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1. Separate your bitcoins to hot and cold wallets

Online wallets are called “hot wallets”, since they are at high risk to network based attacks. If you are running any kind of Bitcoin online business, offline (‘cold’) wallets will be a better tool. They are way safer and they are not so attractive for hackers. It would be ideal to keep the bulk of your Bitcoin funds on the cold wallet. And for your day to day Bitcoin transactions keep just a small float of your Bitcoins on your online wallet. 

2. Store private keys offline

 In order to enhance the security of your Bitcoin wallet, remove its private keys and then store them somewhere, perhaps, in a separate computer which is not connected to the Internet. To make a payment generate the transaction on the online computer, bring it to the offline computer (on a USB stick) for signing with the private key, and then bring it back to the online computer to complete the transaction. This way, you can be sure that it will not be compromised by hacker or malware attacks.

3. Use fragmented backups

Even though you only need to make one backup of your seed ever, it is still sensible to make multiple copies of this backup and store them at different locations. If you are concerned about the physical security of your backup, make a fragmented backup. This splits the seed into, say, six fragments, with any four needed to recreate the seed. You can then store each fragment in a different location; to get access to your wallet, a thief would have to access four of the six fragments.

Source: http://telegra.ph/Top-3-Bitcoin-security-and-safety-tips-04-14

Bitcoin holds steady above $7,000 as 2 Wall Street legends reportedly eye the crypto market

Bitcoin was trading in the green, above $7,000 a coin, during Sunday's trade.
This comes after it was reported that two traditional Wall Street firms are entering the market for cryptocurrencies.

Reports of a crackdown on cryptocurrency advertisements by tech giants such as Google and Facebook as well as regulatory uncertainty in Asia and the US have weighed on the coin for much of March and April. The coin is down 50% since the beginning of the year.

But investors appeared to be more bullish during Sunday's trade following reports that two Wall Street icons were looking to get into the market for cryptos.

More notably, the investment fund founded by billionaire George Soros is preparing to dive into cryptocurrency trading, even though Soros himself previously described them as a "bubble."

Adam Fisher, who oversees global macroeconomic investing for Soros Fund Management, has gained internal approval to invest in and trade cryptocurrencies, according to a Bloomberg News report.

Also, Venrock - a venture capital firm founded by descendants of famed capitalist John D. Rockefeller - announced it was partnering with a cryptocurrency investment firm based in Brooklyn. Fortune first reported on the partnership.

Anthony Pompliano, whose crypto-focused VC firm Full Tilt was recently acquired by a traditional hedge fund Morgan Creek, told Business Insider these reports are "encouraging" for the nascent bitcoin market.

Source: http://telegra.ph/Bitcoin-holds-steady-above-7000-as-2-Wall-Street-legends-reportedly-eye-the-crypto-market-04-09

 Analyst Tom Lee reckons cryptocurrency selloff motivated by $25 billion capital gain hit. Top industry analyst and the lead researcher at Fundstrat, Tom Lee reckons that the current tax filing deadline in mid-April has been a contributor to the falling prices of digital currencies and tokens. Similarly, the investors who have been doing well betting on digital tokens are currently selling off to file $25 billion required for capital-gains levies. Bitcoin price has fallen by over 40% in the last month while it recorded 1.2% loss on Thursday 4. Lee says, “This is a massive outflow from crypto to dollars,” He wrote. “Historical estimates are each $1 of USD outflow is $20-$25 impacts on crypto market value.”

 MT. Gox's former owner Mark Karpeles claims bitcoin cannot 'keep up'. Bitcoin has fallen overnight to $6,544 as confidence continues to drop and speculative investors gradually walk away. The controversial former CEO of Mt. Gox has written on Reddit that he is no longer a BTC believer. Mark Karpeles said: "The technology is definitely here to stay, but bitcoin may have trouble evolving and keeping up." The former CEO also called bitcoin’s one-tie rival, ethereum, “too untested” for any kind of serious use.

