Category Archives: News

Sirin Labs Founder Reportedly Scammed in a Bitcoin-Grin Scheme

The founder and co-CEO of Sirin Labs – one of the popular ICO projects of 2018, has reportedly been scammed out of a ‘significant’ amount of Bitcoin while attempting to purchase Grin in bulk. 

Moshe Hogeg Victim to a Bitcoin Scam

The popular Israeli blockchain entrepreneur Moshesh Hogeg has been scammed out of ‘significant’ amount of Bitcoin, local Israeli media reports.

Hogeg has posted on Facebook in a local Bitcoin community, describing the unfortunate circumstances he’s been through.

He says that he attempted to purchase a large amount of Grin through a trusted over-the-counter service, using Bitcoin for the purchase.

He has reportedly connected with a reliable seller through Telegram. What is more, the seller has been recommended to him by a third-party ‘trustee’. Before sending the Bitcoin, Hogeg has requested for a certain amount of Grin to be sent to him as proof that the seller actually owns the coin.

After the confirmation transaction had been carried out and Hogeg received the Grin as proof of ownership, he supposedly sent the necessary amount of Bitcoin.

At this time, both the seller and the trustee disappeared and never resurfaced. Hogeg says that he is already consulting his lawyer over his next steps. While the amount of Bitcoin lost remains undisclosed, it is supposedly ‘significant’.

Hogeg is the co-CEO and founder of a popular blockchain project Sirin Labs. It managed to raise $150 million during its ICO for the development of a smartphone based on the blockchain.

The project got a lot of publicity, especially after signing Lionel Messi to endorse it. Just a few days ago, Sirin Labs opened the first shop selling its blockchain-based smartphone – Finney.

What do you think of Moshe Hogeg falling victim to this scam? Don’t hesitate to let us know in the comments below!

Images courtesy of The Times of Israel

The post Sirin Labs Founder Reportedly Scammed in a Bitcoin-Grin Scheme appeared first on Live Bitcoin News.

Source: Bitcoin News

Ethereum Price Analysis: ETH Trading Near Crucial Turning Point

  • Ethereum price declined recently and revisited the key $113 and $114 supports against the US Dollar.
  • ETH is trading below a crucial bearish trend line with resistance at $120 on the 4-hours chart (data feed from Coinbase).
  • The price will most likely make the next significant move either above $120 or below $113 in the near term.

Ethereum price is under a lot of pressure below the $120 pivot level against the US Dollar. ETH is preparing for the next break either above $120 or towards $100 in the coming sessions.

Ethereum Price Analysis

In the past few days, there were mostly bearish moves below $135 in Ethereum price against the US Dollar. The ETH/USD pair declined from the $160 swing high and settled below the $140 and $138 support levels. It traded towards the $113 and $114 support levels and later recovered a few points. The price climbed above the $120 and $125 levels, but it struggled to gain traction above $130-132. As a result, there was a fresh decline and a few swing highs were formed near $128 and $126. The last swing high was near $126 before the price retested the $113 support area.

It is currently trading a few points above the $113 support. An immediate resistance is the 23.6% Fib retracement level of the recent drop from the $127 swing high to $113 swing low. More importantly, there is a crucial bearish trend line in place with resistance at $120 on the 4-hours chart. Above the trend line, the 50% Fib retracement level of the recent drop from the $127 swing high to $113 swing low is near $120. Finally, the 55 simple moving average (4-hours) is positioned near the $121 level. Therefore, a break above the $120-121 resistance zone is must for a fresh recovery.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price seems to be preparing for the next significant move either above $120 or below $113. Above $120-121, the price may test $130, and below $113, the price could test $100.

Technical indicators

4-hours MACD – The MACD for ETH/USD is placed heavily in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for ETH/USD is currently well below the 35 level.

Key Support Level – $113

Key Resistance Level – $121

The post Ethereum Price Analysis: ETH Trading Near Crucial Turning Point appeared first on Live Bitcoin News.

