2018 will be most likely known as the ‘bear year’, due to the fact that, other than a number of minor surges, the markets have seen major dips through the majority of 2018. Despite all this, the CEO of Binance, Changpeng Zhao still remains optimistic regarding the future of the market and believes that we can expect a bull run ‘sooner or later’.
Zhao is usually known by his initials, CZ and he mentioned that Binance has a ‘stellar’ year despite the plunge in the market. He also reveals that active traders on the platform have increased every month. Moreover, deposits of Bitcoin Ether and other altcoins have slowly grown too.
As reported by CryptoSlate, speaking on the crypto-based talk show CNBC Crypto Trader, CZ stated his thoughts saying that the broader crypto market and his crypto exchange still remain in a good position. Binance registered revenues of over $3 billion in the first half of this year whereas the crypto market saw its value go down from $800 billion in January to sub-$200 billion.
CZ was asked about why he thinks a bull run is coming and he said, “even if I don’t know what will catalyze a bitcoin bull run, I am certain it will happen. Sooner or later, something will trigger it.”
He added that the market has been massively affected in comparison to January but if you look at what it was like two years ago, cryptocurrencies are still trading in massive numbers and remain profitable for early traders.
Even though CZ isn’t 100 percent sure what will trigger the next Bitcoin bull run, the CEO of ShapShift, Erik Voorhees thinks that the rising US debt will be the catalyst for the next surge in the markets. The CEO noted that the world’s $20 trillion debt loans over all significant governments and banks.
When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back, and thus must print it instead, and thus fiat is doomed… watch what happens to crypto.
— Erik Voorhees (@ErikVoorhees) November 8, 2018
What are your thoughts? What could cause the next bull run? Let us know what you think down below in the comments!
Unless you’ve been living under a rock for this past week, the whole crypto space have had their jaws hit the floor following the massive crash that hit the market this week, leaving Bitcoin to drop below the $5,500 key resistance level and the rest of the market to fall with it. Some believe that this was due to the Bitcoin Cash Hash War, but really it’s hard to define exactly what has caused this.
The two different teams joint up with Bitcoin Cash ABC and Bitcoin Cash SV have been blamed for causing this crash and the value of the Bitcoin plummeting. If you take a look at CoinMarketCap.com we can see that the top ten coins have suffered quite significantly, however, interestingly XRP and Stellar seem to be powering through.
If we look at Stellar, the fifth largest cryptocurrency in the space at the time of writing we can see that the asset is up by four percent over the past 24 hours.
One of the big things that caused this is most likely down to the pending listing on Coinbase. Several crypto investors have been positive that Stellar is the next asset to be listed on the exchange, considering BAT was listed two weeks ago, we could be just days away from a new listing.
The now second biggest cryptocurrency in the world, XRP has beaten Ethereum for the silver medal and it seems to be set to hold this position for some time. The difference in market cap is now $567,448,393 between the two assets. XRP has come a long way this week.
A few theories have been running around as to why XRP is thriving in this environment including the xRapid payment solution that uses XRP and is up and running now thus creating a constant demand for XRP in the markets. Furthermore, if we look at the 24-hour trade volume, we can see that over $1.2 billion XRP was traded yesterday. The trade volume of XRP is over $860 million at the current time of time of writing.
To get an idea of how the trade volume has gone up since the Hash War for Bitcoin Cash, the volume of XRP that was traded on Monday was around $320 million.
On top of this, XRP has an always growing community which is actively supporting, using and trading the second biggest digital currency. The Canadian based Cornfield exchange has even been using XRP as a base currency.
What are your thoughts? Let us know down below!
Eight men have been arrested by law enforcement officers in Japan followed suspicions that they have been running a cryptocurrency Ponzi scheme which has accumulated just under 8 billion yen from thousands of victims across the country.
According to a recent report from a local news outlet earlier this week the men involved were suspected by police of breaking the financial laws in the country by not registering their business with the proper authorities and using digital currencies to hide what they were doing.
The men had allegedly been touting a fraudulent investment company called Sener which was claimed to have been based in the United States. From February to May last year, the men extorted 29 million yen in cash from nine people in order to buy Bitcoins on ‘their’ behalf.
The group of men involved have collected most of the payments in Bitcoin as well as another 500 million yen in cash (over 4.4 million USD). Overall, 6,000 people were affected by the scheme.