Now good news 

SEC Puts Bitcoin ETF Proposals Back on the Table. The US Securities and Exchange Commission (SEC) has quietly begun considering two Bitcoin ETF proposals, public documents show. According to SEC documents dated March 23, the agency has instituted formal proceedings to determine whether to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares. ProShares Bitcoin ETF and ProShares Short Bitcoin ETF would each hold Bitcoin futures contracts, providing retail investors with the ability to indirectly invest in the flagship cryptocurrency — or bet against it — through a familiar investment product.

Source: http://telegra.ph/Bitcoin-week-recap---what-happened-so-far-04-07

By knowing the key psychological traps, which are relevant for both beginners and experienced traders, crypto market players can save money (and nerves) as well as make more profitable decisions by anticipating the outcome of certain events. We examined what cognitive biases affect the behavior of crypto traders and the crypto market in general.

The Availability Heuristic

The availability heuristic refer to a process in which a trader assesses a situation depending on how easily such situations are presented or pop up in memory. As a result, the trader simplifies the event to simple judgments based on their own memories, which makes such an assessment biased. Thus, many new investors believe that the rates of altcoins will grow with the growth of Bitcoin. But the relationship between the profitability of investments in altcoins in comparison with Bitcoin is not always a fail-safe rule. The growth of the Bitcoin rate cannot be a guarantee that all other cryptocurrencies will grow without exception.

The Anchoring Bias

Anchoring or focalism is that in the process of assessing the situation, especially when it comes to numerical values, traders "anchor" their opinion to some estimates that were obtained earlier. For example, if a trader saw a high rating of an ICO project on some platform, then convincing them of the opposite will be several times more difficult than someone who does not know such ratings. In many cases, even the highest ICO rating does not guarantee the success of the project, and sometimes it can be simply purchased.

The Confirmation Bias

The propensity to confirm one's point of view is the tendency of the trader to seek, interpret, or give preference to the information that corresponds to their point of view, beliefs, or hypotheses. So, investors tend to encircle and limit themselves only with information that would confirm their own views. These prejudices make it impossible for investors to make an objective assessment of the market reality and do not allow them to take into account all the important aspects of the current situation. Moreover, investors will be more inclined to invest in projects, whose goals correspond to their own convictions and turn a blind eye to certain negative aspects.

The Gambler's Fallacy

The gambler's fallacy is often faced in gambling, sports, business, and even everyday life. This effect reflects a widespread misunderstanding of the randomness of events. According to the gambler's fallacy, people will unjustifiably overestimate the probabilities of random events that have not taken place in a long time, and which, in their opinion, are about to occur. For example, in the case of coin tossing, a situation may very well occur that 9 "heads" will fall out in a row. For many people, it seems obvious that the next roll will be the "tails." Such a conclusion, however, is erroneous as the probability of "tails" or "heads" falling is still 50%. The same goes for cryptocurrency, where there can be no guaranteed result, and any event bears a probabilistic character.

The Overconfidence Bias

With this cognitive distortion, the subjective confidence of the trader in the fidelity of their judgments is much higher than their objective accuracy. The most likely reappraisal will occur when performing intensive tasks, considering difficult issues when the possibility of failure is high, or when the trader, while assessing the chances of success, is not familiar with the problem or does not have the required qualifications.

The Effect of Risk Perception

The effect of risk perception is observed in conditions of uncertainty when decision-making is associated with risk and the possibility of an unfavorable outcome. In such situations, the trader's personal qualities will play an important role as well as how they cope with the problematic situation. If a trader voluntarily sets themselves similar goals and makes decisions to achieve them, then their risk appetite increases. They consider the risk justified and even necessary. Such traders, however, often remain in the red.

Illusion of Control

This cognitive distortion is expressed in the tendency of investors to believe that they can somehow influence the events taking place in the market, which objectively do not depend on them or depend to a much lesser degree. This effect leads to confidence that the investor is really able to take responsibility for what is happening, even if the events are spontaneous.

The Optimism Bias

People tend to believe that a positive outcome of a situation is more likely than a negative outcome. Thus, the trader has mechanisms of psychological self-defense from traumatic and emotionally negative information. Investors are inclined to believe that the invested funds will make a profit, even if they are invested in shitcoins.

