PR: Internet of Things Marketplace DataBroker DAO Continues at Full Speed, Announcing 3 New Alliance Members and Listing on Tokenjar

Bitcoin Press Release: DataBroker DAO has had a successful token launch and since has been busy at hand prudently planning for the next stages of the DataBroker DAO journey, so here’s an update.

August 8th 2018, Dubai, UAE DataBroker DAO is an Internet of Things (IoT) sensor data marketplace that has captured the imaginations of industries and governments around the world. The platform they are building is chiming due to the nature of IoT technology; it’s touted as a major part of the fourth industrial revolution and is also underpinned by another extremely popular emerging technology, the blockchain.

Token Launch & New Listing

Very recently, the DataBroker DAO token sale for its native token DTX ended. Following this it was listed on CoinMarketCap and was shortly available for trading on two extremely credible exchanges in both East and Western civilizations, Bitforex and CoinFalcon. Joining the previously mentioned exchanges, DTX tokens can now be traded on Tokenjar.Tokenjar is a decentralized exchange, which boasts zero service fees and direct transactions from wallet to wallet without the need for deposit, registration and KYC. Their underlying technology is the 0x Protocol, an open and permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain.

Ironing out the Creases

In order to confidently and concretely display the advantages and possibilities of the DataBroker DAO platform, the team are prudently working on use cases, stories and examples of the platform at work, transforming lives and enterprises. Meanwhile, they are also trying to make the idea more comprehensible to appeal to different market segments.

At present Databroker DAO has about 25 organizations ready to be part of the platform, and now, the company are preparing the onboarding experience one alliance member at a time; they do this with diligence as every alliance member has different needs and requirements. Another essential in Databroker DAO’s mission is to get the developers they need by the end of the summer – this in tandem with the onboarding of alliance members with large data sets means the DataBroker DAOplatform will hit the ground running at full speed.

One final example of the challenges Databroker DAO is tackling is the messages they need to send out to token sale participants and our alliance members. There are the early believers who took part in the sale and our first twenty five alliance members to take care of; there is also the rest of the world that we are trying to reach.

Getting Ready for the IoT Future

Right now, they’re giving their focus to IoT sensor data owners and buyers, and when they successfully break through and manage to put all these pieces together, early birds and latecomers alike are going to reap the long-term rewards of a fourth industrial revolution technology, backed by blockchain.

Databroker DAO would also like to encourage everyone and anyone to check in on their Telegram channel, every so often they share updates so it’s a great way to keep posted on what they’re up to; furthermore, they offer a big thank you to the community managers of Amazix for their contributions to they Telegram channel. DataBroker DAO is proudly looking forward to working with and for the future of IoT technologies.

Forging Alliances

DataBroker DAO welcomes three new Alliance members to bolster security, crowd-sensing as well as project management and consulting.

Rivetz produce embedded, blockchain-based mobile security solutions, the technology they provide offers a guarantee of security for digital assets and transactions. Through Google’s Authenticator, users are protected from phishing attacks, fraud and identity theft; the Rivetz Developer Toolkit on the other hand, offers a simplified protection service without the need for passwords, pin numbers and 64-character private keys.

Second up is SenLab, cutting-edge mobile enterprise solution company that provides an award-winning smartphone Internet of Things (IoT) dashboard, gateway, cloud and API for prototyping, testing and piloting. They are active in the crowd-sensing field, utilizing a large, spread group of participants who are using mobile devices to receive reliable data.  This method has proven favourable in the monitoring of traffic and roads, urban mobility, smart cities, social networking, healthcare, safety and environmental monitoring.

Finally, Eurocon is a project management and consulting business with specialism in managing technology and business clusters, innovation centers, international pilot projects in emerging markets and advanced digital programmes. The company has been running an IoT community event since 2011 as a networking connector for smart city, Industry 4.0, logistics, healthcare and supply chain industries.

Visit the DataBroker DAO Official Site – https://databrokerdao.com/
Check out the Whitepaper –https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf
Chat on Telegram – https://t.me/databrokerdao
Follow on Twitter – https://twitter.com/DataBrokerDAO
Like on Facebook – https://www.facebook.com/DataBrokerDAO/
Read the Medium – https://medium.com/databrokerdao
Follow the development live on GitHubhttps://github.com/DataBrokerDAO
Check out the SubReddit – https://www.reddit.com/r/DatabrokerDAO/

Media Contact
Contact Name: Frank Van Geertruyden
Contact Email: frank@databrokerdao.com

Databroker DAO is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy:

The post PR: Internet of Things Marketplace DataBroker DAO Continues at Full Speed, Announcing 3 New Alliance Members and Listing on Tokenjar appeared first on BitcoinNews.com.

Genesis Terminating Bitcoin Mining Contracts

Genesis Mining, which is one of the biggest crypto cloud mining services with 2 million customers, says that Bitcoin mining has become unprofitable. It says that its Bitcoin mining contracts aren’t even making enough money to cover maintenance fees. As such, it is terminating all open-ended contracts, meaning contracts that don’t have a term, within the next 60 days.

