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How You Can Spend Your Bitcoin Fortune wisely

How You Can Spend Your Bitcoin Fortune wisely

http://bargeldwillkommen.com/wp-content/uploads/2014/06/BellaVista_sample.jpgLet’s face it: Having only crypto will not make for a good life. And crypto now is high, very high. A correction is in the cards, so why not lock in the insane profits and convert it to something you can touch, see, feel and use? At  a bargain?

A friend of mine is offering this one-of-a-kind real state in the Caribbean, a true mansion, your neighbors will be Schmid from Google, and other hi-flyers. Cabarete, one of the six important surf and kite surf locations in the world is just 5 minutes by car.

He is very motivated to sell as he needs to go back to Europe to take care of his elder parents.

Go and have a look for yourself

Or here first a video:

 

South Korea Recruiting Blockchain Evaluators

South Korea Recruiting for Blockchain Evaluators

The South Korean government’s Ministry of Information and Communication has announced the setting up of a blockchain evaluation team. citing a document released on 17 March.

According to an official document, the ministry is accepting applications for 30 positions for its Blockchain National Participation Evaluation Team. The objective of the exercise is to share knowledge of its findings in its exploration of public-private blockchain pilot projects. The application process will run until 15 April.

The team will be tasked with the responsibility of forming a basal blockchain assessment in both private and public sectors, while attending conferences, formulating interim reports and performance evaluations of blockchain pilots.

The director of Internet Convergence Policy at the Ministry of Information and Communication Jim Jung-Won had identified communication as being an essential part in developing the blockchain technology. He said: “The blockchain is a technology of participation and communication.” As such, the Blockchain People’s Participation Evaluation Team is expected to function in such a way as to allow participants to gain a fundamental experience with the workings of blockchain technology. Jung-Won added:

“Through the operation of the Blockchain People’s Participation Evaluation Team, more people are expected to have an opportunity to experience the effectiveness of the blockchain technology.”

Further, the evaluation team’s sharing-experience will enable the information system created around blockchain technology to become essentially decentralized, as areas covering development and experience process, monitoring of the entire pilot project and acting as a liaison between the public and the ministry will be facilitated through social network services (SNS).

It appears the contract will be for a year only, meanwhile, an appraisal of outstanding performance will also be conducted. The document states: “The National People’s Participation Evaluation Team will be limited to this year, and excellent performers will be awarded at the end of the year.”

Last year, a band of 40 international and South Korean experts formed a committee to oversee the establishment of a blockchain hub, tasked with the responsibilities of strategy formulation to aid the development of the blockchain industry.

 

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BitcoinNews.com Bitcoin Market Analysis 17th March 2019

BitcoinNews.com Bitcoin Market Analysis 17th March 2019

Buyers are approaching the liquid zone, in which sellers with great desire begin to sell. When the price touched the trend line, the volumes increased and the pins appeared. Also, this price zone coincides with the upper trend line of the triangle, where the price is traded from November 2018.

One more week ended where the buyers decided to check the strength of the sellers. The whole week, the price was traded under the level of $3,988 and buyers did not have enough strength to stay above this level. However, the sellers did not try to continue to fall. From Friday, buyers still managed to break through the local level and test the upper trend line of the triangle. How did this happen?

The breakdown of the level was on small volumes. After the breakthrough, the sellers did not try to bring this level under control. It is perfectly visible on the volumes of a red candle below the price of $3,988:

This fact seems suspicious to us, since buyers have not been able to break through this level for a whole month, and on 15 March, they have made it without obstacles.

The main volume of this week was recorded on 16 March in the process of testing the upper trend line of the triangle. Let’s consider the situation on the 15-minute timeframe:

The increased volumes did not give the final result to buyers and the trend line was not broken. Also, taking into account the pins on increased volumes, we can conclude that most of these volumes were formed by sellers who locally unrolled the price from the trend line.

Therefore, given the nature of the movement and the quantity of volumes this week, we think that the probability of breaking the triangle upwards and continuation of a strong rapid growth remains unlikely.

If we analyze how, during four months starting from November, buyers are trying to build their attacks, it becomes clear that every subsequent attack grows weaker:

Pay attention, how aggressiveness and volumes are decreasing during each growth attempt. The impression is that sellers are simply exhausting buyers before a new fall wave.

This is another fact in favor of sellers.

Marginal positions of buyers decreased this week. However, at the moment of the test of the trend line, the buyers believed in the chance of breaking the triangle up and began to open their positions emotionally, after which it would be equally emotional to close them:

Sellers have been increasing their positions for the second week in succession. This happens on the growth of the coin. This testifies to their confidence that the fall will still continue:

According to the wave analysis, globally, the wave Y continues to form now. At the price of $4,360, the wave W = Y * 0.5. Now the price is under this level. And if buyers can not break through this price, then the global prospect of continuing the fall will be up to $2,650:

Therefore, until buyers aren’t acting with increased volumes and a positive mood, we will not believe in the future of the change in the annual fall trend and in the best case, expect the continuation of consolidation within the triangle maximum until the beginning of April.

 

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About the Author: Peter Oleshchuk is a trader and technical analyst.

He has spent two years studying and analyzing the crypto market.