At multiple seminars across the time period, the eight men were offering people monthly returns of up to 20 percent which includes rewards if they invited their friends and family to join in too.
Out of the eight, only six have actually pleaded guilty to the allegations while the remaining to two still claim they are innocent to the accusations.
This case comes following a number of recent reports of major crypto scams in the country. Two men were even sentenced in South Korea earlier in the year for running $20 million Bitcoin pyramid scheme.
China has seen similar cases as well. For example, 98 people were involved in the infamous onecoin scheme in which they were prosecuted in May this year for summing up to $2 billion from victims. A month before this, they took $13 million.
Other schemes in China include a principal of a school who was arrested for running an illegal Ethereum mining operation in the school’s classroom massing up the schools energy bills costing them thousands.
The operation for mining Ethereum actually slowed down the network too making it hard for the other teachers to properly do their job. In the end, the teachers wanted answers and eventually uncovered the mining operation.
What are your thoughts? Let us know what you think down below in the comments!
A startup based in Hong Kong called Soccer Legends Limited is hoping to implement blockchain technology into the most popular sport worldwide, football. The project will be designed to “bridge the gap between soccer superstars, youth talents and fans.” Football fans will be able to use the 433 token to support future footballers to achieve their dreams and being able to interact with the most famous players on the planet.
In a new announcement by the firm, the ex-Manchester United player Paul Scholes who has won the Premier League eleven times and the AC Milan legend, Andriy Shevchenko (Ballon d’Or winner) have officially joined in on the project. Not only do they support the project but they will “personally participate in the ecosystem as mentor and event hosts.”
The Hong Kong startup have said that they also have an official partner in Global Legends Series (GLS), a league of retired football legends. The plan is to sign up eight more famous ex-players after the fundraising is completed.
As reported by CoinTelegraph, football is the most popular sport in the world, with an estimated 4 billion fans all over the world. That’s more than half of the population in the world. There are more than three hundred thousands football clubs worldwide and the sport has 240 million active players across the globe. Soccer Legends Limited believes that blockchain technology can be the one thing for fans to become more involved in their favourite sport and the legends they look up to. The firm has also created its own ecosystem based on the new 433 token which is an ERC-20 compliant token built on the Ethereum blockchain.
The company offers a system led by the ‘Fellowship of Legends’, a selected group of legendary football players. They have a kind of ‘principal’ status and can pick at young talented players from different football academies and further teach them. In theory, ‘principals’ will meet the young players at least four times a year, in person and teach them more techniques, leadership and also provide financial support if there is a need in physical training. The football legends like Scholes will also keep updated on the progress and introduce young players to clubs, agents, scouts and so on.
What are your thoughts? Let us know what you think down below in the comments!
Ethereum Classic (ETC) successfully defended its support against Bitcoin (BTC). Initially, ETC/BTC crashed hard along with the rest of the market. However, Ethereum Classic (ETC) crashed even harder making it one of the biggest losers next to Icon (ICX) and Stratis (Strat) both of which crashed a lot more aggressively. Yesterday’s crash resulted in the last few weak hands being shaken out and their ETC transferred to strong hands. Before any trend reversal, it is healthy to see such developments. The price cannot recover effectively in the presence of weak hands who buy and sell based on sudden whims. Even though ETC/BTC crashed hard, it remained above the long term support. The price bounced strongly off the trend line and closed well above it on the daily time frame.
Technical indicators especially the RSI show signs of a trend reversal. Of course the price can continue to drop even as RSI remains in oversold territory. However, at this stage most of the technical indicators point to the same outcome which is an imminent trend reversal. Most cryptocurrencies are once again at their critical trend lines. The price did fall significantly mainly because of the infighting in the Bitcoin Cash (BCH) community. However, it must not be forgotten that most bears had given up until yesterday. Some of them might have changed their mind recently given that the recent crash has instilled more fear in the market, but the fact remains that most of them are not ready to pull the trigger on any bearish positions.
Selling ETC/USD now is no different than buying at the top. For all we know, this whole drama in the Bitcoin Cash (BCH) community that has led to the recent sell off could be an elaborate ploy to trap in more bears before the bull run. If anything, we have seen that the influence two people can have over the market. So, if they trap in leveraged sell positions on exchanges like Bitmex or Bitfinex, they can hit them the same way and profit enormously. Even if they don’t, realizing the risks that a few powerful hands can put you out of your positions should be a strong reason in itself to not go long or short on margin at this point. That being said, we now know that both Craig S. Wright and Jihan Wu have a ton of coins that they can move the markets with.
