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Thursday 31 January 2019

Buy Bajaj Finance; target of Rs 2900: ICICI Direct

ICICI Direct is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 2900 in its research report dated January 30, 2019.

from Moneycontrol Latest News http://bit.ly/2MES6tM

Hema Malini rejects party leaderâ€™s â€˜chocolate faceâ€™ comment on Priyanka Gandhi

Hema Malini, a BJP MP from Mathura, said â€œsexist remark should have no place in political dialogueâ€

from Moneycontrol Latest News https://www.moneycontrol.com/news/politics/hema-malini-rejects-party-leaderâ€™s-â€˜chocolate-faceâ€™-commentpriyanka-gandhi_12036281.html

Buy HDFC; target of Rs 2050: ICICI Direct

ICICI Direct is bullish on HDFC has recommended buy rating on the stock with a target price of Rs 2050 in its research report dated January 30, 2019.

from Moneycontrol Latest News http://bit.ly/2CZUiYG

Buy Apcotex Industries; target of Rs 540: ICICI Direct

ICICI Direct is bullish on Apcotex Industries has recommended buy rating on the stock with a target price of Rs 540 in its research report dated January 31, 2019.

from Moneycontrol Latest News http://bit.ly/2RYAoaD

Buy Apcotex Industries; target of Rs 540: ICICI Direct

Buy Ramco Cements; target of Rs 750: ICICI Direct

ICICI Direct is bullish on Ramco Cements has recommended buy rating on the stock with a target price of Rs 750 in its research report dated January 31, 2019.

from Moneycontrol Latest News http://bit.ly/2RYUz8y

Buy Ramco Cements; target of Rs 750: ICICI Direct

Next-gen Mahindra Thar once again spotted! This time in Punjab

The next-gen Thar is not up for launch until the second half of 2020 but that isn#39;t stopping the flow of spy pics and videos streaming in.

from Moneycontrol Latest News http://bit.ly/2TtjJZH

Hold Gati; target of Rs 75: ICICI Direct

ICICI Direct recommended hold rating on Gati with a target price of Rs 75 in its research report dated January 28, 2019.

from Moneycontrol Latest News http://bit.ly/2FYiGO5

Magma Fincorp Consolidated December 2018 Net Sales at Rs 624.73 crore, up 7.6% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2DJGrHb

Indiabulls Hsg Consolidated December 2018 Net Sales at Rs 4,236.80 crore, up 26.5% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2UsPdPB

Magma Fincorp Standalone December 2018 Net Sales at Rs 563.95 crore, up 13.17% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2DJDoPw

Indiabulls Hsg Standalone December 2018 Net Sales at Rs 3,819.81 crore, up 22.59% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2UtlJ3V

KZ Leasing Standalone December 2018 Net Sales at Rs 0.11 crore, up 118.5% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2DLIFWI

Vedanta to announce Q3 result today; here are key factors to watch out for

At operating level, EBITDA during the quarter is expected to decline 9-17 percent compared to year-ago period

from Moneycontrol Results News http://bit.ly/2FYY20r

Sagar Cement Consolidated December 2018 Net Sales at Rs 319.11 crore, up 27.95% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2GegzF9

IIFL Holdings Consolidated December 2018 Net Sales at Rs 1,790.33 crore, up 11.05% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2FZZKOP

Tata Comm Consolidated December 2018 Net Sales at Rs 4,269.47 crore, up 3.76% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2Gb1G6x

Mac Charles Consolidated December 2018 Net Sales at Rs 22.19 crore, up 32.21% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2FZ6wVk

Tata Comm Standalone December 2018 Net Sales at Rs 1,414.08 crore, up 11.69% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2GaESUC

Sagar Cement Standalone December 2018 Net Sales at Rs 232.36 crore, up 28.95% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2FYXMyv

Pioneer Distill Standalone December 2018 Net Sales at Rs 43.61 crore, up 29.68% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2GgocuZ

Bharat Elec Standalone December 2018 Net Sales at Rs 2,716.49 crore, up 8.11% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2FYXHLd

Contil India Standalone December 2018 Net Sales at Rs 1.92 crore, up 1677.62% Y-o-Y

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from Moneycontrol Results News http://bit.ly/2GaESE6

Crypto Market Wrap: XRP Surges Ahead of Ethereum by $2 Billion

Market Wrap

Crypto markets climb slowly higher, XRP surging, Bitcoin Cash and IOTA doing well, Tron and NEM fall back.

Crypto markets have continued a slow recovery process again today but one or two of the majors are showing a little more momentum. Total market capitalization has nudged above $115 billion but progress is far slower going up than it was coming down.

Bitcoin is stuck at its new resistance level of $3,500 and it cannot overcome it. It has climbed about a percent on the day by further gains look unlikely. Daily volume for BTC has remained at $5.8 billion but market dominance has dropped back below 53%.

Ethereum has clawed back 3.5% to take it to $110 but it remains weakened. The market cap gap to XRP in second has doubled to $2 billion now as the Ripple token is on a flyer. On the news that SWIFT has partnered with R3, which has a blockchain product using XRP, the token has surged 12% on the day. CEO Brag Garlinghouse met with SWIFT boss in Paris to discuss the future of cross border transactions but no direct partnerships were mentioned. Either way XRP is the only altcoin in the top fifty gaining double digits as daily volume doubled to $880 million.

In the top ten Bitcoin Cash has also made a big move with a jump of 7% during the day’s Asian trading session. This has enabled BCH to flip Tether and retake fifth spot chasing down EOS which has only scrambled 2.5% back. Stellar has fared a little better with a 3% gain and Tron is the only coin in the red in this section with a loss of 1.5%.

The top twenty is also mostly green and the top movers here is Iota with 5% flipping Monero for 13^th place. The rest have gained around 1 – 2 percent on the day aside from Nem which has slid back 2.5%.

The exceptionally erratic Buggyra Coin is pumping again today with a fomo induced 20% gain. XRP is the only other altcoin making double figure progress today. BCH is also up there as one of the day’s top performers. There are no big dumps going on but those at the messy end of the table include Holo and Waves.

Total crypto market cap has inched another 1.8% higher as it crosses $115 billion. The move is largely down to XRP momentum as action has been limited elsewhere. Crypto markets have yet to recover from Monday’s $7 billion dump which indicates further pain could be forthcoming.

Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals

The post Crypto Market Wrap: XRP Surges Ahead of Ethereum by $2 Billion appeared first on NewsBTC.

from NewsBTC http://bit.ly/2SifVNg

Bitcoin Price Watch: BTC Rebound Reaching Crucial Juncture

Bitcoin price started a short term rebound and broke the $3,400 resistance level against the US Dollar.
This week’s followed major bearish trend line was breached with resistance at $3,440 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is now approaching a few important resistances, including $3,475, $3,500 and $3,516.