Source: Bitcoin News

Large Indian Bank Clamping Down on Cryptocurrencies

One of the largest banks in India is asking its users to consent that they won’t be using their accounts to trade Bitcoin or other cryptocurrencies. The bank also asks for authorization to immediately shut down an account if it’s associated with digital currencies. 

Things Are Not Looking Good in India

On April 6th, the Reserve Bank of India (RBI) ordered all regulated financial institutions to refrain from working with cryptocurrency-related businesses of any kind.

The move was met with a swift response from the industry which challenged the order. However, a few months later, on July 3, the Supreme Court of India upheld the ban, delivering a heavy blow to the entire field.

It wasn’t long before this took its toll on the industry. In October, India’s very first Bitcoin ATM was shut down and both of the founders of the company which operated it were arrested.

In December, Live Bitcoin News reported that the country is allegedly planning to end its statewide cryptocurrency ban. Purportedly, the Government has created an interdisciplinary committee which is figuring out ways to legalize and regulate the cryptocurrency industry instead of banning it straight away.

However, a month later, one of the country’s biggest banks has also gone against crypto.

HDFC Jumps on the Anti-Crypto Bandwagon

A Twitter user CryptoIndia YT (@Cryptoindia) shared that HDFC has requested users to confirm that they won’t use their bank accounts for trading Bitcoin or any other cryptocurrency.

Additionally, the bank has also requested its clients to “authorize the bank to close the above account without any further notice if it is observed in future that transactions have been carried out for Bitcoin/virtual currencies.”

HDFC is currently the third largest bank in India and it has around 89,000 employees throughout its branches.

What do you think of HDFC going against cryptocurrencies? Don’t hesitate to let us know in the comments below!

The post Large Indian Bank Clamping Down on Cryptocurrencies appeared first on Live Bitcoin News.

Source: Bitcoin News

Binance CEO Thinks the Cryptocurrency Market is Undervalued

The CEO of the world’s largest cryptocurrency exchange by means of traded volume – Binance, holds that the current state of the market is undervalued. 

Cryptocurrency Bear Market a Stretch

Speaking at the Binance Blockchain Week in Singapore, the CEO of Binance, Changpeng Zhao, shared his thoughts on the current state of the industry.

According to him, the market is currently undervalued because its pricing doesn’t seem to factor in the ongoing development and interest attested to it.

There are more people in the industry, there are more people working in the industry, there are more people attending conferences, there are more conferences going on. The builders are building, we are seeing a lot more development in the space, so I actually think that we’re probably overshooting on the lower side, but again I could be wrong, this is mass technology. – He said.

It’s worth noting that a recent Diar report revealed that cryptocurrency exchanges marked a record year in 2018, despite the plunging prices.

2017’s Bull Run Also Overshot

It’s worth noting, however, that Zhao also seems to believe that 2017’s unprecedented bull run was also a bit of a stretch.

I believe… at the end of 2017, there was definitely an overshoot on the price side… There was a lot of guys rushing in, very simple projects with very simple whitepapers. […] Then of course as everybody rushed in…once that massive rush-in finishes the price declines. – Zhao noted.

2017 saw most of the cryptocurrency skyrocket, as the entire market reached a capitalization upwards of $800 billion. Bitcoin (BTC) was trading upwards of $20,000.

2018, however, hasn’t been so favorable. The market lost almost $700 billion of its capitalization while its forerunner is currently trading at around $3,500.

What do you think about Zhao’s position on the current state of the market? Do you think it will pick up in 2019 or will we fall even further? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock

The post Binance CEO Thinks the Cryptocurrency Market is Undervalued appeared first on Live Bitcoin News.

Source: Bitcoin News

Buy Bitcoin at Thousands of Stores at Coinstar Kiosks

A Bitcoin ATM company based in the US has announced a partnership with a major multi-national coin-counting company to enable users to buy Bitcoin (BTC) at thousands of kiosks in different stores. 

