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One of the biggest responsibilities of cryptocurrency owners is safely storing their digital assets. Over the last few years, hardware wallets have become an extremely convenient security solution that has helped in this regard. The BC Vault is a new hardware device with a number of distinctive features.
The BC Vault Isn’t Like All the Rest
The BC Vault (short for Blockchain Vault) is a new hardware wallet that was designed by a Slovenia-based firm called Real Security Inc. Its creators believe that the BC Vault is “the safest way to store your cryptocurrencies,” refusing to even refer to the gadget as a wallet. “Wallets are for pocket money and vaults are for safekeeping,” Real Security asserts. The BC Vault costs $ 155 plus VAT for EU customers and the firm will ship to customers around the world. My BC Vault arrived this weekend in a box sealed with tamper-resistant holographic tape which I removed after inspection with a pocket knife.
Inside the box is a piece of paper that explains the BC Vault setup process and the device itself which sits in a foam enclosure. Under the device is a few stickers and a long USB cord to attach the BC Vault to a computer. One end of the cord is a traditional USB insert, but the other side of the cord that fits into the device itself is the new USB-C standard. The machine is similar in size to the Keepkey wallet but has a four-way control pad and a 2.42 inch OLED screen. The USB connection is also taped over with tamper-resistant tape which needs to be peeled off gently. The D-pad reminded me of an old Sega Genesis controller. The USB-C cord, as is customary with devices of this nature, needs to be inserted with a forceful push.
It was after plugging the BC Vault in that I observed just how different the device is compared to other hardware wallets. This is because the BC Vault generates each wallet with a random number generator (RNG) which uses an integrated gyro sensor. The process obliged me to shake the Vault for at least a minute and a half in order to begin the setup process. The scheme is similar to moving your mouse around or typing random keys in order to create a paper wallet. Essentially, the RNG mechanism inside the device created my private key after I’d shaken the device enough and from there I proceeded to the Vault’s quickstart guide.
The guide offers standalone software for Linux, Mac OS, and Windows. The application I downloaded for Mac OS was around 29.9 MB in size and the process took only took a minute. I was prompted to use my computer’s administrator password for the install and the software wound up taking around 62 MB of disk space. After launching the software, you will be asked to agree to an end-user license agreement.
Unlike the Trezor or Ledger, the BC Vault does not use an unencrypted BIP39/44 seed phrase, instead opting for a global password, PIN, and encrypted backup. In order to back up the funds, the device gives the option of saving encrypted wallet data on an SD card or backing up the encrypted wallet data by printing out a series of QR codes. Competitors use hierarchical deterministic wallets which means the funds and addresses can be traced back to the seed.
BC Vault claims it brings higher security to the table because the non-deterministic wallets on the device cannot be mathematically linked. While browsing the software I noticed I can add a variety of different digital currencies, with bitcoin core (BTC) available by default. BC Vault can hold BTC, BCH, ETH, DASH, XRP, LTX, XLM, DOGE, and a bunch of ERC20 tokens as well.
An Integrated Gyro Sensor, Random Key Generation, and Encrypted Backups Provide a Different Approach to Security
The BC Vault device I received was built well and the seed creation by shaking the RNG was an interesting experience. The product reminded me of a cross between Shapeshift’s Keepkey and the Swiss-made Digital Bitbox because of the SD card backup. Unlike the Bitbox, however, the BC Vault does not come with an SD card and you have to purchase one. The standalone software was also a nice change to having to use a Chrome extension.
Similarly to the Trezor model T and the Keepkey, I found that inserting the cord needs a forceful push. The BC Vault will actually make a clicking sound so you will know the device is securely connected. The wallet interface worked well and things like network fees can be customized. One issue I had found with the BC Vault is that it still uses legacy addresses for bitcoin cash (BCH). It would be nice if they added the Cashaddr format to make things less confusing for wallet sends.
The BC Vault is fairly intuitive to use and a beginner could master this wallet without much difficulty. Even though the device doesn’t use a mnemonic seed, users must remember to back up the encrypted key on an SD card or print out the QRs for recovery purposes. If the global password, PIN, and encrypted backups are lost, the funds held inside the BC Vault can never be retrieved.
Overall, the BC Vault, much like the simple Bitbox, offers cryptocurrency users something different and people may enjoy the alternative security aspects it incorporates. A built-in random number generator definitely sets the BC Vault apart from the rest of the hardware wallets on the market.
