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Blockchain For Dummies

Blockchain is a term that gets thrown around a lot through various media. It is even on the news every now and then. The term has also spawned its own verb. Many of you have heard about “blockchainizing” something, but can someone explain in simple terms what is a blockchain? What exactly is this technology all about? Why should you care?

Blockchain for Dummies Chapter 1: What is a Blockchain?

The simplest way of explaining what a blockchain is, is to start by explaining what a block is. A block is basically like a small Excel spreadsheet in which transactions can be recorded. On a block we can see who transferred funds, to whom, how much and at what time the transaction was stamped. The transactions on that block are a part of a shared ledger of multiple transactions on preceding and subsequent blocks. Most of these transactions are related to one another.

That collection of preceding and subsequent blocks is therefore called a blockchain. The blockchain is a ledger of all the transactions made within a certain network like Bitcoin for instance. Each block has a unique marker on top and – in proof of work or PoW blockchains – it is hashed by miners. These miners get a reward for hashing the block, which is tantamount to finding that unique marker on top of the block and broadcasting that to the network.

Blockchain-Powered Networks Require Consensus to Run

There is a chance that two miners will find a block at the same time, which would generate a split in the blockchain, since now subsequent blocks could follow any of the two previous blocks. Therefore, blockchains have mechanisms to build consensus about which block to follow as the next link in the chain. Consensus rules dictate that the largest portion of the chain is the one that should be followed if two blocks come out simultaneously.

Transaction Confirmation

That is partly why many service providers require more than one confirmation to accept a transaction. Confirmations are based on a time stamp that miners give to a transaction, and the subsequent consolidation of that information through a reference to the block in which that transaction was confirmed, within subsequent blocks.

This Process is Messy!

The complexity of keeping these ledgers with transactions running and references to previous blocks in subsequent blocks, while at the same time making sure that there is only one chain, makes the process messy. It also makes it highly complex. Actors – nodes – within a blockchain network must be able to communicate and solve discrepancies quickly, while keeping bad actors from corrupting the chain.

The mechanisms blockchain-powered networks use to make sure this happens vary. These mechanisms are also quite complex, and it requires quite a bit of technical knowledge to understand them at the highest level. Nevertheless, it is possible to explain them conceptually so that everyone can understand how a blockchain works.

Can we Have Our Blockchain for Dummies Already?

So, the best way to synthesize this to make a blockchain for dummies guide, is to keep it simple: A blockchain is the backbone of a system in which we do not need intermediaries to trade with one another. This is possible because there is a public ledger of every transaction made within that network. Each of those transactions is recorded on a block. Those blocks are basically pages in the same ledger. The transactions within them allow us to check who the funds belong to, in order to broadcast subsequent transactions.

Each block has a cryptographic reference of the previous block, which allows us to understand that it is the next link in the chain. The whole process of confirming transactions, makes them irreversible, and allows us to keep on recording future transactions in the same way, keeping bad actors who would like to trick us, away. This is the best way to craft an explanation about blockchain for dummies.

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Endorphina’s Next Fiery Slot Game Drops to Continue their Hottest saga Yet

Endorphina has just announced that another game of their fruity and fiery fusion game saga will make its debut in casinos. After the successful release of Lucky Streak 1 and Lucky Streak 2, now’s the time for another fruit gem of this hot saga to land inside providers’ portfolio.

The Czech-based provider Endorphina is known for their colorful and playful games and various themes. But one thing’s for sure – fruit games keep their spot at top ranking positions worldwide. And this is why players are in for an extra flare inside of Endorphina´s Lucky Streak 3.

Nikita Gorshkov, Head of Account Operations of Endorphina:

“Lucky Streak 3 is rocking the darkest atmosphere with the highest amount of flames in the game in hopes to spark players´ interest and set theirs hearts on fire. The gameplay is pretty straightforward and the beautiful polished symbols with a rather old-school vibe will allow everyone to enjoy this 3-row and 3-reel game.”

Endorphina, known for creating extravagant and one-of-a-kind slot games such as Taboo, Twerk, Diamond Vapor and Satoshi’s secret, makes sure to add in some of those classic slot games to keep the proper balance. This way, players who enjoy a traditional style as well as those who prefer to go wild, will both be able to enjoy the gameplay.

By adding Lucky Streak 3, this provider will get pretty close to achieving 60 slot games in their portfolio offered to clients worldwide. We predict that Lucky Streak 3 has a bright future with many happy and lucky players to come.

Learn more about the game on Endorphina’s site: https://endorphina.com/games/lucky-streak-3 Get in touch with Endorphina: https://endorphina.com/ or at [email protected]

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lewisgabriel84z31 · 5 years

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Bitcoin Charts – How to Read Them?

Getting into the world of cryptocurrency trading can be challenging at times. This is particularly true if you are trying to understand the wide variety of graphs that you will inevitably come across on your trading journey. We have compiled this simple and easy to follow guide to help you read the charts associated with Bitcoin trading and give you some pointers of things to look out for. For this guide, we will be focusing on buying and selling options and using the real exchange interface to give you visual cues along the way.

Bitcoin Price Charts: The Basics

The first thing you will want to know about Bitcoin, or any other cryptocurrency is the price. These charts are relatively easy to follow once you understand what you’re looking at.

The graph above shows a single price spread for Bitcoin to USD. The horizontal top axis allows you to choose a time frame to look at. We chose to show the price variations over the course of an hour. Price intervals according to that time frame will appear on the bottom horizontal bar.

On the right-hand vertical axis, you will see a number highlighted in red at $3,477. This is the current price of a single Bitcoin in US dollars. The left-hand vertical axis shows the price variation.

You will notice that the chart is made up of red and green bars. These are known as candlesticks. Green indicates an increase in price with red showing a decrease in price. The longer the candlestick – the greater the increase/decrease. Smaller candlesticks of any colour show only minor fluctuations.

The above diagram shows the candlesticks more clearly.

Bitcoin Charts: Busting the Jargon

There are terms that you might not have come across before, when you were looking at information about charts. When you look at these terms, you will notice that there are a lot of words that you might not understand. To solve this, we have compiled a simple glossary of chart terminology for your convenience:

Bullish Trend – This term describes a significant increase in the price of a coin. Often bullish trends are breakouts from previous drops and can indicate substantial price increases in the cryptocurrency trading sphere.

