates. We’re not duplicating what they are doing. We are trying to address these strategic issues. That’s going to keep me busy for the next year.

CT: Thank you so much!

DON: Thanks!

More interviews from the World Economic Forum will be available soon on Cointelegraph Web-site and Youtube channel.

Canadian Government More Concerned With Underground Economy, Not Tax

At the World Economic Forum in Davos, Canadian Finance Minister Bill Morneau said his country isn’t planning on making changes to existing tax code to deal with cryptocurrencies. Rather, the main focus will continue to be on “making sure that we understand what’s going on underneath that market, to make sure that we aren’t introducing any risks into our economy, whether they be risks like money laundering or terrorist financing.”

In Canada, cryptocurrencies can essentially be treated as money, a commodity, or even income. This makes things quite difficult. According to Laura Gheorghiu, partner at law firm Gowling WLG,  current regulations are “not enough and people are struggling to figure out how they should be reporting these transactions.”

Gheorghiu said clients are still uncertain about certain aspects of holding cryptocurrencies, such as capital gains on swaps of different currencies and on the valuation of new forks, which leave people with coins on different networks. Canada also has special rules for assets held abroad exceeding $80,000, triggering a separate reporting requirement that, in the case of cryptocurrencies, raises the question of where exactly they are held. According to Gheorghiu: “These are all sort of very high-level tax policy questions that don’t have answers.”

In Canada, decade-old tax rules with no specific provisions for cryptocurrencies are being applied to a fast-changing online technology that presents its own complications. The existing system generally considers Bitcoin a commodity, and profits can be either a capital gain (half of which is taxed) or fully taxable income, like a salary. Really, it depends on the facts and circumstances of a particular taxpayer.

The U.S. Internal Revenue Service treats Bitcoin as a property, and generally as a capital gain, but taxes it as income for Bitcoin miners. U.S. President Donald Trump’s tax bill also effectively closed a grey area by applying taxes when one cryptocurrency is swapped for another.

Despite the fact that some global policymakers are calling for swift global action on regulation — after Bitcoin’s meteoric 2017 rise, and subsequent slide this year — Morneau’s status-quo approach is one example of the challenges regulators face in responding to this new and growing technology.

The post Canadian Government More Concerned With Underground Economy, Not Tax appeared first on NewsBTC.

Matrix Reveals a Brand New PoW/PoS Consensus Algorithm

The hybrid algorithm designed to accelerate the transaction confirmation latency.

A Hong Kong-based Matrix AI Network is developing a prototype of a new hybrid PoS/PoW consensus algorithm. This update was shared with Cointelegraph by Owen Tao, the company’s CEO.

Tao described Matrix to Cointelegraph as:

“Designed to be the new generation blockchain, MATRIX leverages the latest AI techniques to revolutionize the landscape of cryptocurrency. MATRIX differentiates itself from previous blockchains by offering breakthrough technologies in building AI-enabled autonomous and self-optimizing blockchain networks, which feature multi-chain collaboration and decoupling of data and control blocks”.

This algorithm, according to Owen Tao, is a unique, one-of-a-kind development which is to be patented by Matrix soon. The company’s approach in implementing its innovative idea is based on a random clustering algorithm, which is executed in a distributed manner.  Owen Tao states that the algorithm guarantees fairness in the sense that the probability to be selected as a delegate is proportional to its PoS (and other factors). In addition, the selected node further assigns its PoW to its voters. “Our design combines both PoS and PoW for both efficiency and fairness” – Tao concludes.

The hybrid algorithm, according to Owen Tao, is designed to accelerate transaction confirmation latency. Tao further explains the essence of the algorithm’s function:

“With the PoS-based random clustering, a small number of nodes will be chosen as delegates. The transactions are broadcast only among these delegates. In previous blockchains, transactions have to transferred to every node in a P2P network and the latency increases as  the number of nodes grows. With our algorithm, the small number of nodes enables a significantly lower latency because of the reduced overhead of broadcasting transaction”.

Back at BlockShow

The first time the Matrix algorithm was introduced to the public was during the BlockShow Asia 2017 (hosted in Singapore in November 2017), where Steven Deng, the company’s Chief AI Scientist, performed as a speaker. Back then the PoW/PoS consensus was highlighted as an important part of the company’s development plan for 2018 – more specifically, the so-called “age of Speed”, scheduled for mid-2018. Keeping in mind the fact that Matrix is currently working on the prototype of the company’s hybrid development, one can safely say that the first full-scale version of algorithm will be launched this summer – most likely in June.

