EOS Mainnet Experiences ‘Freeze’ Two Days After Launch

Less than 48 hours after going live, the EOS Mainnet has “paused,” according to multiple reports on Twitter and a Steemit post by the top 21 EOS block producers (BPs), June 16.

While the BPs and “many standby nodes” scramble “to identify and fix the issue,” transactions appear to be ”frozen” on the EOS Mainnet. The cause of the freeze in transactions is still unclear, with the EOS Mainnet Status Update on Steemit claiming to be addressing the issue.

EOSUK, one of EOS’ BP candidates, reports that the EOS network monitor currently shows multiple BPs displayed as “red,” meaning that their application programming interfaces (APIs) are not responding.

EOS Network Status as of 1PM UTC, June 16

EOS Network Status as of 1PM UTC, June 16. Source: EOS Network Monitor

One of the possible reasons for the network freeze is a DDoS attack, according to EOSUK Twitter account, which said: “Lots of RED on the EOS Network Monitor as EOS Mainnet Crashes.”

Top 21 Block Producers and Standby Nodes posted on Steemit, claiming to have formulated “a method to unpause the chain” roughly an hour after the issue was identified. They also wrote that normal functions should be available within three to six hours from the time of publication of their report.

EOS is currently the highest-funded initial coin offering (ICO) ever, raking in an estimated $4 billion before its launch. It intends to compete with Ethereum as a platform for decentralized applications (DApps), claiming to have achieved inter-blockchain communication.

The markets have reacted to the news mildly, with EOS’ price going down 3% in 24 hours to press time. The coin is now trading at $10.43, according to Coinmarketcap.

EOS Charts

As of press time, EOS has not responded to Cointelegraph’s request for comment.

DNotes Global Inc Introduces Electrum DNotes Wallet

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DNotes Global, Inc. announced on Friday that its Electrum DNotes Wallet is now available for Windows, Mac, and Android mobile users. According to details provided by the company, the new state-of-the-art lite digital currency wallet will enable users with the tools they need to quickly, easily, and safely manage their DNotes wallets and transactions.

DNotes users can obtain their DNotes Electrum wallet by downloading it from the DNotes website, which hosts download versions for Windows, Mac, and Android systems. Alternatively, they can download it from the Google Play Store.

DNotes Global CTO Theodore Hauenstein described the wallet as a lightweight wallet system that enables users to easily create and manage multiple wallets. The wallet was forked from the original open-source software used for the Electrum wallet – a popular choice for many Bitcoin enthusiasts.

“We wanted to provide DNotes users with a safe, reliable, and simple-to-use wallet that can make their lives easier,” Hauenstein said. “With the DNotes Electrum wallet, there is no need to download the DNotes blockchain, which is something many of our stakeholders are sure to appreciate. More importantly, though, this wallet combines simplicity and rapid use with the security options today’s digital currency users need to protect their holdings.”

The new wallet offers tremendous security flexibility that will enable users to make small, everyday transactions with their DNotes using only basic security options. At the same time, however, the wallet offers a full range of robust features that will also make it ideal for users who opt for cold storage and offline private key management.

The company’s innovative DNotesVault will continue to offer secure, cold storage protection for DNotes stakeholders who choose to store their coins that way. In addition, users will also still have the option of maintaining their desktop wallet. Hauenstein said that the DNotes Electrum wallet provides a quicker, simpler way for those users to manage their DNotes, and has been designed to seamlessly integrate with the company’s planned invoicing and payment system.

DNotes Global CEO Alan Yong confirmed that the wallet has been a key part of DNotes plan. “We have always been committed to being equal to or better than our competitors,” Yong said. “That’s why it was vital for us to create a best-in-class wallet that can provide DNotes users with the feature-rich wallet management experience they need and deserve. Now that the technology has evolved to the level needed to make that dream a reality, the DNotes Electrum Wallet is ready to fulfill those needs.”

For Yong and his team, the release of the new DNotes wallet is yet another step toward the company’s greater goal of achieving mass adoption for the DNotes digital currency. Yong suggested that meeting that objective will require leadership and vision – and focusing on the things that matter to people around the world.

“DNotes is determined to provide the leadership that our industry needs to effectively bring the benefits of digital currency to the world,” Yong noted. “This is the real world, and it takes leadership to make things happen. There are billions of people around the globe who need greater financial inclusion and self-empowerment. The DNotes digital currency can and will provide those benefits, as a trusted and inclusive supplemental digital currency accessible by people everywhere.”