Buy Bitcoin at Your Local Grocery Store

Coinme – reportedly the first blockchain-oriented state-licensed Bitcoin ATM operator in the US has announced a partnership with the international coin-counting company Coinstar.

According to the official release, this will enable users to enable people to buy Bitcoin in a quick and convenient way while handling their regular, daily routines like shopping for groceries, for example.

This is thanks to the more than 20,000 fully automated self-service coin-counting kiosks which are spread in nine countries operated by Coinstar.

Speaking on the matter, Neil Bergquist, CEO at Coinme said:

We’re excited to team up with Coinstar to give consumers a convenient and easy way to buy Bitcoin during the course of their daily routines. […] Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make it even easier for consumers to participate in this dynamic new economy.

The process is also fairly straightforward. According to the official release, there are four steps which need to be taken:

  1. Go to a select Coinstar kiosk, touch “Buy Bitcoin,” review and accept the transaction terms, and enter your phone number.
  2. Insert U.S. paper money into the cash acceptor (any amount up to $2,500).
  3. Receive a voucher with a Bitcoin redemption code.
  4. Visit www.coinme.com/redeem to create a Coinme account or sign in to your existing account to claim your Bitcoin.

Increased Adoption

Coinme’s partnership is just another step toward increasing the widespread adoption of Bitcoin and other cryptocurrencies.

According to the Bitcoin ATM tracking website Coinatmradar, there are currently 4188 ATMs in 76 countries.

It’s also worth noting that since January 1st, people can also buy Bitcoin in thousands of French tobacco shops.

Do you think Bitcoin is seeing an increased adoption? Don’t hesitate to let us know in the comments below!

The post Buy Bitcoin at Thousands of Stores at Coinstar Kiosks appeared first on Live Bitcoin News.

Source: Bitcoin News

Thailand’s Stock Exchange Eyeing a Digital Asset License

Thailand’s Stock Exchange (SET) is reportedly planning to apply for a digital asset operating license. If granted by the country’s Finance Ministry, the license will see the SET becoming an authorized digital asset exchange. 

SET Eying a Digital Asset License

According to a report from the Bangkok Post, SET intends to apply to the country;’s Finance Ministry in order to obtain a license for operating with digital assets. If granted, the exchange will be able to establish a cryptocurrency trading platform.

According to the Chairwoman of the Association of Securities Companies, and vice-Chairwoman of the board of governors of SET, Pattera Dilokrungthirapop, the exchange wants to start catching up with the growing trend in cryptocurrency investing.

While the SET’s attested its interest in the field, according to Pattera, it won’t be rushing into it:

We [securities firms] are not in a hurry to enter the digital asset trade, as some companies are still managing their core businesses, while cryptocurrencies are just one of the [digital] asset classes where brokers can adapt their trading platforms to serve digital trading. […] Securities firms are currently waiting for the SET to apply for a license. For us, digital assets are expected to grow in the future as investors gain more understanding of this asset class.

Thailand and Blockchain

Thailand’s involvement with cryptocurrencies and blockchain goes back some time.

Live Bitcoin News reported that the country’s Revenue Department is planning to use blockchain technology as well as artificial intelligence in order to crack down on tax evasion, as well as to improve refunds and tax filing.

Additionally, the Bank of Thailand has also stated that they would be using DLT-based technology to issue their own Central Bank Digital Currency (CBDC).

What do you think of SET’s decision to apply for a digital asset license? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock

The post Thailand’s Stock Exchange Eyeing a Digital Asset License appeared first on Live Bitcoin News.

Source: Bitcoin News

Bitcoin Cash (BCH) Near Crucial Juncture, Can Buyers Gain Momentum?

  • Bitcoin cash price extended declines recently and broke the $140 support level against the US Dollar.
  • There is a crucial bearish trend line in place with resistance at $135 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
  • The pair is positioned for the next major move either above $135 or below $120 in the near term.

