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Bitcoin News - Market Fall Abates as Some Growth Noted Along With Sideways Movement

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The latest decline has halted for the moment as most of the cryptocurrency market shows green numbers and mostly flat movements
Market Fall Abates as Some Growth Noted Along With Sideways Movement

It is good news for the markets after two days of losses with most of the market showing small gains, or at least flat movement while coins take stock of the sudden drop seen on Sept. 5th.

The entire cryptocurrency market took a sudden dive a few days back which led to a continued fall, but that fall seems to have slowed for the moment as the cryptocurrency market looks to fight back. The fall saw about $1,000 be wiped of Bitcoin as the rest of the market followed.

Most of the top 10 coins are showing growth of between one and four percent, although the general trend is a flat movement with the bottom of the drop being found.

Bitcoin settles

The Bitcoin price was, before the sudden collapse, heading towards $7,500, however, it dropped as low as $6,200 before rebounding slightly and now has climbed to just over $6,500.

The fall of Bitcoin was blamed on Goldman Sachs decision to delay its cryptocurrency trading desk, although this catalyst seems flimsy at best and has been denied by those at Goldman.

While Bitcoin is showing small growth or better described as a settling sideways movement, there are some coins in the top 10 that are showing upward growth of around four percent- such as EOS, Stellar and RIpple.

Nano, rated 30th by CoinMarketCap is showing gains of 10 percent, with Ontology, at 25 on the market cap, up 11.

Dump time for Bitcoin forks

Before the sudden fall in the markets, there was news of both Bitcoin Dark, and Bitcoin Diamond showing massive gains with the former tripling in value. However, those coins are now suffering from not only a correction but also the negative sentiment in the market as they remain in the red. Bitcoin Diamond is down 16 percent and Dark by 10 percent as a lot of their quickly-gotten gains fall away.

What next?

Time will only tell if this is a brief pause in a bigger fall for the cryptocurrency markets, however, with no real catalyst or reason for the fall in terms of negative news, it does not seem likely that it should continue in this manner.

The markets are in search of some sort of positive news, and that is what a lot of commentators are waiting for, to help the cryptocurrency space get back to its high-earning ways.

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Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

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Coinbase claims that this addition is an important step towards creating the leading cryptocurrency wallet on the market
Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

Coinbase Wallet now allows its users to directly store Litecoin (LTC) in the app. Thus, the fifth biggest asset by market capitalization joins Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Ethereum Classic (ETH) on the list of supported cryptocurrencies.
Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

The rollout is coming in a few weeks

The blog post states that Coinbase Wallet users will be able to download an update with Litecoin support in a few weeks on the App Store or Google Play Store respectively. Litecoin support will be available from the get-go once the app is updated. You will simply have to choose the ‘Receive’ option on the main wallet page in order to deposit LTC to your wallet.

Coinbase keeps snubbing XRP

The announcement was flooded with tweets from users asking Coinbase to add XRP. Everyone’s favorite remittance and settlement token is nowhere to be found on the roster of supported digital coins.

However, XRP was added to Coinbase Custody in November 2018, so one shouldn’t exclude the possibility that the crypto behemoth will eventually fully embrace this asset.  

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New Leaked Video Shows That Samsung Galaxy S10’s Blockchain Wallet Might Support Bitcoin (BTC) and Ethereum (ETH)

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Samsung has yet to officially confirm what specific cryptocurrencies Galaxy S10’s Blockchain wallet will support
New Leaked Video Shows That Samsung Galaxy S10’s Blockchain Wallet Might Support Bitcoin (BTC) and Ethereum (ETH)

Samsung didn’t say much about Galaxy S10’s Blockchain feature during the much-anticipated presentation. However, a new leaked video provides more insights into what cryptocurrency enthusiasts can expect from the top-of-the-line smartphone.

Very few details are available  

As U.Today reported earlier, Samsung was supposed to integrate a cryptocurrency wallet into its new flagship product Galaxy S10 (Blockchain Keystore was among three possible trade marks). Instead, the South Korean mobile giant debuted a functioin for private key storage that could be used for Blockchain-based mobile services. Hence, the prevsiosly leaked photos that allegedly depicted Galaxy S10 with a native crypto wallet that suppports BTC and ETH are most likely fake.

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Samsung Enters DLT Sphere but Denies Rumors of Crypto Wallet Launch on Galaxy S10
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The company didn’t confirm or deny what specific currencies the new flagship smartphone will support. They dedicated only one sentence to the whole topic during the Galaxy UNPACKED event that took place on Feb. 20.

Very few details are available

Blockchain tutorials for propelling the adoption  

The new leaked video with Blockchain tutorials has recenlty appeared online. While the legitimacy of this video can could be called into question, it vividly shows that the smartphone’s Blockchain wallet will indeed support two major currencies — BTC and ETH. We will get to know whether it’s true or not once the phone appears in stores on March 8.  

Blockchain tutorials for propelling the adoption  

 

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CME BTC Futures Breaking Their Previous Records as 2019 Begins

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In its internal email, CME Group announces that this year their BTC futures are beating all previous sales records even before the start
CME BTC Futures Breaking Their Previous Records as 2019 Begins

 

CME Group, the Chicago-located exchange, has recorded a splash of interest from investors who are buying BTC derivatives at the start of 2019.

