Splitting Bitcoins: How to Claim Your Bitcoin Cash From a Hardware Wallet

with No Comments

Splitting Bitcoins: How to Claim Your Bitcoin Cash From a Hardware Wallet

Here’s a short walkthrough for people looking to extract the Bitcoin Cash (BCH) currency from a hardware wallet like a Ledger Nano or Trezor device.

Also read: Markets Update: Bitcoin Continues to Orbit Above $3K

Extracting Bitcoin Cash from Hardware Wallets

Last week the Bitcoin blockchain split into two branches, of which one formed a new network called Bitcoin Cash (BCH). This means everyone who owned bitcoin before the fork, now owns the same amount of BCH tokens. Before the split, a lot of people kept their bitcoins on non-custodial clients like hardware wallets. At the moment many mobile wallets have not yet released tools to extract BCH. There are a few ways to split these types of wallets and walkthroughs online giving basic steps.    

Many individuals believed one of the safest methods to secure their cryptocurrency holdings during the hard fork was with a hardware wallet. Every major manufacturer assured customers both their BTC and BCH holdings would be perfectly secure. Now, before you begin make sure you have your seed phrase available and that you feel 100 percent comfortable with the entire splitting process. 

Ledger

Ledger Wallet released its coin splitting tool the day before the August 1 fork, which supports features like sending, receiving, and storing the BCH currency. In order to split bitcoins into BCH using a Ledger Nano S, users must download the latest firmware (1.3.1). When installing the firmware, users should understand that Ledger’s update will wipe the entire device and having your backup/seed phrase on hand is necessary.

Splitting Bitcoins: How to Claim Your Bitcoin Cash From a Hardware Wallet

First, go to the Ledger Wallet interface and download the applications manager. This will allow you to install the latest firmware and add the BCH currency to your device. After clicking update firmware connect on your Nano S, enter your PIN, and make your way to the dashboard. In the application manager section, select “firmware” and begin the installation. After the Ledger firmware is complete, you can set the same pin or a new one and select “restore configuration” with the right button on the Nano. The device will then ask you to type your seed phrase and following this procedure you will have access to your bitcoins again and the ability to access the bitcoin cash wallet.

Splitting Bitcoins: How to Claim Your Bitcoin Cash From a Hardware Wallet

Proceed to the application manager again and download all of the currencies you own including the Bitcoin Cash app. When opening the ‘Bitcoin Wallet’ from the Ledger Nano page, it will ask whether you want to access the BTC or BCH wallet. Users can choose to manage their BCH in the same account but can also split it to a separate BCH wallet so it’s not tethered to the main account.

Splitting Bitcoins: How to Claim Your Bitcoin Cash From a Hardware Wallet

For maximum privacy, people believe the best method is selecting the ‘split’ option. If the ‘main’ option is chosen users don’t have to send their BCH to a separate address. Inside the bitcoin cash wallet select a receiving address and copy it to the clipboard. Next, you want to access the ‘settings’ tab, choose the ‘main’ tab and then the ‘bitcoin cash’ option. Proceed to the ‘send’ section and enter the BCH address you copied to your clipboard and send the BCH to the split address. Following this step take a walk, or keep busy for an hour or so until the transaction is confirmed on the BCH chain. The only complaint I had with Ledger is the sending and receiving tabs in the Bitcoin Cash wallet still say only ‘Bitcoin’ which can be confusing.

Trezor

Trezor released their BCH tool on August 1, but had some difficulties and relaunched on August 3. In order to access bitcoin cash with a Trezor device, users have to go to the company’s beta wallet. At the beta wallet’s start page, plug in your device and enter your pin and from there you will see a firmware update (1.5.1) available. Downloading new firmware for Trezor does not require a device wipe, but you should always have your seed phrase handy when updating any Trezor firmware.

Splitting Bitcoins: How to Claim Your Bitcoin Cash From a Hardware Wallet

After the firmware is complete, you will then have access to the bitcoin cash wallet interface. Go to the wallets’ ‘receive’ section and copy a fresh address from the BCH wallet to your clipboard. If you didn’t split your coins with the tool yet, you would need to go to the tool page and “claim” your BCH. When you head over to the coin splitting tool page, you can then claim your BCH from the funds left on accounts before the fork. Paste the BCH address into the ‘send’ section (you can also use another BCH wallet or send the funds to an exchange) and send the coins to the address you copied.

Splitting Bitcoins: How to Claim Your Bitcoin Cash From a Hardware Wallet

After this step, you will see your unconfirmed BCH transaction inside the wallet, and you will have to wait for your transaction to be confirmed in the next block. The only downside to the Trezor extraction is you must split or “claim” your coins separately.

