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7546

Balita Cryptocurrency / Si Charlie Lee Naniniwala na ang XRP Ay Tulad ng Diamond

« on: July 29, 2018, 09:48:41 AM »

Si Charlie Lee, ang tagapagtatag ng Litecoin ay kasalukuyang sinasabing sa Chinese media, Jinse . com kung saan siya tinatalakay ang ilan sa kanyang mga kaisipan na nakapalibot sa Bitcoin , Litecoin at XRP . Sa talakayang ito, ayon sa Ethereum World News, tumutukoy si Lee sa Bitcoin bilang Gold, Litecoin bilang Silver at XRP bilang Diamond. Sa palagay ko ay tinutukoy niya ang mahalagang mga elemento ng Gold, Silver at Diamond dito bilang laban sa mga laro ng Pokémon, ngunit maaaring ako ay mali.

Nakikita ko si Lee na isang kaakit-akit na karakter. Kahit na marami siyang kontrobersyal na mga argumento at siyempre, ay naging sa harap ng ilang mga kritika para sa kanyang mga paggalaw sa loob ng Litecoin, naniniwala pa rin ako na siya ay halos tapat, pababa sa lupa at talagang ang uri ng crypto celebrity ng maraming namumuhunan ay maaaring matuto mula sa, bilang kabaligtaran sa ilan sa iba pang mga, mas mapagmataas na mga personalidad na mukhang nakapaligid sa industriya.

Sa pag-iisip na ito, si Lee ay hindi isang tagapayo sa pananalapi kaya kaya, ang kanyang mga salita ay hindi dapat makuha bilang payo sa pamumuhunan, sa halip, dapat lamang itong gamitin upang purihin ang sarili mong pananaliksik.

Kaya, ayon sa Ethereum World News , narito ang sinabi ni Lee.

Tinutukoy ni Lee ang Bitcoin bilang digital na bersyon ng Gold, na nagsasabi na:

"Hindi kailangan ng Bitcoin na harapin ang mga problema sa imbakan; ito ay masyadong maginhawa upang ilipat. Para sa akin, siya ay mas mahusay kaysa sa ginto sa maraming lugar. Kung ikaw ay mas maasahin sa mabuti, ang halaga ng merkado ng Bitcoin ay maaaring higit sa 10 trilyon halaga ng pamilihan ng ginto. Mahigit sa 100 beses ang baligtad. "

Susunod, tinatalakay ni Lee ang kanyang kapanganakan, si Litecoin, na tumutukoy sa ito bilang Silver, isang mas mabilis ngunit bahagyang mas mababa traded na bersyon ng ginto na maaari pa ring papuri ito. Ayon sa Ethereum World News, sinabi ni Lee:

"Ang Litecoin (LTC) ay nakikipagpalit nang apat na beses nang mas mabilis kaysa sa Bitcoin (BTC) ngunit mas ginagamit ang Bitcoin. Sa kasalukuyan, ang base ng user ng Bitcoin at Litecoin ay medyo malapit. Maraming mga tao ang gumagamit ng Bitcoin at Litecoin sa parehong oras. "

Sa wakas, tinatalakay ni Lee ang XRP. Sa Lee, ang XRP ay Diamond, dahil lamang ito ay mataas ang sentralisadong ngunit nananaig pa rin na lumaki sa hinaharap. Sinabi ni Lee:

"Maraming mga posibilidad (ng paghahanap at altcoin upang maging katulad ng halaga), ngunit ang Ripple ay medyo tulad ng brilyante dahil ang suplay nito ay likas na kontrolado din. At ang mga diamante ay talagang advertising ... Kung nais mong bumili ng Ripple para sa kasal, ito ay napakahalaga, haha! "

Mayroon ka rito, kung sasabihin mo na, kalimutan mo ang Diamond ring, bumili lang ng ilang XRP sa halip?