Big plans for 2018

After BlockShow Asia, Owen Tao shared more details about the company’s forthcoming plans and called 2018  “a big year for Matrix”. The company’s annual plan is divided into 4 “ages” which, according to Tao, correspond to important phases of Matrix development.

The first phase, called “Age of Genesis”, will include building and releasing the infrastructure of Matrix blockchain. The second one, the above mentioned “Age of Speed”, will be dedicated to developing and releasing a PoS/PoW consensus algorithm for an expected target transaction throughput of 500,000 transactions per second. The third phase, “Age of Civilization”, will include building the AI-based code generation and security checking frameworks. According to Owen Tao, main target of this stage is to integrate AI techniques with the Matrix blockchain so that orders autonomously emerge. The fourth and final stage,  “Age of Wonder” will mark the development of the prototype of mining hardware as well as AI based mining mechanisms.

Game Machine ICO Unleashes the Power of Blockchain

Gaming Industry has found a novel way to grow with the help of Game Machine, a crowdfunding platform presenting a huge analytics data and ratings from the participants. The token sale of the platform started on December 14, 2017 and is being almost completed – the ICO has only 2 days left.

The Background

Gaming industry showed remarkable growth, hitting $108.9 billion in 2017. The industry is further rising to new levels in view of increasing popularity of decentralized technologies. To exploit the growth potential and provide a novel crowdfunding platform for the gamers, developers and investors, Game Machine has come up with a blockchain based platform. It is a global, open ecosystem where gamers, developers, advertisers and hardware manufacturers work collaboratively towards the growth of the industry.

The Growing Market for Games is the Next Big Opportunity

A huge segment of gaming industry showing a dramatic growth since last few decades is based on PC games. The growing number of new titles, eSports, and digital distribution has brought new opportunities for gaming companies to capture global customers, comprising of gamers, internet users and tech lovers.

Colin Sebastian, senior research analyst at Robert W. Baird & Co. says,

“More people are playing games every day and spending more money on games, unlike almost every other form of media, where there’s downward pressure. Games are still a growing industry and [they’re] becoming more dynamic… Video games should be near the top of the lists of investors”.

In the present scenario, the integration of blockchain technologies and gaming is the mainstream idea, and Game Machine is the first platform based on this concept. The transparent, decentralized ecosystem of Game Machine involves all industry players, providing in-game items to players, an opportunity to developers to pitch games to their audience, the space and tools to advertisers and a profitable, income-generating project to the investors.

Benefits for the Investors

The participating gamers on Game Machine’s crowdfunding platform gain an opportunity to securely contribute towards a profitable product. The ecosystem provides all the stats and users trends based on their interest in the ideas created by developers. Hence, users don’t need to have any advanced technical knowledge to use the project and earn an income out of it. Game Machine has also offered exclusive discounts and sales schemes for the investors. Top-tier investors can also buy a portion of the tokens, released by each project.

Game Machine- An already-working Project

The fact that Game Machine is already functional, differentiates it from other crypto-projects in the market. Just within a year, the team created an app based on the personal funding of $80,000. By now, the company has captured over 70,000 potential users on its Game Machine Client and pool over $2 500 000 on-going ICO.

Game Machine has already given over 40,000 in-game elements to the gamers within 2 months of the app launch, indicating a high interest among players. In addition, the miner also shows a great response as more than 500,000,000 tokens have already been obtained. So far, the experts give a high rating to the project and consider it the evolution of the global gaming industry.

About Token Sale

The Game Machine team is further developing the product, for which the token sale was launched. A video showing the concept has also been created by the team. The on-going token sale will end by January 31, 2018. The company has issued 140 million GMIT tokens, capped at 40,000 ETH. At the end of the token sale, the investors can sell tokens to developers and gamers for an enhanced value or invest them in Game Machine projects. Game Machine tokens GMIT will be listed soon on the three of most popular exchanges. So anyone can take a part in the token sale and become a lucky token holder, get a good profit and invest into reliable projects that will be on the Game Machine platform soon.

To know more about the platform and participate in ICO, please visit: gamemachine.io

 

The post Game Machine ICO Unleashes the Power of Blockchain appeared first on NewsBTC.

Vote and Help Choose Bitcoin.org’s New Design

Redesigning Bitcoin.org

As one of the most-visited websites in the Bitcoin ecosystem, Bitcoin.org helps
millions of people each month, learn more about Bitcoin. One of our goals in
2018 is to modernize the design of the site in an effort to continue to
provide rich content and information to users in an efficient way, as Bitcoin
technology continues to evolve.

Below are three new homepage designs we’d like to vote on. Each version
shows what the homepage would look like on a desktop, handheld or tablet
device. The version that receives the most votes will then be further extended
into the subpages of the site:

Please help spread the word and choose your favorite design.

