Day: August 21, 2018

Vague and Misleading Statements Spotted in Bitmain Investor Deck

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Vague statements in Chinese mining giant Bitmain Technologies’ investor deck ambiguously and potentially misleadingly list investors ahead of its rumored Initial Public Offering (IPO). In a Bitmain pre-IPO investor deck acquired by Cointelegraph, DST Global is listed as an investor, with claims that the investment is “recently completed.”  Henry Wu, a lawyer and legal expert at Chinese law firm L&Y Law Office, spoke with Cointelegraph, explaining that the document’s wording in the original Chinese is left vague. While it is possible to dispute the meaning, to the layperson or an…

Ethereum (ETH) Price Watch: Ready for a Triangle Breakout?

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Ethereum Price Key Highlights Ethereum price has formed lower highs and higher lows to create a symmetrical triangle on the 1-hour chart. Price is testing the top of the triangle and might be due for a bounce. Ethereum is also nearing the peak of the formation, so a breakout in either direction is also a possibility. Ethereum is consolidating inside a symmetrical triangle pattern and is testing the resistance. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is…

‘Valuable’ Potential Applications of Blockchain in Energy Sector Exist

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The U.S. Senate has held a hearing on the energy efficiency of blockchain and similar technologies, according to an announcement published August 21. The hearing on energy and natural resources, held by the U.S. Senate Committee in Washington, DC, focused on the application of blockchain and related technologies, as well as the cybersecurity possibilities of using such technologies in the energy industry. In particular, the committee considered the issue of the possible increase in electricity prices following the rising power demand in blockchain applications. The hearing also touched on the…

Bitcoin (BTC) Price Watch: Major Consolidation Break!

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Bitcoin Price Key Highlights Bitcoin price recently broke to the upside of its consolidation visible on the 1-hour time frame. This could be indicative of further gains in the cards, although oscillators suggest a slowdown in bullish momentum. The strong upside break is being attributed to the looming SEC deadline for some bitcoin ETFs on August 23. Bitcoin price made a sharp upside break from its short-term consolidation to signal that further rallies are in the cards. Technical Indicators Signals The 100 SMA recently crossed above the longer-term 200 SMA…

Experts Debate Crypto’s Future and Discuss Use Cases at BlockShow Americas 2018

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The second day of the BlockShow Americas 2018 kicked off with a robust debate on the usefulness of cryptocurrencies between Nouriel Roubini, CEO of Roubini Macro Associates and predictor of the global financial crisis in 2008, also known as ‘Dr.Doom,’ and Alex Mashinsky, founder of Celsius Network. Roubini argued that “in the space of crypto there is zero security,” claiming there is “no democratization and decentralization.” Mashinsky responded “the current system does not work for seven billion people in the world,” while “only people who work on Wall Street can…

XRP Technical Analysis: Ripple’s CTO David Schwartz A Proud Bitcoin Hodler

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Fundamentally, XRP prices should to be skyrocketing and there are hints of that because on a weekly basis, XRP is up 26 percent. However, when we take a closer look in the daily chart, it appears as if sellers are still in charge rebuffing bullish attempts above 35 cents and even 40 cents, our main resistance line. In any case, news of Ripple product merger would go a long way in boosting prices especially now that testing of xRapid has been a success, From the News Three high liquid and…

BlockShow Panelists Argue About Bitcoin’s Decentralization, Blockchain Pros and Cons

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Today, August 21, at BlockShow Americas 2018, speakers at a blockchain-related panel debated the question of the Bitcoin (BTC) blockchain’s decentralization and the benefits of its applications to the global community. At the discussion panel titled “The Great Controversy: Blockchain as Seen From Major Institutions’ Perspective,” participants argued about the actual need for blockchain applications in payment systems and questioned the decentralized nature of the Bitcoin blockchain, as well as its practical implementation by major financial institutions. Nouriel Roubini, CEO of Roubini Macro Associates, claimed that the fintech industry “has…

China’s Social Media Giant WeChat Blocks a Number of Crypto Media Accounts, Sources Say

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WeChat, the 1 billion-user Chinese social media platform developed by Tencent, has reportedly blocked a number of crypto and blockchain related accounts, local financial news outlet Lanjinger reported August 21. Lanjinger quotes a WeChat official as saying that some public accounts were suspected of publishing Initial Coin Offering (ICO) and crypto trading “hype” in violation of the service’s  “Interim Provisions on the Development of Public Information Services for Instant Messaging Tools” terms. The official said that official orders had been given to block all content and permanently block the relevant…

Bitcoin Mining Giant Bitmain Invests in Blockchain Data Storage Startup

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Chinese bitcoin mining equipment manufacturer Bitmain has invested an undisclosed amount in blockchain data storage startup Lambda, the latter announced last Friday. Bitmain Expands its List of Portfolio Companies The new investment will see to Lambda further developits “secure” blockchain-based infrastructure and decentralized applications, commonly known as dApps. The Singaporean startup has already conducted a tokenized private sale round that attracted investments from FunCity Capital, BlockVC, BlueHill, Zhen Fund, and other well-known institutions. It is now gearing up for an initial coin offering (ICO) round with an aim to raise $5…

VeChain Price Extends Recovery as Market Awaits Bitcoin ETF Ruling

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The vechain price (VET/VEN) rose nearly 10 percent on Tuesday, even as the wider cryptocurrency market struggled just to tread water amidst declining trading volume. VeChain Price Doubles in Just One Week The cryptocurrency, the native token of the eponymous IoT-focused VeChain platform, has been one of the market’s top performers in August, as CCN has already reported. The vechain price continued its climb on Tuesday, rising approximately 9.5 percent for the day, even as no other top 20-cryptocurrency managed to make gains against the US dollar. VET is now…