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Showing posts from February, 2019

$66 Million Building to Be Tokenized on Ethereum Blockchain in Record Deal

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For Patrick O’Meara, there is a world of difference between security tokens and tokenized securities. A security token merely means an issuer is selling a crypto token in compliance with securities laws. But with a tokenized security, “it’s a whole different world,” where blockchain technology gives investors an unprecedented level of transparency, said O’Meara, chairman and chief executive officer of Inveniam Capital Partners (ICP).  ICP is about to put this idea to the test.  The company plans to tokenize some $260 million in four private real estate and debt transactions, starting with a WeWork-occupied building in downtown Miami, Florida. Announced Tuesday, the firm intends to sell tokenized shares of the building, valued at $65.5 million, likely the largest piece of real estate to be financed this way to date. The company placed a deposit on the building last month using an unspecified amount of bitcoin. Once the other three deals are finalized, ICP will be auctioning off share

Cryptocurrency Markets Hit New 2019 High as Rally Resumes

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Many expected Bitcoin to hit resistance at $4,000 and fall back again in a pattern repeated countless times this year.  Instead it has broken through it and settled at the 200 moving average level at around $4,200.  This movement has pulled the rest of the altcoins up to a new 2019 high in terms of market cap. It seems as though CNBC has jinxed things yet again with another famous prediction in the opposite direction; Markets are currently trading at their highest levels this year and at a market cap close to the Christmas Eve rally that took it to $146 billion.  In the past 12 hours or so around $9 billion has been pumped in to cryptocurrencies pushing markets to a 2019 high of $144 billion.  Daily volume is back over $30 billion once again and OKEx and Binance are the leading two exchanges with around a billion dollars in trade a piece.  Bitcoin has commanded things again as it broke through crucial resistance a few hours ago.  It is currently trading at $4,190, up 5.2% on th

Bitcoin Remains On Hunt For $4200 Despite Price Consolidation

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Bitcoin’s three day price consolidation looks to be a bull breather before a continuation of the recent rally to above $4,000.  The leading cryptocurrency by market value is currently trading largely unchanged on the day at $3,920 on Bitstamp.  Notably, prices are trapped in a narrowing price of $4,000 to $3,860 for the third consecutive day.  As a result, traders may feel tempted to question the reliability of the high volume triangle breakout, confirmed on Monday.  The bearish to bullish trend change, however, will remain valid as long as prices are held above $3,614, as discussed yesterday.  Trading volumes have dropped 43 percent from the nine-month high of $9.93 billion seen on Tuesday, according to CoinMarketCap.  So, the pullback from highs near $4,000 to $3,900 is likely nothing more than temporary bullish exhaustion.  Further, bitcoin seems to have created a bull flag pattern  a pause which often refreshes on the higher side on the technical charts.  Therefore, the

Analyst: Investing in Ethereum Could Be More Profitable Than Bitcoin

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Investing in Ethereum at its bottom could yield more returns than investing in Bitcoin, said Don Alt. The famous cryptocurrency analyst, who has 82.7k following on Twitter, claimed that his investment paid off when he bought Ether at $121. While he didn’t specify the nature of his trade, he said his investment could return ten times more profit than bitcoin while still costing 1/3rd of the leading digital currency. At the end of 2018, both Ether and Bitcoin established their so-called bottom levels. For ETH/USD, the new low was 83, according to BitFinex data.  At the same time, the low for BTC/USD was 3,220. The cryptocurrency market, as a whole, is undergoing a weak upside correction ever since.  At the press time, the ETH/USD rate has surged 55.42%, while BTC/USD has jumped 14.62%.  That explains how Ethereum is recovering faster than Bitcoin – and why Don Alt is more bullish on the former. I knew this was the company to bet on,” said Don Alt. “Their CEO Vitalik 100% k

ICO investors email list 2019 -download now

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Ethereum Mining Pool Receives Mysterious $300K Blockchain Payout

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Ethereum mining pool Sparkpool received a payout of over 2,000 ETH (worth $300,000) just for mining one block on the ethereum blockchain Tuesday – a figure that’s about 600 times the network’s standard block reward.  Miners who secure blocks are programmed to be awarded 3 ETH (about $500) for every new transaction block added to the ethereum blockchain.  On top of this, there is also a small payout attached to transactions incentivizing miners to validate and include new transactions into a mined block. Yet, with only 210 validated transactions, Sparkpool received 2,103.1485 ETH at block number 7,238,290, according to data from ethereum block explorer Blockscout.  As highlighted on Twitter by Jimmy Zhong – co-founder of decentralized application platform IOST – the strange activity could be seen as a random fluke, with one ethereum user (or perhaps multiple) accidentally attaching abnormally high transaction fees to their payments.  Alternatively, it could be seen as a sign of