What do you think about the BC Vault? Let us know what you think about this device in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned company, software or any of its affiliates or services. Bitcoin.com or the author 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 this article. This editorial review is for informational purposes only.
Image credits: Jamie Redman, and BC Vault.
The post Review: BC Vault Is an Unorthodox Hardware Wallet With a Random Key Generator appeared first on Bitcoin News.
There’s a wide array of on- and offchain signals that can be used as indicators by cryptocurrency traders. When combined, they paint a detailed picture of the current state of the markets, and suggest which way they may move next. Token Analyst is a service that focuses on exchange inflows and outflows, in a bid to determine which way the money is moving.
Follow the Flow of Cryptocurrency
The cryptocurrency markets exist in a constant state of flux, which can make it hard to cut through the noise and identity the important trading signals. Token Analyst is a market monitoring tool that takes a different approach to the usual Coinmarketcap clones. Rather than focusing on digital asset prices, it’s more concerned with their onchain movements to and from major exchanges such as Binance, Bitfinex, and Bitstamp.
The platform reveals the net change in BTC and ETH over a 24-hour period for each platform, and also offers a subscription-based service for more serious traders interested in viewing real-time exchange inflows. The Hobbyist package is priced at $ 99 while the Pro package, at $ 499, includes more advanced features. For the casual and the curious, however, there’s plenty of information that can be sourced from Token Analyst without the need to spend a cent. This includes:
- BTC and ETH daily onchain volume
- Live feed of onchain transactions for major ERC20 tokens
- 24-hour transaction count for selected ERC20 tokens
- Significant whale transactions
This latter feature covers the BTC and ETH chains, comprising notification of transactions of $ 500K or more, with a blockchain explorer link provider for further scrutiny.
Token Analyst works well when combined with a pricing tool such as Bitcoin.com’s Markets, which provides real-time information on thousands of cryptocurrencies. Through comparing the movements of major digital assets onchain with the price moves that occur on exchanges, it’s possible to gain a fuller picture of the cryptoconomy and an insight into where the market may be headed next, be it up or down.
What other tracking sites do you use to gain a better understanding of the cryptocurrency markets? Let us know in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their 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 third party content, goods or services mentioned in this article.
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BitCash – a new cryptocurrency ecosystem developed by blockchain engineer and serial entrepreneur Christian Kassler – launched on 28 August 2018. Combining traditional fiat banking tools and stability in one, BitCash seeks to be the world’s most useable, and most used, cryptocurrency.
Today, cryptocurrencies face a litany of challenges that hinder mass adoption. From poor user experience to market volatility, cryptocurrencies have failed to induce widespread change. Many consumers and businesses question their value, considering them too complex or financially risky to use.
The team at Bitcash, however, wants to change that.
BitCash comprises two sister cryptocurrencies, BitCash (BITC) and BitCash Dollar (BITC$ ). Both offer the financial management and tracking tools offered by conventional banks, such as statements, description lines, and named accounts. The BitCash Dollar also provides stability through an algorithm that pegs its value to the USD. Together, they aim to make BitCash just as easy to use as fiat.
“Simplifying the user experience and stabilising value are key milestones on the road to mass adoption” argues core developer Christian Kassler.
Rather than replacing the fiat banking system completely, BitCash augments it. The BitCash team has combined the convenience and familiarity of fiat banking with the benefits of blockchain – something that cryptocurrencies, in general, have failed to deliver.
“If I want to buy cryptocurrency,” says Christian, “I have to pick from a confusing selection of wallets, navigate complicated exchanges, find sellers at the right price – and that’s before I’ve even bought anything. When I do buy, a fall in prices could leave me or a vendor I’ve paid out of pocket. And, if I want to manage my crypto finances, I have to maintain a spreadsheet of all my transactions. It’s a nightmare for users and even worse for businesses.”
From transaction descriptions to named accounts, recurring payments to monthly statements, BitCash includes many familiar features to reassure those used to fiat. But perhaps BitCash’s most revolutionary feature is BitCash Stable – the mechanism that pegs BitCash Dollar to the USD.
Market volatility has weakened optimism of cryptocurrencies ever replacing fiat. Prices fluctuate wildly, adding financial risk to every transaction. However, with BitCash Stable, the value of the BitCash Dollar is collateralised by the supply of BitCash. In other words, the supply of BitCash changes to maintain the BitCash Dollar at a 1:1 ratio with the USD.
