Thomas Hughes

A December To Remember: Bitcoin’s Winning Streak in Peril

Bitcoin is trading right on the $4,000 level, with a 2.44% loss over the last 24 hours and a 3.44% gain for the last 7 days
A December To Remember: Bitcoin’s Winning Streak in Peril

For the last 3 years, the month of December has been prolific for the world’s largest digital asset (BTC), which posted gains of 14%, 30%, and 40% in 2015, 2016 and 2017, respectively. That “winning streak” might snap this December, considering that Bitcoin and the crypto market, in general, have been tanking heavily during the last period.

Chart Analysis – BTC/USD

image

Currently, Bitcoin is trading right on the $4,000 level, with a 2.44% loss over the last 24 hours and a 3.44% gain for the last 7 days, but it must be noted that it failed twice to break resistance and the Bollinger Bands are curving downwards once again. The Relative Strength Index has started to move lower as well, and all this points to another possible drop that may have 3500 as a target.

The picture remains relatively blurry, and for the time being there is no clear indication whether the current price action is part of a simple correction in a downtrend or if we are dealing with a possible end to this bearish trend.

Support zone: 4000 area

Resistance zone: 4200 - 4400

Most likely scenario: downtrend resumption if price stays below 4200

Alternate scenario: bullish break of resistance zone and move into 4600

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George Shnurenko

Сrypto Сannabis CEOs Discuss Investing Opportunities in New York

Proactive Investors kicks off its inaugural CryptoCann Capital Forum where crypto/cannabis industry insiders will exchange their views
Сrypto Сannabis CEOs Discuss Investing Opportunities in New York
Contents

Proactive Investors kicks off its first conference season here in the U.S. with its inaugural CryptoCann Capital Forum “Where Are Crypto/Cannabis CEOs  Investing Their Money?”.

The symposium will be held on Wednesday, April 18 at 3 West Club, 3 West 51st street in New York City. Click here to register

The forum, which is free, will showcase senior managers from companies with multi-million-dollar investments in the crypto/cannabis sector as well as industry insiders who will share where and why they are investing in these two sought-after sectors.

CEO presentations

The event will feature presentations by CEOs about their publicly-traded companies, followed by a panel discussion to explore investment opportunities, and then an audience Q&A accompanied by a networking session.

Among the presenting CEOs are Jeff Koyen of 360 Blockchain, John McMullen of LGC Capital and Jason Priest of BlowFish Technologies.

“We are proud to host a forum where investors can gain fresh insight into these growing and compelling sectors and explore where opportunities exist -- and how to profit from them,” said Proactive Investors co-founder and CEO Ian Mclelland.

Investment

At the conference, the CEOs of publicly traded crypto and cannabis companies will discuss tangible and measurable investment opportunities in these two sectors. The event caters to institutional and retail investors who have an interest in learning about investment opportunities in the crypto and cannabis sectors.

"This is our inaugural event here in the U.S.," said Mary Ruggiero, Proactive's manager of events for North America. "The fact that we're picking crypto currency and cannabis. It's almost like a perfect marriage. We're taking these two topics which are so hot and launching an event for it."

Registration for this symposium begins at 4:30 p.m. ET. Presentations and panel discussions conclude at 6:30 p.m., followed by an hour of networking with an open bar and hors-d’oeuvres until 7:30 p.m.

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Wikicoin Alex Morris

BTC vs. XBT: What’s the Difference Between Bitcoin Symbols?

📚 Wikicoin
CoinMarketCap, a touchstone for cryptocurrency research data, displays the BTC ticker, but U.Today tries to determine what other Bitcoin symbols you may stumble upon
BTC vs. XBT: What’s the Difference Between Bitcoin Symbols?
Contents

Understanding crypto tickers

Despite some common beliefs, no one registers a cryptocurrency ticker (they are not protected under copyright law). It pertains to all known crypto tickers, including the ubiquitous BTC and ETH. They are perceived as the standard ones due to the fact that they come straight from Satoshi’s and Vitalik’s respective white papers.

For ICO issuers, it is a mundane practice to specify the name and the ticker of the token to avoid confusion. In order to list stocks, bonds or other securities on the NYSE, there is an approval process involved, but there are no geographical restrictions, which essentially means that the same ticker could work in another country. However, when it comes to the decentralized world of cryptocurrencies, it is not an easy feat — there are certain coins in the likes of Nimiq’s NET that fail to get listed on exchanges because it coincides with another cryptocurrency.

