Day: September 14, 2018

Ethereum Price Analysis: ETH/USD Skyrockets Above $210

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Key Highlights ETH price surged higher and broke the $200 resistance against the US Dollar. There is a short-term ascending channel in place with support at $216 on the hourly chart of ETH/USD (data feed via Kraken). The pair is following a solid bullish bias and it could continue to move higher towards the $235-240 levels. Ethereum price gained bullish momentum against the US Dollar and bitcoin. ETH/USD rallied above the $210 resistance and it looks set for more gains. Ethereum Price Rally Finally, there was a sharp upward move…

Bitcoin Cash Price Analysis: BCH/USD Could Recover Towards $500

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Key Points Bitcoin cash price started an upside correction and moved above the $450 resistance against the US Dollar. There was a break above this week’s followed key bearish trend line near $445 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair climbed above the $450 and $460 levels and it may continue to trade higher towards $500. Bitcoin cash price recovered nicely from the $410 low against the US Dollar. BCH/USD is likely to recover further towards the $480 and $500 levels. Bitcoin Cash…

Ethereum’s Vlad Zamfir Claims Breakthrough In Blockchain Sharding

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Ethereum might just be one step closer to sharding its blockchain. At least that’s according to long-time blockchain researcher Vlad Zamfir, who claims to have coded up a successful proof-of-concept of the idea at the ethereum hackathon EthBerlin this week. Built with the help of several other developers, including Tim Beiko and John Marling, the code is said to demonstrate how different ethereum shards may be able to someday communicate on the blockchain. Stepping back, sharding is an experimental scaling solution touted as a way to alleviate the strain of…

CEO Behind GAW Miners, PayCoin Ponzi Scheme Sentenced to 21 Months in Prison

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Homero Joshua Garza, the CEO of the now-defunct U.S. crypto firm GAW Miners, has been sentenced to 21 months in prison for defrauding investors, local news agency Hartford Business reports Thursday, September 13. Garza received the verdict in the Hartford federal court, following his guilty plea to a wire fraud charge related to creating and selling a scamcoin dubbed PayCoin (XPY). Instead of serving the original 20 year sentence, Garza will report to prison on January 4, 2019 and be jailed until 2021, with an additional three years of supervised…

Ubisoft quietly unveils HashCraft, a new blockchain game

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Ubisoft showed off a prototype for a blockchain game called HashCraft at Blockchain Gamer Connects San Francisco, according to a write-up on the in-development project from the Australian website Finder. Ubisoft is far from the first game developer to explore using emerging blockchain technology for video games, other companies have looked to the tech for digital publishing or social VR spaces, however, Ubisoft’s application shows off one of the ways in-game content can be stored and shared using the blockchain. In its current state, Ubisoft’s blockchain project is a sandbox creation game, similar…

IBM Joins Decentralized ‘Yellow Pages’ for Blockchain Projects

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IBM has joined a decentralized cross-blockchain registry initiative which it states is a Yellow Pages analogue for blockchain projects, according to an announcement September 13. The initiative called Unbounded Registry will be led by blockchain startup HACERA, and is designed to provide “a decentralized means to register, look up, join and transact across a variety of blockchain solutions, built to interoperate with all of today’s distributed ledger technologies.” The project will reportedly address major issues in the field, including reserved naming for blockchain projects, the discoverability of blockchain networks and…

Hard Forks Constitute Threat to Cryptocurrency Stability

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A new study suggests that the stability of digital currencies is threatened by software updates, known as “hard forks,”according to a September 12 press release. The study states that clear guidelines on software updates could help stabilize cryptocurrencies. The paper was prepared by a group of researchers, led by the Oak Ridge Institute for Science and Education fellow Benjamin Trump, who reviewed the state of cryptocurrency “forks” by investigating over 800 soft forks and hard forks from Bitcoin (BTC). While the study says that digital currencies have the potential to…

A Double Bottoms Kick-starting Litecoin Recovery

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Other than ETH which is up 13 percent, Litecoin remains the last 24 hours top performer adding 12 percent. The result is that morning star pattern and rejection of bears at Aug 2018 lows at around $45-$50. Going forward, we suggest small size Litecoin buys for risk off traders with first targets at $70. Afterwards, conservative traders can pick up longs should buyers close above it. From the News Aside from the slide in Litecoin’s market cap, there are many developments that are supportive of Crypto—in the long run since…

ICOs Sold 160,000 Ethereum Over the Past 10 Days

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In the past 10 days, Initial Coin Offering (ICO) projects have sold three times more Ethereum (ETH) than they did in August, according to research by TrustNodes published September 13. The 160,000 Ethereum tokens sold over the past few days amount to $33 million, according to the price index at press time. Per TrustNodes, ICO projects sold 82,000 ETH on September 4, which was followed by a sharp decline in crypto markets. Average daily ETH sales from ICOs varied from 1,000 to 5,000 coins in August, with occasional sales around…

Josh Garza Sentenced to 21 Months for GAW Miners and PayCoin Scams

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Josh Garza Sentenced to 21 Months for GAW Miners and PayCoin Scams September 13, 2018 by Jon Southurst A Connecticut court has sentenced cryptocurrency scammer Josh Garza to 21 months in prison for his role in wire frauds that cost investors over $9.18 million USD. The CEO of the now-defunct company GAW Miners and founder of PayCoin was also ordered to repay investors’ losses in full. Also see: Will the New Stable of Stablecoins Help Soothe Nerves, Wean Industry Off Tether? Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders…