The largest political party in India is accusing the ruling Bharatiya Janta Party (BJP) of being involved in a bitcoin scam to launder money.
Archives for July 5, 2018
PoWx: The New Effort to Change Bitcoin (And Who’s Backing It)
Technologists unveiled a foundation dedicated to rewriting bitcoin’s underlying tech, giving the long-controversial idea new wings.
PoWx: The New Effort to Change Bitcoin (And Who’s Backing It)
Technologists unveiled a foundation dedicated to rewriting bitcoin’s underlying tech, giving the long-controversial idea new wings.
Coinbase service launch marks new era in crypto custody solutions
The launch of “institutional grade” cryptocurrency custodian services by Coinbase and others is easing the path of major investors into cryptographic assets
IBM Wins AUD $1 Billion Contract to Develop Blockchain, Tech Initiatives for Australia Govt.
Computing giant IBM has been awarded a landmark contract to develop blockchain and other digital technology initiatives for the government of Australia. Announced on Thursday, the five-year, AUD $1 billion (~USD $740 million) contract is Australia’s latest attempt to make good on its goal to become one of the world’s “top-three digital governments” by 2025
The post IBM Wins AUD $1 Billion Contract to Develop Blockchain, Tech Initiatives for Australia Govt. appeared first on CCN
IBM Wins AUD $1 Billion Contract to Develop Blockchain, Tech Initiatives for Australia Govt.
Computing giant IBM has been awarded a landmark contract to develop blockchain and other digital technology initiatives for the government of Australia. Announced on Thursday, the five-year, AUD $1 billion (~USD $740 million) contract is Australia’s latest attempt to make good on its goal to become one of the world’s “top-three digital governments” by 2025
The post IBM Wins AUD $1 Billion Contract to Develop Blockchain, Tech Initiatives for Australia Govt. appeared first on CCN
How Peter Kroll’s Paper Wallet Protects Cryptocurrency
Since its invention, a recurring question for cryptocurrency holders has been how to best secure their digital assets. This question of security carries the greatest weight when one understands the stakes of holding unprotected cryptocurrency — vulnerability to hackers.
Since 2011, software developers have kept this problem at the back of their minds. One such innovator, Peter Kroll, recently joined Rob Mitchell on Episode #56 of The Bitcoin Game to discuss the background of his ventures and the technical details of his most lauded project in cryptocurrency security.
BitAddress and the Paper Wallet
Kroll’s primary contribution to the field of crypto security has been his invention of the first paper wallet, at Bitaddress.org. Having launched the original website anonymously in 2011, he was able to hone a system of security that addresses several of the most prominent flaws of cryptocurrency security.
Kroll’s website solves several core problems in a remarkably elegant way. To begin with, the HTML code for the website itself does not need an internet connection to execute after its page has been loaded. This means someone can perform the entire process of generating a new wallet without being vulnerable to a cyberattack across the internet.
The program then adds a human-component circumvention, asking users to move their computer mice in erratic patterns, to eliminate the problem that coded systems are unable to generate truly random numbers. Using intervals decided by pseudo-random numbers and other factors, the program captures the exact pixel that the mouse cursor was on at any given moment and uses the number of this pixel to generate the hash for a bitcoin wallet.
Kroll explained that this strategy is useful because certain pieces of hardware contain exploitable flaws in their pseudo-random number generators, whereas flawed devices running the BitAddress software create hashes that are not vulnerable in the same way.
For a final piece of security, a wallet is given a QR code that can be printed out onto a piece of paper, thus keeping it offline and insulated from a cyberattack. In doing this, Kroll’s security program manufactures novel wallet addresses that are protected from several of the most common vectors of theft.
The Vision Behind the Technology
]In addition to explaining the technical details of his groundbreaking platform, Kroll also gave context to what inspired him in the cryptocurrency environment. Furthermore, he went on to outline what he believes to be some of the most salient issues surrounding the space today.
Over the course of the interview, Kroll gave a number of personal details about why he ended up working in the cryptocurrency space. He started by recollecting his earliest interactions with the world of technology development.
“When my mom brought home our first computer,” Kroll recalled, “you couldn’t really do much on it. Programming seemed the natural thing to do.”
For a 14-year-old during the dot-com boom, the costs of many specialty pieces of software were completely prohibitive. Learning to program at a young age motivated Kroll to seek opportunities when the value of software would spike next.
His experience building micropayment venues in this era, naturally, attracted him to Bitcoin. It also prepared him to quickly see the inherent flaws in its security. By creating his website so early in the space, Kroll’s platform became a significant influence in the world of cryptocurrency. It also allowed him to iron out all the kinks in the program before vast audiences adopted it.
Toward the end of the interview, Kroll began speaking about some of his future ventures, trying to similarly hammer out all of the potential quandaries in developing a diversified hedge fund for cryptoassets. In this segment, he laid out some of the core philosophical differences that led to the current status of altcoins as well as advice for how to proceed with alternative cryptocurrencies in the future.
