Crypto in March – a Simple Overview

Below you can find an overview of what happened in March in the world of cryptocurrencies – brought to you by SimpleFX CFDs trading platform. Whether you took some time off following the news and you’d like to catch up, or you just want to go over last month’s highlights, this article is for you. As revealed by the documents that are said to have come from Edward Snowden, NSA is allegedly running surveillance programs aimed at identifying bitcoin users. This is actually not surprising as it’s consistent with the concerns about cryptocurrencies being used for financing terrorism voiced by Steven Mnuchin and some US lawmakers. In a similar vein, the Office of Foreign Assets Control, a US agency responsible for the country’s foreign economic sanctions, announced that it’s planning to add cryptocurrency addresses as another type of identifiers to its list of entities that US companies cannot do business with. Twitter banned many accounts as a result of a spike in the number of copycat profiles scamming users to transfer cryptocurrencies. Unfortunately, some of the legitimate ones were also caught in the crossfire. Following that, the platform introduced a policy banning ICOs and token sales ads. It will be interesting to see if the ban is going to include cryptocurrencies as such. In light of a recent comment by Twitter CEO, Jack Dorsey, that bitcoin will become more important than US dollar as well as his own involvement in the crypto sector, there may be hope for some leniency. It seems that the cryptocurrency sector has reached a point when balanced regulations would be most welcome and actually beneficial to legitimate businesses. Currently, there have been many instances of different kinds of scams, which caused reactions from the authorities. However, as governments have little experience with cryptocurrencies and no clear legal frameworks, they are in the dark. Hence, their actions might be at times disproportionate and hurting legitimate companies. The same situation is with companies such as Facebook, Google, and MailChimp blocking cryptocurrency content, which might actually slow down the development of DLT innovation. Last but not least, March was also the month when another edition of Cryptocurrency World Expo took place, this time in Germany. We are happy to say that SimpleFX received the award for Best Cryptocurrency Trading Platform 2018, the second year in a row. The post Crypto in March – a Simple Overview appeared first on NewsBTC.

Cardano Prices Keeps Dropping as $0.15 Support is Obliterated

Cryptocurrencies are always evolving, albeit not necessarily in the direction people would hope. In the case of the Cardano price, the momentum earlier this week has completely evaporated, as the value is plummeting once again. With a 5.92% decline in the past 24 hours, the cryptocurrency markets remain extremely volatile with little improvements in sight. Cardano Price Struggle is Very Real As one may have noticed by looking at the cryptocurrency price charts these past few months, the overall momentum is anything but positive right now. It seems a fair few market makers are intent on keeping all prices as low as possible, even though they will not necessarily benefit from this pressure. In fact, it has become more than apparent any small uptrend will be dumped through immediately. For the Cardano price, this means the going only gets tougher as more time progresses. More specifically, we see the Cardano price lose even more value in these past few days compared to the weeks and prior. As of right now, we are looking at a value of just over $0.14, which is a fair bit lower compared to the all-time high of $1.28. It also appears Cardano continues to lose value compared to Bitcoin, which only further compounds these problems as of right now.With the Bitcoin price also on the decline, there is little to no room for upward momentum for the Cardano price. Racine $0.2 seems almost completely out of the question right now, and it is likelier we will see the value drop to $0.1 in the coming days and weeks. Even the trading volume for Cardano so far from where it is supposed to be. As of right now, Cadano notes a rather poor trading volume of just $90.1m, which is next to nothing for a cryptocurrency in the top 10 ranked by market cap. Unfortunately, all currencies still suffer from a decline in overall volume, and that trend is not improving, by the look of things. With a South Korean exchange leading in terms of trading volume, it is evident the rest of the world is not looking at buying cryptocurrencies like Cardano right now. Instead, we see only two platforms generating over $10m in trading volume these past 24 hours. Upbit represents over half of all ADA trades, whereas Binance takes care of another 22.47%. The third exchange is Bittrex, followed by another Upbit trading pair. All of this goes to show the upcoming weekend may effectively be one of the worst for all cryptocurrencies. Considering we had a small uptrend earlier this week, it seems highly unlikely something like that will happen again in the next two days. For Cardano price watchers, it may be best to not look at the charts too closely for the foreseeable future, as this bumpy ride is far from over.

Chilean Cryptocurrency Exchanges See Banking Blockade with Shuttered Accounts

Three Chilean cryptocurrency exchanges, BUDA, Crypto MKT, and Orionx, are about to lose banking services as BancoEstado, the last bank supporting cryptocurrency exchanges in Chile, has announced it’s closing the trading platforms’ accounts. According to local news outlet El Mercurio, the financial institution decided to, for now, “not operate with companies that are dedicated to The post Chilean Cryptocurrency Exchanges See Banking Blockade with Shuttered Accounts appeared first on CCN

Facebook wiped Zuckerberg’s conversations from people’s inboxes

Facebook recently paid for full-page newspaper adverts claiming that it had a "responsibility to protect your information," adding that if it couldn't, it didn't "deserve it." It is, therefore, slightly unfortunate that just weeks later, the site has...

