Daily Archives: May 11, 2017

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Cryptocurrency exchange provider Ethbits has broken the $1M barrier in the crowdsale of its ETB token. The blockchain startup is building Ethbits Local, an exchange, currently in beta, that facilitates secure trades between people from bank accounts to cryptocurrency. Following the crowdsale success, Ethbits Local will expand its offering with iTrade, a new peer-to-peer social trading platform that offers copy trading across 15 new cryptocurrency pairs. Traders can learn from their peers and experienced traders can earn rewards for growing a follower base.

To date, 570 participants have contributed more than 11,400 ETH to see the platform developed. ETB tokens will play an essential role on the trading platform in the form of exchange fees. Participants will also qualify for quarterly dividend payouts of at least 11% of profits. Ethbits CMO and co-founder Matt Radbourne had this to say;

We are completely humbled by the support for Ethbits to raise $1M with still one week left to go on the crowdsale puts us in a great position, we are excited to now be able to bring our vision for Ethbits to life. The pre-sale of ETB tokens has raised much needed funds for development and launch of the platform

Ethbits Local is readying itself for launch immediately after the sale ends on 13th May. The addition of iTrade will take a little longer to develop and is slated for release at the end of the year. iTrade will enable face-to-face trades across a range of cryptocurrencies. To help facilitate this feature, Ethbits recently partnered with BCB ATM an expanding Bitcoin ATM service based in the UK. Ethbits iTrade platform will be linked to BCB ATMs to help people find crypto traders in their local area.

There is still a week to run on the crowdsale and with every 1000 ETH raised, Ethbits will provide token holders an additional 1% in dividends. The crowdfund will run until 13th May at 5pm UTC. To get involved see https://ico.ethbits.com.

This is a paid press release. Readers should do their own due diligence before taking any actions related to thepromotedcompanyor 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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ETHBITS Breaks $1 Million Barrier for New P2P Cryptocurrency ...

May 4, 2017  By : Aman Trivedi

Theres a discernible pattern in the interesting aspects of blockchain and the extended distributed ledger technologies over the years. We took to Google trends to map this evolution over past five years and the results are fairly interesting:

Source: trends.google.com

The X-axis depicts timeline while the Y axis quantifies Google search interest. It shows here that until late 2015, bitcoin had by far been the most popular search term pertaining to anything blockchain. The year 2015, incidentally, also marked an awakening of enterprises to the fancy technology underpinning bitcoin, while actually pushing bitcoin to the sidelines. Blockchain became the poster boy of financial technology, enjoying regular mentions in boardroom conversations. However, the beginning of 2017 revived the currency use case of blockchain because that is when the funds have started moving at an unprecedented pace.

Towards the end of the graph, we can see the yellow line approaching to overtake the red line, yet again, taking cryptocurrencies to the mainstream.

With the cryptocurrency hype just around the corner, as iterated before, there have been two major observations: 1. New money coming into overall cryptocurrency market and 2. Money flowing from bitcoin to altcoins. The Bitcoin Dominance Index shown below beautifully captures the situation at hand:

Source: coinmarketcap.com

The overall cryptocurrency market capitalization stood at ~$41b at the time of writing; however, bitcoins dominance has steadily declined from 95% in 2014 to the current 60%.

The natural question here is: do we now have better currencies than bitcoin or is the market far bigger than we imagined? Well, it seems the answer is both. Bitcoin, with its archaic transaction speed and the never-ending block-size debate, is the giant elephant which is too large to move fast and there are better currencies out there. Having said that, the fact that the cryptocurrency market has seen tremendous growth cannot be ignored. Of the current $41 billion market value, almost $20 billion was added in the past five months. And this new influx of money has greatly staggered the distribution of value across cryptocurrencies:

Source: coinmarketcap.com

Each of the currencies in the list above has its unique value proposition. Ether has smart contracts, Ripple has its network of banks, Litecoin has its segregated witness update enabling fast transactions and lighter network, Monero has its private transactions feature, and so on. That being said, trying to compare these currencies/projects is like comparing apples and oranges.

Since we attempt to study cryptocurrencies, the obvious conventional counterpart here should be well, fiat currencies. The Global Foreign Exchange markets run a daily trading volume of $5.1 trillionin April 2016, a figure which is on a steady year-on-year decline and is about 10,000 times the current cryptocurrency daily trading volume. Cryptocurrencies derive their value from government authorized fiat currencies and the former shall remain a subset of the latter for the foreseeable future. Now, lets take a look at the top fiat currencies:

Source: wikipedia.com

It is important to note here that the above structure is an outcome of numerous historical events and agreements between nations; for example, the Bretton Woods agreement cemented the worth and dominance of US Dollar. Interestingly, the underlying value of a cryptocurrency is fairly independent of the community backing it and more concerned with the technological capabilities of the protocol.