Bearish Trend – This is the opposite of a bullish trend and denotes a significant decrease in a currency’s price. Again, these drops can be quite dramatic.

Low – The low denotes the lowest trading point (price) for the currency within the specified time frame.

High – The high denotes the highest trading point (price) for the currency within the specified time frame.

Open – The open denotes the price of the currency at the opening time of trading or the beginning of the specified time frame.

Close – The close indicates the final price of the currency at the end of trading or the end of the specified time frame.

Other Things to Look for On Your Bitcoin Graph

As you become more adept at reading the graphs you will notice other important information that will prove invaluable as you become a more proficient trader. Hovering over a chart for instance, will show you something called trading volume. This is the amount of trading activity that occurred or is occurring at a specific point in time.

This is useful because you will be able to see when large amounts of currency are sold, which might indicate that the price of an asset might be heading further down. Volumes are a good way of feeling out the market. If you notice low trade volumes but the currency is rising, it is an indication that traders expect the currency to rise further and are holding.

Percentages

You don’t need to be a math wizard to understand the percentages on graphs for Bitcoin or other cryptocurrencies. These mainly demonstrate the fluctuations in price. In simple terms, the rate a currency has increased or decreased by in terms of price.

Some Exchanges Simplify Everything for You

Although these pointers are the same across the market, you will notice that different exchanges show cryptocurrency prices in a variety of ways. The likes of Coinbase, CEX.IO, and Coinmama are particularly good because they have a very simple and user-friendly interface. To trade on these platforms, you wouldn’t need to use in-depth candlestick charts, as buy/sell prices are always displayed clearly. They have pre-defined offers, and it is simple to see how much it will cost to buy an amount of Bitcoin. These are collectively known as buy prices.

You will notice, however, that the cost of buying is higher than the cost of selling at any point in time. This difference is known as the spread and helps exchanges or brokerages facilitate deals by covering costs associated with trading. It is the same set-up as if you were trading shares on a stock exchange.

Simple Price Charts

There are other resources you can use to figure out the price of any given crypto asset. To round off our guide, we will discuss the most commonly used price charts for cryptocurrency across the web. These are very straight forward and show the price of a currency over a defined time frame with a line that often resembles a mountain landscape.

As you can see from this historical graph, the vertical axis has price levels and the horizontal axis has time values (in this case month and year). The line in the graph itself is simply tracking the movement of the price of Bitcoin over time to form one continuous line.

Now You Know How to Read Bitcoin Price Charts

And that is it! These are all the basic pointers you should know to read various types of cryptocurrency price charts, along with the terms you will encounter on various platforms. Remember to keep track of trading volumes and see where you can find opportunities in the market.

*The views expressed in this article belong to the author. Bitcoin Chaser does not endorse the contents of this article. The reader bears all the responsibility for any actions he or she takes based on the information presented in this article.

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Bitcoin vs Bitcoin Cash

The Bitcoin network was not designed to handle a high volume of transactions. As this cryptocurrency became more popular, these constraints became more apparent. To solve this, Pieter Wuille came up with a solution called Segregated Witness – SegWit. This solution was voted in as an upgrade through a soft fork, but some miners and other people with mining interests were not happy with the solution – namely Roger Ver and Jihan Wu. These people were advocating for bigger blocks to get more transactions per block. SegWit takes the signature out of the block, freeing space in the current small block for more transactions, which big block proponents didn’t like.

Bitcoin Cash is Born

On August 1st, 2017, the soft fork that brought the SegWit updated took place. Along side that fork, big block proponents opted for a hard fork split from Bitcoin’s chain, creating Bitcoin Cash – BCH. On the surface this solved one of the most painful debates in the history of Bitcoin, but then came the struggle for Bitcoin’s name.

Bitcoin Cash proponents like Roger Ver, started calling Bitcoin Cash “the real Bitcoin.” If the community thought that with SegWit and the Bitcoin Cash hard fork they could look ahead to a period of peace, they were wrong. The battle for Bitcoin’s name – as ridiculous as it might sound – threatened to confuse users, especially newcomers.

The Problem with Bitcoin’s Name

Bitcoin is not just another name to fight over, especially given that Bitcoin Cash did not change the format of its addresses when it forked from Bitcoin. A BCH address looks exactly like a legacy BTC address, which means that if people promote BCH as “the real Bitcoin,” they put users – especially new users – at risk of sending BTC to a BCH address or vice versa. If this happens, those coins will be lost forever.

Beyond Clarity

Bitcoin Cash even promoted a logo that looks just like the Bitcoin logo, and through Bitcoin.com – a website owned by Roger Ver – Bitcoin Cash found an outlet that would promote it as “the real Bitcoin” under a URL that looks like it is an official Bitcoin outlet. Therefore, users must understand the difference and pay attention to the addresses they send funds to. It is important to confirm with the party that is supposed to receive the funds, whether it is a BTC or a BCH address, although there is no doubt whatsoever that BTC is the only Bitcoin out there.

Other than that, people can choose the kind of currency that suits them best. If they like the idea of big blocks – although there have been various concerns about centralization on the Bitcoin Cash chain – they can use BCH. If they support small blocks, then they can use Bitcoin.

Settling the Bitcoin vs Bitcoin Cash Argument

Whichever cryptocurrency people decide to use, the Bitcoin vs Bitcoin Cash argument has been settled, despite any attempt from BCH supporters to portray the currency they support as “the real Bitcoin.” Big blocks do not belong in the Bitcoin network; anyone who wants them can flip their coins to BCH through an exchange, keeping in mind the issue with the public addresses. Only the market will decide if there is enough space for Bitcoin and for Bitcoin Cash, or if the future of one of them will come at the expense of the other.

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Decentraland Partnership with HTC Resulted in a 60% Price Increase

It’s become evident in modern finance that strategic partnerships can be incredibly successful. The high-profile partnership with HTC, resulted in Decentraland (MANA)’s price surge of 60%.

We're excited to announce our new partnership with HTC! We'll be working with HTC to bring the Decentraland ecosystem to the Exodus 1, HTC's blockchain enabled phone, complete with an integrated hardware wallet. Read more on our blog at: https://t.co/a5g8FhEhry pic.twitter.com/JE6vijVSBC

— Decentraland (@decentraland) February 26, 2019

The VR-focused digital asset’s price rose from $0.0363 to $0.0581 against the USD in a matter of minutes. This development occurred shortly after the partnership between the Taiwan-based phone manufacturer and the digital asset became official.

