Day: November 15, 2018

South Korea’s Gyeongbuk Province Launches ‘Special Committee’ to Create Blockchain Hub

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The government of South Korea’s Gyeongbuk province has launched a “Blockchain Special Committee” with the goal of creating a blockchain hub in the region, local media outlet Daily News reported Nov. 14. North Gyeongsang Province, also known as Gyeongbuk, plans to create a blockchain hub, inviting 40 domestic and foreign experts in the industry to consult on the project. Lee Cheol-uoo – a former member of the National Assembly of South Korea and current governor of the province – explained to local media the aims of the newly established committee…

Bitcoin Price Eyes $5K Defense as RSI Hits 4-Year Low

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Bitcoin is looking oversold after a drop to 13-month lows Wednesday and could defend immediate support at $5,000 in the next few days. The world’s top cryptocurrency by market value fell to $5,324 (price via Bitstamp) in a matter of hours yesterday, reaching its lowest level since Oct. 18. The average price across major exchanges, as calculated by CoinDesk’s Bitcoin Price Index fell 10 percent – the biggest single-day drop since March 30. While BTC had supposedly carved out a long-term bottom around $6,000, the convincing break below that level…

Acting AG Backed Alleged ‘Invention-Promotion Scam’ Touting ‘Time Travel’ Crypto

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Acting U.S. attorney general (AG) Matthew G. Whitaker has come under fire for his association with an allegedly fraudulent patent company that involved cryptocurrency, U.S. news journal MotherJones reported Nov. 14. Whitaker, a Trump loyalist, was appointed by the U.S. president to replace former attorney general Jeff Sessions Nov. 7. Among other controversies, Whitaker is now being scrutinized for his involvement with “World Patent Marketing,” an alleged scam that marketed sundry outlandish products from aspiring inventors, including a “theoretical time travel commodity tied directly to price of Bitcoin.” As MotherJones…

EOS Proves Yet Again That Decentralization Is Not Its Priority

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Recently, Blockchain protocol EOS became subject of a new scandal: its governance model was questioned, as evidence showing a moderator reversing transactions which had already been confirmed surfaced on Reddit. Crypto community was triggered once again, but perhaps it is time to face it: EOS is not really decentralized. At least it is isn’t what EOS “is after”, in the words of its co-founder Daniel Larimer. What is EOS and how it works? EOS.io is a blockchain-powered smart contracts protocol for the development, hosting, and execution of decentralized applications (dApps).…

Hash War is On: Craig Wright Threatens to Crash Bitcoin Price Down to $1000

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In his tweet, Wright warned Bitcoin miners that, if they continue their support for the Roger Ver/Jihan Wu (Bitmain)-backed Bitcoin Cash ABC (BCH) over his Bitcoin Satoshi’s Vision (BSV) project, he would be look to fund his side of any ensuing ‘hash war’ battle by selling off Bitcoins. To all BTC miners… If you switch to mine BCH, we may need to fund this with BTC, if we do, we sell for USD and, well… we think BTC market has no room… it tanks. Think about it. We will sell…

Hong Kong Exchange KuCoin Nets $20 Million Investment From Major VC Firms

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Hong Kong-based international cryptocurrency exchange KuCoin has closed a Series A funding round worth $20 million, the company confirmed Nov. 14. Led by IDG Capital, Matrix Partners and Neo Global Capital, the funds will go towards the release of KuCoin’s 2.0 platform, expansion into new markets, research and more. “We will continue to spare no effort in exploring the best hidden gems in the crypto world while growing exponentially on a global scale and, more importantly, solidifying our position as ‘The People’s Exchange,’” officials commented in the release. Strategically affiliated…

Scotcoin to Allocate Part of Sales to Scotland’s Homeless

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Twitter Facebook LinkedIn Scotcoin will donate £5 off every £20 it earns from its token sale to homeless people, revealed a local source. The cryptocurrency project, which aims to tackle poverty and fund charity ventures, announced that it would join hands with Social Bite, a Scotland-based nonprofit venture looking to end homelessness. Together, the organizations would generate funds to make houses available to the homeless population in Scotland. They would pay for the tenancies and would also assist these people getting back into the society. The announcement comes ahead of…

Bitcoin Price Watch: BTC/USD Breakdown Looks Like Real Deal

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Key Points Bitcoin price nosedived below the $6,150 and $5,650 support levels against the US Dollar. There is a short term contracting triangle formed with resistance at $5,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could correct higher, but upsides are likely to face sellers near $5,615 or $5,815. Bitcoin price declined heavily towards $5,400 against the US Dollar. BTC/USD may recover a few points, but upsides are likely to be capped by $5,800. Bitcoin Price Analysis Yesterday, we discussed a possible sell…

Regulatory Clarity Will Drive Crypto, Blockchain Adoption

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Twitter Facebook LinkedIn Commenting on the importance of regulation in the technology sector, Brad Garlinghouse, CEO of Ripple, said that introducing regulations will lead to blockchain and cryptocurrency adoption. Garlinghouse made these remarks while talking to the Deputy General Counsel, Ross Leckow, of the International Monetary Fund (IMF) at the Singapore Fintech Festival. The topic of their discussion revolved around the regulatory frameworks emerging in the Association of Southeast Asian Nations (ASEAN). Some of the ASEAN members include Singapore, Indonesia, Thailand, Malaysia, Philippines, among others. The Importance of Internet of Value “Regulatory clarity…

Canadian Bank Announces Digital Safety Deposit Box for Crypto Exchanges and Investment Funds

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VersaBank, formerly Pacific & Western Bank of Canada, announced one of its subsidiaries has completed beta testing for its digital safety deposit box and is now entering the commercialization phase, which will include the offering of digital safe keeping as well as multi signature services for cryptocurrency exchanges and crypto-based investment funds. Canadian VersaBank Announces Digital Safety Deposit Box for Cryptocurrency Holdings The testing phase of the company’s digital safety deposit box was conducted to ensure the product’s design would meet the specific requirements of cryptocurrency exchanges and crypto funds. Target clients…