This shift from human consensus to an incentive driven machine consensus creates all the difference for cryptocurrencies and is beautifully captured by Vitalik Buterin, the creator of Ethereum:

This is one of the perfectly valid thoughts on the current state of crypto affairs and indeed, the recent events have remarkable similarities to a financial bubble. Nevertheless, the crypto-markets have an intricate involvement of underlying technology in asset pricing which might call for an altogether different perspective towards its analysis.

There are numerous ways to try to make sense out of this: some advocate for a crowd sentiment analysis considering the current big data capabilities while others advise seeking a balance between technical and fundamental analysis. That being said, we are open to hearing out ideas and perspectives on this potentially revolutionary trend; I can be reached via LinkedIn, Twitter or mail.

Aman reads and writes about distributed ledger technologies and digital identity at Let's Talk Payments. He has been active in the financial technology consulting space for over two years, looking out for novel business models, markets, products and services.

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Whats the Deal With Cryptocurrency Market Caps? | Lets Talk ...

Dash has had a great run so far as one of the more exciting projects in cryptocurrency, fueled by a large and active community focused on positivity, productivity, cooperation, and mass adoption. However, this does not mean that these values are shared by those outside the community, and the coin has attracted a certain amount of flak from players elsewhere in the space. Here are the top 5 Dash haters.

1: Riccardo Spagni

Also known as FluffyPony, Spagni is the head honcho of the head honchco-less crypto Moneros development team, the go-to figurehead for the coin. He has long made his opinions on Dash clear as one of the main adherents of the Dash is a scam line, and has had no reservations about sharing his opinion on the subject at every opportunity, including co-hosting the CryptoScam episode on Dash with Tone Vays (more on him in a bit) and airing his displeasure on Twitter.

2: Tone Vays

Bitcoin maximalist, technical analysis pundit, host of CryptoScam, and steadfast friend of the Fluffiest of Ponies, Tone Vays is one of the most consistent critics of Dash. The favorite way he con-Vays his dislike for Dash is via technical analysis tweets, where he has engaged in a long-term no wait this time Dash is about to crash predictions constituting an increasingly tortured-looking cup-and-handle pattern.

3: Charlie Lee

Founder of Litecoin, the great throwback coin and silver to Bitcoins gold, Charlie CobLee Lee is also known for his quick and sarcastic wit on Twitter. He is also known for being no big fan of Dash, throwing in humorous remarks and wordplay whenever presented the golden (silver?) opportunity.

4: Peter Todd

One of the more prominent Bitcoin Core developers, Todd is known for his tact and restraint in the highly contentious Bitcoin scaling debate, as well as for palling around with Spagni. As seems to come with the territory, he doesnt appear to be the biggest fan of the Dash.

5: Greg Maxwell

Finally, Blockstream CTO, prominent Bitcoin Core developer, and go-to /r/BTC boogeyman Greg Maxwell has recently shared some of his opinions on Dash, including his colleague Todds snakeoil line, when discussing privacy in cryptocurrency.

Did we miss any prominent Dash haters? Let us know in the comments!

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5 Biggest Dash Haters in Cryptocurrency - Dash Force News

This weekend on May 6-7 a conference is being held in Bogota, Colombia, that immerses participants into the bitcoin ecosystem by learning from the experts. Bitcoins Bootcamp is a two-day event aimed at teaching attendees how to use bitcoin, a wallet, trade with the virtual currency, and learn all the basics.

Also read:How to Disrupt Everything: the Largest Blockchain Conference Coming to Amsterdam

The Bitcoins Bootcamp conference is aimed at giving attendees total immersion into the world of bitcoin. The event is sponsored by cryptocurrency industry leaders such as Investopi, the regional bitcoin exchange Surbtc, Tropay, Wagecan, the Crypt-store, and Bitcoin.com.

In Bootcamp, you will not only learn what bitcoins are, but you can also create your own wallet, learn mining, trading, crowdlending and start using your bitcoins in the day to day, explains Bitcoins Bootcamp organizers. You will have a total immersion into the world of bitcoins hand in hand with the best experts in the region.