Ang perspektibo ni Lee ay kawili-wili at kaakit-akit. Bukod dito, ang ganitong uri ng balita ay mahalaga bilang Lee ay isang dalubhasa sa kanyang larangan. Sa pamamagitan ng pagbibigay ng kontribusyon sa ilang walang pinapanigang debate, mahusay na makita kung paano tinitingnan ni Lee ang mga merkado sa sandaling ito. Sa pamamagitan nito, maaari tayong magkaroon ng mas mahusay na pag-unawa sa kung ano ang kanyang paniniwala ay mangyayari sa hinaharap. Oo, marahil isang araw ay ipanukala ng mga tao ang paggamit ng XRP sa halip na Diamond, sino ang nakakaalam?

Pinagmulan: https://cryptodaily.co.uk/2018/07/charlie-lee-believes-that-xrp-is-like-diamond/

7547

Ripple News & Updates / Ripple Exec: ‘Thrilled’ With Regulators Taking Interest In Cryptocurrency

« on: July 29, 2018, 09:40:49 AM »

Ripple Ready for Increased Government Scrutiny

Executives at Ripple are giving the impression that they welcome the introduction of regulators and increased scrutiny in the space of cryptocurrency.

While some community members and investors are skeptical of increased regulation, seeing it as an attempt to stifle the growth of cryptocurrency and introduce the centralization that the industry has been designed to move away from, others view the presence of regulators as a natural step in the maturation process of the industry.

Ripple Embracing Regulation
Ripple, the parent company behind the cryptocurrency XRP, has been dealing with the possibility of regulation for some time as a startup targeting banking and financial services. While the currency XRP is embroiled in a battle over whether the coin constitutes a security, Ripple is moving forward in preparation of working with regulators and using the increased scrutiny to further their brand and business. Speaking in an interview with Fox Business, Ripple’s chief marketing strategist Cory Johnson has expanded upon the company’s view towards regulation, stating that he believes it can work to the benefit of Ripple and that they are “thrilled” with regulators finally getting more involved in cryptocurrency. In addition, he outlined how regulators would help protect both crypto businesses and customers, filling in some of the legal gray space and lack of accountability that most of the industry operates under,

“One person’s regulation is another person’s protection. I believe it’s really important for investors to be protected…We’ve seen what happens when there aren’t investor protections. We’ve seen investors lose so much money, and we’ve seen it in the world of crypto. We’ve seen some real bad actors involved, so we’re thrilled that regulators are getting involved.”

More here, https://ethereumworldnews.com/ripple-exec-regulation-2018/

7548

Ripple News & Updates / List Of 22 Fiat Currencies Where XRP Is Paired

« on: July 29, 2018, 09:35:29 AM »

The XRP Community is forever enthusiastic about the progress their favorite digital asset has made over the years. The community constantly updates the crypto-verse on new developments with regards to XRP and the Ripple company. One such update, is the number of over 20 fiat pairings XRP has achieved in the numerous global exchanges. The exact tweet that led to this discovery can be found below.

The following is the list of fiat currencies XRP is paired with:

United States Dollar (USD) – on the 17 exchanges of: xBTCe, Sitemkoin, Exmo, CoinField, BitPay, alfacashier.com, blockbid.io, Bitfinex, BitFlip, Bitsane, Bitstamp, CEX.io, Exrates, Gatehub, Kraken, Mr.Exchange, Quoine,
Canadian Dollar (CAD) – on the 2 exchanges of CoinField and Kraken
Japanese Yen (JPY) – the 5 exchanges of Blockbid.io, Bitbank, Kraken, Mr. Exchange and Quoine
Euro (EUR) – on the 12 exchanges of BitPay, alfacashier.com, blockbid.io, BitFlip, Bitsane, Bitstamp, CEX.io, Gatehub, Kraken, LiteBit.eu, Quoine and the Rock Trading
South Korean Won (KRW) – on the 6 exchanges of GoPax, Bithumb, Coinone, Coinrail, Korbit and Upbit
Australian Dollar (AUD) – on the 2 exchanges of blockbid.io and BTC Markets
Indian Rupee (INR) – on the 4 exchanges of Unocoin, Bitbns, Koinex and Zebpay
Turkish Lira (TRY) – on the 5 exchanges of Sistemkoin, Ovis, BTCTurk, Koineks and Vebitcoin
Mexican Peso (MXN) – on the Bitso exchange
Thai Bhat (THB) – on the 2 exchanges of TDAX and bx.in.th
Chines Yuan (CNY) – on the 4 exchanges of alfacashier.com, Fatbtc, Ripple China and Ripple Fox
South African Rand (ZAR) – on Altcoin Trader
Indonesian Rupiah (IDR) – on the 2 exchanges of Bitcoin Indonesia and Quoine
Ukrainian Hryvinia (UAH) – on the 2 exchanges of BitFlip and Kuna
British Pound (GBP) – on the 4 exchanges of LBX, CryptoMarket, coinfloor and Cryptomate
Russian Ruble (RUB) – on the 3 exchanges of Exmo, alfacashier.com and BitFlip
Brazilian Real (BRL) – on byebnk.com and Rippex exchanges
Singapore Dollar (SGD) – on Quoine exchange
Philippine Piso (PHP) – on Coins.ph exchange
United Arab Emirates Dirham (AED) – on bitoasis.net
Chilean Pesos (CLP) – on orionx.io exchange
Polish Zloty (PLN) – on BitPay exchange