If they sell now, someone would be more than happy to take their coins, and with that the influence those coins can wield. If you think Craig Wright or Jihan WU is prepared to do that, and if you think that all the major players like Binance, Coinbase and Bitmain are going to allow the price to break a decade long trend line, then by all means open sell orders. This last shakeout is nothing more than a careful ploy to shakeout all the weak hands and grab their favorite altcoins at dirt cheap prices. Ethereum Classic (ETC)’s strong bounce off its support shows that for every weak hand willing to sell their ETC at this stage, there is a strong hand happy to buy it from them.
On the most recent episode of the Noded Podcast, co-hosts Pierre Rochard and Michael Goldstein interviewed Interchange co-founder Dan Held about his history in the Bitcoin space and what he’s working on today. During the interview, Held revealed that his time at early bitcoin startups Blockchain and ChangeTip helped him realize that not many people want to use the digital asset for payments.
After diving into his early days co-founding ZeroBlock, Held went on to discuss his time at Blockchain, which acquired ZeroBlock, and ChangeTip.
“Then I went over to ChangeTip, which — all of the OGs remember that,” said Held. “[It] was micropayments over social media. We ended up failing, but [we] learned a lot of things along the way with both Blockchain and ChangeTip, which was that people don’t want to use this for payments.”
Held went on to explain that his time at Blockchain and ChangeTip helped shape his views around the Bitcoin Cash spin-off coin when it was created last year.
“After building and designing two of the most popular tools that facilitate [payments] and seeing no traction in that regard, it definitely shaped my mentality when the whole Bitcoin Cash hard fork scenario came around,” said Held.
Thoughts on the Lightning Network
Although Held did not see much demand for bitcoin-denominated payments in his past, he did mention that he sees the Lightning Network as an improvement in this regard.
“Lightning certainly changes the dynamic of how payments work on crypto — or specifically bitcoin,” said Held.
In Held’s view, there are three main user experience problems when it comes to bitcoin payments: the fees are too high, the payments are slow, and it’s not easy to use. Held also said that he would add bitcoin’s intraday volatility issues as another problem associated with the high fees.
While Held sees the Lightning Network as helpful in the areas of payment speed and ease of use, he still sees bitcoin’s price volatility as a major issue.
“The main thing would be the intraday volatility of the price of bitcoin would be kind of I think the biggest UX hurdle to solve if you wanted to use it as a medium of exchange or unit of account or tool for micropayments,” said Held.
After falling around 15 percent this week, Bitcoin has passed two resistance levels after it has been relatively stable over the past few weeks.
Bitcoin fell by over 10 percent following its plunge past a key resistance level after a period of relative smoothness.
Those who back Bitcoin are all asking the question of how low will it go? From this level, it just seems to be dropping even further after its biggest one day drop in under a year.
At the current time of writing, Bitcoin is priced at $5,527 but earlier in the day it did fall below the $5,500 level. As with the rest of the market, Bitcoin is in the red by 10.70 percent and no one knows what is next for the world’s leading cryptocurrency.
The coin actually fell by to the $5,220 region after it fell past the key resistance level earlier in the week following a period of decent stability. This trend continues across the markets as the majority of cryptocurrencies continue to slide.
As everything seemed to calm down a bit after Bloomberg’s Galaxy Crypto Index dropped by around 15 percent. Speculation has accumulated following this which claim that it includes the debut of the new version of Bitcoin Cash. investors are debating whether the coin is just persuading miners and traders away from the largest crypto after it broke itself off from the original Bitcoin last year.
As reported by Vancouver Sun:
“The plunge disrupted a trend of lower daily spikes and sell-offs for cryptocurrencies, often criticized in financial markets as being too unstable for use as in investment or as a currency. Only a week ago, Bitcoin’s 30-day volatility had dropped to 21.2, below that of the Standard & Poor’s 500 index for the first time in two years, according to prices compiled by Bitstamp.”
The head of trading for the Asia Pacific as Oanda Corp, Stephen Innes wrote about the matter in a note and said, “the Bitcoin Cash hard fork is proving far more destabilizing than initially thought as numerous competing factions muddy the landscape.”
In addition to this Innes also said that the disruption over the new Bitcoin Cash fork has created to much commotion and that it has triggered an escape plan for most people. He said that an eventual break below $5,000 for Bitcoin “opens the door to a test of US$2,500 as Bitcoin retail traders move from buying on dip to full-out panic mode.”
What are your thoughts? Let us know what you think down below in the comments!
Ripple (XRP) investors have had enough of Bitcoin (BTC). Every time the price starts to rally, Bitcoin (BTC) reins it back in. Ripple (XRP) is still largely influenced by Bitcoin (BTC) considering we have XRP/BTC pairs on all most major exchanges. However, we have seen that Ripple (XRP) investors have recently become more defiant and weary of the pull of Bitcoin (BTC) in a more open and organized way. Yesterday, the entire cryptocurrency market nosedived and in no time there was blood on the streets. While most cryptocurrencies lost in every way, Ripple (XRP) gained in some. The biggest victory for Ripple (XRP) was that it beat Ethereum (ETH) to the second spot. That’s right; Ripple (XRP) is now the second largest coin by market cap.
How did this happen? Well, most Ripple (XRP) investors have a strong belief that XRP is here to stay whether BTC stays or not. So, when the market crashed hard, Ripple (XRP) did not crash as hard. In fact, Ripple (XRP) is currently up against Bitcoin (BTC) while most cryptocurrencies are in deep losses against Bitcoin (BTC). There have been talks of decoupling from Bitcoin (BTC) in the Ripple (XRP) community before. However, this time a lot more people are going to be open to such an idea considering that yesterday’s events exposed how decentralized Bitcoin (BTC) really is. If a pissing contest between two people can put a multi billion dollars dent in the market in a matter of seconds, does Ripple (XRP) really want anything to do with that market?
Ripple (XRP) supporters were also quick to diss Bitcoin (BTC) maximalists for their whole “holier than thou” act after the crash actually exposed the centralized nature of Bitcoin (BTC). This does not have anything to do with Bitcoin (BTC) fundamentally, nor does it mean that Ripple (XRP) may eventually replace Bitcoin (BTC) as a better alternative. All it means is that Bitcoin (BTC) maximalists criticizing Ripple (XRP) for being too centralized were either oblivious to their own affairs or they were being biased. In any case, a lot of people are wondering at this point why they should not just invest in Ripple XRP/USD instead of something like Bitcoin (BTC) considering Ripple (XRP) is controlled by one centralized entity that is likely to act in its best interest.
Bitcoin (BTC) on the other hand can even be influenced by people who do not have its best interest at heart. Two of those people are Craig S. Wright and Jihan Wu. Both of them claim to care about Satoshi’s vision but none of them seem to truly understand what it actually means. Both of them are prepared to do anything to bring the other down regardless of its impact on the price of Bitcoin (BTC). On the other hand, Ripple (the company) is extremely unlikely to do anything that is going to hurt the price of XRP. If Bitcoin (BTC) and the rest of the market do not put its affairs in order, Ripple (XRP) is highly likely to end up decoupling from Bitcoin (BTC) sooner rather than later.
The day Bitcoin climbs over 80,000% is the day many of us become very happy indeed. Obviously, a climb in excess of 80,000% is very rare however, in fact it’s almost impossible. ETA, the native token to the Etheera project however has proven otherwise, pleasing investors massively after embarking on a price surge that saw the value of ETA fly from $0.000029, up to $0.125510 in a space of around 2 weeks. With this, came a huge surge in the market capitalisation of the token too, injecting this new project right into the mainstream end of the crypto community.
Now, as we can see from the markets, ETA has crashed back down to earth, this was expected as a result of hard correction, which is always inevitable when a token manages to jump such a huge amount in a very short space of time. There’s no need to worry about this, it was always going to happen.
What is ETA?
Now, before we delve into what has caused the colossal price surge, we want to tell you a little bit more about ETA and the Etheera project. Remember, just because ETA has peaked so quickly this month, it doesn’t make it a perfect investment opportunity. If you want to invest, please go and do your own prior research as we are not investment advisers. We say this often, but it’s important – only invest what you can afford to lose and trade safe.
Etheera is a blockchain project designed to change the way the Real Estate industry works. Based in Switzerland, and backed by its native ETA token, Etheera is considered to be a young project, one that promises to disrupt the real estate industry, across Europe, and perhaps across the rest of the world.