Attendees of Bitcoins Bootcamp will not only learn to about the decentralized currency but also hear from regional industry experts who operate virtual currency businesses in the area. This includes Juliana Matiz (Investopi), Alejandro Beltran (Surbtc), Erick Ospina (Tropay), Arley Lozano (Panda Server) and many more.

Bitcoin.com spoke with Arley Lozano, CEO, and founder of Panda Server about the Bitcoins Bootcamp event. Lozano says participants starting to learn about bitcoin are going from zero to hero during the two-day event. Currently, Lozano says there are roughly 240 participants at Bitcoins Bootcamp both attending virtually and in the fleshin the audience.

Organizers of the bitcoin training conference say the event is not a traditional webinar by any means. People participating are using computers, learning to mine, trade, and utilize bitcoins for daily activities like shopping. Lozano tells Bitcoin.com that attendees are also learning about how to avoid Ponzi schemes. Attendees also receive US$30 in BTC to open a wallet and learn to trade. Bitcoins Bootcamp organizers detail that participants will become very knowledgeable about cryptocurrencies after finishing the conference.

Panda Servers founder says hes thrilled to attend the event and be immersed in such a learning atmosphere.

The event at this moment is so great, Lozano details to Bitcoin.com. People have a chance to talk with each speaker when they are finished speaking. From my point of view, the event is really good for newbies as they are learning each step of using the virtual currency and what is bitcoin.

What events will you be attending this year? Let us know in the comments below.

Disclaimer:noticias.bitcoin.com is a sponsor of Bitcoins Bootcamp and a Media partner.

Images via Bitcoin.com, and Arley Lozano.

Do you want to talk about bitcoin in a comfortable (and censorship-free) environment? Check out the Bitcoin.com Forums all the big players in Bitcoin have posted there, and we welcome all opinions.

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Bitcoins Bootcamp Brings Cryptocurrency Education to Colombia ...

Men and women concerned in the entire world of Bitcoin and cryptocurrency at some point exhibit attributes of OCD. To be much more precise, there are folks who go through from obsessive Cryptocurrency Problem. Presented all of the hype and excitement encompassing this marketplace, that is anything at all but shocking. Nevertheless, it can trigger rather some challenges concerning mental overall health and lessen ones social life to a bare bare minimum.

Outsiders often underestimate the willpower it normally takes to not search at cryptocurrency investing charts all day. As shortly as a person owns a Bitcoin or choice cryptocurrency, they will want to hold tabs on the rate. That is only typical, even while things may perhaps not adjust all that significantly more than the study course of a day. To be much more precise, a large amount of volatility has left the cryptocurrency scene as of late, even though some currencies are even now subject to large trade swings.

Holding track of a cryptocurrencyportfolios price is not all that difficult both. In most instances, it begins out by opening a independent tab on just one of the pc screens wherever a chart is updating in actual-time. Some traders and lovers even devote a next or 3rd watch to cryptocurrency rate charts to hold tabs on things. Though that is not essentially disturbing, it can have an impact on productivity by rather a margin.

Cell phones are also a good instrument to hold track of a cryptocurrencys price. A number of mobile exchange and investing applications exist, all of which have some sort of API that can be utilised as a telephone widget. Simply change on your display screen to see the latest Bitcoin or altcoin rate you are seeking for. As soon as again, it seems innocent at initial, but it quickly becomes next nature.

This is how Obsessive Cryptocurrency Problem begins to manifest by itself. When things like examining a coins rate are section of your every day schedule, it only is a matter of time until finally the urge to do so becomes frustrating. Cost watching is a sickness, as just one Reddit consumer aptly factors out. It is difficult to not get swept up in all of the excitement when the candles change green, or the despair when things head south.

In fact, a large amount of cryptocurrency lovers go through from Obsessive Cryptocurrency Problem, yet fall short to recognize it. Staying concerned in Bitcoin and altcoins requires examining rates, which only seems purely natural to us. Nevertheless, in some instances, it begins ingesting at peoples lives, costing them snooze, minimizing their productivity, and even influencing their social life. though a significant section of our modern society is usually examining their phones, it has develop into problematic when a person keeps evident at charts and mumbling to them selves, while.

Obsessive Cryptocurrency Problem is just like any other issue folks can get psyched about, while. Grabbing for a telephone, tablet, or any other electronic system to search up precise information and facts or join to the entire world has develop into a every day schedule for most of us in this day and age of digitization. We have to have to locate a way to deal with this new form of OCD, while, as it is not a healthy enhancement by any implies.

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What is Obsessive Cryptocurrency Problem ... - good ...

