Category Archives: ethereum

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Vitalik Buterin Concedes Ethereum’s Price Does Matter

Vitalik Buterin Concedes Ethereum's Price Does Matter

Ethereum co-founder Vitalik Buterin has conceded that the price of Ether (ETH) is important for the future of the ecosystem, despite past comments contradictory to this.

Speaking at the Columbia Journalism School earlier this week, Buterin admitted that in the early days of Ethereum the developers were not focused on the price of ETH. Instead, the efforts were focused on pushing forward the development of smart contracts. They even felt it gave them an edge over other cryptocurrency projects that were promoting ”lambo-ing”, as Buterin put it.

First @laurashin asks @VitalikButerin if he thinks the price of #ETH is important, and then she polls the audience. #unchained pic.twitter.com/8xNIQ0XzJc

— Columbia Blockchain (@ColumbiaCBA) March 20, 2019

Now, however, his outlook has changed. “I’m going to be really candid,” he told the full-house audience, acknowledging that the developers now see that “projects will be better if prices go up”.

ETH currently stands at around USD 135 — a 90% loss from its December 2017 peak, so it is perhaps not surprising that Buterin is concerned over funding for future Ethereum protocol development.

When the Columbia Journalism School audience was polled over whether they believed Ethereum developers were focused enough on the price of ETH, only 13% said yes. About 28% said they believed they should focus more on ETH price, while 39% said they did not care.

 

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North Korean Dissidents Sell “Post-Liberation Blockchain Visas” on Ethereum

North Korean Dissidents Sell “Post-Liberation Blockchain Visas” on Ethereum

Political dissidents of North Korea’s authoritarian leader Kim Jong-un have taken to the Ethereum blockchain to issue so-called “post-liberation blockchain visas” in an effort to raise cryptocurrency funds to overthrow the government.

So far, the group known as the Cheollima Civil Defense (CCD) has raised USD 57,000 in Bitcoin and will be selling the G-VISAs for ETH 1 each.

CCD says the visas will allow international travelers to visit the country once Jong-un’s regime has been overturned, with 2,000,000 nun-fungible ERC-721 based tokens to be created.

A list of ten rules has been attached to the visas, including an expiration date of 1 March 2029 and maximum visitation length of 45 days. Visa holders will be granted anonymity throughout the process.

G-VISAs can officially be purchased from 24 March at 12:00 UTC, although the CCD has listed Bitcoin and Ethereum addresses where they have already collected the USD 57,000 in donations. CCD guidelines strictly state that the tokens are not for trading or participating in other speculative activities.

The dissenting political group has implored international media to restrain from publishing any personal information on its members due to the risks posed by government officials in North Korea.

The statement to the media, published in both Korean and English, reads:”The identification of even a single member could lead to the identities of others. Several of us have already escaped their attempts on our lives and that of our families.”

 

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BitcoinNews.com Ethereum Market Analysis 18th March 2019

BitcoinNews.com Ethereum Market Analysis 18th March 2019

It is already the fourth week that buyers have decided their relationship around the price zone of $135–140. This week, buyers are trying to fix themselves above this zone but these attempts look uncertain. The fact is that after 13 March, when sellers could not update the local minimum, they began their growth attempt. However, if we compare the size of candles and their volumes, we assume that this attempt will also fail. Now the price moves in the local channel, which is more like a correction channel, after which the fall should continue.

If we analyze the marginal buyer positions, from the beginning of March, buyers are increasing their positions. The exception was today:

Sellers, on the contrary, reduced their positions, but all this happened in the wedge:

Therefore, there is a high probability of an active increase in margin positions of sellers soon, which will lead to a fall in prices.

On a weekly timeframe, the situation looks not to the benefit of buyers:

After a flawed breakdown in February, the volumes of each subsequent week decreased and the candles clearly show that the balance of power is beginning to change.

According to the wave analysis, we expect the wave d to continue formation and a test of $120:

With a high probability after the test of this price zone, consolidation within the triangle will continue and buyers will try again to break through $155–160. However, with the appearance of abnormal volumes at a price of $120, there is a great chance again of a test of $82.

Globally, we are seeing the weakness of buyers and the continuation of trade in the falling channel, which was formed from January 2018. However, before consolidation in the triangle may be delayed until the end of April. Therefore, the critical points remain the same. Sellers, for a confirmation of this force, should keep $155–160. To maintain a growth chance, buyers should keep $120. And we have to wait for a breakdown of control points and then make important decisions.

 

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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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Coinbase Moves with Cold Storage Trading via Custody Service, OTC Desk

Coinbase Moves with Cold Storage Trading via Custody Service, OTC Desk

US cryptocurrency exchange giant Coinbase has just announced that it plans to combine its custody service with its newly launched over-the-counter (OTC) desk in order to facilitate cold storage trading.

The move is partly a response to requests by Coinbase customers who have been pushing for cold storage trading since the recent launch of the OTC desk, mainly in order to sidestep the additional movement of client funds online before they can be traded.

Coinbase launched its OTC cryptocurrency trading desk at the end of 2018 again reacting to “client demand”, as well as gearing towards broadening its customer base to include more institutional clients. Its cryptocurrency custody was launched in July of 2018 for much the same reason in order to attract large financial organizations to the exchange.

The new cold storage trading facility promises to a route to the future of trading according to Sam McIngvale, the CEO of Coinbase Custody, who sees this as “the defacto way to trade”. However, the newly-announced feature rather follows in the footsteps of blockchain security company BitGo who already launched their own custody trading product earlier this year.

There are those that feel that Coinbase Custody could be far better than BitGo for this simplified trading process, due to its pull on larger institutional clients; a potential client base which has firmly been in the San Francisco-based exchange’s sights for some time. John McAfee is one who has long viewed this client pool as a future crypto industry game changer; long predicted maybe, but as yet still yet to become reality.

Institutional investors are preparing to enter the cryptocurrency market with a vengeance. They are generally long term investors and will be pumping billions into the market. Expect the top ten coins to go through the roof fairly quickly. The bulk of alt coins will soon follow.

— John McAfee (@officialmcafee) May 21, 2018

This won’t stop Coinbase trying though, and cold storage trading is another step down that road.

 

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Joseph Lubin: Blockchain Good for Journalists

Joseph Lubin_ Blockchain Good for Journalists

Journalists and content creators can take advantage of decentralization and blockchain technology, according to Joseph Lubin, creator of ConsenSys and co-founder of Ethereum. Lubin discussed various industries that are taking advantage of blockchain technology in a video released this week.

Lubin said that blockchain would allow artists to get rid of middlemen while attaching stipulations and policies to content to make sure that it is shared and consumed according to the artist’s choice.

It is claimed that in the music industry, big record companies secure around 70% of the total profit, giving only 11-12% to the artist. A smart contract on Ethereum platform can replace those record companies, maintained Lubin.

However, he admitted that there will still be intermediaries, required for tasks such as promotion. Nevertheless, they will be unable to “get to a commanding position” and blockchain will not allow them to extract enormous profits.

He urged the “gutted” journalism industry to deliver content directly to the consumer by using blockchain platforms such as Civil.

In that way, the industry can “return ethics to journalism” as well. Newsrooms can form a code of ethics by using blockchain platform, he suggested. Later, that security bond can be staked on the platform. In case anyone breaches the code of conduct, their listenership or readership can challenge their stake and have them removed from the platform.

 

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