Personal finance expert and best-selling author Dave Ramsey says he agrees with Berkshire Hathaway CEO Warren Buffett regarding bitcoin. Viewing the crypto as a currency whose value is based on “thin air,” Ramsey stressed: “I wouldn’t wish bitcoin investments on somebody I really dislike.” Dave Ramsey on Bitcoin: ‘It’s Still Thin Air’ Personal finance guru […]
Bitcoin News
Bitcoin On Thin Ice: Peter Schiff Warns Impending SEC Regulations Could Tank Prices
Prominent economist and vocal crypto skeptic Peter Schiff has once again stirred the pot with his latest prognosis on Bitcoin (BTC). Schiff, known for his critical stance on digital currencies, has raised eyebrows with his latest post, where he warns of impending regulatory changes that could trouble Bitcoin’s transaction costs and future price trajectory.
Regulatory Changes On The Horizon
Schiff’s warnings are anchored in his belief that the US Securities and Exchange Commission (SEC), under the leadership of Gary Gensler, is poised to introduce new, more stringent regulations for cryptocurrencies.
According to Schiff, these regulations will likely significantly increase the operational costs of Bitcoin transactions. He argues that this hike in transaction costs will erode Bitcoin’s practicality as a digital currency, potentially leading to a sharp decrease in its market value.
Since @GaryGensler was backed into a corner on spot #BitcoinETFs approval, I think he will soon introduce new onerous #crypto regulations that will substantially increase the cost of #Bitcoin transactions, further undermining its “use” case, resulting in a sharp decline in price.
— Peter Schiff (@PeterSchiff) January 17, 2024
Schiff interprets Gensler’s recent actions, especially regarding approving spot Bitcoin exchange-traded funds (ETFs), as a precursor to these anticipated regulatory measures.
Despite the looming threat of increased regulation, some industry observers have pointed to Gensler’s previous classification of Bitcoin as a commodity. This categorization, they argue, might present challenges to the SEC’s scope of regulation.
However, Schiff counters this view by suggesting that the focus of any impending regulatory changes could be more aligned with anti-money laundering efforts rather than strictly within the ambit of securities law.
He thinks most are securities. But he may even change his mind on Bitcoin. But my thought is that new regulations will relate to AML, not securities law.
— Peter Schiff (@PeterSchiff) January 17, 2024
Technical Analysis Adds To Bearish Sentiment On Bitcoin
Supporting Schiff’s bearish outlook, market analyst Bitcoinhyper has recently identified a bearish pattern on Bitcoin’s chart. According to the analyst, a double-top pattern on the stochastic oscillator, a well-regarded momentum indicator, has emerged, signifying potential bearish movement ahead.
This technical observation aligns with recent market trends, where Bitcoin has shown downward movement following the formation of this pattern. Bitcoinhyper’s analysis supports the idea of further corrections, suggesting that Bitcoin’s peak might already be established.
As Bitcoin navigates through these uncertain waters, on-chain data from IntoTheBlock presents another challenge. The data shows that Bitcoin is currently facing a robust on-chain resistance zone.
This resistance is gauged by the volume of Bitcoin acquired by investors within the price range of ,700 to ,000. Approximately 2.68 million addresses holding over a million BTC are clustered in this range, creating a formidable barrier for price movements.
Bitcoin’s trading price currently hovers around ,601, reflecting a 0.9% decrease over the last 24 hours and nearly a 5% decline over the past week. This price action is further compounded by a notable decrease in trading volume, which has dipped from last week’s billion to below billion today, indicating reduced market activity.
This sluggish market performance comes in the wake of fading excitement over the recent spot ETF approvals and an absence of significant market-driving news.
Featured image from Unsplash, Chart from TradingView
Bitcoin Price Supported By Thin $40 Million Bid Pool, But For How Long?
In the ongoing market turbulence on higher timeframes, Bitcoin (BTC) is at a crucial juncture as a great consolidation phase persists.
