Do We Have Minds of Our Own? – The New Yorker

In order to do science, weve had to dismiss the mind. This was, in any case, the bargain that was made in the seventeenth century, when Descartes and Galileo deemed consciousness a subjective phenomenon unfit for empirical study. If the world was to be reducible to physical causation, then all mental experiencesintention, agency, purpose, meaningmust be secondary qualities, inexplicable within the framework of materialism. And so the world was divided in two: mind and matter. This dualistic solution helped to pave the way for the Enlightenment and the technological and scientific advances of the coming centuries. But an uneasiness has always hovered over the bargain, a suspicion that the problem was less solved than shelved. At the beginning of the eighteenth century, Leibniz struggled to accept that perception could be explained through mechanical causeshe proposed that if there were a machine that could produce thought and feeling, and if it were large enough that a person could walk inside of it, as he could walk inside a mill, the observer would find nothing but inert gears and levers. He would find only pieces working upon one another, but never would he find anything to explain Perception, he wrote.

Today we tend to regard the mind not as a mill but as a computer, but, otherwise, the problem exists in much the same way that Leibniz formulated it three hundred years ago. In 1995, David Chalmers, a shaggy-haired Australian philosopher who has been called a rock star of the field, famously dubbed consciousness the hard problem, as a way of distinguishing it from comparatively easy problems, such as how the brain integrates information, focusses attention, and stores memories. Neuroscientists have made significant progress on the easier problems, using fMRIs and other devices. Engineers, meanwhile, have created impressive simulations of the brain in artificial neural networksthough the abilities of these machines have only made the difference between intelligence and consciousness more stark. Artificial intelligence can now beat us in chess and Go; it can predict the onset of cancer as well as human oncologists and recognize financial fraud more accurately than professional auditors. But, if intelligence and reason can be performed without subjective awareness, then what is responsible for consciousness? Answering this question, Chalmers argued, was not simply a matter of locating a process in the brain that is responsible for producing consciousness or correlated with it. Such a discovery still would fail to explain why such correlations exist or why they lead to one kind of experience rather than anotheror to nothing at all.

One line of reductionist thinking insists that the hard problem is not really so hardor that it is, perhaps, simply unnecessary. In his new book, Rethinking Consciousness: A Scientific Theory of Subjective Experience, the neuroscientist and psychologist Michael Graziano writes that consciousness is simply a mental illusion, a simplified interface that humans evolved as a survival strategy in order to model the processes of the brain. He calls this the attention schema. According to Grazianos theory, the attention schema is an attribute of the brain that allows us to monitor mental activitytracking where our focus is directed and helping us predict where it might be drawn in the futuremuch the way that other mental models oversee, for instance, the position of our arms and legs in space. Because the attention schema streamlines the complex noise of calculations and electrochemical signals of our brains into a caricature of mental activity, we falsely believe that our minds are amorphous and nonphysical. The body schema can delude a woman who has lost an arm into thinking that its still there, and Graziano argues that the mind is like a phantom limb: One is the ghost in the body and the other is the ghost in the head.

I suspect that most people would find this proposition alarming. On the other hand, many of us already, on some level, distrust the reality of our own minds. The recent vogue for mindfulness implies that we are passive observers of an essentially mechanistic existencethat consciousness can only be summoned fleetingly, through great effort. Plagued by a midday funk, we are often quicker to attribute it to bad gut flora or having consumed gluten than to the theatre of beliefs and ideas.

And what, really, are the alternatives for someone who wants to explain consciousness in strictly physical terms? Another option, perhaps the only other option, is to conclude that mind is one with the material worldthat everything, in other words, is conscious. This may sound like New Age bunk, but a version of this concept, called integrated information theory, or I.I.T., is widely considered one of the fields most promising theories in recent years. One of its pioneers, the neuroscientist Christof Koch, has a new book, The Feeling of Life Itself: Why Consciousness Is Widespread but Cant Be Computed, in which he argues that consciousness is not unique to humans but exists throughout the animal kingdom and the insect world, and even at the microphysical level. Koch, an outspoken vegetarian, has long argued that animals share consciousness with humans; this new book extends consciousness further down the chain of being. Central to I.I.T. is the notion that consciousness is not an either/or state but a continuumsome systems, in other words, are more conscious than others. Koch proposes that all sorts of things we have long thought of as inert might have a tiny glow of experience, including honeybees, jellyfish, and cerebral organoids grown from stem cells. Even atoms and quarks may be forms of enminded matter.

Another term for this is panpsychismthe belief that consciousness is ubiquitous in nature. In the final chapters of the book, Koch commits himself to this philosophy, claiming his place among a lineage of thinkersincluding Leibniz, William James, and Alfred North Whiteheadwho similarly believed that matter and soul were one substance. This solution avoids the ungainliness of dualism: panpsychism, Koch argues, elegantly eliminates the need to explain how the mental emerges out of the physical and vice versa. Both coexist. One might feel that aesthetic considerations, such as elegance, do not necessarily make for good science; more concerning, perhaps, is the fact that Koch, at times, appears motivated by something even more elementala longing to renchant the world. In the books last chapter, he confesses to finding spiritual sustenance in the possibility that humans are not the lone form of consciousness in an otherwise dead cosmos. I now know that I live in a universe in which the inner light of experience is far, far more widespread than assumed within standard Western canon, he writes. Koch admits that when he speaks publicly on these ideas, he often gets youve-got-to-be-kidding-stares.

It is an irony of materialist theories that such efforts to sidestep ghostly or supernatural accounts of the mind often veer into surreal, metaphysical territory. Graziano, in a similarly transcendent passage in his book, proposes that the attention-schema theory allows for the possibility of uploading ones mind to a computer and living, digitally, forever; in the future, brain scans will digitally simulate the individual patterns and synapses of a persons brain, which Graziano believes will amount to subjective awareness. Like Koch, Graziano, when entertaining such seemingly fanciful ideas, shifts into a mode that oddly mixes lyricism and technical rigor. The mind is a trillion-stranded sculpture made of information, constantly changing and beautifully complicated, he writes. But nothing in it is so mysterious that it cant in principle be copied to a different information-processing device, like a file copied from one computer to another.

The strangeness of all this does not mean that such speculations are invalid, or that they undermine the theories themselves. While reading Koch and Graziano, I recalled that the philosopher Eric Schwitzgebel, in 2013, coined the term crazyism to describe the postulate that any theory of consciousness, even if correct, will inevitably strike us as completely insane.

If the current science of consciousness frequently strikes us as counterintuitive, if not outright crazy, its because even the most promising theories often fail to account for how we actually experience our interior lives. The result, Tim Parks writes in his new book, Out of My Head: On the Trail of Consciousness, is that we regularly find ourselves signing up to explanations of reality that seem a million miles from our experience. In 2015, Parks, a British novelist and essayist, participated in a project funded by the German Federal Cultural Foundation which put writers in conversation with scientists. The initiative led Parks to meet with a number of neuroscientists and observe their research on consciousness. Parks finds that most of the reigning theories upend his intuitive understanding of his own mind. Truth, these experts tell him, lies not in our fallible senses but in the bewildering decrees of science. Our minds, after all, are unreliable gauges of the objective world.

Parks takes a different approach: mental experience lies at the core of Out of My Head, not only as subject but as method. For Parks, our subjective understanding of our minds is trustworthy, at least to a degree; he admonishes the reader to weigh every scientific theory against their knowledge of what its really like being alive. Throughout his account of his travels, he dramatizes his inner life: he notices how time seems to slow down at certain moments and accelerate at others, and how the world disappears entirely when he practices meditation; he describes his fears about his girlfriends health and his doubts about whether he can write the book that we are reading.

Most of the neuroscientists whom Parks meets believe that consciousness can be reduced to neuronal activity, but Parks begins to doubt this consensus view. As a novelist, attentive to the nuances of language, he notices that these theories rely a great deal on metaphor: the literature of consciousness often refers to the brain as a computer, chemical activity as information, and neuronal firing as computation. Parks finds it puzzling that our brains are made up of thingscomputersthat we ourselves only recently invented. He asks one neuroscientist how electrical impulses amount to information, and she insists that this is just figurative language, understood as such by everyone in the field. But Parks is unconvinced: these metaphors entail certain theoretical assumptionsthat, for instance, consciousness is produced by, or is dependent upon, the brain, like software running on hardware. How are these metaphors coloring the parameters of the debate, and what other hypotheses do they prevent us from considering?