About DNotes and Alan Yong:

DNotes co-founder Alan Yong is a well-regarded visionary who established Dauphin Technology in 1988. He is the author of the book “Improve Your Odds: The Four Pillars of Business Success and is well-regarded as a “thought leader” in the cryptocurrency industry.

DNotes is a digital currency noted for its consistent and reliable growth and innovative initiatives that actively engage women, young people, small businesses, workers, and others – effectively inviting the world to participate in the digital currency revolution.

For more information please visit: https://dnotescoin.com/

To view the DNotes white paper, please visit: http://dnotesglobal.com/white-paper/

Media contact
Name: Alan Yong
Email: mailto:[email protected]

Italy and Crypto: Naples Mayor Talks About City’s Focus Group to Promote Blockchain and Possible Municipal ICO

A working group devoted to blockchain on the initiative of institutions, hundreds of volunteers from all over the world, a big and efficient plan for the future – it’s happening in Naples, the capital of the Italian region of Campania in the south of the country. The city, through a recent press release, announced the creation of a special “focus group,” whose purpose is to “develop and eventually implement objectives related to blockchain technology”.

In response, hundreds of scholars, experts, professionals and enthusiasts signed up as volunteers to participate in the project. We are talking about 300 people from all over the world.

Naples working group

We spoke with Felice Balsamo, an associate of the mayor of Naples, so that he could explain to us the details of one of the very first institutional projects in Italy. One could notice Felice’s competence in talking about ICOs, cryptocurrencies and blockchain as a tool to speed up government procedures.

Felice told Cointelegraph that Naples started discussing this project last December. Currently the administration is creating focus groups with participants divided by skills and goals. Among the volunteers there are students, engineers, developers, as well as lawyers, accountants and spokespeople of various institutions.

All the discussions start from a central theme: transparency. Volunteers will examine and develop possible solutions for birth records, elections and public administration in general. Another group will study the issue of transparency from a “private” point of view instead.

The focus groups won’t deal with just public administration, but also the businesses of the city — the beating heart of its economic life.

Solutions will be studied to train small- and medium-sized enterprises, teaching them to accept cryptocurrency payments and to embrace the advantages of these technologies.

Other focus groups will deal with international relations with other cities active in the sector, including Spain, Portugal, Argentina and Venezuela, involving city councilors.

There is also talk about fundraising for projects necessary for the city and even about an ICO aimed at developing a city cryptocurrency.

According to the mayor’s associate, the focus group could indeed create a new cryptocurrency, designed to promote transactions between public administration and citizens, but also contribute to the city’s economy with many different projects.

Among the participants there’s also ANN — a company which operates in the field of public transportation — and ASIA — a society specialized in environmental health services.

There are many ideas, but also many challenges. An example of this is provided by Felice Balsamo himself, who asks:

“What would happen if the city of Naples would receive a Bitcoin donation?”

The city often receives money and property donations, Felice explains, but what would happen with a cryptocurrency donation? Which institution should accept this donation? What regulation is necessary to accept it?

The Italian Agency of Revenue (Agenzia delle Entrate — the governmental body aimed at collecting taxes and revenue) is also a member of the group, and it will surely be an important resource to solve these problems.

After all, the various discussions will deal with issues that the Italian government would consider sooner or later. Will the focus group in Naples be an explorer for the institutions of all of Italy?

Vision of the Mayor

Cointelegraph spoke with Luigi de Magistris, mayor of Naples, to better understand the vision of the city council about the project.

Cointelegraph: Do you think these new technologies could be beneficial for an economy such as that of Naples?

Luigi de Magistris: Naples is considered the capital of the Mediterranean. In the last years we introduced important innovations in the field of administration, implementing a proper grassroots democracy. Just think of all our decisions considered innovative, such as the registry for civil partnerships we introduced, or the collective use of public assets: our experience is considered an example by many Italian and European cities. We were the first major city to issue an electronic ID through 24 registration ATMs.

Thinking about an economy based on blockchain, based on participation by the people, could be a valid solution for the regulatory and historical constraints of traditional finance.

Combining traditional economy with a new economy based on cryptocurrencies could lead to a huge economic potential for over 3.5 million residents of the metropolitan city of Naples.

Cointelegraph: What’s the purpose of “generating, distributing and using a new cryptocurrency (ICO) tied to the economy of the city,” as you can read on the official page of Naples City?

