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What Does the Futures Hold for Bitcoin in 2018?

As Bitcoin peaked to $20,000 just before Christmas last year, it was unstoppable in both its growth and dominance, but since then it has dr...

Thursday, May 24, 2018

Bitcoin Falls 7% -- Why Are Cryptocurrencies Plunging?

Bitcoin (BTC-USD) and most other major cryptocurrencies are deep in the red on Wednesday -- the latest in a two-week decline. In fact, all of the 25 ...

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One of the World's Largest Stock Exchanges Is 'Deep at Work' With Bitcoin

A German stock exchange that lists companies with over $2 trillion in combined market value is thinking about offering cryptocurrency-related products ...

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Regulatory Uncertainty Pushes Bitcoin Below $8000, Tom Lee Predicts a $25000 Return

Bitcoin's two-week sell off continued today, seeing the coin fall to below $8,000 — $7,500 at the time of writing — and hitting levels not seen since ...

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Bitcoin Cash Drops To Lowest In More Than A Month

Bitcoin Cash declined sharply today, falling to its lowest value since April. The price of Bitcoin Cash, which is a hard fork of the original Bitcoin, ...

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Argentinian Bank Allows Cross-Border Payments with Bitcoin

Banco Masventas is now the first financial establishment to base its cross-border payment system on the Bitcoin network. The website states that the ...

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Bitcoin Today: Prices Plummet Below $8000 in Market Downturn

Bitcoin prices were falling Wednesday, May 23, dragging the broader cryptocurrency market with them. Here's what you need to know.

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, TRON: Price Analysis ...

Argentinian Banco Masventas (BMV), has tied up with Bitex to facilitate the use of Bitcoin for international payments. It is expected to reduce transfer ...

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Argentine Bank Lets Customers Send Bitcoin Across The Border

Although the transfers will be made in bitcoin, the partnership with Bitex allows the bank to quickly convert Argentine pesos into bitcoin and back to ...

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Deutsche Boerse: We Are 'Deep At Work' Examining Bitcoin Before 'Moving Forward'

The progress is a step forward from previous remarks in March, when Tessler implied Bitcoin's volatility prevented DB from entering any related ...

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Bitcoin cash sinks below $1000

Bitcoin cash sank more than 12% Wednesday, falling below $1,000 for the first time since April. The fourth-largest cryptocurrency by market cap is now ...

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South Africa: Three Suspects in Custody Over Bitcoin Ransom Kidnapping

The kidnapping of Katlego Marite isn't the first example of such a ransom being made in Bitcoin. Last year, we reported on the case of EXMO ...

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Blockchain Skills? Hired! $120000+ Plus Bonus!

The Journal continues, “Some 4,500 job openings with the terms 'blockchain,' 'bitcoin' or 'cryptocurrency' in the title were posted on LinkedIn this year ...

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Bitcoin bull stands by his call on the cryptocurrency

Fundstrat's Tom Lee defends his bullish stance on bitcoin even in spite of the cryptocurrency's fall. Watch CNBC Live TV ...

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SEC Chairman Applauds ‘Operation Crypto-Sweep’

SEC Chairman Applauds 'Operation Crypto-Sweep'

The chairman of the United States Securities and Exchange Commission (SEC), Jay Clayton, has issued a statement “applaud[ing]” the efforts of authorities associated with the North American Securities Administrators Association (NASAA) in executing the current “enforcement sweep targeting fraudulent ICOs and crypto-asset investment products.”

Also Read: 70+ Investigations: 40 Regulators Crack Down on Suspicious Crypto Schemes

SEC Chairman Commends Regulators Involved in ‘Operation Crypto-Sweep’

SEC Chairman Applauds 'Operation Crypto-Sweep'SEC chairman Jay Clayton has “applaud[ed]” his “fellow regulators in the United States and Canada who are coordinating and participating in efforts to police fraud in the Initial Coin Offering (ICO) markets.”