The drop in Bitcoin price is one of the main reasons Genesis Mining contracts are no longer profitable, considering that Bitcoin has dropped from USD 20,000 to USD 6,000 since December 2017. However, the price of Bitcoin is far higher than it was one year ago, and the main factor making mining unprofitable is the increase in Bitcoin mining difficulty. Miners purchased tremendous amounts of equipment as Bitcoin’s price rose and the effect on Bitcoin’s hash rate lagged the market. Bitcoin difficulty has been rising all year, due to increased mining hash rate throughout 2018 despite the drop in Bitcoin price. Hash rate exceeded 50 exahash/s recently, the all-time high and currently, Bitcoin mining difficulty is near 6 trillion. When Bitcoin price hit its all-time high in December 2017 mining difficulty was less than 2 trillion.

Genesis Mining is saying that customers have the option of purchasing 5-year Bitcoin mining contracts that can’t be terminated. They are offering an upgrade to the long-term contracts for USD 180 per TH/s for 5 years, which is reduced from USD 285 for customers that don’t have the open contracts. The maintenance fee is USD 0.14 per day, which is apparently reduced from the fees for contracts with open terms. Apparently, the down payment for the contracts is being used to reduce the fee. 1 TH/s at the current difficulty produces USD 0.27 per day, so that’s USD 0.13 of profit per day.

This comes out to 1,385 days for Genesis Mining customers to break even at the reduced rate, and 2,192 days at the normal rate for 5-year contracts. For normal contracts, this means the break-even time is six years, longer than the length of the contract.

It appears to be an illustration of how cloud mining Bitcoin is a risky venture at best. Most experienced miners recommend buying your own equipment and working with a group of people to buy Bitcoin mining equipment at wholesale prices.

Of course, Bitcoin has strong long-term potential, so even if mining with Genesis is unprofitable in the current conditions, it could end up being very profitable to save the small amount of Bitcoin these contracts produce if Bitcoin hits USD 100,000 or USD 1 million like some experts expect.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post Genesis Terminating Bitcoin Mining Contracts appeared first on BitcoinNews.com.

Bitcoin Taproot for Anonymous Smart Contracts

Bitcoin developer Greg Maxwell has finished coding Taproot, a scheme that will make smart contracts hidden on the blockchain. However, Schnorr signatures need to be added to Bitcoin for Taproot to work, as well as Merkalized Abstract Syntax Trees (MAST). Taproot is named after the way Bitcoin smart contracts represent the root of a plant, with a thick central path and small alternatives that branch off.

As it is now, smart contracts can be created with Bitcoin using multiple signature (multi-sig) transactions. These sort of transactions require private keys from multiple people or they won’t be sent. This is quite rudimentary though, which is why MAST was developed. MAST allows conditions to be set on the signatures required, just in case one of the private key holders disappears or refuses to sign. With MAST users can set a time limit until only one signature is required, and any variation of this sort of thing, so Bitcoins that require multi-sig don’t get lost.

When multi-sig transactions associated with smart contracts are broadcast to the blockchain they are quite obvious in the block explorer, since they are different than all other transactions. Taproot increases anonymity by making multi-sig transactions look like a normal transaction. When Taproot is implemented, Lightning Network transactions won’t look different on the Bitcoin blockchain, since Lightning Network uses multi-sig smart contracts.

However, with the current Bitcoin signature scheme, Taproot won’t function properly. Bitcoin needs to be updated to Schnorr, a signature algorithm that is supposedly much better than the current algorithm. Schnorr allows signature data to be mashed together, which is essential for Taproot since it merges multiple keys into a single key.

For Bitcoin to be updated to add Schnorr and MAST, it would require the consensus of developers. If consensus is achieved, they would upload a new version of Bitcoin to their repository. Then, the Bitcoin world can choose to adopt the new version or not. Bitcoin updates often lead to controversy, as was seen with the vicious SegWit battle that caused Bitcoin Cash to form. It remains to be seen how the community will collectively respond to the Bitcoin updates needed to make Taproot a reality.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post Bitcoin Taproot for Anonymous Smart Contracts appeared first on BitcoinNews.com.

Reality Shares Launch $100 Million Crypto Hedge Fund

Reality Shares is launching a USD 100 million crypto hedge fund, joining a long list of new crypto hedge funds, a sure sign that institutional investment into the crypto space is increasing.

Reality Shares has already set aside USD 25 million to start the fund up and shouldn’t have a problem expanding to the projected USD 100 million. The firm is responsible for launching the first blockchain exchange traded fund (ETF) in the world, listed on Nasdaq China as BCNA, which has been extremely successful, generating USD 100 million of cash in only a couple of months.

There are already 466 crypto hedge funds in existence, most of which were launched during 2017 and 2018. Some of these hedge funds have made headlines on Bitcoin News, such as Galaxy Digital, Benson Oak, Andreessen Horowitz, Lightspeed Ventures, Autonomous Partners and Grayscale Investments. Essentially, lots of big names and big investors recognize the potential of Bitcoin and crypto, and are building their investment infrastructure.