Research and analysis firm Material Indicators closely monitored the recent weekly candle close/open, paying particular attention to two key factors: the trend line and the 21-day, 21-week, and 21-month moving averages (MA) – all of which are currently influential in shaping market dynamics.
Uncertainty And Potential Turning Point For Bitcoin
The opening of the weekly candle below the trend line triggered a “subsequent nosedive,” amplifying concerns. While the 21-week and 21-month moving averages continue to serve as robust support, the 21-day MA has faced a rigorous seven-day testing period, according to the firm’s analysis.
Notably, the tight correlation of the 21-MA across three distinct time frames is rare, indicating that the market is at a critical inflection point.
Despite the compressed volatility witnessed in recent days, the price action observed over the past 24 hours exemplifies the market’s attempt to shake out weak hands.
According to Material Indicators, given the complexity of the current price action, it is prudent to zoom out and gain a broader perspective. Both Trend Precognition algorithms identified these moves on the four-hour chart, emphasizing the significance of adopting a comprehensive outlook.
Moreover, according to Materials, the order book reveals a concerning trend in bid liquidity, with less than million holding the price up.
The absence of substantial liquidity below this level raises fundamental worries. However, it also suggests that there may not be sufficient sentiment to drive prices significantly lower – at least not yet.
In addition, Material Indicators highlights that the examination of liquidity movements within the order book over the past month paints a picture of continued price volatility with a potential upward bias.
However, the lack of volume raises concerns about the market’s overall health. Despite a million buy wall at ,900, the bottom of the channel at ,300 remains a critical threshold for BTC to extend its current trend. The firm claims:
… the bottom of the channel at .3k remains my line in the sand for BTC to extend the trend, and I maintain that we must see weekly candles printing above the 100-Week MA to even consider a bull breakout.
BCT Faces Renewed Pressure Amid Strengthening US Dollar
As Bitcoin enters a new week of trading, market participants closely monitor the potential impact of the strengthening US Dollar Index ($DXY) on the world’s leading cryptocurrency.
According to Yan Alleman, co-founder of blockchain analytics firm Glassnode, recent developments suggest that BTC may face renewed pressure due to the upward momentum of the $DXY.
Alleman highlights that the $DXY’s renewed strength could exert downward pressure on Bitcoin’s price. Historically, there has been an inverse correlation between the value of the US Dollar and the price of BTC, meaning that when the dollar strengthens, Bitcoin often faces headwinds.
However, options pricing indicates a bullish sentiment for Bitcoin in the coming month. Options are financial derivatives that allow traders to speculate on the future price of an underlying asset, in this case, Bitcoin.
The pricing of options contracts suggests an expectation of a bullish move shortly. This aligns with the technical analysis indicating potential upside for Bitcoin.
Analyzing the potential price movements, Alleman notes that it would require nearly twice as much selling pressure to push Bitcoin down to the low ,000 range compared to the buying pressure needed to surpass the ,000 level.
This observation suggests that there may be greater support and buying interest at higher price levels, making a sustained drop less likely.
As of the time of writing, Bitcoin (BTC) is trading at ,500, reflecting a marginal 0.4% increase over the past 24 hours.
Featured image from iStock, chart from TradingView.com
It’s “Thin Air” For Bitcoin If Price Crosses $14,000 on a Macro Basis
Bitcoin has undergone another massive leg higher over the past day. After bottoming at ,800 yesterday, the cryptocurrency has surged higher towards ,800. The coin currently trades for ,700 as it attempts to stabilize after the daily candle close.
Analysts are getting ready for fireworks as Bitcoin nears the pivotal ,000 resistance level. ,000 has long been an important level for Bitcoin, marking the highs almost perfectly during 2019’s surge to the upside in the summer.
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom
Bitcoin Expected to Enter “Thin Air” if Price Crosses ,000
Bitcoin is expected to enter “thin air” if the coin can cross ,000 on a weekly or monthly basis, analysts say. One crypto-asset analyst shared the chart below amid BTC’s latest thrust higher, noting that the cryptocurrency breaking that resistance could spark an even greater rally:
“The 2018 (start of the bear market) yearly open. This is it. This is the last “resistance”. Above this level, it’s thin air.”