“The enforcement actions being announced by NASAA should be a strong warning to would-be fraudsters in this space that many sets of eyes are watching, and that regulators are coordinating on an international level to take strong actions to deter and stop fraud,” Mr. Clayton said.

The “efforts” referred to by Mr. Clayton have seen more than 40 North American state and provincial regulators participate in ‘Operation Crypto-Sweep’ – an “enforcement sweep” targeting fraudulent ICOs and crypto investment schemes which has resulted in over 70 investigations thus far.

NASAA Describes ICO Fraud as ‘Threat to Main Street Investors”

SEC Chairman Applauds 'Operation Crypto-Sweep'The SEC chairman sought to take a firm stance regarding the issuance of unlicensed securities through an ICO, stating that “When investors are offered and sold securities, whether through traditional channels or through an ICO on a sales-oriented website, state and federal securities laws apply. These laws have applied to our securities markets for over 80 years. At their core, these laws require full and fair disclosures of material information about both the securities and the venture being funded. Unfortunately, some market participants seem to believe that the use of new technology provides a basis for ignoring the core principles of our securities laws.”

Of Operation Crypto-Sweep, NASAA President and Director of the Alabama Securities Commission, Joseph Borg, recently stated: “The persistently expanding exploitation of the crypto ecosystem by fraudsters is a significant threat to Main Street investors in the United States and Canada, and NASAA members are committed to combating this threat. Despite a series of public warnings from securities regulators at all levels of government, cryptocriminals need to know that state and provincial securities regulators are taking swift and effective action to protect investors from their schemes and scams.”

What are your thoughts on Operation Crypto-Sweep? Share your thoughts in the comments section below! 


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Darknet Market Rapture Has Been Down for a Week — Users Grow Leery

Exchanges Round-Up: Coinbundle Approved for Licensing in PH, MAS to Review Regulations, Okex Suspends Withdrawals

Exchanges Round-Up: Coinbundle Approved for Licensing in PH, MAS to Review Regulations, Okex Suspends Withdrawals

In recent news relating to cryptocurrency exchanges, Coinbundle has received approval for licensing in The Philippines, the Monetary Authority of Singapore has issued a consultation paper regarding its intention to update its regulatory apparatus for cryptocurrency exchanges, and Okex has announced that it has remedied the error that caused it abruptly to suspend withdrawals and fiat trading yesterday.

Also Read: Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Coinbundle Receives Approval for Licensing in The Philippines

Exchanges Round-Up: Coinbundle Approved for Licensing in PH, MAS to Review Exchange Regulations, Okex Suspends WithdrawalsSaad Rizvi, the co-founder and chief executive officer of Coinbundle, recently met with the National Secretary of the Philippines to finalize the exchange’s registration through CEZA, the Cagayan Economic Zone Authority – a special economic zone offering a number of tax incentives to companies operating in the country’s emerging fintech industry.

“This agreement is a huge win for CoinBundle and will enable us to go to market rapidly and help our users to begin saving and investing. We’re also excited to contribute to the fintech ecosystem of the Philippines and create new jobs here,” Mr. Rizvi said.

Coinbundle is one of fifteen fintech, blockchain, and cryptocurrency companies that are set to invest in CEZA, alongside Hachiman Technology Sdn BHD, MX Exchange Ventures, IPE Global PTE, Inc. Superieur Tech Pte. Ltd., CSM, Madison Blockchain Strategy Investment Company Ltd., Asia Pacific Blockchain Association, Pacificnet Strategic Investments Ltd., SuperAngels Ventures Ltd., and ANX International.

CEZA administrator, Raul Lambino, has welcomed the partnerships, stating: “Working with virtual currency companies allows the Philippines to gain momentum in providing an environment that encourages financial innovation and inclusion, while ensuring that the best interests of the country, the financial system, consumers, and investors are adequately protected. This new development aims to drive the economy forward by creating employment opportunities and boosting job growth. The Philippines will be ready to provide cryptocurrency companies operating here with the manpower they need for their businesses.”