Splitting Bitcoins: How to Claim Your Bitcoin Cash From a Hardware Wallet

As stated above, you don’t have to keep your BCH on the Ledger or Trezor device, and you can forward them to an exchange. Further, you can download a Bitcoin ABC, Classic, Unlimited, and the Electron Cash wallet to store your bitcoin cash as well. The extraction process using both the Trezor and Ledger hardware wallet is relatively simple but takes some time to complete. Moreover, other hardware wallets like Keepkey and Bitbox have also released extraction walkthroughs that offer similar splitting methods.

Trezor’s official BCH extraction guide can be found here, and Ledger’s walkthrough can be found here.  

Have you extracted your Bitcoin Cash from a hardware wallet yet? Let us know in the comments below.

Disclaimer: Walkthrough editorials are intended for informational purposes only. There are multiple security risks and methods that are ultimately made through the decisions of the user. There are various steps mentioned in reviews and guides, and some of them are optional. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. For good measure always cross-reference guides with other walkthroughs found online.


Images via Shutterstock, and Ledger Wallet and Trezor interfaces. 


Show the world how cutting-edge you are with a bitcoin T-shirt, hoodie, bag, key-ring, even a Trezor hardware wallet. Shipping all over the world, quality merchandise and, of course, a payment system that makes people say “wow!” 

The post Splitting Bitcoins: How to Claim Your Bitcoin Cash From a Hardware Wallet appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2ulLzKt http://ift.tt/1L2dnrU

Australian Senators Push Reserve Bank to Make Bitcoin Official Currency

with No Comments

Australian Senators Push Reserve Bank to Make Bitcoin Official Currency

Two Australian senators have pushed for the Reserve Bank of Australia to embrace bitcoin and make it an official currency. Without it, the country risks its financial competitiveness and being left behind, they said.

Also read: Hedge Funds Investing in Cryptocurrencies ‘Exploding’ – 62 in Pipeline

Senators Call for Bitcoin to Be Official Currency

Australian Senators Push Reserve Bank to Make Bitcoin Official Currency
Senator Sam Dastyari

Labor senator Sam Dastyari and Liberal senator Jane Hume have pushed for the Reserve Bank of Australia (RBA) to “embrace bitcoins as an official form of currency,” the Sydney Morning Herald reported on Tuesday. Dastyari represents Australia’s largest State, New South Wales. Hume represents Victoria, the most densely-populated and second most populous state.

Without embracing bitcoin, Australia risks the future competitiveness its financial services industry worth $145 billion a year, the publication detailed, and quoted Dastyari saying:

This will be a revolutionary leap for the Reserve Bank and for Australian financial institutions. What we want to do here in Parliament is to create the political environment to allow that leap to occur.

When he first talked about bitcoin in the Senate, he recalled that one of his colleagues said to him, “I don’t get what the issue is, don’t they just melt all the coin bits they don’t use?” the publication detailed.

Australian Senators Push Reserve Bank to Make Bitcoin Official Currency
Senator Matt Canavan

Nationals senator Matt Canavan also publicly backed bitcoin. In September 2015, he asked the Australian Competition and Consumer Commission (ACCC) to investigate whether bitcoin companies were treated unfairly after major banks closed accounts of 30 such companies. However, in 2016, the ACCC cleared banks of any wrongdoing in this matter.

In 2014, he and Dastyari co-authored an article highlighting the attractiveness of the cryptocurrency. “The emergence of bitcoins and other forms of digital currency could revolutionise money markets,” they wrote. “If competition is so good in markets for products, why shouldn’t we allow competition in markets for currency too – why should governments have a monopoly?”

Australia Risks Getting Left Behind

Dastyari has been a major proponent of treating bitcoin as a regular currency since before the government removed its double taxation. He proposed back in 2015 that Australia could “establish itself as a global leader at the forefront of change in global attitudes towards digital currencies, and that the country shouldn’t risk being left behind by failing to investigate all the opportunities,” Afr reported at the time. He reiterated this belief again on Tuesday, adding that:

The question for Australia is are we going to follow or are we going to lead. We need to find a bipartisan way of doing this.

“We can’t compete with our Asian neighbours when it comes to producing cheap goods and services anymore,” he admitted but added that, “we can compete when it comes to financial services but that is going to mean big, bold decisions.”

Do you think the Reserve Bank of Australia will listen to the senators and make bitcoin an official currency? Let us know in the comments section below.


Images courtesy of The Age, Twitter, Sydney Morning Herald, Starts at 60


Need to calculate your bitcoin holdings? Check our tools section.