“With BitCash Stable, you can protect the value of BitCash by converting it to BitCash Dollars right inside the wallet,” says Christian. “Since BitCash Dollars are a cryptocurrency, they’re free to move to anyone, anywhere in the world, for next to nothing. It dramatically cuts the time and cost of payments, remittances, and international money transfers – not even PayPal can do what we can do with BitCash Stable.”
Cryptocurrencies have a long way to go before reaching mass adoption. BitCash, however, with its focus on utility and customers, seems poised to lead the race.
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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.
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The French government has adopted a financial sector bill that establishes a legal framework for cryptocurrency service providers and initial coin offerings. The bill includes both optional and mandatory licensing, and also specifies the types of funds that can invest in crypto assets.
Pacte Bill Adopted
France’s Financial Markets Authority, the Autorité des marchés financiers (AMF), published on Monday details of the newly adopted bill which regulates the country’s crypto industry. The final text of the Action Plan for Business Growth and Transformation (Pacte) law was adopted on April 11 at its final reading by the French Parliament. It establishes a legal framework for digital asset service providers and initial coin offerings (ICOs), as well as strengthens the powers of the AMF as the regulator of the crypto industry.
The bill was launched on Oct. 23, 2017, and presented to the council of ministers on June 18 last year after consultation with 38 union organizations and professional federations. It contains “70 articles along with regulatory and non-regulatory mechanisms, and tax measures that will be incorporated into the 2019 Finance bill,” the AMF detailed.
Optional Licensing for Crypto Service Providers
The Pacte bill provides the option for digital asset service providers to be licensed and placed under the supervision of the AMF. These include crypto custodial services, brokers and dealers offering the “purchase or sale of digital assets against legal tender or other digital assets,” and crypto exchange operators. In addition, crypto services such as remittance, asset management, advisory, and underwriting are also included. While obtaining a license is optional, the AMF elaborated:
Whether or not they choose to obtain the optional license, service providers who wish to provide digital asset custody services to third parties or to purchase/sell digital assets in exchange for legal tender are subject to mandatory registration with the AMF.
Legal Framework for ICOs
Similarly, the bill provides the option for ICO issuers to apply for approval from the AMF if they meet certain requirements. For example, the issuer must be legally incorporated or registered in France and provide adequate information about the token, the project, and the company. There must also be a system to monitor and safeguard the assets collected during the sale as well as AML and CFT measures in place.
The AMF clarified that “Until now, fundraising through the issuance of tokens not classified as financial instruments was not subject to any specific rules,” noting:
The raising of funds without AMF approval will continue to be legal in France. However, issuers who have not received the approval of the AMF will not be able to solicit the general public … The AMF will publish the list of ICOs that have received its approval.
Funds That Can Invest in Cryptocurrency
The bill also specifies two types of funds that are permitted to invest in digital assets. They are “professional specialised investment funds provided that they comply with the liquidity and valuation rules applicable to them” and “professional private equity investment funds subject to a limit of 20% of their assets,” the AMF described. Neither is subject to authorization by the AMF but must be declared to the regulator within one month of their creation.
Increased AMF Oversight
The Pacte bill also strengthens the AMF’s regulatory powers, including overseeing approved ICOs and supervising licensed crypto service providers. The AMF may also publish a blacklist of those that do not comply with the regulations and may block access to fraudulent websites offering crypto services. Noting its authority to sanction any entities for lack of compliance, the regulator emphasized:
ICOs that do not have approval and unlicensed service providers will be prohibited from solicitation, patronage and sponsorship activities. Advertising will remain authorised.
France Wants EU to Adopt Its Framework
Following the adoption of the Pacte bill, France reportedly intends to urge the EU to adopt the same regulatory framework for cryptocurrency, Reuters reported Monday. The French Finance Minister Bruno Le Maire was quoted as saying:
I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience … Our model is the right one.
AMF Chairman Robert Ophèle commented on the new crypto regulation: “These are common sense rules. This regime will enable us to address this new issue with a proportionate framework that both protects investors and fosters innovation. We believe it will attract good projects.”
What do you think of France’s new regulatory framework for cryptocurrency? Let us know in the comments section below.
