Day: February 18, 2019

Another Bitcoin Break Near $4000 or Are The Bulls Rushing the Gate?

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Bitcoin is over $3900 globally, though many exchanges still have it trading closer to $3850. Ethereum’s broken beyond $140, might take $150 before the day is through. Bitcoin Cash is right behind it. It’s green everywhere you look. Even Bitcoin SV is on the rebound, resting at $68 after $155 million in trades. Of the top 100 cryptocurrencies, only 4 were showing a negative 24-hour change. One was Paxos Standard. We should expect a high amount of conversions to be going on with stablecoins today, a lot of turbulence in…

Blockstream Publishes Schnorr-Based Test Code for Bitcoin Blockchain Upgrade

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The Schnorr-based multi-signature scheme MuSig, a test code for a potential upgrade to the Bitcoin (BTC) blockchain, has been released by blockchain tech firm Blockstream, according to an announcement published on Feb. 18. Last January, four Bitcoin developers released a paper outlining how Schnorr multi-signatures (‘multisig’) could help scale the Bitcoin blockchain, saying that the technology could reduce its transaction size and “improve both performance and user privacy in Bitcoin”. In the paper, the developers state that MuSig is designed as “a protocol that allows a group of signers to…

Major Chinese University Launches Blockchain Research Center

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One of the most selective universities in China, Fudan University, has opened a blockchain research center, according to an announcement published on Feb. 15. Per the announcement, Fudan University established the Shanghai Blockchain Engineering Technology Research Center in collaboration with Zhongan Online Property Insurance Co., Ltd. and Shanghai Zhongren Information Technology Co., Ltd. The center will purportedly carry out basic research on blockchain technology, demonstrate its application, as well as provide associated talent training. The establishment of the Shanghai Blockchain Engineering Technology Research Center will further promote the development and…

Bitcoin Unable to Solve Problems of Traditional Payment Systems

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An official from Spain’s central bank, the Bank of Spain (BDE) believes that Bitcoin (BTC) is unable to resolve the problems faced by major payment systems. BDE’s Deputy General Director for financial innovations and market infrastructure, Carlos Colesa, gave his opinion on the leading cryptocurrency in a report published on Sunday, Feb. 17. The study dubbed “Bitcoin: a solution for payment systems or a solution in search of a problem?,” is marked as an “occasional paper,” according to Cointelegraph en Español. This  means that the Bank of Spain does not…

Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, February 18

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. CNBC commentator and CEO of digital currency investment firm BKCM LLC, Brian Kelly, believes that, “Bitcoin is about 50 percent undervalued.” However, just because it is undervalued is not a good enough reason for it to move up. Kelly opines that due to extreme…

Major Omani Bank Joins RippleNet Cross-Border Payment Network

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Oman’s second largest bank by market value, BankDhofar, has begun using RippleNet technology for cross-border payments to India. The news was tweeted by the managing director of South Asia and MENA at Ripple, Navin Gupta, on Feb. 16. RippleNet is a global blockchain-based payment network of institutional payment providers, that was developed by technology company Ripple. In January, RippleNet expanded its network to over 200 customers, including such industry players as JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank. Per the recent announcement, BankDhofar has become the first bank in…

Bitcoin Price Breaks Medium-Term Resistance after Surging 8% in a Day

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The Bitcoin market came back on its bullish track during the February 18’s trading session. The Bitcoin-to-Dollar rate (BTC/USD) on Monday established an intraday high towards 3917, up 8.08% since the open. The pair rallied through the Asian session and continued its upside momentum after the European market opened. Around 1600 UTC, BTC/USD also broke through a strong resistance trendline of the medium-term triangle pattern discussed in our Bart Simpson analysis. Have a look: BITCOIN PRICE 4H CHART | SOURCE: COINBASE, TRADINGVIEW.COM Last week, we had left the Bitcoin market…

Everything You Should Know About Bitcoin Address Formats

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A wallet address, comprising a string of 26-35 alphanumeric characters, is all it takes to send and receive bitcoin. Any bitcoin address can be used to transfer cryptocurrency to any other address on the network, provided the sender’s wallet software supports that address type. With multiple address formats to choose from, and wallet providers and exchanges only supporting certain address types, it pays to familiarize yourself with the differences. Also read: Bitcoin Cash-Focused Ifwallet Implements Cash Accounts Name System Address Formats Are the Internet Protocol of Bitcoin Just as there…

Germany Explores Blockchain Strategy as Bitcoin Wars Heat Up

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Germany ― Europe’s largest economy ― may be hopping on the bitcoin bandwagon as it explores how to deploy blockchain across various industries. The German government has launched a consultation process in a bid to formulate a comprehensive blockchain strategy before the summer begins. Berlin is a tech hub that’s home to 170 startups that could use blockchain, the technology underpinning bitcoin. Government sources told Reuters that industry groups and companies have been invited to offer their recommendations for incorporating blockchain to bolster the German economy. Sources say there is keen…

Tim Draper Predicts Crypto Will Rule, Only Criminals Will Use Cash in Five Years

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Billionaire investor and known Bitcoin (BTC) bull Tim Draper argued that in five years, only criminals will use fiat as crypto becomes universally widespread. Draper made his claims in an interview with American financial news tv channel Fox Business released on Feb. 18. Reiterating his previous statements predicting that fiat money will become laughable and obsolete in five years, Draper has elaborated on his forecast, stating that nobody but criminals will keep using cash, since criminals who use crypto can be tracked via blockchain. He said: “The criminals will still…