Singapore Expected To Ease Exchange Regulations

Exchanges Round-Up: Coinbundle Approved for Licensing in PH, MAS to Review Exchange Regulations, Okex Suspends WithdrawalsThe emergence of new trends in trading platforms and technologies, including those pertaining to decentralized and cryptocurrency exchanges, has prompted the Monetary Authority of Singapore (MAS) to re-evaluate its legislative apparatus governing the regulation of exchanges.

In a consultation paper issued by the financial regulator, MAS states that it has “observed the emergence of new business models in trading platforms, including trading facilities that make use of blockchain technology, or platforms that allow peer-to-peer trading without the involvement of intermediaries. As the current [recognized market operators (RMO)] regime has been in place since 2002, it is timely to review the regulatory framework for market operators to ensure that it continues to meet the demands of the changing landscape.”

The consultation proposes developing a three-tiered RMO regulatory regime for market operators, and “invites comments from all financial institutions and other interested parties.”

Okex Suspends Withdrawals After Users Experience Glitches

Exchanges Round-Up: Coinbundle Approved for Licensing in PH, MAS to Review Exchange Regulations, Okex Suspends WithdrawalsOkex, the third largest cryptocurrency exchange by volume, suspended withdrawal and fiat trading services on the 22nd of May, following reports from users that their accounts had suddenly displayed enormous balances.

Several users posted snapshots displaying balances that had appeared to suddenly accrue balances of more than 15,000 BTC (over $110 million USD), and other users reported that transfers in USDT were not deducting the sent tokens from their balance, however, the transferred funds were successfully received by the recipient. Abnormal cryptocurrency prices were also reported, with BTC suddenly appearing to have abruptly dropped to $6,002, and ETH suddenly jumping up to $736.

Okex posted an announcement stating “Due to a technical error, the account balances of a few of our users are not displayed accurately. Of course, you can rest assured that your funds are safe, secured, and not affected by the recent update. We are currently fixing the issue and have suspended withdrawal service and fiat trading.”

As of this writing, Okex’s most recent announcement states that “Fixing of the database error [is] already completed, but we are currently still verifying the data and records of our users. Withdrawal and fiat trading are estimated to resume at approximately 17:00 May 23 (Hong Kong time). Please rest assured that your funds are safe and secured.”

Do you think that more financial regulators should follow in the steps of the Monetary Authority of Singapore and update their guidelines in consideration of the cryptocurrency revolution? Share your thoughts in the comments section below!


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Indian Government Considering 18% Retroactive Tax on Crypto Trading, Mining

Indian Government Considering 18% Retroactive Tax on Crypto Trading, Mining

The government of India is reportedly considering levying a type of consumption tax on cryptocurrency trading and even mining. The most grievous part of this proposal is that it may also be a retroactive measure, demanding payments for past actions.

Also Read: Economics Nobel Laureate Robert Shiller Examines Bitcoin in Historical Context

Crypto Sales Tax

Indian Government Considering 18% Retroactive Tax on Crypto Trading, MiningThe Indian Central Board of Indirect Taxes and Customs is working on a proposal to impose an 18% tax on cryptocurrencies. The proposal will be considered by the Goods and Services Tax (GST) Council once it will finalized, “people with direct knowledge of the matter” told Bloomberg.

According to the proposal: “Purchase or sale of cryptocurrencies should be considered as supply of goods, and those facilitating transactions like supply, transfer, storage, accounting, among others, will be treated as services; Value of a cryptocurrency may be determined based on the transaction value in rupees or the equivalent of any freely convertible foreign currency; If buyers and sellers are in India, the transaction would be treated as a supply of software and the buyer’s location will be the place of supply. For transfer and sale, the location of the registered person will be the place of supply. However, for sale to non-registered persons, location of the supplier would be considered as the place of supply. Transactions beyond the Indian territory will be liable for integrated GST, and would be considered as import or export of goods. IGST will be levied on cross-border supplies.”

Further according to the proposal, mining will be classified as a supply of service and Indian miners will have to pay taxes on any fees and rewards they make. Additionally, cryptocurrency exchanges, wallet providers and some miners (those making over Rs 20 lakh) will have to register under the GST.