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The rise of Bitcoin has coincided with improvements in technology allowing anyone to trade online. Meanwhile, in landlocked Botswana, geographical constraints have done little to prevent BTC from being traded locally, even in the absence of an established locally-operated cryptocurrency exchange. News.Bitcoin.com spoke to a number of bitcoiners in the southern African nation to determine how they source their crypto and how much it costs.
Wallet-Based BTC Purchases
Bitcoin isn’t illegal in diamond-rich Botswana, but it’s not always easy to obtain. Often, Batswana, as the natives are known, buy their bitcoin on exchanges located outside the country or via in-wallet third party services. In extreme cases, they have had to physically cross the border into neighboring South Africa to buy some. Phillonah Shamukuni is still cutting her teeth in cryptocurrency, yet she is already considered a leader in Botswana’s niche bitcoin community. As an independent affiliate of a global compensation-based bitcoin investment company, the 21 year-old student of management accounting has helped organize several meet-ups for cryptocurrency enthusiasts in the country of 2.3 million people, hoping to spread adoption.
There’s a chance she will earn some bitcoin as payment from her endeavors. However, Shamukuni has relied on the Bitcoin.com wallet for direct BTC purchases, using pre-funded and globally accepted bank cards. She was devastated when third-party provider Simplex stopped servicing her country late last year “without any explanation.” This was likely on account of a change in the know-your-customer and anti-money laundering requirements by Simplex, which became stricter, excluding certain countries. Many Batswana were similarly affected, she said.
“One just needed to have enough information on the charges and how to go about their purchase [through in-wallet apps],” Shamukuni told news.Bitcoin.com. “As different platforms changed their policies, purchases on wallets using Simplex as a third-party seller were no longer supported and so purchases on the Bitcoin.com wallet ceased. It was a sudden and unexplained change. We had to find other ways to source BTC.”
One way involved purchases made through Slovakia-registered crypto exchange Coinmama. But the door soon slammed shut in the face of many of Botswana’s bitcoiners. “Different changes were also made and many times accounts were blocked due to unexplained reasons which made it inconvenient to buy from Coinmama,” lamented Shamukuni.
Peer-to-peer trades have become more common in recent months, according to Alakanani Itireleng, founder of Gaborone-based blockchain hub Satoshi Centre. But the cost of completing a transaction is off-putting to many people. “Most BTC transactions happening face-to-face come with a premium ranging from 5 to 15% [on the average global price],” Itireleng told news.Bitcoin.com.
Arbitrage in Africa
The issue of bitcoin pricing is a common problem in many parts of Africa. There just isn’t enough bitcoin to go around, resulting in too many people chasing too few bitcoins. As a consequence, it isn’t uncommon for those investors with access to U.S. dollars to buy BTC on exchanges outside the continent before offloading them on the local market for a profit. Zimbabwe perhaps exemplifies the extent of the arbitrage extreme; at one point, BTC sold at a premium of as much as 90% in the country.
The final selling price of bitcoin in parts of Africa, therefore, reflects a combination of several different factors. In Botswana’s case, it is worsened by the absence of a formal local trading platform, which might otherwise have helped stabilize prices. A bitcoin automated teller machine installed by Express Minds Ltd in the capital Gaborone in March has dramatically improved access to BTC, but it has also faced criticism over its 15% premium on purchases.
Itireleng observed: “Recently one company put up a bitcoin ATM, which some complain is a bit expensive.” She’s nevertheless rather optimistic about the future, predicting: “I think Botswana is growing in the use of bitcoin and I believe we will still see more bitcoin ATMs and exchanges setting up in the country as the environment is a bit friendly.”
Crossing the Rubicon
But for all their troubles, consumers in Botswana couldn’t have demonstrated greater loyalty to bitcoin as when they crossed the border into South Africa to buy the cryptocurrency. It is a journey fraught with risk, compelling travelers to choose their preferred crypto platforms or traders carefully, usually well in advance. “For a period of time you had to either travel to buy your bitcoin or send money to a trusted family member or friend in South Africa to make the purchase for you and send it to your wallet,” explained Phillonah Shamukuni.
