- ETH price was under a lot of pressure and it declined below the $1300 and $1275 supports against the US Dollar.
- There are two bearish trend lines forming with resistances at $1276 and $1320 on the hourly chart of ETH/USD (data feed via SimpleFX).
- The pair is currently recovering, but it could face sellers near the $1276 and $1290 levels.
Ethereum price made a downside move against the US Dollar and Bitcoin. ETH/USD is now well below $1300 and is currently in a bearish zone.
Ethereum Price Resistances
Yesterday, we saw how there was an increase in the bearish sentiment from $1374 in ETH price against the US Dollar. The price started a new downside wave and moved below a couple of important support levels such as $1320 and $1300. Moreover, there was a break below a crucial support around the $1276 level and the price settled below the 100 hourly simple moving average.
The decline was major as the price traded towards the $1200 level. A low was formed at $1200.57 from where the price started an upside correction. It has moved above the 23.6% Fib retracement level of the last drop from the $1374.70 high to $1200.57 low. However, there are many resistances waiting on the upside around the $1276 and $1300 level. There are two bearish trend lines forming with resistances at $1276 and $1320 on the hourly chart of ETH/USD. The first trend line is also near the 50% Fib retracement level of the last drop from the $1374.70 high to $1200.57 low.
Moreover, the $1300 resistance is near the 100 hourly simple moving average. Therefore, any major upsides may probably find sellers staring $1276 up to $1320. On the downside, the recent low of $1200 is a crucial support.
Hourly MACD – The MACD is gaining momentum in the bearish zone.
Hourly RSI – The RSI is currently well below the 50 level.
Major Support Level – $1200
Major Resistance Level – $1300
Charts courtesy – SimpleFX
The CSIRO has Helped Create Blockchain-Powered Smart Money
The CSIRO’s Data61 and the Commonwealth Bank have created a new type of smart money powered by blockchain. This smart money, also known as programmable money, can be used to help manage insurance payouts, budgeting and the management of trusts and charities in Australia.
Once programmed, smart money knows who it can be spent by, what it can be spent on, when it can be spent, how much of it can be spent and any other conditions that may be set by those funding the payment.
Smart money also reduces the need for funders to assess payments after-the-fact when checking for compliance with spending rules. The technology was trialled with 10 participants and carers in the National Disability Insurance Scheme (NDIS) using a prototype app. The findings of the smart money proof of concept were released today in a report, Making Money Smart.
“This has been an important research project for understanding the benefits and limitations of blockchain technology in the context of conditional payment environments, such as the NDIS,” says Dr Mark Staples, Senior Principal Researcher in the Software and Computational Systems program at CSIRO’s Data61.
“Our use of blockchain added new kinds of programmable behaviours to the smart money in the prototype system. This automation and flexibility could reduce friction and enable greater innovation in many payment environments and unlock network-effect benefits.
“This could include more directly connecting citizens to public policy programs, empowering people to optimise their spending through things like smart savings plans and smart diets, and reducing costs for businesses, including through the potential for self-taxing transactions.”
The prototype app was tested by 10 NDIS participants and carers in the CommBank Innovation Lab as well as a small number of medium-sized disability service providers.
Participants and carers estimated the app could save them one hour to 15 hours per week, while service providers estimated potential annual cost savings as a percentage of revenue of 0.3% to 0.8%. CBA modelling indicates the economic benefits would run to hundreds of millions of dollars a year.
Julie Hunter, the Commonwealth Bank’s Head of Government, says the trial results also show potential to reduce administration costs for disability service providers and the risk of fraud and accidental misspending.
Great Lakes Science Center: We take bitcoin
At Great Lakes Science Center, cryptocurrency will now be an accepted form of payment. The museum announced that it will begin accepting bitcoin transactions on Tuesday, Nov. 13, reportedly making it among just a few museums in the country to do so. The box office will use BitPay to process the transactions.
According to the website SpendBitcoins.com, two American museums known to accept the cryptocurrency today are Museum of the Coastal Bend in Texas and St. Petersburg Museum of History in Florida.
