Facebook’s Libra is trying to simultaneously be pro-privacy and pro-KYC this forms an inherent contradiction.n
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Bitcoin SVs Delisting Isnt Censorship. But Its Still a Problem
The controversy over delisting bitcoin SV shows why crypto exchanges need more consistent standards and rules.
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With Latest Partnership, Ledger Vault Offers a Fix to Cryptos Custody Problem
n nn nn Within the sphere of traditional finance, at least, crypto has a custody problem. The problem Crypto is complicated, security is tricky and if were being frank the suits dont know a bit from a byte or a blockchain from a cloud server.In fact, you could rightly say that what makes crypto, well, crypto actually makes them nervous. Unlike settling traditional assets, you cant reverse a bitcoin transaction, the blockchain offers no internal or centralized co
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CME Group CEO Terry Duffy No Bitcoin Deficit a Problem for Regulators
n CEO of CME Group Terry Duffy believes Bitcoins finite amount is a hurdle for regulatorsn
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Op Ed With Bitcoin, Anarchy Is the Point, Not the Problem
n nn nn Last week, there was a panel at SXSW that was effectively a debate on the merits of permissioned blockchains versus permissionless systems like Bitcoin. I listened to the entire audio of the panel discussion, after Programming Bitcoin author Jimmy Song tweeted it out the other day, and I thought he did an awesome job of pointing out the key value proposition of Bitcoin and why it is not worth comparing to permissioned systems.What Was the Innovation With B
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Winklevoss Twins: Regulation Needed to Address Crypto ‘Trust Problem’
The post Winklevoss Twins: Regulation Needed to Address Crypto ‘Trust Problem’ appeared first on DCEBrief.
Analyst: Bitcoin Faces Serious Demand Problem Despite BTC Holding Above $3,800 Support Level
After trading sideways since experiencing some volatility over this past weekend, Bitcoin (BTC) has now established a fresh trading range between approximately ,800 and ,900, finding relative levels of support at the former price and resistance at the latter price.
Now, analysts believe that the lack of significant buying pressure at these relatively low prices signals that further downside may be imminent.
Bitcoin Stable Above ,800, But Faces Resistance at ,900
At the time of writing, Bitcoin is trading down marginally at its current price of ,855. Yesterday, BTC dipped to lows of ,800 before finding some buying pressure that propelled it back up towards ,900, where it was rejected and pushed down to its current levels.
In the short-term, it is highly likely that this will be a new trading range, and without an increase in trading volume BTC may be stuck between these prices for the foreseeable future.
SalsaTekila, a popular cryptocurrency analyst on Twitter, spoke about this newly formed trading range in a recent tweet, noting that it is incredibly difficult to profitably trade within tight ranges like this.
“The $BTC range I was speaking of worked out splendidly: both extremes hunted… From here I don’t care what happens, speculate on up or down all you want I won’t counter trade you for the rest of the day… Be back after the daily close,” he said.
The $BTC range I was speaking of worked out splendidly: both extremes hunted.
From here I don't care what happens, speculate on up or down all you want I won't counter trade you for the rest of the day
Be back after the daily close. pic.twitter.com/aDkBfJEN3i
— SalsaTekila (JUL) (@SalsaTekila) February 28, 2019
SalsaTekila further explained that he expects BTC to shortly see further downside.
“To be fair, that looks like downtrend continuation for now.”
/2 To be fair, that looks like downtrend continuation for now.$BTC pic.twitter.com/TUSXL3GkES
— SalsaTekila (JUL) (@SalsaTekila) February 28, 2019
Analyst: Bitcoin’s Lack of Buying Pressure at Current Prices Signals Technical Weakness
Although Bitcoin has been able to hold strongly above its 2018 lows set in the low-,000 region, one analyst believes that Bitcoin’s current lack of strong buying pressure could mean that the cryptocurrency has run out of “dip buyers” and that further downside is imminent.
“Bitcoin failed to hold on to last week’s rebound [above ,000] and slipped back under this psychologically significant level. If dip buyers were waiting to pounce on these discounts, they would have done so by now,” Jani Ziedins of the CrackedMarket blog explained while speaking to MarketWatch.
Ziedins further noted that the weakness of Bitcoin’s last rebound signals a “serious problem” for the cryptocurrency.
“The latest rebound failing to stick tells us demand is still a serious problem for the cryptocurrency and no one is coming to the rescue anytime soon,” he said.