Others now avoid the journey altogether, having instead opened accounts with South African-based exchange Altcointrader, which allows them to make fiat deposits in the South African rand and buy cryptocurrency online, according to the Satoshi Centre’s Itireleng. The Bank of Botswana governor Moses Pelaelo has questioned cryptocurrencies, saying that “since they were not regulated by a central bank [they] were impossible to transfer into actual pula [the local fiat unit].” The governor has not gone so far as to outlaw bitcoin’s use, however, leaving native adoption to continue growing at a steady pace.
What do you think about the pricing of bitcoin in Africa? Let us know in the comments section below.
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The post The Struggle to Buy Bitcoin in Crypto-Starved Botswana appeared first on Bitcoin News.
At the League of Legends World Championship Finals in South Korea last year, 100 million viewers tuned in to watch Invictus Gaming defeat Fnatic 3-0 and collect $ 2.4M in prize money. With its young, passionate and tech-savvy global audience, esports shares evident similarities with cryptocurrency. Not surprisingly, many predict great things for the twin industries whose future may lie intertwined.
The $ 1 Billion Nut to Crack
With a 33% compound annual growth rate, the $ 1 billion esports market is highly lucrative. Hundreds of millions of fans regularly watch their esports heroes battle it out in games such as DOTA, League of Legends, Halo, and FIFA at live streamed events whose prize money can run into the millions. To its global audience of digital natives, accustomed to having everything they covet on demand, esports is to entertainment what cryptocurrency is to cash: the natural order of things. Most esports fans are too young to recall the before time, when games were played offline and money was physical.
Already, there are signs of a blossoming bromance between the esports and cryptocurrency industries, with an inflow of investment fueling the projected wave of cryptocurrencies focused around esports and blockchain gaming. Esports team-building platform Dreamteam recently closed a $ 5M seed round with Mangrove Capital Partners and has secured partnerships with major industry players including last year’s League of Legends finalists Fnatic. David Waroquier, partner at Mangrove Capital Partners, told news.Bitcoin.com: “The massive growth in esports popularity mixed with the fact that gamers eagerly accept the newest types of technology is creating the perfect storm for blockchain. Using smart contracts for tournament winnings, player salaries and sponsorship money creates the fraud-proof environment esports needs in order to sustain its growth.”
Gaming and Cryptocurrency – the Perfect Pairing?
In addition to esports, the gaming industry at large has been aligning closely with the rails that run the cryptoconomy. Ripple turned heads last month when it was revealed to be the backer of a new $ 100M fund dedicated to blockchain-based games. “Gaming is a $ 140 billion global industry driven predominantly by digital microtransaction economies, which we believe will benefit immensely from the integrity and resilience of blockchain technology,” said Brett Seyler, the chief platform officer at Forte, the San Francisco-based startup that inked the deal with Ripple. As with esports, the similarities between gamers and cryptocurrency users are manifold.
Effective monetization is critical to sustaining video content creators, most of whom don’t boast the same numbers as the top esports professionals and Youtubers. Pewdiepie made headlines last week for joining live streaming platform Dlive, which accepts cryptocurrencies such as BCH and ETH for purchasing its native tokens. His actions have spawned an array of smaller creators to follow suit.
It remains to be seen whether crypto-friendly platforms such as Dlive last the course or prove to be little more than a flash in the pan. What’s less debatable is that the marriage of cryptocurrencies and gaming, in all its many forms, is inevitable. In case more evidence were needed, on April 15, $ 1 million puzzle game Satoshi’s Treasure launched, promising a bounty-laden bitcoin wallet whose keys have been divided into 1,000 fragments, spawning a global hunt for the prize pieces.
Do you think esports and gaming are prime industries for cryptocurrency adoption? Let us know in the comments section below.
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On April 15, Binance announced that the trading platform will be delisting bitcoin SV (BSV). The removal follows the tendentious actions of Craig Wright over the last few weeks in which the BSV creator has sent libel lawsuit warnings to well-known digital currency proponents. Since the announced delisting, the price of BSV has fallen by more than 13%.
Binance Plans to Delist BSV on April 22
Binance, the largest cryptocurrency exchange by volume, has decided to delist the BSV cryptocurrency. The news follows recent legal threats stemming from Craig Wright’s team of litigators who are demanding an apology from various prominent digital currency enthusiasts. The first person to receive a letter was an online persona known as Hodlonaut, the creator of the Lightning Torch. According to the letter, Hodlonaut called Wright a fraud and the team is expecting an apology or plans to sue for libel.