Good start of the year for CME

The company’s internal e-mail says that on February 19, the company made a new record by selling 18,338 futures contracts on BTC. That is equal to nearly 91,700 BTC or $360 mln.

In November 2018, the record set by the exchange was a little smaller, says the email:

“Q1 2019 is off to a strong start, ADV has improved to 4,630 contracts (23,150 equivalent bitcoin), up ~13% from Q4 2018 while [open interest] rose to 4,076 contracts, an improvement of 21.5% over Q4 2018.”

As for the customers, since the moment the exchange started working, it has had more than 2,000 accounts for trading BTC futures, belonging to 30 unique institutional clients. By the way, this category of clients has become more interested in the product.

Since November last year, CME has gotten over 40 new clients of this scale. They are also dubbed LOIHs (Large Open Interest Holders), that is, an institution that owns 25 futures on Bitcoin.

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The BTC derivatives market

The BTC derivatives market is much wider than just CME. Since the time it first launched this product, other players have entered the business too. Among them are major exchanges, like OKEx, BitMEX, etc – these are the biggest players on the market at the moment.

Now this market includes not only futures but also crypto options and swaps, and the amount of players in the market keeps increasing.

Other crypto trading heavyweights intend to release their crypto derivatives exchanges in the US in 2019. Among them are Bakkt, SeedCX, and ErisX.

Bakkt plans to offer BTC derivatives, and SeedCX as well as ErisX will offer futures on several coins. Among those will probably be Bitcoin and Ethereum.

Binance reportedly is also considering a move to the crypto derivatives market.

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“Faketoshi” Tool by Albacore Labs Enables Anyone to Play Satoshi Nakamoto

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Due to the numerous self-proclaiming Satoshi Nakamotos appearing recently, a financial startup created an app that lets anyone become the real Bitcoin inventor
“Faketoshi” Tool by Albacore Labs Enables Anyone to Play Satoshi Nakamoto

From now on, anyone with some basic programming skills can issue proof that he is the genuine Bitcoin creator – startup Albacore Labs has made an app tool which lets one validate a signature by the genesis block, the first ever block mined on the Bitcoin chain.

“Faketoshi” Tool by Albacore Labs Enables Anyone to Play Satoshi Nakamoto

Oh yes, I'm the great pretender (ooh ooh)

Numerous Satoshi Nakamoto pretenders have emerged and disappeared over the last few years. The most prominent of them is perhaps Craig Wright, the public figure leading Bitcoin SV (Satoshi Vision) after the hard fork of Bitcoin Cash in November last year.

The other day, Mr. Wright brought up definitive evidence of him being the real Satoshi when he offered to swear an oath to the US Commodity Futures Trading Commission. This generous offer was taken by the community skeptically.

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Faketoshi line production

Recently, the team of the Albacore startup, which works in the business of improving financial transparency, has launched an app that allows anyone to link a message to the BTC genesis block. This way anyone who desires so can ‘prove’ they are the Satoshi Nakamoto.

The reps of the firm have publicly commented on their new product, saying that with the growing number of people trying to prove they are the Bitcoin maker, they have decided to help them with that.

“With everyone seemingly trying to prove they are Satoshi (looking at you Craig Wright and “Faketoshi twitter”), we’ve decided to make it easier for other people to make similar claims.”

This story goes back to 2016 when reporter Andrew O’Hagan spent several months together with Craig Wright, watching him tie a message to Satoshi Nakamoto’s address.

Now, using the new app, it is possible to create a signature and a message hash that will be validated against the address that created the BTC genesis block.

Faketoshi line production

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Facebook CEO Mulls Adding Blockchain to Store Customer Data, Warning Against Cons of Decentralization

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The head of the social media giant says he may introduce blockchain-powered storage for personal customer data
Facebook CEO Mulls Adding Blockchain to Store Customer Data, Warning Against Cons of Decentralization

On February 20, Facebook’s CEO visited a class of Harvard professor Jonathan Zittrain and spoke in front of his students. Among other things he spoke of was the possible implementation of DLT-based authorization of customer data.

Will Facebook integrate decentralization?

The discussion of the Facebook CEO and the professor revolved around the ways society and technology may develop in the future. In the course of the conversation, the company founder mentioned that Facebook may take part in the global trend of supporting decentralization.

He said that he and other people of his age were attracted to technologies, since they can give power and are not greatly decentralizing.

The CEO said he is eyeing introducing blockchain systems which would enable users to control their own data, letting them keep it on DLT systems and then to log into web services, avoiding services of middleman firms.

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Negative sides per Zuckerberg

The head of Facebook reckons that apart from positive sides, the open ledger technology has its technical difficulties which are possible to tackle, but there are moral cons too.

Facebook’s CEO assumes that there are ethical issues to the matter of blockchain. In his opinion, implementation of DLT systems can cause more abuse than there is now and that to solve those negative issues would be more of a hassle than those on conventional centralized systems.

Privacy vs. security

Zuckerberg pointed out that his company may start encrypting the personal messages of its users. He admitted how important it is for people to keep their messages private and secure.

He also said that the company must think about the safety of people in general – the Facebook team intends to do their best to prevent acts of terrorism, children abuse or recruiting, etc.

Facebook forays into DLT

Earlier in February, U.Today reported that Facebook had bought blockchain platform Chainspace, allegedly as part of their DLT integration.

Chainspace works to solve the scalability issues of blockchains though sharding and smart contracts.

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