The combined market capitalization of all public cryptocurrencies has surged nearly 80% over the last month, as more than $20bn worth of new investment dollars has flooded the nascent market.

In roughly 30 days alone, the market cap for experimental blockchain-based cryptographic assets has ballooned from $27.8bn to $49.5bn, according to data fromCoinMarketCap, with the strongest gains observed outside of the market's historical leader, bitcoin.

A closer look reveals the total market cap of so-called 'altcoins', cryptographic tokens that seek to serve alternative use cases to bitcoin, has surged to $23.5bn, up more than 600% from just over $3bn in early March.

Amid this sharp rally, some market observers have expressed concerns that the asset classmay have entered a speculative bubble.

When supporting his argument, Jacob Eliosoff, a trader who runs a cryptocurrency fund, pointed to not only to the price gains, but also the fact that so many cryptocurrencies including those that haven't seen technical or business progress have risen in value.

Eliosoff told CoinDesk:

"I've been making the bubble argument for weeks. Doge, Dash, Litecoin, Stellar, Gnosis ... practically every coin has surged."

Hefurther cautioned that this development is "a sign of unthinking buyers that will sell as soon as the tide turns."

Daniel Masters, director of the regulated investment vehicle Global Advisors Bitcoin Investment Fund (GABI), offered similar sentiment, emphasizing that even cryptocurrencies with smaller market caps like litecoin, ether, namecoinand ripple have all experienced strong gains over the last few months.

He told CoinDesk that he believes "sentiment [is] too strong," noting that between this and record prices for cryptocurrencies, a bubble may be forming.

While the aforementioned analysts provided cautious viewpoints, other market observers were more optimistic, asserting that cryptocurrency prices have significant room to appreciate despite current prices.

Harry Yeh, managing partner of Binary Financial, took a bullish slant, telling CoinDesk that "there's still quite a ways to move" as more investors take note of big gains in the sector.

Tim Enneking, chairman of Crypto Currency Fund, also spoke to the market's potential. "I would agree that prices have increased too far too fast, but I don't think it's a serious problem more like a buying opportunity," he said.

He elaborated on this statement, pointing out that it is challenging to determine the "true value" of a cryptocurrency:

"I'm not sure I would label it a bubble, at least not yet. It's quite difficult to definitively state what the intrinsic value is or should be of an altcoin," he said, adding:

"Property is worth what people are willing to pay for it."

One strong indicator of the bullish sentimentis robust trading. While transaction volume for many of the digital assets listed on Coinmarketcap has risen, over-the-counter (OTC) trading firms have also reported an increase in activity.

Martin Garcia, vice president of Genesis Global Trading, noted that his New York-based firm is experiencing such an improvement.

"Our new applications are up significantly, and old clients are circling back as well," Garcia said.

Ryan Rabaglia, head trader for Octagon Strategy, expressed similar sentiment.

"Our desk has had [a threefold] volume increase over the last few months and over the last few weeks we're onboarding new counterparties at a record rate," he said.

Finally, Rabaglia spoke to the changing demands of his customers, emphasizing that while bitcoin and ether are still the "hottest names," his trading desk has repeatedly received requests for trades involving lesser-known alternative cryptocurrencies such as ZEC, DASH, ETC and XRP.

Ultimately, he characterized the current market as one with abundant opportunities for his business.

He concluded:

"Up to this point we've dabbled in each and are considering dedicating more resources if the demand persists."

Disclosure:CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Genesis Global Trading.

Soap bubble image via Shutterstock

Pricesmarkets

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$25 Billion in 30 Days: Are Cryptocurrencies in a Bubble? - CoinDesk

Slowly but surely, Bitcoin and other cryptocurrencies are gaining traction in different regions around the world. South Korea could prove to be an important ally on the road to mass cryptocurrency adoption. Several exchanges are active in this market, although not all of them are known by the public. We have listed four of the main platforms serving customers in South Korea.

This fairly unknown Bitcoin exchange has been around for quite some time now. Unfortunately, they only made media headlines due to a recent hack affecting the platform. Over 3,000 bitcoins were lost, and Yapizon was forced to reduce user balances by a sizable amount to recover the losses. A reward program has been put in place to compensate affected users moving forward, though.

Another relatively unknown cryptocurrency exchange operating in South Korea goes by the name of Coinone. The company offers three main trading markets: Bitcoin, Ethereum, and Ethereum Classic. All of these currencies can be traded against the Korean Won, but not against one another. It does appear the exchange is doing quite well, though, as it generates a fair bit of volume every single day.