Parkss skepticism stems in part from his friendship with an Italian neuroscientist named Riccardo Manzotti, with whom he has been having, as he puts it, one of the most intense and extended conversations of my life. Manzotti, who has become famous for appearing in panels and lecture halls with his favorite prop, an apple, counts himself among the externalists, a group of thinkers that includes David Chalmers and the English philosopher and neuroscientist Andy Clark. The externalists believe that consciousness does not exist solely in the brain or in the nervous system but depends, to various degrees, on objects outside the bodysuch as an apple. According to Manzottis version of externalism, spread-mind theory, which Parks is rather taken with, consciousness resides in the interaction between the body of the perceiver and what that perceiver is perceiving: when we look at an apple, we do not merely experience a representation of the apple inside our mind; we are, in some sense, identical with the apple. As Parks puts it, Simply, the world is what you see. That is conscious experience. Like Kochs panpsychism, spread-mind theory attempts to recuperate the centrality of consciousness within the restrictions of materialism. Manzotti contends that we got off to a bad start, scientifically, back in the seventeenth century, when all mental phenomena were relegated to the subjective realm. This introduced the false dichotomy of subject and object and imagined humans as the sole perceiving agents in a universe of inert matter.

Manzottis brand of externalism is still a minority position in the world of consciousness studies. But there is a faction of contemporary thinkers who go even furtherwho argue that, if we wish to truly understand the mind, materialism must be discarded altogether. The philosopher Thomas Nagel has proposed that the mind is not an inexplicable accident of evolution but a basic aspect of nature. Such theories are bolstered, in part, by quantum physics, which has shown that perception does in some cases appear to have real causal power. Particles have no properties independent of how you measure themin other words, they require a conscious observer. The cognitive scientist Donald Hoffman believes that these experimental observations prove that consciousness is fundamental to reality. In his recent book The Case Against Reality: Why Evolution Hid the Truth from Our Eyes, he argues that we must restart science on an entirely different footing, beginning with the brute fact that our minds exist, and determining, from there, what we can recover from evolutionary theory, quantum physics, and the rest. Theories such as Hoffmans amount to a return of idealismthe notion that physical reality cannot be strictly separated from the minda philosophy that has been out of fashion since the rise of analytic philosophy, in the early twentieth century. But if idealism keeps resurfacing in Western thought, it may be because we find Descartes and Galileos original dismissal of the mind deeply unsatisfying. Consciousness, after all, is the sole apparatus that connects us to the external worldthe only way we know anything about what we have agreed to call reality.

A few years before Parks embarked on his neuro-philosophical tour, he and his wife divorced, and many of his friends insisted that he was having a midlife crisis. This led him to doubt the reality of his own intuitions. It seems to me that these various life events might have predisposed me to be interested in a theory of consciousness and perception that tends to give credit to the senses, or rather to experience, he writes.

By the end of the book, its difficult to see how spread mind offers a more intuitive understanding of reality than other theories do. In fact, Parks himself frequently struggles to accept the implications of Manzottis ideas, particularly the notion that there is no objective world uncolored by consciousness. But perhaps the virtue of a book like Parkss is that it raises a meta-question that often goes unacknowledged in these debates: What leads us, as conscious agents, to prefer certain theories over others? Just as Parks was drawn to spread mind for personal reasons, he invites us to consider the human motivations that undergird consensus views. Does the mind-as-computer metaphor appeal to us because it allows for the possibility of mind-uploading, fulfilling an ancient, religious desire for transcendence and eternal life? Is the turn toward panpsychism a kind of neo-Romanticism born of our yearning to renchant the world that materialism has rendered mute? If nothing else, these new and sometimes baffling theories of consciousness suggest that science, so long as it is performed by human subjects, will bear the fingerprints of our needs, our longings, and our hopesfalse or otherwise.

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Do We Have Minds of Our Own? - The New Yorker

What Are The Best Anonymous Bitcoin Casinos? – Coin Clarity

Do you find crypto casinos that require KYC uploads to be a pain? Read this article to discover some casinos to check out that allow players to remain anonymous while still offering a quality, dependable gambling experience as well.

If you are any kind of a crypto gambler, you are probably aware of the concept of Know Your Customer (KYC) and Anti-Money Laundering (AML) practices that are often imposed on players at bitcoin casinos. Uploading personally-identifying documents to a crypto casino can be a cumbersome and unwelcome process for a number of reasons:

Identity theft is by far the most profitable form of online scam, and although it is already a rampant problem, it continues to increase with each passing year. Therefore, it is not totally unreasonable to want to avoid bitcoin casinos that make KYC checks mandatory for their players.

Every licensed crypto casino is bound by the conditions of their license to perform KYC procedures on their customers; however, many have taken the route of only enforcing KYC when players deposit or request withdrawals above a certain threshold. Some casinos suggest you upload KYC documents as soon as you register, while others only ask for it on what is seemingly a random basis. In worst case scenarios, there are some casinos that will suddenly spring KYC documentation requests on customers only when they do not want to pay out a certain user, whether it is because it was a large winning or for other reasons.

All of these factors can be avoided by choosing to play at a casino that will not ask you for your personal information. These casinos value the anonymity of their members and usually have KYC as an entirely optional feature if it even exists at all. There are of course risks involved with playing at such casinos, as they themselves are often run anonymously, and as such, they dont really answer to anybody in terms of regulation. They rely on reputation alone.

The anonymous-friendly casinos we list below have all been in operation for years. They have slowly gained the trust of their users, who keep returning to them time and again, comfortable with the fact that they known how to run a good business. At the end of the day, having a license and publicly-known owners isnt going to be enough to insure that a casino isnt going to scam its customers the only thing that actually matters is having a proven track record of delivering a fair gameplay experience in a competent and trustworthy manner. We now present to you a few KYC-free bitcoin casinos and gambling sites that have just that, offering our confidence in their operations as well.

Types of games: slots, card games, table games, live dealer

Year founded: 2014

Coins accepted: BTC, LTC, DOGE, BCH, USDT

BitcoinPenguin has been in operation for a number of years, and while they do have a handful of outstanding user complaints against them, they have even more positive reviews by loyal users. They are an anonymous casino and as such do not request any specific information from their users. However, if a player is suspected of using multiple accounts (which is forbidden), BitcoinPenguin may ask them for identifying documentation before issuing a withdrawal. That being said, they have a lot of top quality games that arent available at any other anonymous casino, and are probably the biggest crypto casino that doesnt currently ask for personally-identifying documentation.

Click here to get started playing at BitcoinPenguin now.

Types of games: dice, Blackjack, BitAce, slots, sportsbook

Year founded: 2014

Coins accepted: BTC, LTC, DOGE, ETH, CSNO, EOS

BitDice has been in operation for over 5 years, and for the longest time they concentrated on offering only one thing: a good, clean provably fair dice game with a 1% house edge. They have since expanded somewhat, most recently incorporating a (limited) sportsbook into their operation. While they claim they have the right to impose KYC, we cannot find any instances of them ever actually springing requests for identification upon their customers an exception being when they ask players to prove that they are above the age of 18. BitDice ran an ICO to raise investment funds last year which was quite successful, distributing their in-house Ethereum token (CSNO) to participants. They have a solid reputation for a KYC-free casino and are highly recommended, so long as you dont mind their limited selection of games.

Click here to get started playing at BitDice now.

Types of games: dice

Year founded: 2013

Coins accepted: BTC

Bustabit is a unique dice-type game where players bet how long a multiplier will continue to accumulate (starting at zero, going up to an indefinite amount). For example, if a player bets on 2, they will receive 2x their initial bet. Though simple in its concept, the game is highly addictive and attracts thousands of players on a daily basis. The chat box gives the game a social aspect which renders it unlike most other casinos, and the chance to win a return of potentially thousands-fold makes it one of the most exciting games to watch. Bustabit has a house edge of 1%, whereby occasionally the number will bust at 1.0, forcing a loss on all bettors. As it employs a provably fair design, it is considered to be one of the most honest of all bitcoin gambling sites, and is open to players from all around the world. Users also have the chance to invest in profits accumulated by Bustabit if they want to get in on the house winnings.

Click here to get started playing at Bustabit now.

Types of games: dice, slot (singular), Blackjack, Roulette, Video Poker, plinko, Minesweeper, lottery

Year founded: 2014

Coins accepted: BTC, ETH, LTC, DOGE, XMR, BCH, ETC, DASH, GAS, STRAT

Crypto-Games.net is another long-standing crypto casino operation which has made a name for itself by concentrating on 3 things: simplicity, fairness, and anonymity. For over 5 years it has also accepted more different crypto deposit options than most other casinos, most recently adding Stratis (STRAT) to their list. Crypto-Games also employs a provably fair betting system which makes it easy to verify the fairness of dice rolls (as well as some of the other games in its limited selection) and has a reputation for being an honest, no-hassle casino that always honors the deposits and withdrawals of its customers.

Click here to get started playing at Crypto-Games.net now.

