Archives for December 4, 2017
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Remember that dude from 2013 who accidentally threw away his hard drive full of Bitcoin? Well, he’s back hitting headlines again as the recent surge in BTC price has encouraged him to restart his treasure hunt. He’s prepared to get his hands pretty dirty too… by digging up a landfill site.
James Howells from Newport, Wales was an early cryptocurrency miner. He started back in 2009 and had amassed some 7,500BTC by solving the complex equations used to secure the Bitcoin network. During a big cleanup of his home in 2013, the hard drive upon which he’d stored his private keys got mistakenly thrown out. The value of the cryptocurrency stored on it at the time was then several hundred thousand dollars. That was when Bitcoin was trading at around $130 a coin.
Today, with the price of Bitcoin being almost hundred times the 2013 figure, the hard drive is worth $85 million. It’s therefore hardly surprising that the Newport-based IT worker is keen to be reunited with his stash. He’s now considering having the landfill excavated. This, of course, is no small job. Howells explained to The Independent:
A modern landfill is a complex engineering project and digging one up brings up all sorts of environmental issues such as dangerous gasses and potential landfill fires… It’s a big, expensive and risky project.
Howells had stopped mining long before Bitcoin started to grab headlines in quite the way it did during late 2013. He’d sold most of the components of the computer he’d used on eBay but was savvy enough to make sure he kept the hard drive containing his private keys. Unfortunately, during a clear-out, he believes that this ended up being put in a general waste bin at a local landfill site. This will then have been emptied onto the tip and will since have been buried by many tons of junk. Howells blames “family life and moving house” for the mishap.
Whilst it’s certainly the largest case of lost Bitcoins known about today, Howells’ tale isn’t the only example of such a colossal mistake. A similar story comes from the editor of Gizmodo Australia, Campbell Simpson, who threw around 1,400 BTC away back in 2012. When he’d originally bought the Bitcoin, they’d only cost him $25 AUD. Today, buying such a quantity of the cryptocurrency would set you back almost $16 million.
However, the largest cache of lost Bitcoin might be those of their original creator themselves. Recent research from the blockchain data-crunchers at Chainalysis hints that the one million Bitcoin reserved for Satoshi Nakamoto will most likely never enter the wider market. It’s believed that these are spread out over many thousands of wallets and their owner has either lost the private keys, or has since been killed. If the person or people behind Bitcoin are still alive, they’re either the dictionary definition of the perfect “hodler”, or kicking themselves much harder than either Campbell Simpson or James Howells.
The post James Howells Considers Digging Up a Landfill to Find Lost Bitcoin appeared first on NEWSBTC.
Bitfinex has hired white-shoe law firm Steptoe & Johnson and said it may sue a pseudonymous blogger who has accused the bitcoin exchange of fraud.
A New York businessman charged with defrauding investors in two initial coin offerings (ICOs) plead not guilty in court last week.
The post Winklevoss Twins: The First Verified Billionaire Bitcoin Holders? appeared first on CryptoCoinsNews.
Since its rapid ascent from $8 to the $400s, ether has seen a fair amount of volatility. Over the last few weeks, there has been a surge in volume as it pushed out of its multi-month trading range:
Figure 1: ETH-USD, 12-Hour Candles, Macro Trend
The several months ether spent consolidating appears to have formed a macro Reaccumulation Phase that led to a breakout of the trading range on strong volume; ultimately yielding our current market position in the $450s.
A Reaccumulation Phase is a pause after a strong uptrend that attempts to shake out weak shareholders as the market consolidates toward the stronger holders of a given commodity. A Reaccumulation Phase is intended to torture the weak holders of a commodity into ultimately relinquishing their market share to the stronger market players, before a strong, upward continuation of the previous trend kicks back in.
Some of the characteristics of a Reaccumulation Phase include strong buyback on the dips with high volume and wide candle spread:
Figure 2: ETH-USD, 12 HR Candles, Volume and Price Movement
When analyzing trading ranges, it is paramount to contextualize the price movement and the volume. Doing so reveals the intent of the larger market players and will help give traders insight into the potential strength (or weakness) of their investments. Throughout the length of the trading range, it is common to see several tests of both the upper and lower boundaries (the blue horizontal lines).