Luigi de Magistris: I have to say something first. In the last few years Naples has become the Italian city with the fastest-growing tourism sector, our airport is the first in terms of traffic, Naples is the most searched city for tourism on the web. This revolution, which happened in just a few years, involves the adjustment of supply and demand. This means improving our services and public transportation, experimenting with innovative payment systems, attracting a very different target, deploying an alternative system for electronic payments throughout the territory.

We are studying other [Italian] towns like Rovereto, or other cities in Europe like Barcelona, or Portugal, or our neighbor Switzerland. But in our case we want to open this new technology to cryptocurrency owners, generating a new economy in the city, regardless of whether we develop a new currency or not: this will be a long process, as shown by over 300 experts who signed up for our “public calling” from all over the world.

We want to involve trader associations and businesses in our city, that could expand their market thanks to the current availability of cryptocurrencies.

The creation of our ICO, in compliance with other programs already existing in Europe, could be one of the objectives of our project Napoli Autonoma [Autonomous Naples].

Our economy will be based on the specific historical features of the city, fueling a real economy based on our products, on the quality of our craftsmanship, on tourism, on our monuments, on our food. An economy based on the historical and social value of the city of Naples.

Blockchain and city administrations

The future of the economy and public administration could be dramatically changed thanks to the potential of blockchain technology and cryptocurrencies.

Recently, the Barcelona administration has revealed that it wants to establish a digital center to promote the growth and development of the blockchain ecosystem.

In March, Dubai unveiled a virtual business-to-business market in the pipeline, designed for the tourism industry and based on blockchain technology.

Now there is also the southern Italian city of Naples that joined the innovative movement which is spreading throughout the world.

AdBlock Plus Jumps Aboard the Blockchain to Spot Fake News

AdBlock Plus Fake News TrustedNews
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The popular ad blocker launched a new product called TrustedNews which tells the user if the news they’re reading are trustworthy or fake.

TrustedNews is the new Chrome extension from AdBlock Plus which spots fake news for users as they navigate the web. At the moment, it’s only available for Chrome users, but you can expect the extension to join other browsers in the future.

The company hopes to evolve its system to integrate blockchain technology and user feedback. The plan is to keep a decentralized database in the Ethereum blockchain with a built-in protocol to reward those who contribute to it.

The database will be maintained by MetaCert Protocol which will also be issuing MetaCert tokens to manage the reward system. Once the database runs on the blockchain, users will be able to vote on other people’s feedback — those who provide good feedback will be top earners, while the opposite will be true for fraudsters. For those who know Steemit, you might recognize the reward system at play here.

TrustedNews is only available in English, at the moment, and it scores websites based on their integrity and trustworthiness. Once installed, the icon will display three different colors, depending on the news you’re reading.

A green tick will be displayed every time a news source is considered trustworthy. If the TrustedNews isn’t sure, it will give you an orange ‘B’ for ‘bias. Finally, if the source isn’t legitimate at all, you’ll be seeing a blue smiley face every time you come across click-bait, malicious or user-generated content, or unknown.

The extension pulls its data from four sources — Wikipedia, PolitiFact, Melissa Zimdars’ List and Snopes. Ben Williams, TrustedNews’s director of ecosystems, explained, “For now the way that it works is that you have these sources… and what they will do is essentially give their rating on a particular site and then, basically, if everything isn’t all the same — which they usually are — then you would just go by the [majority].”

TrustNews hopes to provide a more detailed analysis of news sources in the future, with the capability of pointing out to which way a biased source fluctuates.

Williams told TechCrunch the team plans on moving the database to the Ethereum blockchain in the coming weeks — or months, in a worst-case scenario. He also stated they have no intention of profiting with the project and at the time they’re only experimenting what’s out there.

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Crypto Trading, Explained

What is crypto trading?

This type of trading involves exchanging one cryptocurrency for another, buying and selling coins, and exchanging fiat money into crypto.

It bears some similarities to foreign exchange (forex), where fiat currencies from across the globe are traded 24 hours a day.

The number of cryptocurrencies has exploded in recent years – and estimates suggest there are now more than 1,500 in existence.

Many of these coins can only be acquired using a major cryptocurrency such as Bitcoin or Ethereum. Because of this, you’ll likely need to perform trades if you want to contribute to initial coin offerings (ICOs,) or use a blockchain company’s services.

One upside of crypto trading is that you can get involved without mining coins yourself – a process that takes time, energy, technical knowhow and a lot of computing power.

