Indian cryptocurrency exchange, Coindelta shuts down operations owing to country’s lack of crypto regulations

The lack of regulatory clarity on cryptocurrencies and the ban on cryptocurrency transactions by India’s Reserve Bank of India led to one of the country’s most popular exchanges to shut down. Coindelta is shutting down operations on 30 March at 2 pm IST. The exchange’s statement on Medium read, “It has been really difficult for […]
Source: bitcoinwarrior
Indian cryptocurrency exchange, Coindelta shuts down operations owing to country’s lack of crypto regulations

Breaking: Bithumb loses XRP worth around $5 million; claims it was an accident involving insiders

Earlier today, Bithumb, one of the leading cryptocurrency exchanges in South Korea, garnered the cryptospace’s attention after speculations of a hack. It was reported that the exchange lost over 3 million in EOS, the fourth largest cryptocurrency by market cap, approximately worth $13 million. Soon after the news broke out, community members pointed that the […]
Source: bitcoinwarrior
Breaking: Bithumb loses XRP worth around million; claims it was an accident involving insiders

Another Social Media Giant Enters the Crypto Industry, Is Widespread Adoption Imminent?

There’s no question that the crypto industry has been growing by leaps and bounds over the past year, regardless of persisting bear trend that has sent overall market sentiment towards rock bottom.

One indication of this growth has been the large and growing trend of social media giants entering the industry, and because social media companies operate on the forefront of the general public, their quickness to adopt crypto may signal a bigger trend of growing mainstream adoption.

Report: Russian Social Media Giant VKontakte (VK) Developing Own Crypto

According to a recent report from Russian news outlet RNS, VKontakte (VK) – which is the most popular social media platform in Russia – is in the process of developing their own cryptocurrency, which will be placed directly before all of the site’s nearly 100 million active monthly users.

According to an unnamed source familiar with the company’s plans, the final decision on whether or not to launch the crypto has not yet been made, but if they do move forward with their plans, the current configuration of the project entails having a crypto account created for each individual user’s account on the site.

“According to [the unnamed source], the current configuration of the project involves the creation of individual accounts for the accumulation of cryptocurrency to all users of the social network,� the report explains.

The addition of the new crypto will also add a host of new features to the platform that allows users to easily monetize content, as users will be able to receive the crypto for publishing interesting content, and for receiving likes, comments, and reposts.

It is important to note that VK has not yet confirmed or denied the rumors regarding this new crypto product.

Growing Trend of Social Media Companies Turning to Crypto 

VK certainly isn’t the first social media company to turn towards crypto in order to enhance user’s experiences, and their decision to possibly release a cryptocurrency comes on the heels of news regarding US-based social media giant, Facebook, working to develop its own cryptocurrency.

The Facebook crypto will be a coin associated with WhatsApp, which would allow users to facilitate nearly instant transfers between users, but information regarding this project is scarce.

Other major companies, including Telegram and Signal, have also forayed into the crypto industry, with Telegram making headlines throughout the past year regarding the messaging platform’s highly coveted and publicized Initial Coin Offering (ICO).

Because the success of social media is based entirely off of user experience, it is clear that the respective companies believe that the public is ready to begin heavily interacting with cryptocurrencies, which may signal that widespread adoption is right around the corner.

Featured image from Shutterstock.

The post Another Social Media Giant Enters the Crypto Industry, Is Widespread Adoption Imminent? appeared first on NewsBTC.


Source: newsbtc
Another Social Media Giant Enters the Crypto Industry, Is Widespread Adoption Imminent?

$4.2 Million of Cryptopia’s Ethereum (ETH) Moved as Prices Stagnate

  • Ethereum prices up 2.8 percent
  • 30,789 ETHs transferred from Cryptopia’s wallet to an unknown address.

$4.2 million worth of Ethereum (ETH) from Cryptopia is now at an unknown address after Jan hack. At the same time, Ethereum prices are up but struggling to break above $150 and $170.

Ethereum Price Analysis

Fundamentals

There is a worrying trend in 2019. More exchanges are falling prey to hackers, and there should be averting steps. Aside from regulator involvement, exchange clients must take their security a notch higher. That means incorporating two-step verification in their login procedure and being extra vigilant to avoid phishing attacks.

Often, crypto attacks lead to losses and irreversible reputation damage to the affected exchange through client loss of confidence and made worse by an internet that never forgets. One of the many exchanges aside from BitHumb which is the latest is Cryptopia.

Their case was unique because it was sustained for several days but there was recovery. However, a majority did slide, and the community now notes that 30,789 ETHs moved from Cryptopia to an unknown wallet address. That amounts to roughly $4.2 million at spot rates. These funds, Elementus reports, were from the second breach. That’s when hackers had control of over 17k wallets. However, the damage was notably extensive for ETH holders.

“One possible explanation is that Cryptopia had their private keys stored in a single server with no redundancy. If the thieves managed to gain access to this server, they could have downloaded the private keys before wiping them from the server, leaving Cryptopia unable to access their wallets.�

Candlestick Arrangement

Ethereum

At the time of press, Ethereum (ETH) is up 2.8 percent in the last week. However, a noteworthy development is the failure of prices to close above the $150 level in a minor breakout trade.