Bitcoin price recovered nicely from the $3,340 swing low against the US Dollar. However, BTC price is still below a few key hurdles near the $3,475 and $3,500 levels.

Bitcoin Price Analysis

Recently, bitcoin price formed a decent support near $3,360 against the US Dollar. The BTC/USD pair started a short term rebound and moved above the $3,400 resistance zone. Buyers managed to overcome selling pressure above the $3,400 and $3,420 pivot levels. The price climbed above the 50% Fib retracement level of the last slide from the $3,560 high to $3,345 swing low. It opened the doors for more gains and the price spiked above $3,450 and the 100 hourly simple moving average.

More importantly, this week’s followed major bearish trend line was breached with resistance at $3,440 on the hourly chart of the BTC/USD pair. The pair tested the $3,475 resistance area, where sellers emerged. Besides, the 61.8% Fib retracement level of the last slide from the $3,560 high to $3,345 swing low acted as a resistance. The price is currently consolidating gains near $3,440 and the 100 hourly SMA. On the downside, there is a decent support formed near $3,420. There is also a connecting bullish trend line formed with support at $3,410 on the same chart. Therefore, buyers could protect declines below $3,400 if there is a downside correction.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price made a nice upward move above $3,400. Having said that, the price is still trading below a few important resistances, including $3,475, $3,500 and $3,516. Unless there is a daily close above $3,516, the price remains at a risk of a fresh drop.

Technical indicators

Hourly MACD – The MACD is likely to move back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 50 level.

Major Support Level – $3,410

Major Resistance Level – $3,516

The post Bitcoin Price Watch: BTC Rebound Reaching Crucial Juncture appeared first on NewsBTC.

from NewsBTC http://bit.ly/2TplUgv

Crypto Market Rebounds: Bitcoin Cash, EOS, Stellar (XLM), Tron (TRX) Price Analysis

The total crypto market cap rebounded nicely and tested the $114.00B resistance level.
Bitcoin cash is up more than 7% and it broke the $115 and $116 resistance levels.
EOS price is gaining momentum and it could test the $2.40 resistance level.
Stellar (XLM) is correcting higher, with resistances near the $0.0900 and $0.0940 levels.
Tron (TRX) is currently flat above the $0.0270 support level, with range moves.

The crypto market started a solid rebound from lows. Bitcoin (BTC), BCH, Ethereum, EOS, ripple, stellar (XLM), tron (TRX) and other major altcoins gained momentum, with positive moves.

Bitcoin Cash Price Analysis

Bitcoin cash price formed a solid support near the $110 level and later corrected higher against the US Dollar. BCH/USD gained traction and broke $115 and $116 resistance levels. The price is currently trading just below the $120 resistance level.

Going forward, there are chances of more gains above the $120 and $122 resistance levels. On the downside, the main supports are $116 and $115.

EOS, Stellar (XLM) and Tron (TRX) Price Analysis

EOS price tested the $2.20 support level recently and later started a decent recovery. It broke the $2.25 and $2.30 resistance levels, and now it seems like the price might climb towards the $2.40 resistance level.

Stellar price broke the $0.1000 support level recently and moved into a bearish zone. XLM tested the $0.0820 support and it is currently correcting higher. However, there are many hurdles for buyers on the upside such as $0.0900 and $0.0940.

Tron price is currently consolidating above the $0.0270 support level. TRX needs to surpass the $0.0280 and $0.0285 resistance levels to start a fresh upward move. If it fails to move pas $0.0285, there is a risk of a downside move towards the $0.0265 support level.

Crypto Market Cap, Bitcoin (BTC), BCH, Ethereum, EOS, ripple, stellar (XLM), tron (TRX)

Looking at the total cryptocurrency market cap hourly chart, there was a solid recovery above the $108.00B and $110.00B resistance levels. The market cap even broke the $112.00B resistance and tested the $114.00B zone, where sellers emerged. In the short term, there could be a downside correction, but there are many supports near $111.00B and $110.00B. Therefore, dips in bitcoin, Ethereum, EOS, ripple, LTC, bitcoin cash, XLM, TRX, and other altcoins remain supported.

The post Crypto Market Rebounds: Bitcoin Cash, EOS, Stellar (XLM), Tron (TRX) Price Analysis appeared first on NewsBTC.

from NewsBTC http://bit.ly/2Wv76yS

Ripple Price Analysis: XRP’s Trend Overwhelmingly Bullish Above $0.3200

Ripple price rallied recently and broke the $0.3000, $0.3150 and $0.3250 resistances against the US dollar.
There was a break above two bearish trend lines with resistance near $0.2920 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair traded above the $0.3320 level and it is currently correcting gains towards the $0.3210 support.

Ripple price jumped back sharply in the bullish zone against the US Dollar and Bitcoin. XRP/USD is trading with a positive bias and dips remain supported near $0.3200.

Ripple Price Analysis

After forming a solid support base near $0.2800, ripple price started a strong recovery against the US Dollar. The XRP/USD pair rallied and broke many important resistances such as $0.3000 and $0.3150. Buyers were able to clear the 61.8% Fib retracement level of the slide from the $0.3175 high to $0.2776 low. It opened the doors for more gains and the price settled above $0.3150 plus the 100 hourly simple moving average.

More importantly, there was a break above two bearish trend lines with resistance near $0.2920 on the hourly chart of the XRP/USD pair. The pair surpassed the $0.3200 and $0.3250 resistance levels to move into a positive zone. The recent price action was positive above $0.3300 and the price formed a new weekly high at $0.3338. It is currently correcting lower towards the $0.3240 and $0.3210 supports. The 23.6% Fib retracement level of the recent wave from the $0.2827 low to $0.3338 high is near $0.3215 to act as a support. Moreover, there is a connecting bullish trend line in place with support at $0.3210 on the same chart.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is placed nicely in an uptrend above the $0.3200 and $0.3210 support levels. There could be a short term downside correction, but the price remains supported above $0.3150. On the upside, the key resistances are $0.3320, $0.3350 and $0.3420 in the near term.

Technical Indicators

Hourly MACD – The MACD for XRP/USD has reduced most of its bullish slope, signaling a downside correction.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently moving lower towards the 70 level.

Major Support Level – $0.3210

Major Resistance Level – $0.3320

The post Ripple Price Analysis: XRP’s Trend Overwhelmingly Bullish Above $0.3200 appeared first on NewsBTC.

from NewsBTC http://bit.ly/2DJuzFo

Ethereum Price Analysis: ETH Bullish In Short Term Above $106

ETH price recovered recently and broke the $105, $106 and $109 resistance levels against the US Dollar.
Yesterday’s highlighted important bearish trend line was breached with resistance near $106 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is now placed nicely above the $106 level and it could recover towards the $113 or $114 level.

Ethereum price started a short term correction against the US Dollar and bitcoin. ETH/USD remains supported for a recovery towards the key $114 resistance level in the near term.