OK! So how do I buy crypto?

You’ll usually go through something known as a crypto exchange.

Crypto exchanges generally fall into two categories: centralized and decentralized.

As well as buying crypto using fiat currency, a centralized exchange is somewhere you can store funds and exchange the likes of Bitcoin for other coins and tokens. Examples include Coinbase, Kraken and Binance. Although there is less risk that your funds will disappear if you forget a password or your private key, it’s important to go with reputable providers who have high security standards. That’s because there have been cases where millions of dollars have disappeared from these exchanges overnight through hacking.

On the other side of the coin, decentralized exchanges (DEX) remove the middleman – meaning trading is automated and peer to peer. They include Waves, Bitsquare, Bitshares, and CounterParty. Unlike their centralized counterparts, there is more of an emphasis on privacy here, allowing you to take further steps to protect your identity. The “trustless environment” on these platforms is driven by smart contracts. Although you retain 100 percent control of your cash through your own personal wallet, losing your private keys could make your funds irretrievable.

So where is the best place to store my crypto, then?

This depends on what your priorities are.

So-called “hot wallets” make accessing your crypto easy – allowing you to transfer funds and complete trades quickly and with ease. Many providers now offer mobile apps so this can be done on the move. Meanwhile, “cold wallets” are stored offline – commonly on USB sticks – with some people even writing down their private keys on paper. The latter can work well if you’re looking to save crypto for a rainy day.

Another thing to think about is what you want to store in your crypto wallet. If you’re interested in trading, the odds are that you’ll own multiple cryptocurrencies at once. Some wallets are only designed to support one coin, while others support dozens.

What should I look for when buying coins?

With hundreds to choose from, each with a different value and purpose, it’s worth doing your research.

Only a few cryptocurrencies – such as Bitcoin and Ethereum – have achieved mainstream levels of popularity. However, even well-established currencies can fall victim to extreme price volatility. It can be difficult to predict how prices will fluctuate with newly minted coins because there is little historical information to analyze. Backing a new currency could prove extremely lucrative, but equally, there’s a chance you’ll make an expensive mistake if you don’t know what you’re doing.

Keeping up to speed with the news on Cointelegraph, seeking independent ratings on ICOs, and gathering as much information as you can on a coin’s background are essential steps before you decide to make an investment. After making a purchase, monitor any changes in price closely – and consider setting higher and upper limits on when you would want to sell your crypto, mitigating losses in the event of a crash and protecting profits after a surge.

Any beginner’s mistakes I should avoid?

Try to avoid putting all your eggs in one basket.

Just like traditional investing, it’s worth having a diverse portfolio and spreading risk. That way, if one cryptocurrency performs disastrously, it won’t have a catastrophic effect on the overall value of your assets.

Another tip is to try and determine why the value of a particular cryptocurrency is rising or falling before you make an investment. Buying a coin that’s in freefall and waiting for its value to increase again may seem astute, but there’s no guarantee that it’ll bounce back. Chasing gains by backing a currency that’s surged can also seem tempting, but there’s always the risk of “pump and dump” schemes where the price crashes afterwards. Know the “why” before you buy.

Finally, always check, double check and triple check while trading – a simple tip that even seasoned crypto holders forget. When setting up buy or sell orders, make sure your numbers add up, as even the smallest of typos can see you lose an eye-watering amount. Also, when dealing with an exchange, make sure you’re sending coins to the correct address.

Is there a way to learn crypto trading?

To improve rapidly, you need guidance and support from a mentor or a community you trust.

Ideally, a rookie trader should start by choosing a reliable exchange and playing with popular coins, such as Bitcoin or Ethereum. However, the learning by doing approach is too slow for those who want to succeed fast. Joining a community of like-minded traders could be one of the best decisions to make: there are plenty of groups on Telegram or regular meetups in the US and other countries.  

Also, resources such as Taklimakan Network, the blockchain investment platform, connect amateur crypto investors and traders with industry experts. The company’s ICO started in April and will finish on August 31.

Unlike numerous intermediaries in the crypto world, the platform’s goal is actually to teach you to make your own investment decisions. Taklimakan Network is encouraging experienced pros to share opinions on crypto markets and blockchain projects, helping crypto newbies to trade from the position of knowledge.  