Source: https://ethereumworldnews.com/here-is-a-list-of-22-fiat-currencies-xrp-is-paired-with-in-the-numerous-global-crypto-exchanges/

7549

Bitcoin News & Updates / Only 2% of US Investors Own Bitcoin, But 26% Are ‘Intrigue'

« on: July 29, 2018, 08:46:53 AM »

New Gallup Poll Shows Only 2% of US Investors Own Bitcoin, But 26% Are ‘Intrigued’

The results of a Wells Fargo/Gallup poll published July 27 finds that only two percent of U.S. investors own Bitcoin, but 26 percent are intrigued by it.

The online survey was conducted May 7-14, 2018 amongst U.S. investors with more than $10,000 in stocks, bonds or mutual funds. The results show that the overwhelming majority of investors who have already heard of Bitcoin will not be investing in the leading cryptocurrency any time soon, with 72 percent saying they “have no interest in ever buying Bitcoin.”

According to the data from the poll, even though 96 percent of investors had heard of Bitcoin, “only about three in 10 investors (29%) say they know something about digital currencies,” with 67 percent saying they have heard of them but don’t know much about them.

Even though the initial intention behind Bitcoin involves its use as a means of payment, or “electronic cash”, it’s high volatility has made it “more popular as a high-risk/high-reward investment than as an online currency — although acceptance of Bitcoin for electronic payments is growing.” The results of the survey show that 75 percent of respondents view an investment in Bitcoin to be “very risky,” with 23 percent saying it was “somewhat risky.”

The statistics on gender and age show that young men are the most likely demographic to “say they know something about bitcoin or other digital currencies.” The report also states that “[r]elated to the age differences, investors with less than $100,000 in investments (who tend to be younger) are more likely to be familiar with the innovation than those with higher asset levels.”

A study on Americans and cryptocurrencies commissioned by Finder.com in February showed that 8 percent, or around 26 mln, of Americans have already purchased cryptocurrency.

A recent report on the top ten crypto projects that raised a minimum of $1 million in 2017 revealed that on average each showed a return on investment of over 136,000 percent.

Source: COINTELEGRAPH.com

7550

Legality & Taxation of Cryptos / South Korean Regulator Presses Lawmakers to Pass Crypto Bill Urgently

« on: July 28, 2018, 09:49:30 AM »

South Korea’s top financial regulator has urged lawmakers to pass the country’s first crypto bill quickly, citing the urgent need from rising incidents at crypto exchanges. There are currently several crypto-related laws pending at the National Assembly.

Do you think South Korea really needs to pass a crypto bill so urgently? Please read more here, https://news.bitcoin.com/south-korean-regulator-lawmakers-pass-crypto-billl/

7551

Blockchain Technology / Canada’s DMG Blockchain Starts Installing 85 MW Substation for Crypto Mining

« on: July 28, 2018, 09:42:16 AM »

Canada-based DMG Blockchain Solutions has launched the installation of an 85-megawatt substation for crypto mining expansion, according to an official statement July 26. The DMG crypto mining operation will be implemented on an industrial scale with direct support from the local government and electricity providers.