The post Australian Senators Push Reserve Bank to Make Bitcoin Official Currency appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2vJahbi http://ift.tt/1L2dnrU

New Reality Docu-Series About Bitcoin to Explore Regulation

with No Comments

New Reality Docu-Series About Bitcoin to Explore Regulation

Ignition Creative have announced that they will be producing a “reality docu-series” exploring bitcoin regulation in partnership with Blockchain Entertainment. The series, titled Capital Makeover: Bitcoin Brigade, is set to feature former lobbyist, Jack Abramoff, who was recently imprisoned for fraud, tax evasion, and corruption charges.

Also Read: The Evolution of Cryptocurrency Visuals, Memes, and Bitcoin Street Art 

The Series Will be Following a Team Of “Currency Nerds”

Jack Abramoff to Star in New Reality Docu-Series About Bitcoin

Ignition Creative and Blockchain Entertainment are set to produce a “reality docu-series” exploring bitcoin regulation. Ignition Creative is a television and motion picture production and marketing firm that has produced media for several major film and television studios. The series will be created in partnership with Blockchain Entertainment – a recently formed television and film production company dedicated to the topics of virtual currency and blockchain technology.

The press release for Bitcoin Brigade describes the series as following the creator alternative cryptocurrency AML Bitcoin, Marcus Andrade, and his team of “currency nerds” in their “crusade to prevent Congress from unintentionally destroying the digital currency industry”.

The series will feature Jack Abramoff, a former lobbyist who recently spent 43 months incarcerated for mail fraud, conspiracy to bribe public officials, and tax evasion between 2006 and 2010. Abramoff will be coaching Andrade and company in the techniques and landscape of American political lobbying.

“We Want This Series to Really Get Under the Hood of One of the Most Relevant Industrial Changes Happening Today” – Martin Kistler, CEO of Ignition Creative

Ignition Creative and Blockchain Entertainment to Develop Reality Docu-Series About Bitcoin

CEO of Ignition Creative, Martin Kistler, has expressed his company’s “fascinat[ion with]… the story of cryptocurrency and how it could change the consumer world as we know it. We want this series to really get under the hood of one of the most relevant industrial changes happening today”. President of Blockchain Entertain, Andrew Williamson, has stated that “digital currencies, such as Bitcoin, have been exploding in the past year, with much of the world looking on in wonder. However, the digital currency world itself is in a panic over recent and likely future moves by the United States Congress to halt the exponential growth of bitcoin. We wanted to delve into that conflict in a way that would be unique and riveting”.

Former lobbyist, Jack Abramoff, has expressed his initial surprise in having been approached regarding the series. When Marcus approached me, I didn’t know a bitcoin from a sirloin. But, after learning about this vital new technology, I quickly realized that his mission was essential if our nation is to continue to lead the world in innovation and finance – and so I pledged to do whatever I could to help – short of lobbying Congress myself.”

Do you think that Ignition Creative and Blockchain Entertainment’s ‘reality docu-series’ will expose new audiences to bitcoin and cryptocurrency? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Ignition Creative, and Blockchain Entertainment


Show the world how cutting-edge you are with a bitcoin T-shirt, hoodie, bag, key-ring, even a Trezor hardware wallet. Shipping all over the world, quality merchandise and, of course, a payment system that makes people say “wow!”

The post New Reality Docu-Series About Bitcoin to Explore Regulation appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2uC2yYu http://ift.tt/1L2dnrU

Hedge Funds Investing in Cryptocurrencies ‘Exploding’ – 62 in Pipeline

with No Comments

Hedge Funds Investing in Cryptocurrencies 'Exploding' - 62 in Pipeline

With this year’s incredible gains in the price of bitcoin, the number of hedge funds with exposure to cryptocurrencies is “exploding.” Fund administrator MG Stover & Co, accounting firm Auther Bell, and law firm Cole-Frieman & Mallon alone have 62 in the pipeline.

Also read: Hedge Funds Are Quietly Investing in Bitcoin

Exploding Volumes

As the prices of bitcoin and other cryptocurrencies skyrocket, a large number of traders are seeking to launch hedge funds investing in them. Hedge Fund Alert recently reported that “the number of hedge funds investing in digital currencies is exploding.” The publication quoted CPA Corey Mclaughlin, managing member at Auther Bell, who said:

I’ve been in the hedge fund space since 1998, and I’ve never seen anything like it in volume of launches in a particular area. It’s just crazy.

Hedge Funds Investing in Cryptocurrencies 'Exploding' - 62 in PipelineMatt Stover, founder of MG Stover & Co, shared the sentiment. “This is the first time I can remember where we have had a hard time keeping up with the sales calls,” he said.

