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On June 4, Bitcoin.com is launching a peer-to-peer marketplace called Local.Bitcoin.com that will allow users from around the world to buy and sell bitcoin cash (BCH). Now crypto enthusiasts and traders can create a pre-launch account to explore the trading platform and create orders on the exchange in advance.
Local.Bitcoin.com: Creating a Pre-Launch Account and Experimenting With the P2P Marketplace
At Bitcoin.com we believe that the Bitcoin Cash (BCH) network will revolutionize the world of money and give global citizens the true taste of economic freedom. BCH is a decentralized system that allows anyone to transact in a permissionless fashion for less than a fraction of a U.S. penny in fees. In order to add more accessibility and liquidity to the BCH ecosystem, Bitcoin.com is launching the peer-to-peer marketplace Local.Bitcoin.com. The trading platform will allow individuals to purchase and sell bitcoin cash (BCH) either locally or internationally. This week we’ve decided to open pre-launch accounts so users can sign up and test the platform’s features.
To create a pre-launch account in readiness for the official peer-to-peer BCH marketplace to open, sign up here. You’ll be asked for a username and password and then informed that the web browser will generate a private key offline. The interface then encrypts it using AES256-CBC to a PBKDF2-stretched version of your password. This means that Bitcoin.com staff cannot access the wallet and you will need to keep your password secure. Due to the nature of client-side encryption, there is absolutely no way for Local.Bitcoin.com staff to recover a lost password. After the username and password are entered, the platform will send a confirmation email and then grant you access to the exchange dashboard.
Right now Local.Bitcoin.com will provide access to your profile settings, the BCH wallet which allows for sending and receiving, and the ability to create a sell offer. In the profile section, you can edit your username, add a blurb about yourself, change email, edit two-factor authentication settings, and add a mobile phone number. You can also begin by creating an offer and having it all set up for the official opening day on June 4, 2019. The interface will ask if you want to buy or sell BCH whereupon you can select the appropriate option. From here, Local.Bitcoin.com will request a display location, providing an array of local choices or the option to add a custom region. Then you simply choose a payment method from the various choices available. Payment methods for Local.Bitcoin.com include cash (in person trades), bank transfers, bank deposits, Paypal, Moneygram, international wire, Western Union, gift cards, Payeer, Venmo, Skrill, and Transferwise.
After choosing a payment method, you can select a local currency, so if you’re located in the U.S. you’ll probably be choosing USD. From here, you can set the exchange rate, which could be a ‘dynamic market price’ or a more complex ‘custom equation.’ With the ‘dynamic market price’ choice, you can pick a percentage margin above or below the market price of bitcoin cash. For example, you can set the price of 1 BCH and sell it for 2% less than the current market price. Or with the ‘custom equation’ setting, you can customize the exchange rate by pulling data from an array of well known exchanges. An example of this equation would be selling for the highest bid for 1 BCH on Coinbase or Kraken with a custom floor. After the price is set, Local.Bitcoin.com will then ask you to confirm the selling price and make sure the settings are acceptable.
A Custom Trading Experience, Blind Escrow System, Bulk Trades, and Finding the Best Margin
Following confirmation, you can then set a limit or a minimum trade size in your local fiat currency. You can also create an offer headline and write a few terms of the trade offer in any manner you desire. Traders can set the offer so anyone can trade with them or they can decide to deal with people who have verified their phone number. After selecting either anyone or just users with a verified mobile number, the platform will ask you to confirm all the terms of the trade. Everything previously selected will be shown above the confirmation tab and you can change any of the settings if there was a mistake along the way. After confirming that everything was correct, simply hit the yellow confirmation button and the offer will be located on the main trade board and the accountholder’s dashboard. You can view the offer, pause it, and edit the trade again even after it was submitted. In addition to this, all trades are safeguarded by our blind escrow, a system that allows for a secure trading environment.