This large price increase comes less than 24 hours after Enjin coin recorded a 200% increase against Bitcoin. This monumental rise was accredited to the listing of the asset on the Samsung Blockchain Wallet. Enjin coin is a crypto asset on the gaming blockchain network named Enjin.

Decentraland making news

On February 26th, the partnership between the HTC Exodus 1 and Decentraland made news. The Exodus 1 is the world’s first blockchain phone and it was launched in the end of 2018. The phone featured a private blockchain vault called the Zion Vault. With this embedded feature, users can securely hold crypto assets.

As Coinstaker reported earlier, there were rumors of the new Galaxy S10 having an integrated crypto private key storage into the new Samsung Blockchain Wallet. This feature was rumored to provide users with a native access to cryptocurrencies.

Both giants are said to have integrated unique crypto assets over major, established cryptocurrencies like EOS, Ripple, Tron, etc. This is mainly attributed to their belief that the potential of blockchain tech far exceeds the realm of payments.

In the official blockchain tutorial of Samsung, the company emphasized on the many uses blockchain can be used for: gaming, e-commerce, insurance, etc.

“With blockchain, every user can store and process data in a decentralized ecosystem which is used in many areas. Those areas include, but are not limited to: secure information distribution, insurance and contract verification, copyrights management, game items storage, digital asset storage and digital asset transactions.”

The team from Decentraland spoke highly about the new partnership:

“Both companies are very commited to redefine the way people manage their identities, privacy, crypto and other digital possesions.”

The Exodus 1 stores private keys directly on its hardware and thus allows users to secure their Decentraland IDs, data and assets. This process entirely removes the middleman. The Decentraland LAND and MANA will both be supported on by the Zion Vault.

Even though, most cryptocurrencies suffered losses between 95% to 99%, Decentraland has most “only” 81% of its all-time high. Bitcoin for instance has lost 80% since its all-time high. This still makes Decentraland one of the top 10 best performing crypto assets during the prolonged bear market.

You can also check out:

Universal Income: The Positives and Negatives from Finland

QuadrigaCX: A Tragedy Worth $150 Million in Cryptocurrencies

Raptor Rocket Engine: SpaceX and the Road to Mars

Tesla is Attacking the Biggest Auto Market in the World – China

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New VIP Improvements Makes BitStarz the New Mecca for Highrollers

Having a bunch of big winners in the casino is cool and all, and BitStarz has never had so many of them from separate players as in the past few weeks.

But let’s face facts. Any casino can be lucky enough to have a big winner, and after all, casino is mostly about luck. As we cannot pull a magic lever to ensure players win, our resources and time are put into various areas where improvements actually can be made, all in order to enhance the VIP experience.

It’s All About the VIP Treatment

In the past weeks, BitStarz has done major changes to the casino in order to create the perfect environment for the biggest of players, and the amendments are really attracting some major ones. We’ve removed the max cashout limit, which means the players can withdraw all their winnings immediately, and thanks to our 10-minute average cashout time, they’re getting all their winnings with lightning speed.

They’re also assigned a Senior VIP Manager with over 10+ years experience in the industry, available 24/7 via phone, email and whatsapp. Someone that doesn’t just know the industry inside and out, but who’s also a great guy to be around.

On top of that. Tailored reward plans based on multiple variables and increased bet limits on both slots and table games are also reasons why high rollers from around the world flock to BitStarz.

Major Wins, Cashed Out Immediately

To give one example of some recent big wins, one of the VIPs landed a 62.4 BTC win in a single spin on Fire Lightning, and went on to win 45.84 BTC on Platinum Lightning Deluxe and then 69.19 BTC on Brave Viking. If you add all this together, that’s over $730,000, and how long did it take for him to receive the money from the time he requested a cashout later? 5 minutes.

The cornerstone of BitStarz Casino is fairness and integrity, and if you’ve won money in the casino, you should be able to get all your winnings out immediately. No stalling, no restrictions per week or month, no complications. This and the reasons above sends a clear message – if you’re looking for a fair casino and a true VIP experience, look no further than BitStarz.

Offering What Players Actually Care About

Srdjan Kapor – BitStarz Marketing Manager – commented:

“As many of us are players, it was a simple matter of just putting ourselves in their shoes and asking what we care about the most when we play. As a result, these major changes were put into place, and it’s extremely clear that this has been very widely appreciated among the VIPs!”

www.bitstarz.eu

For more information on BitStarz and our action-packed casino platform, please contact Srdjan Kapor at [email protected].

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Julius Baer to Allow Clients Access to Cryptocurrencies

Julius Baer is one of the biggest private banks in Switzerland. The company announced yesterday that its clients now have access to cryptocurrencies.

Julius Baer is pleased to announce the collaboration with SEBA Crypto AG to provide its clients with access to a range of new digital asset services. https://t.co/5ADODyL58s @WeAreSEBA

— Julius Baer (@juliusbaer) February 26, 2019

This progressive move was done thanks to the strategic partnership with SEBA Crypto AG (SEBA). SEBA is a crypto focused bank and managed to raise over $103 million in September 2018.

The move is not all that surprising considering global acceptance is rising. Recently, many of the largest global financial institutions like Nasdaq, ICE and Fidelity have begun to support crypto.

Julius Baer joining the crypto market will rapidly intensify the growth and acceptance of crypto assets. According to the official statement, the company will use SEBA’s innovative platform. Julius Baer’s clients will be given access to cryptocurrencies and additional measures are undertaken to make sure the company can meet the rapidly growing demand for digital assets.

Julius Baer is forging long-lasting partnerships

With all details of the partnership finalized, both companies are now waiting to be granted the FINMA banking and securities dealer license. If everything goes without unexpected developments, the license will be acquired shortly.

The head of Markets at Julius Baer, Peter Gerlach stated:

“In our company, we are convinced that in the future, digital assets will be a key component in every investor’s portfolio. Our investment into SEBA combined with our exceptional partnership are proof of Julius Baer’s determination. We are engaging the area of digital assets and we intent to share the benefits of this innovation with our clients.”

The CEO of SEBA, Guido Buehler was also very pleased with the developments. He stated that this deal will undoubtedly strengthen the partnership between the two companies:

“We are very pleased and proud to have Julius Baer as an investor. Here at SEBA, we will do our best do enable a safe, easy and reliable access to the crypto world within a fully regulated environment. This cooperation will create much opportunities for mutual benefit for the companies and the clients.”

