Day: September 20, 2018

Commodity Traders, Major Banks Back New Blockchain Platform

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A group of commodity traders and financial institutions have unveiled a new blockchain venture. The banks involved in the new platform, dubbed Komgo SA, include ABN Amro, BNP Paribas, Citi, Crédit Agricole, MUFG Bank and Societe Generale, among others. The project has attracted a notable list of trading firms, including Koch Supply & Trading and Mercuria, as well as energy giant Shell and inspection firm SGS. Macquarie, Rabobank and Natixis are among the companies establishing the new venture. Ethereum startup ConsenSys is partnering with the companies on the development of the platform.…

Crypto Advocate Cody Wilson Charged With Child Sexual Assault

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Cody Wilson, founder of the 3-D printed gun company Defense Distributed and cryptocurrency advocate, has been charged with sexually assaulting a minor. According to an affidavit, Wilson was accused of assault against an unnamed minor he allegedly met through an online dating site. Wilson, who has butted heads with the U.S. government over his advocacy for 3-D printed firearms, was one of the main developers of the privacy-centric bitcoin wallet DarkWallet and is a funder of a coding academy launched by developer Amir Taaki. Magistrate judge Tamara Needles, of the Travis…

Stripe Co-Founder Sees Potential in Cryptocurrencies Despite Dropping Bitcoin

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Stripe, the San Francisco based company that became the first major online payments platform to accept Bitcoin has ditched the token due to its high volatility. However, its co-founder John Collison still sees future for cryptocurrencies, Recode reported on September 17. Giving up on Bitcoin For years, Stripe has been synonymous in the startup world with online payments. But it wants to be known for more. However, the San Francisco-based company ditched Bitcoin as a means of payment, despite becoming one of the first major online payments platforms to accept…

Bitcoin Price Watch: BTC/USD Preparing for Next Upside Wave

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Key Points Bitcoin price recently dipped and then rallied above the $6,400 level against the US Dollar. There was a break above two bearish trend lines with resistance at $6,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting lower, but it remains supported near the $6,320-00 zone. Bitcoin price is positioned in the positive zone above $6,300 against the US Dollar. BTC/USD could move back higher towards $6,500 in the near term. Bitcoin Price Analysis There were a couple of nasty…

The Bitcoin Core bug fix handle core team

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Bitcoin has been found with a hidden bug  After the release of the Bitcoin core wallet software, version 0.16.3 on September the 18th 2018, there have been some issues concerning the new version. This update is one that was critical to the Bitcoin Core network, as this will eliminate a double spend bug problem that was laying dormant and hidden in the Bitcoin code. This bug can potential crash all the Bitcoin core wallet if left unresolved. The Bitcoin Core wallet software is essential to the Network as there are more than 94% of Bitcoin…

Ripple Price Analysis: XRP/USD Signaling Upside Extension

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Key Highlights Ripple price surged higher recently and broke the $0.3200 resistance level against the US dollar. There is a major contracting triangle in place with resistance at $0.3300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct a few points, but it remains supported above the $0.3100 level. Ripple price is trading with a bullish bias against the US Dollar and Bitcoin. XRP/USD needs to gain above $0.3350 for a push towards the $0.3500 level. Ripple Price Rise Yesterday, we saw a…

Coinbase Disputes Claims in New York Attorney General’s Exchange Report

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A recent report published by the New York Office of the Attorney General (OAG), which claimed several cryptocurrency exchanges it investigated are vulnerable to market manipulation, has drawn backlash from industry players. In a blog post published Thursday, Coinbase’s chief policy officer, Mike Lempres, wrote that the OAG’s assertions in the report have led to misrepresentation of the exchange’s business in the media. The OAG wrote in its original report: “Coinbase disclosed that almost 20 percent of executed volume on its platform was attributable to its own trading.” In response, Lempres clarified…

Coinbase Refutes Claims in New York Attorney General’s Exchange Report

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A recent report published by the New York Office of the Attorney General (OAG), which claimed several cryptocurrency exchanges it investigated are vulnerable to market manipulation, has drawn backlash from industry players. In a blog post published Thursday, Coinbase’s chief policy officer, Mike Lempres, wrote that the OAG’s assertions in the report have led to misrepresentation of the exchange’s business in the media. The OAG wrote in its original report: “Coinbase disclosed that almost 20 percent of executed volume on its platform was attributable to its own trading.” In response, Lempres clarified…

Cardano Price Analysis: ADA/USD Eyes Upside Break above $0.075

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Key Highlights ADA price is trading nicely above the $0.0650 support area against the US Dollar (tethered). There is a key bullish trend line in place with support at $0.0700 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is likely to move higher above the $0.0740 and $0.0750 resistance levels in the near term. Cardano price is positioned in the bullish zone against the US Dollar and Bitcoin. ADA/USD could move above the $0.0750 resistance to test $0.0800. Cardano Price Analysis After forming a…

In the Future All Our Stuff Is Gonna Be Traded on the Blockchain

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PAPERCRAFT The companies that trade commodities like oil and wheat make a lot of money. But they also do a lot of paperwork. They have to send invoices, contracts, and letters of credit around the world, and it’s pretty tedious and time-consuming. Now, a consortium of prominent energy and financial institutions including Royal Dutch Shell and Citigroup plans to start trading commodities on a new blockchain platform called Komgo. “Blockchain technology will answer the needs of key participants in commodity trading by improving efficiency and security,” said Souleima Baddi, the chief executive…