Bitcoin cash price traded below the $150 and $140 supports against the US Dollar. BCH is now looking for the next key break either above $135-140 or towards $100 in the near term.

Bitcoin Cash Price Analysis

Recently, bitcoin and Ethereum faced an increased selling pressure, which dragged bitcoin cash price below $140 against the US Dollar. The BCH/USD pair formed a high near the $163 level and later declined steadily below $150. It broke the $140 and $135 support levels to move into a bearish zone. The price tested the $120 support, where buyers emerged and protected losses. A low was formed near $120.5 and later the price started consolidating losses. It corrected a few points above the $125 and $127 levels.

There was also a break above the 23.6% Fib retracement level of the recent decline from the $163 high to $120 low. However, buyers failed to hold gains above $130 and there was no test of the 55 simple moving average (4-hours). The price trimmed gains and it is currently trading well below $130. More importantly, there is a crucial bearish trend line in place with resistance at $135 on the 4-hours chart of the BCH/USD pair. A proper break above the trend line could open the doors for more gains. The next key resistance is $140 and the 50% Fib retracement level of the recent decline from the $163 high to $120 low.

Bitcoin Cash Price Analysis BCH Chart

Looking at the chart, bitcoin cash price is clearly positioned for the next major move either above $135 or below $120. If there is a downside break below $120, the price may test the $100 support.

Technical indicators

4-hours MACD – The MACD for BCH/USD is currently flat in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for BCH/USD is struggling to move above the 50 level.

Key Support Level – $130

Key Resistance Level – $120

The post Bitcoin Cash (BCH) Near Crucial Juncture, Can Buyers Gain Momentum? appeared first on Live Bitcoin News.

Source: Bitcoin News

Logistics Giant UPS Reveals Equity Investment in Blockchain e-Commerce Platform

Blockchain-based e-Commerce platform for B2B has revealed a partnership, as well as an equity investment by logistics giant UPS’ Strategic Enterprise Fund. 

Blockchain-Based E-Commerce Platform

According to an official press release, logistics giant UPS, through its investment arm – the company’s Strategic Enterprise Fund, has made an equity investment in e-commerce oriented company Inxeption.

The company has designed a B2B e-commerce platform based on blockchain technology, intended to integrate segments such as product design, supply chain, and manufacturing. The idea is to enable merchants to grow revenues and increase online sales in a more scalable way.

Speaking on the matter, UPS’ Chief Marketing Officer Kevin Warren, outlined:

Inxeption’s technology is attractive to UPS because it helps unlock new efficiencies for customers using B2B e-commerce platforms. […] UPS creates alliances and partnerships to gain market knowledge and position the company as the shipper of choice in ecommerce.

UPS And Blockchain

This is not the first engagement of the logistics giant with the field of blockchain technology.

Last year, the company filed an application for a patent with the Patent & Trademark Office of the US.

The company was seeking legal protection for a system which uses blockchain technology to store different types of data within a distributed ledger.

In general, blockchain technology has seen positive reception in the shipping industry. Again in 2018, Australia’s Commonwealth Bank managed to ship and track 17 tons of almonds using distributed ledger technology.

Additionally, Live Bitcoin News reported that IBM and Ford have teamed up in a pilot project which uses blockchain to track ethically sourced minerals.

What do you think of UPS’ latest investment in a blockchain-based e-commerce platform for B2B? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock

The post Logistics Giant UPS Reveals Equity Investment in Blockchain e-Commerce Platform appeared first on Live Bitcoin News.

Source: Bitcoin News

Cardano (ADA) Remains Bullish, Could Revisit $0.0500

  • ADA price corrected lower and found support near the $0.0400 level against the US Dollar.
  • There is a major bullish trend line formed with support at $0.0415 on the 4-hours chart (data feed via Kraken).
  • The price is trading with a positive bias and it may continue to grind towards $0.0480 or $0.0500.