As we have come to see from other exchanges focusing only on fiat currency trading markets, the maker-taker fee structure depends on how much volume is traded. In the western world, a similar tactic is employed by platforms such as Kraken. It will be interesting to see if Coinone decides to add other currencies and trading pairs to its platform in the future. For now, South Korea seems very keen on ETH, ETC, and BTC, that much is evident.

One of the oldest Korean exchanges goes by the name of Korbit. The platform has built up a solid reputation over the years, mainly due to being the first BTC/KRW exchange in history. As time progressed, the company decided to add Ethereum and Ethereum Classic to its trading market as well. Interestingly enough, the platform also lists Monero, Litecoin, and XRP, although they are not openly advertised, so to speak. It looks as if all of the supported currencies can only be traded against the Korean Won as well.

Although very few people had heard about this exchange just a few months ago, things have changed quite a bit ever since. Bithumb has quickly become one of the most dominant cryptocurrency markets in all of South Korea. That is quite an impressive feat, and it looks like the overall trading volume continues to grow every single week.

It is possible Bithumb will only become more popular ever since they recently added a Litecoin trading pair. Other supported currencies include Bitcoin Dash and Ethereum, both of which can be exchanged for the Korean Won. Bitcoin is the platforms largest trading market for now, although Ethereum and Litecoin see decent daily volumes as well.

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Top 4 South Korean Cryptocurrency Exchanges - The Merkle

PAUL MITCHELL

Last updated20:16, May 9 2017

MURRAY WILSON/FAIRFAX NZ

Palmerston North retiree Bruce Thompson made over $140,000 investing in cryptocurrencies over the past year.

A pensioner stands at an airport security checkpoint with a backpack full of gold bullion, a knife and false beard.

Why? To understand that, you need to know a little about Palmerston North retireeBruce Thompsonand why he's so excited about "cryptocurrency".

Aformer IT worker, and earlyadopter,Thompson has followed the rise of digital currencywith avid interest.

SUPPLIED

People from around the world trade in cryptocurrencies through online exchanges such as Poloneix.

He's made $146,000 since he started dabbling withcryptocurrencyin June 2016, $108,000 of that in the past month and a half.

READ MORE: * A beginners guide to Bitcoin: what you need to know * Cryptocurrency in crossfire as surge in dodgy transactions reported to police intel * Agribusiness Investment Showcase startups vie for investment * KiwiSavers harshly taxed compared to property investors, book claims

Cryptocurrencies are digital currencies that use encryption to secure transactions and control how new "coins"are made.Bitcoin is the most famous, but there are others, such as Ehtereum and Dash.

Each "coin"has a unique computer-generated number, andonly a limited amount can be created. They can be used anonymously.

In mid-March, Thompson readabout amajor international bankbuying Ethereum,andsaw the currency's valuestart to tick upwards in the online exchanges.

He realised itwasabout to skyrocket. So he made a snap decision to dip into another investment he'd made over the years his gold bullion.

That's how Thompson came to be standing at a checkpointin Wellington Airport, with a bemused security guard giving him the side-eye.

The problem washis gold was in a safe deposit box in the State Insurance building in Wellington, and the vault was closing in only three hours.

He snatched up a backpack and dashed to the bus stop in Palmerston North, and arrived in thecapital with an hour to spare. And he needed every bit of it to navigate the vault's tight security,so he sprinted three blocks through thecrowded centralWellington streets.

Soon he was back on the street with his backpack$103,000 in gold bars heavier, and was ready to fly to Auckland to cash it in.

But in his rush to the vault, he'd never checked to see what else was in his backpack.

The knife was from a hiking trip, and the fake beard was part of a costume for an amateur musical production. It took some explaining, but he was eventually on his way,minus the knife.

"It was all a bit of a risk, but it has paid off hugely for me."

Thompson said he wanted to share the wealth, so he madeastarter's guide to buyingcryptocurrenciesto make it a bit easier for others to seize the opportunity.

"When you make $140,000 basically overnight, you feel a bit guilty.

"You think, how can this just be happening to me?I should tell everyone else."

He said investing in cryptocurrency wasa solid gamble, because it changed money and banking the same way digital technology was changing so many areas of life.

Thompson said people shouldn't invest with money they couldn't afford to lose, and they should practise with $10 until they got a handle on the market.

"I could be fatally wrong.ButI've got enough put aside, I own my own house, and I'm a pensioner ,so I'm all right."

-Stuff

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Palmerston North retiree makes a mint ditching gold for cryptocurrency - The Dominion Post