DMG Blockchain Solutions is a multi-sector crypto and blockchain firm that manages and provides Bitcoin mining and hosting in addition to blockchain platform development.

The flagship mining facility is set to become fully operational in September 2018 with 60 megawatts available for energizing mining rigs, and will reportedly be one the largest mining facilities in North America.

More, https://cointelegraph.com/news/thai-bond-market-association-to-launch-blockchain-based-registrar-bond-service-platform

7552

News related to Crypto / MetaMask Browser Extension Pulled From Google Chrome Store for 5 Hours

« on: July 27, 2018, 06:00:55 PM »

MetaMask Browser Extension Pulled From Google Chrome Store for 5 Hours, ‘Unsure’ of Cause

MetaMask, a browser extension for interacting with the Ethereum network, was pulled from the Google Chrome Web Store, it announced in a tweet Wednesday, July 25. The app has since been listed again, the company confirmed in a post five hours later.

MetaMask is one of the oldest and widely used decentralized apps (DApps) on the Ethereum network, serving as an important gateway for the network’s users.

According to MetaMask’s official Twitter account, the company is “unsure” of the reasons for Google Chrome’s decision to temporarily delist its extension from the store:

“PSA: MetaMask has been delisted from the Chrome Web Store. We are unsure of why this is the case and we will update everyone as we get more information. All other browsers are unaffected.”

More, https://cointelegraph.com/news/metamask-browser-extension-pulled-from-google-chrome-store-for-5-hours-unsure-of-cause

7553

Crypto Exchanges / Blockchain-Based Betting Platform Augur Now Features ‘Assassination Markets’

« on: July 27, 2018, 05:55:58 PM »

So-called “assassination markets” have now popped up on blockchain event betting platform Augur, Mashable media outlet reported July 24. Users are now betting on when certain public figures will die.

Created by the non-profit Forecast Foundation, Augur launched its Ethereum (ETH) mainnet-powered predictions platform on July 9, according to Fortune. On the platform, users can make a prediction about the outcome of any event.

If a user believes the outcome will happen, they buy shares with ETH. If a user believes the event will not occur, they can short the bet by selling shares. In either case, should a user’s prediction come true, they can profit from the result.

Users have recently posted bets on Augur regarding the deaths of a number of public figures, such as the U.S. president Donald Trump and CEO at Berkshire Hathaway Warren Buffett. The bet "Will Donald Trump (President of The USA) be killed at any point during 2018," has acquired 50.3 shares as of July 23.

Augur “Assassination Market” Screenshot. Source: Mashable

This is not the first example of an assassination market. Back in 2013, an online market was created where users set out to fund the assassinations of Ben Bernanke and American president Barack Obama. While the current markets on Augur merely place a bet on whether such an event will happen, should the wager be high enough it could still create an incentive for someone to carry out the crime.

Users on the Augur subreddit have suggested that something be done about assassination markets, but given the decentralized nature of the platform, "no one person can single-handedly change Augur or shut it down," according to the Augur website.

To ensure that a bet is settled properly, Augur has created a system of “reporters” who state the truthful outcome of a posited event. Reporters are essentially holders of Augur’s own REP token.

In order to report an event, users must stake REP on an event’s correct outcome to receive any of the settlement fees. If REP holders incorrectly report a result, they lose their tokens. If they do not participate in a ‘fork,’ or a highly disputed outcome to an event, they lose five percent of their REP. Passive holders of REP who do not participate in the bet settlement process are also penalized.

REP is trading at $30.16 at press time, having hit its peak of over $107 in January 2018 according to Coinmarketcap.

Source: COINTELEGRAPH.com

7554

Ethereum News & Updates / Joseph Lubin Names Berlin as The Most Important City in The ‘Blockchain Cosmos’

« on: July 27, 2018, 05:47:32 PM »

Ethereum co-founder Joseph Lubin referred to Berlin as “the most important city in the blockchain cosmos”, Cointelegraph auf Deutsch reported July 25.

