Mobile trading app Robinhood is rolling out candlestick charts to “better inform” users when trading or tracking cryptocurrencies and other offerings.
The price of bitcoin has remained firm in the past seven days, gaining eight percent week-on-week. This price rally has occurred despite the announcement of the Mt.Gox bankruptcy trustee that former users will now be able to file claims to recover their lost bitcoin from the defunct exchange. Given that Mt. Gox shut in 2014, account holders who lost funds…The post %%POSTLINK%% appeared first on %%BLOGLINK%%.
The Lightning Network for Bitcoin became bigger than any time in history this month as capacity reached 100 BTC ($730,000) in a new first.
Participants Break New Barriers
Data from monitoring resource 1ML confirms the milestone, which caps an extraordinary period of growth for Lightning over the summer months.
Currently, 3350 nodes and over 12,000 channels contribute to a total network capacity of 101.7 BTC.
The node count has increased 11 percent in the past 30 days, with capacity and number of channels expanding 4 percent and 7 percent respectively.
As Bitcoinist reported early last month, recent experimentation on the network has seen certain accounts markedly increase their individual capacity to process payments. July was a particularly intense period, with overall capacity shooting up 85 percent versus June.
A controversial 35 BTC node from Shitcoin.com creator Andreas Brekken had initially doubled the size of the network, only to disappear again within several weeks while other nodes filled the void.
‘Tradeoffs’ To Remain?
The overall commitment to Lightning from both developers and its stalwart node providers such as Bitrefill.com and SatoshiLabs continues to highlight industry belief in the scaling solution.
Nonetheless, in its current form, Lightning is anything but perfect or user-friendly; transactions worth more than 3 US cent are overwhelmingly likely to fail altogether.
Speaking to Bitcoinist in August, Bitrefill CEO Sergej Kotliar appeared to be under no illusions.
“Lightning definitely has tradeoffs[;…] I don’t think it’s the entire solution of all the scaling problems forever,” he said.
User activity is there, Kotliar adding Bitrefill’s 4.8 BTC node had seen zero bitcoin from the company itself; rather, it was users making payments.
Last week meanwhile, the latest Lightning-enabled product to hit the ecosystem surfaced in the form of Spark’s offline wallet which uses c-Lightning to facilitate the sending and receiving of Bitcoin.
What do you think about Lightning Network growth? Let us know in the comments below!
Images courtesy of Shutterstock.
The post At 100 BTC And 12k Channels, The Lightning Network is Larger Than Ever appeared first on Bitcoinist.com.
Minted.one, a new mobile app, will provide users with a one-click interface that allows them to create their own personalized crypto tokens.
According to the project’s blog:
“Minted.one is an attempt, a social experiment, to see if we can capture the power of you, and express it into your very own cryptocurrency in this new Internet era.”
Who Wants Tokens?
It is difficult for most people to create a token—not just technically, but also competitively. Altcoins and minor tokens are arguably an unviable market. A vast amount of tokens are doomed to fail, and some have declared the ICO boom officially over.
But Minted.one is taking quite a novel approach, and members of the Ethereum subreddit are showing enthusiasm for the project. According to one Redditor, knight2017:
“Currently the misconception is that tokens need to be project/ICO related. This is really not [true]. I think daily/one time use of throw away tokens is really the killer app…ie. If some one wants to host an event with exlusive guests you can just issue a token to distribute to the guests. Or bands with showcases or memberships of any kinds [or] clubs.”
It may be refreshing to see crypto tokens that are immediately useful and don’t involve raising funds for a long-term business plan. After all, one of the tenets of crypto is the idea that it can be circulated freely and easily. Minted.one may encourage token circulation between people who aren’t serious crypto investors.
However, it’s not clear how Minted.one will mesh with existing regulations around ICOs and securities. In theory, a limited-use token that is essentially a coupon or festival pass wouldn’t fall under current regulations, but Minted.one could potentially be used to create a full-fledged ICO.
Not Without Competition
Ethereum itself allows the creation of tokens, and Minted.one simply streamlines the process. As such, other developers have had similar ideas: Fondu likewise allows users to create Ethereum tokens and smart contracts. Etherparty Rocket also enables users to create crowdsales. However, Fondu is a hobbyist project (simply a web form that generates a shell script) and Rocket is aimed at businesses rather than individual users.