The leading cryptocurrency is expected to move toward that range in the coming days as it holds the high-,000s.
Other analysts that have accentuated the importance of ,000 include Raoul Pal, the CEO of Real Vision and a former head of hedge fund sales at Goldman Sachs.
Pal believes that once Bitcoin passes ,000, the only macro resistance that it will face is at ,000. But arguably, ,000 is even more important than ,000 due to the amount of volume around this level.
Source: BTCUSD from TradingView.com. Chart of BTC's price action since the start of 2017 with analysis by crypto trader Byzantine General (@Byzgeneral on Twitter).
Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin
Funding Rates Go Negative, Increasing Chances of Short Squeeze
The chances are increasing that Bitcoin spikes from here.
Crypto-asset derivatives tracking site ByBt reports that the predicted funding rates of leading Bitcoin futures markets are currently entering negative territory. The funding rate is the fee that long positions pay short positions every eight hours to keep the price of the future close to the price of the spot market.
Negative funding rates suggest that shorts are more aggressive than longs. Negative funding rates in uptrends suggests there are traders expecting prices to drop, but this can result in short squeezes if the price inches high enough to trigger a series of stop losses.
Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Title
Break of “Market Structure” Puts Bitcoin Uptrend On Thin Ice
Bitcoin and the rest of crypto have been experiencing a strong uptrend since Black Thursday when markets nuked globally and no assets were safe from the carnage.
And while a flip into a downtrend isn’t yet confirmed, a break in market structure at the very least puts the uptrend on thin ice.
BTCUSD Break In Market Structure - Waiting For Lower Low | Source: TradingView
Bitcoin Market Structure Broken, But Downtrend Has Yet To Confirm Like Other Top Crypto
Bitcoin price is now trading in the low- to mid-,000 range, after falling from the 2020 high of ,400 and once again being rejected at ,200.
The two distinctly lower “tops,” have set the first lower high on daily timeframes, however, the cryptocurrency has yet to set a lower low. The initial break in market structure, one crypto analyst claims, could soon confirm a now, short-term downtrend across the board.
Related Reading | How Bitcoin’s 2020 High Compares To Past Bull Market “Tops”
Alongside Bitcoin showing such a pattern, the fourth-ranked crypto asset XRP is also exhibiting similar price action. Both top crypto assets could follow other, lower-ranked altcoins such as Litecoin, EOS, Chainlink, and Cardano all of which have seemingly confirmed the downtrend.
A downtrend, by definition, is a series of higher lows and lower lows, while an uptrend is the opposite. Bitcoin thus far has only potentially put the uptrend at risk but hasn’t confirmed a downtrend with a lower low.
LTCUSD Break In Market Structure - Lower Low Confirms Downtrend | Source: TradingView
2020’s Higher Low Puts Cryptocurrency Market In Jeopardy Of Lower Low Next
If Bitcoin is poised to reenter a downtrend and potentially revisit bear market lows, then the stock-to-flow model and any halving-based supply theories could be put to rest for good.
Those who subscribe to the idea of lengthening market cycles in crypto assets would be correct, and investors would have a lot longer to wait for Bitcoin to reach the lofty price predictions many hope for.
Related Reading | Bitcoin Fundamental Expert: “Clarity” Comes After “Rocky” Election Ends
On higher timeframes, Bitcoin has also set a lower high, with the 2020 low of ,400 being over ,400 less than the 2019 peak. A higher low on Black Thursday that retested Bitcoin’s bear market bottom, has kept the hope of an uptrend intact.
A higher low, however, is dangerous, and if daily timeframe trends turn down, the higher timeframe trend could do the same. And going by the definition of a downtrend alone, and what a bullish market structure should look like, the crypto asset could be in for another surprise collapse int he days ahead.