Many investors were very interested in the launch of SEBA back in September. This was precisely because of the rumors that Julius Baer and other high-profile individuals of the Swiss banking sector would be involved. The deal with Julius Baer is expected to increase SEBA’s contracts with financial institutions.

When it comes to crypto, Switzerland has always been ahead of the curve together with Japan, South Korea, Malta and Singapore.

This integration of crypto services will further legitimize this unique asset class to both current crypto investors and investors from the traditional financial sector.

You can also check out:

Universal Income: The Positives and Negatives from Finland

Gaming Investments Growing at an Astounding Rate

Move Capital Out of China: Gems Used to Evade Capital Controls

Derivates Market: Huobi Derivates Market Passed $21 Billion in Trades

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Coinbase Pro is adding Ripple (XRP) support for trading

Coinbase Pro, the US-based Cryptocurrency trading and wallet platform of Coinbase will finally add support for Ripple token – the XRP. Coinbase is one of the biggest Digital Currency exchanges in the world, a Cryptocurrency wallet service and the leading Crypto exchange in North America and Europe. The news was announced in the official Coinbase blog post on 25th of February.

Coinbase Pro will add the following trading pairs: XRP/EUR, XRP/USD and XRP/BTC. These trading pairs are already available for Coinbase Crypto traders, with the possibility for the XRP/ETH trading pair to be added. Coinbase Pro is accepting XRP deposits, with a 12 hours delay before trading is enabled. It’s important for Coinbase and Coinbase Pro to establish enough Ripple liquidity on the platform, so everything can go as smooth as possible.

Coinbase Pro is adding Ripple XRP trading

As of writing this article, XRP is trading for around $0.32 per XRP, but when the news broke out Ripple increased in price by more than 10%. Ripple trading in Coinbase Pro will be available in Canada, the European Union, Singapore, Australia, the United Kingdom and the United States. Coinbase and Coinbase Pro are planning to expand their Ripple trading to other countries too, but at a later time.

Ripple trading in Coinbase Pro will go forward in four stages. The first stage is a transfer-only phase, then a post-only, a limit-only and then the full trading experience. The four stages are important, because the first two will enable users to transfer their Ripple tokens to their Coinbase Pro wallets and make limit orders. The other two will allow Coinbase Pro traders to experience the full trading experience and also to ensure the XRP liquidity on Coinbase.

The Ripple addition to Coinbase Pro has long been speculated and awaited by the Cryptocurrency community. There were rumors in January that Ripple will be added to Coinbase, but the CEO of Coinbase Brian Armstrong denied the rumors. The effects of this announcement was felt back then, because Ripple lost more than 15% of its evaluation following the announcement. Ripple’s market capitalization fell from $147 billion to around $126 billion.

Over the past months, Coinbase Pro has been actively expanding its Cryptocurrency portfolio supported on the platform. In August of 2018, Coinbase Pro added support for Ethereum Classic (ETC) and the Basic Attention Token (BAT). Coinbase Pro also added in November the privacy-based token Zcash (ZEC), with plans for other altcoins to be added soon.

Read more:

Top ICOs of 2018: Initial Coin Offerings that beat the Crypto bear market

Ethereum hard forks Constantinople and St. Petersburg scheduled by the end of this week

Ethereum founder and CEO, Vitalik Buterin revealed his non-Ether holdings and revenue sources

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What is Cryptocurrency?

A cryptocurrency refers to a decentralized payment system that allows people to send currency over the web without the necessity for a trusted third party. These transactions are always cheap and free in most cases. It is considered to be virtual or digital and has its security enhanced through the use of cryptography. This security feature makes the currency difficult to counterfeit. It is not issued by a central authority. It is therefore immune to government manipulation or interference. Nowadays there are thousands of cryptocurrencies functioning.

Bitcoin was the first such currency to capture the public imagination and was launched in 2009. Bitcoin’s success brought about the cryptocurrency boom we now see today. Other similar and at times competing currencies such as Litecoin, Ether and Monero offer different advantages to their users. These projects built upon the principles of cryptocurrency, and morphed into highly sophisticated tools that serve as more than just a means of exchange.

Total Decentralization

Total decentralization is the main feature of most cryptocurrencies. As a result, there is no specified central point of authority. This is possible since everyone taking part in the transaction has a full copy of the required transactions. This creates a resilient network that cannot be changed or reversed by any policy in the transaction. Governments and banks are now trying to incorporate the technology, effectively aiming to create loosely centralized cryptocurrencies for their own purposes.

High Level of Anonymity

All Bitcoin transactions can be traced. It is one of the features of the blockchain, although tracing these transactions might be impractical in many cases. Bitcoin offers its users a degree of pseudonymity, which serves to protect the identities of the people who make transactions over its blockchain. Some newer cryptocurrencies have various mechanisms to afford their users complete anonymity. These new systems could be exploited by criminals since it involves borderless, anonymous transactions. It is difficult to report and trace criminal activities within such cryptocurrencies. Bitcoin is now widely monitored by law enforcement, making it an unlikely tool for criminal use.

Fund Transfer

Cryptocurrencies have made the transfer of funds between different parties much easier and faster. The transfers are facilitated through the use of private and public keys that enhance security. Fund transfers using cryptocurrencies involve minimal processing fees. As a result, users can avoid the steep fees that most financial institutions and banks charge for wire transfers. Regardless of its benefit to the user, this form of fund transfers has a major drawback. It is virtual and does not have a central repository. Therefore, the digital cryptocurrency balance of the user can be easily wiped out whenever the computer crashes. This is why the users need to have a back-up copy of all the transactions they take part in. Additionally, the prices of cryptocurrency rely on demand and supply. Therefore, the rate at which they can be exchanged with another currency can fluctuate widely.

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Restore Trust in Crypto Institutions and Law Enforcement

Governments and crypto institutions don’t get along most of the time. Due to the nature of both systems in a perfect world, they will never need each other. Bitfinex managed to restore trust as the US law enforcement aided in the recovery of 27.66270285 bitcoins.

The bitcoins received by the government were only a piece of the stolen funds back in 2016. After the security breach was found out, Bitfinex asked many enforcement agencies for help.

They launched a global investigation to track the 119 756 BTC which were stolen from the exchange. Amazingly enough, the reality seems to match a Hollywood movie as the government agencies actually did their job.