Ethereum Price Analysis

After trading as low as $101, ETH price started trading in a range above $103 against the US Dollar. The ETH/USD pair formed a couple of breakout patterns with resistance near the $105 and $106 levels. Finally, there was an upside move and the price broke the $106 resistance. Buyers pushed the price above the 50% Fib retracement level of the last drop from the $115 swing high to $101 swing. Moreover, the price traded above the $106 level and the 100 hourly simple moving average.

Besides, yesterday’s highlighted important bearish trend line was breached with resistance near $106 on the hourly chart of ETH/USD. The pair spiked above the $109 and $110 resistance levels and later corrected lower. It is currently testing the 23.6% Fib retracement level of the recent wave from the $103 low to $111 high. However, there are many supports on the downside near the $107 and $106 levels. More importantly, the 100 hourly simple moving average is near the $107 level. The 50% Fib retracement level of the recent wave from the $103 low to $111 high is also near $107.

Ethereum Price Analysis ETH Chart

Looking at the chart, ETH price may dip a few points in the short term, but it remains supported near $107 and $106. It seems like the price could recover towards the $113 and $114 resistances, where sellers are likely to emerge.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is about to move back in the bearish zone.

Hourly RSI – The RSI for ETH/USD is placed nicely above the 60 level, with positive signs.

Major Support Level – $107

Major Resistance Level – $114

The post Ethereum Price Analysis: ETH Bullish In Short Term Above $106 appeared first on NewsBTC.

from NewsBTC http://bit.ly/2DLswR9

Financial Advisor: Major Banks are 3,233% More Expensive Than Bitcoin

A financial professional paid $10 to his bank for making more than six saving withdrawals. Later, he admitted that using Bitcoin could have been cheaper.

Short the Bankers

Pat Chirchirillo, a financial advisor at Philadelphia-based McAdam Financial, found a 3,233% different between the cost of withdrawals in banks and Bitcoin. From the look of it, he overreached his withdrawal limits, per a Federal rule called Regulation D which limits per saving account withdrawals by month. As a result, his bank – Bank of America – charged him a $10 fee as an act to ensure that Chirchirillo uses his savings account for just saving.

However, he took the opportunity to compare the banking system with cryptocurrencies like Bitcoin.

“Bank of America just charged 10 dollars because I made more than [six] transfers between savings and checking this month,” tweeted Chirchirillo. “[Six] transfers with crypto would cost about 30 cents. That’s 3,233% more expensive.”

Bank of America just charged 10 dollars because I made more than 6 transfers between savings and checking this month. 6 transfers with crypto would cost about 30 cents. That's 3,233% more expensive

Long Bitcoin, short the Bankers @APompliano #disruption #RentSeekingMiddlemen

— Pat Chirchirillo (@PatChirchirillo) January 30, 2019

“Long Bitcoin, short the Bankers,” he added.

Comparing Regulation D with Cryptocurrency Protocols

Regulation D is a way of the Fed to ensure that people practice savings more than spendings. The protocol also warrants that banks have a proper amount of currency reserves. This law applies only to people with savings accounts and excuses checking account holders. Like always, breaking it lands a penalty/fee on the concerned savings account holder.

On the other hand, a common cryptocurrency protocol such as that of bitcoin does not cater to the Federal securities laws. Its entire purpose is to settle and record payments over a decentralized network, using a native token which can be Bitcoin, Ether, XRP, or even a stablecoin. In it, the transactions are entirely peer-to-peer. For every settlement that occurs in a cryptocurrency network, users voluntarily add a fee for miners to speed-up their transaction confirmation time.

Also, in cryptocurrency networks, each transaction consists of inputs which determine how much resources it would require to get verified. For instance, sending 1 Bitcoin which has four inputs would require fee than sending 1 Bitcoin which has one input.

75 Bitcoin Transactions in $10

In retrospective, cryptocurrencies are much more accessible than banks. Using a bitcoin network, it would take Chirchirillo as low as 75 transactions to pay a $10 fee. In the case of banks, as mentioned above, it just took six.

Banks are still considered too expensive. It is never a piece of good news when 1.7 billion people still do not have access to essential financial services. The Financial Clinic, a business coaching nonprofit, recommended its customers to rely on alternative payment mechanism than banks. The clinic’s executive director Mae Watson Grote had told New York Times in 2014:

“When I sat down and looked at my clients’ bank statements and saw that they had paid $110 in fees, I often ended up sending them to the check casher instead.”

Only now, in 2019, a financial advisor sent people to cryptocurrencies instead.

The post Financial Advisor: Major Banks are 3,233% More Expensive Than Bitcoin appeared first on NewsBTC.

from NewsBTC http://bit.ly/2Tn5Bkx

Professionalism in Crypto is Desperately Needed and Gemini is Setting Industry Standards

This week, prominent U.S.-based crypto exchange Gemini revealed it had become the first-ever cryptocurrency exchange and custodian to successfully complete a System and Organization Controls (SOC 2) for Service Organizations Type 1 examination.

The SOC 2 examination was conducted by “Big Four” auditor Deloitte & Touche LLP, and helps cement Gemini’s reputation for pushing the envelope for cryptocurrency compliance and regulation, and its status as an industry standard-setting leader in the crypto space.

Gemini Completes SOC 2 Exam, Proving Compliance and Security Prowess

SOC 2 reviews are a financial industry standard for determining if a service organization – such as an exchange – are up to speed on security compliance, and are equipped to keep customer’s funds safe. Currently, only Gemini has the bragging rights that their exchange demonstrates a high enough level of security to pass Deloitte’s review.

Gemini says that the exchange was built with a “security-first mentality from the start,” allowing the exchange to easily meet the benchmarks in Deloitte’s examination, which are set by the American Institute of Certified Public Accountants.

The SOC 2 explored Gemini’s infrastructure, exchange application, customer database, and the exchange’s “institutional-grade cryptocurrency storage system.”

Gemini’s goal with the review was to provide additional assurance for investors and regulators alike that any funds stored on the exchange are safe and secure – something that is desperately needed in an industry plagued with record-breaking levels of hacks and theft. The firm also plans to conduct the review annually, and is seeking a SOC 2 type 2 examination some time in 2019.

Gemini Is Setting the Bar for the Crypto Industry

Gemini co-founders Cameron and Tyler Winklevoss are early Bitcoin supports and are among the few executives who are working tirelessly to elevate the crypto industry both in the eyes of investors, as well as in the face of key financial market regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission.

In addition to the recent SOC 2 completion, Gemini also offers digital asset insurance from London-based global professional services company Aon. According to a press release, Gemini was approved after “demonstrating to underwriters that the company is a leading, best-in-class exchange and custodian.”

The insurance provides peace of mind for investors using the Gemini platform, as any assets stored on the exchange are covered by Aon. Gemini also insures USD deposits through the Federal Deposit Insurance Corporation that often insures the funds at traditional institutions such as banks and credit unions.