Institutional investors are surprisingly interested in cryptocurrencies, according to hedge fund lawyer Karl Cole-Frieman. “I wasn’t expecting so many institutional players to be interested in the asset class,” he was quoted saying. Recently, news.Bitcoin.com reported that hedge funds are quietly investing in bitcoin. With this year’s explosive gains in the price of bitcoin, Hedge funds that offer cryptocurrency exposure are seeing windfall gains.

62 Hedge Funds in the Pipeline

Among client funds administered by MG Stover & Co., 12 of them are running digital-currency strategies. The firm has also made agreements to service 25 more, the publication detailed. Arthur Bell is working with about 15 fund managers on cryptocurrency funds and expects to take on 20 more in the near future. Meanwhile, Cole-Frieman & Mallon has helped set up 7 cryptocurrency funds this year and has 17 more in the pipeline. Altogether, 62 new cryptocurrency hedge funds will be brought the market by these three firms alone.

Demand for Hedge Funds Investing in Cryptocurrencies 'Exploding' - 62 in the PipelineAmong the new entrants, there are both those simply taking long bets on bitcoin as well as those “devising hedge fund-like strategies, such as capturing the arbitrage among various currencies,” the publication conveyed. Bitcoin’s value has risen over 200% this year.

“I think the majority of these cryptocurrency [funds] are trying to ride the opportunity du jour,” noted Neal Berger, founder of investment advisory firm Eagle’s View Capital. “It’s an access point for people who can’t buy it themselves or don’t want to learn how to do it.” Former Goldman Sachs executive Matthew Goetz, co-founder at Blocktower Capital, described:

It’s a wildly inefficient market where alpha potential is abundant — more than anything we’ve seen in our careers. We think it’s a rare opportunity for investors. It’s not often there’s a new capital market being born in front of you.

How do you think the many hedge funds entering the space will affect the price of bitcoin? Let us know in the comments section below.


Images courtesy of Shutterstock


Need to calculate your bitcoin holdings? Check our tools section.

The post Hedge Funds Investing in Cryptocurrencies ‘Exploding’ – 62 in Pipeline appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2wAUngh http://ift.tt/1L2dnrU

PR: StreamSpace Announces ICO to support Innovative Film Distribution Platform

with No Comments

StreamSpace Announces ICO to support Innovative Film Distribution Platform

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

AUSTIN, TEXAS, USA, August 7, 2017 – StreamSpace LLC announces its Initial Coin Offering (ICO) for its novel distributed storage and distribution platform. The StreamSpace ICO starts on August 21, 2017 1500 GMT (1000 US Central Daylight Time) and will last for 28 days, until September 18, 2017 1459 GMT (0959 US Central Time). In total, a maximum of 600 million StreamShares (SSH) will be distributed.

During the ICO, participants can exchange $0.05 USD or its Bitcoin or Ethereum equivalent per SSH, with a minimum purchase of 500 SSH ($25 USD), with applicable bonuses of up to 40% based on purchase volume and time of purchase. The effective BTC and ETH Exchange Rates will be set one hour prior to the launch of the ICO. Through this ICO, StreamSpace aims to raise up to $30 million USD.

StreamSpace intends to launch an innovative platform and community that will link creative, independent filmmakers with audiences that seek out quality, edgier film experiences.

There are nine key components to the StreamSpace platform:
* Patented, secure distributed storage method for the video content
* Blockchain transaction ledger for enhanced transparency and security
* Front-end decoder and embedded HTML5 player optimized for video streaming
* Content recommendation engine that helps consumers discover new content that fits their tastes, based on viewing habits and reviews / ratings
* Secure digital wallet so consumers and filmmakers can manage their accounts and stored assets with confidence in either fiat currency or tokens
* Private token exchange that monitors the market value of SSH tokens, enables the financial transactions between consumers and filmmakers, and converts between fiat currency and StreamShares and then back to fiat currency whenever the filmmaker elects to “cash out” transactions
* Community-focused front end for filmmakers to upload their products to StreamSpace’s environment, set prices, and analyze statistics about the popularity or reviews of their content
* Social media channels that link filmmakers to each other and to their audiences
Initial Coin Offering / Token crowdfunding campaigns for new film projects on behalf of filmmakers that are interested in this uncommon technique for raising the funds necessary for a small or mid-budget film project

The StreamSpace platform is the most progressive video marketplace in the world. The blockchain ledger enables instantaneous and transparent payment system in any combination of fiat and cryptocurrency to the filmmakers / copyright owners.

“Our goal is to become the world’s leading destination for innovative film content, with a deep catalog that will enable personalized viewing experiences and that will be rewarding for our core customers: creative, independent filmmakers and film aficionados,” said Robert Binning, StreamSpace’s CEO.

We invite you to join our community and help us transform the film industry in favor of the creative artists that make films and fans that seek out creative content.

