By Harold Vandelay on Feb 14, 2019 08:51 pm
New Zealand cryptocurrency exchange Cryptopia, which was hacked almost exactly a month ago, has been given the green light to reopen as local police wind up their inquiries. Cryptopia has over 2 million global users and offers trading for one of the world’s largest range of cryptocurrencies. January’s hacking resulted in the loss of some $USD 6 million worth of cryptocurrency which warranted the company notifying its users that it had “suffered a security breach which resulted in significant losses”. The body investigating the breach, New Zealand’s High Tech Crime Group, have indicated that although the exchange if free to open, some of its team will be remaining on site to complete their investigations. The police have not expressed any indication of laying any charges at this stage. Experts from data company Elementus believe the stolen cryptocurrency could amount to USD 23 million dollars which comprise Ether and ERC20 tokens, and reports indicate that the attack could have even continued even after the investigators arrived on the scene in January. Cryptopia surprised New Zealand’s crypto and banking community at the end of last year when it announced that it had plans to relaunch the New Zealand dollar stablecoin (NZDT) in Q1 2019. The NZDT was originally launched in 2017, with daily trading volume rallying to NZD 1 million per day. This spooked ASB, the bank that Cryptopia was working with, since proper know your customer (KYC) and anti-money laundering (AML) laws were not in place. Fortunately, the orderly termination of the NZDT stablecoin gave customers a month to convert their tokens back to NZD. Despite the green light, Cryptopia founders Adam Clark and Rob Dawson have not indicated exactly when they plan to resume services for its huge customer base. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay The post Cryptopia Gets Green Light to Reopen After Hacking appeared first on BitcoinNews.com.
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By Harold Vandelay on Feb 14, 2019 05:49 pm
This year’s iconic Rio Carnival at Marquês de Sapucaí Sambódromo is to feature a performance depicting the history of money from the development of early 7th century coins to Bitcoin. “Give Me Some Money“, is the work of, no not Abba, but prominent Brazilian samba school Imperatriz Leopoldinense, who are currently working on their entry for this year’s Carnivale. The school is so confident this year that they are hoping that their elaborate entry will win them the prize for the first time since 2001. The performance will track the history of money concluding with the advent of cryptocurrencies, mapping out the centuries and the development of coins, paper bills and finally digital currency. Imperatriz Leopoldinense explains: “Our story is about money and its relationship with humans from their invention to the present time. It is, without a doubt, one of the most important instruments in the economic life of nations and people.”
The events at the Rio Carnival are always flamboyant and colorful, and this depiction of money through the centuries will be no different according to the school. It maps out periods from the 7th century BC to the creation of paper money in China in the 10th century, then follows the South American native population’s first encounter with European conquistadors, to Brazilian money used in the eventuating slave trade. The school says: “Imagine what life would be without money. How could we buy and sell, receive and pay, stock up and save for the future, if it did not exist?… We’ll end the parade talking about a future already present through cryptocurrencies – a digital resource system designed to function as a medium of exchange.” As 82-year old Mário Monteiro, who performs along with his sister Cacá Monteiro, 64, points out, it is somewhat ironic to be putting on a performance about money when the carnival is going through its most sustained period of financial difficulty in years, but adds, “It’s time to put the sadness in the drawer and take the joy out of the closet, because it’s Carnival!” Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay The post Samba School to Depict History of Money to Bitcoin in Rio Carnival appeared first on BitcoinNews.com.