The tale of two Bitcoin tickers

Before Bitcoin hit the mainstream, the only existing Bitcoin ticker was BTC (the logical shorthand that doesn’t raise any additional questions). As mentioned above, the BTC ticker was created by Bitcoin’s elusive creator Satoshi Nakamoto, so there was no need to come up with another variant — everyone perfectly understands what BTC is.         

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So, what is XBT? When the popularity of the flagship currency started skyrocketing (along with its price), there was a need for a currency code, but the problem was that the ‘BTC’ ticker name actually violated the ISO 4217 standard. According to these rules, the first two letters of the currency symbol are supposed to represent the country (case in point: USD where ‘US’ stands for the United States). When it comes to Bitcoin, there was an issue with Bhutan — the ngultrum (BTN), the country’s national currency, created roadblocks given that its very first letters coincide with that of Bitcoin.  

That eventually prompted the appearance of a brand-new Bitcoin code: XBT (it is still not considered to be the official ticker of Bitcoin). Apart from the vast majority of national currencies, ISO 4217 also provides codes for the so-called ‘super currencies’ that are not restricted to a certain currency and pose as a global medium of exchanging money. These currencies are also dubbed ‘X currencies’ due to the fact that they always begin with this very letter:

  • gold (XAU);

  • palladium (XPD);

  • platinum (XPT).

image

Why not XBC?

Given that Bitcoin is an international currency, it is now crystal clear why it starts with X, but the third letter of the new abbreviation might still seem rather confusing for uninitiated traders. XBC is by far the most obvious variant if you take into account the name of the currency (‘bit’ and ‘coin’). The answer is simple: there is already a currency with this ISO 4217 currency code that stands for a European Unit of Account.

The state of adoption  

Now that you know the origin of the ‘XBT’ ticker (if you knew about its existence in the first place), let’s compare it with BTC, the old-timer that has been associated with Bitcoin since its very inception in 2008. For instance, if you want to google the price of Bitcoin, BTC is your best bet (however, the XBT cryptocurrency will work just fine as well).  

There is no consensus between different cryptocurrency exchanges on what Bitcoin ticker should be universally accepted. For instance, Coinbase, a major San Francisco-based cryptocurrency exchange whose valuation has recently exceeded $8 bln, sticks to BTC. Meanwhile, Kraken, Coinbase’s biggest competitor in the fiat-to-crypto niche, was one of the first exchanges to give edge XBT edge over the more established abbreviation.

image
In a brief post, Kraken explains that establishing one common standard contradicts the idea of decentralization, which is why there is no officially accepted ticker. They claim that the Satoshi-proposed ticker enjoyed the widest use in the crypto space, but the new abbreviation is particularly important for cryptocurrency adoption since it places the fledgling asset class in gold as a global currency that is gradually gaining legitimacy.

Having a currency code in a centralized system may not seem like a big deal. However, it makes a world of difference when it comes to the Bitcoin adoption problem — the green light given by ICOs allows Bitcoin to enter the databases of major clearing networks (PayPal, SWIFT, etc.). Needless to say, the new ticker also boosted the recognition of Bitcoin on Wall Street (Bloomberg terminals were among the first to adopt the new XBT abbreviations).  

XBT subunits

After coming up with an alternative Bitcoin symbol, another top-level issue consists in determining subunits.

One XBT coin has eight subunits, but this is not the final division given that the number of decimals would have to increase over time. Still, only three subunits have managed to achieve mainstream adoption in the crypto space:

Subunit

Symbol

Value (of 1 BTC)

'millibit'

mBTC

1/1000

‘bit’

μBTC

1⁄1000000

‘satoshi’

satoshi

1⁄100000000

NB! Some exchanges have long been displaying BTC price in bits, leaving only two decimals on the right.

Things are getting even more complicated — prepare for more tickers

If you are dealing with huge economic sites such as the likes of Yahoo! Finance, you won’t likely see either of those abbreviations. They normally use the NYXBT ticker that represents the NYSE Bitcoin Index created by the New York Stock Exchange back in 2015.
image
It is worth mentioning that the index is not quite convenient for cryptocurrency traders since it updates only once a day (at 6 p.m. EST). Due to the volatile nature of cryptocurrencies, the exchanges (Coinbase and others) that update data in real time would be by far a better choice. The current prices are also displayed on U.Today (at the very top of the website).        

