Ethereum Price Watch – ETH/USD Breaks Above Resistance, Soars Past $900

Ethereum Price Watch

Key Highlights:

ETH broke above a major resistance of $850 today, soaring past $900
Further gains are expected in the short run
Another major bullish trend has been established

ETH Soars Past $900, Further Gains Expected

On Wednesday, ETH broke above its previous resistance at $850 and soared past $900, reaching as high as $918 earlier in the day. This marks the second time in a week that it managed to break through the $900 level, but this time it seems like further gains are ahead rather than another reversal.

During the …

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Citibank India Bans Crypto Purchases on Both Credit and Debit Cards

Citibank India is the latest lender to tighten the squeeze on cryptocurrencies. In an e-mail Tuesday, February 13th, the bank said it has barred customers from using Citibank debit or credit cards to buy virtual currencies. Citibank isn’t alone. Other international financial institutions like Lloyds, JP Morgan Chase & Co, and Bank of America, have also barred customers from using bank-issued credit cards to buy virtual currencies.

In the U.S., Citibank has forbidden customers from borrowing money on credit cards for such purchases — but Citibank India has gone further with this ban on virtual currency-related transactions even on debit cards. According to inside sources, the rationale behind the move was to shielding card-holders from possible fraud. As of December 2017, there were 2.63 million Citibank debit card and 1.61 million credit card customers, Reserve Bank of India (RBI) data showed.

“Given concerns, both globally and locally, including from the Reserve Bank of India, cautioning members of the public regarding the potential economic, financial, operational, legal, customer protection, and security-related risks associated in dealing with bitcoins, cryptocurrencies, and virtual currencies, Citi India has decided to not permit usage of its credit and debit cards towards purchase or trading of such bitcoins, cryptocurrencies and virtual currencies,” the email sent to customers read.

Recently Indian finance minister Arun Jaitley stated that the government does not consider cryptocurrency legal tender and that it will take all measures to eliminate its use. And with the central bank also issuing cautionary statements, it’s possible other Indian banks will follow Citibank’s lead, according to VG Kannan, CEO of the Indian Banks’ Association, an industry body that represents Indian lenders. “It [the government notice] does seem like a warning. Therefore, no bank would like to deal with this kind of transactions, and they also want to discourage customers from it,” Kannan said.

India’s cryptocurrency industry has been quick to play down Citibank’s move. Seven Indian exchanges have banded together to create a central repository to maintain a real-time database of traders in a bid at self-regulation, and they have responded: 

Most purchases are done through internet exchanges not using credit or debit cards”

said Ajeet Khurana, head of the Blockchain and Cryptocurrency Committee, an industry lobby. But other observers are concerned. “Even if banks were to justify this as necessary to mitigate their risk, I would find such a view to be very conservative and unjustifiable, which leads me to think that this is arm-twisting,” said Anirudh Rastogi, managing partner at law firm TRA, which represents several cryptocurrency businesses.

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Sp8de: The First Blockchain-Based Casino ICO with Jackpot Rounds

Have you ever walked into a casino, only to walk out frustrated, feeling that you got cheated? Have you ever wanted to gamble at the convenience of your own home, without having to interact with people? Sp8de might be the answer for you.


Sp8de – Casino on Cardano

Similar to many new ICOs and blockchain projects, Sp8de aims to utilize the power of blockchain and cryptocurrency to revolutionize a specific market; in this case, casinos and gambling. However, unlike many other ICOs, Sp8de isn’t based on Ethereum. Instead, it will be based on Cardano, which, at time of writing, is the 5th largest cryptocurrency by market cap.

According to Sp8de, Cardano was chosen over other proof-of-work cryptocurrencies (e.g. Bitcoin or Ethereum) because they believe that POW coins cannot scale transaction-wise. For them, proof-of-stake is a much better option.

Ouroboros, the underlying proof-of-stake protocol beneath the Cardano blockchain, relies on generating unbiased entropy. This is extremely useful for projects like Sp8de – gambling platforms can use these randomly-generated numbers to ensure that their games are provably fair.

Sp8de is a protocol and a blockchain-based platform with features that are tailored for the growing blockchain gambling industry. Sp8de will be built on top of Ouroboros, which will equip it with the ability to generate fresh unbiased randomness for casino games. The transparent nature of the blockchain will also allow it to provide provably fair and completely decentralized games.