Using Local.Bitcoin.com is a breeze and it takes only a few minutes to set up a trade offer. At Bitcoin.com, we’re thrilled to be able to give people the ability to buy and sell bitcoin cash which will, in turn, bolster the decentralized currency’s infrastructure. Moreover, the peer-to-peer marketplace allows people to trade with each other on a more personal level, rather than dealing with a cold third party exchange. Often times traders can purchase BCH cheaper using an over-the-counter market, which allows users to buy digital assets in bulk and find the best margins available. Unlike with large exchanges, users don’t have to share intimate personal details and traders can begin swapping BCH instantly. So if you are interested in a peer-to-peer platform that allows anyone in the world to buy and sell bitcoin cash, check out Local.Bitcoin.com today and create a pre-launch account now.
What do you think about the new peer-to-peer marketplace Local.Bitcoin.com? Let us know what you think about this subject in the comments section below.
Image credits: Local.Bitcoin.com, Jamie Redman, and Bitcoin.com.
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The idea of rolling back the clock on cryptocurrency transactions to reverse a situation people are unhappy with is highly contentious. As such, many were shocked to hear that a number of major players in the industry had even discussed a rollback of BTC following the Binance exchange hack.
CZ Admits to Considering BTC Reorg
The CEO of Binance, Changpeng Zhao, has revealed that he spoke with several people about pursuing a re-organization of the Bitcoin Core blockchain. One of those was Bitmain’s Jihan Wu, who CZ said educated him on why he cannot do this to BTC.
The primary reason CZ cited in favor of such an action would be to take revenge against hackers. Binance announced it suffered a major security breach on May 7, where hackers reportedly used a variety of attacking techniques, including phishing and viruses, to steal 7,000 BTC (worth over $ 40 million) with just one transaction.
— CZ Binance (@cz_binance) May 8, 2019
Proposal Provokes Negative Response Across the Board
This revelation caused a firestorm of comments, with reactions ranging from confusion to anger. Notable figures were shocked that the CEO of the most popular cryptocurrency exchange would consider such an approach, while others mocked him for even thinking that he had the power to make such a thing happen. CZ will not have been surprised by these negative reactions, as he mentioned that the possible downsides of a re-org would be to damage the credibility of BTC and cause a split in both the network and community.
Needless to say, had this rollback of BTC successfully taken place, it would have played into fears that what is supposed to be a decentralized system of immutable transactions is actually controlled by a handful of powerful people. The impact on the wider community, which has handled far greater crises than a $ 40 million hack over the years, would probably have been more devastating than the split of the Ethereum community with the creation of ETC under similar conditions, following the DAO hack.
This is #bitcoin not #shitcoin, we just dont reorg for personal conveniance or whatever, accept that loss, stop trying PR damage control, or whatever you trying to do, next time spend more time to improve your bitcoin’s wallet security and not listing every single shitcoins #rekt
— Saj le Great ⚡️ (@sajmathieu) May 8, 2019
For now it seems that the only casualty has been CZ, who has taken a hit to his credibility for suggesting a reorg, which may prove much more damaging to Binance in the long run than the stolen funds that were but a fraction of its massive holdings.
What’s important though is that the reorg was never gonna happen. It made no sense from the beginning and has been discussed for years. So I really don’t understand everyone who is now celebrating his decision to not do it. It was a calculated business move – that’s it.
— Larry Cermak (@lawmaster) May 8, 2019
What do you think about CZ considering a rollback of BTC as a possibility? Share your thoughts in the comments section below.
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Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.
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Decentralized exchange Bisq gets forked for bitcoin cash (BCH) and the r/BTC subreddit reaches 250,000 subscribers. In addition to learning about the latest developments, you can also take part in a new giveaway in this week’s video update from Bitcoin.com’s Youtube channel.
Special Giveaway in Bitcoin.com’s Weekly News Update
This week’s show covers the subreddit which was created to support free discussion of Bitcoin in the face of censorship in other forums, r/BTC, reaching a milestone of over 250,000 subscribers. This follows an interview with a former r/bitcoin moderator explaining how r/bitcoin became filled with censorship and manipulation.