Etheera exists as a platform and a piece of software that allows users to explore a range of different real estate based services, such features include; Matching, Consulting and a Huge Tools series that aims to transform real estate.
According to the Etheera website:
“The Etheera project was established initially in 2017 by IZ Immobilien Kriens GmbH.
The IZ Real Estate Kriens GmbH is a Swiss-based company that is active in the real estate
field since 2013. As industry insiders with very wide expertise, market knowledge and
informative exchange with business partners, owners, landlords and potential buyers,
we have recognized problems and suboptimal processes already at the national level
without imagining the same but much wider problems on international levels! With
Etheera, we have found the ALL IN ONE solution.”
“Etheera offers the first decentralized global real estate platform, based on the Ethereum
blockchain, which provides properties for purchasing, renting and bed & breakfast offers.
This platform is ideal for everybody and everyone, even if you as a private person want to
provide a room for one night or longer period of time, or whether you are looking anything
else. Etheera also thinks about the real estate brokers and professionals of the industry and
offers a complete software tool which has integrated possibilities and will match all needs.”
ETA as a token has been built to support the Etheera platform as a utility token that will be used within the software itself, to allow estate agents to complete tasks and use certain tools within the programme. Since its recent launch and listing on exchanges in the first half of 2018, ETA has seen the most incredible return, which lines up with the future plan of the Etheera project, to expand into a worldwide audience and to begin to explore how blockchain technology could impact other industries such as insurance and precautionary products.
Why has ETA seen such a big spike?
Firstly, let’s just explore the full scale of this spike. According to Ethereum World News:
“Throughout November, ETA has experienced multiple price jumps leading to its astronomical price increase. It began on the first day of November when the price of Etheera suddenly surged from $0.000401 to $0.002658, an increase of more than 560 percent. The next price surge came between November 9 and November 10, 2018. During this period, the value of ETA rose from $0.003228 to $0.011274 – this time, a value increase in the region of 250 percent. Within this rally, there was an initial spike of approximately 85 percent which took the token value to $0.005951. The third spike occurred between Monday and Tuesday (November 12 to November 13, 2018).”
As we have stated, this spike has now come to a dramatic conclusion.
We can’t fully determine why this has happened, however we can confirm that this is good news for those who bought in early during the ICO phase of ETA. Some reports do suggest that ETA is becoming very popular within a number of decentralised exchanges and that this rise in popularity has led to a surge in the market cap and in turn, the value of the ETA token.
Such reports suggest that decentralised exchanges such as Ethershift, HyperDEX, Coinical and BarterDEX have all recently added support ETA on their respective exchanges. Therefore, it seems that this surge may have been encouraged by a small adoption of ETA, within the decentralised exchange community.
What does this mean for me?
If you’re looking to invest, let’s not expect ETA to fly up 80,000% again any time soon, this will be a temporary spike. For now, the advice is to remain calm and see how this pans out. I wouldn’t purchase any ETA now, we expect that this is about to become very volatile and a little risky which is evident in the way that ETA has now hit a major decline.
What we are seeing here is the true essence of a volatile cryptocurrency market!
Famously, plans are being made in India by the Reserve Bank of India (RBI) to ban cryptocurrencies such as Bitcoin, Ethereum and XRP and others. Even though it is currently unclear what the governments move against cryptocurrencies will be, what we do know is that the fact that integrating this will be no easy task.
If anything, this attempt to ban digital currencies could only fuel money laundering, illegitimate transactions and tax evasion.
Of course, cryptocurrencies aren’t bound by a national jurisdiction but are powered by blockchain technology instead, a distributed and decentralised public online ledger which is used to record payments. A global network of computers manages the database that records all the deals.
There are around ten big crypto exchanges in India with an estimated user base of up to six million.
As reported by qz.com, cryptocurrencies don’t rely on dependent on a crypto exchanges wallet as they can be stored on a cloud storage platform such as Dropbox, a pen drive, laptop or a private virtual wallet. Nischal Shetty, founder and CEO of the Indian crypto exchange, WazirX said that “even if the government decides to ban possession, it will be just impossible to implement it.”
Another way the government could prevent the public from transferring cryptocurrencies could be by cracking down on the exchanges and forcing them to close up shop.