Voting will be open until 0:00 UTC on Sunday, February 4th.

You can also view the results.

About Bitcoin.org

Bitcoin.org was originally registered and owned by Satoshi Nakamoto and Martti
Malmi. When Satoshi left the project, he gave ownership of the domain to
additional people, separate from the Bitcoin developers, to spread
responsibility and prevent any one person or group from easily gaining control
over the Bitcoin project. Since then, the site has been developed and
maintained by different members of the Bitcoin community.

There have been over 3,200 commits from 180 contributors from all over the
world. In addition to this, over 950 translators have helped to make the site
display natively to visitors by default in their own languages —now 25
different languages and growing.

Interested in getting involved?

Learn how you can participate.

World’s Largest Investment Company: ‘Interesting’ Bitcoin Is Under ‘Close Review’

Cryptocurrency is not “investable” for BlackRock Investment Institute now, but the platform is keeping a keen eye for change, says chief strategist.

Isabelle Mateos Y Lago, chief multi-asset strategist at BlackRock, an investment management corporation with $5.7 trln in assets under management, has said that the company is keeping cryptocurrency under “close review” as an “interesting development.”

Speaking to Bloomberg TV Monday, Jan. 29, the senior executive said that although cryptocurrency did not constitute “an investable asset” for the world’s largest money manager at present, it was actively tracking progress as it is “clearly evolving very fast.”

The comments temper those of BlackRock CEO Larry Fink, who last week went on record at the World Economic Forum 2018 to describe the space as an “index of money laundering” and previously implied he had no plans to enter the future Bitcoin ETF arena.

As the dust settles on Japanese exchange Coincheck’s $530mln hack, Mateos Y Lago nevertheless saw little reason to discard cryptocurrency investment entirely.

“The fact that interest has persisted despite these repeated hacks,” she continued, describing customer demand for Bitcoin at BlackRock, “despite regulators waking up and trying to catch up with this new development and gradually weeding out all the illegal uses suggests there really is something to it.”

By adopting a ‘not-now-but-later’ perspective on interaction, BlackRock echoes sentiments from Deutsche Bank’s Chief Investment Office leader Markus Mueller, who likewise told Bloomberg that while crypto is for “speculative” investors now, the next five to ten years should see regulatory progress allow its treatment as a “established asset class.”

“There’s lots of ways to get in; the question is, are they safe?” Mateos Y Lago continued on Blockchain and ICO investment opportunities, saying it was “hard to put a fair value” on them for regular investors.

Japan’s Financial Watchdog Orders Coincheck Improvements Following $500 Million Hack

Japan’s Financial Watchdog Orders Coincheck Improvements Following $500 Million Hack

Following the hack of Japanese digital currency exchange Coincheck, the country’s financial watchdog has sent the exchange a business improvement order to ensure the industry’s security.

Last Friday, it was reported that Coincheck had halted client withdrawals without any explanation, giving rise to speculation that the exchange had been hacked. It was later revealed that over $500 million worth of XEM – the token for the NEM network – had been stolen by hackers, resulting in the biggest crypto theft in history.

Now, according to an update from Coincheck, Japan’s Financial Services Agency (FSA), has ordered improvements. The exchange is to submit a report to the watchdog by the 13th February on the hack and measures to prevent a recurrence. The watchdog is also considering an on-site inspection and is expected to inspect all cryptocurrency exchanges.

Since the news of the hack came to light Coincheck has vowed to reimburse customers their lost money; however, Japanese authorities have raised questions as to whether the exchange has enough funds to cover the theft. According to a report from the Financial Times, Coincheck said it would reimburse 260,000 customers, however, it has yet to demonstrate how and when it plans to do this. The FSA claim that the exchange only has balance sheet details for September and that it is seeking more up-to-date information.

“I hear from the FSA they will put maximum effort into helping Coincheck’s customers, including the return of their money,” said Yoshihide Suga, Japan’s chief cabinet secretary. “I think the FSA will be making sure Coincheck handles this in line with the law and its contractual obligations.”

According to a report from the Nikkei, it was due to sloppy management at Coincheck, which left customers’ money at risk. As a result, the theft of the cryptocurrency made its loss far greater than that of Mt. Gox.

Japan is one of the few countries that has authorised and regulated crypto trading. Since April 2017, it has required digital currency operators to register with the government. However, pre-existing exchanges such as Coincheck have been permitted to continue offering services ahead of being officially registered. To date, the financial watchdog has registered 16 crypto exchanges, with another 16 waiting for clearance.