Minted.one is a more polished mobile app and is quite actively seeking adoption, which could enable it to go mainstream. The project is accepting applications for early access, and the app will be available on Google Play and the Apple Store.
The post You On the Blockchain: Minted.One Will Create Personalized Tokens and Collectibles on Ethereum appeared first on UNHASHED.
Bitcoin price briefly broke above $7000 August 28, hitting a new high of $7051 on major exchanges – its highest since August 7.
ETF Fever Decouples From Bitcoin Price
Data from Bitcointicker and other sources confirm the multi-week highs for Bitcoin 00, which curiously come on the back of multiple rejections of exchange-traded fund applications by US regulators last week.
At press time, a correction saw BTC/USD fall below the $7000 barrier again just minutes after peaking to currently trade around $6995, followed by a fresh uptick towards $7005.
As Bitcoinist reported in our most recent price analysis August 26, markets suggested $7000 would be a difficult hurdle to overcome.
Despite the US Securities and Exchange Commission denying entry to the market for a slew of Bitcoin ETFs, however, unlike in previous instances, prices failed to react beyond an insignificant – and temporary – downturn by several hundred dollars.
Now, attention is focusing on the fact that such decisions are not so important for Bitcoin’s long-term metamorphosis.
In weekly comments to clients Monday, eToro senior market analyst Mati Greenspan encapsulated current thought, describing ETFs as something “not necessarily a defining moment for crypto” but which “could potentially help put a bottom on prices.”
Holiday Season Over?
Beyond price, Bitcoin’s trading behavior has also strongly improved over the past week. Data from Coinmarketcap shows an especially dramatic increase in trade volumes, which increased almost 30 percent in 24 hours.
Overall trade volumes across cryptocurrency markets have likewise risen by over 30 percent in the last week, from around $8 billion to around $12 billion per day.
Bitcoin has succeeded in retaining market dominance above 50 percent.
It’s almost like people have come back from their holidays#bitcoin
— Alistair Milne (@alistairmilne) August 28, 2018
As commentators scrabbled to find a motivating factor behind Bitcoin’s unexpected rise, entrepreneur and investor Alistair Milne meanwhile kept the verdict simple.
“It’s almost like people have come back from their holidays,” he commented on Twitter.
What do you think about Bitcoin breaking above $7000? Let us know in the comments below!
Images courtesy of Shutterstock, Twitter, bitcointicker.co
The post Bitcoin Price Breaks $7000 Resistance To Hit Surprise Multi-Week High appeared first on Bitcoinist.com.
Alibaba payments affiliate Ant Financial is poised to launch a blockchain platform next month, alongside an application that tracks rice shipments.
While crypto prices may have ostensibly kicked the bucket, there are some optimists who have done their best to disregard prices, focusing on the adoption and development of this space instead.
Charlie Lee: Long-Term Price Of A Crypto Indicates Levels of Success
Ever since Bitcoin’s mind-boggling run, from $1,000 to $20,000 and subsequent decline, CNBC’s “Fast Money” show has taken an interest in crypto. While CNBC’s coverage of the crypto market often focuses on short-term price action, predictions, and the like, the founder of Litecoin did his best to focus on another important aspect of this industry in a recent Fast Money appearance.
— CNBC’s Fast Money (@CNBCFastMoney) August 27, 2018
Staying true to its name, Fast Money began its crypto segment by querying Litecoin founder Charlie Lee when he sees Bitcoin surpassing $20,000 yet again. Responding by doing his best to stay away from providing a clear prediction, Lee stated:
“I mean its hard to predict prices, and I have been in this space for seven years now. I think sometimes it comes back within six months or a year, but sometimes it takes three to four years. So it’s kind of hard to say.”
Following his reply, CNBC host Melissa Lee then went on to ask the Litecoin founder about if prices, in general, signify the “adoption or viability” of a crypto asset. Dividing his reply into two components, Lee first spoke on a long-term outlook, pointing out that prices do in fact represent the success of an asset. On the other hand, short-term prices “don’t really tell us much.” Backing the latter statement, the Litecoin founder noted that even though adoption rates are rising, Bitcoin, along with a majority of altcoins, still fell by over 70% this year.
This clearly outlines an issue with price speculation, as systems, services, or goods should ideally be valued via the network effect, rather than the short-term irrationality of traders.