Co-author: Vicky Lova

Bitcoin Magazine’s Week in Review: Looking Back to See the Way Ahead

It’s been a turbulent time for the cryptocurrency markets, so now is a good time to reflect on how and why we got here in the first place. First, an op ed makes the ideological case for Bitcoin. Then, we continue to review the history of Bitcoin from its Cypherpunk days, with the latest installment of The Genesis Files, this time paying tribute to Wei Dai and his “b-money” protocol.

South Korea has seen one of their cryptocurrency exchanges hacked this week, with Coinrail reporting a major theft. Meanwhile, Coinbase has added more tokens and a crypto index fund to its exchange offerings.

Misconceptions about Tether and what is going on with this U.S.-dollar-backed token are explored and explained.

Featured stories by Robert-Jan den Haan, Andrew Kiguel, Randolph Malone, Nick Marinoff and Aaron van Wirdum.

Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here.

Op Ed: I Think, Therefore I Bitcoin: The Case for Bitcoin

Andrew Kiguel, founder of Hut 8 Mining, reflects on what Bitcoin means, beyond the hype of its bumpy price charts. He argues that Bitcoin represents freedom to store wealth in an asset that is out of government’s reach; freedom to conduct transactions — peer to peer — without relying on centralized financial institutions that have eroded our trust.

He acknowledges that Bitcoin is not perfect. It will evolve. Scammers will remain, as they do everywhere in the financial community. Regulation will come. Gains will be rightfully taxed. Detractors will continue to hate. Volatility will remain. However, because of the freedom it puts in the hands of individuals, Bitcoin will not disappear or pop like a bubble. Ever.

The Genesis Files: If Bitcoin Had a First Draft, Wei Dai’s B-Money Was It

Wei Dai is best known for an idea he casually announced in November 1998, just after graduating from university. His idea, b-money, was eventually included as the first reference in the Bitcoin white paper.

“Efficient cooperation requires a medium of exchange (money) and a way to enforce contracts,” Dai explained in his initial proposal. “The protocol proposed in this article allows untraceable pseudonymous entities to cooperate with each other more efficiently, by providing them with a medium of exchange and a method of enforcing contracts. […] I hope this is a step toward making crypto-anarchy a practical as well as theoretical possibility.”

Clearing Up Misconceptions: This Is How Tether Should (and Does) Work

There is substantial controversy surrounding Tether, a cryptocurrency that claims to be pegged to the U.S. dollar. According to Tether, each token is backed by one U.S. dollar, held in the full reserve of Tether. But the existence of the U.S. dollars pegging Tether has been called into question. Worries also exist that Bitfinex has been using Tether to prop up the price of bitcoin.

Research shows that misconceptions exist regarding how Tether functions, which in turn may be contributing in part to the existing controversies. By better understanding how Tether functions, it may be possible to provide some clarity.

South Korean Exchange Coinrail Hacked, $40 Million in Crypto Reported

Executives at South Korean cryptocurrency exchange Coinrail reported a hack on June 10, 2018, when thieves allegedly made off with 30 percent of the tokens on the exchange, worth over $40 million and made up of altcoins and assorted tokens. An investigation is under way, and law enforcement officials are working to figure out who was behind the attack. This is the fifth major hack of 2018.

New Coinbase Additions: Ethereum Classic and Crypto Index Fund

Among all the other big announcements that have been coming from Coinbase recently, the company announced on Monday, June 11, via blog and Twitter, that during the coming months it intends to add support for Ethereum Classic (ETC) to its exchange platform. The currency will join bitcoin (BTC), ether (ETH), litecoin (LTE) and bitcoin cash (BCH) as the fifth digital currency supported by the largest U.S.-based crypto exchange.

Silk Road’s Top Lieutenant Extradited to New York from Thailand

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Roger Thomas Clark, the Canadian national who is alleged to have been a key personality in the growth and development of the Silk Road drug-dealing website arrived in New York Friday after being extradited from Thailand. He was arrested roughly two and a half years ago in the Asian country.

The charges that Clark will face in the United States are related to his connections with the founder of Silk Road, Ross Ulbricht. Clark, 56, is believed to have been Ulbricht’s number two. Ulbricht is at the moment on a life sentence with no possibility of parole at the United States Penitentiary Florence High in Colorado after being sentenced in May 2015.

Silk Road’s Chief Operating Officer in all but name

According to the unsealed indictment charges Clark went by various pseudonyms including ‘Variety Jones’, ‘VJ’, ‘Plural of Mongoose’ and ‘Cimon’ while serving as the senior adviser to Ulbricht who also used the pseudonym ‘Dead Pirate Roberts’. Clark is alleged to have advised Ulbricht regarding the operations of Silk Road ranging from hiring and managing computer programmers to offering advice on how to thwart law enforcement.