Types of games: sportsbook, dice, Texas HoldEm, Blackjack, slot (singular)

Year founded: 2012

Coins accepted: BTC

One of the oldest bitcoin casinos still around (and the oldest sportsbook), Nitrogensports recently increased their offerings to include a provably fair dice game, Blackjack, and a single slots game. They are well-known for being an incredibly honest, well-run operation that is definitely worthy of your patronage. In addition to having a complete sportsbook with dozens of different sporting events on which to wager, they are also one of the only bitcoin casinos to offer Texas HoldEm against other players. Having 7 years of experience under their belt means they know a thing or two about treating their customers to a good gambling experience, and theres hardly a better operation that allows players to gamble anonymously out there.

Click here to get started playing at Nitrogensports now.

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What Are The Best Anonymous Bitcoin Casinos? - Coin Clarity

Ethereum Ice Age May be Imminent If Miners Withdraw From Network – Cointelegraph

The Ethereum block difficulty began to grow back in November 2016. Since then, developers have been constantly forced to carry out hard forks to keep the network up until the transition to a proof-of-stake algorithm takes place.

In the lead-up to the Istanbul upgrade, implemented on Dec. 8, the Ethereum team decided again to postpone the explosion of a so-called difficulty bomb, which some believe may lead to the onset of an Ice Age. How can this happen and what would be the consequences if the Ethereum network froze?

When creating Ethereum (ETH), the developers initially assumed that it would work on a proof-of-stake consensus algorithm. However, as this idea implementation demanded more time, the network was launched on the more familiar consensus model: proof-of-work.

At the same time, the developers prudently introduced a difficulty bomb into Ethereum i.e., a mechanism that is supposed to gradually make the process of generating new blocks more complicated, which would gradually lead the network toward PoS.

Related: Istanbul to Berlin: Ethereum Milestones on the Road to Serenity

Initially, the bomb was supposed to explode after Ethereum would be ready to work on the new algorithm called Casper, and provoke the so-called Ice Age a transitional stage during which mining new coins would become difficult and unprofitable. Theoretically, this procedure should force miners to switch to a new chain, instead of maintaining the old one.

However, due to the delay in the development of the PoS mechanism, the transition to Ethereum 2.0 is constantly being adjourned. At the same time, the difficulty bomb has been about to explode several times and the Ethereum team has been constantly delaying it by conducting hard forks, so as not to frighten miners supporting the stability of the network ahead of time.

Vitalik Buterin, one of the co-founders of Ethereum, had previously predicted the fall of the network to take place in 2021, as it will become almost frozen due to a difficulty bomb. However, while the events and landmarks in the Ethereum project are developing faster than expected, while the process of the PoS network transition fails to meet the deadline.

In April 2019, the ETH network difficulty began to grow again, with the current value of around 2,498 terahash per second (with one TH/s equal to 1 billion hashes per second). Whats more, if the growth trend remains the same, the Ice Age can occur much faster than the appointed date. This can lead to miner withdrawal, reduced scalability and even a network crash.

The postponement of the Constantinople hard fork to January 2019 led to a drop in the number of ETH mined per day, as the ETH supply saw its value decrease by 35% in just two months. Mining had become more difficult, and as a result, the daily issuance of the cryptocurrency fell from 20,000 ETH in January to 13,000 ETH in March. Now, the daily value comprises 11,872 ETH and continues to decline further.

The current situation has already raised concerns among miners. Whats more, the coming months may become critical for the mining industry if the ETH developers and network participants fail to find a compromise.

According to Susquehanna, a global trading firm, since November 2018, ETH mining using video cards has reached zero profitability. In less than 1 1/2 years, the average monthly ETH production profit per GPU has fallen from $150 to zero.

The market is affected not only by the increasing block difficulty and competition in the mining equipment industry, but also by the superiority of Bitmain and its new Antminer ASIC miners. Another decisive factor is the price of the second-largest cryptocurrency, which fell around 10 times from the levels seen in December 2017, when it stood at $1,401.

The activation of the difficulty bomb could make mining even more unprofitable, which could lead to miners leaving the network and individual pools dominating the market. Even partial withdrawal of miners can jeopardize the security of the Ethereum blockchain, as well as increase the likelihood of a 51% attack similar to the one that occurred on the Ethereum Classic network.

Related: As ProgPoW Aimed at Stopping ASIC Mining Gets Supporting Votes, New Conspiracies and Debates Appear

At the same time, many miners are betting on another potential update called ProgPoW. This upgrade involves replacing ASIC miners with more traditional equipment like the video cards. However, its implementation in the Constantinople update has not yet been planned.

Notably, while in the event of the voluntary refusal of miners to support the network, there will still be those who will ensure its operation but with the full onset of an Ice Age, mining will simply become impossible.

Some experts, however, believe that the difficulty bomb mechanism is a necessary procedure designed to ensure the transition to PoS, and it should not scare the miners. For example, Vlad Miller, CEO of blockchain platform Ethereum Express, told Cointelegraph that many miners will still be able to continue operating:

The transition of ETH to PoS is not only inevitable, but also an integral step for Ethereum development.

Miller went on to add that despite the fact that mining as it is now will become less attractive, in the long run, the change will prove to be worth it because electricity costs will be reduced and the likelihood of a 51% attack will be lower. He went on to add:

Neither the Ice Age nor Ethereum 2.0 mean the end for miners. Many of them will switch to mining other coins, such as Zcash or Ethereum Classic. Those who are mining Ether, have nothing to fear in the near future. However, it's important to ensure the mining equipment will be paid back before the transition to PoS is made.

At the same time, an increase in block time leads to a decrease in the Ethereum networks ability to process data. Nevertheless, the current limitations are set precisely taking into account the block time and can be changed if necessary. The only negative effect may be an increase in the confirmation time of a transaction. While the release of one block in the Bitcoin (BTC) network takes an average of 10 minutes, a time of one minute can be a viable approach for Ethereum, especially if its a temporary measure.

If the hard fork is delayed again, it could negatively affect the network bandwidth and lead to a rise in fees, since the complexity can increase to the level where production of one block will take about two minutes. Now, the Ethereum block production time, on average, is about 15 seconds, with the commission rate stable at half a cent.

An exponential increase in ETH mining difficulty will lead to an increase in the extraction time of new coins to prohibitive values. As such, blocks will be generated slower and transaction confirmation time will increase, making the network very slow or even forcing it to stop functioning.

The drop in the scalability of the Ethereum network due to a possible approach of the Ice Age could be tragic for decentralized applications. Today, Ethereum is a haven for numerous DApps from various blockchain games and projects with their own tokens to increasingly popular decentralized finance solutions.

However, as the number of DApps grows, the Ethereum network will start to experience more and more problems with transactional throughput. Back in August, Buterin said that the Ethereum blockchain is almost full, which is cause of concern. Eric Conner, a product manager at Gnosis a firm developing prediction markets applications told Cointelegraph that DApps might feel the impact of the difficulty bomb, though it wouldnt be that critical.

For dapps really no direct impact but since there are less blocks a day, transaction fees on the network will slowly go up, which means over times dapps would get more expensive to use, Conner claimed.

Whether Ethereum developers will be able to find a compromise in this situation is not yet clear. The resolution of the issue is further complicated by the possible consequences of the Istanbul hard fork. Some decentralized projects, such as Aragon and Cyber Network, fear that the update will disrupt their smart contracts and increase the cost of operations within the network by 30%.

Last week, the Ethereum developer team raised the issue of delaying the difficulty bomb again by proposing a hard fork called Muir Glacier. The discussion was held between not only platform developers, but also with miners and other market participants.

Among the possible solutions discussed were both a delay of difficulty bomb mechanism as well as its complete removal. In particular, Ethereum developer Aleksey Akhunov stated that the ratio of risk and profitability from using this mechanism is not great so far.

At the beginning of the year, Afri Schoedon, a former developer of the Parity Ethereum client, suggested completely abandoning the difficulty bomb and removing this mechanism from the protocol to eliminate the need to constantly delay its activation:

I personally dont want to deal with [the difficulty bomb] anymore. Serenity is not happening this year and most likely not next year. So why bother?

However, not everyone agrees with this point of view. For example, Marcus Ligi, creator of the Walleth Android wallet, believes that removing the difficulty bomb will lead to Ethereum network updates being implemented less often and, therefore, miners becoming less incentivized to update their software and equipment.

Therefore, network will significantly slow down, and there will also be a risk of boycotting the transition to updated versions of the ETH blockchain, in particular the one in which the PoS algorithm will finally be implemented. However, Conner from Gnosis, for example, opposes the complete removal of the difficulty bomb, referring to possible negative reaction from the community.