In bitcoin cash development news, the show looks at how the decentralized exchange Bisq was forked to support BCH, the latest advancements with the Cashshuffle protocol which have already mixed millions of dollars worth of the cryptocurrency, and a new open source platform that uses smart contracts to allow users to auction SLP tokens for BCH.
As for the giveaway, Bitcoin.com is handing out tickets to the Malta AI & Blockchain Summit coming up later this month. Three lucky winners will get full access to the expo, workshops and all of the conferences, with the tickets valued at €799 each. Details on how you can enter the giveaway are outlined at the end of the show.
Make sure to subscribe to the Bitcoin.com Youtube channel and leave a comment on the latest video.
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Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.
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Two Bitcoin Cash (BCH) community members recently offered up a bounty for someone to fork the decentralized trading platform Bisq using BCH as the native currency. Now it seems a programmer has started the project in order to port Bisq over to BCH with help from BCH developer Pokkst’s Bitcoincashj implementation. The project is still in the midst of development but the platform works on Intellij and the programmer says Bitcoin Cash is very close to getting its own decentralized exchange.
This Developer Forked the Dex Bisq and Bitcoin Cash Will Be the Native Currency
Bitcoin Cash supporters were not pleased a few months ago when the Bisq exchange dropped support for BCH after the November blockchain split. Bisq is a noncustodial and decentralized exchange (DEX) that uses a multi-signature escrow system in order to execute settlement without the need for a third party. The DEX phenomenon has recently started to gain more attention after centralized exchanges continue to drop the ball and lose millions of dollars in cryptocurrencies. After the delisting of BCH on the Bisq DEX, two BCH community members on Reddit called u/ftrader and u/7e62ce852 offered up a bounty for someone to fork the Bisq protocol for use with BCH.
Following the two offers, many other BCH proponents put up sums of BCH to fund the bounty as well and there’s now close to $ 5,000 in bitcoin cash up for grabs. Since then, developer Emilio González from Mexico announced he has proceeded to fork the Bisq software and has used the anonymous developer Pokkst’s Bitcoincashj framework, a Java implementation of the Bitcoin cash protocol.
“The project uses Bitcoincashj and, well, that’s pretty much everything so far,” the programmer detailed on April 28. “I got school to attend and exams to take, so it’s been kinda slow, but the good news is that as of now ‘Bisq-Cash’ (re-branding maybe?) does work and we are much closer to get a dex of our own.”
The developer also noted that the forked project is currently hosted on the Bisq Github repository and located at the “cash” branch. In a few days, after exams, the programmer intends to change the price nodes to BCH instead of BTC, alongside adding the Cashaddr address format instead of legacy addresses. The developer Pokkst explained that it was great to see his Bitcoincashj fork being used in the wild and offered to help the DEX development move forward while the creator was busy with exams. The community member u/ftrader, who originally offered a large sum of the bounty money, said it was great to see some progress with the fork. He also suggested that the developer change the name from Bisq to something else and said it would be “a good idea to raise an r/btc post to brainstorm some good new name for the project eventually.”
BCH Supporters Hope for Cashshuffle Support
The developer of the original Bisq application, Manfred Karrer, also asked the programmer of the fork to change the name so it won’t “cause confusion to users.” Another BCH user said that he believed Bisq was the only fiat-to-crypto DEX he knew of and noted that “it’s worth porting.” “With Bisq you usually pay a premium when you buy bitcoin, and BTC fees make it worse — BCH low fees plus Cashshuffle would make Bisq better,” they added. Other BCH supporters tipped the developer small fractions of BCH using the Tippr bot after he announced the forked protocol was ported to BCH.
A flurry of Bitcoin Cash development continues and the latest Bisq fork announcement is just one of many on the horizon. Cashshuffle is one of those developments, an application that was recently launched via the Electron Cash wallet and will soon be implemented on other light wallets. With the Cashshuffle project being at the forefront of people’s minds, some BCH supporters commenting on the Bisq fork announcement thread asked the programmer to implement Cashshuffle into the platform. They believe adding an extra layer of privacy to the application like Cashshuffle would be a positive step. “This use case begs for mandatory Cashshuffle, thankfully BCH makes this completely affordable — a couple of cents for anonymity on a DEX seems like a no-brainer,” another commenter remarked. Overall, most of the BCH proponents who commented on the subject seemed delighted to see the DEX forked for the Bitcoin Cash network.