Retroactive Tax

Indian Government Considering 18% Retroactive Tax on Crypto Trading, MiningIndia’s GST came into effect on 1st July 2017, replacing many former indirect taxes levied by the central and state governments as a measure to streamline the tax code. The Indian government is now considering that the tax on crypto will be applied retroactively since the start of the GST system, according to the same anonymous sources cited above. The meaning of this is that people will have to pay for actions they took about a year or so before the new policy, assuming it will be decided on in a couple of months.

If this tax proposal will be accepted, the retroactive aspect of it is the most likely to be challenged by traders and exchanges in the courts. Indian crypto businesses have already had to turn to the courts in the matter of the ban on banks from dealing with them, a matter that is now being handled by the country’s supreme court.

Is a retroactive tax on cryptocurrencies really feasible? Share your thoughts in the comments section below. 


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Norway and England Contemplate Central Bank-Issued Cryptocurrencies

Norway and England Contemplate Central Bank-Issued Cryptocurrencies

The central banks of Norway and England have published reports exploring different models for central bank-issued cryptocurrencies. By contrast, Federal Reserve governor, Lael Brainard, recently expressed her opposition to central bank cryptocurrencies – claiming that such would result in broad “macroeconomic consequences.”

Also Read: Chilean President Considering Regulation of Cryptocurrencies

Decline of Cash Prompts Norwegian Central Bank to Consider Central Bank-Issued Digital Currency

Norway and England Contemplate Central Bank-Issued CryptocurrenciesA new report prepared by a working group of Norges Bank has indicated that Norway’s central bank is contemplating the development of a central bank-issued cryptocurrency. The report states that “A decline in cash usage has prompted us to think about whether at some future date a number of new attributes that are important for ensuring an efficient and robust payment system and confidence in the monetary system will be needed,” adding “If the answer is yes, a [central bank-issued digital currency (CBDC)] may be an appropriate measure.”

Norges Bank identifies three specific purposes for a central bank-issued consideration that it believes “merits further consideration: […] ensur[ing] a public and credit risk-free alternative to deposits in private banks, in addition to cash[,] function[ing] as an independent backup solution for the ordinary electronic payments systems,” and “ensur[ing] the existence of suitable legal tender as a supplement to cash.”

The report states that “It is too early to conclude whether Norges Bank should take the initiative in introducing a CBDC. The impacts of a CBDC – and the socio-economic cost-benefit analysis – will depend on the specific design. The design, in turn, will depend on the purpose of introducing a CBDC,“ adding that “A CBDC raises complex issues,” and “There is virtually no international experience to draw on.” Norges Bank states that it “will continue to issue cash as long as there is demand for it. But when cash usage declines, a CBDC can be an alternative to deposit money. The primary purpose of a CBDC is to ensure confidence in money and the monetary system.”

“Further analysis is needed to assess the purposes of a CBDC, the types of solutions that best achieve these purposes and the benefits measured against financial and other costs. This is a long-term undertaking. The aim of publishing the working group’s report is to inform the public about its work, disseminate knowledge[.] and initiate a dialogue with stakeholders,” the report states.

English Central Bank Explores Different Models for Central Bank-Issued Cryptocurrency

Norway and England Contemplate Central Bank-Issued CryptocurrenciesThe Bank of England has published a working paper exploring three potential models for central bank-issued digital currencies.

The three models explore are the “Financial Institutions Access” model (FI), the “Economy-Wide Access” model (EW), and the “Financial Institutions Plus CBDC-Backed Narrow Bank Access” model (FI+). The FI model would see “CBDC access […] limited to banks and [non-bank financial institutions (FBFIs)],” whereas the EW model additionally allow “households and firms” to access CBDC. The FI+ model would see “CBDC access […] limited to banks and NBFIs,” however, “Within the NBFI sector there is at least one financial institution that acts as a narrow bank, providing a financial asset to households and firms that is fully backed by CBDC but that does not extend credit. That is, they provide households and firms with an asset that has the risk profile of central bank money, rather than a risk profile linked to the financial institution and of its borrowers.”