Lubin said that, "Berlin has the infrastructure, Berlin has the talent, the really good programmers are here." Lubin added that, if Berlin wanted to maintain its status as a blockchain hub, "the government needs to set up more programs to promote blockchain."

According to Lubin, blockchain is still in its infancy. The Ethereum co-founder, who now is concentrating on app development on the Ethereum blockchain with his company ConsenSys, said:

"We've seen a lot of bubbles bursting, and will do so more often in blockchain and cryptocurrency. At $30, Bitcoin was a bubble, at $200 and at $20,000 even."

Even though he is less interested in cryptocurrencies, the hype surrounding Bitcoin is anything but bad, according to Lubin, because it will bring more money to the market and drive technology forward.

Lubin’s main concern is developing the next stage of the Internet, which he refers to as Web 3.0. According to Lubin, the “old web” has too many mistakes; people do not have control over their data, meaning companies can capitalize on user data, and there is no quick system for settling cross-border payments.

Lubin said, "We have to get away from silos, from companies that collect data and make money, and people should have that back in their hands."

In an interview with Cointelegraph, Lubin said that when Vitalik Buterin came up with the description for the Ethereum platforms, “It was essentially the most elegant, the most powerful description of a blockchain platform up to that point.”

Lubin added that Ethereum, “enabled, essentially, billions of software engineers to not worry too much about what is going on the protocol layer and just build with tools similar to what they are used to using, when building web applications and mobile applications, and identify their own problem, and build their own solution.”

Source: COINTELEGRAPH.com

7555

Reputation, Scams & Phishing / New Study Says 80 Percent of ICOs Conducted in 2017 Were Scams

« on: July 27, 2018, 05:22:16 PM »

A recent study prepared by ICO advisory firm Statis Group revealed that more than 80 percent of initial coin offerings (ICOs) conducted in 2017 were identified as scams. The study took into consideration the lifecycle of ICOs run in 2017, from the initial proposal of a sale availability to the most mature phase of trading on a crypto exchange.

The research says that in 2017 “over 70 percent of ICO funding (by $ volume) to-date went to higher quality projects, although over 80 percent of projects (by # share) were identified as scams.” The analysts found that four percent of ICOs failed, and three percent had “gone dead.” The study recognized ICO death as “not listed on exchanges for trading and has not had a code contribution in Github on a rolling three-month basis from that point in time.”

According to the study, total funding of coins and tokens in 2017 amounted to $11.9 billion. $1.34 billion (11 percent) of ICO funding went to scams, the vast majority went to three large scammy projects; Pincoin ($660 million), Arisebank ($600 million), and Savedroid ($50 million), which together equal $1.31 billion. This suggests that while a large number of ICOs were scams, they received very little funding when compared with the industry as a whole.

Earlier this month, TechCrunch released a report based on data from Coinopsy and DeadCoins, which found that more than a thousand crypto projects are “already dead” as of June 30, 2018. According to Coinopsy’s list, there were 247 “dead” coins, while DeadCoins had a 830-item long list of “dead” cryptocurrencies.

According to research conducted by cybersecurity company Carbon Black in June, roughly $1.1 billion worth of digital currency was stolen in the first half of 2018. The security company said that criminals take advantage of the dark web to facilitate large-scale cryptocurrency theft. Estimates reportedly show that there are 12,000 marketplaces and 34,000 offerings associated with cryptotheft that hackers can take advantage of.

A joint report from consulting firm PwC and the Swiss Crypto Valley Association revealed that the volume of ICOs between January and May 2018 reached $13.7 billion in 2018 so far, which is already twice as much as the market amounted to in all of 2017.

Source: COINTELEGRAPH.com

7556

Legality & Taxation of Cryptos / SC State Regulators Withdraw Enforcement Actions on Two Blockchain Startups

« on: July 27, 2018, 05:07:20 PM »

The Securities Division of the Office of the Attorney General of South Carolina has removed cease-and-desist orders against two blockchain startups, according to public documents published July 26.