One key trait we are looking for when identifying a Reaccumulation Phase is the increase in volume as the stock (or coin in our case) begins to rally toward the latter end of the trading range:
Figure 3: ETH-USD, 12 Hour Candles, Trading Range Breakout
Although the current market trend is somewhat consolidating in these higher price levels, it is a very bullish sign that we have broken out of the trading range and done so on increasing volume. This trend shows that the market is now dominated by demand and all the free-floating supply has been absorbed. As the market begins to test new highs, wait for volume to increase to confirm strength in the upward direction.
ETH-USD broke out of a potential, multi-month reaccumulation phase.
Increasing volume on the move out of the trading range gives us confidence in a bullish continuation.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
The post Ether Price Analysis: Potential Reaccumulation Phase Could Push Stronger Highs appeared first on Bitcoin Magazine.
Over the past few months, there has been a huge surge in blockchain startups trying to revolutionize the way we live our lives – from changing the way we play games and use social media, to the way we work and structure our careers.
Now we’re about to witness the launch of something completely new – and it could completely transform the way the long-term rental system works.
The Issues with Long-Term Rentals
Right now there are more people renting than any time since 1965. Combine this with the fact that the number of US households grew by 7.6 million over the past decade, and we have more people renting than ever before.
The problem is, renting comes with some significant drawbacks for both tenants and landlords.
The process of renting is long and arduous. Unresolved maintenance requests, long and arduous application processes, and missed rent payments are common. In popular areas, high-security deposits are common. For many, these are unaffordable and thus lock tenants out of potential housing opportunities, leaving them with a little option about where to live.
Not to mention, many of the rental platforms available today are vastly outdated. Many listings are merely simple classified ads that provide a very limited experience and little value. Often, the information in rental listings does not accurately reflect the property.
Most notably perhaps, is the fact that there are billions of dollars frozen in rental security deposits worldwide belonging to people who desperately need access to this money and can’t afford to have their access blocked.
Solving the Problem
One startup that is already taking steps towards revolutionizing the entire process is Rentberry – the long-term apartment rental platform.
The US-based startup has an extensive list of thousands of houses and apartments for tenants to choose from. It’s available in several different states all across the US and is designed to standardize the apartment rental industry across all states in America.
It provides a completely transparent application process that allows all prospective tenants to negotiate their rental offers with landlords. Tenants can now customize their offers based on their surrounding competition. It is hoped that this change will enable tenants to rent long-term at a fair and accurate price.
The platform has already established itself in the US and has been running smoothly since 2015. But now the team behind Rentberry are pushing to take it yet another step further through the use of blockchain technology.
There is Currently Over $500 Billion USD Locked Away in Rental Security Deposits
The addition of blockchain to this fast-growing platform is designed to increase the social-mindedness of the community.
There is over $500 billion USD currently locked away in rental security deposits, rendering it completely inaccessible to those who need it the most. Rentberry plans to solve this problem.
The platform update now presents tenants with the option of paying only 10% of their security deposit. They can then utilize Rentberry’s community to crowdsource the rest of what they need. In return for their assistance, the community will receive interest from the tenant as a reward.
For example, if a tenant is required to raise $3,000 for a security deposit, they will now have the option of instead only having to raise an upfront payment of $300 and paying an estimated $7 per month to the community members who backed them to raise the remaining $2,700.
Investors are backing the idea with force. They have already provided the team with $4 million USD in seed funding.
As the platform takes off, the team behind Rentberry have plans to incorporate even more new features in the future. This includes an option that will allow tenants to pay their utility bills online along with their rent, and also a scoring system for both tenants and landlords.
The Rentberry team also have plans to expand the platform to become available in Europe and Asia in the near future.
Rentberry’s public ICO commences on the 5th December 2017. There will be a fixed limit of 30,000,000 BERRY tokens, created, which users can purchase with ETH. 1 ETH is equivalent to 2,500 BERRY tokens. The sale will run until 28th February 2017.
Image Credit: DepositPhotos
The post Long-Term Renting is Changing…and It Could Revolutionize the Way We Live appeared first on NEWSBTC.