While the Ethereum developers havent agreed on a long-term program for working with the difficulty bomb, in the short term, they decided to postpone this mechanism for a couple of years.

James Hancock, the coordinator of Muir Glacier, said that the hard fork would push the bomb "as far as is reasonable.'' This will give developers time to understand whether its necessary to modify the Ice Age mechanism so that its behavior becomes predictable or else to completely remove it.

According to Tim Beiko, product manager at blockchain solutions firm PegaSys, the hard fork will be launched at block number 9.2 million, which will tentatively be generated on Jan. 6, 2020. If Muir Glacier succeeds, it will freeze the bomb until after another 4 million blocks, which means that Ethereum would not be threatened by the prospect of an Ice Age for the next couple of years. Conner expressed his expectations to Cointelegraph:

There wont be much impact felt before block 9.2mn. The worst well see is maybe 18 second block times which isnt enough to cause issue.

Hudson Jameson, a core developer liaison at the Ethereum Foundation, shared the same opinion, adding that Ethereum users and miners should know that there are no critical threats posed by the difficulty bomb and that all it does is increase the block times. He told Cointelegraph:

While annoying for sure, it is not critical and will be quickly remedied in Muir Glacier in January. We have always delayed the difficulty bomb in the past and plan to again in January with the Muir Glacier network upgrade. There will be a long delay built into the next difficulty bomb delay code. We are also discussing different options for how to handle the difficulty bomb post-Muir Glacier.

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Ethereum Ice Age May be Imminent If Miners Withdraw From Network - Cointelegraph

Dev says MakerDAO attackers could turn $20M in Ethereum into $340M almost instantly – The Next Web

A software developer claims to have found a way in which to make an incredibly profitable but expensive attack to steal all the Ethereum available in MakerDAO.

Micah Zoltu described the potential attack in a blog postpublished on Monday, noting a successful attack could see the hacker ride off into the sunset with $340 million worth of Ethereum.

The problem is, Maker Foundation has decided that the appropriate value for this governance delay is 0 seconds. That is right,defenders have 0 seconds to defend against an attacklaunched by a wealthy but malicious party, he adds in the post.

The issue, Zoltu notes, lies in the way in which MakerDao is governed. Some groups of plutocrats can control how the system behaves.

In order to carry out the attack, the hacker would have to deploy approximately $20 million (40,000 MKR), which wouldnt necessarily be straightforward. CoinDesk reports that the person would need to buy MKR without affecting the price, which is, of course, unlikely.

Zoltu claims Maker has been aware of the issue since before Maker v2 launched.

Despite this, they arechoosingnot to plug the hole (the plug is easy). Because of that, I do not believe that it would be responsible for me to keep my mouth shut and hope that no attacker figures out what should be obvious to anyone who understands Makers governance model, he notes.

Back in October, MakerDAO disclosedanother dangerous security flaw that could have potentially allowed an attacker to stealEthereum ETH powering its then-unreleasedmulti-collateralDaiwith a single transaction. This couldvedone untold damage to the credibility of the MakerDAO system.

At the time, a HackerOnedisclosure reportrevealed the attack was made possible due to the complete lack of access control in a MakerDAO smart contract, whichallows the system to auction collateral in exchange for DAI cryptocurrency once loans are liquidated.

Published December 9, 2019 16:20 UTC

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Dev says MakerDAO attackers could turn $20M in Ethereum into $340M almost instantly - The Next Web

Ethereum Price Unmoved by ‘Missing Link to Mass Adoption’ – Cryptonews

Source: iStock/rclassenlayouts

It's been almost a week since an important Ethereum (ETH) scalability solution was announced, but the market is still unimpressed by the missing link to mass adoption of Ethereum.

On December 5, Matter Labs, a developer of scaling and privacy engine for Ethereum, announced this link by introducing their vision for the ZK Sync solution and launching its developer network.

At full throttle, ZK Sync, if enforced, Ethereum would process over 3,000 transactions per second (TPS) without sacrificing privacy and security while remaining decentralized.

This would be a huge improvement since at present, Ethereum can process 15 TPS at peaks. Compared, Visa processes 2,000 TPS, while Bitcoin (BTC) does 7 TPS.

However, developers did not provide any estimates when this solution might be implemented, only saying that the v0.1 devnet is the first step on the long journey and it will take a lot of research, experimentation and development effort.

It seems that the market has decided to wait for the end of this journey - since December 5, ETH has been trading sideways, mostly moving together with the rest of the market.

At pixel time (18:05 UTC), ETH trades at c. USD 146 and is down by almost 2% in a day and a week, increasing its monthly losses to more than 23%.

ETH price chart:

However, on the bigger picture, bulls are in command as performance over the past year has been more impressive. After plunging to sub USD 100 levels at the depth of last years crypto winter, ETH is up 59% in a year, despite the price dropped by almost 60% since June, when it surpassed USD 330.

Traders were hoping for ETH prices to snap back to 2017s bull trend given the optimism of Ethereums developers and implementations of the Constantinople and Istanbul upgrades, on the way to Ethereum 2.0, which should make the network faster, particularly addressing the scaling and mining issues.

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Ethereum Price Unmoved by 'Missing Link to Mass Adoption' - Cryptonews

Ethereum could soon enable thousands of transactions per second – CryptoSlate

Over the weekend, Ethereum went through a significant software upgrade, dubbed Istanbul. The hard fork brought several improvements to the network. And, it allowed the integration of a second layer scaling solution that promises to enable more than 3,000 transactions per second (TPS) while maintaining decentralization and privacy.

Earlier this year, Matter Labs received a grant from the Ethereum Foundation for their work on a second layer scaling solution with zero-knowledge proofs. Since then, the team is working to build ZK Sync. This is a trustless scaling and privacy solution that emphasizes on user and developer experiences.

According to Alex Gluchowski, the founder of Matter Labs:

A successful solution to the scaling problem in public blockchains is not only a matter of high transaction throughput. It must also be defined as the ability of the system to meet the demands of millions of users without sacrificing decentralization. The prerequisites of mass crypto adoption include high speed, low cost, smooth UX, and privacy.

ZK Sync was designed to bring thousands of TPS to Ethereum while keeping the funds secure and maintaining a high degree of censorship-resistance. With the help of ZK Rollup technology, the second layer solution can hold funds in a smart contract on the mainchain while computing and storing transactions off-chain.

ZK Rollup keeps the security features of the underlying protocol. As a result, validators can never corrupt the system or steal funds. Users will always be able to recover funds even if validators do not cooperate. And, not even a single trusted third party needs to be online to monitor blocks to prevent fraud.

At the moment, the devnet for ZK Sync v0.1 is live, and it is the first step to take advantage of the full potential of this technology.

Gluchowski assured:

ZK Sync is going to be a bridge for bringing millions of users into crypto. We are setting a high bar for user experience and will demonstrate that zk-technology is capable of providing a Web-like experience without sacrificing the values of the blockchain revolution.

Ethereum has been struggling with crippling congestion over the last few years. The blockchains network utilization surpassed 90 percent several times in 2019, for instance, making it costly to run applications and use. The congestion is mostly a function of ETHs 15 TPS bottleneck.

Even Vitalik Buterin, Ethereums figurehead, admitted to the limitations that could impede this blockchain from realizing its potential as a widely adopted world computer.

Buterin affirmed:

Scalability is a big bottleneck because the Ethereum blockchain is almost full. If youre a bigger organization, the calculus is that if we join, it will not only be more full but we will be competing with everyone for transaction space. Its already expensive and it will be even five times more expensive because of us.

Now, time will tell whether Matter Labs second layer solution will indeed solve the scalability issues that the Ethereum network is facing. And, bring with it a VISA-scale throughput of thousands of transactions per second.

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Ethereum could soon enable thousands of transactions per second - CryptoSlate

Ethereum: What Could Turn its Underperformance? – FXStreet

Overview

The prices of Ethereum has been underperforming bitcoin this year, as the second-largest cryptocurrency gained less than 5% this year, while BTC has still maintained its staggering 95% YTD gains despite the previous selloffs. In light of the successful implementation of the latest Istanbul network upgrades, and the rising popularity of the DeFi, does playing the catch-up game with ETH means a viable strategy for investors? From a macro perspective, Ethereums approval among financial institutions has been rising noticeably, what does that mean for the broader ETH investors?

Bitcoin has always been the most widely quoted cryptocurrency in the world, it often acts as a benchmark of the broader crypto space, and its performance has been a significant market focus since the very first day. Indeed, the cryptocurrency markets look a lot different now than the time bitcoin made its first debut. The rapid development in the crypto space has widened the broader crypto spectrum, resulting in the rising investment and application appetite for altcoin like ETH, XRP, and EOS. Despite the massive ETH rally in late 2017 to early 2018,the prices of ETH have been significantly underperforming BTC this year.

