Tuesday, May 22Your Daily Bitcoin & Altcoin News Portal

Author: Wealthy Miner

Nobel Prize Winning Economist Predicted the Rise of Digital Currencies Nearly Two Decades Ago

Nobel Prize Winning Economist Predicted the Rise of Digital Currencies Nearly Two Decades Ago

FINANCE
American economist and Nobel Prize winner in Economic Sciences Milton Friedman has aptly predicted the rise of digital currencies like Bitcoin in 1999. In his claim, Friedman said that a reliable but discreet method of financial transactions will develop on the Internet in the near future. In an interview conducted by NTU/F in 1999, Friedman said: The one thing that’s missing, but that will soon be developed, it’s a reliable e-cash. A method where buying on the Internet you can transfer funds from A to B, without A knowing B or B knowing A. The way in which I can take a 20 dollar bill and hand it over to you and there’s no record of where it came from. And you may get that without knowing who I am. That kind of thing will develop on the Internet. Friedman was considered among
New Bitcoin Apps are Leveraging the Lightning Network

New Bitcoin Apps are Leveraging the Lightning Network

BITCOIN
On June 5 the Lightning Network Community published a blog post about the emerging developer ecosystem being built around the ‘Lnd’ Lightning Network infrastructure and the many applications being constructed using the codebase. The post revealed some tipping bots, a Mac GUI wallet, and other types of platforms modeled with the alpha release of Lnd. This past January Bitcoin.com reported on the Lightning Network alpha release which is a full implementation of Lightning called Lnd. Since then a lot has been going on with the Lightning project as developers are testing the code and building applications. This past April the team used the Lnd framework and bitcoin testnet coins to purchase beer at the popular Room 77 bar in Berlin. Although the project is still in it’s alpha phase, Lig
United States CFTC Approves Blockchain Startup to Trade Digital Currency Derivatives

United States CFTC Approves Blockchain Startup to Trade Digital Currency Derivatives

BLOCKTECH, FINANCE
The US Commodity Futures Trading Commission (CFTC) has granted blockchain startup LedgerX its formal registration as a swap execution facility (SEF), making it the second company ever to be granted the ability to trade digital currency derivatives. While a notable milestone, it’s the latest in a long process for LedgerX that is still far from over. Still pending approval is the final regulatory milestone to launching what could end up being the first cryptocurrency options firm licensed by the CFTC to do business in any number of cryptocurrencies, including bitcoin and ether. LedgerX CEO Paul Chou said: We are pleased to have received full registration as a SEF from the CFTC for the trading of digital currency derivatives. Founded in 2013, LedgerX first received a temporary app
Bitcoin Price Technical Analysis – Ascending Triangle Resistance

Bitcoin Price Technical Analysis – Ascending Triangle Resistance

PRICE ANALYSIS
Bitcoin price is testing the ascending triangle resistance, still deciding whether to make a bounce or an upside breakout. Bitcoin Price Key Highlights Bitcoin price has formed higher lows and hit resistance at $2600, creating an ascending triangle pattern on its short-term charts. Price is still hovering around the resistance and could be due for a move back to support if it holds as a ceiling. Technical indicators are giving mixed signals at the moment. Bitcoin price is testing the ascending triangle resistance, still deciding whether to make a bounce or an upside breakout. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. The gap between the moving averages is getting wider to reflect st...
Ethereum Price Technical Analysis – ETH/USD Range Bound

Ethereum Price Technical Analysis – ETH/USD Range Bound

PRICE ANALYSIS
Ethereum price is trading in a range against the US Dollar and Bitcoin, and ETH/USD needs a close above $282 for further gains in the near term. Key Highlights ETH price remained in a range below $265 against the US Dollar, but soon approaching a break. There is a connecting bearish trend line with resistance at $265 forming on the hourly chart of ETH/USD (data feed via SimpleFX). On the upside, there are two important resistance levels- $265 and $282. Ethereum price is trading in a range against the US Dollar and Bitcoin, and ETH/USD needs a close above $282 for further gains in the near term. Ethereum Price Resistances There was no major action in ETH price during the past 2-3 sessions, as it remained below $282 against the US Dollar. It looks like the price is tradi
Ethereum Classic Price Technical Analysis – ETC/USD To Break Higher?

