Although Bitcoin-based decentralized applications (dapps) have been known to replicate or copy Ethereum dApps, Jeff Yin, founder of Merlin Chain, believes there is a growing impetus to build bitcoin dapps that are distinguishable from ether-based dapps. Yin, however, noted that the synchronization between bitcoin-based dapps and the Ethereum Virtual Machine (EVM) dapps still benefits the […]
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Fantom Pains: Factors Behind The Crypto Markets Worst Weekly Performance
Bitcoin has failed to display strength during the past week and remains at risk of revisiting previous lows. The benchmark crypto seems to be negatively reacting to the current macro-environment, and an overall weakness from the buying side.
Related Reading | Risk Aversion Pulls Crypto Market Down, Bitcoin Still Below K
At the time of writing, the price of Bitcoin trades at ,544 with a 1.2% loss in 24 hours and a correction of 10.8% in the last week.
BTC trends to the downside on the daily chart. Source: BTCUSD Tradingview
As NewsBTC reported yesterday, Bitcoin has been in an “equilibriums” with speculator dumping their coins for a loss as bulls attempt to create a floor. This status quo has existed since Q4, 2021, leading to BTC’s price moving sideways for months.
Although constant, this state in the market is fragile and could break into either direction, but the downside seems likely. In the short term, bulls have failed to prevent BTC from breaking below and support at around ,000.
Data from Material Indicators (MI) continues to record an important stack of bid orders at around ,000, and ,000. In addition, as BTC moved into ,000 recently, there has been a quick response from sellers which could be trying to keep the price suppressed.
This dynamic in combination with low demand hints at a potential active attempt for entities trying to fill their bags at lower levels. A return into the mid-area around ,000 could invalidate this theory.
In a recent report, Arcane Research highlights two major macro events which seem poised to bring in volatility into Bitcoin and the crypto market. On Thursday, the U.S. will print a new CPI for February which is expected to continue its uptrend and hit 7.9%.
Source: Arcane Research
Due to the Russia-Ukraine conflict, there is a lot of uncertainty on how the U.S. Federal Reserve (FED) will react to higher inflation. At the moment, the markets seem to believe it will be to the downside for risk-on assets, such as Bitcoin.
Inflation, War, And An Unpleasant Week For Crypto Investors
The previous thesis seems to be supported by a rise in commodities. The price of Gold (XAU) has been on a rally after the Russian invasion of Ukraine. The precious metal trades north of ,000, a price was last seen in 2020 post the implementation of lockdown measures to prevent the spread of COVID-19.
Gold returns to post 2020 rally highs on the daily chart. Source: XAUUSD Tradingview
During that period, when Gold began its rally, Bitcoin suffered from a downtrend as global uncertainty unfolded. Other commodities have begun an uptrend, like BTC, ETH, XRP, ADA, and other large-cap cryptocurrencies suffer. Arcane Research noted:
Further, the war in Ukraine has huge implications on the commodity markets leading wheat, oil, gas, and nickel to soar – this may complicate central banks’ effort to combat inflation. More importantly, surging commodity prices may have spill-over effects, and we already see odd signals in Egypt and Poland.
Related Reading | TA: Bitcoin Faces Uphill Task, Why BTC Bears Are Still In Control
If central banks, particularly the U.S. FED, consider inflation to be a more persistent issue than initially thought, it may lead them to take faster and more aggressive monetary measures. A hawkish FED could turn worse for an already soft crypto market.
4th Pillar: Using Blockchain Technology to Solve Many of the Well-Known HR Pains
Handling human resources presents a challenge to almost all organizations, irrespective of their size. And at this time, most businesses run the same Human Resources processes but mostly manually which makes it hard for the people in charge to comb through data stored in outdated systems. Even with the hard work, they will be left with data that lacks validity and consistency.
Even if various disparate tools that affect human capital are aligned, there is no guarantee that the data contained within them is easily accessible, shareable and visible to all relevant stakeholders.
4th Pillar is a blockchain based project that aims to harness the power of blockchain technology to disrupt the way recruitment has been managed by finding a solution in the complicated world of HR and ultimately simplifying the entire HR industry.