The Winklevoss twins are also in support of cooperating with regulators to improve the state of the crypto industry. Last year, the twins proposed the creation of a Self-Regulatory Organization that could help govern the crypto industry in the United States, and alleviate regulator’s concerns that the crypto industry is rife with risk for investors.

The duo were also said to have attended a closed-door meeting with executives from Nasdaq and more to discuss further legitimizing the industry.

Gemini’s work to improve the overall industry is desperately needed during a time when cryptocurrency exchanges are repeatedly hacked, and crypto-related theft climbs to new heights.

The post Professionalism in Crypto is Desperately Needed and Gemini is Setting Industry Standards appeared first on NewsBTC.

from NewsBTC http://bit.ly/2S0k8FW

Ripple (XRP) Surges Amidst Widespread Crypto Market Recovery

Earlier this week, the crypto markets experienced a bloodbath that was the direct result of Bitcoin failing to hold above its support level that existed around $3,550. Bitcoin’s ensuing drop led most cryptocurrencies to plunge 10% or more, from which many of them have since recovered. Ripple (XRP) is currently leading the markets, but most other cryptos have also seen decent gains today.

Today’s upwards price surge may signal that the markets are going to start a fresh upwards trend following their recent drop.

Ripple (XRP) Surges Over 10%, Leads Today’s Recovery

At the time of writing, Ripple is trading up over 11% at its current price of $0.323. Earlier this week, XRP dropped to lows of $0.28, which proved to be a region of significant buying pressure for the cryptocurrency, as it quickly surged after trading sideways around this price point.

Mati Greenspan, the senior market analyst at eToro, said in a recent tweet that XRP led today’s crypto market surge, as its price moved about five minutes before other cryptos began climbing.

“Indeed, it does appear that $XRP is leading the current rally… Check the green line in this chart, started to surge about 5 minutes before the rest of the pack,” he said.

Indeed, it does appear that $XRP is leading the current rally.

Check the green line in this chart, started to surge about 5 minutes before the rest of the pack. pic.twitter.com/5t3fkvOXxM

— Mati Greenspan (@MatiGreenspan) January 30, 2019

Other popular cryptocurrency analysts on Twitter also discussed XRP’s price surge, with Hsaka noting that 18 days of losses were reversed in a mere hour.

“$XRP… 18 days of a slow grind down completely undone in one hour,” he said.

$XRP

18 days of a slow grind down completely undone in one hour.#XRPTheStandard pic.twitter.com/yRyn8Uuol2

— Hsaka (@HsakaTrades) January 30, 2019

Historically, XRP has made massive price swings, both upwards and downwards, and is viewed by some analysts as a predictor for how the rest of the markets are going to move. If this is the case currently, other cryptocurrencies could also see a significant price surge in the coming hours or days.

Entire Crypto Market Recovers Slightly

Although XRP’s double digits gains remain unmatched, most other major cryptocurrencies are seeing decent gains today.

Most cryptocurrencies have posted a decent recovery following the recent volatility in the markets.

At the time of writing, Ethereum is trading up nearly 3% at its current price of $109. Yesterday, analysts had noted that ETH was reaching a point at which it would either break upwards or downwards, and today’s move could spark a more positive price trend for the cryptocurrency in the near-term.

“$ETH at that sweet spot where you could justify a long or short entry… though typically a consolidation pattern like this results in continuation,” The Crypto Dog, a popular cryptocurrency trader on Twitter, said prior to today’s price climb.

$ETH at that sweet spot where you could justify a long or short entry.

…though typically a consolidation pattern like this results in continuation. pic.twitter.com/Us4adgG3MH

— The Crypto Dog (@TheCryptoDog) January 30, 2019

Bitcoin Cash (BCH) is also having a good day, as it is trading up over 6% at its current price of $118.60. BCH is up from its weekly lows of $109 that were set earlier this week. Although BCH is recovering from its latest drop, it is still down from its seven-day highs of over $130.

Featured images from Shutterstock.

The post Ripple (XRP) Surges Amidst Widespread Crypto Market Recovery appeared first on NewsBTC.

from NewsBTC http://bit.ly/2sXj5YE

Analyst: Bitcoin (BTC) Likely to Climb Back Above $3,500 After Finding Support at $3,400

Earlier this week, Bitcoin (BTC) failed to uphold its previously established support level around $3,550, which led to a sharp drop to $3,400. Although at the time of this drop many analysts expected BTC’s main region of support to exist around its 2018 lows at approximately $3,200, the cryptocurrency was able to find support at $3,400.

Because Bitcoin has established $3,400 as a level of support for an extended period of time, it may soon be able to climb back above $3,500, which could lead to further upside.

Bitcoin Nears $3,500, May See Further Gains If It Breaks Above this Price Level

At the time of writing, Bitcoin (BTC) is trading up 1% at its current price of $3,485. This past Tuesday, BTC plunged from $3,480 to $3,400, which marked a continuation of its downwards momentum that first started on Sunday when Bitcoin fell to $3,450 from $3,600.

As previously discussed, analysts have concurred that Bitcoin was caught in a trading range between $3,550 and $4,200 prior to its recent drop. If it is able to reclaim this trading range, it would signal that its bulls were not ready to let it revisit its 2018 lows, which could lead to a change in its momentum and help move it towards the upper end of this range.

“It seems now, that bitcoin has opened a new mini-range within that from $3,550 to approximately $4,200,” Mati Greenspan, the senior market analyst at eToro, said in an email from earlier this month.

Because the cryptocurrency found support at $3,400 and has climbed up gradually ever since, analysts now believe it may be able to break above $3,500, which could open the door for another upwards move towards the top of its previously established trading range.

Hsaka, a popular cryptocurrency analyst on Twitter, spoke about Bitcoin potentially breaking above its current level of resistance that exists around $3,500, concisely saying:

“$BTC… Think we see 3500+ soon.”

$BTC

Think we see 3500+ soon. pic.twitter.com/5wZQJ7UpLO

— Hsaka (@HsakaTrades) January 30, 2019

Bitcoin Could Drop into $2,000 Region if it is Unable to Hold Above $3,300, Claims Analyst

Although a decisive break above $3,500 would be bullish in the short term, and could lead to further price gains, other analysts have warned that a drop below approximately $3,300 could be dangerous for BTC, and lead to a greater drop towards $2,000.

Bitcoin may see a large drop if it is unable to hold above $3,300 in the near-term.

DonAlt, another popular crypto analyst on Twitter, explained Bitcoin’s current price action in a recent tweet, noting that it is currently in a trading range between roughly $3,300 and $3,800, with a drop below the former price opening the gates for a significant plunge.

“$BTC daily upd.: Sitting in the last buy zone b4 new lows… Cut some of my buys due to the breach of the top of the zone… Looking to re-add them if it is reclaimed… If green fails I expect a quick move into the 2k’s…If it holds 4k is on the cards,” he said.