The Great Lakes museum will begin accepting bitcoin ahead of the Blockland Solutions Conference, which clearly inspired it. That inaugural four-day event takes place in December; admission can be paid there in bitcoin as well.
“There is a lot of excitement around the conference,” said Great Lakes Science Center president and CEO Kirsten Ellenbogen in a statement. “Accepting bitcoin is just a small part of the momentum to grow a blockchain ecosystem in Cleveland.”
For Ellenbogen, it also underscores the museum’s own innovative efforts as it supports the disciplines of science, technology, engineering and math.
“Last year we launched our mobile app that uses augmented and virtual reality to allow guests to experiment with flames in space and test spacecraft designs re-entering Earth’s atmosphere when they visit the NASA Glenn Visitor Center, and now they’ll be able to use their phone to pay for their admission using Bitcoin,” she said,
Some other local companies involved with cryptocurrency Crain’s has covered recently include accounting firm Skoda Minotti, which started accepting bitcoin in September, and Ethode sister company LightSpeed Hosting, which runs a massive cryptocurrency mining facility in Medina County.
Emerging Cloud Server Cryptocurrency Mining Service Splitt Experiences Rapid Growth, Attracts Ten Thousand Investors in Less than Three Months
Recently launched cloud server cryptocurrency mining service, Splitt is now making the heads turn in the global crypto community. Designed to make cryptocurrency mining user-friendly and safe for all, Splitt has secured an investment of well over $5 million from more than ten thousand investors over the last three months.
Splitt, a recently launched cryptocurrency mining service equipped with a cloud server, is now taking giant strides towards becoming a highly preferred choice amongst the crypt mining enthusiasts around the world. Following its mega launch in August, Splitt has done well to secure close to one hundred thousand users and ten thousand investors in less than three months. Official sources have revealed that the company has already received an investment of more than five million for further development of the business.
As a result of drastic increase in the number of miners, bitcoin mining has become extremely competitive these days. Along with this growing competition, the bitcoin network has increased the difficulty level of solving the puzzles. As a result, it has become necessary now for the miners to up their game to stay in the race.
The crypto cloud of Splitt meets these challenges by offering mining services with ASIC integrated chips. This is considered to be the latest breakthrough in crypto mining because it is faster compared to the traditional GPU and CPU mining, and consumes less power. Splitt cloud mining requires no specialized hardware as it utilizes shared processing power from data centres.
Thousands of users have recommended Splitt as their crypto mining alternative because of the following features.
- Flexible multi-algorithm cloud mining
- No pool fees, no waiting for equipment and no system crashes
- Hashpower is purchased and is retained for the whole contract duration.
- Dedicated to transparency and discloses everything to the public
- The company can be located easily and its representatives attend a number of events regularly
- Mining a number of different cryptocurrencies from scrypt and proof of work algorithm coins as well as ASIC and GPU mining
- Three-tier affiliate program and a lucrative bonus system
All Splitt users also have the opportunity to boost their mining contracts every week by winning Splitt Points. Moreover, the company is currently looking for a name for their Mascot and the winner coming up with the same will receive one thousand Splitt Points.
As part of the company’s global expansion plan, Splitt has recently opened a fully operational office in Thailand. The office is headed by Certified Bitcoin Professional Mr. Taradon Kriwichet, who is available alongside his team on a daily basis to help the visitors. Interestingly, a high percentage of investors that have contributed to Splitt are from Thailand. Investors from Ghana, Italy, Germany, and Russia have also contributed generously.
“We are happy to let you know that we have received an investment of more than $5 Million to grow our business. We have been unstoppable in the recent months, with more than 95k users and 10k investors,” said a senior spokesperson from Splitt. “Now, we also have a fully operational office in Thailand and much more is expected in the near future.”
As a rapidly growing industry player, Splitt takes part in a number crypto conferences and forums all over the world. In the recent months, the company actively participated in three key industry events and the next one is coming up soon. In October, Splitt representatives conducted a successful workshop and networking conference in Ghana.