Figure 1: Ethereum vs. Bitcoin YTD Performance (Source: Tradingview)

While many factors may have attributed to ETH's underperformance, giving a multi-layer analysis could provide us with a more comprehensive look at the Ethereum, and whether the prices of ETHhave the potential room to make a decisive turn in the long run.

In the age of the internet, investors sometimes could find difficulties to value new economy companiesusing conventional valuation methods, FAANG stocks are good examples of that.Despite the over-valued criticisms, the group of the most influential tech giants has been one of the critical drivers of the equity markets for quite sometimes.

Similar to the FAANG stocks, many believe that cryptocurrencyis also a network value-driven asset, meaning that the more people use it, the higher the value it will be.There were more than 81 million unique addressesin the entire Ethereum network, and the number has been growing solidly since early last year.

Figure 2: Ethereum Unique Address Growth Chart (Source: Etherscan.io)

However, things would look less robust when considering the usage factor. The number of Ethereums active addresshas stabilized at around 300K levels since touching 600K in June 2019. Similarly, bitcoins active address number has been mainly fluctuating in the range of500K to 700K in the second half of this year, after reaching 900K in late June.

Figure 3: Ethereum vs. Bitcoin Active Addresses 1-Year Chart (Source: Bitinfochart)

Another layer of assessment we can add to the Ethereum blockchain is the emergence of DeFi.

Maker has been a leader in the Ethereum-based DeFi space, and its smart contract managed platform allows users to stake, trade, and borrow crypto assets. In November, MakerDAOs protocol upgrade has created multi-collateral DAI, or MCD, which accepts ETH as collateral for DAI generation.

Ethereum is the single largest mainstay of the whole DeFi world. Data from DeFiPulse shows that DeFi has locked up as much as ETH 2.7 mln in the system, representing 2.5% of the total ETH supply. Maker alone has held up at least USD 325 mln in DeFi, which makes up about half of that DeFi locked up potion.

Markets seem to be buying DeFis promisingoutlook andhave been gaining traction elsewhere. We believe that Ethereum is well-positioned to benefit from the growth of DeFi in the long term, and we expect to see an increasing number of high-value transactions coming through to the Ethereum blockchain, and that could be an underlying positive for the prices of ETH over the long run.

Figure 4: Ethereum Number of Transactions & Volume (Source: IntoTheBlock)

Figure 5: Total Value Locked (USD) inDeFi (Source: DeFiPulse)

From a macro perspective, the born of DeFi has also shifted the markets expectations on Ethereum. From being a utility token to more of a high-value transaction settlement application. Moreover, while bitcoin has long been considered a store of value, DeFi could also pave the way for Ethereum to strengthen its store of value character. We expect this shift to become more evident in 2020, alongside the rapid expansion of the DeFi markets.

Increasing enterprise interest could be another fundamental factor that could shape the future development of Ethereum, especially in the banking sector.

Earlier this month, banking giant Standard Charteredannouncedtheparticipation of the Enterprise Ethereum Alliance. The EEA claims that its an organization committed to developing an open, decentralized web, and blockchain specifications for businesses and consumers worldwide. Other major multinational banks like JPMorgan, ING, Citi, and BBVA, are already members of the EEA.

While this may not be StandCharts first blockchain investment, the bank has also been in a strategic partnership with Ripple, especially on the payment front. However, onboarding the EEA not onlysignaling the bank would like to embrace the blockchain technology further, but also perhaps with afocus on Ethereum, or even ETH.

Theres yet a timeline for any upcoming Ethereum project from Stand Chart. Still, a lot is going on in the EEA. One of the examples would be JP Morgan-backed Quorum, and we could see moresimilar projects coming out from primary EEA members in the foreseeable future.

Besides, Ernest & Young proclaimed that it had made a significant technology breakthrough, whichallows private transactions on the public Ethereum blockchain with much lower cost.With that, we could expect to see more businesses to transfer ETH and other Ethereum-based tokens privately on the public blockchain.

The underperformance of ETH prices has been getting more noticeable since 2Q19.Investment demands, the cost of achieving consensus, network speed, and other market factors may have attributed to the disadvantage of the Ethereum network and ETH prices. However, the rising of DeFi, thegrowing enterprise interest, and the network upgrades could help to set Ethereum as a critical infrastructure of the digital finance world. Those developments could be a major driver of the ETH prices for the long term.

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Ethereum: What Could Turn its Underperformance? - FXStreet

What the Ethereum community regrets about its largest annual event – Decrypt

Members of the Ethereum community have expressed concerns about the location of its third developer-focused event, known as Devcon 2, held back in 2016.

Matthew Light, an active participant within the Ethereum developer community, who was responsible for the first improvement proposal designed to reduce the inflation rate of ether (ETH), posted his concerns on the Ethereum communitys Reddit board. He argued that the event, which was held in China, shouldnt have been located there due to its human rights record. The post saw 366 upvotes, which dont necessarily mean endorsement.

The post was in reference to recent revelations exposing the atrocities committed by China in its treatment of Muslims.

In the thread, Light acknowledges that these cruelties were mostly unheard of back in 2016. Nevertheless, he stressed that future Devcons should endeavor to avoid any similar countries.

Be the first to get Decrypt Members. A new type of account built on blockchain.

"I would hope that Devcons will be held in countries not actively practicing genocide against segments of their own population. I also think basic standards of personal liberty should also be required, such as access to an uncensored Internet," he wrote.

One community member pointed out that the post was made just after China banned access to the Etherscan websitea popular way of searching the Ethereum blockchainas the country cracks down on crypto while promoting blockchain.

However, not everyone was sold. China represents a fifth of the world's population, isolating them from this technology even more isn't going to help anyone, one user replied. Another commented, Crypto in general is a liberation movement. You want more conferences in countries with oppressive regimes. It's much more important for them.

I'm not saying that there should be no Ethereum conferences in China. Light replied, adding, I'm saying the annual global flagship Ethereum conference should not be held in a country where you have to use VPNs to access the Internet.

He may be right, Chinas latest move was to fire up its Great Cannon to launch a cyber attack at a website used by Hong Kong protestors. On the other hand, perhaps splitting up the West and the East makes things harder for those in such countries. As one Redditor put it, Having a Pride parade in San Francisco is cool. Having one in Tehran would be a whole lot cooler.

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What the Ethereum community regrets about its largest annual event - Decrypt

Ethereum Trapped Beneath Multi-Year Resistance as Analysts Target Further Losses – newsBTC

Ethereum and most major altcoins have been closely tracking Bitcoins price action as of late, and the aggregated market has been unable to find any decisive momentum over the past few weeks. This lack of momentum has caused ETH to hover around the $150 region as bulls and bears remain deadlocked.

Analysts are now noting that Ethereum may soon see significantly further losses as it fails to break above a descending resistance line that has held strong for two years.

At the time of writing, Ethereum is trading up marginally at its current price of $149, which marks a slight climb from its daily lows of $147.

Over the past week, Ethereum has found itself caught within an incredibly tight trading range between $144 and $152, and it appears that this trading range been tightening, as ETH has been trading between $148 and $150 over the past couple of days.

This bout of sideways trading came about after ETH incurred tremendous volatility in the latter part of November, when the cryptocurrency plummeted from $190 to lows of $135, which occurred concurrently with Bitcoins capitulatory drop to lows of $6,500.

This lackluster price action as of late has made it unclear as to whether or not the markets recent lows will mark a long-term bottom, or if they will face further losses before finding any significant support that can help establish a long-term bottom.

Teddy, a popular cryptocurrency analyst on Twitter, elucidated why he is currently bearish on Ethereums price action in a recent tweet, noting that its inability to break above a multi-year descending resistance line is one factor that signals that further losses are imminent for the cryptocurrency.

#ETHEREUM | $ETH: Unless Istanbul, the latest hard fork can generate a new wave of interest this bad boy: is hitting lower support levels and thus cover those gaps burning my eyes look at that 2 year long resistance, NOT a scratch. @VitalikButerin maybe you can pump it, he explained while pointing to the chart seen below.

While looking at this chart, it appears that Teddy is targeting 0.011 BTC for Ethereums next price target, which would mark a notable decline from its current BTC price of 0.0197 BTC.

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Ethereum Trapped Beneath Multi-Year Resistance as Analysts Target Further Losses - newsBTC

Ethereum Search Interest Hits Near Three-Year Low as Price Struggles to Hit $150 – CryptoGlobe

/latest/2019/12/ethereum-search-interest-hits-near-three-year-low-as-price-struggles-to-hit-150/

Search interest for the cryptocurrency spaces number one altcoin, Ethereum, has dropped to a near three-year low as Google searches for ETH are below their early 2017 levels.