To make things even more confusing, there is one more ticker called $BCOIN that is specifically designed for the website StockTwits. Meanwhile, investors who trade Bitcoin on the stock market are certainly familiar with the Bitcoin Investment Trust ticker (GBTC). There is also yet another Bitcoin stock symbol, BITCF (it stands for First Bitcoin Capital Corp).    

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Same issues with Bitcoin’s stepbrother  

Remarkably enough, Bitcoin is not the only coin with multiple confusing tickers. Bitcoin Cash, the offspring of the world’s largest cryptocurrency, initially used the logical BCC symbol, but there was already the BitConnect token with the exact same symbol. Eventually, the BCH ticker symbol appeared, but some exchanges still stick to BCC.
image
Recently, it provoked a heated discussion on one of the biggest crypto-related subreddit, with users calling out Binance for failing to update the old symbol. Due to the big scope of the controversy, Binance CEO Changpeng Zhao himself had to comment on the situation, claiming that the change of the ticker would cause at least a two-hour long trading halt.

“We felt the tradeoff is not worth it. Thank you for your understanding.” – CZ, the CEO of Binance.  

Conclusion

One has to realize that both of these tickers are interchangeable, and both of them are here to stay. Hence, the BTC vs. XBT discussions are futile.

While BTC has already become a staple in Bitcoin’s community, XBT saw a wider adoption by traditional financial institutions along with some crypto exchanges such as the likes of Kraken

Wikicoin
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🎓 Trading Guide Andrew Strogoff

EOS Trading for Beginners: How to Trade EOS Profitable

Trading Guide
EOS trading, how to find best entry points, comparing EOS with Ethereum
EOS Trading for Beginners: How to Trade EOS Profitable
Contents

Trading cryptocurrencies is not as easy as it may seem. However, those who have appropriate knowledge are able to invest in cryptos profitably. In this EOS Trading Guide for Beginners we are going to provide you with necessary information about the project, coin and its specifics. We are also going to compare EOS with its closest competitor – Ethereum.

EOS is a blockchain platform for dApps. The idea behind this system is to provide users with best known practices allowing businesses and private persons to benefit from high level of security and computing support.

One of the main advantages of this platform is that it will allow users to conduct thousands transactions per second. This level of scalability is out of range for Bitcoin and even Ethereum nowadays. The aim of the team is to create a complete operating system for decentralized applications giving the opportunity to user to benefit from high level of security, server hosting and cloud storage.

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EOS trading. The main features of the project

Before an investor or trader puts his or her money into this coin, it is necessary to learn the main features of this system.

One of the main specifics of this network is its high security level. All users accounts have different permission levels. There were several updates of the system allowing users to store their data off the blockchain. There are also some features helping EOS clients to restore access to their compromised and recover stolen accounts.

Another great feature of EOS is its scalability performance. There is no doubt that future of cryptocurrencies as payment method depends not only on security of data transfer, but also on how fast the transaction may be executed. Bitcoin and Ethereum use PoW consensus method, which is criticized by the crypto community nowadays.

EOS uses another method, which focuses on transaction instead of the state of the whole system. This allow to significantly increase the speed of message exchange within the network up to one million per second.

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EOS team and coins

Before trading EOS or investing in this coin, one need to learn more information about the project’s team. The system is created by Block One company, led by Dan Larimer. This person is famous in crypto industry as he was founder of Bitshares and Steemit.

As for EOS coins they are listed on most of major trading places and have medium liquidity level as compared to other cryptos. EOS is on the fifth place in the list of market capitalization according to coinmarketcap in the moment of writing.

Comparing EOS and Ethereum

EOS vs Ethereum

Once you have decided to trade EOS or hodl it, you need to know the closest competitor of this project. EOS is designed to create dApps and smart contracts meaning its rival is Ethereum.

Despite all the similarities that EOS have with Ethereum, those projects are not the same and this information is important for traders and investors in order to understand whether to put money in EOS or not.

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Target audience

Many investors think that EOS and Ethereum are the same but they have different target audience. EOS adepts think that this platform will be more decentralized as it uses Proof of Stake consensus mechanism as compared to Ethereum, which works on Proof of Work.