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By Peter on Feb 14, 2019 03:08 pm
Consolidation. A word often used in a market with small volumes. After each smallest active movement, the market fades. This is happening now. After the previous analysis, the situation has not especially changed. Active growth since 8 February has shifted to a slow and weak fall which looks like a consolidation. This is especially evident on the daily timeframe: At the moment, sellers are not so aggressively organizing their fall as buyers were able to perform with growth. The current price movement resembles a correction after growth rather than a change in the local trend. In addition to slowness in candle testing, sellers do not use large volumes to change the situation in their favor. If you analyze horizontal volumes, then you can see that in the range of USD 3,560-3,660 there is no liquidity. And the real interest in the market participants is at a price of USD 3,500: However, after several attempts by sellers to continue the fall to USD 3,560 with the ultimate target of 3,500, the effort ended with flawed breakdowns. So far, sellers can update the local low and gradually lower the price below. However, when an unsuccessful attempt to upgrade the local low comes, it will be the first signal of a change in the balance of power that will lead to a continuation of growth. Locally, sellers are still stronger than buyers now. This is what the following situation shows us: After sellers could not fix themselves below USD 3,660, buyers had to take the initiative and start their scenario. However, we see small faded green candles on minimal volumes. Paying attention once more to horizontal volumes, it becomes clear that with such forces, buyers will not be able to break through the liquid price zone of USD 3,660-3,700. Therefore, if buyers do not fundamentally change the situation now, the price will continue to fall, looking for a local bottom from which it can continue to grow. The next potential variant of the local bottom is USD 3,600: Since yesterday, marginal positions of buyers are closing but are in the growth channel and now at the middle line of the channel: Sellers also close their positions, which since 10 January, are in consolidation: As for our main scenario, it remains unchanged. We expect from buyers at least attempts to break through the price zone of USD 3,770-3,800. While the price is above USD 3,500, buyers are more likely to continue to grow. In order for the situation to become clearer, we want to see some trading situation on solid volumes. Meanwhile, we can only wait and enjoy an interesting and exciting consolidation. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Bitcoin News The post BitcoinNews.com Bitcoin Market Analysis 14th February 2019 appeared first on BitcoinNews.com.
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By Bitcoin News PR on Feb 14, 2019 01:16 pm
Bitcoin Press Release: CryptoProfile is developing a platform that will address current problems surrounding ICO's in the crypto sphere. The platform will provide legitimate token generation events the opportunity of pitching to contributors in a risk-averse manner. 22nd of January, 2019, Singapore – In present times even among genuine ICOs, over 80 percent are likely to fail. Some fail because of poor technical execution of the idea, while others are based on business models that are doomed to fail. It is also common to find many utalising the same idea which indicates some lack of originality in the industry. In a growing cryptocurrency industry, this presents a problem for backers who are afraid of backing cryptocurrency startups and genuine startups that lack adequate financing to become successful. CryptoProfile tackles this conundrum by developing a platform where legitimate token generation events have an opportunity of pitching to contributors in a risk adverse environment. CryptoProfile does due diligence on behalf of the backers on the platforms to ensure that they participate only in the ICOs with the highest likelihood of success. How does the Due Diligence System Work? Before CryptoProfile accepts an ICO to be listed, proper due diligence has to be done. The due diligence considers the viability of the business with regard to the ability to address legitimate problems and the saturation of the market it targets. The team behind it will be reviewed to ensure that the members are legitimate. Other aspects reviewed include the technical soundness of the project, the utility of the coin and adherence to regulations. Any ICO projects that want to be listed on the CryptoProfile platform will be required to pay $100k for marketing. In exchange, CP tokens of the same value will be allocated to the startup and locked in an escrow account for six months or until the native tokens of the startup are listed on an exchange. The startup will then be required to allocate 10 percent of their tokens to CryptoProfile. CryptoProfile will distribute the 10 percent received through an airdrop to CP token holders to stimulate interest in the community for the startup. As a result, those who hold CP tokens will be rewarded by receiving airdrop tokens every time an ICO startup is implemented into the platform. If the CP token holders like the startup, they can further support the project through the CryptoProfile platform. There are two benefits of this airdrop system. They include: Discovery of Cryptocurrency Gems –The due diligence conducted by the CryptoProfile team before onboarding an ICO startup ensures that only the best ICOs will be listed on the platform. This provides a more effective way of uncovering cryptocurrency gems. This saves the backers from losses from scams or ill-conceived ideas. Startups get Capital and Exposure – The approach provides legitimate cryptocurrency startups with an opportunity to raise the capital they require to develop their platforms. They also get an opportunity to market themselves to the contributors who are holders of CP tokens. CryptoProfile's Unique Selling Point The most endearing feature of CryptoProfile is the adoption of a Novel Economic Model that is a viable improvement over the blind trial and error approach that has been used. Instead, the platform creates a consolidated airdrop platform where token sale projects can pitch to potential contributors. On the other hand, backers are protected from scams that identify the true startup gems in the cryptocurrency market. The airdrop system provides financial incentives for CP token holders to market the ICOs listed on the platform. CryptoProfile is a viable platform that will make token sale contribution safer for those who want to participate while giving genuine startups an opportunity to raise funds from their ideas. Join the revolution by getting involved in the Presale or main token sale. The Presale runs from January 1st to 31st while the token generation event is to start from February 1st until the soft cap or hard cap is achieved. Participants will be rewarded with early bird discounts within the pre-sale period. Exshell Exchange and MUXE have given full support and funded CryptoProfile. The founder of MUXE, a Real Estate Blockchain Platform is Jaimy de Vries. The founders of Exshell are ex Huobi vice CTO Raymond Shen, and CMO Hugo Hu. In just a few months, the platform will be launched, and CP holders will be at the forefront of receiving airdrops from the best cryptocurrency startups in the market. Don't be left out. Support the token sale and become a top contributor. To find out more information, visit CP website: https://cryptoprofile.io
Connect on Facebook: https://www.facebook.com/cryptoprofile
Follow on Twitter: https://twitter.com/cryptoproglobal
Chat on Telegram: https://t.me/cryptoprofile
Get the latest updates on Medium: https://medium.com/cryptoprofile
CryptoProfile ICO Explainer Video: https://www.youtube.com/watch?v=j5FDmaC2IXg
CryptoProfile Youtube Channel: https://www.youtube.com/channel/UC2njk8tr7
CryptoProfile's ICO Ratings on ICOmarks 8.3/10: https://icomarks.com/ico/cryptoprofile
CryptoProfile's ICO Ratings on ICObench 4.7/5: https://icobench.com/ico/cryptoprofile
CryptoProfile's ICO Ratings on Cryptototem 8.8/10: https://cryptototem.com/cryptoprofile-cp
CryptoProfile's ICO Ratings on TrackICO 4.8/10: https://www.trackico.io/ico/cryptoprofile/
CryptoProfile listed in Coingecko: https://www.coingecko.com/en/ico/cryptoprofile Media Contact
Contact Name: Jaclyn Lim
Contact Email : jaclynlim@cryptoprofile.com
Contact Position : Co-Founder & Editorial of CryptoProfile
Contact Mobile Number : +65 9685 1385 CryptoProfile is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: The post PR: CryptoProfile Announces New Platform Set to Revolutionize the Cryptocurrency Industry appeared first on BitcoinNews.com.
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By Harold Vandelay on Feb 14, 2019 12:47 pm
As the traditional banking system continues to incorporate electronic and digital payments, the latest Wells Fargo outage illustrates that all is not well in the light of similar events this year with other major card service suppliers. With the US’s fourth-largest bank by assets falling foul of an ATM glitch in its system last week, denying customers access to their funds, Bitcoin- and cryptocurrency-dedicated websites and blogs wasted no time in pointing the way to hassle-free access to savings. Even though Wells Fargo suggested they had fixed the issue, customers continued to be shut out of their accounts on their computers or smartphones for days. The company really didn’t need this problem after the most ironic case for cryptocurrency investors last year when Wells Fargo was hit with a USD 575 million settlement after scamming its customers over a period of 15 years; this after they had conducted their own poll of US investors in 2018, claiming a skeptical 72% majority “have no interest in ever buying Bitcoin” and 75% who find Bitcoin to be “very risky”. As banking institutions race to upgrade systems, some admitting that blockchain may be a bonafide solution to the problem, outages continue to plague the banks. Both Mastercard and Visa went down in the space of a few weeks in July last year, both companies receiving a deluge of customer complaints from those unable to complete payments, along with a barrage of crypto tweets advocating Bitcoin. In Europe, Spanish-owned British bank TSB also suffered a protracted meltdown in their system locking out customers for days costing the bank some USD 425 million and alienating account holders. David Thomas of cryptocurrency brokerage GlobalBlock couldn’t resist commenting on Wells Fargo’s latest misfortune: “All manners of sardonic posts have been seen on social media channels following the event with many finding it hard to believe that in this day and age the infrastructure could be quite so antiquated and vulnerable to a melt-down.”
Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay The post Bank Outages Show System Vulnerabilities Bitcoin Users Avoid appeared first on BitcoinNews.com.
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By Harold Vandelay on Feb 14, 2019 10:46 am
As the much-discussed intuitional investment, hailed as cryptocurrencies jumpstart to a new crypto era, still awaits, a Chinese Bitcoin billionaire calls for patience. Zhao Dong, one of the world’s largest over-the-counter traders of Bitcoin, made the plea to the industry suggesting that it could be well into the year before the market gets the boost it needs. The entrepreneur was talking on a WeChat group called “The Public Chain Alliance Crossing The Bulls And Bears Elite Team”, when he made the call for patience. Zhao, another advocate of a USD 50,000 Bitcoin by 2021 not so long ago, said the “only thing you need is patience”, referring to a large investor surge into the market. He said that those who believed in the future of Bitcoin should hold “as much as possible when nobody cares”. He said also: “In the bull market, I don’t persuade people to buy bitcoin, because it seems easy to make quick money but in fact, it is not. Now [in the bear market], I start to talk people into buying bitcoin.”
Zhao certainly is not alone, with other high flyers in the industry talking up the flagship cryptocurrency this year, with just Twitter’s CEO Jack Dorsey recently predicting that Bitcoin was to become the internet's first “native currency”. As Bitcoin investors and traders wait for the highly-anticipated Bakkt bitcoin platform and a US Bitcoin exchange-traded fund to boost the price, Mike Novogratz predicts Bitcoin is on the recovery after a bubble burst and that it is in a period of “handing off ownership from the people’s revolution“. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay The post Chinese Billionaire Claims Bitcoin Patience Will Reap Rewards appeared first on BitcoinNews.com.
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By Harold Vandelay on Feb 14, 2019 08:44 am
An exchange that has recently added Ripple to its trading platform is happy to proclaim that in its view, XRP is a “Centralized Virtual Currency“, not strictly a cryptocurrency. The Finnish-based Coinmotion exchange’s definition for users could find that many enthusiastic customers may not be happy to read it: “What one needs to know about XRP is that it is not cryptocurrency in the strict meaning of the word… What differentiates XRP from cryptocurrencies is that it is not based on blockchain, it is not mined and it is heavily centralized. Ripple network is a suite of different applications by Ripple Labs. XRP, is the currency of Ripple network, which the apps use.”
Ripple CEO Brad Garlinghouse claims that XRP is in fact “very clearly decentralized”. The company has been moving from strength to strength within the industry, particularly with its link to traditional banking. Ripple Labs announced the addition of 13 more financial institutions to its RippleNet in January, which now takes the total to over 200. Coinmotion’s blog claims that Ripple’s network doesn’t use blockchain but relies on a Ripple Labs patented system called HashTree adding: “In HashTree all the transactions and balances are combined to a single number, which servers compare to each other to reach consensus. This kind of system is faster than blockchain, but far more centralized.”
The Finnish exchange ends its blog with a rather curious note to users, given that it chose to list XRP, stating, “Nonetheless since You, our dear customer, have asked for it, we have offered you the possibility to buy and sell XRP on Coinmotion.” Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay The post Exchange Listing XRP Says Ripple “Not Crypto” appeared first on BitcoinNews.com.