Today’s order removed a cease-and-desist order filed by the South Carolina Attorney General's office against shipping platform ShipChain for violating the state’s securities statutes on May 21. Regulators initially accused the firm of running afoul of securities laws during their private SHIP token sale.

The second firm, cloud mining platform Genesis Mining, which was previously halted by the South Carolina Attorney General's Office Securities Division due to selling “unlicensed securities,” is now ordered to be dismissed as a respondent from the administrative order.

Following the cease-and-desist order in May, ShipChain refuted the accusation by state regulators, claiming that their token sale was conducted in compliance with securities laws. Moreover, the firm specified that ShipChain was “not aware” that SHIP tokens were even offered to South Carolina residents, since the token sale was held prior to the company’s placement in the state of South Carolina.

According to Influencive, ShipChain raised $30 million in a private token sale in January. Launched in 2017 in California, the blockchain startup aims to solve major problems associated with the logistics and shipping sectors. According to the National Cargo Security Council, the industry loses more than $50 billion annually from lost or stolen cargo.

Iceland-based Genesis Mining is one of the largest companies providing cloud mining services, primarily focused on Bitcoin. Founded in late 2013, the company’s mining farms are reportedly the largest consumer of electricity in Iceland.

Earlier today, Cointelegraph reported that the Swiss Financial Market Supervisory Authority (FINMA) launched enforcement measures against crypto mining firm Envion AG over its potentially unauthorized token sale in mid-January 2018.

Source: https://cointelegraph.com

7557

News related to Crypto / CME Will Not Introduce Altcoin Futures Anytime Soon, Says CEO

« on: July 27, 2018, 04:58:02 PM »

The Chicago Mercantile Exchange (CME) will not introduce futures on cryptocurrencies other than Bitcoin (BTC) in the near future, CME CEO Terry Duffy revealed in an interview with Bloomberg July 26.

In the interview, Duffy said that the company should first evaluate and develop an approach for Bitcoin, stressing that Bitcoin futures “might have been the most controversial launch of a product.”

Duffy emphasized that altcoins futures contracts cannot be launched immediately, because they are “highly volatile and new,” and the company cannot just list products for trading in order “to see where they’re going to go.” Duffy said, “I will take a wait and see approach with Bitcoin for now.”

The CEO reiterated the company’s previous position on launching altcoin futures, having said earlier this year that listing other crypto would be “a little irresponsible right now.”

CME, one of the largest exchanges worldwide, launched Bitcoin futures trading on Dec. 17, a week after BTC futures were introduced by the the biggest U.S. options exchange, the Chicago Board Options Exchange (CBOE).

While CME is taking a cautious approach to introducing altcoin futures, its main competitor CBOE is “definitely monitoring other markets,” CBOE’s director for product development Dennis O'Callahan revealed in an interview with Cointelegraph. O'Callahan said, “...we are definitely monitoring other markets to make sure that the infrastructure and everything is in place in case we want to pursue other cryptocurrencies.”

Last week, CME reported that its BTC futures average daily volume (ADV) increased by 93 percent in the second quarter over the first quarter of 2018, while the number of open contracts on Bitcoin futures has exceeded 2,400, which amounted to 58 percent increase since Q1.

Source: https://cointelegraph.com/

7558

Banks & Cryptos / Crypto Merchant Bank Galaxy Digital Lost $134 Million in The 1st Quarter of 2018

« on: July 27, 2018, 04:51:33 PM »

Mike Novogratz’s crypto-focused merchant bank Galaxy Digital released its first quarter report for 2018, posting a $134 million loss as cryptocurrency markets slumped, according to Bloomberg July 26.

Galaxy Digital lost $13.5 million in its trading business, with $85.5 million of unrealized loss on digital assets, $1.1 million in paper losses on investments, and $22.9 million in paper loss on investments in its principal investing business. As of March 31, Galaxy digital had $281.7 million in assets, of which $225.8 million were digital assets and investments.