EOS is supposed to be the host of different decentralized applications that would high costs if run on Ethereum platform. There is no transaction fee within the EOS network.

Technical differences

EOS team aims at overcome scalability, functionality and usability issues that Ethereum has currently. To do this, developers have implemented delegated Proof of Stake protocol, which helps to eliminate the bottleneck that Ethereum network has currently. Another reason to use it is the ability to freeze the network and to fix broken applications without affecting other accounts.

EOS has chosen this DPoS mechanism to add more democracy into their network meaning no party will be able to consolidate enough coins (PoS) or computing power (PoW) to control the whole network.

Additionally, EOS team expects the system to process 1,000 operations per second and to increase this number in future up to 100,000 transactions. However, Ethereum developers also work on scalability as they seek to introduce Casper technology, an update that will help the network to be more scalable.

As you may see, there are several differences between EOS and Ethereum and it is not clear whether the first is able to “beat” the second.

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EOS trading and general fundamental analysis

Besides all the above mentioned, when predicting EOS price for trading or investing you need to pay attention to the global fundamental factors that affect all crypto industry. Those are the following:

News and events

There are some news and events that may affect the whole industry. When a country bans exchanges or ICOs, for example, this fact will negatively affect the crypto market as traders and investors will get rid of their coins looking for safer investments.

In general, all negative news have the same impact on the industry and are likely to push EOS and other coins down. As for positive news and events, they will give support to the whole industry helping coins to grow.

Let’s list the most influencing news and events that you need to pay attention to:

  1. Bans of cryptocurrencies, exchanges, ICOs in different countries.

  2. Adoption of blockchain technology, cryptocurrencies, ICOs and exchanges by governments.

  3. New technologies within blockchain industry that lead to scalability, security and other improvements.

  4. Different meetings and conferences and other events that may influence the crypto industry.

Experts opinion

EOS trading may be affected by the experts’ opinion. If there are any comments from famous persons within the crypto community, they may influence EOS price in both short and long term. Those comments may have either positive or negative impact on EOS depending on their nature.

If experts criticize cryptocurrency, this fact is likely to have negative influence on the coin and vice versa, when experts support coins, they are likely to grow.

General market players’ moods

EOS price changes due to market participants’ activities. Bulls try to drive it higher while bears push it downwards generally. Major players may have significant impact on quotes especially for cryptos with low liquidity.

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EOS takes the fifth place on capitalization as we have mentioned above. This cryptocurrency is less liquid than Bitcoin or Ethereum meaning it is more volatile and may be seriously influenced by huge players.

Cryptocurrency market has some similar traits with traditional stock and currency industries and sometimes is driven by serious players. All you need to do in this case is to forecast EOS fluctuations and follow the whales.

Strong and weak points of EOS

Before you start trading EOS, you need to know strong and weak points of this cryptocurrency. We have gathered the most interesting advantages of the project. They are the following:

Strong and weak points of EOS

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As for weak points, they are the following:

  1. EOS team is lead be Dan Larimer. He is a famous expert of Blockchain technology. However, Larimer is also known for his habit to leave one project before it is completely launched. He left Bitshares and Steemit once he met serious issues.

  2. EOS competitors. Apart from Ethereum, there are other projects like Crown, RChain that are going to release their platforms in the nearest future.

How to trade EOS

Before we make the final stop in this guide, we would like to describe step-by-step how to trade EOS:

  1. The first step to do is to choose an exchange. EOS is rather popular and offered by many trading places including the most liquid ones.

  2. Make EOS forecasting. You can use both fundamental and technical method. Pay attention to Bitcoin price as the first crypto ever affect the whole industry nowadays.

  3. Find entry points. Use a strategy to look for the best chances to open positions.

  4. Determine the appropriate risk/reward ratio. Professional traders advise this proportion to be 1/3 at least. If you are going to invest, read the latest news on EOS in order to understand whether it looks promising in long term.

  5. Use different order types in order to diversify your trading and to find best EOS trading opportunities.

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Darryn Pollock

Two Bitcoin Addresses Named Enemies of the State — Good Regulatory Step for Crypto

A move by the US Government to sanction two BTC addresses is an interesting, but positive, precedent for the regulation of crypto
Two Bitcoin Addresses Named Enemies of the State — Good Regulatory Step for Crypto
Contents

While it may not sound like positive news, the fact that the U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctioned two Bitcoin addresses is a positive step for the regulation of crypto, as it shows the governments believe they have the tools to handle this situation.