Mt. Gox to Live Again, Bitcoin Is ‘Honestly Useless,’ and Jack Dorsey Likes Lightning Network: This Week in Crypto

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CCN broke the news that Brock Pierce will be re-opening Mt. Gox after Japanese courts approve a civil rehabilitation plan to repay creditors in cryptocurrency.  Public reception of the idea has so far been luke-warm at best. Pierce told CCN: The only person who would have a reason to be against me is Mark Karpeles. I was just with him a few days ago. Mark seems to be on the same page as I am. Pierce is arguably the only shareholder in the failed exchange.  The news of Mt. Gox’s failure was many people’s first introduction to Bitcoin, and Pierce wants to write a happy ending to that dark chapter of the Bitcoin movement. BITCOIN BULLS: ‘ALL OPPOSITION MUST DIE‘ The crypto markets finally had a wildly volatile week, the first one in quite awhile, although the massive gains didn’t begin until the end of the business of week. Late Thursday and all day Friday, Bitcoin shoved off its downward slide, crushing shorts and slaying bears along the way. Our daily columns on the subject of the cry

SEC Commissioner Says Bitcoin ETF Will Be Approved ‘Eventually’

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A commissioner at the U.S. Securities and Exchange Commission (SEC) believes a bitcoin exchange-traded fund (ETF) will ultimately be approved.  Robert J. Jackson Jr., in an interview published by government-focused news source Roll Call on Wednesday, said: “Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so.”  A number of bitcoin ETF proposals have filed for SEC approval, but none has yet got the green light. Jay Clayton, chairman of the SEC) has said he doesn’t see a pathway to a cryptocurrency ETF approval until concerns over market manipulation are addressed. The SEC has to date rejected at least 10 such proposals. Last August, it turned down seven filings from ProShares, Direxion and GraniteShares.  A day later, though, the regulator said it would review the proposals. In July, the SEC for the second time rejected Cameron and Tyler Winklevoss’ proposal to list a bitcoin ETF on the Bats BZX Exchange.  Discussing th

Crypto Analyst Points To $1,700 – $3,000 As Bitcoin (BTC) Accumulation Zone

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$1,700 Bitcoin (BTC) Incoming?  Amid this extended bear season, dubbed a “crypto (nuclear) winter” by most, one analyst has quickly risen to prominence.  The pundit in question in Murad Mahmudov, a Princeton graduate turned leading Bitcoin (BTC) researcher and supposed Goldman Sachs analyst, who now sports over 39,000 followers on Twitter. The trader, who has recently become known for his in-depth analysis of Bitcoin’s downside potential, took to Twitter on Monday to discuss how he expects the flagship cryptocurrency to fare in the coming months.  In a message released in tandem with a somewhat harrowing chart, Mahmudov, who made a jaw-dropping appearance on Anthony Pompliano’s “Off The Chain” podcast, wrote: The only chart you need. My rough view on what I believe is going to happen… Patience is Virtue. Staying cohesive with his recent bits of insight, Mahmudov subsequently drew trendlines that accentuated that lower lows are inbound for BTC, especially as the “froth” that Morg

Little-Known Resistance May Be Blocking Bitcoin Price Bounce

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Bitcoin continues to chart bearish lower highs along the 50-candle moving average on the 6-hour chart. The immediate bias remains bearish while the cryptocurrency is held below that average line, currently at $3,450. Recent history shows bull failures at the 6-hour 50-candle moving average are often followed by a drop below the recent low. BTC, therefore, risks printing fresh multi-week lows below $3,322 (Jan. 29 low), having faced rejection at the crucial moving average hurdle earlier today. A convincing 6-hour close above the moving average resistance will likely weaken bearish pressures and allow a corrective rally toward $4,000. Bitcoin (BTC) price gains may be capped by a key moving average that has been acting as stiff resistance since mid-January. The leading cryptocurrency by market value jumped to $3,445 earlier today, confirming an upside break of a falling wedge – bullish reversal pattern – carved out over the last six weeks.  The breakout failed, however, and BTC ended up