Don’t Believe the FUD, India Has Not Banned Cryptocurrency

Though the internet is awash with FUD today that India has banned cryptocurrency in the country that is not the case. The RBI has released a statement outlining new bank regulations. India has Not Banned Cryptocurrency The truth is that the Reserve Bank of India (RBI) released a statement that bars regulated financial institutions from dealing with cryptocurrencies. Those banks and institutions which already have dealings in cryptocurrency will have to sever ties within a time period as yet unspecified. The official statement reads thusly, “It has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs. Regulated entities which already provide such services shall exit the relationship within a specified time. A circular in this regard is being issued separately,” It should be pointed out that this is only a single paragraph of a 16 section press release by Chief General Manager Jose Kattoor that deals with many aspects of the current financial situation in India including one that proposes the possibility of the RBI developing its own digital currency. The takeaway from the statement is that banks are not allowed to deal with or facilitate dealings with or in cryptocurrency. Which essentially causes no change on the ground as no banks in the country provide cryptocurrencies and no exchanges have official partnerships with banks either. NewsBTC has been reporting on the build-up of regulatory concern in India that commenced with the terrific rise and fall of cryptocurrency prices at the change of the year. Each new report or shift in position has been moving towards this statement. Like China, India is Exploring it Own Digital Money In fact, the statement and regulatory stance is almost exactly that of its close neighbor China. The Indian statement refers to protecting its citizenry against fraudulent practices associated with digital assets, curbing money laundering and potential terrorist funding just as its counterpart from the bank of China did. Continuing the parody the RBI statement also has a section outlining an official digital currency based on blockchain technology that could be implemented in the near future which would provide the ease of use of cryptocurrency like Bitcoin but still be regulated by the central bank and so, therefore, offering the same limitations as the current fiat. The move has caused ripples of apprehension and anger throughout the Indian Cryptocurrency environment. Maybe best summed up in this statement by Sathvik Vishwanath, co-founder of Unocoin, a virtual currency exchange “I don’t believe this is the right direction that the central bank has taken. This will cause panic among a few million people in India who are already using cryptocurrencies. If they want to launch their own digital currencies, they don’t need to ban existing ones.” The post Don’t Believe the FUD, India Has Not Banned Cryptocurrency appeared first on NewsBTC.

Ripple Price Technical Analysis – XRP/USD Consolidating Above $0.4700

Key Highlights Ripple price remained in a tiny range and managed to hold the $0.4700 support against the US dollar. There is a short-term connecting bullish trend line forming with support at $0.4800 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair has to move above the $0.5000 resistance level to gain upside momentum in the near term. Ripple price is under a lot of pressure against the US Dollar and Bitcoin. XRP/USD must stay above the $0.4700 support to avoid any further losses in the near term. Ripple Price Range There was no recovery during the past few sessions above $0.5000 in Ripple price against the US Dollar. There were mostly bearish moves below the $0.5000 resistance and the 100 hourly simple moving average. On the positive note, the price managed to hold a major support area near $0.4700. At the moment, the price is consolidating losses above the $0.4800 and $0.4700 support levels. The recent low was formed at $0.4754 before the price started trading in a range. It moved slightly higher and tested the 23.6% Fib retracement level of the last drop from the $0.5540 high to $0.4754 low. However, the most important barrier for a recovery sits near the $0.5000 resistance and the 100 hourly simple moving average. Moreover, the 38.2% Fib retracement level of the last drop from the $0.5540 high to $0.4754 low is at $0.5050. Therefore, the price may perhaps face a strong resistance near the $0.5000-0.5050 area. On the downside, there is a short-term connecting bullish trend line forming with support at $0.4800 on the hourly chart of the XRP/USD pair. The pair must stay above the $0.4700 and $0.4800 support levels to avoid further downsides in the near term. Looking at the technical indicators: Hourly MACD – The MACD for XRP/USD is slowly moving in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is flat near the 45 level. Major Support Level – $0.4700 Major Resistance Level – $0.5000 Charts courtesy – Trading View The post Ripple Price Technical Analysis – XRP/USD Consolidating Above $0.4700 appeared first on NewsBTC.

The Morning After: Virgin Galactic and Fleetwood Mac

Hey, good morning! You look fabulous. It's Friday, and we've got some bad news about the Mac Pro. If you need a pick me up, though, we have recommendations, including a neat VR animated short and a surprising result for Fleetwood Mac.

