Federal Reserve Governor Lael Brainard said the central bank is monitoring the “extreme volatility” of cryptocurrency prices, particularly bitcoin, but does not believe virtual currencies pose a current threat to U.S. financial stability. Brainard made the remarks April 3 during a speech at the Stern School of Business in New York, where she warned investors to The post Federal Reserve Governor: We’re Monitoring ‘Extreme Volatility’ of Cryptocurrencies appeared first on CCN
Cryptocurrency exchange giant OKEx is pushing back against allegations that it is responsible for market manipulation that caused the Bitcoin price to crash below $5,000 on its futures exchange last week. In a statement released Wednesday, the Hong Kong-based exchange denied allegations that it had actively manipulated the futures markets to liquidate the positions of The post OKEx Denies Responsibility for Bitcoin Price Crash on Futures Exchange appeared first on CCN
This is a sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. The startup economy is exploding, but because most of the players in the space are small companies, they often lack the resources to make the right decisions in many The post SMRT Project Leverages Blockchain Technology To Jumpstart The Startup Economy appeared first on CCN
Bitcoin Cash is a very interesting addition to the cryptocurrency industry. Although it is an alternative version of Bitcoin, the currency seems to have made its mark on the industry. As such, the currency now has its very own peer-to-peer exchange, known as Remitano. This Vietnamese platform launched some time ago and recently decided to add BCH. Remitano is a Game Changer for BCH It is quite clear that there is a lot more to cryptocurrency than just Bitcoin. Even though BTC influences the value of all other cryptocurrencies on the market today, it seems that situation may come to change in the future. With Bitcoin Cash continuing to make its mark on the industry, there are some interesting changes to look forward to, by the look of things. With Remitano making this change, Vietnamese cryptocurrency enthusiasts will have an easier time buying and selling BCH. This popular peer-to-peer marketplace for Bitcoin Cash will work in a similar way to LocalBitcoinCash. Even so, this is the first major P2P exchange for BCH transactions, according to the team. With all transactions subject to escrow, funds will be kept safe and scammers won’t be successful. Remitano wants to provide the best prices on the market by keeping their fees down to 0.5%. As of right now, the market average for peer-to-peer trading platforms is closer to 1%, which is pretty steep. The escrow aspect is something everyone can appreciate, as dealing with buyers and sellers directly can be a bit dangerous. It is not the first time Remitano has made an impact on the cryptocurrency markets. The platform has been around for quite some time now, yet it has only featured Bitcoin, Ethereum, and USDT until now. The addition of Bitcoin Cash will certainly attract a lot of attention. The Remitano team is convinced that BCH has lower fees and faster confirmations compared to Bitcoin, making it a viable contender. Given the perceived popularity of Bitcoin Cash, one would have expected other P2P trading solutions to integrate this currency. So far, that has not been the case just yet, which is why Remitano wants to remain ahead of the competition. They see this change as a way to increase the day-to-day use of cryptocurrencies across Vietnam. Whether or not BCH can live up to those expectations remains to be determined. It will be interesting to see how this business decision plays out for Remitano. Adding a new currency now and then is always a good decision, although there is no guarantee this addition will bring more positive attention to the platform. Whether or not other platforms will integrate Bitcoin Cash moving forward is another question that can’t be easily answered.
Boy oh boy… Where to even begin? Yesterday, we mentioned that recovery in the crypto arena may be happening, but judging from today’s massive price drop, it appears that isn’t the case. Bitcoin has fallen by approximately $600 from yesterday’s high of nearly $7,500. Bitcoin has been in a serious slump for the past two weeks, and it appears that slump is here to stay a while longer. Analysts are discussing what could potentially be the primary causes for the drop. Some say regulation. Others discuss the idea that bitcoin and cryptocurrencies are still birthing technologies, and haven’t worked out all their kinks yet. Some say bitcoin is still so new, it’s vulnerable to news trends and even negative word of mouth. These are items we’ve all heard before, and will undoubtedly hear again over the coming months. But where most analysts hold common ground is in their thoughts that bitcoin recovery is closer than we think. Despite the massive volatility we’ve witnessed over the past few weeks and the consistent price fluctuations that have undoubtedly put enthusiasts on edge, those heavily involved with bitcoin still say it’s everything it claims to be, and remain bullish about the future. Former COO of Skype Michael Jackson is one of those figures. An alleged bitcoin expert, Jackson recently spoke with The Independent to deliver his thoughts on the future of the currency: “The price has been driven by speculators, and they suddenly got cold feet, but there’s considerable effort going on behind the scenes, including new underlying technology that is powering faster transactions. Meanwhile, regulators seem open-minded and are now working to eliminate the risks for consumers, so I see no reason why bitcoin shouldn’t fulfill its dream, and if it does, then recent price falls will appear trivial.” In addition, another source offers long and descriptive reasoning about how and why bitcoin could triple by the end of the year, which would place it anywhere between $20,000 – $23,000 – stronger than where things ended in 2017. The source suggests that bitcoin users have grown exponentially since the currency first became available; that cross border and wire transfers involving bitcoin have also surged, and that there are over 12,000 blockchain and bitcoin venues based in the United States, Europe and Japan. In addition, the number of brick-and-mortar stores accepting bitcoin and cryptocurrency payments has ultimately grown by about seven to eight percent since early 2017. That’s a big number for such a short period of time. Granted the annual transaction volume heads for the trillions (instead of the billions where it now stands), bitcoin’s price of $20,000+ wouldn’t be too off the mark. It is hard to take everything seriously, however, considering there are so many clashing factors and analysts saying the opposite of one another. Yesterday, we discussed a group of researchers in Europe that predicted further drops and swings in the bitcoin price before serious recovery was witnessed, while today, many alleged experts think the opposite. If there’s one thing we know for sure, it’s that the currency is not out of the woods yet, and that things have just as much chance of moving up as they do down – at least for the time being. Let’s hope that as we approach the summer, bitcoin’s price experiences the changes so many bullish analysts are predicting.