It gives us great pleasure to report we have received bitcoins from the U.S. government that were proceeds of the 2016 security breach. In line with our original recovery plan, this is being converted to USD and paid to RRT holders.

Find out more here – https://t.co/UwCMNERes9

— Bitfinex (@bitfinex) February 25, 2019

Because of the huge number of bitcoins which were stolen, Bitfinex immediately generalized the losses from every account and credited a token pegged to the US dollar. The token was dubbed BFX and was used to pay for the damage each customer suffered.

Bitfinex presented its customers with two very simple and reliable options. They could either redeem the tokens for cash or exchange them for shares of iFInex Inc. Most people chose to cash out immediately, while a seemingly small percentage chose to get the shares of the company which operates Bitfinex.

The process was long and all the BFX tokens were destroyed in the process. Those who chose to gain shares of iFinex, were given Recovery Right Tokens (RRT). These RRT tokens represent every single individual’s respective amount in iFinex’s shares.

To restore trust in crypto institutions after the last few years will be challenge

Bitfinex was noticed by United States authorities about the retrieved funds a few months ago. The exchange is now working on converting the 27.7 BTC in USD and will distribute them accordingly across the RRT holders.

Bitfinex’s CFO Giancarlo Devasini, praised the United States government and reached out to anyone willing to listen:

“We will keep assisting law enforcement with their inquiries. Additionally, we still give an open invitation to the attackers or anyone who possesses information about the security breach. Make contact in whichever medium you feel comfortable with and help us to finally resolve the situation in a mutually beneficial manner.”

Attacks on crypto exchanges and security breaches in general have been the main reason for low crypto confidence. A decade has passed after bitcoin launched and issues like these are still frequent. Of course, the recovered BTC represents only 0.023% of the total losses but it’s a small step in the right direction. There needs to be many more in order to restore trust in crypto institutions.

Attackers usually are one step ahead of the law when it comes to exploiting the vulnerabilities of centralized institutions. For now, decentralized exchanges like Binance are using cold wallets as a way to mitigate hacking potential but this will not solve the problem in the long run. All crypto trades must have 24/7 access to their funds, which means storing in an exchange is essential.

Improved security will open the doors of mass adoption. When cryptocurrencies inevitably go mainstream, issues like this must be a thing of the past. To restore trust further, all eyes are on the governments.

You can also check out:

Security Breach at Coinmama: What can we Learn

BNB: How did this Cryptocurrency Rise During the Bear Market

Cannabis Stocks are Great Investments Because of the $867 Billion Farm Bill

Oil Industry: Adapting to Change and Growing Against the Odds

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Top ICOs of 2018: Initial Coin Offerings that beat the Crypto Bear’s market

When we think about the peak of Cryptocurrencies, we think of 2017. 2017 was definitely the most successful and gave cryptocurrencies worldwide fame. Initial Coin Offerings (ICOs) turned from whispers of the dusty corners of the Internet, to an incredible investment opportunity for both individuals and companies alike. In this article we will take a look at the top ICOs of 2018, but the whole topic is somewhat subjective, because of the turbulent nature of Crypto prices.

Even though cryptocurrencies had their most successful year to date in 2017 with a total of 7 ICOs in Q1. The total amount of funds raised totaled $28 million. Q2 of 2017 saw a huge increase and the number of launched ICOs almost quadrupled. A total of 25 ICOs were launched in the second quarter and the total amount of funds raised totaled $680 million.

So far so good, Q3 saw a double increase in the number of launches. The ICOs increased in market value with the incredible rise in price and the total funds raised went above $1 billion. Q4 didn’t disappoint either and by the end of the year, the total funds raised by ICOs for 2017 totaled $4.9 billion.

By the end of the year, cryptocurrencies were without a doubt, on the world financial map. Banks, governments, companies and individual investors of all shapes and sizes were all eyeing this hot, new opportunity. Unfortunately, a big part of the projects linked to many of those ICOs are either non-existent or have little to no impact today.

So it’s natural that the best year for cryptocurrencies became the best year for ICOs. For many people and companies, the return of investment is the biggest measure of a success in a project. That’s why when we talk about the top ICOs of 2018, we will look at them with a grain of salt.

Statistics about the top ICOs of 2018

The biggest factor for the subjectivity of the topic is how Crypto prices are measured. Most of the top ICOs are issued on the Ethereum network as ERC-20 tokens. This means that most of them can be traded in Ethereum, and some can be traded with Bitcoin too. So when we look at the prices of these tokens in fiat currency, this figure is calculated by the token’s Ether or Bitcoin price converted to fiat.

In 2018, Ethereum and Bitcoin lost 80% or more of their total valuation so when we calculate these tokens Ether and Bitcoin price in fiat we can see that across the board almost all ICOs lost value. In this article we will look at some statistics about these top ICOs and we will conclude why they are considered successful.

The timing of when you sell these tokens is one of the most important factors for a successful Crypto investment. Buy at the lows and sell at the peak, that’s what matters. Unfortunately, 2018 was a “disaster” for ICOs and most of them plummeted in fiat currency prices so selling at the peak was extremely important for 2018’ top ICOs.

Top ICOs in 2018 by amount of capital raised:

EOS – $4.1 billion

Telegram – $1.7 billion

Petro – $735 million

Dragon Coin – $320 million

Bankera – $151 million

EOS is a scalable smart contract platform and Ethereum’s biggest rival. EOS is and open-source developers’ community and in many ways it’s superior to Ethereum and inferior in other. EOS and the company Block.one broke all records for Initial Coin Offering raised capital. They collected $4.1 billion, bypassing the last record holder Telegram by 300%.

Telegram was holding the record, raising in 2018 $1.7 billion and shocking the whole Crypto community. Telegram is a messaging giant and they released in 2018 their native token which will be used in the Telegram network. The 3rd spot goes to Petro, the Venezuelan Petrol-backed national Cryptocurrency.

Venezuela issued their native Digital Currency – the Petro and raised $735 million. I’m not going to go deep on the Venezuelan Petro, because we’ve wrote a lot of articles about it. If you are interested, you can find our Petro articles and a Petro Guide.