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By Harold Vandelay on Feb 14, 2019 06:41 am
An Israeli civil rights NGO has threated to take Coinbase to court over a Hamas cryptocurrency account. The official Telegram channel of Abu Obeida, a spokesman for Hamas’ Izz ad-Din al-Qassam Brigades, made the appeal for Bitcoin asking all the “supporters of our righteous cause to support the resistance financially using Bitcoin”. Shurat Hadin-Israel Law Center is suggesting that Hamas has set up a Coinbase account for this purpose and as such, donations to Hamas would be a violation of US federal law under the 1995 Counter-Terrorism Act. They stated in a letter to the US exchange giant: “It has recently come to our attention that the notorious Palestinian terrorist group Hamas currently maintains an account with Coinbase, Inc. (“Coinbase”), through which it is accepting donations.”
It added that Coinbase should immediately terminate all Hamas accounts. Bitcoin users would be quick to point out that Hamas would be free to use its own open source Bitcoin client as a wallet, should its Coinbase account be closed. As a decentralized and censorship-resistant currency, efforts to block or sanction it would be quite futile, as proven by the much-mocked attempts by the US government last November to sanction Bitcoin addresses. The territories of Gaza and the West Bank are separated from each other by Israeli territory. Both fell under the jurisdiction of the Palestinian Authority but Gaza has since June 2007 been governed by Hamas since 2006. There are reportedly now 20 unaccredited exchanges helping local cryptocurrency users to get their money abroad to make investments that otherwise they would have no chance of making in the region. In Gaza, a provider of Bitcoin to Palestinians recently maintained that his clients view Bitcoin as “cheaper, safer, and quicker”, maintaining that “nothing works with Palestinian banks” and that “Bitcoin wallets are alternative banks”. Late last year the US online payment service PayPal closed the account of the Germany-based NGO International Alliance – an organization that sympathizes with the Popular Front for the Liberation of Palestine terrorist organization and supports boycotting Israel, with PayPal simply stating that “This recipient is currently unable to receive money”. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay The post Israeli Civil Rights NGO Wants Coinbase to Close Hamas Account appeared first on BitcoinNews.com.
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By Talha Dar on Feb 14, 2019 02:52 am
Bitcoin Cash ABC developer Amaury Sechet was once again in the spotlight as he came clean on his earlier claim of being Satoshi Nakamoto and claimed that he did it to take a jab at Craig Wright and show how easy it is to attempt to impersonate Satoshi Nakamoto with no proof. Craig Wright, the guy behind Bitcoin SV, the other fork of Bitcoin Cash, remains one of the first and most famous people to go on to claim that they were the legendary unknown computer scientist who gave us Bitcoin and blockchain. Sechet claimed earlier that he was Satoshi himself and posted pre-existing signatures of the blockchain, just like Craig had done in his failed attempt. Bitcoin SV and Bitcoin ABC are two rival forks of Bitcoin Cash and thus it is natural for them to be competitive and pull each other’s leg. In an interview with CCN, Sechet talked in detail about his latest move and said how his attempt was a “demonstration of what others have done”. Just like Bitcoin News predicted, his claim could be easily proven false. Sechet said: “So, for example, a couple years ago Craig Wright claimed to 'prove he was Satoshi' by simply copying some pre-existing signatures out of the blockchain and posting somewhat obfuscated instructions on verifying them. It was figured out pretty quickly, but still managed to fool a lot of people– they were too caught up in the mumbo-jumbo to think of the obvious. It was a demonstration of what other scammers have done. It takes the wind out of their sails. Craig Wright, others before him. Others will do it after."
While Amaury may have tried to pull this off for publicity purposes and getting under the limelight, he rightly points out how easy it is to claim to be Satoshi himself and thus commit fraud. When Craig Wright did it, some people actually bought the argument. Sechet believes that once too many people have done it, the charm and the newsflash will eventually disappear. Satoshi Nakamoto, whatever his real name may be, gave the world one valuable thing that is changing the world around us. His identity is not important. The more he remains hidden the better. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: bitcoinnews.com The post Bitcoin Cash ABC Developer Isn’t Satoshi Nakamoto After All appeared first on BitcoinNews.com.
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Recap - Day in Crypto - BitcoinNews.com for 02/14/2019