After his arrest in Thailand on December 3, 2015, Clark expressed confidence in an interview with Ars Technica that there was no evidence against him since only an encrypted laptop had been seized. That could all change however if authorities can link him with the pseudonyms he allegedly used in his communications with Ulbricht. Federal authorities are already in possession of a journal that Ulbricht kept. In one journal entry, for instance, Ulbricht described Variety Jones as a ‘real mentor’.

“CLARK – who went by the online nicknames “Variety Jones,” “VJ,” “Cimon,” and “Plural of Mongoose” – was described by Ulbricht as a “real mentor” who advised Ulbricht about, among other things, security vulnerabilities in the Silk Road site, technical infrastructure, management of the Silk Road users, and operating in a manner to attempt to thwart law enforcement,” read the extradition statement.

The brains behind the criminal enterprise

Ulbricht also disclosed in his journal entry that Variety Jones also served as his fixer and this was with regards to delivering proclamations and handling troublesome users of the online drug-dealing website. As an advisor Ulbricht relied on Variety Jones to guide him in devising rules for the Silk Road community, finding a successor, drawing a will and coming up with ways of thwarting law enforcement.

According to IM chats obtained by federal authorities, the Dead Pirate Roberts pseudonym was suggested to Ulbricht by Variety Jones and the Silk Road founder began using it in early 2012 (Silk Road started operating in January 2011). This was in a bid to cover his tracks since Ulbricht had disclosed he was running Silk Road to a college friend as well as an ex-girlfriend.

It also emerged from the Ulbricht trial which concluded in February 2015 that Variety Jones had suggested that Curtis Clark Green, a former Silk Road employee who had been suspected of stealing Bitcoins from the site, be killed. Green was never killed though as the Drug Enforcement Administration faked his death as he was a cooperating witness at the time.

In the event of conviction, the minimum sentence that Clark could face is 10 years behind bars.

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Germany: Financial Experts Don’t See Crypto as an Everyday Payment Method by 2020

Cryptocurrencies such as Bitcoin or Ethereum will not be accepted as a payment method in Germany in by 2020, according to a survey by the Center for European Economic Research (ZEW), Cointelegraph auf Deutsch reported June 14.

As part of ZEW’s monthly financial market report, the research institute polled up to 300 experts from banks, insurance companies, and finance departments of selected large companies. ZEW polled experts on their assessment of whether cryptocurrencies would soon be adopted for everyday payment purposes. 

Respondents were skeptical about “the likelihood of being able to pay for a to-go cup of coffee” with crypto in Germany. Only 13 percent could imagine a general cryptocurrency payment option in 2020 for such products. 23 percent of respondents said they could imagine such a possibility in the US and Japan. The report continues:

“According to the results of the survey, the likelihood that it will be possible to pay for digital products such as music with cryptocurrency in Germany by the end of 2020 currently stands at 23 percent. In comparison, the prognosis for other industrialised countries such as Japan (34 percent) and the US (35 percent) were somewhat more optimistic”.

Only six percent of respondents thought that by 2020, crypto would be a viable payment instrument for buying a car in Germany. In Japan and the US, 13 and 15 percent respectively found this to be a possibility. ZEW scientist Dr. Dominik Rehse explained the results:

“One explanation for our findings could be the expectation that conventional payment methods already largely satisfy the requirements of market participants, while cryptocurrencies – even by the end of 2020 – are seen as still being too technically complex for everyday use or involving excessively high transaction costs”.

While cryptocurrencies have experienced a veritable boom in speculative and asset values ​​over the last year, their use as a payment method seems to remain a marginal phenomenon for the time being. The CEO of the payment service provider Western Union spoke to this trend, saying in a speech at the Economic Club of New York that customers still prefer fiat over digital currencies because of better usability. As a result, Western Union will not be offering a crypto transfer option to their global money transfer service in the foreseeable future.

Participate in Cremit’s ICO PreSale – First Insurance Service Provider for Cryptocurrencies!

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Cremit, an innovative Blockchain project providing insurance and banking services for the first time against cryptocurrency assets, has created ripples in the crypto space for being unique in their approach. Cremit’s ICO pre-sale is ongoing and you can still grab yourself a chance to participate and get CRMT tokens. While the project’s Main ICO is scheduled to launch between July-September 2018, it isn’t surprising that many Tech Pundits who actively participate in events around cryptocurrencies and ICOs, in particular, have already been keeping a close look at the project’s progress.