Top ICOs for 2018 by Return of Investment (ROI) from ICO price:

Smartlands – 600% ROI

Digitex – 530% ROI

Zilliqa – 385% ROI

ODEM – 200% ROI

EOS – 128% ROI

The truth is that more than 50% of all ICOs fail to raise money, but in 2018 many ICOs managed to raise significant amounts of capital from investors. 2018 was a 365 day bear market for Cryptocurrencies and the whole Cryptocurrency market lost a lot of its market capitalization. But despite the bear market, some ICOs managed a good return of investment, calculated from the tokens’ ICO price. The top ICOs by Return of Investment were Smartlands, Digitex, Zilliqa, ODEM and EOS.

EOS was hyped from a long time, because of the open-source community of developers of Decentralized Applications (dApps). EOS raised the most money and brought a reasonable Return of Investment by the end of 2018 of 128%.

ODEM is an Ethereum-based platform designed to help students and corporate buyers of education and knowledge. ODEM helps them engage with top academics to create quality on-site educational experiences at a far reasonable cost than competitors. The ROI generated by ODEM is 200% by the end of 2018, taking the number 4 spot.

Zilliqa is a decentralized platform for application hosting. The platform uses sharding and managed to generate a 385% Return of Investment for its investors. Digitex takes the number two spot for top ICOs with a Return of Investmnet of 530%. Digitex is a fee-less futures exchange for digital asset trading.

The number one spot for top ICOs of 2018 goes to Smartlands. Smartlands is an international platform for security tokens. Smartlands generated ROI of 600% by the end of 2018, toping our chart for top ICOs.

Read more:

Top 5 of the worst ICOs of 2018

Why are Initial Exchange Offerings not as popular as Initial Coin Offerings

More than 50% of all Initial Coin Offerings fail to raise money

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lewisgabriel84z31 · 5 years

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HYBSE, GMEX and MINDEX collaborate to list the world’s first Multi-Asset Stable Token in Mauritius.

Asset backed by ownership in the founding companies and stable assets primarily Gold

Mauritius, London 21 February 2019.

Following the recent joint venture launch in Mauritius between three visionary companies in October 2018, newly created HYBSE Marketplace Limited (HM) brings to centre stage a worlds first digital multi-asset stable token “MAST”.

With fast growing global interest in collateralised tokens leads to the advent of new regulations in Mauritius to enable digital marketplaces and digital custodians, HM is providing investors, interested in developing a portfolio of digital assets, access to primary listed and secondary tradable asset backed tokens that will support this innovative trading ecosystem grow.

The first instrument to be issued will be the MAST products, full multi-asset backed tokens which will provide investors with a diversity of managed risk, as each asset class is underpinned by an integrated framework of strategic portfolios. Initially, MAST will be composed of ownership interest in the founding companies; HM, GMEX, MINDEX, fully gold backed DIM Currencies and stable gold coins. Three different categories of the MAST packages have been designed and enable investors to adapt their portfolio according to individual risk appetite.

HYBSE Marketplace incorporates the latest technological advancements for the financial sector with three core elements; Security with GMEX market surveillance adaptors, provides access for total regulatory oversight for a secure trading environment; Decentralisation through public ledger provides transparent and secure methods of transacting digital assets across the platform; Scalability on the Catapult Engine allows for modular design and high-frequency trade volumes.

Hirander Misra, Chairman of HYBSE Marketplace, GMEX and MINDEX, says “With the GMEX Market Advancement Programme (MAP) we are keen to find ways to work with partners to bring innovative solutions to the market. Asset Tokens, which are fully backed, brought to the market on a regulated exchange and stored in a regulated digital custodian bring a level of regulation and oversight not previously available for institutional investor needs.”

“We are delighted to be launching MAST on the HYBSE Marketplace in Mauritius, as we strongly support the enabling regulatory framework which is being established in the country for digital marketplaces and digital custodians. We are convinced that this new framework will put Mauritius firmly on the global map as the natural home for innovative technologies in the digital assets space,” he added.

The official MAST ATO will commence on Thursday 21 February 2019. Secondary trading is expected to begin on the HYBSE on Q2 2019. The ATO will be available for investment by sophisticated and expert investors.

Accredited participants who are interested in obtaining a stake in this revolution, can follow the link provided; www.mast.eco.

A detailed and comprehensive breakdown of the above can be found within the MAST Blueprint, found on the MAST website.

— end—-

HYBSE Marketplace: Public Relations Contacts:

Mauritius

Samantha Seewoosurrun

(+230) 5772 4400

[email protected]

United Kingdom

Melanie Budden

+44 (0)7974 937 970

[email protected]

Digital

Uroš Trajković

+27 (0) 87 701 0914

[email protected]

Disclaimer

Mauritius as a jurisdiction recognizes Digital Assets as an asset class for investment by Sophisticated and Expert investors. We strongly recommend investors to seek out independent financial and legal advice before engaging in any sought of business endeavour. Investors should fully ascertain the risks prior to committing any funds for investments.

Announcement to all investors: Regulatory Duties

It is the responsibility of investors that want to purchase or hold the tokens described in this offering to research and inform themselves on all applicable laws and regulations of any relevant jurisdiction. This includes tax consequences with respect to purchasing, holding or selling these Multi Asset Stable Tokens (MAST) Tokens. Our company is not offering any legal, financial or business advice. In case of any doubts or questions, Please contact us.

Investors must comply with all laws and regulations concerning know-your-customer, Anti-Money Laundering and Anti- Terrorism financing that may apply to them. Investors must obtain any permissions, approvals or licenses needed in order to purchase, hold or sell any MAST tokens under the laws and regulations to which they are subject or in each jurisdiction in which they may purchase, hold or sell MAST Tokens. We never sell to sanctioned countries.

About MINDEX

The MINDEX ecosystem comprises of:

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lewisgabriel84z31 · 5 years

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Ethereum hard forks Constantinople and St. Petersburg scheduled by the end of the week

The long awaited Ethereum hard fork – Constantinople will finally come to be by the end of this week. The good news is that another long awaited network improvement – the St. Petersburg hard fork is also scheduled on the same date. The information was revealed by an official Ethereum blog post from last Friday.

Ethereum developers have chosen the 7,280,000th Ethereum block for the updates to happen. It is expected that the 7,280,000th block will be mined around February 28th. Both hard forks are unique by their nature and an original concept, but they will be combined into one single event. The Constantinople hard fork was delayed multiple times, because Ethereum developers wanted everything to go smoothly and to prevent possible security issues.

Both hard forks will improve the Ethereum network’s overall efficiency, they will delay Ethereum’s difficulty bomb, decrease Ethereum’s mining rewards and more. I recently wrote about Ethereum mining rewards. Etherscan released data showed that mining rewards are at their lowest level since the beginning.