One would expect overall investor sentiment regarding Bitcoin and altcoins to be rather pessimistic. Most people are all too aware that the current market trend is only temporary, though. As such, the results of the recent Huobi Industry Data Report paint an interesting picture. According to this information, overall sentiment remains rather optimistic. Bullish Expectations Remain in Place After three months of nothing but steady value declines, one would expect investors to have cooled off on Bitcoin for a while. Indeed, it seems as if that is one of the main reasons why the total cryptocurrency market cap has tanked so much. A lower trading volume usually means less interest from investors and speculators, but it seems the opposite is true in this case.More specifically, the new Huobi Industry Data Report shows there is a lot of positive momentum among cryptocurrency investors. Over one in three respondents expect a substantial increase in the total cryptocurrency market cap during the month of April. Less than one in three expects a slump, whereas they feel a slight decrease is also a possibility. However, the individuals expecting a slight increase outweigh those who expect a decrease, with under 10% expecting things to remain the same.The short-term growth of cryptocurrency is always subject to a lot of speculation and interpretation. While it is positive to see so many people expecting things to improve – or at least remain the same – it remains to be seen whether that vision will come true. With over 55% of participants expecting the total market cap to rise throughout April, it will be interesting to see if they will be proven wrong when everything is said and done.Most expert cryptocurrency enthusiasts couldn’t care less about short-term changes, though. In this industry, it is paramount to keep the bigger picture in mind at all times. For Bitcoin and other cryptocurrencies, the overall bullish uptrend is still firmly in place, even though things may look pretty worrisome right now. Huobi’s report seems to echo that reality.Over the next six months, most investors expect to see an increase of some sort. Indeed, nearly 78% of the survey’s respondents indicated their belief that the industry’s total market cap will increase. According to the report, most people expect major growth in the total market cap over the next three years. This seems to echo predictions made by some experts earlier this year, although reaching specific targets may prove rather challenging.It is evident that the current market conditions warrant cautious optimism at best. There is still a fair amount of volatility to contend with, and it will take time until we see any major improvements in the overall market cap. Even so, when looking at the long-term outlook, there is no reason to think the bears will remain in control for much longer.
NChain chief scientist and self-proclaimed Bitcoin creator Craig Wright has received an official summons to appear in court in connection with a mammoth $10 billion lawsuit levied against him by the estate of early Bitcoin adopter Dave Kleiman. According to public documents dated March 15 and filed with the US District Court for the Southern The post Craig Wright Served with Summons for $10 Billion Lawsuit from Dave Kleiman’s Estate appeared first on CCN
A study has found that 14 percent of male Japanese office workers aged 25-30 are hodling cryptocurrencies despite market trends seeing prices taking a tumble. Even though the price of bitcoin has fallen below the $7,000 mark again to $6,935, amid trade war fears between China and the U.S., that doesn’t appear to be deterring some male office workers in Japan from investing in the market. So much so that a report suggests that 90 percent of the 4,374 participants surveyed nationwide last month indicated that owned digital currencies for investment purposes. Interestingly, instead of looking to stocks and bonds the younger generation are becoming more inclined to put their money into cryptocurrencies as a new means of investment. The survey further found that those holding 50,000 yen, or $469, accounted for the largest percentage at nearly 25 percent. However, those who own more than one million yen, or $9,400, was down at 10.2 percent. Notably, during a time of bitcoin’s surge in value last year from October to December, this period accounted for the highest percentage purchase at 24.3 percent among 25 and 30-year-olds, the survey found. For first time buyers, 15 percent of respondents indicated that they purchased cryptocurrencies after market prices had dropped following the hack at Tokyo-based crypto exchange CoinCheck. For many, however, regardless of what’s going on with the market at present, they still believe in the merits of holding on to their assets. The first three months of the year have seen bitcoin producing its worst quarter ever. Yet, while the industry may give the appearance of being all doom and gloom at present, the future reigns bright according to some experts. Earlier today it was reported by NewsBTC that Brian Kelly of Brian Kelly Capital, and a contributor to CNBC’s ‘Fast Money,’ explained that the digital currency has experienced bad first quarters in the past; however, it typically performs better in the second. Another merit to consider is the fact that bitcoin has processed $6 trillion worth transactions across its network to date as it continues to gather mainstream pace and evolve into a global currency. Just under $10 billion is being processed on a daily basis. According to Josiah Hernandez who charted the information, he said via Twitter today that ‘anyone doubting bitcoin’s role as a medium of exchange is clearly not looking at the data.’ Not only that, but with bitcoin adoption strong in Japan and South Korea, with retailers and e-commerce providers accepting bitcoin as a means of payment, it is demonstrating the steady movement that the cryptocurrency is making into the real world. It may not be a global currency at present, but it’s certainly pulling out all the stops to become one. The post Survey: 14% of 25-30-Year-Old Japanese Male Office Workers Own Cryptocurrencies appeared first on NewsBTC.