What do you think about the Bisq DEX being forked for the BCH protocol? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Pixabay, Reddit, and Github.
Did you know Bitcoin.com will soon be launching a peer-to-peer trading platform called Local Bitcoin Cash? The service will allow for direct exchange with people trading BCH all around the world. At Bitcoin.com we’re excited and it’s coming soon! If you want to stay notified for when the hottest new trading platform launches – Sign up here today!
The post A Bitcoin Cash Fork of Decentralized Exchange Bisq Is on the Horizon appeared first on Bitcoin News.
New York’s top cop said operators of one the world’s biggest cryptocurrency exchanges and digital coins engaged in a cover-up to hide the “apparent loss” of $ 850 million of comingled client and corporate funds.
The accusations announced Thursday against iFinex Inc., which runs the Bitfinex trading…
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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Whatever your feelings on initial exchange offerings (IEOs), there’s been no avoiding them this year. Nurtured under the wing of cryptocurrency exchanges before being unleashed onto liquid secondary markets, many tokens have mooned, while a few have fizzled out like damp squibs. To gauge the current market sentiment toward IEOs, news.Bitcoin.com has calculated the return on investment (ROI) for the first wave of initial exchange offerings.
A Breakdown of 2019’s Leading IEOs
When it comes to fundraising, there’s only been one acronym on everyone’s lips this year and it hasn’t been “STO.” Rather, the cryptoconomy has fixated on the IEO, which has become the talk of Telegram trading groups, crypto Twitter, subreddits, image boards, and every other hub for digital asset discussion. As Priority Token’s Artur Boytsov points out, the first IEOs actually took place in 2017 with the likes of Bread and Gifto, but the trend didn’t really catch on until the beginning of 2019. He notes “at least 15 exchanges which have either started supporting IEOs or announced that they are developing an IEO concept.”
Platforms such as Binance, Kucoin, Huobi, and ZBG have become synonymous with hosting initial exchange offerings, though participating platforms are proliferating so fast it’s impossible to list them all. Having analyzed the performance of the first wave of IEOs, news.Bitcoin.com can provide detailed figures regarding the ROI and all-time high (ATH) of 10 of this year’s most popular initial exchange offerings. The results show significant variance between exchanges in terms of the profit realized by investors.
ZGB Launchpad and Binance Launchpad Lead the Charge
Because IEOs are still a relatively new phenomenon, the number of completed token sales per exchange is low. As a result, it is too early to draw any definitive conclusions, although two exchanges have established an early lead: ZGB and Binance boast the first and second most successful IEOs to date respectively, with the former also claiming the number four spot. At the time of publication, kamari (KAM), which was issued on ZGB Launchpad, has performed a 7x in USD terms, followed by Binance’s bittorrent (BTT) at 6.4x. In third place is the Huobi Prime-issued TOP (5.4x), followed by Global Trading System (5.3x), again on ZGB.
While the majority of these first-gen IEOs are currently in the green, some exchanges have gotten off to an inauspicious start. Bittrex International had to cancel its first IEO, for Raid, at the last minute after concerns emerged about the legitimacy of the project’s partnerships. Its second token sale, for Veriblock, sold out in just 10 seconds, but investors who managed to snap up VBK tokens have come to rue their seeming good fortune: it’s currently the only IEO profiled here to be underwater, with an ROI of just 0.83x. Be it through luck or judicious vetting of projects, some exchanges have produced a string of winners, while a handful have yet to strike gold.
What are your thoughts on initial exchange offerings? Let us know in the comments section below.
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Major American cryptocurrency exchange Coinbase has launched Coinbase Card, that enables its United Kingdom-based customers to pay in-store and online with cryptocurrency. The Coinbase Card is a Visa debit card powered by customers’ Coinbase account crypto balances, which allows them to make purchases with digital currencies worldwide. Coinbase instantly converts customers’ cryptocurrency funds into fiat currency in order to complete the purchase.
