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Akibat anjloknya harga Bitcoin – Investor dan pendukung Cryptocurrency mengalami goncangan minggu lalu akibat dari anjlok harga Bitcoin. Hampir semua perdagangan mata uang kripto berada…
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If there are two things a bear market’s good for, it’s building and memeing. Your portfolio might be down, but if you’re anything like crypto Twitter, your meme bank will be filled to overflowing with riches. Bloody markets make for marvelous memes.
Twelve months ago, media outlets such as news.Bitcoin.com were running low on stock images of bulls to accompany stories of BTC hitting new all-time highs. One year on and it’s bears we’re running low on. Thankfully, internet image boards and Telegram channels are a ripe repository of the sort of bears last seen in childhood cartoons, now repurposed to suit the market we find ourselves in.
Do our memes reflect the mood of the markets or do the markets reflect the mood of our memes? Perhaps if we all shared more bulls in our cryptocurrency trading groups the good times would return.
Hide the Pain
While market downturns can be good for germinating new memes, they’re also good for resurrecting old ones. Hide the Pain Harold sticker sets have been seeing heavy usage on Telegram ever since BTC dropped below $6,000.
2018’s defining meme has undoubtedly been the non-player character (NPC). It’s been used mercilessly throughout the cryptocurrency space to mock opponents, with the Blockstream/Bitcoin Core Telegram pack one of the finest sticker collections currently doing the rounds.
Sergey and the Singularity
Some crypto memes are too arcane to explain. Quite why posters on 4chan’s /biz/ messageboard have fixated on the CEO of oracle project Chainlink doesn’t matter. Nor does it matter why they’re hoarding LINK in anticipation of an event dubbed The Singularity that’s supposedly going to make them stupidly rich. All that matters is poor Sergey Nazarov has been memed mercilessly, albeit for all the right reasons – namely humor and awareness by his devoted band of Link Marines.
You’ve probably already seen the bagholder bingo card:
In a week where the SEC laid the banhammer on a brace of ICOs, it seems the perfect time to share bagholder bingo’s sister card – ICO bingo:
Finally, no matter how rekt your portfolio might be, remember – it can always get rekter.
What are your favorite crypto memes of the moment? Let us know in the comments section below.
Images courtesy of Shutterstock.
Need to calculate your bitcoin holdings? Check our tools section.
The post Cryptocurrency Memes: The Only Assets That Can Survive a Bear Market appeared first on Bitcoin News.
The people of Venezuela have been forced to cope with an increasingly difficult economic situation in recent years. This has led to a loss of trust in government-issued fiat by the population in a way that many believe exemplifies the need for cryptocurrency. This may account for why a major Venezuelan department store chain accepts cryptocurrency, something which is a rarity to see in more prospering economies.
Traki Accepts Cryptocurrency Payments
Traki is a large chain of department stores operating in Venezuela for over 30 years. It encompasses 49 branches in many major cities across the country, selling everything from fashion to food and cookware.
According to its public profiles on social media, the company has opened up to transactions with digital assets since at least October. Traki accepts payments in a number of popular cryptocurrencies including bitcoin cash (BCH), bitcoin core (BTC), dash (DASH), ethereum (ETH) and litecoin (LTC).
— Traki (@TRAKIenganchate) October 11, 2018
Show of Support by Crypto Community
Due largely to government policies, exacerbated by a fall in revenue from oil exports, the economy in Venezuela has been in a sharp decline for years. Inflation in the country is expected to reach over one million percent by the end of 2018, and consumer prices are projected to rise by another ten million percent in 2019 according to recent data from the International Monetary Fund.
The situation in Venezuela has pushed many in the crypto community to try and promote digital assets as a solution to the problem unabated fiat printing has caused. A number of charities have also formed, such as the Eatbch initiative which we recently reported on.
On Friday, we received another example of cryptocurrency being used for good in Venezuela as a Reddit user spoke of buying over 800 items at Traki with donated BTC. She showed a video of herself buying clothing and school supplies with the funds that will be gifted to kids in need.
Is the economic situation in Venezuela likely to convince more people in the country to turn to cryptocurrency? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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.
The post Major Venezuelan Department Store Chain Accepts Cryptocurrency appeared first on Bitcoin News.
The drama surrounding the recent Bitcoin Cash fork has comprised the catalyst for significant action across the cryptocurrency market, with both BCH and BTC posting new lows for 2018 on Nov. 15. Meanwhile, XRP has again overtaken ETH to rank as the second largest cryptocurrency by market capitalization.