According to data from Google Trends, search interest for the keyword Ethereum is now at 6 out of 100, as it has maintained a steady decline from the 100 registered in December of 2017, shortly before ether hit a new all-time high of about $1,400.

Source: Google Trends

The data shows that in July of this year the cryptocurrency had a spike in search interest to 30 out of 100, but it kept on declining since. The search interest rise in July coincided with the launch of the Grayscale Ethereum Trust (ETHE) on over-the-counter (OTC) markets, allowing retail investors to buy ETHE Shares and gain exposure to the cryptocurrency ecosystem through it.

At the time, a mysterious whale bought around 20,000 ether tokens, worth $4.3 million, on leading crypto exchange Binance. At the end of June, Ethereums daily transactions managed to surpass one million, reaching a 13-month high as interest was peaking. Now, total daily transactions on the ETH blockchain average 600,000-700,000.

Googles data shows the regions that maintain a large interest in Ethereum include China, Gibraltar, and Kosovo. Search interest has been relevant in the cryptocurrency space as its widely believed it may help indicate future price performance.

A study conducted by search engine marketing firm SEMRush found, back in 2017, that bitcoins price had a 91% correlation with crypto search interest on Google at the time. Its worth noting the study may not apply now, or to other cryptocurrencies.

While bitcoins price has grown exponentially since the December 2018 low of $3,200, ethers price performance has been lacking in comparison. The number one altcoin saw its price drop to a $90 low late last year, and manage to recover to a $300 high in July when search interest for it peaked this year but has since been dropping.

ETH is currently trading at $145.3, as its price has still risen little over 60% so far this year.

Source: CryptoCompare

Google searches for the privacy-centric Brave browser, which rewards users for viewing ads in its Basic Attention Token (BAT) surged last month after the release of its 1.0 version. Brave notably rewards users in BAT, an ERC-20 token transacted on the Ethereum blockchain.

Featured image via Pexels.

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Ethereum Search Interest Hits Near Three-Year Low as Price Struggles to Hit $150 - CryptoGlobe

Ethereum Price Weekly Forecast: ETH Reversal Could Unfold Above $158 – newsBTC

Ethereum price is trading above a few important supports against the US Dollar, similar to bitcoin. ETH price needs to settle above $158 for an uptrend reversal.

At the end of the last month, Ethereum tested the $158 resistance area against the US Dollar, where it faced a lot of hurdles. A high was formed near $158 and the price started a downside correction.

It broke the $152 support and remained well below the 100 simple moving average (4-hours). Moreover, there was a break below the 23.6% Fib retracement level of the upward move from the $132 swing low to $158 high.

However, the $144 and $145 levels are acting as strong buy zones. Besides, the 50% Fib retracement level of the upward move from the $132 swing low to $158 high is acting as a support.

At the outset, there is a key contracting triangle forming with resistance near $150 on the 4-hours chart of ETH/USD. The triangle support is near the $144 area.

Therefore, a successful break below the $144 support might start another bearish wave below the $140 level. The next major support is near the $132 swing low. Any further losses could lead Ethereum price towards the $125 zone.

On the upside, there are many resistances, starting with the triangle resistance near $150. If there is an upside break above $150 and $152, the price could revisit the $158 resistance area.

To start a fresh increase and uptrend, the price must settle above the $158 resistance and the 100 simple moving average (4-hours). In the mentioned bullish case, the price is likely to rally above the $160 and $165 levels. The next major resistance is near the $172 level.

Ethereum Price

The above chart indicates that Ethereum price is trading above an important support near $144. As long as there is no bearish break below the $144 support, there are high chances of a strong rally above the $152 and $158 resistance levels.

4 hours MACD The MACD for ETH/USD is currently losing strength in the bullish zone.

4 hours RSI The RSI for ETH/USD is currently declining and it is below the 50 level.

Major Support Level $144

Major Resistance Level $158

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Ethereum Price Weekly Forecast: ETH Reversal Could Unfold Above $158 - newsBTC

Ethereum and Stellars Lumen Daily Tech Analysis 09/12/19 – Yahoo Finance

Ethereum

Ethereum rallied by 2.22% on Sunday. Reversing a 0.93% fall from Saturday, Ethereum ended the week down by 0.17% to $150.68.

A bearish start to the day saw Ethereum fall to an early morning intraday low $146.36.

Ethereum slipped through the first major support level at $146.46 before finding support from the broader market.

Tracking the broader market, Ethereum rallied to a late afternoon intraday high $152.0.

Ethereum broke through the first major resistance level at $149.14 and the second major resistance level at $150.85.

Late in the day, Ethereum fell back through the second major resistance level before bouncing back to $151 levels.

A final hour sell-off, led to a pullback through the second major resistance level for a 2nd time to reduce the upside on the day.

The extended bearish trend, formed at late April 2018s swing hi $828.97, remained firmly intact. A reversal from Junes current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.

At the time of writing, Ethereum was down by 0.09% to $150.55. A bullish start to the day saw Ethereum rise to an early morning high $151.25 before falling to a low $150.37.

While steering clear of the major support and resistance levels, resistance at $151 pinned Ethereum back early on.

Ethereum would need to steer clear of sub-$150 levels to support another run at the first major resistance level at $153.0.

Support from the broader market would be needed, however, for Ethereum to break out from $151 levels.

Barring a broad-based crypto rally on the day, Ethereum would likely struggle to break through Sundays high $152.0.

Failure to steer clear of sub-$150 levels would bring the first major support level at $147.36 into play before any recovery.

Barring an extended sell-off through the day, however, Ethereum should steer clear of sub-$147 levels.

Major Support Level: $147.36

Major Resistance Level: $153.0

23.6% FIB Retracement Level: $257

Story continues

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Stellars Lumen rose by 1.96% on Sunday. Reversing a 0.24% decline from Saturday, Stellars Lumen ended the week down 1.49% at $0.056891.

A bearish start to the day saw Stellars Lumen fall to an early morning intraday low $0.05510 before finding support.

Stellars Lumen fell through the first major support level at $0.0555 before striking a late intraday high and day end of $0.056891.

Stellars Lumen broke through the first major resistance level at $0.05640 to come against the second major resistance level at $0.0569.

The extended bearish trend remained firmly intact, reaffirmed by 24th Septembers new swing lo $0.051614. Stellars Lumen continued to fall short of the 23.6% FIB of $0.1310 following a pullback from $0.13 levels in late June.

At the time of writing, Stellars Lumen was down by 2.01% to $0.055746. A bearish start to the day saw Stellars Lumen slide from an end of Sunday $0.056891 to an early morning low $0.055746.

Stellars Lumen left the major support and resistance levels untested early on.

Stellars Lumen would need to move through to $0.0563 levels to support a run at the first major resistance level at $0.05750.

Support from the broader market would be needed for Stellars Lumen to break back through to $0.0560 levels.

Barring a broad-based crypto rally, however, Stellars Lumen would likely fall short of $0.057 levels on the day.

Sundays high $0.056891 would likely limit any upside on the day.

Failure to move through to $0.05630 levels could see Stellars Lumen struggle throughout the day.

A fall through the first major support level at $0.05570 would bring sub-$0.055 levels into play before any recovery.

Barring a crypto meltdown, however, Stellars Lumen should steer clear of the second major support level at $0.05450.

Major Support Level: $0.05570

Major Resistance Level: $0.05750

23.6% FIB Retracement Level: $0.1114

38% FIB Retracement Level: $0.1484

62% FIB Retracement Level: $0.2082

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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Ethereum and Stellars Lumen Daily Tech Analysis 09/12/19 - Yahoo Finance

Crypto Market Update: Bitcoin (BTC), Ethereum (ETH) See Mild Green While Tezos (XTZ) Storms into Top – U.Today

The Tron CEO Justin Sun announced that TRX is going to be listed on the American arm of Binance (Binance.US) along with almost 20 other digital assets.

Back in early August, Sun stated to the community that getting Trons coin listed on Binance.US and Coinbase had become a top priority for him and that a whole team was going to work on it.

Now, the goal is about to be achieved regarding Binance.US.

Unlike some other cases, when the head of Tron failed to accomplish what he had publicly promised the charity lunch with the global investment guru Warren Buffett which never took place this time Justin Sun has not disappointed the community.

In a tweet today, he stated that TRX is among 18 coins that will be added to the Binance.US trading list soon.

The announcement has been made only recently, so there are no comments in the thread to see the communitys reaction. But Tron fans obviously will be happy.

Today, on its official Twitter page, the Poloniex exchange, whichhas Justin Sun as one of its major investors, announced its intentionto give its users some new opportunitiesto earn. The platform says it is going to start from TRX later in December, apparently, allowing users to earn this major Tron-based coin. Other crypto assets will be added gradually too.