This is a press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
Switch.ag is a new kind of token exchange. Switch not only gives users the ability to seamlessly “switch” between other assets, but you can buy gift cards, donate to non profits, gamble & more.
As an extension of the Switch brand, the team recently released SwitchDex.ag, a fully decentralized exchange that runs on the Ethereum blockchain.
The release of SwitchDex has seen support among many prominent people in the crypto space, including John McAfee. In a recently release video John said, “the most amazing decentralized exchange in terms of speed and utility is SwitchDex”.
The CEO of Switch, Josh Case said, “We want to have the lowest fees, and the best trading environment on SwitchDex. We are really “pro trader”, and want to develop the tools, and features traders need to be successful.”
There are no fees to list a token on SwithDex, no restrictions on trading limits, no restrictions on jurisdictions, and no user information is collected.
SwitchDex charges a .2% taker fee. There are no other platform fees.
SwitchDex offers users a one time flat fee amount to remove this platform fee forever. From April 1st through April 30th this fee is $ 20. This fee will increase $ 10 monthly, and will top out at $ 100 in December 2019.
100% of all fees collected by SwitchDex (trading fees + whitelist fees) are airdropped to ESH & SDEX token holders.
* 50% are airdropped to ESH holders, the native token of Switch.ag
* 50% are airdropped to SDEX holders, the native token of SwitchDex.ag
For more information about Switch and SwitchDex you can visit or websites or email us at firstname.lastname@example.org
This is a 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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Estonia-based Bibox exchange is to launch bitcoin cash (BCH) and litecoin (LTC) perpetual trading contracts on April 12, with leverage of up to 50x. Priced in tether (USDT) – the US dollar-pegged stablecoin – the cryptocurrency derivatives are targeted at both institutional and retail investors.
Perpetuals With No Funding Rate
Unlike futures, perpetuals do not expire, meaning they are often viewed as a better hedge against price drops. However, both contracts represent an agreement to purchase an asset, in this case BCH, at a pre-determined price.
Bihui Lin, spokeswoman for Bibox, told news.Bitcoin.com that the contracts do not have a funding rate, meaning less cost for those involved in the trade. Normally, for contracts trading, investors have to pay the funding rate every eight hours depending on market conditions – sometimes it’s received or paid by users on long positions to those who are short and vice-versa.
“The roll-out of perpetual contract is not only a significant step forward for Bibox’s ecological layout, but also a promise that we will continue creating a transparent, secure and user-friendly trading environment for our users,” Lin said in an interview. “Also, during the bear market, derivatives are a good investment tool as an alternative for users,” she added.
Currently, Bibox has perpetuals open for BTC, ETH, and EOS, all paired against tether. In the last 24 hours, trading volume for the exchange’s contracts amounted to 459 million USDT. According to Lin, the bitcoin cash contracts will be bought or sold based on the weighted-average spot price of five crypto exchanges, namely Bibox, Binance, Bitfinex, Huobi, and Okex.
Crypto Derivatives Market Growing
On trading the contracts against tether, Lin explained that Bibox considered the stablecoin as the most liquid and highest volume asset in the market at the moment. “Using USDT as margin – it’s more transparent and simple for users, and easy to calculate the profit and loss,” she stated.
Derivatives, such as tradable indices and futures, are considered by some as useful for hedging as well as for leveraging trading profits. A growing number of companies have started (or are planning) to offer digital currency derivatives to both institutional and individual investors, as the industry continues to grow.
Exchanges such as Intercontinental Exchange Inc., which owns the New York Stock Exchange, and Chicago-based Eris Exchange, have revealed plans to introduce physically delivered futures for BTC following in the footsteps on Coinflex, which has already done so.
Bibox is an Estonia-based crypto exchange with operation centers in the U.S., Switzerland, Canada, China, South Korea, Japan, Singapore, and Vietnam.
What do you think about cryptocurrency derivatives? Let us know in the comments section below.
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