Ethereum Price Analysis: ETH Bearish Below $135 Despite Development Progress

Latest Ethereum News Like every other system, there are legitimate challenges that if not addressed would slow down adoption. Topping the list is scalability and steps taken by the team to address this obstacle. Scalability appears to be a burden across all the major proof of work systems and with Ethereum leading the way as a go-to platform for launching dApps and other smart contract powered products, influx of users—even though being the ultimate objective—often times bog down performance. In times of climactic demand, throughput shrinks to the region of 5TPS from around 15TPS. However, this is not to mean that the network isn’t scalable and the snail-paced progress—hampered by never ending deliberations as a public chain–towards solution formulation would ultimately lead to user hemorrhage while simultaneously allowing alternatives as EOS or Tron for example to take over from Ethereum. As far as we know, Ethereum is through is about to bottom out from the Trough of Disillusionm

From Ponzi Schemes to ICO Exits, Ethereum’s Blockchain Has Been the Platform of Choice for Scammers

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According to a recent report from crypto analytics specialists Chainalysis, Ethereum (ETH) has become the crypto platform of choice for scam artists.  Its research suggests that 2018 saw far more sophisticated, higher-earning scams carried out using ETH, although the actual number of these crimes dropped significantly year on year.  The amount stolen through ETH-based scams doubled from $17 million in 2017 to $36 million in 2018. This equates to 0.01 percent of ETH in circulation.  Chainalysis identified over 2,000 scam Ethereum addresses, which have managed to secure funds from nearly 40,000 unique users in the network. In the space of two years, the modus operandi of scammers seems to have changed, according to data collected by Chainalysis. Phishing, Ponzi schemes and initial coin offering (ICO) exits are still the most prevalent, but there has been a shifting trend. Phishing scams were all the rage in 2017, which led to a surge in this type of crime. Users cottoned on to the ev

Bitcoin Lightning Network Continues To Thrive Amid Crypto Downturn

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The crypto downturn may have continued to ravage this industry’s startups, with an exchange even deciding to shutter all operations, but one facet of this nascent sector has continued to swell. For those who missed the memo, this facet is the Lightning Network, an off-chain system that facilitates instant, low-cost, scalable Bitcoin transactions. Lightning Network Capacity Surmounts 600 BTC Per data gathered by 1ML, the Lightning Network has surmounted a capacity of 600 BTC, just weeks after it breached the 500 BTC milestone. As of the time of writing, the scaling system can facilitate upwards of 628 BTC, $2.18 million, at maximum capacity. While some skeptics, like Ethereum’s Eric Conner, took to Twitter to critique the seemingly low levels of Lighting adoption, many say that the lackluster capacity figures are for good reason. Moreover, seeing that Lightning has worked (and quite well at that), some see skepticism towards the Bitcoin protocol as warrantless. In response

Over $92 Million in Bitcoin Lost Forever, Why this could be a Bullish Sign?

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Bitcoin has the fixed supply of 21 million, however, in the light of current and past events, thousands, presumably millions of Bitcoins are lost that only reduces its supply. Crypto Exchange Founder Dies, Crypto Funds Lost Canadian cryptocurrency exchange QuadrigaCX can’t access the majority of the $190 million that it owes to its customers, according to a court filing. In a sworn affidavit with the Nova Scotia Supreme Court, Jennifer Roberson, identified as the widow of Gerald Cotten, founder of QuadrigaCX, has stated that the exchange owes $250 million CAD that is $190 million to its customer. Recently, the exchange had taken a step to avoid bankruptcy by filing for protection from creditors.  According to the filing, as of January 31, 2019, there were about 115,000 users with their balances on the exchange inclusive of $180 million CAD in cryptocurrencies and $70 million CAD in fiat.  The exchange, according to the affidavit holds about 26,500 Bitcoin ($92.3 million USD), 11,000

Fed Chair Concerned About $22 Trillion US Debt, is Bitcoin a Viable Alternative?

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In retrospective, the national debt is a way of measuring what the US government owes to its creditors.  Since the government always spends more than what it takes, the said debt continues to rise. For instance, under the Obama administration, the national debt had increased from $10 to $20 trillion – a spotless 100 percent. In the past 60 years, the US government has struggled to balance the budget – by spending and earning at an equal level.  Every passing administration left a higher debt burden for the next, starting with President Ronald Reagan via President Clinton to President Obama. The US never came out of the so-called debt bubble.  But it doesn’t necessarily mean that they cannot. After all, the US is sitting atop a dollar printing press. Ideally, Uncle Sam can print its own money, unlike other nations. The size of their debts – arguably – does not matter because the government can pay its debt any day it wants. They would not have to impact the standard of living. Acc