Day: November 14, 2018

Thai SEC Urges Public to Avoid Unlicensed Crypto Exchange as Regulation Set to Take Effect

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Thailand’s financial regulator has told a cryptocurrency exchange to cease advertising and warned citizens not to use it due to legal uncertainty, the Thai Securities and Exchange Commission (Thai SEC) reported Tuesday, Nov. 13. In the release, the Thai SEC said it had not officially endorsed Q Exchange, a joint Thai and South Korean venture, within the framework of its new cryptocurrency laws. The Q Exchange, which reportedly offers ten crypto including Ethereum (ETH) and Bitcoin (BTC), noted that it had plans to launch its Q Token on Oct. 25, Thai…

The Bitcoin Cash Hard Fork–A Who’s Who and Everything You Need to Know

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The Bitcoin Cash Hard Fork–A Who’s Who and Everything You Need to Know November 14, 2018 by Paul de Havilland The November 15th, 2018 Bitcoin Cash hard fork is fast approaching and is set to be the second-most controversial fork thus far in the 10-year history of cryptocurrency (second only to its original fork from bitcoin itself). This is not just another Rhett Creighton shitcoin fork for fun. It involves power, politics, and people with lots of money and even more ego publicly trading blows to get the upper hand.…

Bitcoin Price Watch: BTC/USD Remains Sell On Rallies Near 100 SMA

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Key Points Bitcoin price declined further and traded below the $6,275 support level against the US Dollar. There are two bearish trend lines formed with resistance at $6,300 and $6,340 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains at a risk of more losses below the $6,250 support in the near term. Bitcoin price is placed in a bearish zone against the US Dollar. BTC/USD could recover, but upsides are likely to be capped around the $6,340 level. Bitcoin Price Analysis During the…

Central Bank Digital Currencies Could Have Legitimate ‘Role,’ Says IMF’s Lagarde

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The head of the International Monetary Fund (IMF) has said the international community should “consider” endorsing central bank issued digital currencies (CBDCs) in a speech at the Singapore Fintech Festival Nov. 14. IMF managing director Christine Lagarde said that despite being “not entirely convinced” on the concept of cryptocurrencies more generally, there may be a case for states to issue government-backed tokens or similar assets. “I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital…

Bank of America Wins Patent for Storing Clients’ Crypto Holdings in Enterprise Accounts

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The Bank of America (BoA) has won a patent for a system for enterprises to store customers’ crypto deposits, published by the U.S. Patent and Trademark Office (USPTO) yesterday, Nov. 13. The patent, first filed in mid-June 2014, outlines the background to the invention by stating that “as technology advances, financial transactions involving cryptocurrency have become more common,” and noting: “For some enterprises, it may be desirable to aggregate cryptocurrency deposited by customers in an enterprise account.” The patent filing outlines different interactions between customers’ crypto holdings and an enterprise…

Bear Market and Declining Hashrates Mean Mining ETH No Longer Profitable, Analysis Finds

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Mining Ethereum (ETH) using a graphics processing unit (GPU) is no longer profitable, according to an analysis from U.S.-based global trading and technology firm Susquehanna. CNBC reported Nov. 13 on Susquehanna’s findings, which point to the protracted slump in crypto markets and declining network hashrates as reasons for the profit decrease. In Susquehanna’s analysis, profit per month for ETH miners using GPU-based setups hit a round $0 as of Nov. 1 this year, down from almost $150 in July 2017. Susquehanna notes the decline in Ethereum’s price as a major…

Australia’s Science Agency & Commonwealth Bank Trial Blockchain ‘Smart Money’

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Twitter Facebook LinkedIn A trial conducted by the Commonwealth Bank of Australia and the Data61 unit of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) has proven that blockchain-powered smart money possesses immense social and economic benefits for Australia’s insurance scheme for persons living with disabilities. In the proof of concept, it was demonstrated that participants in Australia’s National Disability Insurance Scheme (NDIS) benefited from increased choice and control using the smart money that they accessed via a prototype app. Not only were administrative costs reduced but the risk of…

Ripple Price Analysis: XRP/USD Sellers In Control Below $0.5200

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Key Highlights Ripple price declined recently and tested the $0.5000 support area against the US dollar. There is a major bearish trend line in place with resistance at $0.5120 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently under pressure below the $0.5120 and $0.5200 resistance levels. Ripple price is struggling to gain bullish momentum against the US Dollar and Bitcoin. XRP/USD may continue to consolidate below $0.5200 for the next few sessions. Ripple Price Analysis After testing the $0.5200 resistance, ripple price…

$3 Billion Deleted From Crypto Market as Big Digital Assets Perform Poorly

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Twitter Facebook LinkedIn Over the last 24 hours, the crypto market has seen a drop of $3 billion from $212 billion to $209 billion, as major cryptocurrencies including Stellar (XLM) and Cardano (ADA) have fallen by 3 to 6 percent. Peculiarly, Stellar and Cardano are amongst three cryptocurrencies alongside Zcash that are expected to be integrated into Coinbase, the world’s fourth-largest fiat-to-crypto exchange behind Bitfinex, Bithumb, and Upbit. Why are Stellar and Cardano Falling? Prior to their listing, Basic Attention Token (BAT) and 0x (ZRX) recorded gains in the range…

Cardano Price Analysis: ADA/USD Could Extend Declines To $0.072

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Key Highlights ADA price failed to stay above the $0.0760 support and extended losses against the US Dollar (tethered). There was a break below a key bullish trend line with support at $0.0760 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair may perhaps continue to move down towards the $0.0730 or $0.0720 support. Cardano price is slowly moving lower against the US Dollar and Bitcoin. ADA/USD could accelerate declines towards the $0.0720 support in the near term. Cardano Price Analysis Recently, cardano price settled…