$BTC daily upd.:

Sitting in the last buy zone b4 new lows.
Cut some of my buys due to the breach of the top of the zone.
Looking to re-add them if it is reclaimed.
If green fails I expect a quick move into the 2k's.
If it holds 4k is on the cards.

S: 3340 & 2600~
R: 3700 & 4000 pic.twitter.com/Q2opt7P89H

— DonAlt (@CryptoDonAlt) January 30, 2019

While considering the above opinions from cryptocurrency analysts, it does appear that Bitcoin is establishing fresh levels of support and resistance that will likely be tested and further established over the coming days.

Featured images from Shutterstock.

The post Analyst: Bitcoin (BTC) Likely to Climb Back Above $3,500 After Finding Support at $3,400 appeared first on NewsBTC.

from NewsBTC http://bit.ly/2SeUsF2

Bitcoin and Crypto Has Introduced Millennials to Investing in Markets, Despite Fears

The digital asset strategist and director at VanEck subsidiary MV Index Solutions believes that Bitcoin and other crypto have introduced investing in markets to a “new generation of investors.”

While the executive didn’t explicitly call out millennials in his comments, data shows that millennials have gravitated more to crypto markets while showing a strong reluctance toward traditional markets such as stocks and real estate. However, the education and exposure Bitcoin and crypto provides could cause young investors to try their hand in other markets.

VanEck Exec: Bitcoin Created First-Time Investors, Provides Education

Crypto and Bitcoin’s meteoric rise in 2017 captured the interest of the mainstream media, along with the attention of millennials enamored with the convergence of technology meets investment vehicle.

The digital asset strategist and director for the MV Index Solutions subsidiary of VanEck – the firm behind the now infamous Bitcoin ETF proposal that was recently pulled due to the United States government shutdown – Gabor Gurbacs, believes that Bitcoin and other crypto have caused “many people learn about markets, investing, charting, fundamentals, gold, safe havens & other economic concepts for the first time.”

Thanks to Bitcoin and digital assets, I believe, many people learn about markets, investing, charting, fundamentals, gold, safe havens & other economic concepts for the first time. This is a phenomenal form of education & experience that will shape a new generation of investors. pic.twitter.com/KbGNl4DXQM

— Gabor Gurbacs (@gaborgurbacs) January 27, 2019

He calls the sudden interest in investing thanks to crypto a “phenomenal form of education & experience that will shape a new generation of investors.”

Millennials Fear Other Markets, Yet Embrace Crypto With Open Arms

Millennials for one reason or another, are more apt to invest in risky, unproven assets such as cryptocurrencies over traditional markets such as the stock market or real estate.

Data suggests that only 33% of millennials are investing in the stock market, as opposed to their older counterparts. As much as 51% of generation Xers and 48% of baby boomers have invested in the stock market by comparison.

The same can be said about another traditional investment market: the real estate market. Real estate purchases have been trending down year over year, thanks in part to millennials reluctance to invest in real estate, opting instead to rent.

In fact, only 48% – a record low – of millennials believe that buying a home is a good investment. Analysts attribute this lack of home buying in millennials due to entering the workforce late, often carrying significant student debt, and getting married and starting their families much later in life than their older counterparts. 21% of U.K. millennials also claimed they’d rather invest in Bitcoin than real estate.

Over 82% of millennials suggest that their fear of investing was due to the Great Recession, where they witnessed their family’s and the public’s wealth evaporate into thin air over bank bailouts and the like.

Bitcoin was created out of the ashes of the Great Recession, and its aspirations align with millennials distrust in traditional finance. Millennials also grew up alongside the dot com boom, and watched the internet develop from a misunderstood and demonized technology – much like crypto today – become a mainstay of everyday life, so it comes as no surprise that millennials are welcoming to investing in crypto versus other markets.

However, given that crypto has exposed young investors to markets, charts, and more as Gurbacs suggests, it could help millennials become more comfortable with investing in more traditional means.

The post Bitcoin and Crypto Has Introduced Millennials to Investing in Markets, Despite Fears appeared first on NewsBTC.

from NewsBTC http://bit.ly/2B9JtDe

Living on Bitcoin Day 7: A Supposedly Fun Thing I’d Definitely Do Again

This is the seventh instalment of reporter Colin Harper's "Living on Bitcoin" experience in San Francisco. Find out what happened to him earlier on Day 1 , on Day 2 , on Day 3 , onDay 4, on Day 5 and on Day 6.

I woke to the sound of thin but consistent rain against the sailboat. A gentle storm soon rolled in to softly rock the harbor’s rustbucket bedfellows, a few spurts of lightning distant and crackling across the bay.

Dustin wasn’t up yet so I made a cup of coffee (gods be praised) and went above the deck of the Velela — the name Dustin’s sailboat came with when he bought it four years ago. The previous owner (a marine biologist) was inspired by the jellyfish of the same name, which can hoist a sail-like fin in the air to propel itself more quickly through the water.

The Velela resting in the harbor.

After Dustin got up (and we wolfed down some bacon-n-egg burritos), we made preparations, which included stuffing a rubber skiff into his Honda Fit, and we set out on the open water. The day was graying as we left the docking area, with a misting of rain so faint you could barely feel it on your skin.

Once we’d motored out far enough, Dustin hoisted the sails. Swelling with the bay’s untamable winds, the sails vaulted us forward and pushed the boat to the right — a bit more than I would have liked.

“This is safe, right? It’s not going to tip over?” I asked apprehensively.

“I wouldn’t exactly call sailing a safe activity,” Dustin said with a smile that managed to be both carefree and severe.

“But it’s not going to tip over, is it?”

“Probably not,” he joked. “But really, there’s a huge weight in the middle of the hull, so we’ll be fine.”

We were headed for the city’s waterfront, a 10-mile trek, give or take. The wind was against us, though, so we had to get there by tacking, a maritime navigation technique that involves sailing diagonally with the wind and cutting an angle to switch back toward your destination (basically making a zigzag pattern).

Roughly 10 miles out from San Francisco, the city’s skyline faintly visible to the right.

Dustin pulled out what he called the autohelm, a smart tablet ((Even the boats in Silicon Valley have iPads) that keeps track of speed, depth, GPS, trajectory and supposedly can even steer the ship using this USB-plunger attachment on the wheel, which looks uncannily like the suction sections of those automatic pumps for milking cows.

He put it to work, the mechanic whir and churn of the plunger struggling to keep the boat on course as the weather worsened. I had the feeling that, under conditions, the autohelm would have performed admirably.

The heavy force of the wind and waves, though, eventually overpowered the automaton’s control over the boat. Dustin “fired” it and took the wheel.

Looking out to my right, I noticed a blackened cloud, dark and gnarly, billowing up, the kind that looks ready to dump at any moment. The rain was falling a bit more steadily (though not too heavily), and the wind was picking up, causing the waves to chop savagely away at the haul.