Shetty says that even that might not be successful saying:
“The government can successfully ban the known, big exchanges; but then small, hyperlocal exchanges will possibly come up and it will be extremely difficult to keep track of and block them.”
Even if the exchanges are closed down, a cryptocurrency investor would be able to migrate to any of the several stock exchanges across the globe. However, these are seen as foreign transactions and the Indian government has imposed checks and balances on such dealings.
Even so, there are ways that this can avoid. Crypto investors might resort to peer-to-peer channels to transfer their investments into the overseas exchanges:
The policy counsel at Incrypt (a company which gives advice to blockchain tech firms) Tanvi Ratna spoke on the matter saying:
“Once an Indian (citizen) is invested in a foreign exchange, it might become impossible for the government to trace his or her investments because most foreign exchanges also allow conversion to private coins which makes transactions untraceable.”
What are your thoughts? Let us know what you think down in the comments below!
Bitcoin (BTC) has once again crashed hard in a long time. The price is currently sitting at a critical trend line that extends all the way to late 2011. The above monthly chart for BTC/USD shows that this trend line has never been breached in the last seven years. So, what are the odds that it might be breached this time and what will be the repercussions if this trend line is broken? To answer these questions, let us first look at the rest of the indicators on the chart. If we look at the volume profile, we can see it is still in a steady decline. The RSI is nearing critical levels and is primed for a reversal.
Both of these are strong indicators that Bitcoin (BTC) is poised for a trend reversal, but there is more to it. If we look at the Elder’s Force Index (EFI) profile on the above chart, we can see the strength of moves up and down. For the past few months, the EFI has been flattening. This means that it has been preparing for a strong move up. Throughout the history of Bitcoin (BTC) a flattened EFI has led to two distinct events. The first is a trend reversal and the second is a trend continuation. The trend reversal that follows a flattened EFI is a strong one and it sees the price reaching a new all time high. The trend continuation pattern after a flattened EFI is a very weak one.
In this case, the trend continuation would be a bearish continuation. The price cannot make big moves to $4,000 or $3,000 because the EFI has flattened out. This does not mean though that the price cannot fall to those levels. It simply means that if the price were to fall to those levels, it will not be in the manner we saw yesterday. The price will have to decline over a period of an additional 12 months or longer to reach those levels. Considering that we have Baakt and Fidelity all set to get into the game in the months ahead, it is unlikely that we may see a bear trend continue for that long. Besides, if the price were to fall to $4,000, it would have to break the seven years long trend line.
If that trend line is broken, talking about $4,000 or $3,000 would be useless because there would be nothing holding BTC/USD back from falling to even lower levels, like the $1,000 level that Craig Wright is aiming for. It is important to note here that this is not about a price. If Bitcoin (BTC) breaks the seven years long trend line, it will deal a serious blow to any bullish resolve. Investors will be completely clueless as to what to expect next. That kind of uncertainty has the potential to kill the entire market considering that it is still in its infancy. In my opinion, there are a lot of stakeholders with much higher stakes than Craig Wright or Jihan Wu who simply cannot afford to let that happen.
Following on from an open stance to the always changing application that is blockchain technology, the Managing Director at International Monetary Fund (IMF), Christine Lagarde has spoken on the discussion surrounding the idea of central bank cryptocurrencies. She said that they should be considered and urged further to talk about the potential roles of central banks.
On the 14th November, Lagarde spoke at a panel during the Fintech Festival in Singapore in which she opened up to the audience regarding the disruptive nature of technological change and said, “the key is to harness the benefits while managing the risks”.
During her speech at the Fintech Festival, the managing director mentioned three areas for her address which included the roles of central banks in the new financial space, the constantly evolving nature of money and Fintech development and a look at the downsides and steps towards mitigation.
Mentioning the bigger names in the space such as Ethereum, Ripple and Bitcoin, Lagarde believes that cryptocurrencies are looking to find a solid position in the world we live in today and are constantly reinventing themselves as they hope to search for more legitimate grounds through stable values including cheaper a quicker transactions transaction settlements.
As said by Lagarde, the e-money providers consider themselves to be less risky than banks due to the fact that they don’t lend money and that digital currencies are looking to put more trust in technology. Nevertheless, she still remains sceptical and retains the belief that “proper regulations of these entities will remain a pillar of trust”.