Fork Drives New All-Time Price Lows for BCH
In the days leading up to the fork, BCH was trading within an approximately 6% range between $500 and $530. Support at the $500 area then broke at around midday on Nov. 15th, with the price crashing as low as $350 on Bitstamp. On Bitfinex, BCH spiked down to $250, before BCH trading was halted on the platform in the run-up to the fork.
In the days since the fork, BCH has predominantly traded within a 10% range of between $375 and $410. The aggressive sell-off has seen BCH lose over 35% of its value against the dollar in just 12 days, although this can be attributed to some of BCH’s value being assigned to the minority SV chain that forked off.
When measuring against BTC, BCH established a new low of 0.046 BTC on Bitstamp after the markets broke below resistance at 0.066 BTC. Since Nov. 6th, BCH has lost approximately 45% of its value when measuring against BTC.
Bitcoin cash is currently the fourth largest cryptocurrency by market cap with a total capitalization of $6.67 billion.
BTC Consolidates Below $6,000
Looking at Bitfinex, BTC experienced heavy selling pressure starting from approximately 4 a.m. on Nov. 14 when the markets began to test support at approximately $6,400. After a short period of consolidation, the markets then fell 9.5% from $6,460 to approximately $5,850 in less than three hours.
24 hours of sustained selling pressure then drove prices to set an annual low of $5,432 on Nov.15, before a sharp bounce found resistance at approximately $5,750. The aggressive sell-off saw the price of BTC drop approximately 15% in a single day. Since then, BTC has consolidated within a tight range of less than 5%, with prices hovering between $5,550 and $5,750.
On Bitstamp, the dump saw BTC lose 16% in 24 hours, falling from approximately $6,210 to set an annual low of $5,200. Since then, BTC has hovered between $5,400 and $5,600. BTC currently has a market cap of roughly $97.25 billion.
Ripple Boasts Largest Altcoin Market Cap
XRP has again overtaken ETH to rank as the second largest cryptocurrency by total capitalization, a position it has held since Nov. 15 as of this writing. XRP currently has a market cap of $20.6 billion.
When measuring against USD, XRP has fully recovered from its 16% crash that transpired on Nov. 15, with prices currently hovering at roughly $0.517.
When looking at XRP/BTC, the Nov. 15 sell-off appears to have formed an inverse head & shoulder pattern on the hourly chart, priming the markets for the Nov. 16 breakout that has driven the price of ripple up to test resistance at 0.000093 BTC in recent hours.
ETH/BTC Sees Low Volatility
When measuring against BTC, ethereum has held relative stability in recent days, with the Nov. 15 dump trading within a tight range.
As of this writing, ETH is testing support at 0.0325 BTC, with the current price action appearing to follow roughly two months of sideways consolidation following May through July’s heavy selling pressure.
When measuring against USD, the Nov. 15 sell-off drove an approximately 17% drop in the price of ethereum once support at $210 broke. After bouncing off a low of $170, ETH has since consolidated between $175 and $185.
Ethereum is currently the third largest cryptocurrency by market cap with a capitalization of $18.17 billion.
Do you think the markets have posted their lowest position for 2018 or is more selling pressure imminent? Share your thoughts in comments section below!
Image courtesy of Shutterstock, Tradingview
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Nick Szabo invented them but has reservations about what they’ve become. Vitalik Buterin adopted them but now regrets using their name. Dangerous when coded badly, and powerful when used intelligently, smart contracts have become a critical component of the cryptoconomy. Their code serves as the bond that glues the tokenized ecosystem together. Now, just to add further complexity, the SEC has begun monitoring smart contracts and their creators closely.
Smart Contracts, Legal Liability and the SEC
Smart contracts, explained the U.S. Securities and Exchange Commission (SEC), “provide the means for investors and market participants to find counterparties, discover prices, and trade a variety of digital asset securities.” In its Statement on Digital Asset Securities Issuance and Trading, published Nov. 16, the SEC referred to smart contracts five times, particularly in reference to Etherdelta, whose creator was prosecuted for operating an unregistered securities exchange that ran on smart contracts he’d coded. What this ruling means for developers, moving forwards, is a matter of some debate and great concern.
