Latest cryptocurrency news and prices, 16 October 2019 – The South African

Bitcoins price has stumbled back below a key support area, while most of the altcoin markets are swimming in a sea of red price losses on the day. Here are your latest cryptocurrency news and prices.

The worlds number one cryptocurrency traded flat for the better part of yesterday, with an intraday high at $8,400. At around 20:00 last night, the OG crypto took a sudden dip below the $8,200 price area, thus recording a loss of more than 2% on the day.

Bitcoins market share has decreased to 66.3%, its lowest level since early August, with its daily trading volume sitting at around $15 million.

Read more at fxstreet.com

(Trading at $224.10 at 14:00 16 October 2019)

Cyber criminals keep evolving with each passing day as they seek to avoid detection from security experts. Having started off by demanding BTC in ransom, they have started switching to Litecoin according to a new report. Litecoin addresses are not as easily detectable by most firewalls, allowing the criminals to get through to their victims.

Initially, extortion claims came in the form of plain text, with the criminals claiming to have footage of the victim doing some things that they would prefer to keep private. The ransom is demanded in BTC for most cases. Usually, its just a hoax, but it still manages to convince quite a few victims. However, in time, businesses began installing programs that blocked any email that contained keywords related to extortion.

Read more at fxstreet.com

(Trading at $55.47 at 14:00 16 October 2019)

Dan Larimer, the chief technical officer of Block.One, the company behind the EOS ecosystem, published several proposals on how to improve network decentralization.

The purpose of blockchain governance is to make decisions in the best interest of as many people as possible while minimizing the opportunity for a small group of people to act in ways that benefit themselves at the expense of the community, the CTO of Block.One explained.

He also added that is was necessary to align interests and select the parties that would lose a lot if the network failed to operate to its potential. Larimer suggested providing voting rights only to the tokens locked in a long-term staking contract to ensure a long-term outlook and skin in the game

Read more at fxstreet.com

(Trading at $2.98 at 14:00 16 October 2019)

Amun AG in collaboration with Binance is launching a Binance Coin (BNB) based exchange-traded product (ETP). The trading of Amun BNB (ABNB) ETF is trading service is starting on Tuesday. According to the announcement via a blog post by Binance:

The launch of the ETP is a first step for the partnership, paving the way for more innovative products contributing to the global transition to crypto assets.

The new product, ABNB introduces Binance Coin to the traditional market structure while expanding BNB utility. In addition to that, access to the digital asset has been made possible for institutional clients as well as the retail market.

Read more at fxstreet.com

(Trading at $18.41 at 14:00 16 October 2019)

TrueReviews.io was one of the standout projects at the Bitcoin Associations recent Pitch Day in Seoul, South Korea. Not wanting to lose that momentum, the project recently had successful limited alpha test, inviting real users to start using the service and test its limits.

True Reviews, founded by Connor Murray, seeks to solve the problem of fake or unfair business reviews by removing advertising from the experience, and instead replacing it with a Bitcoin SV (BSV) reward system.

The site began looking for alpha testers on October 12, quickly finding several dozen to help give the project a good once over. Murray returned to Twitter on October 15 to announce the results of the test.