Bitcoin will likely continue to follow its recent trend of making large price swings after experiencing extended period of sideways trading. If history continues to repeat itself, BTC will likely see increased levels of volatility during the upcoming weekend or into the early-half of next week.
Featured image from Shutterstock.
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Nasdaq’s Bitcoin and Ethereum Indices Solve a Major Problem for Crypto
Nasdaq may have just removed one of the most significant barriers before a potential cryptocurrency adoption.
The US stock market exchange on Monday announced two cryptocurrency indexes which provide real-time spot or reference rate for Bitcoin and Ethereum. Dubbed as the Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX), both the indexes extract price data from multiple exchanges to provide onlookers single price point for BTC and ETH. Nasdaq assured that independent auditors had verified their methodology of obtaining and unifying price data to present the best USD-equivalent value of cryptos.
“The BLX,” the exchange said, “is one of the most widely-referenced BTC indices among crypto traders and has been calculated back to 2010.”
At the same time, the ELX price data dates back to 2014, the exchange added. The indices’ underlying algorithm, created by New Zealand-based blockchain research firm Brave New Coin, will refresh price information at a frequency of thirty seconds.
IOSCO Principles
Nasdaq said that their independent auditors had verified both BLX and ELX against the critical principles proposed by IOSCO. They are investors’ security, regulating markets to ensure fairness, efficiency, and transparency, and curbing systematic risks.
The Nasdaq is going to list #Bitcoin & #Ethereum indices!! The herd is coming. A #BTC & #ETH ETF will be next. @APompliano #crypto #blockchain #cryptocurrency #digitalasset https://t.co/Zayz9avkLB
— Roland (@rolandstautz) February 14, 2019
In a broader perspective, the move could lead to solving regulators’ concerns about new-age bitcoin trading derivatives. For instance, the Securities and Exchange Commission (SEC) had consecutively rejected the applications of nine bitcoin exchange-traded funds fearing market manipulation. The regulator had stated that exchanges that acted as a bitcoin’s reference price point remained loosely regulated.
Reducing Market Manipulation Risks
Some ETF applicants processed the SEC’s concerns. They took initiatives to bring more transparent pricing systems for potential investors. VanEck, for instance, launched a bitcoin price index through its New York-based subsidiary, MV Index Solutions, in November 2018.
Fast forwarding to the present, it appears Nasdaq is also working on the same concerns. The stock market operator has been very active lately in the cryptocurrency and blockchain space. In January 2019, it led a -million Series B of blockchain startup Symbiont.
In November 2018, a Bloomberg report claimed that Nasdaq was planning to launch bitcoin futures contract in early 2019. Per the news agency, the exchange was working with the Commodity and Futures Trading Commission (CFTC) to solve some regulatory issues. At that time, Nasdaq had partnered with VanEck to use their bitcoin index solution, as mentioned earlier, for their futures contracts.
It is not clear whether or not BLX would play any crucial role in Nasdaq bitcoin futures offering. But it inevitably opens the exchange’s horizons to achieve more stable and transparent crypto pricing indexes.
Opportunity to Attract Big Investors
The launch of Nasdaq crypto indices could lead to regulatory approval for crypto-based derivatives in the market. In the near-term, the move could project cryptocurrencies as new investment alternatives to both retail and institutional investors. According to Ari Paul, the founder and CIO of crypto fund BlockTower Capital, the institutional investment is coming to the crypto space. But, nobody should expect it to arrive earlier.
9/ the level of interest and education continues rising, but slow progress on adding crypto to the platform (whether that’s a wealth management platform at a bank, or trading services at a big hedge fund.
— Ari Paul (@AriDavidPaul) February 1, 2019
“I’ve been too optimistic about the pace of institutional adoption in the past,” said Paul. “It’s coming, but I can’t estimate which quarter (whether that’s this year or 2022) that we’ll see a big spike. As a humble guess, something like Q3 2019.”
Both BLX and ELX will go live on Nasdaq on February 25.
The post Nasdaq’s Bitcoin and Ethereum Indices Solve a Major Problem for Crypto appeared first on NewsBTC.
The Biggest Problem for ICOs In 2018, It Was Their Own Investors
Hashed CEO Simon Seojoon Kim looks at the inherent limitations of ICOs, in particular the belief that anyone can invest in an initial project.
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Bitcoins Tick Problem Getting Screwed on Crypto Exchanges
A penny not mean much to you, but for crypto exchange traders it’s a big deal.
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