Nonetheless, Lee still sees current prices as a more than viable zone of accumulation, giving CNBC viewers advice in the following statement:
“I think it’s good to buy on the way down, to dollar-cost average your buy-in. That’s what I would recommend for everybody to do. As long as you don’t spend money that you can’t afford to lose, I think that this strategy is fine.”
Taking this statement, along with the sentiment held by Wanchain and Shapeshift’s CEOs into account, it becomes clear that now is an optimal time to purchase crypto assets for long-term “hodling”.
“It’s A Good Time For People To Have Their Head Down To Get Stuff Done”
Brian Kelly, CNBC’s go-to crypto analyst, then brought up the topic of the upcoming Litecoin Summit, asking Lee what he wants attendees to take away from the conference. Alluding back to his previous statement regarding the long-term prospects of crypto, Litecoin’s founder, who obviously plays a key role in the event, responded by explaining:
“I would like for people to focus on the technology, adoption, merchant adoption and also how to scale. So things like the Lightning network, sidechains, and things that would help Bitcoin and Litecoin scale… And I think with the price currently depressed, it’s a good time for people to sit down and have their head down and actually working to get stuff done.”
While scaling solutions like the Lightning Network may take years to come to fruition, as Charlie Lee likes to say, “build it and they will come.”
Featured Image from Shutterstock
The post Litecoin Founder: Dollar-Cost Average In, Accumulate Crypto Now appeared first on NewsBTC.
Australian solar startup Power Ledger, the developer of a peer-to-peer (P2P) energy marketplace on a blockchain, has commenced a trial in Bangkok enabling residents to buy and sell solar electricity. In a first-of-its-kind trial in Asia, residents and habitants of Bangkok’s T77 precinct are participating in an ‘across the meter’ energy trial that allows users’
The post Aussie Blockchain Powers P2P Solar Power Trading in Upscale Bangkok Community appeared first on CCN
Markets are heading upwards; Dash, Iota, GAS and Bytecoin in double figures.
The condition of crypto markets is steadily improving as the week progresses and further gains have been made today. Total market capitalization has been bolstered by an $8 billion cash injection and is now over $225 billion once again.
Bitcoin has led the rally by climbing 3% to $6,930 in one spurt a few hours ago. The next major resistance level is $7k and the charts are indicating that more gains could be on the way. Ethereum is also up 3% on the day but that has only managed to push it to $285 which is still a very low level for the world’s second most popular crypto.
The entire top fifty altcoins are green at the moment with a few making double digit gains according to Coinmarketcap. Iota is the biggest gainer in the top ten with 15% on the day to $0.705. Since last Tuesday MIOTA has climbed 34% from $0.525 and trade volume has tripled to $90 million per day. Momentum has been driven by the release of the Trinity desktop wallet and Japanese tech giant Fujitsu stating that they are “all set to help roll out IOTA as the new protocol standard … to develop and co-create innovative technology together with customers.”Cardano is up 7% and the rest have made 3-4% on the day.
Further down the list Dash is taking off with a 23% surge to $179 in the past 24 hours. The announcement of a strategic partnership with Kripto Mobile to expand Dash’s user base in Latin America has lifted this privacy focused altcoin today. ZB.com is currently taking 60% of the trade volume in Dash which has risen 65% to $330 million.
MAJOR NEWS – @Dashpay has announced an exclusive relationship with @KriptoMobile to provide Latin Americans with an affordable way of acquiring & using #Dash for everyday transactions. Phones are pre-loaded with complete $Dash ecosystem. https://t.co/XasBlsqkD1
— Mark Mason (@StayDashy) August 27, 2018
Kripto Mobile co-founder, Luis Sosa, said;
“We are seeing an incredible transition period in Latin America with those who are unbanked, underbanked, or simply do not want to use the traditional banking system. Combining our accessible, affordable phones with Dash’s InstantSend transaction capabilities and low fees will provide a myriad of benefits to these communities.”
Monero, Neo, Zcash, VeChain, 0x and Bytecoin are also enjoying 10% gains on the day. The top altcoin in the top one hundred at the moment after Dash is GAS which has jumped 19% on the day.
Total crypto market capitalization has increased 3.7% on the day to just over $225 billion, its highest level for 18 days. Trade volume has remained steady at around $12 billion and Bitcoin’s dominance has dropped back a little to 53%. Further sustained upwards momentum could be the beginning of the recovery everyone has been waiting for.