Splitt has an ambitious future plan that includes opening a Splitt Cafe in Thailand in January, 2019. To cater a rapidly expanding pool of users, the company has recently fine-tuned their web presence. The Facebook Fan page of Splitt has also been rebranded. More latest news and updates about Splitt is available at https://splitt.co/en/news
Mentioned below are the upcoming summits to be attended by Splitt
- Ghana Summit No. 2 – 24 November 2018 – Miklin Hotel Conference Room (Contact John Kaakyire – 0249791008)
- star2 Italy’s First-Ever Summit (with special Italian translator for Speaker CBP Taradon) – 01 December 2018 – Savoy Excelsior Palace Hotel – Contact Mr. Alex Vicini – 3296752612)
- star2 Thailand Summit No. 4 – 16 December 2018 – Viva Garden Hotel (Contact Mr. Taradon Kriwichet – https://t.me/splittchat_th)
To stay up-to-date with all latest developments, Splitt users are encouraged to subscribe to the company’s Telegram Group at https://t.me/splittchat_en
The company requests all their customers to take part in an event survey by visiting the link https://splitt.co/en/forms/eventsurvey
To find out more about Splitt, please visit https://splitt.co/en/
About Splitt: Splitt offers a user-friendly alternative to cryptocurrency mining from home at any time. It is suitable for amateurs as well as cryptocurrency experts working on a larger scale. The cloud mining service offers a fresh alternative to traditional means of cryptocurrency mining. The company’s priority is to offer a standardized, highly reliable, and high-performance cloud computing environment in all of the fifteen cities they serve at present.
BU Cash Contains Both Bitcoin ABC and SV Rulesets Available for Configuration
The Bitcoin Cash community has been discussing the upcoming hard fork a great deal over the past few days. There’s been a whole lot to follow as developers and business executives have been stating their opinions, while BCH infrastructure providers continue to reveal their contingency plans. News.Bitcoin.com previously reported on the BU development team publishing code, which added the Bitcoin ABC ruleset changes for Nov. 15. At the time, BU developers said the SV ruleset would be added at a later date and the BU team hoped miners would vote on changes using the BIP135 bits standard incorporated into the BU client. Now BU has released Bitcoin Cash edition 22.214.171.124, which includes the Bitcoin SV upgrade changes.
“[Bitcoin Cash edition 126.96.36.199] will implement a set of consensus changes proposed by an alternative implementation, Bitcoin SV. Such a set of features are disabled by default, the default policy is to activate the set of changes as defined by the Bitcoincash.org specification,” explained the BU development team.
Essentially this means miners can configure their clients to ABC or SV nodes and vote on features from the rulesets they prefer. As the BU team further emphasized, “the SV and ABC forks are enabled. You must choose one.”
Bitcoin Mining Bitmain Releases New 7nm Antminer
Bitmain has officially released two new 7nm (nanometer) “Antminer” crypto mining machines, according to an official tweet. Bitmain indicated in September that it would be equipping its new Antminer models with next-generation Application-Specific Integrated Circuit (ASIC) chips.
ASIC chips are geared to compute optimally for a specific hashing algorithm and, as Bitmain’s tweet confirms, these latest “acceleration” chips use an SHA256 algorithm, which is based on 7nm Finfet semiconductor manufacturing technology.
We are officially announcing the release of our new 7nm miners which possess industry-leading hash rates designed to mine with the SHA256 algorithm. Two models will be offered, the Antminer S15 and T15. Available for purchase on 11/8. pic.twitter.com/m6HbWGZS1O
— BITMAIN [Not giving away ETH] (@BITMAINtech) November 6, 2018
In Bitmain CEO and co-founder Jihan Wu’s keynote lecture in September, he outlined that the new chip integrates “more than a billion transistors,” using a special circuit structure and low power-intensive technology to optimize efficiency. Wu claimed that tests have shown the chip “can achieve a ratio of energy consumption to the mining capacity that is as low as 42J/T.”