Website
http://ift.tt/2u3h9g8

Contact
streamspaceinfo@gmail.com

Social Media Links
Twitter: https://twitter.com/streamspaceinfo
Reddit: http://ift.tt/2u3mPa4
Instagram: http://ift.tt/2vshP22
Medium: http://ift.tt/2u3mQuE
Facebook: http://ift.tt/2vsakbB

Related Video

Physical Location
919 Congress Street, Ste 400
Austin Texas 78701
+1 512 527-3034


This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: StreamSpace Announces ICO to support Innovative Film Distribution Platform appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2vbuqWU http://ift.tt/1L2dnrU

‘Bitcoin Regulation Act’ Introduced in South Korea Bans MLMs

with No Comments

'Bitcoin Regulation Act' Introduced in South Korea

Legislation outlining the regulatory framework for digital currencies including bitcoin in South Korea has been introduced by lawmaker Park Yong-jin. It defines digital currency, introduces five classifications of digital currency handlers, as well as specifies requirements and prohibited activities.

Also read: Korean Digital Currency Bill to Launch Shortly but Government Has Concerns

‘Bitcoin Regulation Act’ Introduced

'Bitcoin Regulation Act' Introduced in South Korea
Rep. Park Yongjin

Korean Democratic Party lawmaker Park Yong-jin announced last week that he has introduced an amendment for the Electronic Financial Transaction Act. Its main purpose is to create a regulatory framework for digital currencies in order to “maintain healthy market order and protect users,” Inews24 reported. Business Korea calls this amendment the “Bitcoin Regulation Act.”

“As interests in virtual currencies such as bitcoin and ethereum have soared,” Park said “there is no clear definition of virtual currencies or restrictions on those who can sell virtual currencies.” He first announced that he would introduce this legislation back in July. Business Korea wrote:

The Bitcoin Regulation Act is scheduled for a regular session of the National Assembly in September with a growing debate foreseen.

Definitions and Classifications

'Bitcoin Regulation Act' Introduced in South KoreaIn this amendment, virtual currency is defined as “an instrument of exchange or an electronic store of value,” reported Inews24. It also distinguishes virtual currency from “real” currency. The amendment proposes five classifications of digital currency handlers with the following definitions.

  • “Virtual currency traders” – those selling goods or services in exchange for digital currency.
  • “Virtual currency dealers” – those operating a market for the sale of virtual currencies such as exchanges.
  • “Virtual currency brokers” – those intermediating or arranging the sale of digital currency.
  • “Virtual currency issuers” – those offering systems to create and issue digital currencies, and
  • “Virtual currency managers” – those storing or managing digital currencies for others.

Requirements and Prohibited Activities

The revised legislation requires all digital currency handlers “to have 500 million won or more in capital and receive approval from the Financial Supervisory Commission,” detailed Business Korea.

'Bitcoin Regulation Act' Introduced in South KoreaThe amendment also mandates customer funds be deposited at a separate institution with insurance, or some form of payment guarantee in order to protect customers, the publication added.

The legislation prohibits several specific digital currency-related activities such as their sale and brokering through door-to-door and multi-level marketing schemes. It also strictly prohibits illegal acts involving digital currencies, such as market price manipulation and money laundering. Violations can carry a prison sentence of up to five years or a fine of up to 50 million won, Business Korea detailed.

What do you think of the proposed “Bitcoin Regulation Act”? Let us know in the comments section below.


Images courtesy of Shutterstock, Wikiwand, the Herald


Need to calculate your bitcoin holdings? Check our tools section.

The post ‘Bitcoin Regulation Act’ Introduced in South Korea Bans MLMs appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2wzPF2n http://ift.tt/1L2dnrU

Markets Update: Bitcoin Continues to Orbit Above $3K

with No Comments

Markets Update: Bitcoin Continues to Orbit Above $3K

Our last markets update revealed bitcoin’s price was extremely bullish, testing the US$2700-2800 range just before the blockchain split on August 1. Since then a whole lot has changed as the price per BTC has skyrocketed past the $3K zone and is currently hovering above $3200.

Also read: The Evolution of Cryptocurrency Visuals, Memes, and Bitcoin Street Art

Bitcoin Now Commands a $52 Billion Market Capitalization

The past seven days was an interesting, and a very unusual week for bitcoin investors and enthusiasts. On August 1 the Bitcoin blockchain split into two branches forming another network and token called bitcoin cash (BCH). At the time some bitcoiners assumed the price was going to drop heavily after the hard fork. However, the price did not budge at all as it continued to command a $2700 per BTC value following the split.