Ethereum Classic Price Technical Analysis – ETC/USD To Break Higher?

PRICE ANALYSIS
Ethereum classic price is reaching a break zone against the US Dollar and Bitcoin, and ETC/USD might soon surge higher above $18.00 in the near term. Key Highlights Ethereum classic price is placed well above the $17.00 handle against the US Dollar. This week’s major contracting triangle pattern with resistance at $17.60 on the hourly chart (data feed via Kraken) of ETC/USD is about to break. The price is currently above the $17.00 support and the 100 simple moving average. Ethereum classic price is reaching a break zone against the US Dollar and Bitcoin, and ETC/USD might soon surge higher above $18.00 in the near term. Ethereum Classic Price Resistance In the last analysis, we saw a major contracting triangle pattern with resistance at $18.00 on the hourly chart (dat
National Science Foundation Awards $450k for Cryptocurrency Incentive Study

National Science Foundation Awards $450k for Cryptocurrency Incentive Study

ADOPTION, ALTCOINS, BITCOIN, BLOCKTECH
A Princeton University researcher has received more than $400,000 in federal funding to study mechanism incentives and their applications to cryptocurrencies like bitcoin. The study project, “Duality-based tools for simple vs. optimal mechanism design and applications to cryptocurrency”, is being led by Seth Weinberg, an assistant professor of computer science at Princeton. The grant, worth $450,000, was awarded on 28th June by the National Science Foundation. The project is set to begin in September and will last until August 31, 2020, according to the NSF. As the organization’s website explains: “A secondary focus of this project is to apply these theoretical foundations to resolve cryptocurrency incentive issues arising within Bitcoin, an emerging cryptocurrency. While bitcoi
What Monopoly? Blockchain Startup Setl Sets Sights Beyond Australia

What Monopoly? Blockchain Startup Setl Sets Sights Beyond Australia

ADOPTION, BLOCKTECH
Setl founder Peter Randall isn’t waiting for permission to build the first competing platform in an Australian post-trade system long dominated by a monopoly. While the Australian Securities Exchange (ASX) enjoys exclusive rights to clear and settle transactions for the nation’s financial institutions, Randall’s startup has already built a service he believes can process the load more quickly and at lower cost than ASX’s proprietary CHESS platform. Ironically, ASX’s exploration of distributed ledger tech with partner Digital Asset Holdings has boosted the blockchain industry in Australia, yet its monopoly means less competition in bringing solutions to market. Nevertheless, Randall isn’t waiting for the nation’s regulators to begin loosening older, monopolistic clearing and se
Digital Currency Market Has Evolved to a New Level

Digital Currency Market Has Evolved to a New Level

FINANCE
Cryptocurrencies have come into their own. For the longest time, the question that everyone would ask was whether their favorite cryptocurrency (usually Bitcoin) would survive in the future? Today, the question is more of what will become of the cryptocurrencies in vogue and what shape the evolving cryptocurrency market is taking. We have seen a significant rise of the altcoins, which were previously dismissed as Bitcoin clones. In May 2017 Ethereum had already surpassed half of Bitcoin’s market capitalization. Coins like Ripple, Ethereum Classic, Dash and others have all seen a phenomenal rise in their prices. So has the cryptocurrency market matured? Are we looking at a new phase in the rise of Bitcoin and other cryptocurrencies? The Growth is Phenomenal There is no doubt that th
Sweden Begins Land and Property Registration on Blockchain

Sweden Begins Land and Property Registration on Blockchain

BLOCKTECH
Lantmäteriet, the land registry of Sweden, officially started to utilize Blockchain technology to register land and properties. Since early 2017, various countries including Brazil have begun to utilize Blockchain technology to facilitate the ownership of land and properties in a decentralized, transparent and immutable network. In an interview with Computer Weekly, Mats Snäll, Lantmäteriet’s head of development, revealed that the Swedish land registry has been actively investing in Blockchain technology and developing a proof-of-concept Blockchain platform since 2016. In March of this year, Lantmäteriet completed the initial phase of trials of its Blockchain-based land and properties registry platform. Snäll said: When we heard about Blockchain and its supposed benefits, we w