Day: August 29, 2019

Bitcoin Price Update: Where do we go from here?

boss

Well, Bitcoin (BTC) decided to take the bearish path, or maybe larger players that shape the market made the choice for it. The ascension from the narrowing pennant proved to be a fakeout and a tweezer top at $10,278 was followed by a sharp reversal all the way to the bottom of the larger bull pennant that Bitcoin has traded in since topping out at $13,800 on June 26th.  The majority of popular crypto-Twitter traders fell mysteriously mute as the carnage unfolded on August 28. As mentioned previously, the danger…

Mercedes-Benz in China Joins PlatOn for Blockchain Used Car Data

boss

Blockchain solutions company PlatOn has created a platform for storing data and calculating the price of used business cars at Beijing Mercedes-Benz Sales Service (BMBS). Calculating and monitoring car price PlatOn shared the news with Cointelegraph on Aug. 29. According to the announcement, PlatON’s blockchain-based Vehicle Residual Value Management Platform can store both static and dynamic data, which will be used to automatically calculate the residual value of registered vehicles over time.  Additionally, the Vehicle Residual Value Management Platform will reportedly be open to the used car market, including entities…

Thai Customs Department Plans to Use IBM’s Tradelens to Track Shipping

boss

Thailand’s Customs Department intends to use IBM’s Tradelens blockchain solution to track shipping in Thai ports. According to an announcement published on Aug. 28 on the Thai Customs Department’s official website, the country plans to use Tradelens, a blockchain logistics system. Local news outlet Bangkok Post reported the next day that the platform is expected to streamline operations by managing shipment tracking and information sharing. Thailand’s push for innovation The Tradelens platform is the joint project of transport giant AP Moller-Maersk and IBM. The decision to adopt it in the…

3 Simple Reasons NOT to Buy the Bitcoin Dip – CCN Markets

boss

Cutting through the squiggly lines of technical analysis, here are three very simple reasons why you should NOT be buying any Bitcoin in the short term. | Source: Shutterstock Bitcoin’s recent drop below $10,000 split an already fractured cryptocurrency community into two distinct camps. On one side are the optimists who believe Bitcoin’s drop to $9,400 is merely a blip on the way to the moon – and an excellent opportunity to buy more coins. On the other side are those who believe the summer pump is over and more…

Bitcoin Price Hovers Around $9,500 Following Sudden Price Drop

boss

Thursday, Aug. 29 — Top cryptocurrencies Bitcoin (BTC) and Ether (ETH) are still in the red, though XRP has managed to see minor gains on the day.  Market visualization. Source: Coin360 Bitcoin is trading at $9,496 at press time, marking a 1.85% price drop on the day. Yesterday, BTC, ETH and XRP all dropped sharply in price from 5:45 p.m. to 6:20 p.m. UTC. BTC in particular fell below the $10,000 price point, and continued to slip to under $9,500 earlier today. Regular contributing analyst Josh Rager commented that he…

Telegram to Release TON Blockchain Code on September 1

boss

Telegram will release the code required to run a Telegram Open Network (TON) node on September 1, according to individuals close to the project. The news was confirmed by two individuals familiar with the project, an investor and an affiliate with TON labs. There has been a high level of secrecy around the project, and some analysts have previously raised concerns regarding the lack of activity from Telegram on advancing its proposed blockchain. Francois Pouliot, a prominent crypto analyst, said, “Is the real use-case of blockchain technology the elaboration of…

Ethereum Muscles Bitcoin Out of Tether Racket – CCN Markets

boss

The Ethereum issuance of Tether (USDT) is quickly becoming the most utilized version of the stablecoin – and pushing Bitcoin and Omni out of the game. | Source: Shutterstock Tether (USDT) transactions on the Bitcoin blockchain are losing ground to Ethereum at an ever-increasing rate. Ever since the Tether stablecoin was issued on Ethereum in January 2018, it has slowly gone on to become the most utilized version of the USDT token (of the four in existence). Data from Coinmetrics.io shows the gradual takeover of Tether transactions by the Ethereum…

Dharma Announces Closed Beta for Version 2 of Lending Platform

boss

San Francisco-based crypto lending and borrowing firm Dharma has announced the start of a closed beta for a new version of its platform. Upcoming changes and short-term timeline Dharma announced its new platform iteration in an official blog post on Aug. 29. According to the announcement, Dharma has partnered with the Ethereum-based money market Compound and will reportedly use its protocol as infrastructure for the new platform. Additionally, Dharma will now make its smart contracts open source prior to production, per the announcement. Dharma V2 is currently in closed beta,…

US SEC Reaches $10 Million Settlement with Digital Assets Issuers

boss

The United States Securities and Exchange Commission (SEC), a primary governmental regulator, has settled charges with digital assets company Bitqyck Inc. and its founders. Smart contracts and crypto mining? The SEC announced the development in a press release on Aug. 29. According to the announcement, Bruce Bise and Sam Mendez­ are the founders of Bitqyck — a company that provided security offerings for digital assets Bitqy and BitqyM in Dallas, Texas. The company claimed that Bitqy tokens gave investors fractional shares of company stock via a smart contract. Additionally, Bitqyck…

China Telecom Releases White Paper on 5G Blockchain Phones

boss

Major phone operator China Telecom has released a white paper on blockchain-powered smartphones in the 5G Era. China Telecom introduced the white paper at the China International Intelligent Industry Expo on Aug. 27, according to a report by local finance news outlet Sina. Existing troubles In the document, China Telecom pointed out the potential benefits of applying blockchain technology to mobile phones, including automation and transaction traceability. According to Sina, China Telecom’s white paper says that people can master their own digital asset in 5G era, while “regardless of data…