Markets Update: Bitcoin Continues to Orbit Above $3K

Three days later, on August 3, bitcoin bulls began to rally hard breaking the key $2800 resistance barrier. After this point, history was made on August 5 as bitcoin’s price continued to rise higher and higher. Bitcoin’s value surpassed the $3K zone to an all-time high of $3340 across global exchanges. The currency is swapping $1B worth of BTC trade volume per day and capturing a $52.6B market capitalization at the time of writing. It’s worth noting that before the BCH chain arrived, bitcoin’s dominance was above the fifty percent range, but now even though in the $3200 territory dominance it’s down to 47 percent.

Technical Indicators

Last week many traders believed a downtrend was coming due to the head and shoulders formation taking place just before the fork. However, bitcoin surprised these traders as the currency ascended higher and many futures traders who set ‘short’ positions before the fork likely got burned. At press time the 100 Simple Moving Average (SMA) is well above the long term 200 SMA indicating the bullish momentum should continue. In the short term, we will likely see some price consolation before climbing further. Both the stochastic and Relative Strength Index (RSI) show right now there may be some price oscillation for day trading entries. The 24-hour chart shows there should be some price action in the $2300 range as it will be a key resistance point. Moreover, there are sell wall mountains the size of Mt Everest at the $3500 level.

Markets Update: Bitcoin Continues to Orbit Above $3K

The Top Ten Cryptocurrency Markets                          

Ever since bitcoin smashed past the $3K price territory, nearly every other cryptocurrency market got a lift except for bitcoin cash. The newly formed bitcoin cash market struggled during its first few days and dropped to all time low of $200 per BCH. However, at press time and after some consolidation, the fourth highest valued bitcoin cash market has rebounded, and the token price is currently testing the $250 zone. The second most valued cryptocurrency market held by Ethereum is also doing very well, as one ETH has jumped to $260 after hovering just above the $200s.

Litecoin, the fifth highest valued market is down roughly three percent as one LTC is $45. The rest of the markets in the top ten are doing well this week with NEM ($0.25), Ethereum Classic ($15), Dash ($188), IOTA ($0.42), and the newcomer NEO at $14 per token.

The Verdict

Currently, bitcoin charts show there’s some profit taking happening right now and some healthy consolidation. Higher prices and new all time highs are possible as the one week, and shorter term charts still look bullish. Although, it is interesting to watch bitcoin’s (BTC) price go south when bitcoin cash (BCH) markets go north, as many speculators believe the opposite effect happened the other day. It’s too early to tell if these two markets will have any correlation with each other over the short and long term.

Bear Scenario: There is some heavy resistance above the $3300 territory at the time of writing. If sellers continue to hammer bitcoin’s price downwards, then a drop to the $3-3100 range could easily happen. Further, a dip under the $3K zone could also be in the cards if bulls start showing exhaustion. Some bulls are already showing signs of stepping off to the sidelines to catch some scalps and breaks. For those looking for some bearish profit-taking watch for consistent bottoms and the RSI going southbound.

Bull Scenario: A few key resistance points to watch will be the $3300-thru-$3500 zones. If bulls can muster up the strength to break these areas, then we could see some smooth sailing close to the $4K range. Fibonacci extensions show scaling to $4K is possible as full extension predicts a $3800-4000 span. At press time there seems to be a flag pattern forming which means we could see further movement after a combination of renewed energy and consolidation.

How do you envision bitcoin’s price movement going forward? Let us know in the comments below.


Images via pixabay, Bitcoin.com, Coinmarketcap.com, and Bitstamp. 


Need to calculate your bitcoin holdings? Check our tools section.

The post Markets Update: Bitcoin Continues to Orbit Above $3K appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2wlyNgu http://ift.tt/1L2dnrU

After FBI Takedown: BTC-e Exchange Reveals They Still Possess Databases and Wallets

with No Comments

BTC-e Exchange Reveals They Possess Databases and Wallets

According to a new post on the forum Bitcointalk, the now defunct BTC-e exchange says it has control over some its servers and bitcoin wallets. At the moment, operators of the trading platform detail they are evaluating the balances.

Also read: Segwit2x and the Tale of Three Bitcoins

BTC-e Reveals They Are Assessing Wallets and Balances

BTC-e Exchange Reveals They Possess Databases and WalletsOver the past few weeks, news.Bitcoin.com has reported on the BTC-e exchange and how it was seized by U.S. law enforcement. We further detailed how the operators of the exchange released a public message, describing the FBI takedown and the possibility of customers getting their money back. According to the message, some of the “purses” were taken by the FBI so there could be a portion of funds that will be unavailable to BTC-e traders.

On August 3 the trading platform’s operators left a message in Russian stating;

We were able to access our databases and purses [wallets], we are currently assessing the data and bitcoin balance sheets, this information will be made public before the end of next week.