Code has often been likened to free speech, with advocates adamant that developers should not be held liable for how their code is used. In the case of Etherdelta, the prosecution of Zachary Coburn was relatively straightforward, since he’d personally developed the smart contracts that powered the platform. In future, however, the SEC may not make a distinction between the developer of a piece of code and the end user. If the creator of a smart contract used to facilitate decentralized trading can be identified, that individual could conceivably be held liable for securities violations. As the SEC’s report notes:
An entity that provides an algorithm, run on a computer program or on a smart contract using blockchain technology, as a means to bring together or execute orders, could be providing a trading facility. As another example, an entity that sets execution priorities, standardizes material terms for digital asset securities traded on the system, or requires orders to conform with predetermined protocols of a smart contract, could be setting rules.
More Code Brings Greater Complexity
Morally, code is neither “good” nor “bad”; the rules governing the operation of a smart contract are simply a consequence of the behavior mandated by its creator. These rules, and their permeation into every facet of the cryptoconomy, have forced a rethink of the way cryptocurrencies and their protocols are understood. With the emergence of sidechains such as Rootstock, federated chains such as Blockstream’s Liquid Network, and cross-chain products such as WBTC, the code that controls the cryptocurrency markets is becoming ever more labyrinthine and layered.
As the cryptocurrency industry’s reliance on smart contracts increases, regulators are going to have some difficult decisions to make. Who should be held liable when an entity conducts a securities violation, for example – the trader, the operator of the decentralized platform or the developer who coded the smart contract? Even the father of smart contracts, Nick Szabo, has acknowledged that, despite being wholly digital, they are ultimately an agreement that mirrors a traditional contract, writing: “‘Smart contract’ like ‘contract’ connotes a deal between people, but a deal intermediated and incentivized by dynamic machine-interpreted rules instead of the statically recorded human-interpreted rules of a traditional contract.”
For U.S.-based developers who wish to remain free to code without worrying about legal liabilities, the only solution may be to remain anonymous. This is the approach being favored by the team behind the forthcoming Grin cryptocurrency, which makes use of Mimblewimble privacy tech. It’s also the approach taken by a certain S. Nakamoto 10 years ago upon launching his cryptocurrency. The SEC can’t prosecute whom it doesn’t know.
Do you think smart contract developers should be held legally liable for their code? Let us know in the comments section below.
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The post Smart Contract Developers May Be Held Liable by the SEC appeared first on Bitcoin News.
It’s been a pretty hectic week for cryptocurrency enthusiasts as the infamous Bitcoin Cash hash war has unfolded. Overall, the cryptocurrency economy has lost billions since our last markets update, with the entire market worth roughly $188 billion on Sunday, Nov. 18.
Riding Out the Lows
Most digital asset markets are seeing their lowest values in a year, leaving traders curious to see what happens next. The last week was filled with all kinds of craziness due to the Bitcoin Cash (BCH) split that took place on Nov. 15. Many digital asset enthusiasts believe the BCH fork possibly moved all the markets due to the economic activities used to fight the battle. Right now bitcoin core (BTC) is trading for $5,593 per BTC and has an overall market valuation of $97 billion. One thing many people didn’t notice during the hash war was that ripple (XRP) displaced ethereum (ETH) and took second place. The second largest market capitalization held by XRP is worth $20 billion and each ripple is being swapped for $0.50 today. Ethereum (ETH) prices are trading for $175 per coin and the market valuation is currently $18 billion. Lastly, the fifth position held by stellar (XLM) has a capitalization of around $4.8 billion and one XLM is trading for $0.25.
Bitcoin Cash (BCH) Market Action
Bitcoin Cash (BCH) still holds the fourth position this weekend but the fork has depleted all the pre-fork money that went into the market in the weeks prior. BCH is trading for $381 right now which is a big improvement from its low of $269 on Nov. 15. Although it should be noted that a lot of large exchanges paused BCH trading over the last few days, but markets like Bittrex have recently opened. Because of the lack of trading vessels, BCH market pairs are quite interesting. Today ethereum (ETH) is dominating BCH pairs by 56% over the last 24 hours. This is followed by USDT (15%), BTC (14%), KRW (8.1%), and JPY (3.5%). Both the Korean won and Japanese yen have jumped considerably when it comes to BCH currency pairs.