Initial Coin Offering – with Jackpots!

Sp8de has just concluded its presale last week, on February 8th. The ICO is divided into five stages: the pre-sale and four sale rounds, with each round having a different number of tokens available, different price per token, different likelihood of winning the lot that each token brings to its owner, and the number of lots reserved for participants.

Sp8de ICO Jackpots

Every Jackpot is essentially an airdrop of tokens. Every token sold during a sale preceding a jackpot will have a chance of winning a jackpot during the subsequent jackpot phases. This means that early participants will have a chance to win in multiple jackpot rounds. Participants of the 4th sale phase will only get one shot at winning the last jackpot.

Each jackpot will consist of a large sum of SPX tokens that will be awarded to a winner. Each jackpot phase will have multiple lots of prizes:

  • Jackpot I: 10 Jackpots each of 28,888,888.80 SPX. A total of 288,888,888 SPX on February 15, 2018, 9:00 AM UTC
  • Jackpot II: 28 Jackpots each of 13,888,888.86 SPX. A total of 388,888,888 SPX on February 23, 2018, 9:00 AM UTC
  • Jackpot III: 100 Jackpots each of 8,888,888.88 SPX. A total of 888,888,888 SPX on March 3, 2018, 9:00 AM UTC
  • Jackpot IV: 888 Jackpots each of 2,127,127.13 SPX. A total of 1,888,888,888 SPX on March 11, 2018, 9:00 AM UTC

To ensure that everybody gets the same shot at winning and no one is luckier than others, tokens won from a jackpot will not increase one’s chances of winning in a subsequent round.

Sp8de ICO and Jackpot Rounds

Not all tokens are created equal – tokens sold in the same phase can have different multipliers attached to its probability of winning the jackpot. A more detailed mathematical explanation is available in the Sp8de Whitepaper. Unsold tokens will be partially allocated to the jackpots and to the Sp8de Foundation, which will use them for further development and promotion of the project.

For more information about Sp8de, please visit sp8de.com.

What are your thoughts on Sp8de’s platform and unique ICO? Is Cardano a better blockchain choice than Ethereum? Let us know what you think in the comments below.


Images courtesy of Sp8de

The post Sp8de: The First Blockchain-Based Casino ICO with Jackpot Rounds appeared first on Bitcoinist.com.

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Cryptocurrency Mining Will Leave Iceland Without Power

Iceland

Iceland has become the premier hotspot for cryptocurrency mining, more specifically Bitcoin, and the countries officials are now in a panic. With its cool temperatures, it makes it the perfect location to keep these hot data mining centers cool, without the need for extra air conditioning. While Bitcoin’s price has been on the decline within’ the past few months many companies have seen the island as the holy grail to mine the remaining digital tokens. They are equating it as the 21st century ‘gold rush’ as many companies have flooded the country in hopes of starting their own …

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Deep Divisions Over Litecoin Cash Fork

When cryptocurrencies fork, their blockchains are not the only things that divide. As was witnessed when Bitcoin Cash forked from the original, the community and developers were also split and still are. A similar thing is occurring with Litecoin and an impending fork is due that its creators are claiming is a scam, and nothing to do with them.

Litecoin founder Charlie Lee has been extremely active lately posting warnings on social media about a forked version that he does not support. Lee’s public outcry comes as a fork for a competing crypto dubbed Litecoin Cash draws nearer.

Forking free-for-all

There is currently nothing to stop anyone making their own cryptocurrency or forking off from an existing blockchain. Countless new iterations of Bitcoin have emerged in the past few months from GOD to DARK. People can get scammed if they don’t do their own research and blindly follow the streams of dross that pollute social media platforms. Governments are anxious to regulate the industry to prevent these sorts of things from happening.

On the surface Litecoin Cash appears to be just another one of these, riding on the name to garner interest. It comes with a plan to increase the block time, enable SHA256 mining, and offer 90% cheaper transaction fees than its parent altcoin. The fork will happen at block 1371111, which is around February 18 or 19. Charlie Lee and the Litecoin team however want nothing to do with it;

Cash with a catch

To win over investors and traders the forkers are offering free LCC tokens for LTC holders at a ratio of ten to one. This is the common method of drumming up support for a newly forked crypto coin. The problem is that to receive the free loot a private key has to be imported to a new Litecoin Cash wallet from an existing Litecoin wallet. This is a very insecure and un-recommended method which has raised the scam flags amongst the Litecoin community.