The report claims to “find that if the introduction of CBDC follows a set of core principles, bank funding is not necessarily reduced, credit and liquidity provision to the private sector need not contract, and the risk of a system-wide run from bank deposits to CBDC is addressed.” Said principles are that “CBDC pays an adjustable interest rate,” that “CBDC and reserves are distinct, and not convertible into each other,” “No guarantee [of] on-demand convertibility of bank deposits into CBDC at commercial banks,” and that “The central bank issues CBDC only against eligible securities.”

U.S. Federal Reserve Governor Opposed to Central Bank-Issued Digital Currencies

Norway and England Contemplate Central Bank-Issued CryptocurrenciesThe Norwegian and British reports come approximately one week after U.S. Federal Reserve governor Lael Brainard expressed her opposition to the suggestion of central bank-issued cryptocurrencies at the Decoding Digital Currency Conference in San Francisco.

Governor Brainard expressed a number of concerns pertaining to central bank digital currencies, stating that “there are serious technical and operational challenges that would need to be overcome,” including “the risk of creating a global target for cyberattacks or a ready means of money laundering.”

Mrs. Brainard argued that “the issuance of central bank digital currency could have implications for retail banking beyond payments,” asserting that “If a successful central bank digital currency were to become widely used, it could become a substitute for retail banking deposits. This could restrict banks’ ability to make loans for productive economic activities and have broader macroeconomic consequences.“ The governor also claimed that “the parallel coexistence of central bank digital currency with retail banking deposits could raise the risk of runs on the banking system in times of stress.”

Governor Brainard concluded that “there is no compelling demonstrated need for a Fed-issued digital currency,” adding that “most consumers and businesses in the U.S. already make retail payments electronically using debit and credit cards, payment applications, and the automated clearinghouse network.”

What is your opinion on central bank-issued cryptocurrencies? Tell us in the comments section below!


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Circle Adds New Feature Allowing Newbies to ‘Buy the Market’

Circle Adds New Feature Allowing Newbies to ‘Buy the Market’

Circle is going after fresh entrants to the cryptocurrency trading market with a new tool that allows them to invest in multiple coins as once. This feature is different than an index fund in a few crucial ways, perhaps most importantly being available to everyday investors not just the rich and trading professionals.

Also Read: Economics Nobel Laureate Robert Shiller Examines Bitcoin in Historical Context

Buy the Market

Circle Internet Financial Ltd., the Goldman Sachs-backed Boston-headquartered company that acquired Poloniex earlier this year, has announced a new feature on Tuesday called “Buy the Market.” It allows users to buy seven assets at once including BTC, BCH, ETH, ETC, LTC, ZEC and XMR. Aiming for simplicity, all a user has to do to create a crypto portfolio with this feature is to enter the amount of USD they want to invest and the app will automatically calculate and distribute the investment sum according to each asset’s market cap.

This type of automatic or passive management investment tool will most likely be compared to existing crypto index funds. However, it is different in a few ways as it is just a technical feature allowing to buy a number of assets at once with one click not a real fund. These include no management fees, no re-balancing when market caps change, and a very accessible minimum investment sum of just $1.

Circle Adds New Feature Allowing Newbies to ‘Buy the Market’

Better Than Crypto Index Funds?

Circle Adds New Feature Allowing Newbies to ‘Buy the Market’

When comparing to crypto index funds such as those offered by Coinbase or Bitwise, the first thing to pop out is that the new Circle feature is available to all its normal users, not just to so called accredited investors. To be considered an accredited investor in the US, an individual must first report to the SEC that they have a net worth of at least $1,000,000 excluding the value of their primary residence or have a yearly income of at least $200,000. And companies need to have total assets in excess of $5 million or be recognized as a bank, insurance company, business development company, or registered investment company.