In the comment thread, someTron community membersassumed thatPoloniex wastalking about crypto staking.

As reported by U.Today earlier, recently Poloniex acquired the Tron-based dex TRXMarket and rebranded it as PoloniDEX.

Some believe that Justin Sun is not only one of Poloniex major investors but also one of its decision makers. When Poloniex recently announced Digibyte (DGB) to be delisted overaccusations against the exchange regarding TRX, some accused Justin Sun of initiating that decision.

However, he tweeted in response that the Poloniex team makes all decisions independently. Still, he approves of them, Sun said.

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Crypto Market Update: Bitcoin (BTC), Ethereum (ETH) See Mild Green While Tezos (XTZ) Storms into Top - U.Today

Top 3 price prediction Bitcoin, Ethereum, Ripple: Market ready to launch, not knowing who will lead it – FXStreet

All stories that are important enough to be told have moments of suspense that keep the audience on edge.

One of these stories is the intense and profound relationship between Ethereum and Bitcoin. The story approaches a moment of decision, where what happens can mark the future, not only of the relationship between the King and the Prince but of the global cryptocurrencies market.

The ETH/BTC pair went into the bearish mode in June 2017 when it reached a value of 0.15. Since then, the relationship has suffered from intense ups and downs until it is currently at its lowest level in the 0.020 range.

The current bearish trend line (A) has been thrown over the spot price and firmly pushes the price down. The hypothetical scenarios are simple, either exceed the trend line and survive or are crushed and take direction to the residual value of Ethereum concerning Bitcoin.

The market kept the hope that the implementation of the Istanbul update, part of the way to the PoS (Proof of Stake) protocol, would boost the bullish side of the pair, but it has not.

The ETH/BTC pair has margin until the end of the current month to define itself, although if volatility increases, we will be able to see the end of the story much earlier.

The ETH/BTC pair is currently trading at the 0.0199 price level and remains below the critical support level, crushing the patience of traders who know the importance of the 0.020 level.

Above the current price, the first resistance level is at 0.0205, then the second at 0.0223 and the third, already within a new scenario, at 0.025.

Below the current price, the first support level is at 0.019, then the second at 0.018 and the third one at 0.017.

The MACD on the daily chart shows a flat profile, reflecting the pair's declining volatility. The last few sessions have gained some uptrend, but it is not moving to the price at the moment.

The DMI on the daily chart shows bears with a mild bullish trend, which bulls also replicate, although from a lower level of trend strength.

BTC/USD is trading at the $7.469price level, remaining in the same range as in the last two weeks. The main moving averages are in the $8,000 range, slightly downward inclined, adding downward pressure to the price.

Above the current price, the first resistance level is at $7,600, then the second at $7,725 and the third one at $7,850.

Below the current price, the first support level is at $7,400, then the second at $7,100 and the third one at $6,850.

The BTC/USD pair should not close below the third support level to avoid a more bearish scenario, with a target at the $5,000 level.

The MACD on the daily chart shows a strong bullish profile. A further price decline should be interpreted as a capitulation move, as it is improbable that a downward movement will spread over time.

The DMI on the daily chart shows how the bears continue to lose strength as the bulls gain it, and both are heading towards a cross point in the next few days.

ETH/USD is currently trading at the $149.3price level and maintains the tension between those who need to see the price above the $150 level.

The base of the current bullish channel is very close, and a further visit to the $135 level should not be ruled out.

Above the current price, the first resistance level is at $150, then the second at $155 and the third one at $150.

Below the current price, the first support level is at $140, then the second at $136 and the third one at $130. This third support level is already in another scenario that could bring the price back below $100.

The MACD on the daily chart shows a perfect bullish cross, which may take more or less time to consummate, but adds upward pressure in the short and medium-term. Sales may appear within a micro capitulation scenario.

The DMI on the daily chart shows how the oos continue to lose strength as the bulls gradually gain strength. The encounter between both sides of the market will increase volatility and help define the scenarios in the medium term.

XRP/USD is currently trading at the $0.227 price level and remains stuck above the base of the long-term bearish channel. The baseline is currently passing the $0.20 price level, and drilling of this level could trigger massive sales in the cryptocurrency of Ripple Ltd.

Above the current price, the first resistance level is at $0.237, then the second at $0.258 and the third one at $0.27.

Below the current price, the first support level is at $0.22, then the second at $0.20 and the third one at $0.19.

The MACD on the daily chart shows a perfect bullish cross in development. Any downward movement would be terminal bearish.

The DMI on the daily chart shows the bears losing strength at a faster rate than the bulls gain it. A meeting between the two sides of the market may not occur until the last few days of the year.

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Top 3 price prediction Bitcoin, Ethereum, Ripple: Market ready to launch, not knowing who will lead it - FXStreet

Ethereum Price Analysis: ETH/USD hovers above $146.00 ready to unleash bullish potential – FXStreet

ETH/USD has been locked in a tight range since the beginning of the week. Ethereum attempted to settle above $150.00 after the Istanbul hard fork, but the upside proved to be unsustainable as the coin is changing hands at $147.20 at the time of writing.

Notably, the long-awaited network update passed unnoticed by the markets as the price has barely changed in response. The number of transactions in the network returned to the pre-fork levels after a short-lived drawdown.

Currently, over 75% of nodes moved to the new software, designed to make the network more reliable and scalable.

Looking technically, ETH/USD desperately needs to clear $150.00 barrier to proceeding with the recovery. This psychological area is strengthened by the declining middle line of the daily Bollinger Band. Once it is out of the way, the recovery is likely to gain traction with the next focus on even stronger resistance of $159.40, created by the lower boundary of the previous consolidation channel, followed by another psychological hurdle at $160.00. Considering a high concentration fo technical barriers, the bulls may have a hard time pushing the price above this resistance area.

On the downside, the strong support area is created by Sunday's low at $146.50. Once it is broken, the sell-off will continue towards psychological $140.00 and $137.75 ( the lower line of the daily Bollinger Band).

From the longer-term perspective, ETH/USD may develop a strong upside momentum once it clears SMA50 (Simple Moving Average) weekly currently at $184.00. This barrier has been limiting the coin's recovery since August. Once it is out of the way, we may proceed towards psychological $200.00 and $232.70 created by SMA200 weekly

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Ethereum Price Analysis: ETH/USD hovers above $146.00 ready to unleash bullish potential - FXStreet

Is Decentralized Finance (DeFi) Ethereums FIrst Killer Application? – Ethereum World News

If youve perused Crypto Twitter at all over the past few months, youve likely heard the term decentralized finance or DeFi tossed around in relation to Ethereum, the second-largest blockchain by the market capitalization of its cryptocurrency.

To put it simply, DeFi is applications that the regular world of finance handles today put onto a decentralized blockchain and implemented with Ethereum and tokens based on the network. Many DeFi applications that have launched have centered around the act of lending and borrowing stablecoins tied to the U.S. dollar; others have been focused on giving crypto traders a chance to trade with leverage in a decentralized fashion, instead of having to go through a central service like BitMEX.

Whatever the case, this segment of the Ethereum ecosystem is quickly gaining traction, with more than 2% of all Ether in circulation currently being tied up in applications related to the DeFi ecosystem, which includes MakerDAO, Synthetix, IDEX, and so on and so forth.

According to a discussion we had with Jon Jordan of DappRadar, a service tracking information about blockchains, DeFi is Ethereums first killer app, not digital kitties or on-chain gambling:

Depends on how you define killer dapp. DeFi certainly is the first category of dapps to attract significant amounts of value (both ETH and ERC20 tokens). In terms of wider issues such as user numbers, however, its not clear DeFi will attract millions of users. But, yes, DeFi is the first killer dapp category on Ethereum.

Large companies in and out of the cryptocurrency space are picking up on the potential (or threat, rather) of DeFi.

Coinbase, one of the most well-recognized crypto firms, earlier this year invested $2 million worth of USDC into protocols running finance applications to bootstrap said protocols. The premise of the fund was explained to CoinDesk by Coinbase product manager Nemi Dalal as:

The USDC tokens we deposit cannot be used for items like salaries or user acquisition. It simply provides more liquidity in the protocol, making it easier to attract borrowers (for decentralized lending protocols) and takers (for decentralized exchanges).

Binance, the worlds largest cryptocurrency ecosystem, also made a strategic acquisition of a decentralized application information and analytics service, specifically to better focus its efforts on things like DeFi and on-chain gaming.

As reported by Ethereum World News previously, the exchange just last week acquiredDappReview, the worlds leading information and analytics platform for blockchain-based decentralized applications (dapps). CoinDesk reports that the acquisition will give users easy access to explore new dapps and crypto games, as well as more insight into DeFi.