As reported by Bitcoin News, an article published earlier in the month by Lagarde made ground for the case for regulations that didn’t silence innovations and offered a good point for both in favour of cryptocurrencies and against them.
Following the reveal of the latest IMF paper called ‘Casting Light on Central Bank Digital Currencies’ which looks into the good and bad of the concept, Lagarde said that “we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy.”
In other crypto news over the past day, the markets are in something of a slump… well, more of a crash in reality. Bitcoin is down 12 percent and has even gone below the $5,500 level.
What are your thoughts? Let us know what you think down below in the comments!
The American computer scientist and one of the minds behind the creation of Bitcoin, Craig Wright has said that he is prepared to take on Bitcoin to bring it on down to one thousand dollars if that’s what it takes for it to win the Bitcoin Cash hash war.
The alleged part creator of Bitcoin and the chief scientist at the blockchain development firm nChain, which is estimated to own millions in Bitcoin is working with Calvin Ayre of Bitcoin Cash mining pool CoinGeek in order to make sure their fork of Bitcoin Cash is successful over the fork of Bitmain-supported by the Bitcoin Cash development team, Bitcoin ABC.
On top of all of this Ripple seems to be making the best of everything since they have overtaken Ethereum in terms of market cap which has made it the second biggest cryptocurrency in the world at the time of writing.
The CEO of Bitcoin.com and an avid supporter of the Bitcoin ABC fork, Roger Ver doesn’t have much faith in Wright’s SV (Satoshi’s Vision) fork. He has put the odds of Wright’s team winning the hash war at 10:1 against. The head of research at the cryptocurrency exchange massive BitMEX, Jonathan Bier had similar thoughts which he said in statements in a recent interview.
“The chain will split in two, but the economy will support ABC and reject SV (Satoshi’s Vision). SV will have a low price and miners will leave it in a few weeks. That is my prediction.”
As reported by Crypto Coin Spy, despite who comes out the other side victorious, the hash war has the potential to end Bitcoin Cash and take down the rest of the cryptocurrencies along with it. In today’s market, the current state has is a massive slump which could be the consequences of Wright or another Bitcoin whale selling off their Bitcoin in order to fund the hash war. Analysts have also pointed out that Bitcoin CME futures reached a trading limit yesterday which caused an avalanche of stop-loss orders going into effect.
One other theory is that is going around is that investors are cashing out ahead of time just before the Black Friday Christmas sales but this is unlikely since the percentage of small-time investors cashing out could have a big impact on the market all in one day.
What are your thoughts? Let us know what you think down below in the comments!
Imagine a digital billboard screen that can capture your features as you approach it and can then show you an ad based on who you are and what your personal preferences are!
A highly intelligent screen that can pick up on facial and body features, the brands you wear, whether you are male or female and even your emotions!
Bidooh’s sci-fi like digital advertising billboard screens can do this and much more. The idea for these screens came when the two co-founders of Bidooh watched a film together. The film Minority report is set in the future and the inspirational moment came when Tom Cruise walked towards a screen in a store and the screen recognised him and changed to deliver ads to his own personal preferences.
18 months later and the co-founders Abdul Alim and Shaz Mughal have developed their very own sci-fi like intelligent digital advertising billboard and they are now in the process of launching their company Bidooh on the blockchain.
“WAIT!”, I hear you ask. Such groundbreaking technology is pretty amazing but “WHAT ARE THE IMPLICATIONS FOR PERSONAL DATA PRIVACY?”
Rest assured that Bidooh takes its responsibilities extremely seriously.
Firstly, there is a difference between the ‘facial analysis’ technology of Bidooh’s screens and the “facial recognition” technology that will be used by subscribers who use the Bidooh app.
Cameras within Bidooh’s digital screens are able to recognise distinct features of the human face. These features include hair colour, beards, moustaches, sunglasses/glasses, brand recognition, height, body shape and emotions. The inbuilt cameras are able to tell to an extremely high percentage of probability (99%) that a face captured by them is male or female.
However, it must be noted that the technology employed here DOES NOT RECOGNISE WHO THIS PERSON IS AND DOES NOT COLLECT OR STORE ANY PERSONAL DETAILS. It is only a way for advertisers to be able to capture demographics which can be used by them to effectively target their chosen audience.
All data is anonymised so that there is nothing that will identify an individual — this whole process is totally 100% GDPR compliant.