Cremit, is an interesting innovation as it provides for a typical insurance and banking services for cryptocurrencies and also offers interest on Deposits and fixed deposits, all the while leveraging the Blockchain technology to provide its users with enhanced security and transparency. As Cryptocurrencies, today are more popular than ever, what makes Cremit unique is that it addresses one of the biggest and most common risks facing the investors and potential investors in the crypto world and that is “ fluctuating prices due to market volatility.”

“This is a game changer for the crypto world as the biggest fear for anyone who owns altcoins is market volatility in cryptocurrency. We offer insurance for Bitcoin, Ethereum and other coins against such volatilities. You can claim up to 100% insurance for your coins insured in Cremit” said, Cremit CEO, Amit Singh.

Cremit Insurance Slab

Source

Cremit’s platform also offers some promising features including a multi-crypto Cremit exchange and multi crypto wallet where the users will be able to make seamless transactions free of charge.  The exchange in itself will be one of the most advanced crypto exchanges with an ability to process 200,000 orders/transactions per second which means negligible wait time facilitating seamless transfers for Cremit Users.  As cryptocurrencies are becoming one of the hottest investment avenues for a vast pool of investors from all across the globe, Cremit is aiming to capitalize on its striking features and emerge as a leading risk management and exchange platform for Cryptocurrency investors and users.

Apart from a strong team of talented and experienced experts spearheading the Cremit Project, they have recently been joined by some very established names like Phillip Nunn and renowned Blockchain Geeks, Vladimir Nikitin & Nikolay Shikilev, in their advisor board. While Philip founded the Blackmore Group in 2013, he is a well-known, online influencer in the blockchain and crypto space and has travelled the world evangelising and talking on these subjects.

Sticking to their well defined and articulated roadmap Cremit launched their ICO presale on schedule and while the lot 2 of the ICO pre sale is now open to public one can participate in the ICO presale on Cremit’s Website. The CRMT tokens will also be available for sale during their main ICO crowdsale will be launched soon in between July-September 2018. As blockchain is evolving and with billions of dollars in investment the very idea of getting cryptocurrencies insured is indeed endearing.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Price Analysis, June 15

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

The Securities and Exchange Commission doesn’t consider Ether to be a security. This news led to a bounce in most of the top 100 cryptocurrencies pushing their total market capitalization from $265 billion on June 13 to $290 billion on June 15.

Bitcoin prices also recovered on June 14. In a study, Fundstrat’s head of research Thomas Lee noted that Bitcoin declines about 18 percent, leading to the Bitcoin futures expiration on the CBOE. The recovery happens by day six, following the expiration. So, if the theory holds good this time, we should see a recovery in Bitcoin from next week. We shall keep this in mind during the analysis, but we will not trade solely on this finding.

While many retail investors are waiting for lower prices, big money is unfazed by the fall and is ready to invest in digital currencies. To cater to this demand, US crypto exchange Coinbase has opened its Index fund to large-scale investors.

Stephen Bannon, a former Chief Strategist for U.S. President Donald Trump’s administration, is the latest to voice his support for cryptocurrencies. He also said that he holds a “good stake” in Bitcoin.

After the recent bounce, is it a good time to buy? Let’s find out.

BTC/USD

In the last two years, Bitcoin has always bounced sharply from the oversold levels on the RSI. This streak was broken when the most recent pullback from $7,106 on May 29 could only rally to $7,755.61. Hence, traders should avoid initiating long positions only on the basis of the RSI signal.

A number of analysts are advocating downtrend for the digital currency. We, however, have maintained that it is likely to remain range bound with the bottom being $6,075.04. The leading digital currency has not broken below the intraday lows made on February 06, and the moving averages have been crisscrossing each other frequently, which is a proof that the trend is not down but range bound.

BTC

The best way to trade a range is to buy, when the price is at the bottom of the range. However, we have introduced an added filter to increase our factor of safety.

In 2018, a break out of the 20-day EMA has been a short-term trading opportunity. If history repeats itself and the BTC/USD pair embarks upon a rally, we want to buy it once it breaks out and sustains above the 20-day EMA. The overhead resistances are $7,755.61, $8,566.4 and $8,888.