BTC-e Exchange Reveals They Possess Databases and Wallets
The BTC-e trading platform’s latest update written in Russian.

Other Members of BTC-e Partner Businesses Arrested

The U.S. Justice Department and the Financial Crimes Enforcement Network (FinCEN), have seized the trading platform’s domain and claim the exchange has broken money transmission laws. Further, the indictment of the alleged BTC-e administrator, Alexander Vinnik, includes a $110M penalty against the BTC-e exchange for money laundering and illegal money transmission.

BTC-e has also mentioned in its latest public message that employees from a particular company called, Mayzus Financial Services Ltd, have also been arrested for being tied to the “money flow.”

Traders who kept money on the exchange who were not involved with illegal activities are not pleased with the U.S. government’s intervention. The message from BTC-e is a hopeful sign that some traders may get their funds back. At the time of writing U.S. law enforcement has not yet revealed how much money was confiscated from the exchange. If BTC-e reveals how much they have left, and how much the FBI seized next week, traders should get a better idea of the true extent of losses.

What do you think about the latest statement from BTC-e? Do you think they will return the money to customers? Let us know in the comments below.


Images via Shutterstock, BTC-e, and Bitcointalk.org.


Bitcoin is a decentralized digital currency that enables near-instant, low-cost payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network. Read all about it at wiki.Bitcoin.com.

The post After FBI Takedown: BTC-e Exchange Reveals They Still Possess Databases and Wallets appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2vCSYc6 http://ift.tt/1L2dnrU

PR: Crypto Users To Invest In Real Estate through REAL Platform

with No Comments

Crypto Users To Invest In Real Estate through REAL Platform

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

REAL, a Real estate crowdfunding company based in Singapore, announced the launch of its Token Sale, that will allow users to invest in real estate using their cryptocurrency.

The Real Estate Asset Ledger (REAL) team aims to disrupt the world of real estate by applying blockchain technology to an industry that is historically inefficient and illiquid. REAL uses Ethereum smart-contract governance to provide the best ecosystem for real estate investment.

They aim to eliminate intermediaries, improve transparency and liquidity, lower barriers to entry, and alleviate tax issues associated with cross-border transactions. REAL aims to generate rental income and value appreciation through worldwide real estate investment. By bringing together property owners and potential investors, the REAL platform will reduce friction in the real estate investment process.

Any amount of money can be contributed towards a real estate property. Anyone can exchange REAL tokens for economic rights to some piece of property (these economic rights are referred to as REAL Property Participation — RPP). Profits are paid back in Ether, and users can even trade/sell rights to those investments (RPPs) on the platform. Both a website and mobile application will be the home to view and invest in any property made available by the REAL team.
It is important to note that the REAL platform will take a 10% fee of all profits. If a property earns 1,000 Ether in rental income, the REAL platform will take 10% as commission for finding and hosting the property on their website.

Token Distribution Information
REAL tokens (Real Estate Asset Ledger) are ERC-20 tokens and will be distributed through a smart contract. The crowdsale address will be published by the REAL team. They will be distributed within seven days of the end of the crowdsale.

Pre-Sale Period
The pre-sale will begin on August 24, 2017 and last for 24 hours. It is only available for those looking to contribute more than 100 Ether.
There is a hard cap of 100,000 Ether during the pre-sale period.

Crowdsale Period
August 31, 2017 at 7 p.m. (UTC) through August 14, 2017 at 7 p.m. (UTC).
If the soft cap of 200,000 Ether is reached, the crowdsale will close within 36 hours of the soft cap being reached. There is a hard cap of 400,000 Ether and a total token supply of 100,000,000 REAL across the presale and crowdsale.

Team:

The current team has invested $350,000 into this project thus far. All together, the team have sold various startups.

Enrique Dubois, Co-Founder & CEO
Serial entrepreneur and Business Angel with over 15 years of experience. He has founded and sold for profit multiple online companies. He also co-founded a development company and a blog network. He is an advisor and judge for several estate-run startup programs like Startup Chile and Startup Peru.

Bernardo Hernández, Co-Founder & Director
Bernardo is a serial entrepreneur and venture capitalist. He cofounded Idealista and has held senior marketing and product positions at Google. In May 2013, he joined Yahoo as the Head of Flickr, which he ran until May 2015. In May 2011, he was appointed to the Jury of the Prince of Asturias Awards for Science and Technology. He has a master’s degree in finance from Boston College and holds the Chartered Financial Analyst (CFA) designation.