Featured image from DepositPhotos, Charts from TradingView
Bitcoin SV Soars but Thin Volume Hints Huge Crash Ahead
Bitcoin SV (BSV) was among the major gainers this week as a macro bullish move pumped all the leading Bitcoin rivals.
The fifth-largest cryptocurrency by market capitalization swelled 14.88 percent since Wednesday’s open, establishing a week-to-date high of 1.27. The move uphill came after days of choppy price actions which, in turn, followed a huge pump-and-dump action past mid-January, as shown in the chart below.
The BSV/USD price at best looks choppy | Source: TradingView.com, Coinbase
Think Bitcoin SV Volume
The wild moves in the BSV/USD trade market came despite a lack of big volumes. In retrospect, less number of BSV traders changed hands on its active spot markets. They were visibly lesser compared to Bitcoin SV’s rival cryptocurrencies. However, its standard deviation, which measures volatility, was surging on all the exchanges.
The huge difference between Bitcoin SV’s volatility and volume prompted experts to doubt the credibility of its recent gains. Atop that, Bitcoin SV founder Craig Wright himself admitted during his interview with Block TV that he knew who pumped the BSV price in January.
The sum of all evidence indicated that only fewer players were participating in the BSV trade as of late. The growing centralization alone hints at an imminent price crash.
Mouthpiece Defends Rally
Countering the allegations, Bitcoin SV mouthpiece CoinGeek said their cryptocurrency emerged victorious mainly because of its “groundbreaking tech and rapidly growing ecosystem.” The publication also pointed out exchanges that delisted BSV last year for launching an unfair coordinated attack against the cryptocurrency. Excerpts:
”The recent surge in the market capitalization of Bitcoin SV proves the capacity of Bitcoin to continue leading the market. Considering this, it is clear that delisting Bitcoin SV only hurts the exchanges as there are several investors, miners, and ventures that continue to work for and with Bitcoin SV all around the world.”
But Simon Peters of eToro believes the BSV price rally is unsustainable. The research analyst explained in an interview with CoinDesk that traders purchase BSV because they believe the founder Mr. Wright is the real creator of the original Bitcoin protocol. But with him failing to prove the claim, again and again, their patience is wearing off.
CoinGeek, on the other hand, refers to Mr. Wright as the real Satoshi Nakamoto who is in possession of 1.1 million BTC. Speculators, meanwhile, believe Mr. Wright would dump all the bitcoin to pump BSV. The post appeared first on NewsBTC.
NewsBTC
Bitcoin Drops Below $10,000 as Support Wears Thin
Bitcoin (BTC) has once again found itself caught in the throes of a choppy trading range that provided little clarity as to whether or not it will begin venturing into the four-figure price region, or if it will begin climbing until it retests its year-to-date highs of ,800.
This choppiness has been largely centered around a battle between BTC bulls and bears that is currently ongoing, as the crypto continues to find some levels of support in the upper-,000 region.
Bitcoin Continues Finding Support Around ,000
At the time of writing, Bitcoin is trading down nearly 4% at its current price of ,020, which marks a deep pullback from its highs of just below ,500 that were set yesterday.
Today’s price drop has once again led the cryptocurrency back to ,000, which remains a key psychological support level. Although each dip below ,000 has been met with decent buying pressure, it does appear that this level may be weakening.
While looking at BTC’s weekly price action, some analysts have noted that its bullish response to its dip to ,800 this past Wednesday and yesterday’s surge to highs of ,500 may have been sparked by growing trade tensions between the U.S. and China, but the fleeting nature of this movement may have invalidated this theory.
“Today was the first time $BTC reacted sharply in *real-time* to a Trade War breaking headline or $USDCNY fix,” Alex Krüger, an economist, noted in a recent tweet while referencing the price surge that has since been erased.
Today was the first time $BTC reacted sharply in *real-time* to a Trade War breaking headline or $USDCNY fix. pic.twitter.com/Usibh3bSD5
— Alex Krüger (@krugermacro) August 23, 2019
BTC’s Key Support Levels May Be Wearing Thin
Although Bitcoin has been able to continue finding support around ,000, analysts are now noting that this support level may be wearing thin, which means that the crypto may soon drop to its next major region of buying pressure around ,800.