Additionally the Litecoin Cash team has yet to release a white paper and have not provided a safe way to collect the tokens. At the time of writing it is also unclear whether exchanges will support LCC or dish out the free bounty to LTC holders when the fork occurs.

Michael “Scarlet” Wyszynski, one of the LCC developers told Business Insider;

“As to the name, it’s strictly a product of convention. No confusion is intended, but it has simply become customary for a new coin arising from a fork to use the forked coin’s name as a prefix to its own,”

Either way, Litecoin has reacted to the fork and has finally woken from an almost two month downtrend to trade 24% higher today and head back towards $200.

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JPMorgan Proclaims Bitcoin ETFs Are the ‘Holy Grail’

JPMorgan now recognizes the fantastic potential that a Bitcoin-based ETF can offer. When communicating with its clients about the multiple benefits of such a financial product, the megabank refers to it as the “holy grail for owners and investors.” This proclamation occurs when the total cryptocurrency market cap surpasses JPMorgan’s.


The Many Benefits of Bitcoin ETFs

The Many Benefits of Bitcoin ETFs

Business Insider reports that on February 9, 2018, JPMorgan informed its clients of the benefits that Bitcoin ETFs would bring, underlining the following:

  • Easier access: “Investors need wallets to trade the physical Bitcoins today, making it hard to access. ETFs are frequently traded and highly accessible via investors’ brokerage accounts.”
  • Liquid market: “ETFs are actively traded and highly transparent.”
  • High integrity: “ETFs are traded through brokerage accounts that carry with them insurance via SIPC. Bitcoin exchanges have no such insurance and expose holders to potential fraud and theft.”

JPMorgan officials also stated that a Bitcoin ETF “could have a transformational impact on the cryptocurrency.” To emphasize this point, JPMorgan likened it to the financial market impact of the first gold-based ETF.

Cryptocurrencies As Key to Portfolio Diversification

The JPMorgan report entitled “Decrypting Cryptocurrencies: Technology, Applications and Challenges,” dated February 2018, shows how the bank’s understanding of the cryptocurrency market has evolved.

For example, the report views cryptocurrencies as keys that can help customers diversify their portfolios.

Although migration to Bitcoin futures exchanges is a recent phenomenon, it has increased the legitimacy and credibility of such products. In fact, JPMorgan believes, Bitcoin-based futures exchange trading could help drive the SEC’s approval for Bitcoin ETFs.

The launch of Cboe Bitcoin futures in December 2017 elevated the digital currency into the circle of mainstream finance, and many believe, it set the stage for the launch of Bitcoin ETFs. As a result, many financial institutions are now seeking the SEC’s approval to launch Bitcoin ETFs.

Cryptocurrencies As Key to Portfolio Diversification

As of this writing, the total market cap for cryptocurrency is over $418 billion, surpassing the market cap of JPMorgan Chase.

Cryptocurrency enthusiasts hope that once banks understand the incredible opportunities that Bitcoin offers, they will stop banning the use of their credit cards for cryptocurrency purchases and will abandon other similarly unfair practices.

If banks can be persuaded to cease their hostilities toward cryptocurrencies, this would help in obtaining the SEC’s approval for Bitcoin ETFs. If the SEC allows any Bitcoin ETFs, many financial experts believe that interest from retail and institutional investors and their billions of dollars could propel Bitcoin’s value to amazing highs.

What do you think about the potential impact of the SEC’s approval of Bitcoin-related ETFs? Let us know in the comments below.


Images courtesy JPMorgan, Bloomberg, Thesupermat/Wikimedia Commons

The post JPMorgan Proclaims Bitcoin ETFs Are the ‘Holy Grail’ appeared first on Bitcoinist.com.

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European Central Bank: It’s Not Our Job to Regulate Bitcoin

Regulate Bitcoin

The man has spoken. On Tuesday, the president of the European Central Bank joined the conversation regarding cryptocurrency regulation. More specifically, the ECB president discussed the bank’s viewpoint on whose responsibility it is to regulate bitcoin. Unfortunately, it might not have been what people were hoping to hear from the former Italian central banker.