Six BCH Pools Are Mining Bitcoin Cash With Overt Asicboost Technology
The Asicboost optimization has been steadily making its way into the mining industry and now the protocol is being used on the Bitcoin Cash (BCH) chain. So far six mining pools are using the version-rolling Asicboost technology to mine BCH blocks. The operations currently using Asicboost on the BCH chain comprise Antpool, BTC.com, Okminer, Prohashing, Viabtc, and an unknown pool. According to the data website Asicboost.dance, since the Oct. 22 firmware release, both BTC and BCH blocks have seen a significant spike in Asicboost usage. The creator of the data website has built another portal called Cash.asicboost.dance, which measures the metrics of Asicboost used on the BCH network.
Asicboost was once controversial because some individuals assumed the technology was being used covertly. Now that mining operations are overtly using the technology, a slew of mining pools have adopted the protocol in order to improve efficiency. This is because Asicboost can speed up the mining process by a factor of approximately 20 percent by reducing the gate count on mining chips. Essentially, the protocol is also applicable to all types of ASIC chips according to the whitepaper written by Dr. Timo Hanke. Initially, the use of Asicboost had occurred solely on the BTC chain and last week there were 111 version-rolled blocked mined on the BTC network. This accounts for 11 percent of the BTC hashrate and 5.87 exahash per sec (EH/s).
Bitcoin Cash miners are slowly starting to increase usage of the protocol and last week there were 63 version-rolled Asicboost blocks mined on the BCH chain according to the Cash.asicboost.dance website. This means that on the BCH network mining pools have processed 0.23 EH/s or 6.25 percent of the overall hashrate. The pool processing the largest share of Asicboost blocks on the Bitcoin Cash network is Okminer, a mining operation that currently commands roughly 10.3 percent of the global BCH hashrate. The lead held by Okminer is followed by Bitmain’s Antpool and then the mining operation BTC.com.
OKEx named “Crypto Exchange of the Year” at Malta Blockchain Awards
OKEx, the Malta-based world-leading digital asset exchange, has been recognized as Crypto Exchange of the Year at the first edition of Malta Blockchain Awards. The award was presented in the ceremony held during Malta Blockchain Summit 2018 to recognize the companies, experts, and leaders who made outstanding contribution to the blockchain technology development in Malta.
The Crypto Exchange of the Year award is judged by 32 industry leaders and executives with combined experience in the blockchain Industry. Three exchanges were nominated in the category. OKEx stood out from fellow finalists Binance and BitBay.
“These awards are particularly gratifying as they reflect a vote of confidence from industry leaders, who recognize our ongoing efforts. Like we said, we dare to innovate and will keep pushing the limits of what is possible,” said Andy Cheung, OKEx’s Head of Operations.
OKEx is a world-leading digital asset exchange founded in 2017, offering digital assets trading services including token trading, futures trading, and index tracker to global traders with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies. The platform provides a safe, reliable, and stable environment for digital asset trading, serving millions of customers from over 100 countries.
“Receiving this honour is truly a testament to our unrelenting effort in making changes in the crypto and blockchain industry. We never stop innovating to create the best user experience, to build a robust ecosystem, to improve the crypto industry, and above all, to revolutionize our world with blockchain technology. As a leader, continuing to improve the ecosystem is not only our promise, it is also our responsibility.”
IOTA Announces Integration with Ledger Hardware Wallet
IOTA Foundation, a non-profit foundation focused on distributed ledger technology and permissionless ecosystem development, announced today a new collaboration with Ledger, the cryptocurrency and blockchain security leader, to integrate IOTA tokens with Ledger’s secure hardware wallets for cryptocurrency.
The Ledger Nano S hardware wallet will enable users to protect the private keys giving access to their IOTA tokens in a state-of-the-art secure chip. The Ledger hardware wallets integrate with the IOTA Trinity and Romeo Wallets and isolate user’s seeds (the key for their account) from their computer or smartphone, providing another layer of security from hackers. Users will be able to validate transactions on their Ledger hardware wallet as part of the security protocol.
“Providing the highest level of security and quality is a major focus at both Ledger and IOTA,” said Eric Larchevêque, CEO at Ledger. “The collaboration between the teams created an immediate synergy concentrated on developing a compatibility feature allowing users to access, store and manage IOTA tokens on Ledger devices. We are thrilled to welcome IOTA onto the Ledger platform.”