Circle’s Rachel Mayer commented: “This is one of the first experiences of its kind for consumers. Other crypto products that allow you to invest in market weight distributed fashion are accompanied by high minimums and 3% management fees. Circle Invest removes all this friction, making investing in multiple coins at once available for anyone at the same competitive pricing we deliver on all of our coins.”

Only last week Circle announced it had raised $110 million in a Series E fundraising round led by the Chinese firm Bitmain Technologies. It now looks it intends to use this money to expand its services in more ways than just issuing a new Tether alternative, like challenging index fund providers.

Would you prefer using such a feature over investing in a crypto index fund? Share your thoughts in the comments section below. 


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Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

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Blockchain Skills? Hired! $120,000+ Plus Bonus!

Blockchain Skills? Hired! $120,000+ Plus Bonus!

Blockchain this and blockchain that might be so much hype, but no one can deny hundreds of millions of dollars, some say billions, sloshing around the ecosystem in search of advancing technology undergirding cryptocurrencies. There’s a battle in even the broader employment market as Facebook, Amazon, IBM and others search for blockchain development talent, pushing salaries and bonuses into the stratosphere.

Also read: CNBC Shows Bitcoin Cash (BCH) Love, Predicts Mooning

Blockchain Jobs Need Talent with Know-How

The Wall Street Journal recently profiled the booming blockchain industry, honing-in on the demand from employers for a seemingly small pool of qualified candidates. And basic economic theory holds when the supply is at a premium and being chased by more and more dollars, the relative price will inevitably increase.

Katheryn Griffith Hill of Blockchain Developers, a headhunter, confirmed, “We are seeing people who are making half a million dollars,” she’s quoted, adding those with as little as three years experience are fetching “definitely well over $120,000” to start. The Journal continues, “Some 4,500 job openings with the terms ‘blockchain,’ ‘bitcoin’ or ‘cryptocurrency’ in the title were posted on LinkedIn this year through mid-May, according to the company. That is up 151% over the total in all of 2017. Just 645 such job openings were posted in 2016.”

Blockchain Skills? Hired! $120,000+ Plus Bonus!

Blockchains are simply a spin on database technology, and really aren’t all that new or even novel. That they’re used as accountancy in distributed ledger form, and decentralized in the cryptocurrency context, makes them valuable when attached to a currency such as bitcoin cash (BCH). Within the crypto world, such ledgers act as payment settlement systems, and, in the case of BCH, have solved the notorious bugaboo of creating a digital currency: double spending. For years, inventors were foiled by this problem. Satoshi Nakamoto’s insight, then, was to make coins like bitcoin cash become not only a medium of exchange and store of value but also contain a payment system, allowing for relatively trustless transactions between private parties to occur all over the globe.

Still other wags within the financial technology industry have seized on the neologism “blockchain,” a descriptive term to help explain how miners connect it all together, and stress the tech can solve virtually any problem. Animal spirits being what they are, the corporate world has dutifully swallowed the hype whole, and so nearly any company attaching itself to the mere mention of the word can sit back and watch their valuations climb.

Too Rich for Traditional Employment

Yuliya Chernova writes of a paradox as employers seek blockchain devs, describing how “many of the more experienced crypto developers already have made money trading bitcoin and Ethereum.” Indeed, hammering home the point Daniele Sileri, CEO of Blockchain Studios, insisted most “of the developers are millionaires already, so they don’t really care about money.”

Blockchain Skills? Hired! $120,000+ Plus Bonus!Initial coin offerings (ICOs) and venture capital have combined to lure many an accomplished dev away from traditional employment. Ripple’s David Schwartz underscores the fact “ICOs dumped a bunch of money on the industry,” to the degree that even money is “devalued” in the blockchain employment market, according to the Journal. Mr. Schwartz remarked how compensation has become “insane,” as he’s witnessed blockchain devs, at least two, receive “$1 million signing bonus offers,” the Journal notes.

Dearth of top dev talent is a global problem, and companies are struggling to distinguish themselves from the pack. Remote working arrangements, along with killer remuneration schedules, reveal work that “might have been free, there’s now a market for that work,” a dev at Augur said. Even “Augur itself has posted rewards of up to $100,000 for developers to complete certain tasks,” the Journal explained.