Singapore-based NEM Foundation said in a recent blog that it had a ‘full account of all Coincheck’s lost XEM on the blockchain.’ It added that the hacker had not moved any of the funds to any exchange or personal accounts, but that it had no way of returning the lost funds to customers.

The post Japan’s Financial Watchdog Orders Coincheck Improvements Following $500 Million Hack appeared first on Ethereum World News.

Deutsche Bank: ‘Required Governance’ For Crypto ‘Could’ Arrive By 2023

A senior Deutsche Bank figure has suggested cryptocurrency could be considered like “established asset classes” in five years.

Deutsche Bank’s Chief Investment Office head Markus Mueller has suggested that “governance” that will legitimize crypto investments could exist in “five to ten years.”

Originally speaking in an interview with Bloomberg on Monday, Jan. 29, Mueller cautioned against current investment in cryptocurrency as only for those “who invest speculatively” while appealing for businesses in the sphere to work together with regulators.

“Once security and the corresponding trust have been created, cryptocurrencies can be assessed and evaluated like established asset classes,” he forecast.

“It’s possible that the required governance will be in existence in five to ten years.”

Deutsche Bank has traditionally taken a bearish view on cryptocurrencies as prices rise, cautioning in December that a major fall in Bitcoin was being “discounted as a small issue” by financial markets.

The lack of volatility in traditional stocks was driving investor interest in more risky assets such as Bitcoin, fellow Deutsche Bank analyst Masao Muraki determined in a note mid-January.

“Now, a growing number of institutional investors are watching cryptocurrencies as the frontier of risk-taking to evaluate the sustainability of asset prices,” he wrote.

Germany continues to fall behind in its treatment of cryptocurrencies at consumer level, providing a stark contrast to initiatives in other countries, such as neighboring Switzerland.

Earlier this month, the country’s central bank director nonetheless precluded comments from UK and US lawmakers at the World Economic Forum 2018 that regulation of cryptocurrency should be a joint international effort.

Platform Starts Trading Service For Self Mining Smart Contract

The project keeps promoting the public mining to the crowds

On Jan. 22, Artemine Token (ARTE), released the Genesis Addresses Trading website that was earlier announced in the ICO roadmap in autumn 2017. The team references the token as the version 2.0 of Minereum, which is well known in the crypto community for its concept of the first self-mining smart contract. Today, the Artemine platform provides users with access to the public mining and selling Genesis Addresses via the Ethereum Blockchain.

A billion dollar market?

Earlier Artemine introduced unrestricted access to public mining, which allows anyone to mine the token by calling a ‘smart contract’ function (as previously reported by Cointelegraph.) The team expressed their belief that the trading of Genesis Addresses can become a billion dollar market once people start looking at the advantages of the self-mining principle.

The team stated: “Once people start seeing the benefits of self-mining, which basically allows anyone to mine coins automatically without the need of any kind of mining equipment, we should start seeing the tradability of Genesis Addresses to become a more important factor. Possibly reaching a $1 bln dollar market in a not so distant future.”

What are Genesis Addresses?

Genesis Addresses are addresses part of the creation of the initial supply of Artemine during their ICO. These addresses were attributed to a certain amount of coins that will be self-mined for a specific amount of time. They are the only addresses generating the circulating supply of Artemine.

In a recent statement, the team announced via Twitter that 2,898 Genesis Addresses were generated during the ICO and no more will be created, adding that it is impossible as per the smart contract code to generate any more.

According to the project’s white paper, the mining rate of each Genesis Address is 0.000001 percent of the total amount of ARTE, per Ethereum block. This means that the mining of each Genesis Address will take exactly 100 mln Ethereum blocks which in time translates into about 60 years’ worth of mining, depending on how the Ethereum network performs.

As the team reported recently in their announcement, the trade of Genesis Addresses is totally decentralized. The sellers simply set an Ether buy price on the address by calling the smart contract function “SetGenesisBuyPrice.” Once the price is set all it takes for a trade to occur is for a buyer to call the Smart Contract function “BuyGenesis” and voilà, the trading is done totally decentralized without the need of any third party. All Genesis Addresses for sale can be visualized in Artemine’s Trading Website.

The next steps

The Artemine project closed has finished its crowdsale on Oct. 14. And the team seems to follow the Artemine’s roadmap quite consistently, releasing the Genesis Addresses Trading website in January 2018. The next step on and final step on the map is in implementing an ICO Factory.

As reported by the team, the ICO Factory will be an update to the already existing Minereum Token Service which will allow creating not only your own Ethereum Token but also your own ICO Smart Contract.

Artemine (ARTE) is currently trading on the exchanges Livecoin and EtherDelta as stated in their website.

 

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