The letter claims Wright is Satoshi and that people who are calling him a fraud are participating in slander. Moreover, a Coingeek article details there is a $ 5,000 bounty for anyone who identifies Hodlonaut. Following this letter, and admission of these legal actions by BSV supporter Calvin Ayre and his publication Coingeek, lots of crypto proponents defended Hodlonaut. Then, on April 11, Binance founder Changpeng Zhao (CZ) tweeted that “Craig Wright is not Satoshi” and promised if there were any more lawsuit threats the exchange would delist BSV.
BSV Price Drops 13% Following the Announcement
Following the Hodlonaut incident, podcaster Peter McCormack was also sent a letter from Wright’s legal team. McCormack published his letter, which read similarly to Hodlonaut’s, including the same demand for an apology. The podcaster replied to Wright’s lawyers with a formal response and stated he hopes to resolve the issue “quickly and efficiently.”
However, McCormack refused to apologize and stated that he does not believe Wright is Satoshi. In addition to McCormack, it is rumored that a letter was sent to Ethereum’s inventor Vitalik Buterin as well. Then, on April 15, Binance published a blog post stating that it would be delisting BSV for various reasons. Following the announcement, BSV dropped by 13.4% in value to a low of $ 61.37 while most other digital assets have been seeing decent gains. Binance has decided to delist the coin based on the “level and quality of development activity” and “evidence [of] unethical/fraudulent conduct” among other reasons. Binance further stated:
Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following coin on 2019/04/22 at 10:00 AM UTC: Bitcoin SV.
For years now Wright has claimed he is the person behind the Satoshi Nakamoto moniker, an assertion he has emphasized more brazenly in multiple blog posts over the last few weeks. However, Wright’s claims and all of the proofs he has provided have been widely debunked on various occasions. After the BSV delisting announcement, CZ published a long thread of tweets describing why he thinks Wright is “a fraud.”
“The real Satoshi can digitally sign any message to prove it — This is as simple as breathing for him/her,” CZ noted. Meanwhile, the San Francisco exchange Kraken has asked the crypto community if they should delist BSV and Shapeshift CEO Erik Voorhees revealed that Shapeshift will follow Binance and delist BSV within 48 hours.
What do you think about Binance delisting BSV on April 22? Let us know what you think about this subject in the comments section below.
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The post BSV Falls 13% After Binance Reveals Plans to Delist the Coin appeared first on Bitcoin News.
Cryptocurrency markets have seen some slight gains in the last 48-hours, with the overall market capitalization of the entire digital asset economy comprising $ 174 billion as of April 15. Once again, bitcoin cash (BCH) is leading the pack this Monday with a 13% gain over the last 24 hours, outshining every coin in the top 20.
Many traders have been paying attention to bitcoin cash (BCH) markets over the last few weeks following BCH’s +115.67% spike of the last thirty days. Moreover, the decentralized cryptocurrency has continued to push forward week after week, with BCH leading the top 20 ranked crypto assets by 24-hour market performance.
The majority of the other top digital assets are also in the green seeing gains between 1-4.5%. Bitcoin core (BTC) is currently trading for $ 5,175 per coin and has gained 1.49% over the last day.
The second largest market valuation belongs to ethereum (ETH) this Monday, with each ETH is swapping for $ 166 per unit. ETH is up 1.3% today but over the last week, ethereum has lost 6.6%. Ripple (XRP) holds the third spot with each XRP trading for $ 0.32 per token. Lastly, fifth-ranked litecoin (LTC) has seen a 4% increase on the daily charts, however lost 7.5% last week.
Bitcoin Cash (BCH) Market Action
The fourth-largest market capitalization belongs to bitcoin cash at press time, with each BCH trading for $ 317. As mentioned above, BCH is the forerunner of the top 20 market caps and has gained 13% today. Over the last week, the price of bitcoin cash has gained 3.7%. $ 1.7 billion worth of BCH has swapped hands in the last 24 hours, with the 17.7 million circulating BCH equating to a market cap of approximately $ 5.6 billion at the time of writing.
Right now, bitcoin cash is the sixth most traded coin by global volume, ranking above XRP and below EOS. Tether (USDT) is dominating BCH pairs today, accounting for 52% of trade. BTC is the second-most dominant pairing, capturing 27.8% of volume, followed by USD (9%), KRW (5.7%), and JPY (2.1%). The top five exchanges by BCH trade volume include Hitbtc, Coinbene, Fcoin, Bitmart, and Binance.