For more podcasts and articles on these topics, visit the Let’s Talk Bitcoin Network.
This article originally appeared on Bitcoin Magazine.
Litecoin (LTC) Technical Analysis: Litecoins Bulls Are Shaky
Technically and if we can take a top-down approach, Litecoin is trending higher. However, given the events of yesterday where we saw gains clipped by as much as 10 percent down from 14 percent earlier this week, Litecoin bulls stand on a shaky ground. Because of this, it’s likely that prices may continue reversing July 2 gains and in that case I suggest take a wait and see approach.
From the News
What a time to be alive. Too much popcorn for decentralized currencies “poised to revolutionize the world”. At this rate, many are opting to have a time stamp receipt at their local grocery shop rather than using fast settling cryptocurrencies like Litecoin and even Bitcoin Cash. Well, there are many reasons why. First, the declaration by Binance that they are creating a SAFU for their users following that API keys compromise that saw the price of SYS temporarily spike to 96 BTC is not a joke. Even Charlie Lee picked it up and posted this new announcement to his followers meaning it’s a weighty issue and a joke to decentralization.
— Doge Sun Tzu (@DanyF19015410) July 4, 2018
What that mean is that going forward, they will channel 10 percent of their trading fees to this fund as a safety net in case there is an attack leading to losses. Funny enough, all this is happening within the confines of a technology that is meant to be hacker proof. It’s technically the weakness of having a centralized entity taking charge of systems that should be in theory trustless. Remember, Binance is now acting as a charity exchange and would compensate those affected using their own coin, BNB.
We don’t know yet but maybe Binance being a powerful, multi-billion Exchange might just be setting up precedence for other exchanges to follow suit. This boosts and even encourages hackers to aim for the higher jack pot because they know these exchanges would compensate those affected.
Litecoin (LTC) Technical Analysis
Weekly Chart
Obviously, Litecoin prices have been on a one way slide since testing their highs late last year. And yes, there are many theories that claim to explain this depreciation but there what we do know is that this loss won’t go on forever. In early June, LTC sellers pushed prices below $110 and the accompanying volumes and size of candlestick pointed out to a typical bear break out.
Because break outs are usually followed by a pull back, it’s likely that this week might be the beginning of a pull-back retesting $110. It may also be LTC bulls snapping back into the general trend set in pace in Q3 of 2017 more so if there is a strong break above $110 and later $130.
So, in light of this technical set up and last week’s rejection of lower lows right at main support, my suggestion is to load longs if this week ends up bullish. That would mean the completion of a three bar bull reversal pattern, The Morning Star.
Daily Chart
Complementing our assertions in the weekly chart are these nice higher highs bouncing of that double bar reversal candlestick on June 29-30 and on July 2. There we can see buyers rejecting lower prices and printing higher.
So regardless of yesterday’s lower lows, the only thing can cancel our bullish projection is if prices dip below $70. As it stands, prices are inside July 2 high lows and clearly rejecting $90. Today with might see prices adding to their losses and despite that, we shall hold a bullish view until our short trade conditions are met or until prices bolt above $90.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post Litecoin (LTC) Technical Analysis: Litecoins Bulls Are Shaky appeared first on NewsBTC.
Litecoin (LTC) Technical Analysis: Litecoins Bulls Are Shaky
Technically and if we can take a top-down approach, Litecoin is trending higher. However, given the events of yesterday where we saw gains clipped by as much as 10 percent down from 14 percent earlier this week, Litecoin bulls stand on a shaky ground. Because of this, it’s likely that prices may continue reversing July 2 gains and in that case I suggest take a wait and see approach.
From the News
What a time to be alive. Too much popcorn for decentralized currencies “poised to revolutionize the world”. At this rate, many are opting to have a time stamp receipt at their local grocery shop rather than using fast settling cryptocurrencies like Litecoin and even Bitcoin Cash. Well, there are many reasons why. First, the declaration by Binance that they are creating a SAFU for their users following that API keys compromise that saw the price of SYS temporarily spike to 96 BTC is not a joke. Even Charlie Lee picked it up and posted this new announcement to his followers meaning it’s a weighty issue and a joke to decentralization.
— Doge Sun Tzu (@DanyF19015410) July 4, 2018
What that mean is that going forward, they will channel 10 percent of their trading fees to this fund as a safety net in case there is an attack leading to losses. Funny enough, all this is happening within the confines of a technology that is meant to be hacker proof. It’s technically the weakness of having a centralized entity taking charge of systems that should be in theory trustless. Remember, Binance is now acting as a charity exchange and would compensate those affected using their own coin, BNB.
We don’t know yet but maybe Binance being a powerful, multi-billion Exchange might just be setting up precedence for other exchanges to follow suit. This boosts and even encourages hackers to aim for the higher jack pot because they know these exchanges would compensate those affected.