None of our assumptions are set in stone. We change them as and when the charts change. So, if the price breaks down and sustains below $6,075.04, we shall turn negative and avoid any fresh purchases.

ETH/USD

The breakdown of the $492.5 levels on June 13 proved to be temporary, as Ethereum rebounded sharply on June 14, following the good news. The pullback stalled at the resistance line of the descending channel. Today, the bears are trying to sink the digital currency back below $492.5 levels. If they succeed and break below the June 13 lows of $450.1, the decline can extend to the support line of the descending channel.

ETH

On the other hand, if the bulls hold the zone between $450.1-$492.5, then another pullback attempt is probable. On the upside, the ETH/USD pair can face selling at the resistance line of the descending channel, at the 20-day EMA and the downtrend line.

Hence, we shall propose a long position only on a breakout and close (UTC) above the downtrend line.

There is no buying opportunity at the current levels, hence, it is best to remain on the sidelines.

XRP/USD

The previous support at $0.56270 is acting as a resistance. If Ripple doesn’t break above this level quickly, it will continue to fall towards the final support at $0.45351. We anticipate a strong buying close to this level because if this breaks, the next support lies way lower at $0.24.

XRP

The XRP/USD pair will turn bullish only on a breakout of the downtrend line of the descending triangle. However, it will start to show signs of recovery once it sustains above the recent swing high of $0.70292.

There are no bullish formations or any signs of a confirmed bottom yet, hence, we are not recommending any long positions on it.

BCH/USD

Bitcoin Cash looks weak. Though it is close to the critical support zone of $777.5304-$736.0137, the pullback on June 14 did not even reach the downtrend line. This shows that the buyers are in no hurry to own the digital currency at these prices.

BCH

The first sign of strength will be when the price breaks out of the 20-day EMA and the downtrend line.

On the downside, any break below $736 levels can sink the BCH/USD pair to $620 levels. Currently, we don’t find any buy setups; hence, we are not suggesting any trade on it.

EOS/USD

EOS rebounded sharply from $9.0887 on June 13 and scaled above the $10.3384 level, which is a bullish sign.

EOS

The EOS/USD pair is correcting today, but if the bulls can stem the fall above the $9 levels, it will indicate that the retracement is over. We shall recommend a long position once the price breaks out of the 20-day EMA and the downtrend line.

If the bears force a break below $9 levels, it will indicate weakness and the digital currency can slide to $8 and below that to $6 levels. We shall get a clear picture in the next couple of days.  

LTC/USD

Litecoin looks weak. Both the moving averages are sloping down. The rebound from $90.994 on June 13 did not even reach the breakdown levels at $107.102 even though the RSI was in a deep oversold territory. This shows that the buyers are still not keen to own the virtual currency at these levels.

LTC

The downtrend will resume once the digital currency breaks below $90.994 levels. The next levels to watch out on the downside are $84.708 and $75.131.

The LTC/USD pair will gain some strength if it breaks out and sustains above the $107.102 levels for a few days. Until then, all rallies are likely to be sold.

ADA/USD

Cardano has turned down just after a day’s pullback on June 14. If history repeats itself, it might spend a few days near the $0.15 levels, frustrating the traders.  

ADA

We consider $0.13 to be major support. If this holds, our view of a large range in the ADA/USD pair will be validated, which will offer us a low-risk and high-reward trading opportunity.

However, if the support at $0.13 breaks, the decline can extend to $0.078 levels. We shall get better clarity in a few days.

XLM/USD

Stellar bounced from just above the $0.2 levels on June 13, but higher levels are attracting selling. This shows that it is still not out of the woods.

XLM

If the bulls hold the next decline above the $0.2 levels and bounce off strongly from there, it will indicate a likely bottom, and we might recommend a long position.

On the other hand, if the bears sink the XLM/USD pair below the $0.2 levels, a retest of $0.184 is likely.

As the next move is still not clear, we recommend waiting for a few more days before entering any long position.

IOTA/USD

The pullback from the lows of June 13 was short lived as it could not rise above the $1.33 levels. The previous support will now act as a resistance. IOTA will fall to $0.9150 levels if it breaks below $1.22.

IOTA

We anticipate buyers to return close to the $0.9150 mark. By then, the RSI will also be in the oversold territory, which will elicit a pullback.

If the bulls fail to hold the $0.9150 levels, the IOTA/USD pair can decline to $0.666 levels. Therefore, we shall wait for a confirmation of a bottom before suggesting any new trades.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.