What Happened Tuesday?

Mario Draghi said today that it is not the European Central Bank’s responsibility to regulate bitcoin or other forms of cryptocurrency. This comment is significant as it comes at a time when more and more authorities are …

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CryptoUK: Seven Crypto Companies Form UK Cryptocurrency Trading Body

Seven of the largest crypto companies are forming a UK cryptocurrency trade body named CryptoUK, bringing the first self-regulation to the booming industry. This news comes just days after Brian Quintenz, a commissioner with the U.S. Commodity Futures Trading Commission, advised the crypto industry to form such a group to help regulate itself.

CryptoUK, with members including exchange and trading platforms such as Coinbase, eToro and CryptoCompare, said it had produced the first code of conduct for the industry to abide by. The companies said they hoped the regulations would form the first part of broader UK rules around volatile cryptocurrency trading. CryptoUK chair Iqbal Gandham said there was a risk of “rogue operators,” but the new body had been established “to promote best practice and to work with government and regulators.”

Members are expected to sign up to a code of conduct, which CryptoUK said will ensure greater due diligence against illegal activities and ensure customer funds can pay out in the event of insolvency, as well as safeguards against hacking of customer accounts. Mr. Gandham added: “We hope it [the code of conduct] can form the blueprint for what a future regulatory framework will look like.”

The group said the new body did not include Initial Coin Offerings, or ICOs, which see investors buying digital tokens in startups, often with no guarantees for their investment. It is also seeking buy-in from the government and official regulators such as the Financial Conduct Authority.

CryptoUK includes Coinbase, one of the largest cryptocurrency exchanges with more than 1 million account holders worldwide. Coinbase UK chief executive Zeeshan Feroz said: “The fundamentals are engaging as a single industry with the government. Regulation is imminent and that’s a good thing.” The trade body will also include cryptocurrency companies BlockEx, CEX.IO, CoinShares, and CommerceBlock.

Both the UK government and EU regulators have threatened to crack down on cryptocurrencies, with the EU issuing stark warnings that investors are at risk of a Bitcoin bubble.

This past Monday, the European Supervising Authorities — which includes top banking, securities, insurance, and pensions watchdogs — issued a warning to cryptocurrency investors that they could lose all their money if Bitcoin enters a pricing bubble: “[Cryptocurrencies] are highly risky, generally not backed by any tangible assets and unregulated under EU law, and do not, therefore, offer any legal protection to consumers,” the agency said in a statement. 

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WELL Telemedicine Project Cures from Crypto Neurosis to Achieve Hard Cap

The usual mornings for cryptocurrency traders have been starting out on-edge lately. Rate exchanges for crypto have been going up and down sporadically and no one can predict it’s path. The wheel of neurosis untwists with every piece of news about whales going to a certain cryptocurrency or another; just one glance at Markets List can make somebody insane. Until getting into crypto becomes as routine as going to the mall, each of us has to hold in their nerves by ourselves or try to get some help.


“It’s insane!” – the most common definition of what is happening in the cryptocurrency market. The psychological state of traders is on the brink of falling. Psychologists and psychotherapists could provide the necessary support for distracted “bitlievers”. But what about the confidentiality of the visit? Would you feel secure in a one-on-one visit with your doctor? When it comes to large transactions in the state of the uncertain legal field, I consider you would not.

In a classical practice, client-therapist confidentiality has a lot of breaches. Imagine that the psychotherapist who treats you has a different understanding of medical secrecy. Once you are in a bad mood, blowing off some steam by verbalizing your negative thoughts, it can turn into a precedent for an informational leak. Consultancies performing to regulate rather than to actually do the therapy were common practice in history (you will find cases of patient privacy violation here: https://www.propublica.org/series/patient-privacy). On the other hand, psychotherapists or other counselors could easily be scapegoated for their client’s actions.

The most popular question on chats of ICO projects that repeats again and again is: Is it moon or not? Or, why will it [token] go high? To be fair, nobody worries, when the only aim of token contribution is the welfare of speculators. But what if the token you hold involves widespread usage in everyday life?