DonAlt, a popular crypto analyst on Twitter, spoke about Bitcoin’s recent price action in a tweet, explaining that its inability to post any sustained movement upwards signals that its short-term price action is bearish, and that its current support region may be “wearing thin.”
“$BTC daily update: Closed above mini resistance and immediately dumped off. That’s what I mean when I say choppy conditions. That said it never left the lower trading range, and as long it’s in there short-term bias has to be bearish. Support wearing thin here, in my opinion,” he said.
$BTC daily update:
Closed above mini resistance and immediately dumped off.
That's what I mean when I say choppy conditions.
That said it never left the lower trading range, and as long it's in there short term bias has to be bearish.Support wearing thin here, in my opinion. pic.twitter.com/3yzu3P0r1P
— DonAlt (@CryptoDonAlt) August 24, 2019
This weekend will likely be an illuminating time for BTC traders, as its reaction to its current bout of selling pressure will likely signal whether or not it is ready to climb higher in the near-term, or if further losses are imminent.
Featured image from Shutterstock.
The post Bitcoin Drops Below ,000 as Support Wears Thin appeared first on NewsBTC.
Bitcoin Steady at $10,800, Why do Analysts Think BTC is Still on Thin Ice?
Unlike previous weekends in this uptrend, Bitcoin (BTC) was rather mild on Saturday night and Sunday. As of the time of writing this, BTC has found itself trading for ,800 — down 5% from year-to-date highs, but up 1% in the past 24 hours. Simultaneously, altcoins have begun to slip, selling off against the market leader as investors flood to large caps.
Related Reading: Bitcoin Price Stabilizes Around ,700, But Analysts Believe a Surge Towards ,500 is Imminent
With this lack of immediate bullish continuation, some analysts have begun to fear that Bitcoin may, at least for the time being, be susceptible to a rapid drawdown. This is reminiscent of when BTC hit ,100 in late-May, which was a move that sparked concerns of a retracement.
Bitcoin is on Thin Ice
Bitcoin has had a stellar week. After wallowing under ,000 for weeks on end, the cryptocurrency began rallying, pushing past key resistances in a steady grind upward. By Friday night, BTC was poised to test ,000 — a level which commentators, like Fundstrat’s Tom Lee, believe is of utmost importance.
After steady itself under ,900 for a couple of hours, Bitcoin shot up, releasing a pent up burst of energy that catapulted it to and past ,000. And from there, BTC continued higher, to ,800 where it stands on Monday morning.
Despite this bullish price action, which analysts claim is a confirmation of a significant uptrend, a retracement is purportedly not off the table. On Sunday, NewsBTC reported that Saturday was BitMEX’s largest trading session ever.
Spotted first by analyst Joe McCann, Saturday’s session saw the derivatives exchange register over billion worth of trades — accounting for 10% of all volumes registered on Coin Market Cap. While this tacitly confirmed that cryptocurrency is back, BitMEX saw an unintended consequence from this historical flood of trading activity.
The Bitcoin-to-USD synthetic pair saw its funding rate (meaning how much holders of the contract need to pay) hit 0.2965% for every eight hours of trading. High funding rates for longs incentivize those holding their positions to sell, thus moving the price of BTC on BitMEX, which should affect the broader cryptocurrency market.
Funding for longs is incredibly high right now
Without continuing positive price action, a 100x long's margin is gone within a single day at current funding rates
I think alts provide a long opportunity if Bitcoin corrects pic.twitter.com/wo9vyn94SM
— Bitcoin 𝕵ack (@BTC_JackSparrow) June 23, 2019
Although the Bitcoin funding rate has already begun to decline for longs, falling by a smidgen above 50% to 0.14%/eight hours, historical precedent suggests a downturn for BTC may be in its cards.
McCann explained that the last time the funding rate was above around 0.3%/eight hours was on May 27th, almost exactly where the bullish trend temporarily reversed for the cryptocurrency market.