Before I could convey my concerns, Mother Nature decided to blow them into the open. A gust of wind bruised the sails and sent the ship tipping and the cabin’s contents flying below. The ship was at an angle when the clatter of Dustin’s belongings became audible as they were flung about below.

Should have kept that skiff at hand. And now that I think about it, where are the life vests?

“Let out that line!” Dustin commanded, taking on the urgent persona of a captain as he strained to turn the boat against the lean. “As much as you can!”

I released a line connected to the bow’s sail and it went slack. Dustin rushed to the midsection while I took over the wheel and he let down the mainsail, finally disarming the wind. The entire ordeal, which felt like it took some time, probably lasted a minute at most.

“I think we should turn back,” I observed brilliantly.

“You think so?” he said with a heave of nervous laughter.

We got back (thankfully) right before the boat’s motor died, but we were still eight spots away from Dustin’s space in the dock. With the help of two good samaritans, we towed the sailboat back to its place with painstaking attentiveness. Dustin didn’t relax until she was safely moored.

“Whew! I’m still up on adrenaline!” he hollered when the boat was docked

Most people get stressed into a knot when their car battery dies. Imagine that happening except it’s a boat in open water and it almost capsizes. Oh, and the boat is also your house.

I said goodbye to Dustin over another burrito and sent him some sats for the trouble. After we parted ways, I grabbed a Lyft and headed just south of the Tenderloin district to cryptografitti’s place.

The apartment is on brand for an artist. Sterile, with neutral tones of chrome and white across each room, the flat was extremely well kept. Art of various styles decorates the place: a postmodern painting detailing San Franciscan life, which he had commissioned by a local artist, hangs above a tannish-brown, leather sectional; a puzzle-piece coffee table to accompany the couch; and a metal-matted two-piece fixture in the kitchen with a surface that looks like cells under a microscope that his sister made for him;.

And, of course, his own art is on display in his studio.

One original, United Nodes x 100, hangs directly behind his work desk, while two variants of Currency Exchange lie in the back-left corner and on the desk. Next to the one on the desk is one of his latest: the abstract of the Bitcoin white paper made from USD.

The rest of his office is lined with shelves that are stuffed with various supplies, including the white gloves he wears in each of his videos. On one of the shelves, a bag of hundreds of credit cards for a piece he made to commemorate the late Hal Finney. I was curious as to how he got his hands on that many cancelled credit cards.

“It’s a trade secret. They’re all used,” he said. (You can buy them on eBay, by the way).

We talked art, bitcoin culture and the experiment in a conversation that seemed to intertwine all these topics together.

“To me, it’s all about teaching people about bitcoin through art. I wanted to anchor the work in something that people were already familiar,” he said.

He’s certainly made an impact. The former DJ subsists off the money he makes from his art, and he takes regular commissions, mainly from wealthy, fellow enthusiasts who want an original of the subversive fusion of fiat and digital economies that cryptografitti’s art represents.

“I want to remind people that the materials I use in the work are short-lived and, therefore, so is the entire status quo. And if the old monetary realm is no longer, what should the new one look like and why?”

Carrying on the conversation we had the night before at Stookey’s, he said again that it’s not all that surprising fewer merchants accept bitcoin now. The party’s over and everyone’s gone home. The people who were just there for the good times left with the bull market; but, in the bear, the people who really give a damn are sticking around to deal with the aftermath.

“It’s like when you have a party and your good friends stick around afterward to help clean up after the revelers have left. Go to Bitcoin meetups nowadays and you’ll find the people that care and are willing to put in the work,” he said.

He doesn’t think enthusiasm is dead, it’s just dampened and embodied in a very dedicated core community.

“The excitement is still there, it’s just shifted focus to Lightning,” he said. It’s likely that Lighting is the very thing that may make my experiment easier, if I choose to do it again in the (distant) future.

Black Swan, one of his latest pieces, exemplifies this excitement. The Lightning Network-only auction had 100 plus participants and sold to the lowest bidder — less than 1/100th of a penny. Part-performance, part-visual art, cryptograffiti said he wanted the piece to provoke people to appreciate innovation without fretting about price.

“My work is rooted in activism. When I can motivate people to get involved, it brings more awareness to whatever I am trying to convey. In this case, a lowest-bidder-wins auction was my way of ensuring participation/reach in the project while highlighting the capabilities of the lightning network.

“The fancified promo video that accompanied the art was meant to contrast with the absurdly low micropayments and poke fun at MSM who tend to focus more on price than the groundbreaking tech being built,” he said.

Catching a few hours of R&R, I still had one thing to do before I could call the week quits. I couldn’t get a room at 20 Mission due to San Francisco boarding codes, but I was still game to visit the hacker community house that Kashmir Hill shacked up in during the weekend of her week on bitcoin. I had made arrangements with Berkeley, the community’s head honcho, to visit that night.

The Uber that took me there was yet another Prius, the fifth (maybe sixth) I’ve ridden in this week.

I buzzed myself in with the house’s callbox, entered the foyer and made my way upstairs to a labyrinth of hallways and rooms (the community houses 40 or so people).

A resident came in shortly after, toting an LED-glowing electric unicycle that had an extended handle like a rolling suitcase. I asked him if he knew where Berkeley was, and he pointed me in the right direction.

We made introductions and Berkeley offered me a La Croix, another in a set of San Franciscan constants that include whole bean coffee, 20-somethings ripping Juuls, and Uber rides in Priuses.

Berkeley actually helped Jered Kenna, the cofounder and now owner of 20 Mission, found Tradehill, a once-upon-a-time bitcoin exchange that accounted for 15 percent of the coin’s daily trading volume back in the day when Mt. Gox accounted for 80 percent.

He reiterated some of what Hill talks about in her piece: how 20 Mission was much worse for wear before Kenna first cleaned it up.

“Before that it was basically a seedy crack hotel. Squatters lived there, but it was abandoned for something like 18 years,” said Berkeley.

As we talked, we walked around the house and I surveyed the murals that decorated each hallway. Local artists had done them, including the ones that enliven the house’s glorified courtyard: an open-air space in the middle of the building that’s accessible only through windows and is floored with roofing tiles.

One of the house’s many murals.

At the corners of some of the hallways, street signs with titles like “Litecoin Lane,” “Ethereum Blvd.” and — thank God — “Coinye West.”

The signs made me wonder if the house has an active crypto and general tech community, seeing as it’s billed as a hacker community. They still accept bitcoin for room and board, but the house’s tech focus shouldn’t be overstated, Berkeley told me.

“We have some people working on crypto, but it’s not like everyone is in crypto. For example, we just had a guy here who is a doctor, so it’s a mix.”

Doctors, lawyers, professors, service workers, developers — folks of all kind live in the community.

“With 40 rooms, there are lots of different people. We’re decentralized.”