After trying telemedicine practice once, most of the doctors want to proceed. Psychotherapists realized that for effective communication with patients, they do not need to install a $10 000 couch in the office. Endocrinologists could provide better care when reading patients’ medical records more attentively. Those are some of the advantages of telehealth.  But there are the usual disadvantages as well:

  • Payment reimbursement for provided services
  • Difficulties with collecting verified medical records
  • Fears that telemedicine platform will be hacked with all of the data
  • Hackers or a service provider will record the process of consultation for own purposes.

All of these illnesses can be healed with a blockchain injection. Let’s consider a blockchain relevance in the healthcare industry with the example of WELL – a decentralized healthcare marketplace, being developed on the basis of the most popular telemedicine platform in Southern California.

When we speak about payment for healthcare, there are 2 problems: difficulties with cross-border transactions and high price. Using WELL tokens, a user can send and receive payment in minutes. No more middle man who gets nearly 30% of the cost due to Ethereum-based transactions. Another challenging issue is also related to the process of payment. Once a patient has treatment, both sides will be referred according to the smart contract principle.

Blockchain technology makes EHR storage even more secure than if it’s placed on a hard-drive somewhere in the Swiss mountains. For more use cases of token usage, click here.

Nobody knows how long the cryptocurrencies hysterics will endure. Furthermore, crypto investors are still very dependent on bumping perspective. These facts increase rates of depression and other diseases like OCD (obsessive cryptocurrency disorder), an illness that is specific to cryptocurrency enthusiasts.

Speaking of the healthier way of fighting bewilderment, digital healthcare provides a lot of wellness dedicated platforms, devices and apps. The Fruit Street app, for example, helps monitor dangerous conditions those suffering from diabetes, or AliveCor – a smartphone-connected device that measures electrocardiogram rhymes. But there is no single, central application or website where the crypto consumer can get appropriate medical care wherever he is, as a resident or as a traveler.

Where doctors can manage their own practice paperless, spending more time figuring out what is the most efficient way of treatment for their patients. Where patients cannot only pay but also earn money, just by providing de-identified data to researchers. Where there are no breaches of securities and worries of hackers stealing information. Some of these features exist separately, but not in one single application.

Let’s come back to the doctors. The first reports that such a clinic or a doctor began to work for cryptocurrency as payment sounded in 2013. In 2018, the medical community is even more actively involved in the world of crypto, and this means that the tokenization of medicine is just around the corner- including the pharmaceutical industry, distributors of medical equipment and scientific laboratories.

You still have time to take your place amongst conscious patients, providers, and supporters of WELL at https://t.me/joinwell.


Images courtesy of WELL

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Start a New Side Hustle With Ditch-it and Earn Up to $50k Extra a Year in Crypto

Want to earn a little extra money on the side, without compromising your current schedule? Ditch-it, a new app is here to help you get started quickly, and that too without many of the startup costs generally associated with traditional businesses.

Ditch-It is a decentralized local mobile marketplace on the blockchain that enables users to locally buy and sell the things they love for Electroneum cryptocurrency. The platform, to encourage individuals and businesses to have alternative sources of revenue is now running its crowdsale campaign. (ICO)

What is Ditch-It?

The platform aims to decentralize the buying and selling process, creating a strong channel for people to buy and sell goods from one another. By supporting a broad range of cryptocurrencies, the platform has made it incredibly easier for the users to earn cryptocurrency by selling their used stuff. Users can search for the desired goods based on location, find secondhand products and goods as well as services instantly via this crypto classified ad platform.

High Security & Privacy

The platform offers encrypted communication between the users, ensuring maximum privacy and security. The platform rewards the buyers with “crypto-back” bonus. It allows the users to post their ads, promote them using DICH Tokens and post videos of their goods or services.

About the ICO

The Ditch-It ICO has created quite the buzz in the world of digital currencies as investors flock to the best ICO’s hoping to cash in on the ground floor and pave the way for their retirement. Analysts have been predicting that this ICO may be among the top ICO’s of the year because of the exponential growth of the Ditch-It user base as well as company expansion.

The Ditch-it platform is a novel approach to bring classified ads to the blockchain and benefits from the added advantage of biometric facial recognition security features. Historically, it has been difficult for internet-based platforms to create a currency more convenient than fiat cash as a medium of exchange during secondhand goods sales, the added security and transparency provided by Ditch-it have impressively resolved the challenge.

To learn more about this ICO or purchasing tokens for investment purposes, visit their official website at http://www.ditchit.io

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