Ethereum is preparing to upgrade

Developers implemented the Ethereum difficulty bomb as a mechanism to the consensus algorithm meant to prevent miners from mining the network after its transition from Proof-of-Work (PoW) to Proof-of-Stake. The implementation of Proof-of-Stake (PoS) however was delayed multiple times so Ethereum developers decided to delay the difficulty bomb so they don’t freeze the entire network, before the PoS transition.

The Constantinople hard fork is delaying the difficulty bomb for 12 months, but to compensate this they are implementing a reduction the mining rewards from 3 ETH to 2 ETH per block. Another function that will be implemented is the Create2 function, which was rumored to introduce attack vectors to Ethereum, but Ethereum CEO Vitalik Buterin dismissed these rumors.

St. Petersburg will delete and overwrite a previous Ethereum update – the Ethereum Improvement Proposal 1283 from the test networks. Nearly all big exchanges confirmed their support for the hard forks. The latest exchanges to join the list were Kraken and Coinbase, joining Binance, OKEx and Huobi.

Ethereum has experienced an increase in trading volume lately, as you can see in the graph above. Ethereum price also increased from $103 to $165 recently, but conceding to the latest pump and dump. Still Ethereum is in a great spot at the moment, with most experts saying that the next big Crypto bull run will be remembered.

Read more:

Ethereum founder and CEO, Vitalik Buterin revealed his non-Ethereum holdings and revenue

Ethereum Mining rewards down to their lowest level since the beginning

Elon Musk: Bitcoin’s structure is quite brilliant and a better way to store value than paper money

NEO founder speaks about the best Blockchains and Digital Currencies for 2020

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lewisgabriel84z31 · 5 years

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Number One Blockchain by 2020: NEO’s Founder Speaks Boldly

Last weekend, NEO held their DevCon conference in Seattle. The event was very informative to everyone who are interested in NEO: developers, dApp developers, enthusiasts and even skeptics. NEO’s future and current issues were discussed freely. Da Hongfei, the founder of NEO made the very bold prediction that NEO will be the number one blockchain in less than two years.

Hongfei was pleasantly surprised by the amount of people who were present at the event. He went on to the stage under thunderous applause and admitted that he did not expect such a large turnout. That is only natural since like most cryptocurrencies, NEO took heavy losses due to the prolonged bear market. The token’s price fell sharply after the all-time high at the beginning of 2018. NEO tokens were priced at $161 and fell to $9.

Hongfei spoke a bit about NEO’s background. He talked about the time it was known as AntShares when he and Erik Zhang founded the project. He also expressed his gratitude to the Chinese blockchain community and and explained how instrumental they were in building the project up.

Later, Hongfei went on to discuss the future of NEO and the upcoming NEO 3.0 upgrade. He took a brief pause when he mentioned that he plans for NEO to become the number one blockchain by 2020. It’s not the first time he makes bold statements like these. A little over a year ago, he promised TPS speeds of 100 000 without sharding. The promise was made for the same time frame of 2020.

Hongfei knows full well that 2020 is just a year away and this time he seems intent to keep his promise. He stated:

“It really depends on how people define 2020. Some look at the beginning, others look at the end. Time is ticking so how can we achieve what we promised? How can we become the number one blockchain? Are we supposed to become the biggest or the fastest? I believe that we need to become the most favorable platform because we provide the best performance, diversified ecosystem and solutions.”

Becoming the number one blockchain will be no easy feat

In order to become the number one blockchain, NEO must look towards enabling large-scale commercial applications. A few of the proposed new features of NEO 3.0 include native contracts which can be executed without the use of the NEO VM. That being said, there is no real guarantee when the upgrade will be available and if the proposed solutions will be featured.

Even though Hongfei has set the 2020 deadline, that doesn’t mean plans won’t change according to the economy. With the global worries about a recession, there’s no telling how much an event like this can delay plans. Hongfei is absolutely certain that this type of Smart economy will be the future, but there’s no way to say for certain when it will arrive.

Hogfei is also not worried about China’s overal negative stance on cryptocurrencies. He has stated multiple times that Chinese residents are very aware of the possibilities of emerging technologies. He stated:

“I honestly believe that most of China, including the government and regulators are very open to new ideas. These ideas however, must prove to be in the best interest of the country and its people.”

Whether or not NEO can become the number one blockchain in the world remains to be seen. Most experts tend to have very negative views on the so called “Chinese Ethereum”, but Hongfei might still hold surprises in the future and prove people wrong.

You can also check out:

Crypto Bandwagon: This is Only the Beginning of the Beginning

Chinese New Year: Will it Mark a New Bull Run for Cryptocurrencies

Full Crypto: Now is Not the Optimal Time According to Musk

BBVA Freezes 500 Chinese Clients Accounts Without Warning

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lewisgabriel84z31 · 5 years

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Elon Musk: Bitcoin’s structure is quite brilliant and a better way to transfer value

The founder of PayPal and CEO of Tesla, SpaceX and SolarCity Elon Musk spoke recently about Cryptocurrencies. As always, the opinion of Elon Musk on every single topic is quite interesting. Elon Musk spoke recenty in an interview on the ARK Invest podcast on February 19th and referred to Bitcoin as a quite brilliant structure.

According to him, Digital Currencies are a far better and convenient way to transfer value than pieces of paper. He believes that Digital Currencies and Blockchain technology have a brilliant structure that needs more development, but on the downside Bitcoin is very CPU and Energy expensive and intensive. He stated:

“The Bitcoin structure is quite brilliant… one of the downsides of most Cryptocurrencies is that computationally they are quite energy intensive. So there have to be some kind of constraints on the creation of Digital Currencies. But it’s very energy expensive to create the incremental Bitcoin at this moment.”

Elon Musk

Elon Musk also added that it wound’t be of Tesla’s interest to involve resources in involving themselves in Crypto and continue to accelerate the advance of sustainable energy. He added:

“Digital Currencies bypass currency controls, which will be fixed in the future. Paper money are going away and Crypto is a far better way to store and transfer value than just pieces of paper, that’s for sure.”

On his own Crypto holdings, Elon Musk tweeted recently that he only owns 0.25 BTC. They were given to him by a friend, but other than that he owns zero Digital Currencies. The Tech community is mostly favorable on the Crypto topic. Twitter CEO Jack Dorsey said earlier this month:

“Bitcoin feels it’s the one that wants to be currency the most, versus others that are doing more general purpose things or distributed computing… I think altcoins have generated some really amazing ideas, but I’m focused on currency and the transactional aspect.”