Press Contact Email Address
melissasapmaz@real.markets
Supporting Link
http://www.real.markets


This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Crypto Users To Invest In Real Estate through REAL Platform appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2vDQF9p http://ift.tt/1L2dnrU

Blockchain Data Reveals Someone Is Trying to Slow Down Bitcoin Cash

with No Comments

Blockchain Data Reveals Someone Is Trying to Slow Down Bitcoin Cash

It’s been five days since the fork, and the Bitcoin Cash (BCH/BCC) blockchain is still on the move as 85 blocks have been processed by miners so far. The 85th block was mined by the mining pool Bitclub, a newcomer to the BCH network. The BCH chain is moving a bit more consistently now, but mining profitability and the gaming of the currency’s mining difficulty continues to be a struggle for the newly born network.

Also read: Segwit2x and the Tale of Three Bitcoins

Bitcoin Cash Mining Difficulty Needs to Drop More, but Something Might Be Stopping It

At the time of writing the BCH network hashrate, is roughly around 300PH/s with blocks occurring roughly every 1-2 hours and some with longer intervals. Currently, there seems to be four pools now working on the BCH chain and the largest of them is unknown. Another pool which has joined in on mining BCH blocks is a pool known as Suprnova.cc, and the group is known for writing a pretty interesting coinbase messages. Suprnova also mines many other digital currencies like Zcash and is only pointing very little hashrate towards the BCH network. At press time Suprnova has only 0.25 PH/s dedicated to BCH and only eighteen workers.

Blockchain Data Says Someone Is Trying to Slow Down Bitcoin Cash
The Suprnova pool on Twitter.

The first BCH block took approximately five hours to complete and was followed by a block with a 12-hour interval in between it as well. On August 1 the BCH chain started with the same difficulty as BTC’s and the associated token was only worth $6-700 at that time. That means – unless resources like electricity are completely free – mining the BCH chain at that time was not profitable. At BTC’s difficulty, BCH would have needed to be around $2100 to be profitable.

Bitcoin Cash: The Conflict and Cooperation of Optimizing Agents

This is why there was an initial 12-hour wait to find the next block because miners who support the new chain want the difficulty to drop. The difficulty did eventually fall several times, but the price also dived into the low $200s as well making it 311% more profitable to mine on the BTC chain. The next difficulty drop should lock in soon and the Bitclub pool entry is showing more miners may be attracted to this chain. 

Bitcoin Cash: The Conflict and Cooperation of Optimizing Agents
24-hour BCH/USD charts according to Crypto Compare on August 5, 2017.

Game Theory: The Malicious and Honest Miner

Some people think a ‘malicious’ miner might be gaming the network, so further lowered difficulty adjustments don’t happen. A few people on forums noticed this happening as one person writes, “There’s a pattern I’m seeing, someone with quite a lot of hash power is ramping up and producing two blocks minutes apart every time the adjustment nearly triggers.” Another individual observes the same situation taking place,

I have been noticing the same pattern in real time. We almost reached twelve hours, Viabtc has no more than 25PH mining, last block took 339 minutes and BAM we get a thirteen minutes block. This is the third time it happens when we reach over 11.5 hours.

‘Honest’ miners have been slowing down or ‘pausing’ for twelve hour periods so they can lower the difficulty even more. Presently the BCH chain’s difficulty is 26 percent of the BTC legacy chain’s mining difficulty. The Bitcoin Cash protocol rules detail that in order for the difficulty to adjust down it utilizes Median Time Past (MTP) of the last block and the MTP of the 6 previous blocks has to be more than twelve hours for it to drop another 20%.

The gray region, “other,” has mined 69% of the BCH blocks and was mined by an unknown mining source. The new entry Bitclub now captures 1.18% of the BCH network. 

 The Unknown Miner Hashrate Commands Two-Thirds of the Entire Network

The malicious miner theory is entirely possible as these miners can use their hash power to produce a block between the paused intervals. This has caused people to speculate specifically on the unknown miner that has mined a majority of the blocks so far. It doesn’t seem to be the Hong Kong miner who was advertising his new cryptocurrency center at the start of the BCH chain.

Further, we know the Suprnova pool’s coinbase data said ‘fuckbitcoincash’ and the pool could also be ‘attack mining’, but it has very little strength compared to the unknown mining majority. If anything is stopping these longer block intervals that are intended to drop the difficulty, it’s most likely this anonymous miner.

What do you think about the Bitcoin Cash chain getting attacked by malicious miners? Do you think this theory is plausible? Let us know what you think in the comments below.


Images via Shutterstock, Twitter, Crypto Compare, and Coin Dance. 


Need to calculate your bitcoin holdings? Check our tools section.

The post Blockchain Data Reveals Someone Is Trying to Slow Down Bitcoin Cash appeared first on Bitcoin News.

from Bitcoin News http://ift.tt/2v9KBnH http://ift.tt/1L2dnrU

1 405 406 407 408 409 410 411 418