Ninety percent of companies conducting initial coin offerings are expected to fail in the future. The often-cited statistic is no doubt intimidating to an investor in blockchain and cryptocurrency startups. Knowing why crypto projects will fail can help you invest your money more wisely in the crypto economy. At this early stage, the majority of crypto failures are related to scams and hacking. As ICO startups move from concept into the commercial mode, more will fail owing to the lack of a viable business model. A major undoing will be the failure to develop a sustainable business model, according to Ethereum co-founder and crypto-economics expert Vitalik Buterin. In the ICO fervor, many startups have forgotten the underlying philosophy of the crypto economy— to create a new form of economic power. Whether booking a holiday or a cargo shipment on a blockchain platform, a token economy should increase your ownership through incentives and rewards. By reinforcing participation in the internal economy, these tokens are key to creating sustainable demand, and thus productive value in the token. Yet like in the gaming world, some reinforcement systems are duds and fail to keep us captivated. Which token economies will be the next World of Warcraft? A productive (versus speculative) tokenized economy should: Spread Economic Power –Companies that spread economic power are more likely to outperform the market, if the history of the corporate world is any guide. Spreading economic power is more than a social philosophy. It’s good business. Companies with a higher percentage of employee ownership enjoy higher productivity, profits, and stock prices. A key difference is crypto economies apply blockchain and cryptographic technology to decentralize and distribute ownership control. Create Utility Value in Tokens — In economic power, however, not all tokens are the same. Over $3 billion in crypto tokens were issued in 2017. The level of potential economic ownership and incentive mechanisms vary greatly across these crypto startups. The basic functions of a token are to provide access to a platform, serve as escrow, provide a unit of payment, and distribute profits. Well-designed models use tokens in incentive and reward mechanisms that create sustainable demand within the ecosystem. Increase Ownership Through Rewards and Incentives — A basic value proposition of all coins is the potential token appreciation created by increasing the number of participants and activity on the platform. Theoretically, economic rewards are at the core of the crypto economy. Bitcoin is minted in blocks by miners who donate computing power and electricity in exchange for rewards. However, in the productive economy, Bitcoin has little utility today. The cryptocurrency is primarily used for speculation. Tokens being issued in ICOs, in contrast, are primarily utility tokens used as the platform currency. In the crypto economy, in which users and investors are often, but not always, the same individuals, incentives create a virtuous investment cycle. Take, for example, Skycoin. Its peer-to-peer free internet service, Skywire, incentivizes users to share internet services. In exchange for forwarding traffic and sharing internet bandwidth, users are rewarded in SKY coin. Crucially, Skycoin has extended economic ownership to its platform development. Apply Decentralized Development — Another important feature identified by Buterin yet often overlooked when assessing ICOs. Skycoin’s network has been developed by 80 software engineers working cooperatively over the Github. The pooled know-how has helped the free internet service leapfrog to a third generation cryptocurrency with unique features to preserve currency value. The Skycoin network—consisting of SkyWire, Skycoin and the Skycoin Ledger—runs on its own blockchain and cryptocurrency. How to Get SkycoinUnlike many completed ICOs, which endeavors to meet their maximum token issuance during the ICO, Skycoin is still available for sale. To beat inflation and deter speculation, the remaining 70 percent of the coin reserves is being distributed at a rate of 5 percent a year over 14 years. If possible, try out a startup platform before investing in an ICO. If you are not incentivized to stay on the platform and exchange and create tokenized value, the business may not be around for long. The post Skycoin’s Free Internet Service Rewards and Empowers Netizens for Sharing appeared first on NewsBTC.
This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Fake news might start online, but it can have serious offline consequences for businesses, individuals and communities. While social networks have to tackle the problem of misleading or The post Crowdsourced Safety App Vizsafe Uses Blockchain to Reward Users for Doing Good appeared first on CCN