BCH/USD Technical Indicators
Looking at charts from exchanges that are currently allowing trades like Bittrex and Voltaire shows BCH has been steadily climbing back up after being dragged down to the $269 low. The two Simple Moving Averages (SMA) are very close but the short term 100 SMA is still above the long-term 200 SMA trendline. This indicates the path toward the least resistance is the upside and when more exchanges open this will likely hold true for a little while but not for too long. At a price of $381, the 4-hour BCH Relative Strength Index (RSI) is still indicating oversold conditions at -23. Order books show a similar readout as the course toward $500 shows very little waves but there may be bumps after $450. On the backside, there are lots of foundations between the current vantage point and $300 with lots of pit stops.
The Verdict: Traders Patiently Waiting to Trade BCH Expect a Bunch of Market Action
Traders are waiting for more exchanges to open BCH markets up and when they do some believe the price could move wildly in any direction. Cryptocurrency proponents are also curious to what will happen to markets with the introduction of the new coin BSV, as most BCH supporters are confident exchanges will list the ABC chain as BCH. For instance, Kraken support has explained that the ABC chain will be given the BCH ticker, and Huobi Global emailed customers today stating:
BCH ABC, the longer chain, will be retained for the designation of BCH. And, we will be designating the SV version of BCH as BSV.
News.Bitcoin.com also spoke with the CEO of the Colombian cryptocurrency trading platform, Panda Exchange, who told our newsdesk Panda will be listing the ABC chain as Bitcoin Cash (BCH).
“Panda believes the large chain is the only one that will survive, and we believe Bitcoin ABC still has the same soul — For that, we know BCH-ABC is BCH — And Panda will support the ABC chain and it will still have ticker ‘BCH,’” explained the Panda Exchange CEO. “Also all subproducts of Panda Group like Xeler ATM and ccoins.io will follow the same route.”
According to exchanges like Poloniex, which are trading BSV tokens at the moment, the price per BSV is around $99 USDC but is down 15% over the last 24 hours.
Where do you see the price of bitcoin cash and other coins headed from here? Let us know in the comments section below.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Images via Shutterstock, Trading View, and Satoshi Pulse.
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The post Markets Update: Traders Expecting Major BCH Action When Exchanges Open appeared first on Bitcoin News.
Platform pemeringkat koin dan bursa kripto, CoinGecko, baru-baru ini meluncurkan “CoinGecko Quarterly Report Q3 2018.” Dalam laporan kuartal ketiga 2018 yang mencakup bulan Juli, Agustus, dan September itu terungkap bahwa harga cryptocurrency dan kapitalisasi pasar mengalami lebih sedikit volatilitas dibandingkan dengan kuartal sebelumnya. Namun, meskipun tren harga turun, volume perdagangan terus berada pada level yang kurang lebih sama.
Catatan pendiri CoinGecko, Bobby Ong dan TM Lee, pada laporan itu mengungkapkan bahwa mereka menandai adanya peningkatan popularitas stablecoin (koin kripto yang dirancang memiliki nilai stabil atau volatilitas minimal), salah satunya Dai. Perusahaan di balik stablecoin Dai, Maker DAO, memperoleh investasi dari Andreessen Horowitz senilai US$ 15 juta, 6% dari total persediaannya. Stablecoin lain yang diregulasi (regulated stablecoins) diluncurkan pada kuartal ketiga ini, antara lain Gemini USD dan Paxos Standard.
Ong dan Lee juga memberikatan catatan bahwa harga koin Etherum ETH mengalami penurunan pada kuartal ini, yang mungkin disebabkan ada pelambatan secara signifikan dalam peluncuran ICO (Initial Coin Offering).
Bagian lain laporan itu mengungkapkan bahwa kuartal yang lalu menunjukkan tren penurunan harga dan kapitalisasi pasar, namun kondisi itu mendorong terjadinya peningkatan volume perdagangan secara bertahap.
Dalam satu tahun terakhir, Oktober 2017 hingga September 2018, lima koin terbesar (Top-5) menghasilkan pengembalian (return) positif, kecuali ETH minus 22%. Empat koin terbesar yang memberi hasil positif adalah BTC 52%, XRP 186%, BCH 28%, dan EOS 708%.
Dokumen laporan kuartal ketiga 2018 CoinGecko yang lengkap dalam bahasa Indonesia dapat diunduh dari http://bit.ly/coingeckoQ32018-ID. Dokumen dalam bahasa Inggris tersedia di http://bit.ly/coingeckoQ32018.
The post Laporan Kuartal Ketiga 2018 CoinGecko: Meskipun Tren Harga Turun, Volume Perdagangan Kripto Tidak Berubah appeared first on CoinDaily.