Cardano price is placed nicely in an uptrend against the US Dollar and Bitcoin. ADA could gain bullish momentum towards $0.0500 if there is a clear break above $0.0465.

Cardano Price Analysis

After a massive rally above the $0.0550 level, cardano price started a downside correction against the US Dollar. The ADA/USD pair declined below the $0.0500 and $0.0465 support levels to trim most its gains. It even traded below the $0.0420 support before buyers emerged near the $0.0400 support. A swing low was formed near $0.0391 before the price started an upward move. Buyers gained strength recently and pushed the price above $0.0420. The price even traded above the 23.6% Fibonacci retracement level of the recent decline from the $0.0546 swing high to $0.0391 low.

Currently, the 55 simple moving average (4-hours) is acting as a resistance near the $0.0450 level. The next key resistance is near the $0.0465 and $0.0466 levels. Besides, the 50% Fibonacci retracement level of the recent decline from the $0.0546 swing high to $0.0391 low is near $0.0469. Therefore, a proper break above the $0.0465 and $0.0469 levels may clear the path for more gains. The next stop for buyers could be $0.0500 or $0.0515. An intermediate resistance is $0.0487 and the 61.8% Fibonacci retracement level of the recent decline. On the flip side, if there is a downside correction, the $0.0435 and $0.0420 levels may act as support.

Cardano Price Analysis ADA Chart

The chart indicates that ADA price remains well supported on the downside above $0.0400. There is also a major bullish trend line formed with support at $0.0415. Therefore, there are high chances of more gains above $0.0465 and $0.0480.

Technical Indicators

4-hours MACD – The MACD for ADA/USD is moving nicely in the bullish zone.

4-hours RSI – The RSI for ADA/USD is well above the 50 level, with a bullish angle.

Key Support Level – $0.0420

Key Resistance Level – $0.0465

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Source: Bitcoin News

IBM, Ford to Use Blockchain in Tracking Ethically Sourced Minerals

In a push to support human rights and environmental protection, IBM, Ford Motor Company, amid other corporate moguls, will pilot a blockchain project to track ethically sourced minerals in the Democratic Republic of Congo (DRC).

Blockchain to Track Ethically Sourced Minerals

Blockchain-based technology will be used to track the sourcing and distribution of ethically sourced minerals – cobalt, in particular, in the Democratic Republic of Congo. According to the official release,

The blockchain pilot aims to introduce more transparency into the global mineral supply chains. Participants in the project are marquee companies representing each major stage of the supply chain. These include Ford Motor Company, Huayou Cobalt, IBM, RCS Global, and LG Chem.

Each of the participants in the designated network will be validated against the necessary sourcing standards, as developed by the Organization for Economic Cooperation and Development (OECD).

Besides participant validation, blockchain technology will also guarantee data immutability, making information accessible by all permissioned participants in real time.

IBM’s Blockchain Platform

As the pilot scheme is already in progress, the release also reveals that the project will use IBM’s Blockchain platform powered by Linux’s Hyperledger Fabric.

IBM’s been heavily invested into blockchain technology as the company has over 400 people working on projects involving it. It’s also been involved in other supply chain network-oriented projects revolving around the usage of blockchain before.

Speaking on the matter was Manish Cawla, GM, Global Industrial Products Industry at IBM, who said:

With the growing demand for cobalt, this group has come together with clear objectives to illustrate how blockchain can be used for greater assurance around social responsibility in the mining supply chain. […] The initial work by these organizations will be used as a precedent for the rest of the industry to be further extended to help ensure transparency around the minerals going into our consumer goods.

What do you think of the blockchain-based project to track ethically sourced minerals? Don’t hesitate to let us know in the comments below!

 

The post IBM, Ford to Use Blockchain in Tracking Ethically Sourced Minerals appeared first on Live Bitcoin News.

Source: Bitcoin News

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