Do you think the blockchain employment market is overblown, or is it a good sign? Let us know what you think of this subject in the comments below.


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A Hands-On Review of the Keepkey Hardware Wallet

PR: Former Huobi CTO Zhang Jian Launches FCoin, Gaining Investments from Top Venture Capital Firms

Former Huobi CTO Zhang Jian Launches FCoin, Gaining Investments from Top Venture Capital Firms

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

FCoin, a digital assets trading platform, has gained investments from top-notch investment institutions including Danhua Capital, Node Capital, Singer Capital, Timestamp Capital, 8 Decimal Capital, Zipper Fund and other investors.

FCoin was founded by Zhang Jian, former Huobi CTO and author of the book “Blockchain: Defining The Future Finance and Economic Landscape”.

“We are delighted to receive investments from such trusted partners and look forward to progressing our plans to become a leading player in the crypto currency trading market,” Zhang Jian said.

FCoin is innovative and unique in its form of organization in that it is not simply a trading platform or a company but a new community that its users, namely the community members, can use to execute their rights and interests by holding FCoin Tokens (FTs), issued by FCoin.

FCoin has three features. First, it is the world’s first fully transparent trading platform, with disclosure of real-time assets and transaction data on the platform. Second, the world’s first platform adopts a “transaction fee mining” model and more than half of the FTs are rewarded to community users by returning the transaction fee. Third, beyond the self-organizing ecology of the community, 80% of the exchange’s revenue will go to the holders of FT, while FT holders also have the right to participate in the major decisions of the community.

There are two ways of accepting listings of crypto currencies, Zhang Jian explained. The first is by recommendation. Crypto currency which is highly recommended by a majority of the community members and meets the criteria can be listed on the mainboard, while others can go to the innovation board after scrutiny.

FCoin promises that the audit results will be given within 3 working days after the submission of the application, and, if the audit results are positive, the approval will be given immediately.

This is only the starting point of the evolution of FCoin, Zhang noted. Next, FCoin will advance a clearing and settlement system based on the cross-chain technology. The ultimate goal is to transform the exchange into a structure of Token+Blockchain, and practise the token economy.

FCoin is developed by a top-notch international team independently. The core team of the FCoin community consists of people from world-recognized companies who have considerable experience in both Wall Street and crypto finance companies.

For further information, please visit official website: FCoin.com
Telegram: https://t.me/FCoinofficial

Contact Email Address
info@Fcoin.com
Supporting Link
www.Fcoin.com

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Over the past few days, cryptocurrency markets have been losing steam as many digital assets have lost a good amount of value. Most coins are down anywhere between 3-15 percent over the past 24-hours. Bitcoin Cash (BCH) values have dipped 10 percent over the last day and prices hover around $1,055 today. Bitcoin Core (BTC) prices are under the $8K zone losing 4.1 percent today as BTC values average around $7,909 at the time of publication.

Also Read: Bank in Argentina Launches BTC Settlement Services

Stormy Weather Continues to Dump on Crypto-Markets This Spring

Last spring and more specifically in May of 2017 digital currency markets were on fire but this year is a whole different story. Cryptocurrency markets are not doing so well today as every single coin among the top 50 largest valuations are in the red showing losses. The overall market capitalization of all 1,600+ digital assets is around $345Bn today and 24-hour trade volume hovers around 17.8Bn. Trade volume pales in comparison to two weeks ago when cryptocurrency daily trade volumes where much higher. For instance, BCH 24-hour volumes today are around $722Mn when two weeks ago it was about $2Bn+. The same goes for BTC as its daily volumes used to be around $8-9Bn and now the metric stands at $5Bn during today’s trading sessions.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Bitcoin Cash (BCH) Market Action