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SEC Announces Second Forum on Crypto and Blockchain

SEC Announces Second Forum on Crypto and Blockchain

The United States’ Securities and Exchange Commission is set to launch its second public forum on cryptocurrency and blockchain on 31 May.

The forum held in conjunction with the SEC’s Strategic Hub for Innovation and Financial Technology (FinHub) has caused the industry to speculate if major changes in regulation are being considered by the regulatory body.

Until now the SEC has bordered on hindering any progress that the cryptocurrency industry’s major institutions and exchanges have fought for in attempting to bring digital currency into mainstream use. This includes delays on exchanges’ ETF approvals which are still waiting for green stamping and a lack of clear guidelines for the industry as a whole.

On a positive note, it’s thought that the fact the forum is open to the public and follows the SEC announcement of a “crypto tour” to engage with industry professionals, shows that the regulators are moving towards dealing with some of the growing regulatory issues which until now have been stalled.

One of the SEC’s concerns has been the risk of driving potentially innovative startups overseas in order to seek more relaxed regulations; a reason that the SEC, whilst it has been unclear on rulings and guidelines for the industry, has largely kept a hands-off approach. A change in attitude is clearly emerging over the past year following the SECs fairly intractable view regarding both security and utility tokens in the past. SEC Chairman Jay Clayton recently commented that a cryptocurrency can be sold as a security if it meets the definition of an investment contract after launch, and that the digital asset can later be sold without being defined as an investment.

The forum itself will include a live online broadcast and a panel of industry professionals and academics who are yet to be announced. Topics such as ICOs, crypto platforms, and blockchain will be the main focus of the event.

 

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Bank Of Mexico Further Complicates Its Crypto Rules

Mexico’s Central Bank has published new crypto related rules which has left many industry players confused as to the ramifications of the new provisions.

The new rules which were published by the central bank in the federations official gazette before the weekend stated that the Bank of Mexico (Banxico) “stipulated that they wouldn’t authorize any cryptocurrency to be offered by regulated financial companies.”

The confusion lies in the fact that fintech law brought in 12 months ago simply requires exchanges to put in an application for an operating license. Toma Alvarez, CEO of Mexican exchange Volabit explains how that law operates:

“This law stipulates that services that hold custody of users’ fiat money or cryptocurrencies (most brokers and exchange business models require this) have to apply for a license issued by the Mexican equivalent of the SEC (CNBV).”

Alverez adds that the idea at the time was that the responsibility would be with the central bank to determine which cryptocurrencies were to be offered by the regulated companies and come up with a workable framework to facilitate this. The new ruling is in complete contradiction to this.

A catch-22 scenario now exists as a result because the law requires you to become a regulated financial institution (otherwise you would be operating illegally). However, once you obtain this license, you would not have the authorization to list cryptocurrencies, thereby making it legally impossible to operate an exchange in Mexico under the new law. The Central Bank explains:

“Institutions may only enter into transactions with virtual assets that correspond to internal transactions, subject to the prior authorization granted by the Bank of Mexico.” and adds, “They will not be eligible for obtaining the authorization” to directly provide their clients with cryptocurrency exchange, transmission or custody services.

Alvarez explained that exchanges are awaiting further clarification as to how this impasse might be overcome for current exchanges and comments:

“Fintech companies in Mexico are operating with a special waiver until the process for registration is ready thus allowing companies to register for the license. This will happen in around 6 months.”

However how useful this license will be when issued remains to be clarified. This is not the first punitive ruling affecting the industry after financial entities were required to identify customers involved in cryptocurrency trading late last year.

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FIO Study: 60% of Crypto Users Still Uncomfortable Making Payments

A recently published independent study claims that 60 percent of crypto users are “still scared to make a Bitcoin payment.”

The study was conducted by the Foundation for Interwallet Operability (FIO) self-described as a “decentralized, open-source blockchain protocol that makes it easier and less risky to move blockchain tokens & coins from one address to another.”

The FIO asserts that such can be put down to poor user experience and inadequate inter wallet communication; an inability to handle payment requests between wallets. It includes the fact that a large portion of the crypto wallet ecosystem doesn’t have a standard payment request system and each blockchain has a unique address format.

This is a problem that the FIO claims to have overcome, as they assert that their protocol now allows multiple address formats to be mapped to the same system, providing users the ability to own multiple FIO addresses inside a single wallet.

The FIO report released this week involved a survey of over 200 cryptocurrency holders who were asked about the regularity of their transfers and how they felt about the experience. There appeared to be a correlation between being familiar with crypto and being more confident in its use, as although 60 percent of respondents said they were uncomfortable with the process in general, “there was a statistically significant increase in users who marked ‘very comfortable’ based on the length of their time in crypto,” stated the report.

Various wallets and exchanges have now joined the FIO protocol’s initiative including Edge, BRD, Mycelium, Shapeshift, Mycrypto, Keepkey, Trust Wallet, and Coinomi. Edge wallet’s Brett Musser was complimentary, clearly seeking more simplicity for users so that user confidence can be boosted when it comes to using the blockchain:

“[Transferring] cryptocurrencies can be quite complex and intimidating to users of all stripes — But the FIO protocol is attempting to make these actions easier, rich with data, and more versatile.”

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