In fact, the astute analyst points out that after May 27th, a Doji candle (marked by long wicks, skinny body, and a similar open/close price) formed on the daily chart. Dojis, of course, often precede trend reversals, and the case seen in late-May was no different.
As you presumably remember, Bitcoin peaked around the 27th, just when the funding rate hit the 0.3%/eight hours range, and then corrected from eight days straight. During that move lower, which some cynics suggested was going to bring BTC back down to ,000 and lower, Bitcoin fell by 17%, all the way to ,434.
4/ A Doji candle formed on the daily timeframe and reversed hard after that before rallying again.
The high on May 27th was 64 at the peak of the funding rate daily session and then subsequently corrected for 8 days dropping as low as 34, or a 17% drop. pic.twitter.com/iEHwZA2q3o
— Joe McCann (@joemccann) June 23, 2019
There is no guarantee that the same will come to fruition today, but a 17% drop from current levels would bring the cryptocurrency down to ,000, which acted as key resistance during late-May and early-June.
This isn’t the only harrowing sign that has materialized in the Bitcoin market. When the CME opened its futures on Sunday afternoon (in North America), a large gap was opened, as BTC rallied on Friday and Saturday when traditional markets were closed.
Over the past few months, a number of these gaps have been opened, seemingly as a result of Bitcoin’s unexplainable propensity to rally on weekends rather than weekdays. The first two large gaps we saw, which formed in May, have been filled by large sell-offs.
Although some traders suggest that CME gaps don’t always need to fill, there remain two gaps — ,900 to ,800 and ,400 to ,000. There remains a chance that BTC could spike down to that level, even briefly, to fill those gaps that remain unspoken for.
It is important to note, however, that there have often been multiple days between the opening of the gap and the closing of said gap.
Back to back gaps.
Will they get filled? pic.twitter.com/BbzKzHCfy9
— Nunya Bizniz (@Pladizow) June 23, 2019
Decidedly in an Uptrend
Regardless of what exactly comes to fruition on the short-term charts, more and more indicators suggest that Bitcoin is decidedly in a long-term uptrend. Just recently, Financial Survivalism noted that the Ichimoku Cloud on Bitcoin’s weekly chart has turned “fully bullish”, as made extremely evident by a close above the red region of the indicator.
You’ve also seen the Moving Average Convergence Divergence (MACD) on Bitcoin’s one-month chart move ever closer to the green, a signal that was last seen prior to BTC’s rally from 0 to ,000.
The weekly $BTC cloud is now fully bullish pic.twitter.com/ZQvmiKW6CI
— Financial Survivalism (@Sawcruhteez) June 24, 2019
But seemingly most convincingly, analyst Josh Rager notes that the Super Guppy, an all-encompassing technical indicator that predicts trends, has flipped from red to green on Bitcoin’s three-day and one-week charts. Once this occurred during the last market cycle, BTC rallied for over 15 months straight, shooting past new highs seemingly month in, month out.
Featured Image from Shutterstock. Charts Courtesy of TradingView.com
The post Bitcoin Steady at ,800, Why do Analysts Think BTC is Still on Thin Ice? appeared first on NewsBTC.
Robotina: The Firm That Worked on World’s Biggest Thin Film Solar Installation Launches ICO
The annual global electricity consumption reached almost 20,000 TWh with an average price of 0.14 USD per KWh, annually. This sums up to USD 3 trillion per year, with commercial buildings consuming 40-50% of this amount and the reset by households.
Besides the growth in energy consumption, the key issues facing the power industry is the unpredictability of both demand and supply. The differential is further exacerbated by the inputs from renewables, which can sometimes generate excess energy or no electricity at all depending upon the weather conditions. The fluctuation in the overall supply translates to higher costs to both system operators and end users.
The varying power situation across the time of the day and seasons creates a need for substantial investments towards the development of new infrastructure and smart use of the existing ones. It is found that in order to sustain actual standard of living, it is necessary to reduce (per capita) and shift (in time) the consumption of electrical energy. Robotina, as a company has been providing households and businesses with the technology to do so.