BCH/USD Technical Indicators
Looking at the 4-hour chart, we can see a slight clawback in price after BCH touched a low of $ 275 on April 13. Beforehand, BCH managed to climb to $ 340 per coin, however, technical indicators had showed conditions to be extremely overbought. Today, the 4-hour a significant distance between the two Simple Moving Averages (SMA) can be identified, with the short term 100 SMA still above the long term 200 SMA. This indicates that the path toward the least resistance is still the upside. However, acceptance of the $ 275 range has shown that bulls have been tiring out and exhaustion could keep things from moving higher.
The Relative Strength Index today appears neutral today, however, the MACd, a momentum oscillator that subtracts the longer-term moving average from the shorter-term moving average, shows overbought conditions at press time. The Ichimoku Cloud (9, 26, 52, 26) baseline indicates the price may correct a hair in the short term. Order books show that current resistance for BCH rests above the $ 330 mark, and again at the $ 360 zone. On the backside, if bears manage to leverage the bulls exhaustion, they will encounter resistance at the $ 270 and $ 245 zones.
Many Coins Are Less Correlated with BTC in 2019
Despite the recent price gains posted across most crypto asset markets, the bullish moment has appeared to begin to taper lately. As mentioned above, the BCH MACd looks as if it will cross to the bearish region and spark a small sell off, with BTC, LTC, ETH, and other charts look producing similar formations amid waning trade volume.
So far, 2019 has produced less correlation between BTC and the cryptocurrency meta-trend than in 2018. Anthony Xie, founder of portfolio diversification tool, Hodlbot, recently published analysis arriving at this conclusion, stating:
We have a lot of evidence suggesting that the mean correlation coefficient between bitcoin and altcoins in 2019 is much lower than in 2018.
‘Magic Poop Cannon,’ a popular analyst who publishes on Trading View, tweeted on April 13 that he thinks BTC may be “setting up for a potentially nasty pullback,” indicating a sentiment of uncertainty among some traders despite the bullish price action of recent weeks.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
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The post Markets Update: Bitcoin Cash Leads the Pack With Double Digit Gains appeared first on Bitcoin News.
Proving ownership of copyrighted material through traditional means such as applying for a patent is expensive and involves third parties in most jurisdictions around the world. The Bitcoin.com Notary tool is an alternative that can do that at very little cost and without the need to reveal the information you want to protect.
Prove a Document’s Existence Without a Third Party
With the Bitcoin Cash Notary service users can create a timestamped proof of a document’s existence without trusted third parties. A cryptographic digest of the document, which can also be a photo or video file, is stored in the Bitcoin Cash (BCH) blockchain, linking it to the time of submission. The tool acts like a digital record book that facilitates the verification of documents at a later stage.
The Notary provides you with a trustless automated solution for backing up all kinds of important information. It allows you to prove its existence by comparing the blockchain entry to your actual document and also in case the official version goes missing. At the same time, the contents are never exposed or stored on the blockchain.
To accomplish this, all you need to do is add your file by dragging it into the browser or using the file selector on the tool’s page. Note that the file will not be uploaded to the Bitcoin.com server. Then you’ll be prompted to send a small amount of bitcoin cash (BCH) and fund your blockchain anchor. That will cost you only 0.00005 BCH or less than $ 0.02 at the time of writing.
You’ll be able to see your proof on the blockchain by checking the transaction in a block explorer. You can also use the tool to verify that a document has been notarized by clicking on the “Verify” tab and dragging the file into the browser window. If the document is found, the system will redirect you to its proof page.
What do you think about using the Bitcoin Cash blockchain as a trustless mechanism to prove ownership of information? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock.
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
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“Fuck” is the first word uttered in Crypto. It might also be yours after watching John Stalberg Jr’s claustrophobic movie about an anti-money laundering agent caught in a web of deceit, intrigue, and bad beer. Copious cryptocurrency references have no tangible impact on the plot, but serve as a running gag for bitcoiners intent on scrutinizing the movie for the slightest sign of inaccuracy.