Drastically Reduce the Use of Paper.
The human resource and finance connecting hub, 4th Pillar (presale coming soon), is designed for both individuals and organizations. Built with over 22 years of experience in the HR industry, the 4th pillar is based on the Ethereum blockchain and teleportation service, utilizing smart contracts, wallets and IPFS protocol to solve day-to-day problems experienced by individuals and their employers. The idea is to drastically reduce the demand for paper, which is expected to put more pressure on forest ecosystems, as well as help reduce the carbon and ecological footprint.
To achieve this vision is not going to be an easy task. 4th Pillar is facing three main challenges including lack of a wallet system capable of sending multiple payments from organizations to individuals, lack of a mainstream blockchain based B2B and B2C work related sensitive document transfer, and lack of an online recruitment platform based on verified data.
The solutions to challenges are the creation of a 4th Pillar decentralized blockchain system for employers to reward and transfer FOUR tokens directly to their employees using a self-managed 4th pillar decentralized personal savings wallet. 4th Pillar will also use Blockchain and Interplanetary File Systems (IPFS) to provide efficiency in the secure transfer of valuable documents through its network directly from employer to employee. This will make room for creating a digital employee professional identity database with automated evaluation system to recruit based on verified work history.
Platform Services Sales.
Four token is created as a utility token for the 4th Pillar platform. With an embedded token teleportation service and multiple transfer option, the FOUR token serves as an atomic unit and main component of the 4th Pillar ecosystem. As the platform uses Ethereum blockchain and token teleportation services in combination with 4th Pillar scalable cloud service, FOUR tokens will be used as the main value and gas. Other uses include a provision of community incentives and rewards, acts as a B2B payment medium, and as a main revenue mechanism in the 4th Pillar internal economy.
Once operational, on September 1st, 2018, FOUR tokens will earn the organization’s gas fees from token transactions. 4th Pillar organization sells FOUR tokens in EUROs to organizations at market price. In addition, tokens will also be sold to recruiters and HR agencies as platform subscription.
The hard cap forecast of 12M capital will be raised through a Token Generation Event process over a 3-month period. TGE sales are booked through all periods for the years; 2018, 2019, 2020, and 2021. Sales driven organization is reaching over 3M EUR platform services sales in the 4th year. Middle Cap organization is reaching 3M EUR platform services sales with 4.3 EUR booked in years 2018 and 2019. On the other hand, TGE sales are booked in 2 year period for the Soft Cap with a sales driven organization reaching 2.5M EUR platform services sales in the 4th year.
Possibilities for the Future.
What makes 4th Pillar unique is the way it is conceptualized, developed and integrated into the business. The platform combines several solutions that solve many of the well-known HR pains. The project already has a developed working BETA for the first function including multi wallet value transfer. To go even further, the 4th Pillar platform has great possibilities for the future as it has the potential to expand and target the wider market due to the fact that it will offer multi-field solutions.
More information about the 4th Pillar is available at – https://www.the4thpillar.io/
The post 4th Pillar: Using Blockchain Technology to Solve Many of the Well-Known HR Pains appeared first on NewsBTC.
Coinbase App Hits Number One While Suffering Growing Pains
The Coinbase App became the number one free app in the US App Store for the first time ever as Bitcoin exploded in value even though the actual site was down for parts of the day due to excessive demand. Yesterday saw a wild roller-coaster ride as Bitcoin shot up in value, racing way past the ,000 mark to even greater heights before falling back again. Naturally, this led to a massive influx of peoplenRead MorenThe post Coinbase App Hits Number One While Suffering Growing Pains appeared first
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‘More Bang for Less Byte’: ICOs Confront Growing Pains
If the opening reception at Token Summit II was any indication, the ICO market is still brimming with enthusiasm, but struggling to figure itself out.
CoinDesk
‘More Bang for Less Byte’: ICOs Confront Growing Pains
If the opening reception at Token Summit II was any indication, the ICO market is still brimming with enthusiasm, but struggling to figure itself out.
CoinDesk