Unfortunately, none of the crypto-focused professionals were around to chat, either by virtue of being busy or because they were hiding from “the media.” That was all right by me; I understand their need for privacy, and given America’s current media climate and public sentiment, I didn’t find it shocking that they didn’t want to show their faces to a nosy reporter (the industry’s professionals seem to approach the press with serious skepticism).

Satisfied with the tour and the talk, I thanked Berkley and went on my way.

Back at the castle, I had a last supper from Curry Up Now (courtesy, as always, of Bitrefill-funded Uber Eats), relaxed and, just like that, the week was over.

I went to bed thankful I’d be able to use my fiat debit card in the morning.

As Kashmir Hill did in her original journey, Colin is accepting BTC tips to help him along the way.

Tip jar: 3CnLhqitCjUN4HPYf6Qa2MmvCpSoBiFfBN

This article originally appeared on Bitcoin Magazine.

from Bitcoin Magazine http://bit.ly/2RWaDYA

FastBitcoins.com Enables Cash-for-Bitcoin Exchange Via the Lightning Network

Many are predicting that 2019 will be the year Bitcoin’s Lightning Network sees massive growth and becomes a more common way to make bitcoin payments, and a new company based in England's East Midlands hopes to help with that process.

Today, FastBitcoins.com has announced the launch of its cash-based bitcoin exchange, which includes Lightning Network integration. With this new exchange, users will be able to avoid touching the blockchain when they decide to buy or sell bitcoin for cash.

The new exchange was founded by former Neo & Bee Managing Director Danny Brewster, who says he is on a mission to restore his credibility after his last venture infamously failed in spectacular fashion.

How It Works

Brewster is also behind AAO Global, a company that provides store operators with digital kiosks that can be used by customers to purchase anything from prepaid cell phone minutes to Xbox Live subscriptions. The plan is to add FastBitcoins.com as one of the 5,000 voucher options on these hardware terminals.

“We take away the current pain points blocking normal people buying bitcoins; there is no complex process involving signing up to a Bitcoin exchange or network and having to convert your money,” said Brewster. “Customers can now just walk into a Fastbitcoins.com partner shop and buy bitcoins with the same ease and speed as buying a prepaid telephone/cell-phone credit/top up voucher.”

The FastBitcoins.com terminal was originally debuted in December 2018 when a reporter bought 10 pounds worth of bitcoin from a touchscreen in the back of a London taxi.

In addition to the terminals, FastBitcoins.com also plans to sell physical bitcoin gift cards, integrate with existing bitcoin wallets, and build a FastBitcoins.com mobile app.

“We are also building relationships with other distributors for integrating with our FastBitcoins.com systems to enable the sale of vouchers through their existing hardware,” added Brewster.

FastBitcoins.com also has a partnership with crypto payment platform Bitrefill, which means any of the gift cards and other services sold via Bitrefill will also be available for sale via the FastBitcoins.com terminal. Additionally, FastBitcoins.com voucher codes can be purchased via Bitrefill.

Earlier this month, Bitrefill also stepped into the Lightning space when it launched Thor, a service that allows customers to open Lightning channels on demand.

FastBitcoins.com’s fees start at 6 percent to buy bitcoin and 3 percent to sell for unregistered users. Fees become lower if the user is willing to register an account or verify their personal information.

In terms of buy and sell limits, Brewster stated, “You must be registered to sell to us, and the limit depends on the retail locations near the user and their limits for paying out cash. The buying limits depend upon jurisdiction, but you can buy up to £250 worth of bitcoin in the UK per voucher without an account. However, we do have monitoring in place to ensure the structuring of transactions isn't occurring.”

Currently, FastBitcoins.com's products and services are available at locations in the U.K., but the company plans to have some locations set up in Canada before March as well. Locations set up in the U.K. right now include convenience stores, money transfer agents, a tattoo parlor, and the aforementioned London black cab.

Bitcoin Magazine was able to try out the FastBitcoins.com system before launch. An image of a test voucher was shared by FastBitcoins.com, and it was easily redeemed for bitcoin via the Lightning Network after entering an email address and copying and pasting a Lightning Network invoice.

Tippin.me was used as the destination for redeeming the voucher via the Lightning Network. Thankfully, FastBitcoins.com had a Lightning channel open with Tippin.me.

Danny Brewster’s Controversial Past: Neo & Bee

Those who are new to the Bitcoin space may not be familiar with Brewster’s controversial past.

Back in 2014, Neo & Bee was building a “bitcoin bank” and payment system in Cyprus. This was not long after the bail-ins happened in the European country, and there was a lot of hype around the Neo & Bee project. Shares of Neo & Bee’s parent company, LMB Holdings, were made available via the Havelock Investments platform, which was sort of a more centralized precursor to the ICO mania seen in 2017.

Neo & Bee seemed to collapse as soon as it was open for business. In short, Brewster was facing allegations of fraud, LMB Holdings trading was halted on Havelock Investments and Brewster ended up leaving Cyprus to go back to the United Kingdom.

Brewster claimed a threat was made on his daughter’s life after he returned to the U.K.

“Regular messages directing me to hang myself were commonplace for the first year,” said the former Neo & Bee managing director.

According to Brewster, he eventually met with Cypriot police in the U.K. for a five-hour interview regarding the various allegations against him on the condition that he did not have a lawyer present.

“I knew I was innocent,” said Brewster. “I attended what turned out to be a five-hour interview and made a recording using my mobile phone. By the end of the interview the officers stated that the case would now be closed and passed to the Attorney General's office for them to close it, because it was evident that no crime had been committed and the allegations were false. They also offered the advice to see those responsible in court for the accusations they have made, in an effort to recover the financial losses caused by their actions.”

At the end of 2014, Neo & Bee was listed, behind the collapse of Mt. Gox and the ongoing trial of alleged Silk Road administrator Ross Ulbricht, as the third biggest crypto scandal of the year, as rated by CoinDesk.

Mastering Bitcoin author Andreas Antonopoulos and Adamant Capital founding partner Tuur Demeester both posted their accounts of what had happened with Neo & Bee, as Antonopoulos consulted for them and Demeester had bought one share in the company.

According to Brewster, the company’s issues started with a simple accounting error. He shared his full take on the saga in a 2017 interview with Bitcoin Uncensored.

“When all that was happening I was polishing my coding abilities and building FastBitcoins.com,” Brewster told us.

For Brewster, FastBitcoins.com is part of his plan to make Neo & Bee investors whole again. The business is structured in a way where it never holds customer funds, and they offer complete transparency when it comes to exchange rates and fees.

“Given my past, I am fully aware that I will be under more scrutiny than anyone else in the Bitcoin community,” said Brewster. “But I see this as an opportunity because it also puts more onus on me than anyone else in this space to deliver a safe and trustworthy service. The easiest thing for me to have done would have been to walk away from the industry altogether, or employ someone to be the public face of the business. Yet, despite my past and all of the false allegations thrown at me, I’m committed on two things: correcting mistakes made and bringing the benefits of Bitcoin to society.”