Beau Knapp Makes Compliance Look Sexy
Just as the shark’s arrival is heralded by that seat-clenching “dun-duuun, dun duuuun” music in Jaws, you’ll have no trouble deducing the bad guys in Crypto. The blast of Russian opera music every time their white van appears saves you from having to think for yourself, which is exactly how we expect our Hollywood movies to be packaged. In Crypto, the music builds the tension rather than the tension building the tension, and the movie’s sins don’t end there. Yet for all its flaws, including a nonsensical plot, Crypto is a fast-paced thriller that simmers nicely before spilling over in a ferocious finale.
AML agent Marti, played by Beau Knapp, is the very personification of the New York Bitlicense. Lines such as “I demand a culture of complete compliance in my department” are prone to make the skin crawl for every bitcoiner watching. Marti gets booted from his big city job for being too good at compliance, whereupon instead of being appointed to the Ripple board, he finds himself exiled upstate to the small town where he was raised.
There, he discovers something has taken root, and it’s not dad’s (Kurt Russell) potatoes. With glamorous art gallery hostesses, sexy assistants, and Russian mobsters skulking about, upstate New York is more NY than NY itself. Upon arriving to find his father’s farm failing, Marti is all set on restructuring loans and bringing in silent partners to save the day. Kurt just wants him to grab a shovel. Metaphors for the gulf between old money and new are all over Crypto.
A Cornucopia of Cryptocurrency References
Five minutes into Crypto and you’ll be praying that goodie two-shoes Marti winds up on the wrong end of a Kalashnikov, such is his toe-curling obsession with doing everything by the book. Marti is so square that when bitcoin bro Earl (Jeremie Harris) who runs the liquor store tells him the beer’s on the house, he drops a 20 on the counter anyway. Naturally, Marti drinks Bud Light. He’s the sort of guy who’d show up at your party and then call the cops cos some people were smoking pot by the pool. Marti mercifully gets some of those square edges rubbed off him as the movie progresses, and it’s hard to find fault with Beau Knapp’s portrayal of the AML agent. In fact it’s hard to find fault with any of the acting in this movie, which is more than can be said for some of the plot points.
Everything has labels in Crypto. It’s like the whole film is an exposition, because the trouble with treating audiences to a movie about cryptocurrency and money laundering is that you have to explain things as you go. Thus we encounter Earl logging in to a cryptocurrency exchange named “Cryptocurrency Market,” in between dropping crypto bro lines such as “Hang on – time is of the essence. I’m getting in on this ICO!” The scene in which Earl explains to a woman how Bitcoin works is a particular highlight.
Early in the movie, Earl shills the hottest new ICO to Marti like it was a brand of potent crystal meth but Marti demurs, presumably because he hasn’t performed compliance checks on the company, and what if they haven’t filed a CTR exemption for those funds? You can tell Crypto was shot in the last throes of the 2018 bull market, incidentally, because XRP is still trading at 60 cents.
Don’t Think – Just Roll With It
It’s not a classic by any means, but there’s plenty to enjoy in Crypto. My nocoiner mate described it as a “really good film” that was “solid” which, if nothing else, suggests that appreciation of the movie doesn’t call for a grounding in cryptocurrency. As Crypto progresses, we learn that Omni bank, which Marti is dutifully investigating, secretly invested $ 10 million in cryptocurrency in the previous quarter. The significance of this is unclear, but judging by the ominous music, it’s clearly A Bad Thing.
“I’m not entirely satisfied with the way the DD was handled,” spits Marti, always a stickler for doing things by the book, even as the Russians begin circling and the body count rising. He’s a fast learner though, to give him credit: at the outset, Marti confesses to have only understood 5% of Earl’s ICO spiel; by the midpoint, he’s effortlessly dropping insights such as “My guess is they’re buying Bitcoin over the counter to avoid market slippage.”
Director John Stalberg Jr. captures the essence of a small town where everyone’s got a secret to hide, and as the movie nears its climax, there’s no denying that whatever the hell is happening, this is hella fun. It would be asking too much for a movie about compliance to end with anything other than an American three-letter agency riding in to save the day; the Russian mobsters never stood a chance against the barbed quills of Hollywood. Whether you read Crypto as an allegory for Bittrex’s struggle to obtain a Bitlicense, or a brainwashing exercise on why money laundering is bad is your call. Despite having very little to do with cryptocurrency, Crypto is compelling fare for bitcoiners. If only real life compliance was this fun.
Have you watched Crypto? If so, what are your thoughts on the movie? Let us know in the comments section below.
Images courtesy of Shutterstock.
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