Even so, our ETH/USD trade plan is valid, and bulls of Mar 5 are valid after Mar 27-29 expansions. Therefore, although we are net bullish expecting gains above $170 towards $200, participation level remains low.

Besides, there is this hang from Feb 24 losses that can trigger a sell-off towards $100 if there is a meltdown below $130 or Mar 5 lows. All the same, once there is a high volume drive above $150 then risk-off traders can ramp up on dips with targets at our Nov-2018 breakout level at $170.

Technical Indicators

By yesterday’s close, average volume stood at 116k. After Mar 29 gains we expected that prices would edge higher with high volumes exceeding Mar 5 of 302k. As a result, unless otherwise, these conditions are correct, we shall take a neutral but bullish stand on price action.

Chart courtesy of Trading View

The post $4.2 Million of Cryptopia’s Ethereum (ETH) Moved as Prices Stagnate appeared first on NewsBTC.


Source: newsbtc
.2 Million of Cryptopia’s Ethereum (ETH) Moved as Prices Stagnate

Litecoin [LTC] on an adoption spree; added as a collateral option on Nexo – AMBCrypto News

Litecoin [LTC] on an adoption spree; added as a collateral option on Nexo  AMBCrypto NewsLitecoin [LTC] witnessed significant adoption this year, both in the traditional sense and in the cryptosphere. LTC, today, has established itself as one of the most …
Source: worldnewsoffice
Litecoin [LTC] on an adoption spree; added as a collateral option on Nexo – AMBCrypto News

Bitcoin [BTC] ETF: SEC stalls proposal yet again; decision pushed to May 2019

In what could trigger a bearish decline for the cryptocurrency market, the United States Securities and Exchange Commission [SEC] has yet again stalled a publicly traded Bitcoin [BTC] product. The top regulator released a public notice to the effect on March 29. An application for a Bitcoin Exchange Traded Fund [ETF] was tabled before the […]
Source: bitcoinwarrior
Bitcoin [BTC] ETF: SEC stalls proposal yet again; decision pushed to May 2019

Making ATM Bitcoin Payments via Lightning Network Is Becoming a Reality

bitcoin atm

Developer and researcher Felix Weis successfully executed, as a proof-of-concept, the world’s first ATM Bitcoin transaction on the Lightning Network.


World’s First Lightning-enabled Bitcoin ATM ‘Worked Fine’

On March 31, 2019, Weis publicly demonstrated a transaction via Lightning Network at a bitcoin ATM, during the Lightning Hackday, in Hong Kong, as shown in the video below.

https://platform.twitter.com/widgets.js

Later, Weis described the transaction as:

Just a proof of concept ‘top up your existing channel.’ Lots of bugs but two different mobile wallets worked fine.

Bitcoin Lightning Network Capacity Rises Over 1,000 BTC

The crypto industry is becoming increasingly enthusiastic about the Lightning Network because it offers to drastically lower BTC’s transaction fees while making it possible to execute near-instant transactions.

Moreover, the demonstration of making ATM Bitcoin payments over the Lightning Network comes when Weiss Crypto Ratings has just upgraded Bitcoin from a “C-� to a “B-� (good) because its technology had dramatically improved.

Weiss highlighted these conclusions in a comprehensive report on the crypto market entitled “Dark Shadows with a Bright Future, � published in March 2019.

Specifically, the Weiss evaluation considered four factors: adoption rate, technology, risk, and reward. And, it highlighted the effect of the advent of the Lightning Network in the upgrade, as follows,

Bitcoin has been upgraded with the roll-out of its Lightning Network and is the best positioned to become a popular store of value for savers and investors.

The Lightning Network is a decentralized system where participants can implement trustless micropayment channels to perform one or multiple payment transactions off-blockchain.

These channels reside off the Bitcoin blockchain. Transactions occur between these channels. Upon completion, transactions are transmitted, as a single transaction, to the blockchain. Then, the payment channel is closed, and transactions are transcribed onto the blockchain.

Therefore, regardless of the number of transactions performed, the BTC blockchain is accessed twice, at the opening of the channel and the closing of the channel.

The implementation of Lightning Network nodes continues to gain momentum. As of this writing, according to 1ML, a Lightning Network monitoring website, the network now boasts 7,744 nodes and 39,129 channels. And the network capacity reaches over 1,059 BTC.

Will Bitcoin ATMs use Lightning Network to cut costs in the future? Let us know in the comments below!


Images courtesy of  via Twitter/@bitcoinorghk, Weiss Crypto Ratings, Shutterstock

Optimize Your Cryptocurrency Portfolio: 7 Altcoin Types You Must Own Before The Surge – Hacked

Optimize Your Cryptocurrency Portfolio: 7 Altcoin Types You Must Own Before The Surge  HackedA rising tide lifts all boats, it may be wise to consider what type of altcoins you choose for your cryptocurrency portfolio before the major surge arrives.
Source: worldnewsoffice
Optimize Your Cryptocurrency Portfolio: 7 Altcoin Types You Must Own Before The Surge – Hacked