Brewster has pledged to take profits from his new venture at FastBitcoins.com to help make all Neo & Bee investors whole. Brewster says around 20 percent of outstanding Neo & Bee tokens have been settled one way or another, and two of those former Neo & Bee investors are now shareholders in Brewster's new company.

Those who invested in Neo & Bee can make a claim on their investment losses at NeoDisrupt.com.

This article originally appeared on Bitcoin Magazine.

from Bitcoin Magazine http://bit.ly/2HE4co8

Blockstream Breaks into Japanese Market with JPY Stablecoin, Partnership

Blockstream is partnering with Japanese fintech giant Digital Garage to bring a JPY stablecoin to the Bitcoin network.

To spearhead the project, Blockstream and the ¥120 billion (just over $1 billion) firm are working under the label Crypto Garage with the help of Tokyo Tanshi, the “largest inter-dealer broker in Japan w/ billions in trades daily,” according to Samson Mow, Blockstream’s chief strategy officer.

The collaborative is building the yen-pegged coin (JPY-TOKEN) on Blockstream’s Liquid network, a Bitcoin sidechain that tacks additional technical features onto the blockchain, like smart contracts.

It’s also the inaugural asset for SETTLENET, a new Liquid product suite that Blockstream claims will “enhance trading efficiency and security for participants in the Bitcoin market.”

“SETTLENET will definitely make it easier for Liquid Issued Assets to be created. Currently savvy users can already create assets with command line tools, but having GUI’s and frameworks for asset issuance will speed up adoption,” Mow wrote to Bitcoin Magazine via email.

Leveraging SETTLENET, Crypto Garage’s JPY-TOKEN can be atomic swapped for L-BTC, a Liquid asset token that maintains a 1-1 peg to bitcoin on the Bitcoin mainnet. Like its dollar, pound and euro counterparts, JPY-TOKEN will go 1-for-1 with the yen.

By the Book

The partnership has Blockstream embedded with two of Japan’s fintech heavyweights, so Blockstream is operating within the bounds of Japan’s financial regulations.

Both Blockstream’s blog post and Samson Mow’s tweet on the announcement stressed that the Japanese Financial Services Agency has approved the product.

https://twitter.com/Excellion/status/1087559149376995333

To assist the exchanges that will be issuing and redeeming the asset, the product suite will come with an authorizer, a “rule-based transaction authorization” tool that will let users process payments under pre-set conditions.

“[The Authorizer] will help ensure regulatory compliance for certain transactions that may need to stay within a certain group of users. For example, a security token offering may only able to be transacted amongst accredited investors,” Mow added in our correspondence.

To start, the JPY-TOKEN liquidity partners, the trusted parties who facilitate the swaps between Liquid and Bitcoin’s networks, “will be limited to FSA licensed crypto exchanges in Japan,” Mow indicated.

“It's not yet clear what the exact distribution model will be for the JPY stablecoin,” he added.

“A Natural Extension”

Mow stated that the partnership had been some time in the making.

One of Blockstream’s board members, Reid Hoffman, connected the company with Joi Ito, the director of the MIT Media Lab and one of Digital Garage’s co-founders. The blue chip would become a lead investor in Blockstream’s $55 million Series A funding round, after which time Samson wrote that they “started to explore a technology partnership to focus on blockchain initiatives in Japan.”

That exploration would begin to materialize in 2017 as Digital Garage Labs, Digital Garage’s research and development arm, which Tokyo Tanshi, a Japanese brokerage services company, would join in the same year.

Samson calls Crypto Garage “a natural extension of [these] relationships,” the culmination of each company’s professional relationships after Blockstream fully committed to the project.

Before Crypto Garage, Blockstream had helped Digital Garage use Blockstream’s enterprise-facing blockchain platform, Elements, “to develop real-time exchange systems for loyalty points and digital currencies, as well as regional money systems,” Mow told Bitcoin Magazine.

Under this new partnership, Blockstream will take in another $10 million in funding from Digital Garage, which it will use to focus on Liquid, its cryptocurrency data feed and “new product lines.”

SETTLENET Sets Expectations for Future of Liquid

While the JPY-TOKEN will position Blockstream in the Japanese market, SETTLENET isn’t confined to its first asset.

“SETTLENET will provide Liquid Network participants, including cryptocurrency exchanges, OTCs and financial institutions, with the functions required for issuance, trading and transaction monitoring of digital assets,” the suite’s website states.

As Mow indicated, it’s made to make the process of issuing Liquid assets easier. In the future, he’s hopeful that it will be used to support more sidechain assets that can interoperate with Bitcoin’s network.

Mow believes that the JPY-TOKEN could be the first of many stablecoins native to Blockstream’s Liquid, telling Bitcoin Magazine that interest from stablecoin creators could mean more to come soon.

“We’ve been in talks with many of the stablecoin issuers and I think there’s a lot of interest to leverage something robust and secure like Liquid — there’s also the added bonus of confidentiality for stablecoin transactions within Liquid thanks to the Confidential Assets feature, and multisig issuance so multiple parties have to sign off on any new issuances. You can expect more stablecoins on Liquid soon!”

This article originally appeared on Bitcoin Magazine.

from Bitcoin Magazine http://bit.ly/2SfBZrK

Market to be choppy near term, will see if Budget puts pressure on fiscal side: Sandeep Bhatia, Macquarie Capital Securities

NBFC space will continue to be squeezed and will be a major story of 2019, says Bhatia.

from Expert View-Markets-Economic Times http://bit.ly/2RsITWl

Pages

Thursday 31 January 2019

Crypto markets climb slowly higher, XRP surging, Bitcoin Cash and IOTA doing well, Tron and NEM fall back.

Bitcoin Price Analysis

Technical indicators

Bitcoin Cash Price Analysis

EOS, Stellar (XLM) and Tron (TRX) Price Analysis

Ripple Price Analysis

Technical Indicators

Ethereum Price Analysis

ETH Technical Indicators

Short the Bankers

“Long Bitcoin, short the Bankers,” he added.

Comparing Regulation D with Cryptocurrency Protocols

75 Bitcoin Transactions in $10

Gemini Completes SOC 2 Exam, Proving Compliance and Security Prowess

Gemini Is Setting the Bar for the Crypto Industry

Ripple (XRP) Surges Over 10%, Leads Today’s Recovery

Entire Crypto Market Recovers Slightly

Bitcoin Nears $3,500, May See Further Gains If It Breaks Above this Price Level

Bitcoin Could Drop into $2,000 Region if it is Unable to Hold Above $3,300, Claims Analyst

VanEck Exec: Bitcoin Created First-Time Investors, Provides Education

Millennials Fear Other Markets, Yet Embrace Crypto With Open Arms

How It Works

Danny Brewster’s Controversial Past: Neo & Bee

By the Book

“A Natural Extension”

SETTLENET Sets Expectations for Future of Liquid