Ledger wallets are built with a distinctive operating system (OS) called BOLOS, which is integrated into a secure chip. The EAL5+ certified secure chip used in Ledger Hardware Wallets is the same one used for credit cards or passports. It is a tamper-resistant platform capable of securely hosting applications and data, in accordance with the rules and security requirements set by pre-authorized applications and people. Hacking a secure chip takes a formidable effort, while generic microcontrollers can be easily hacked by amateurs.
“Hardware wallets are regarded as the safest way to store cryptocurrencies. At IOTA, we made a commitment to delivering the safest and most usable standalone cryptocurrency wallet. The Trinity wallet is well on its way to fulfilling that commitment, and today we are proud to announce the next step on the journey. Ledger has earned a strong reputation for security and reliability, and this made it a natural choice for integration with Trinity. We are proud of how our community, the IOTA developers and the Ledger team have worked together to make this possible,” said David Sønstebø, co-chair and co-founder of IOTA Foundation.
IOTA is an open-source distributed ledger technology, that moves beyond Blockchain. It has been designed to be scalable with zero cost transaction fees and data integrity to power the future of the Internet of Things.
Department of Financial Services Grants Virtual Currency License to Coinsource
New York State Department of Financial Services (DFS) has approved the application of Coinsource, Inc. for a virtual currency license. Coinsource owns and operates touchscreen kiosks, which allow customers to buy Bitcoin with, or sell Bitcoin for, fiat currency in the form of cash. Coinsource is the first DFS virtual currency licensee to operate Bitcoin Teller Machines (BTM).
“Today’s approval is a further step in implementing strong regulatory safeguards and effective risk-based controls while encouraging the responsible growth of financial innovation,” said Superintendent Vullo. “New York’s financial services marketplace is thriving with companies committed to complying with DFS’s regulations that ensure the security of transactions, safeguard the industry and protect consumers.”
DFS has rapidly responded to innovations by licensing technology-based money transmitters under New York’s money transmitter law; online lenders under New York’s banking law; and virtual currency exchanges under New York’s financial services law. To date, DFS has approved twelve charters or licenses for companies in the virtual currency marketplace.
Presently Coinsource operates 40 Bitcoin kiosks in New York, located in New York City, Westchester and Nassau County. The company allows customers to insert cash and buy bitcoin (and store it on their mobile wallet) or sell bitcoin for cash (by scanning their mobile wallet at the kiosk).
CEO of Coinsource Sheffield Clark said, “Coinsource is the first and only company that operates BTMs to receive a New York virtual currency license. All New Yorkers — from the people that are unbanked to the people who own the banks — can use our kiosks in their neighborhood retail locations to buy bitcoin instantly in a convenient and familiar way. Now that Coinsource is a license holder, our customers can buy and sell with confidence that Coinsource meets and exceeds the high standards set by the New York Department of Financial Services. New York represents not just a center of global innovation but also one of our largest target markets. We are extremely proud to be the only BTM operator holding a New York virtual currency license.”
Nexo Announces 6.5 Percent Interest Rate on Stablecoin Holdings
Nexo, a cryptocurrency loans service, said this week that it’s going to offer interest payments on several leading stablecoins. When stored on the platform, trueusd (TUSD), gemini dollar (GUSD), paxos standard (PAX), Circle’s usdcoin (USDC), and Maker’s dai (DAI) will generate a 6.5 percent interest rate for those holding the currencies.
According to an announcement on Twitter, Nexo will also guarantee a one-to-one conversion to U.S. dollars on any major stablecoin for all liquidity providers. The company claims this is a unique service on the market.
After recently adding bitcoin cash (BCH), litecoin (LTC) and ripple (XRP), the cryptocurrency lending platform now supports seven digital currencies, including bitcoin core (BTC), ethereum (ETH) and binance coin (BNB), as well as its own token, Nexo. It accepts the coins as collateral for instant cryptocurrency-backed loans.
The APR for the loans is set at 16 percent, but a preferential rate will be applied when the native token is used as collateral. The platform will distribute 30 percent of its profits to Nexo holders, as part of the company’s first dividend payment in December.
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