Bitcoin occupies a special place as a store of value for the whole Digital Currency community. Bitcoin acts as digital gold and it will further cement its spot. Mike Novogratz has recently stated:

“Bitcoin is going to be the digital gold, a place where you have sovereign money, it’s not U.S. money, it’s not Chinese money, it’s sovereign. Sovereignty costs a lot, it should!”

Read more:

Bitcoin transaction fees reached their lowest level since 2015

Crypto whales active address holdings increased four times in 2018

Ethereum mining rewards down to their lowest level since the beginning

Ripple offered millions of dollars in XRP to attract the best Tech talent on the market

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lewisgabriel84z31 · 5 years

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Crypto Mining Equipment Is Currently No Longer Profitable

Bitmain has recorded the stunning loss of 500 million in Q3 of 2018. The largest maker of crypto mining equipment in the world, did not have the most profitable year. Even though, Bitmain managed to generate revenues of more than $3 billion during Q1-Q3, Q3 was responsible for only $200 million.

This is undeniable proof that the bear market has drastically lowered the demand for crypto mining equipment. Mining rigs are Bitmain’s major product and with crypto mining equipment losing value, this is not good news for the company. The news also comes in a bad time since Bitmain has been planning an IPO on the Hong Kong Stock Exchange.

The loss of $500 million in Q3 of 2018 can now complicate this effort. Charles Li Xiaojia, the CEO of HKEX has already raised concerns with crypto firms. Last month, Xiaojia put into question the sustainability of businesses like Bitmain. This was mainly due to the huge toll paid by the crypto mining sector because of the prolonged bear market.

Many investors share Xiaojia’s concerns. Their concerns mainly lie with whether or not the business has an actual sustainable business model. They are also very concerned about the huge exposure of crypto mining equipment makers like Bitmain to cryptocurrencies.

Crypto mining equipment and the market state are taking their toll

Bitmain’s IPO plans are most likely heading to the shredder resulted in the ever decreasing fortunes of the company. Additionally, the company’s co-CEOs Jihan Wu and Zhan Ketuan have been relieved of their duties.

Back in January, the South China Morning Post reported that both Jihan and Ketuan are stepping down. Jihan and Ketuan who are also co-founders remain as co-chairs of the company for the present time.

Bitmain hasn’t been restructuring only at the top. The company recently did a huge series of layoffs throughout offices in the entire world.

The year didn’t start off too good for the crypto mining equipment giant as last month, the company shut down a mining operation in Texas. The operation had nearly 8000 functioning crypto mining rigs.

This is a huge stretch of bad news over the last for months for Bitmain. After the $500 million loss announcement, it’s unclear if the company will push ahead with the IPO plans. Even if it does, at this point, chances are slim that the HKEX will allow it.

You can also check out:

QuadrigaCX: A Tragedy Worth $150 Million in Cryptocurrencies

Cannabis Stocks are Great Investments Because of the New $867 Billion Farm Bill

Raptor Rocket Engine: SpaceX and the Road to Mars

The iPhone is Rapidly Losing Popularity and Market Shares in Asia

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lewisgabriel84z31 · 5 years

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Where Does HODL Come From And Why Is It Important?

A drunken typo sparked the era of crypto-slang, but the post behind it showed that die hard Bitcoin and cryptocurrency holders are here to stay. On December 18, 2013, just as Bitcoin prices crashed from almost $1,200 USD to below $700 USD in a matter of 3 weeks, a BitcoinTalk user going by the name GameKyuubi, decided to share with the community on BitcoinTalk his feelings on a rough night. Despite his slightly altered mental state, GameKyuubi made an important point about why he was “hodling” Bitcoin despite the dump. Those who read the post and commented afterwards, immortalized the term “hodl” thereafter, signaling the start of a movement.

A Drunken Post is to Blame?

GameKyuubi’s point on his post was that he is not a good trader, so even when the price goes down and times are rough, he will hodl. He obviously meant hold, but that doesn’t matter. The take away from his post is that traders will make their money regardless, but people shouldn’t be swayed or convinced that they can call the peaks and troughs as well as those who make millions doing so. If you believe in it, just hodl your Bitcoin and be patient with the market; better days will come.

GameKyuubi’s post on BitcoinTalk

HODL: Changing the Way we See Bitcoin and the Way we Talk!

Nowadays, the message that GameKyuubi was trying to deliver should be implied every time someone says or writes “hodl,” but this is not necessarily the case. That drunken typo has taken a life of its own and many times we forget what that short drunken rant on December 18th, 2013, was all about. As a stand-alone term, people write or say hodl whenever cryptocurrency prices are going down, but do they really mean it? Do they know what they imply when they use the term?

Hodling is about changing the way we see Bitcoin and other cryptocurrencies. They are not necessarily a vehicle to make large fiat profits; they are an alternative to a deeply flawed financial system. Just like GameKyuubi’s post states, this is a zero-sum game. There are just so many coins to go around, so if they offer a good alternative to the traditional financial system, chasing traders for a fiat profit is useless. Hodlers will always be on the wrong side of that trade, because the reward they should reap from Bitcoin might only come years from now.

Other Interpretations of the Term HODL

There are other interpretations of the term “hodl” that have less to do with that post. Some say that HODL means “hold on for dear life.” This interpretation could be an attempt to infuse the term hodl with additional meaning, or to solidify the message behind the term that we often forget. There could be other interpretations, but the common denominator of them all is to hold your coins.

The term “hodl” also gave way to certain derivatives that revolve around holding coins. People who are in the space use these derivatives regularly. You can refer to someone as a “hodler” for instance, when you know that person doesn’t engage in trading, or when that person will hold their coins long-term. To hodl also became a verb. These derivatives are prominent in Bitcoin or cryptocurrency fora.

Always Understand Why

Besides the way the term hodl and its derivatives are used, people should understand the message behind the term itself. If you are not a good trader, you might be better off holding your coins through a bear market. However, only you can assess your situation vis-à-vis your finances. Keep in mind that even those traders that make money selling high and buying low, are not necessarily certain about where the peaks and troughs are, no matter how much charting they do and how much they tell you about it through their Twitter account. Therefore, only you can know if you should hodl or not.

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