It is an unprecedented move for cryptocurrency addresses to be added to this sanction list, which at one stage also listed Osama Bin Laden, but even in the unprecedented move, there has been no new legislation needed to make this happen.

What this means is that the US government believes it has the tools at its disposal to enforce the law over dodgy Bitcoin addresses and that it is ready to put its foot down and bring under scrutiny problematic Bitcoin addresses, such as those that could be funding terrorism.

Stepping in, and stepping up

The sanctioning of the BTC addresses was a move against against two Iran-based individuals, Ali Khorashadizadeh and Mohammad Ghorbaniyan. These two individuals helped exchange Bitcoin ransom payments into Iranian rial on behalf of Iranian malicious cyber actors involved with the SamSam ransomware scheme, which damaged over 200 known victims.

“The Treasury is targeting digital currency exchangers who have enabled Iranian cyber actors to profit from extorting digital ransom payments from their victims. As Iran becomes increasingly isolated and desperate for access to U.S. dollars, it is vital that virtual currency exchanges, peer-to-peer exchangers, and other providers of digital currency services harden their networks against these illicit schemes,” said Treasury Under Secretary for Terrorism and Financial Intelligence, Sigal Mandelker.

Regulation ready to tackle anonymous and transparent addresses

Cryptocurrency lawyer Marco Santori explains in a Twitter thread why this move from OFAC is a positive one on behalf of regulators and law enforcers trying to get cryptocurrencies under control.

His summation is that the “OFAC believes, today, that it has the tools it needs to enforce the law. It didn't ask for more legislation, nor did it didn't propose new prohibitions. The Treasury is fighting crypto bad guys using the tools already at its disposal,” Santori explains.

This is clearly an important standpoint for this department of US legal enforcement. If it was that the OFAC had to enact new laws in order to combat these dodgy Bitcoin addresses, it would not only be a slow process, but potentially a less effective one.

By making this move, OFAC has essentially opened its legal interpretation to include these digital asset addresses, and they feel that they can handle controlling how they operate despite their quasi-anonymous nature.

What can actually be done?

What does need to be asked, though, is what can the OFAC actually do about these addresses? As it stands currently, they have simply publicised two addresses, and as Santori predicts, will probably see random, anonymous individuals sending BTC to them as a joke.

And, based on the anonymous nature of cryptocurrency sending, it is very possible that anyone sending BTC to these sanctioned addresses will remain hidden, and more so, the lack of centralised control means that the addresses can probably still withdraw the BTC and turn it into useful funding.

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Darryn Pollock

PornHub’s Crypto Partnership Shows Evolution of Adult Entertainment Ecosystem

Verge and PornHub recently teamed up which is being seen as the start of a lucrative partnership between porn and cryptocurrency
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In April, Verge cryptocurrency finally announced who their mystery partnership would be with, and it was a big surprise when PornHub was unveiled. However, the growing partnership between porn and cryptocurrency seems to indicate that the adult viewing industry could make good use of anonymous digital currencies.

PornHub and Verge are not the only instance where adult entertainment can be bought with digital currency. PornHub allows for users of the site to spend Verge in order to buy the premium services, but there are other ways.

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Porn.com

With one of the most obvious names for an adult site, Porn.com also offers a similar situation as PornHub does, letting its members buy a premium service with cryptocurrencies. The platform has been accepting Bitcoin payment since 2014. Video subscribers may have access to unlimited video streaming from a huge DVD archive library with no advertisements.

Naughty America

Another popular porn site, Naughty America boasts operations in 47 porn sites and boasts more than 10,000 porn videos. It’s one of the early adopters of Bitcoin payment as it allowed its users to pay through cryptocurrency also in 2014.

Playboy Plus

Tied to one of the leaders in adult entertainment, the Playboy Plus service is one that allows users to become members of the Playboy site allowing access to various HD quality videos and photos. The site’s Bitcoin payment integration is done through BitPay services.

Live Cams

Besides from out-and-out pornography sites, live adult chat sites such as Chaturbate and Live Jasmine have also recently joined in accepting Bitcoin. Chaturbate started only last year whereas Livejasmin has been taking digital currencies since 2016.

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