Conclusion

These examples of cognitive delusions are quite common among crypto traders; however, this is not a complete list of possible psychological traps that investors may encounter.

According to Kyle Protho, the first step that will help avoid irrational judgments and estimates when investing in cryptocurrencies is to study and analyze one's own decision-making process. The second is a thorough investigation of the cryptocurrency, the team, and the project in which the investment is planned. Also, if possible, one should try to avoid making rash and hasty decisions.

http://telegra.ph/What-Psychological-Traps-Prevent-Traders-from-Earning-04-03

The ICO for the new anonymous coin could beat the 1.2 billion dollars raised by Telegram.

An exclusive source has confirmed to Finance Magnates that beleaguered social media giant Facebook is diversifying its product line with a cryptocurrency of its own – Facebook Coin (FBC). Users will have to register to use the coin, but Facebook will guarantee that wallets and transactions will be completely anonymous.

The development has not been officially announced, but reportedly the coin is to be launched on the Ethereum blockchain via an ICO within the next two weeks. Given the size and reach of Facebook, it seems safe to assume that the ICO will rival the 1.2 billion dollars that Telegram raised in its own funding round.

Background:

Facebook has been all over the news lately for all the wrong reasons. It recently came to light that the company sold the personal information of more than 50 million of its users to a political data analysis firm called Cambridge Analytica. Cambridge Analytica illegally used that data to influence the public in the buildup to the Brexit referendum in the UK and in the last US presidential election.


After the scandal become public, Facebook CEO Mark Zuckerberg sent this statement to major newspapers in both countries:

“You may have heard about a quiz app built by a university researcher that leaked Facebook data of millions of people in 2014. This was a breach of trust, and I’m sorry we didn’t do more at the time. We’re now taking steps to make sure this doesn’t happen again….Thank you for believing in this community. I promise to do better for you.”

Unfortunately for Zuckerberg, belief in the community is collapsing. Millions of users have closed their profiles in the wake of the scandal, and the market capitalisation of Facebook has crashed from 538 to 464 billion dollars.

But what will be of more concern to Facebook is the financial penalty that it will have to pay. In 2011 Facebook signed a consent decree with the Federal Trade Commission following allegations that it failed to keep to its promises regarding the privacy of its users. The most recent breach has been found to be a violation of this agreement, and the penalty under US law is 40,000 dollars per violation. As the data of 50 million people was inappropriately used, the total fine will run into the trillions of dollars.

It seems that Facebook’s days as a social media platform may be numbered, which is why the board of the company has reportedly decided to branch out. Rumours are flying on Reddit:

Anonymous coin:

According to our source, the technical details are still being worked out but it can be confirmed that FBC will be an anonymity-based coin along the lines of Monero. In order to hold a coin, users will have to supply data such as name, address, phone number, mother’s maiden name and name of first pet. This is for security reasons; a privacy clause written into the smart contract will ensure that all transactions are entirely anonymous and completely untraceable.

Interestingly, our source told us that Facebook will be advertising the ICO on users’ Facebook feeds. This is interesting because the company recently banned all cryptocurrency advertising on its platform. At the time, its product managing director said that Facebook wanted to avoid “scams and deception”, and the decision to overlook this new rule for its own cryptocurrency has naturally raised eyebrows. However, our source denied that there is any contradiction in the policy:

“Facebook banned cryptocurrency advertising because too many of these companies were scams. This is completely different – Facebook’s ICO is a legitimate way to get more data, which is needed to power a groundbreaking new anonymous digital coin – it is not a scam, so there is not reason for it not to appear on the platform.”

We wish all of our readers a happy April Fool’s Day.

https://www.financemagnates.com/cryptocurrency/news/exclusive-facebook-launch-cryptocurrency-massive-ico/

Parang same lang sila ng topic dito. Anong masasabi niyo?

Pwede tong topic para pang report sa mga copy and paste na post or medyo same ng thoughts.

http://www.altcoinstalks.com/index.php?topic=1349.0

http://www.altcoinstalks.com/index.php?topic=12266.0
Paki delete na lang itong topic na to. Mas nauna yung nasa taas kaysa dito salamat 😁