More on Dash can be found here: https://www.dash.org/
FOMO Moments is a section that takes a daily look at the top 30 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
The post Crypto Market Update: Dash Surging on Latin American Mobile Partnership appeared first on NewsBTC.
Taking inspiration from nearby Crypto Valley in Zug, Switzerland, the tiny European principality of Liechtenstein is making every effort to become a hotbed for crypto and blockchain innovation.
Located between Switzerland, Austria, and Germany, Liechtenstein is known for its business-friendly legal framework, unique foundation law and low taxation. In the last decades, Liechtenstein has developed a very professional financial industry and is currently home to more than 700 licensed investment funds and 100 licensed asset management companies. The assets under management of Liechtenstein banks amounted to US$235 billion at the end of 2016.
The Liechtenstein financial marketplace is well known for its openness to innovative ideas and development, and these comprise cryptocurrency and blockchain-based products and companies. Liechtenstein is now going one step further and announced in March 2018 a comprehensive Blockchain Act.
According to Liechtenstein’s prime minister Adrian Hasler, the new act will focus on integrating current business models in regulatory terms in order to give companies and their clients legal certainty. It is “intended to regulate all activities that are possible on technical systems such as distributed ledgers and blockchain systems,” Hasler said.
If and when implemented, the Blockchain Act would provide a legal basis for:
- Security tokens
- Ownership of digital assets
- Transfer of ownership of digital assets
- Security and storage of tokens
- KYC/AML requirements
- Several levels of licensing for business providers in the industry
- Initial coin offerings (ICOs), token sales and token generation events (TGEs)
With the planned act, Liechtenstein would become one of the first countries in the world to regulate the blockchain topic to this extent and thus create the basis for extensive economic applications. The enactment is expected by fall 2018 and the law is intended to be put in force by beginning of 2019.
For Patrick Bont, executive board member, head of the banking division and practice leader for fintech at the Financial Market Authority (FMA) of Liechtenstein, it is the country’s small size that’s providing it with a considerable advantage over other jurisdictions.
“Because we are so small, blockchain companies can move a lot faster here than other countries,” Bont said. “You can call us for a meeting on Monday morning and we can meet you for lunch on Tuesday or Wednesday. Very few other places can do that consistently.”
Blockchain industry in Liechtenstein
Compared to Switzerland or Germany, the cryptocurrency and blockchain space in Liechtenstein is still in early stages but a report by Tages Anzeiger suggests that an increasing number of companies rejected by Swiss banks are now tending towards neighboring Liechtenstein.
Liechtenstein now hosts more than 100 blockchain countries, according to Thomas Nägele, and financial institutions such as Bank Frick have been supporting them.
In recent years, Bank Frick has grown into a recognized leader in the space, and has helped over two dozen ICO projects establish traditional bank accounts with many more in the pipeline.
Today, the bank has approximately 200 clients in the crypto and blockchain space including corporate clients, such as cryptocurrency mining groups, brokers, exchanges, traders, and ICOs, as well as private clients engaged in the crypto and blockchain space.
Liechtenstein’s Union Bank announced earlier this month plans to issue its very own security tokens, and become “the first fully regulated bank” to do so.
In the future, Union Bank said it intended to become the world’s first “blockchain investment bank” and “a one-stop crypto and blockchain solution provider which embraces and integrates the new world of blockchain technology and crypto assets and the best practices of traditional banking.”
The move came just days after Liechtenstein Cryptoassets Exchange (LCX) and Binance, one of the world’s largest cryptocurrency exchange by trade volume, announced a new crypto-to-fiat exchange backed publicly by the prime minister. The new Liechtenstein-based exchange, dubbed Binance LCX, will support trading between the euro, Swiss franc and major cryptocurrency pairs, according to a press release.
Commenting on the launch, prime minister Hasler, said:
“Blockchain technologies are laying the basis for an entirely new industry. We are confident that Liechtenstein’s existing and future legal framework and practice provide a robust foundation for the Binance LCX and other blockchain companies to provide exceptional services here in Liechtenstein.”
Featured image: Liechtenstein, Pixabay.
The post Liechtenstein Aspires to Become a Blockchain, Cryptocurrency Hub appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.