Crypto exchange Coincheck, still recovering from $400M hack, sold to online brokerage

Japanese crypto exchange Coincheck, made famously after hackers made off with more than $400 million in digital token NEM, has been acquired. The company announced today (in Japanese) that Tokyo-based online brokerage Monex Group will buy it in full. The transaction will see Coincheck become a wholly owned subsidiary of Monex. The deal is a reaction of the NEM hack, with Coincheck recognizing that it needs to strengthen its management system and organization as a whole. That’s in direct response to Japan’s Financial Services Agency, which requested that the exchange make changes in the wake of the January hack — which saw Coincheck reimburse affected users. Japan is the world’s first market to regulate cryptocurrencies, and the country has given its approval to over 26 exchanges that operate there, both locally and international. The Coincheck incident seems to serve as a wakeup call, however, and authorities clamped down on six others who were told to beef up their organizations to prevent more scandals or security issues. Added that, a number of regulated exchanges have announced plans to team up to create a self-regulatory body to add further scrutiny. Editor’s note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

ChronoBase Plans to Secure Your Luxury Watch with Blockchain Technology

Luxury watches are becoming extremely popular around the world. This popularity does not only depend on the quality, craftsmanship, and reliability of the watches but also acts as a reaffirmation of the owner’s status in the society portraying the person’s preferred style and taste. The accessories are also a statement of inclusivity and acts as solid long-term investments that offer steady returns from future valuations. According to the recent edition of marketing principles, luxury watches fall into the category of special consumer products characterized by unique characteristics and brand identification for which a significant group of buyers are willing to make a special purchase effort. Buyers in this segment usually have a strong brand preference and loyalty while the manufacturers go to great lengths to have an exclusive distribution network in few outlets per market area with a more carefully targeted promotion by both manufacturers and resellers. However, the growing popularity has also resulted in the appearance and expansion of the black market for stolen watches. Even though all timepieces are created with a unique identification number that authenticates product genuineness, they are stored in the respective manufacturers’ databases with no way of them interacting with each other. In the absence of a single unified database, the ownership history of these expensive devices goes unrecorded with no easy of verifying whether a particular watch is genuine or not. About ChronoBase ChronoBase is working on creating a unified market ecosystem to counter the growing black market by leveraging blockchain technology. The ecosystem will include luxury watch owners, dealers and manufacturers. The ChronoBase ecosystem is designed to be operated on a global scale, storing watch profiles with their current status, be it stolen or lost along with any other events tied to the watch as well as their provenance and service history. As time progresses, ChronoBase will gradually become a reliable decentralized database where users can find information related to thousands of luxury watches. The entire lifecycle of a timepiece is recorded on a blockchain. This allows the owners to retain the true value of their watches in a secure marketplace. The ChronoBase marketplace will become the building block of the entire ecosystem. Here, watch owners will be able to retain their collection and offer any of their timepieces for sale. ChronoBase will issue a digital certificate which will protect customers from fakes and assist them to keep track of their possessions. The ecosystem will also provide escrow services to make it possible to safely buy and sell luxury watches around the world. The entire operation is done without the need for intermediaries to improve watch prices for any interested buyer. Who needs ChronoBase? For the watch owner, information provided on watch provenance will improve the resale value. So, the earlier the watch enters the database the more valuable its provenance record becomes afterward. For the manufacturer, ChronoBase ecosystem provides a solution to a range of problems including unauthorized stock movement and re-export by a dealer. The ecosystem will provide manufacturers with necessary business tools to reach out to their clients easily. For insurance companies, the ecosystem can be used as a tool to counter insurance fraud, since ChronoBase offers instant verification for insurance purposes, including the service history and date of initial sale, without compromising the privacy of the owners. Other clients include pawn-brokers and their customers, and service companies. Ecosystem functionality and token highlights. The ChronoBase ecosystem will be web-based. The web portal is the unified point of access to all the platform features. This data will also be accessible through a mobile application for their client’s convenience. The fully functioning platform, which provides basic functionality, has been developed and available for use. Users can add new watches, manufacturers can perform a bulk upload of their inventory, add information on service events, ownership transfer and verification, sale offers and reports on loss or theft. ChronoBase token (BASE) is the utility token used to power the ChronoBase platform, facilitate the purchase of platform’s services and make transactional payments. BASE tokens are ERC20 compliant and based on the Ethereum Blockchain. Total token supply is fixed, and BASE tokens are not mineable. The Bonus token pre-sale went live on March 27, 2018 and will go on till April 5, 2018. It will be followed by the token sale, starting April 11 until June 5, 2018. Final Thoughts. ChronoBase is the first project to offer a unified decentralized database for luxury watches with full ownership history and easily accessible via mobile apps. In the future, the ecosystem aims to grow into the marketplace for buying and selling watches around the world backed by verified watch ownership history. The ecosystem will become the first escrow service platform dedicated to luxury watches, based on smart contracts. ChronoBase can be used by all parties in the market for luxury watches thereby elevating it as a global project and a solid long-term investment to timepiece enthusiasts and many more. Join Token Sale at – https://tokensale.chronobase.io/ The post ChronoBase Plans to Secure Your Luxury Watch with Blockchain Technology appeared first on NewsBTC.

Ethereum App KittyRace Lets CryptoKitties Race Each Other for a Prize

A new Ethereum game is taking advantage of the success the wildly-popular CryptoKitties app had. The new game, called KittyRace, sees the digital cats race against each other for an Ethereum prize. KittyRace essentially allows digital cat hodlers to enter their pets in a race against others’ pets, for an entry fee. As with CryptoKitties, The post Ethereum App KittyRace Lets CryptoKitties Race Each Other for a Prize appeared first on CCN