Novogratz, who founded Galaxy Digital last year, wants to build an institutional-level merchant bank for the blockchain and cryptocurrency industries. In order to list the company on Canada’s TSX Venture Exchange, Canadian regulators require that the companies release financial statements.

More, https://cointelegraph.com/news/crypto-merchant-bank-galaxy-digital-lost-134-million-in-the-first-quarter-of-2018

7559

News related to Crypto / HashFlare’s Exit and the Future of Cloud Mining

« on: July 27, 2018, 04:45:23 PM »

Cloud mining — a service that enables individual users to lease hashing power from dedicated cryptocurrency mining operations — came forth as professionalization and cartelization of the mining business began to drive out smaller and insufficiently equipped players from the scene.

Since there is no way to verify that the share of the mining rig you are supposedly leasing actually exists — even if returns on your investment seem to be flowing regularly at first — the scheme is widely regarded as a happy hunting ground for scammers. Perhaps the only way to steer clear of fraud is to rely on the reputation of the established cloud mining brands. But with the outbreak of the recent scandal around the cloud mining platform HashFlare, this option might also soon be off the table.

HashFlare, one of the leading names in the business, announced on July 20 that it has dropped its mining service of active SHA-256 Bitcoin contracts, pursuant to a clause of the platform’s terms of service reading the following: “The Mining process will stop if the Maintenance and Electricity Fees will become larger than the Payout. If mining remains unprofitable for 21 consecutive days the Service is permanently terminated.”

Citing the ongoing “difficult time for the cryptocurrency market,” the firm claimed that by July 18, the payouts were lower than the maintenance fees for 28 days in a row, which activated the clause allowing for the the conclusion of the contracts. The statement implied that HashFlare would be open to resume Bitcoin mining, should more favorable market conditions arise. Apparently, the cease only concerned Bitcoin contracts, as operations with other crypto assets available in the firm’s portfolio — such as Litecoin and Ethereum — proceeded as usual.

While this July has not been the brightest month ever for the crypto market, especially in comparison to December 2017, many users have rightfully questioned HashFlare’s reasoning. After briefly touching the floor at just above $6000 in the first days of the month, Bitcoin prices entered a steady upward trend, coming close to $8000 by the day that the contract termination was announced.

Additionally, the first week of the month saw the Bitcoin network’s hashrate drop massively as a result of heavy floods in the Sichuan province of China, home to a dense conglomeration of mining rigs. This should have led to a corresponding decrease in difficulty for the rest of the nodes. Even before the disaster, around the time when the mining platform’s dry season allegedly started in mid-June, the network’s hashrate plummeted to around 30 TH/s. As the HashFlare’s account of things seemed to stand in contrast with a widely accepted version of reality, the allegations of fraud began to pour out.

More, https://cointelegraph.com/news/hashflare-s-exit-and-the-future-of-cloud-mining

7560

News related to Crypto / Crypto Markets Tumble as SEC Rejects Winklevoss Twins’ 2nd BTC ETF Applicatiion

« on: July 27, 2018, 04:39:40 PM »

Crypto Markets Tumble as SEC Rejects Winklevoss Twins’ Second Bitcoin ETF Application

Crypto markets have taken a sharp downturn, today, July 27, with all of the top ten coins by market cap hit by hefty losses and Bitcoin (BTC) dipping back below the $8,000 psychological price point, as data from Coin360 shows.

The grim market picture is likely due to yesterday’s breaking news that the Winklevoss Twins’ application for a Bitcoin exchange-traded fund (ETF) has now been rejected for a second time by the U.S. Securities and Exchange Commission (SEC).

Bitcoin (BTC) is trading around $7,915 to press time, down about 4 percent on the day. After leading last week’s impressive market uptick and hitting as high as $8,431 July 25, the coin tumbled over $400 within the space of 3 hours earlier today.

Bitcoin has since slightly recovered from its intraday low at around $7,874 — and its weekly and monthly price performance remains in the green, up around 6 and 30 percent respectively.

More, https://cointelegraph.com/news/crypto-markets-tumble-as-sec-rejects-winklevoss-twins-second-bitcoin-etf-application