A unique and promising ICO in December. December 5th marks the start of an ICO by Ntok.io – a global decentralized learning ecosystem based on the interaction of tutors and students through an online platform using smart contracts.
The distinguishing feature of Ntok.io is that the platform makes it easy to move from the offline world, where the student must not only agree with the tutor on the lesson but also visit them in a specific place at a specific time, to an online platform without intermediaries. In other words, students can find a tutor in any subject with literally a couple of clicks and can take lessons from them at any time and in any place, with no geographical restrictions, time zones, or travel time to worry about.
“Our advantages include reliable teacher ratings built on blockchain. Thanks to this, students can be confident that there’s no option tutors’ ratings would be a fake. It is a qualitative increase in the level of trust and reliability of the service, which means a powerful competitive advantage over other online schools,” says Maxim Shekhovtsov, CFO and co-founder of Ntok.io. “It’s vital that we work without middlemen. In traditional schools a teacher receives perhaps $7 out of $20 payed per lesson, while a school keeps the rest. We paved a way to step higher efficiency: we don’t rent a classroom space, our platform has no sales managers, administrators, etc. That’s why we’re good with taking only a tiny commission, while students save money.”
The main means of payment and obtaining advantages in the platform will be NTOK tokens – all lesson payments will be made in these tokens exclusively. The cost of services on the platform will be set by the participants themselves, and thus, when the exchange rate for tokens rises, prices denominated in tokens will fall, but in fiat terms they will remain at the market level.
“We will make it possible pay in fiat money, because we realize that this may be necessary in a conservative community of students and teachers,” explains Mr. Shekhovtsov. “However, we will charge a small premium of 10% for doing so, but at the same time we will provide all participants with instructions on how to buy our tokens and avoid paying this premium.”
In addition to paying for the study sessions themselves, holders of NTOK tokens will also be able to use them to purchase additional educational content and equipment from the Ntok.io partners. Special privileges will also be available for holders of a large balance of tokens. For example, teachers will be able to additionally move up in the search results and gain a larger number of students, while students will have an opportunity to receive a 50% discount on the company’s commission and thus save a dollar on each lesson.
It is on the fixed commission that the project plans to make money: it will be only $2 per lesson in NTOK tokens. Part of the tokens will go to the platform’s operating costs, while the remainder of the commission will “burn up”.
The Pre-Sale of NTOK tokens start December 5th, with special terms for bulk purchasers, the entry threshold will be $25,000 and up. Purchasers will receive a 50% bonus. From January 15th, 2018 the ICO will proceed with no entry threshold. The ICO will then continue on until February 15, 2018. Market experts forecast that something on the order of $15 million will be collected during the ICO.
Ntok.io is not the only player in the field of online education; such platforms as Duolingo, Varsity Tutors and iTutorGroup operate along with it. However, the founders of Ntok.io say that their key competitor is in fact the offline market, where 95% of all teachers and tutors are currently concentrated. Ntok.io wants to fundamentally alter the existing situation and stimulate a mass migration of teachers and students to working online. Experts estimate that in the next few years the online segment of the tutor’s market will grow to account for at least 70% of the market.
To make these plans a reality, Ntok.io has the most important advantage: a very strong team, with enormous experience not just in the EdTech field (for example, the launch of the Tutor Ninja online school to study English online, which is successfully operating and developing), but also online-retail, media, iOT, artificial intelligence and robot technology. The core Ntok.io team includes Andrew Kravets (CEO and co-founder), Maxim Shekhovtsov (CFO and co-founder), Natalya Asenova (Director of Marketing and Sales), and Alexey Borisov (CTO). In addition, Ntok.io has brought together a no less stellar team of consultants from among the managers of major international companies, ICOBox advisors and leading representatives of the crypto-community, experienced entrepreneurs, and founders of major Internet services such as Auto.ru, HH.ru, and KinoPoisk.
The post “A New Era in Education – Teacher Ratings Recorded in Blockchain, and Students Can Be Confident That Ratings Are Not Fake”: A New Online Education Player Launches ICO appeared first on NEWSBTC.