Thursday, May 24Your Daily Bitcoin & Altcoin News Portal

ALTCOINS

Cryptocurrency Markets Turn Sour yet Again, Top 10 Currencies all Lose Value

Cryptocurrency Markets Turn Sour yet Again, Top 10 Currencies all Lose Value

ALTCOINS, BITCOIN
Most people are well aware of how cryptocurrency volatility is a big problem. Although there are periods during which volatility seemingly quiets down, this week has been filled with wild price fluctuations. As of right now, all currencies and assets in the top 10 are bleeding value once again. IOTA, NEM, and Ethereum are the biggest “losers” of the lot, by the look of things. ANOTHER DAY OF RED CANDLES FOR CRYPTOCURRENCY TRADERS People who speculate on the value of individual cryptocurrencies have hopefully opened a few short positions. All major currencies are going down in value as we speak, which is rather surprising. In fact, Bitcoin is the only currency holding its own, with “just” a 1.3% dip. Other currencies are not faring all that well, with IOTA recording the largest losses
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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
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Litecoin Trading Volume Reaches $1 Billion for the First Time Ever

Litecoin Trading Volume Reaches $1 Billion for the First Time Ever

ALTCOINS
June was one of the most volatile months in the history of the cryptocurrency market. However, it seems that July is off to a more timid start. While a negative trend was seen in the past 24 hours, only one of the top 10 (NEM) fluctuated more than 5%. The cryptocurrency market is still showing much greater volatility than most other markets, but these movements are significantly smaller than those seen in previous times. However Litecoin’s growth and performance has come above all in this market. Litecoin Trading Volume Passes Bitcoin Trading volume for the world’s largest cryptocurrency dropped below $1 billion yesterday.  Litecoin has been perceived by some as the silver to Bitcoin’s gold, has surged yesterday past Bitcoin’s trading volume, crossing the $1 billion mark for the firs
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India Accuses 22 OneCoin Promoters of Running Scam Investment Scheme

India Accuses 22 OneCoin Promoters of Running Scam Investment Scheme

ALTCOINS
Indian authorities have filed a primary charge sheet against 22 individuals accused of promoting OneCoin, a digital currency scheme commonly seen as a scam. In an ongoing crackdown of OneCoin operations in the country, India’s police have filed a primary charge sheet against all related individuals arrested in April and May. A charge sheet is a formal document of accusation submitted by law enforcement agencies to a court of law. The judicial process then sees the court decide if the case goes to trial. According to a report in the Hindu, the charge sheet was filed by the Economic Offence Wing-1 (EOW), an extension of the Central Bureau of Intelligence (CBI) – India’s primarily law enforcement agency. A 15-member team was specifically assigned to investigate the workings and mone
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Bubble-Like ICO Market – Investors Dive In For Short-Term Profit

Bubble-Like ICO Market – Investors Dive In For Short-Term Profit

ALTCOINS, BITCOIN, FINANCE
Recently, Pieter Levels, the founder of popular web and mobile-based platforms such as Nomad List, offered insights into the growing bubble-like ICO market. Levels revealed that he was personally contacted by five developers that pitched an idea for an initial coin offering (ICO) for his most successful product Nomad List, which provides detailed guides to the best cities for digital nomads based on various factors such as cost of living and internet speed. A message received by Levels read: “Hey, why not create NomadCoin, a digital currency for nomads. People would be able to pay for co-workings, coffee, hostels etc. I can help you. You can even raise funds through an ICO / crowdsale.” The above mentioned tasks such as buying coffee and paying rent can already be done with exi
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Will Cryptocurrency See a Third Wave?

Will Cryptocurrency See a Third Wave?

ALTCOINS, BITCOIN
The cryptocurrency industry continues to attract a lot of investors and speculators. So far, we have seen two waves of major price momentum for Bitcoin and other currencies. The bigger question is whether or not we will see the third wave, and if so, what we can expect from it. While it is impossible to predict the future, there is a lot of optimism for Bitcoin right now. CRYPTOCURRENCY’S THIRD WAVE IS COMING The past nine years have been spectacular for both Bitcoin and other cryptocurrencies. Bitcoin first started getting a lot of mainstream attention near the end of 2013. At that time, BTC’s price was skyrocketing, and even hit a peak of $1,200 in early 2014. Unfortunately, that peak was created by the nefarious Willy Bot artificially pushing up the price. Eventually, that manipul
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How to Avoid Being Scammed by a Cryptocurrency ICO

How to Avoid Being Scammed by a Cryptocurrency ICO

ADOPTION, ALTCOINS, BITCOIN, BLOCKTECH
  With cryptocurrency ICOs taking center stage lately, there will be more attempts to scam people as well. It can be difficult to protect oneself against these scams, but some basic precautions will keep most people safe. This new digital craze will need to be regulated somehow, as the amount of scams can get out of hand pretty quickly. Below are some basic tips to avoid getting scammed by a cryptocurrency ICO. 3. DUE DILIGENCE The first step investors always need to take is conducting due diligence on a project. Randomly investing in cryptocurrency ICOs can pay off in the long run, but it also greatly increases one’s chances of investing in a bogus project. Any ICO that does not have a detailed whitepaper should be avoided, as that is a basic requirement for any serious proj
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People’s Bank of China Opens Its Digital Currency Institute

People’s Bank of China Opens Its Digital Currency Institute

ADOPTION, ALTCOINS, BITCOIN
With the opening of its new cryptocurrency research lab, the People’s Bank of China (PBoC) released the official address and other details about the effort this week. According to local media, the People’s Bank of China Digital Currency Institute is located on the 9th floor of Building C, Desheng International Center, an office build complex near Beijing’s financial district. Notably, the building also houses subsidiaries of China Banknote Printing and Minting Corporation, a state-owned corporation that carries out the minting of all renminbi coins, as well as the printing of renminbi banknotes Yao Qian, the former deputy director of PBoC’s technology department, will serve as director of the newly formed facility, which reportedly has seven divisions with research interests incl