This new crypto hedge fund from Reality Shares will be in the top 100 crypto hedge funds, when using total investment to rank. Even though USD 100 million isn’t enough to significantly impact global crypto prices, the aggregate of institutional investment so far is definitely pushing crypto prices higher and setting the stage for much bigger investments in the future. Once the crypto markets start rallying again, institutional investors will pour money into crypto hedge funds, accelerating the rally. The most important thing is that the infrastructure is being solidified and will be ready by the time this happens.

Reality Shares will use a mix of arbitrage, venture, and directional strategies. To break this down, this means it is planning on making profits from price differences on exchanges across the globe, investing money into crypto startups, and also will be making long or short bets on crypto prices.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post Reality Shares Launch $100 Million Crypto Hedge Fund appeared first on BitcoinNews.com.

BitMEX CEO Dismisses Ethereum as “Double Digit Shitcoin”

The CEO of BitMEX, Arthur Hayes, has said that “Ethereum is a double-digit shitcoin“. He predicts that it will fall below USD 100 when everyone decides to sell all at once.

Ethereum is already on an extreme downtrend, having dropped from USD 1,400 to less than USD 260, before bouncing back up slightly to USD 290 as of this writing on 16 August 2018. Bitcoin has declined sharply too in the same time from USD 20,000 to USD 6,400, but this is a 68% drop versus Ethereum’s 79% drop.

BitMEX, the largest crypto derivatives exchange in the world with USD billions of trading volume per day, listed Ethereum contracts two weeks ago. These are perpetual swap contracts that exchange Ethereum derivatives for USD, similar to the most popular Bitcoin derivatives product on BitMEX. Currently, the daily volume on BitMEX is ETH 800,000, about USD 250 million. This is nearly on par with Binance’s and Bitfinex’s ETH 1 million of combined trading volume during the same time. Perhaps BitMEX is on track to become the largest Ethereum exchange in the world, although once again this is a derivatives market and not physical cryptocurrency.

The timing of Ethereum being listed on BitMEX and the sharp decrease in its price might not be a coincidence. Ethereum was steady near USD 470 prior to the listing and has dropped nearly 40% since trading started on BitMEX. The possible connection is that BitMEX offers short selling and leveraging, allowing traders to make bets that Ethereum will drop and then multiply those bets. The end result is a massive amount of bets that Ethereum’s price will drop and then it did drop, so these short sellers made huge profits.

The fact that the CEO of BitMEX is now saying Ethereum is going to drop below USD 100 suggests that traders on BitMEX will maximize short selling Ethereum, which could make this a self-fulfilling prophecy. The Ethereum market is smaller than the Bitcoin market and easier to manipulate, and BitMEX is sizable enough that it has definitely influenced Bitcoin’s global price. The quarter-billion USD of Ethereum volume on BitMEX per day is only a small taste of what BitMEX is capable of.

The CEO of BitMEX speculates all the venture capitalists will sell at the same time. The huge amount of short selling on BitMEX has the potential to initiate, accelerate, and propagate the crash of Ethereum. Of course, BitMEX traders can go long on Ethereum too and bet that it will rise, but with the CEO of BitMEX calling for sub-USD 100 prices, that is less likely.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post BitMEX CEO Dismisses Ethereum as “Double Digit Shitcoin” appeared first on BitcoinNews.com.

SEC Slaps ICO Scammer with $30,000 Fine

David T Laurance has been issued a USD 30,000 penalty from the US Securities and Exchange Commission (SEC) due to his connection with a fraudulent initial coin offering (ICO). He has also been barred from holding officer and director positions, or from trading in and owning penny stocks.

Laurance was the president and CEO of oil drilling company Tomahawk Exploration LLC, with whom he has been employed for eight years. Last year, he launched the ICO for the company’s new token, Tomahawkcoins, saying the funds raised would be used for oil exploration and drilling in California.

The SEC claims that the ICO provided false information during its promotion, including advertising inflated oil production projections and falsely claiming Tomahawk already held drilling permits for the sites in California. Additionally, Laurance was portrayed as an individual with a flawless background, when according to the SEC, he has been found guilty of involvement in deceitful security offerings prior to this conviction.

The ICO failed to raise the USD 5 million as planned but a bounty program was set up by the company to trade Tomahawkcoins for online promotional services. Laurance and Tomahawk have been issued cease and desist orders, while they chose to neither accept or deny the legitimacy of the claims.

The SEC used the opportunity to reissue a warning of scammers working with similar operations, with a press release for the case telling people to be wary of offers with unusually high returns on investment. A useful search tool provided by the SEC is Investor.gov that lists details of a variety of investment professionals.

Despite Laurance’s charges, a recent study indicates that ICOs account for under 2% of securities class action lawsuits. While any number is too high, it is at least beneficial for the industry that this number can be identified and made to face justice.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post SEC Slaps ICO Scammer with $30,000 Fine appeared first on BitcoinNews.com.