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Is Decentralized Finance (DeFi) Ethereums FIrst Killer Application? - Ethereum World News

Will Matter Labss ambitious new plan save Ethereum? – Decrypt

Matter Labs has released its plan to help the Ethereum blockchain scale to thousands, or millions, of users. An idea it has been working on for a year now, following a grant from the Ethereum Foundation.

The Ethereum blockchain struggles to handle many transactions right nownowhere near enough to support high volumes of people using the network. Whenever a platform puts any significant load on the Ethereum network, it buckles under the strain. Currently, Ethereum is undergoing a radical shift to a new blockchain that will be more scalablebut its a challenging move, and one that will take several years (although its next step, the Istanbul upgrade, will be reached tomorrow).

In the meantime, Ethereum diehards have latched onto one particular technology that offers a chance to scale in the short term: optimistic rollups. And Matter Labs has dived in and come up with a proposal that, you never know, might just work.

Today, we at Matter Labs are excited to reveal our vision for ZK Sync: a trustless scaling and privacy solution for Ethereum based on ZK Rollup, with an emphasis on superb user and developer experiences, Alex Gluchowski, founder of Matter Labs wrote, in a Medium post. Were also proud to announce the launch of the devnet for ZK Sync.

ZK Sync will be a new way to make Ethereum transactions, but in a way that doesnt bloat the blockchain or cause transaction fees to rise sky-high. At the same time, transaction information, like how much is being transferred, will be kept private.

The idea is to build a second layer solution for Ethereum, which is built on top of the network and can interact with it. It uses optimistic rollups, a technology highlighted as promising by Ethereum co-founder Vitalik Buterin, to support more transactions and people using the network.

Optimistic rollups build on the notion of sidechains, where work is offloaded to a parallel blockchain. The sidechain is used to batch a bunch of transactions together and upload them as one transaction on the main Ethereum blockchain. It means that each transaction is protected by the security of the main blockchain, but the strain on the network is lifted from it.

Matter Labss platform will also use complex cryptography known as zero-knowledge proofs to make sure that transactions are kept private. Ethereum is a transparent blockchain, so transactions can be seen by anyonebut using this technology keeps the transaction information hidden from view.

Now, many companies in the crypto space are heavily researching and experimenting with such privacy technologythink the Electric Coin Company and its Zcash privacy coinand some have been looking into optimistic rollups too, like Fuel Labs. But whats interesting about Matter Labs new proposal is that they are going to focus on user experience, something that is wholly lacking in crypto technology across the board, and a friction point for achieving the much-touted goal of mass adoption.

Gluchowski explains that the people who stick with crypto through thick and thin are those who believe in its fundamentalsbut to attract millions, or billions, of people, the technology needs to be smooth.

To attract millions of mainstream users, we need to offer them a user experience that doesnt just match these expectations, but exceeds them, he said, adding, Everything must be fast, simple, intuitive and error-tolerant.

But thats easier said than done.

Excerpt from:

Will Matter Labss ambitious new plan save Ethereum? - Decrypt

Ethereum Gets Another Big Development Boost From Ernst & Young – newsBTC

Accounting giant Ernst & Young has just released open source code that vastly improves privacy and transaction efficiency for Ethereum. The news comes just days before the network undergoes an upgrade that further reduces costs and increases security.

From a technical standpoint Ethereum is constantly strengthening, but that has not been reflected in token prices. There are some huge companies working with the platform and EY is among them. The accounting firm is using the public Ethereum blockchain to reinvent how businesses work together, it aims to bring ETH to enterprises.

In April this year, EY released a small development in Ethereum technology called Nightfall, which was designed for making private Ethereum transactions. According to a recent announcement, Nightfall has been upgraded to enable the first version of transaction batching, allowing up to 20 transactions at once under zero knowledge.

Zero knowledge (zk) is a cryptographic method by which one party can prove to another party that they know a value of something, without revealing any information about what it is they know. Effectively it allows transactions to be verified without revealing the transaction data.

The EY announcement added;

This includes both batching and a new tool for reducing Merkle tree updates called (appropriately) Timber developed by the EY Blockchain research team. We promised <$1 per transaction by the end of 2019, and we nailed it by a wide margin.

Mythos Capital founder Ryan Sean Adams acknowledged the development pointing out that it is highly cost efficient and represents a 400x improvement over their previous implementation.

EYs global blockchain leader Paul Brody has grand plans for a blockchain future based on Ethereum. Earlier this year he stated;

We believe that by 2030, more than half of all new business contracts will be done on a blockchain

The focus is on private smart contracts and that is where Nightfall comes in. The firm aims to create enterprise transactions where clients can be secure in the knowledge that none of their data, even in an encrypted form, will ever go on the blockchain.

The end game is enabling all the functionality of the Ethereum blockchain for enterprise users, with full privacy, Brody added.

When questioned on the developments Adams took a step back to explain the bigger picture.

A new money system is being invented. It operates in parallel to the traditional money system but is global, permissionless, & programmable like the internet. The big investment opportunities are in the reserve assets: BTC & ETH

Ethereum is about to undergo the Istanbul upgrade in less than two days and this will serve as the first step before a huge upgrade to ETH 2.0 can begin.

The progress has not been reflected in token prices yet as ETH is still bearish below $150 at the moment but it is only a matter of time before the winds change for the decentralized world computer.

More here:

Ethereum Gets Another Big Development Boost From Ernst & Young - newsBTC

59% of Ethereum Nodes Not Ready for Istanbul Hard Fork – U.Today

The Tron CEO Justin Sun announced that TRX is going to be listed on the American arm of Binance (Binance.US) along with almost 20 other digital assets.

Back in early August, Sun stated to the community that getting Trons coin listed on Binance.US and Coinbase had become a top priority for him and that a whole team was going to work on it.

Now, the goal is about to be achieved regarding Binance.US.

Unlike some other cases, when the head of Tron failed to accomplish what he had publicly promised the charity lunch with the global investment guru Warren Buffett which never took place this time Justin Sun has not disappointed the community.

In a tweet today, he stated that TRX is among 18 coins that will be added to the Binance.US trading list soon.

The announcement has been made only recently, so there are no comments in the thread to see the communitys reaction. But Tron fans obviously will be happy.

Today, on its official Twitter page, the Poloniex exchange, whichhas Justin Sun as one of its major investors, announced its intentionto give its users some new opportunitiesto earn. The platform says it is going to start from TRX later in December, apparently, allowing users to earn this major Tron-based coin. Other crypto assets will be added gradually too.

In the comment thread, someTron community membersassumed thatPoloniex wastalking about crypto staking.

As reported by U.Today earlier, recently Poloniex acquired the Tron-based dex TRXMarket and rebranded it as PoloniDEX.

Some believe that Justin Sun is not only one of Poloniex major investors but also one of its decision makers. When Poloniex recently announced Digibyte (DGB) to be delisted overaccusations against the exchange regarding TRX, some accused Justin Sun of initiating that decision.

However, he tweeted in response that the Poloniex team makes all decisions independently. Still, he approves of them, Sun said.

Read more from the original source:

59% of Ethereum Nodes Not Ready for Istanbul Hard Fork - U.Today

EOS, Ethereum and MATIC Daily Tech Analysis 11/12/19 – FX Empire

For the day ahead

Ethereum would need to move through to $145.90 levels to support a run at the first major resistance level at $147.90.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $146.29.

Barring a broad-based crypto rebound, resistance at $147 would likely limit any upside on the day.

Failure to move through to $145.90 levels could see Ethereum take another hit.

A fall through the morning low $144.98 would bring the first major support level at $143.49 into play.

Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $141.45.

Major Support Level: $143.49

Major Resistance Level: $147.90

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

MATIC tumbled by 49.52% on Tuesday. Following on from a 17.38% slide on Monday, MATIC ended the day at $0.017246.

It was a particularly bearish start to the day. MATIC slid from an early morning intraday high $0.034856 to an early morning intraday low and swing lo $0.011187.

The meltdown saw MATIC slide through the days major support levels before finding support.

A move back through to $0.02 levels by mid-morning was short-lived, however, with MATIC wrapping up the day at sub-$0.02 levels.

Tuesdays sell-off led to the formation of a near-term bearish trend formed at 9th Decembers swing hi $0.042821

At the time of writing, MATIC was up by 2.82% to $0.017733. A mixed start to the day saw MATIC rise from an early morning low $0.016876 to a high $0.018541 before easing back.

Steering clear of the major support and resistance levels, MATIC came up against the 23.6% FIB of $0.0186 before falling back.

Read more here:

EOS, Ethereum and MATIC Daily Tech Analysis 11/12/19 - FX Empire