Markets Update: Stormy Weather Continues to Plague Cryptocurrency TradersBitcoin Cash values have dipped a good eight percent today, and roughly sixteen percent during the past seven days. The top exchanges today swapping the most BCH include Okex, Hitbtc, Bitfinex, Lbank, and Huobi. The top three currencies on these specific trading platforms traded for BCH includes tether (USDT), BTC, and USD. Today the most traded pairs with BCH is BTC by 39.3 percent, Tether (USDT 24.7%), USD (20.5%), KRW (10.3%), and the EUR (2.3%). Ethereum, the Japanese yen, and Waves are also capturing decent percentages of BCH trade volume on May 23.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

BCH/USD Technical Indicators

Looking at the 4-hour BCH/USD chart on Bitfinex and Bitstamp shows bulls are attempting to regain some upper ground this morning after the dips. As we mentioned during our last markets update the two Simple Moving Averages (SMA) trend lines were about to cross hairs and this happened earlier today. The 100 SMA is now below the longer-term 200 SMA indicating the path to resistance will likely be on the downside. The Relative Strength Index is meandering in the middle showing some consolidation taking place and uncertainty towards the next big move.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

MACd shows similar sentiment as the indicator is hovering around -23 but shows room for improvement. Order books on the upside show BCH bulls need to press past big sell walls between $1,090-1,160. On the backside if bears manage to bring BCH down there is decent support between $950-1,000 at press time but if that resistance breaks things could drop much lower. Presently it looks like bears won’t get prices that low in the short-term, but these ranges are not out of the question.

Bitcoin Core (BTC) Market Action

Markets Update: Stormy Weather Continues to Plague Cryptocurrency TradersBitcoin Core (BTC) prices are below the $8K region after holding above this zone for a couple weeks. Now prices are hovering around $7,927 per BTC and markets are down 4.6 percent during the last seven days. Daily trade volume is weaker than usual as traders are only swapping $5.6Bn worth of BTC during this morning’s trading sessions. The top exchange today trading the most BTC is Binance followed by Bitfinex, Okex, Huobi, and Bitflyer. The Japanese yen is the most dominating pair today with BTC at 55 percent and followed by the USD (19.8%), Tether (USDT 15%), KRW (3.7%), and the EUR (3.2%).

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

BTC/USD Technical Indicators

Looking at the 4-hour BTC/USD chart on Coinbase/GDAX and Bitstamp shows buyers are stepping up their positions this morning. The two SMAs have also crossed paths during the earlier morning BTC trading sessions as well with the short term 100 SMA now below the 200 SMA. This also indicates bears currently have the reigns and they may take the dips further in the coming hours if resistance above $8K cannot be broken. However, RSI levels show oversold conditions and this shows a bounce back may be in the cards today as well.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Looking at order books shows much less resistance on the BTC/USD side in comparison to the BCH/USD side. Bulls only need to muster past the $8-8200 zone to get to higher regions but things become more difficult between $8,500-8,750. On the back side buy orders show solid foundations between $7,400 and $6,900 but after that things don’t look so hot. Overall chart patterns show it’s unlikely prices will get below the $7,400 region anytime soon, and bulls are fighting back with some success at the time of publication.

The Verdict: Stormy Weather and Uncertainty is Slowly Breaking Optimism Down  

Overall most coins are feeling the losses and trying to regain some of the upper hand. Litecoin (LTC) and Ripple (XRP) are two coins who have managed to take less of a beating. Another market oddity today is the BTC/ZEC cryptocurrency fork called Bitcoin Private (BTCP) which is up 13 percent over the past 24-hours.

Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Top 24-hour trade volume coins today are Tether (USDT), Ethereum (ETH), EOS, Bitcoin Cash (BCH), and Tron (TRX). The losses today throw another black cloud on enthusiasts and traders hoping for long positions to pull through this spring. However, for cryptocurrency traders, it has been nothing but stormy weather with a few brief instances of sunshine here and there. Positivity is lessening and people are definitely more skeptical this week than the past three weeks prior.

Where do you see the price of BCH, BTC, and other cryptocurrencies headed from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


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The post Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders appeared first on Bitcoin News.



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