Litecoin (LTC) Technical Analysis
Weekly Chart
Obviously, Litecoin prices have been on a one way slide since testing their highs late last year. And yes, there are many theories that claim to explain this depreciation but there what we do know is that this loss won’t go on forever. In early June, LTC sellers pushed prices below $110 and the accompanying volumes and size of candlestick pointed out to a typical bear break out.
Because break outs are usually followed by a pull back, it’s likely that this week might be the beginning of a pull-back retesting $110. It may also be LTC bulls snapping back into the general trend set in pace in Q3 of 2017 more so if there is a strong break above $110 and later $130.
So, in light of this technical set up and last week’s rejection of lower lows right at main support, my suggestion is to load longs if this week ends up bullish. That would mean the completion of a three bar bull reversal pattern, The Morning Star.
Daily Chart
Complementing our assertions in the weekly chart are these nice higher highs bouncing of that double bar reversal candlestick on June 29-30 and on July 2. There we can see buyers rejecting lower prices and printing higher.
So regardless of yesterday’s lower lows, the only thing can cancel our bullish projection is if prices dip below $70. As it stands, prices are inside July 2 high lows and clearly rejecting $90. Today with might see prices adding to their losses and despite that, we shall hold a bullish view until our short trade conditions are met or until prices bolt above $90.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post Litecoin (LTC) Technical Analysis: Litecoins Bulls Are Shaky appeared first on NewsBTC.
EOS, Litecoin, Stellar Lumens, Tron, IOTA Technical Analysis: D.C.A, Buy Altcoins on Dips
Altcoins though swinging-are on a recovery path and none stands out like IOTA. Gains have been consistent and they continue to partner with strategic industries. As that is happening Tron SRs election is on-going and so far there haven’t been market moving news events injecting demand.
Let’s have a look at these charts:
EOS Technical Analysis
In an effect versus cause, effort versus result comparison, we can clearly see that sellers are in charge. That’s if we consider the six-month time frame since the beginning of the year. In this time frame we can clearly see that EOS has been on a down trend.
This is irrespective of the fundamental aspects that their mainnet is now live and Block Producers are busy validating transactions. In the last week though, prices have been recovering but is our buy projection really valid? Well, it depends and that’s more so if we see gains above $9 like we have been reiterating in previous analysis.
For strong buys, traders should first see gains reversing June 22 depreciation and that means valuation above $12. This applies for risk-off traders who needs confirmations. However for risk-on, aggressive type traders, buying above $9 on every dip means conservatives targets at $15 with stops at $7.
Litecoin (LTC) Technical Analysis
Overly, LTC prices are stable even in a midst of an otherwise bear trend. The events of the past weeks are bound to change this narrative especially if we see gains above $90, our immediate resistance line and lower edge buy trigger we have been emphasizing in our analysis.
Note that, despite that strong bullish candlestick of July 2, LTC is stuck in a range mode. This is normal and should not mean sells instead it could imply that there is a lower-level accumulation in progress. Mind you, the only thing that cancels this bullish projection is a dip below $70 or June 29 lows.
Stellar Lumens (XLM) Technical Analysis
Like before, July 2 strong move above 20 cents triggered our buys and we continue to be long in line with our trade plan. There are pockets of sells but buy momentum seems to outweigh that as July 3 and 4 candlesticks shows.
As it stands, we can see that prices are still moving inside July 2 bullish candlestick and so for those planning to enter, wait until there is a move above 22 cents of July 2 highs. Thereafter, you can begin to load or wait until prices gains above 25 cents to trade with the trend with stops at 18 cents and 23 cents respectively.
Tron (TRX) Technical Analysis
The execution of the Tron mainnet and election of the 27 Super Representatives have been meticulous and near-perfect to say the least. We can easily conclude that the planners of this execution and Justin Sun PR were attentive to detail, learning from EOS failings.
Their constitution is not yet out but going by how they have been handling stuff, Justin Sun would probably want it to be free of controversy especially when it comes to the power vested on their network super nodes.
On to the charts and TRX prices are stable. Of course, picking bottoms is a dangerous games and since TRX prices was literally stuck in a consolidation before that explosion in late 2017, we would take a conservative approach.
By this I mean my buy suggestion would take effect once we see up-thrusts above 5.5 cents, the upper edge of this trade range. Otherwise, for now we remain neutral even if we have those higher highs. Any break below 3.3 cents and sellers are likely to drive prices to 2.5 cents, the lower limit of the trade range.
IOTA (IOT) Technical Analysis
As we have mentioned before, IOTA user case qualifies this coin as a long term buy and what a good time to buy this coin. After bouncing off the support at 90 cents, IOTA gains have been consistent and in the last 24 hours, they are up three percent. I suggest buying at current prices with stops at 90 cents or June 29 lows and stops at $2.5.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post EOS, Litecoin, Stellar Lumens, Tron, IOTA Technical Analysis: D.C.A, Buy Altcoins on Dips appeared first on NewsBTC.
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