On the other hand, the facial recognition tech that Bidooh has developed is able to recognise facial features to such an incredible extent that faces can be matched with Facebook profiles, the person can be recognised, and ads can be delivered tailored to that person’s preferences — all in a matter of moments!
Obviously not all people are happy with having their data collected and ‘choice’ is an overriding principle that is enshrined in our society.
Bidooh app opt-in
However, the big difference here is that a person wishing to take advantage of facial recognition must first download the Bidooh mobile app and then MUST GIVE THEIR PERMISSION (in-app) in order for this advanced recognition to take place. This permission can be revoked at any time by the app user and is therefore a safe way of ensuring that personal privacy is totally adhered to.
What kind of data is collected?
Identity data (name, address, DOB)
Contact data (email address and telephone numbers)
Technical data (the kind of device and technology you are using including IP address, browser, operating system, platform etc.)
Marketing and communications data (marketing preferences from Bidooh and third parties plus communications preferences such as via Facebook or Twitter etc.)
Bidooh is legally compliant in collecting this information by conforming to the ‘General Data Protection Regulation 2016/679’.
So why agree to be recognised?
So what exactly is in it for someone who grants permission to have their face recognised by Bidooh’s high tech software?
The platform pays a mobile app user tokens just for walking towards a Bidooh billboard screen and then adds to these tokens if the user interacts with the ad in some way (such as touching certain parts of the screen or following links etc.) Different ads offer more or less tokens and some will offer other rewards such as prizes and vouchers.
Tokens earned through the app in this way can then be used in participating outlets such as restaurants, stores and online retailers — the possibilities here are vast. The tokens spent in these businesses could then be used by them to buy even more advertising space, thereby creating a business to client loop that is mutually profitable and advantageous to both parties.
With the use of Bidooh’s high tech digital screens, demographics for digital billboard advertising are about to become extremely comprehensive and reliable. Advertisers will be able to make use of a wealth of data, never available to them before, and will be able to laser target their adverts so that they reach the precise audience they are aimed at.
When Steven Spielberg made Minority report he was attempting to portray a futuristic sci-fi world that was far beyond the capabilities of our present day technological advances. Bidooh has brought that futuristic dream into present day reality and stands to revolutionise the DOOH (Digital Out of Home) industry in its entirety.
Disclaimer: All the above views are my own and should in no way be taken as financial advice. All those wishing to invest in the crypto market should do their own research or use the services of a fully certified financial advisor.
Ripple is constantly being discussed in the crypto space from both supporters of the firm and people who aren’t as interested. The word Ripple itself can refer to several areas, including the native token XRP, Ripple Labs, the Ripple protocol and so on.
Each of these has different roles to play in the Ripple ecosystem and are both important for traders to make better investment decisions.
To start with, let us talk about Ripple Labs.
Ripple Labs is what owns everything to do with Ripple. Based in California, the software firm behind the development of the Ripple protocol and the XRP token. It was originally founded in 2012 as ‘Opencoin’ by Jedd McCaleb and Chris Larsen but it was rebranded to Ripple Labs in 2015.
As of this year, the firm has raised just under $100 million in funding following a list of investors including Google Ventures, Standard Chartered, Accenture, Andreeson Horowitz.
Ripple Labs operate quite a number of validator nodes on the Ripple network which allows them significant control over the Ripple Protocol during this time.
The Ripple Protocol
The Ripple Protocol is an interbank settlement protocol which is designed with quicker cross-border transactions across different countries and asset classes in mind.
How everything works on the Ripple Protocol is through traditional banking systems which require one of two things for settlements between accounts from different banks. As said by Use The Bitcoin, it is sort of like “an ‘IOU’ from one bank to another. The transaction will be recorded on each bank’s books and settled at a later date, so the recipient can have access to their funds immediately.”
If this doesn’t work, then the first bank will need to have an account open with the second so that they can make an actual deposit to the second bank. Only then can the recipient access funds from their account.
This is the native currency of the Ripple network and while XRP has relatively low transaction fees, it isn’t actually XRP that is used for cross-border currency swaps in some cases. Settlements in the Ripple Protocol can be done in any asset which includes the euro, USD or even Bitcoin. Take Santander’s OnePayFX app for example which uses Ripple technology to facilitate fiat cross-border payments.
What are your thoughts? Let us know what you think down below in the comments!