Robotina’s cutting-edge technology in use has been tested, demonstrated and validated to help save 10-20% of the costs in the existing industry scenario. The company has been in operating in the sector for over 28 years now, and with all the experience, they have framed a vision where community members can collaborate to save and earn money while consuming electricity.
Robotina’s History and Past Partnerships.
The company started as a subcontractor before producing its own devices and gained experience and market share in Japan, India, the Middle East. Robotina’s strengths lie in electronic devices for control, management, and improvement of energy efficiency.
Robotina is now positioning itself as a smart devices and services player aiming at improving energy efficiency for both homes and businesses. They already offer hardware smart devices for remote data control and management, IoT software, and applications, a cloud-based computing platform for trading energy and services between producers, consumers. The products also include artificial Intelligence software for consumption forecasts and advice on how to save energy and costs.
Robotina developed and introduced its fully independent product in 2001. The products were distributed Programmable Logic Controller PLC systems for application in buildings, infrastructure, and remote management of renewable energy plants, smart grids, and smart cities. In 2007, the firm built its new headquarters, Research labs, manufacturing plant and warehouse in Hrpelje (Kozina), on the crossroads between Italy, Slovenia, Croatia, and Austria. Today, the company is a well-known comprehensive technology and solution provider both for final consumers and OEM, with a strategic focus on application, target market, and future orientation.
Robotina has substantial know-how in the field of smart building and cities. In 2004, they entered into a partnership with IMDAAD to carry out an ambitious project to establish a Network Operating System for the remote control and management of buildings, thus contributing to greater energy savings, lower operational costs, and increased energy efficiency. IMDAAD is the leading provider of integrated building management services in the United Arab Emirates. It supports over 1000 major buildings in Dubai and is responsible for turning Dubai into a Smart City. IMDAAD has been awarded for the best FM technological implementation of 2016 in the UAE.
Additionally, they also worked with SanRex and Panasonic to put into operation a complete monitoring and management system for the first two photovoltaic power plants, at the end of 2013. In another project with Microsoft, the firm worked on the Azure Cloud-Based Energy efficiency and fault detection system fully integrated with client BMS which helps deliver outstanding savings. The firm also worked on a thin film solar power plant monitoring system which used to be the biggest such installation in the world at the time of delivery. In the same fashion, Robotina is working on a new flagship, Smart Grid.
An All-inclusive Solution of Connected Internet of Things and Power Platform
Smart Grid is an electrical grid which allows connection of smart meters, smart consuming devices, communication, and optimization. To develop and deliver the technology that helps the community save and earn money while consuming electricity, the Robotina development team worked on integration with advanced blockchain technology. The Robotina platform –token crowdsale starts 21st March and ends 30th April 2018- will establish a Robotina Utility Token, ROX, a digital currency that when used, will give a 3% discount for all transactions within the Robotina platform.
ROX aims to become the main currency in the Smart Grid world, where vendors constantly dialogue and communicate with consumers to optimize the match between estimated demand and actual demand to achieve high profits and grid stability. This will reduce the cost of providing electricity and share part of this reduction with consumers. This outcome, paired with the backing of a well-established firm make the ROX token crowdsale a safe long-term investment for investors. The sale offers a platform for Robotina to collect subscriptions from supporters.
The Robotina platform will be an all-inclusive solution of the connected Internet of Things (IoT) and Power Platform (PP).The platform’s main task is to provide benefits to its users through Smart Rules, Artificial Intelligence, and Blockchain technologies. The platform will run from the cloud, available as a service. Devices and users connect to the Robotina Platform, which not only provides its services real-time, and with real-time/real-world data from IoT, but also uses them to provide real, measurable benefits to users and to the community.
Join the token sale at – https://www.robotinaico.com/
The post Robotina: The Firm That Worked on World’s Biggest Thin Film Solar Installation Launches ICO appeared first on NewsBTC.