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scryptoxic

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  1. According to TRUSTNODES, the price fluctuations of Ethereum in the past year have found that the price trend of Ethereum is significantly positively correlated with the activity on the chain. Most of the time, it follows Metcalfe's law (the network value is squared by the number of users). The speed is growing, but this has changed recently. For example, in April, the Ethereum price was around $400-500, the price has fallen to around $200 at this moment. However, the Ethereum network’s daily trading volume has decreased slightly in contrast to the price, this number has been stable at around 600,000 transactions, and basically no less than 500,000. In other words, although the price of Ethereum has been falling for several months, the use of the Ethereum network has remained stable. (except for the abnormal situation of short-term network peak congestion in July, check the Ethereum price history, the falling started since the Ethereum network experienced the congestion on July). Another indicator that shows situation Ethereum has at this moment is the DAA (daily active address). Despite on the slight decline in recent, the number of DAA remained stable mostly between 300,000 and 400,000, whereas the price trended to completely different direction. (As the Ethereum market trend figure shows, the Ethereum price curve was always higher than the DAA before mid-July. After the time, the number of DAA has been significantly higher than the price curve) Logically, the high correlation between price and activity is easier to understand as when more people use Ethereum, the more demand for Ethereum. However, market sentiment has changed a bit recently. The net inflow data of various transactions over the time. Since September 6, the number of Ethereum coins inflows to exchanges has exceeded 93,000. September 8 was the only negative net inflow(to exchange) volume which was only 6,400 more outflows than the inflow. (Unlike Ethereum, Bitcoin price is much less likely affected by market sentiment eventually it dominates and leads over rest of cryptocurrencies) And this phenomenon may also coincide with the reason why the Ethereum price falls during this time - there are more Ethereums flowing into exchanges rather than wallets or other addresses, but the amount of outflow is little indicating that Ethereum undergoes the pressure of abandoning. This explains that Ethereum's price volatility is not positively correlated with its network activity during this time. An abnormal, excessive bearish sentiment puts the entire Ethereum community undergoing a highly pressured state. It may also indicate that the current bearishness is irrational, as Ethereum has fallen by 90% from the highest peak over time. Perhaps this is a good moment to buy in Ethereum. All data for market analysis was obtained from Citicoins.com
  2. On September 13, French Finance Minister Bruno Le Maire said on Twitter that the parliament decided to legalize ICO eligible status. The companies raising ICO have to submit application to the French committee, which only grant projects providing specific guarantees to investors, according to ICO Examiner News. The new policy is part of reforms promoted by the French President Emmanuel Macron through Parliament. As a part of his campaign, Macron is committed to conduct a PACTE (the Action Plan for Business Growth and Transformation) to create “business friendly” political environment for France economy. An innovation teams grouped by various political parties within the European Parliament met last Tuesday to review the issues existing within ICO principles that will reform a part of crowd-funding framework. The proposal was edited by Ashley Fox, a member of the European Parliament. A part of proposal states to limit a cap up to €8 million for anti-money laundering. If the European Parliament approves the proposal, it sets standards for token sales allowing the project party to raise ICO funds and conduct business within any of the 28 member states. ICO (Initial Coin Offering) in other words, is the IPO of blockchain, generally refers to the blockchain-based startup project on ICO platforms to issue the cryptocurrency (corresponding to IPO stocks), investors to make ICO tokens purchase using Bitcoin and cryptocurrency (such as Ethereum, Litecoin, etc) to achieve fundraising. The tokens held by the investor represents the shares of the projects. Once the project landed, the value of these tokens as a trading medium and equity becomes increasing and transferable. Then the investors monetarily liquidate the tokens on stablecoins supported exchanges (mostly with Tether coin which is the largest, most liquidated stablecoin among the time). ICO combines the advantages of IPOs and VC, and seems to be more convenient in terms of regulation and circulation, such as high efficiency (often completed within a day, some eventually within a few minutes), good liquidity (easier to transfer tokens), less private information required and lower entry requirements that have made ICO a hot financing pattern. (thanks to the cryptocurrency foundation community that make plenty of ICOs founded. Especially in Ethereum community has more than 496 identified tokens based on ERC20 tokens). As more and more companies has started to load ICO to attract more interest from individuals and investors, meanwhile governments and regulators starts to pay attention. For regulators and governments, those investments are often recognized as dangerous fraud primarily viewed with suspicion. These ICOs are audited mainly by governments around the world, but they yet followed any precedent. In fact, disagreements between countries over the entire cryptocurrency space have taken a different approach to managing it. (After Bitcoin Cash succeeding, more than 44 hard forks were founded in Bitcoin Community, claimed to be better than Bitcoin. Nevertheless, more than 30 forks were recognized as scams). In general, European countries permitted the existence of ICO. Among them, except Russia in a more restricted environment, other countries, including Great Britain, France, and Germany hold different opinions and have set up special departments to investigate the pros and cons in relevance with cryptocurrency, or to strengthen supervision. On early August, the Stuttgart Stock Exchange in Germany, announced that it planed to develop an ICO platform that would permit token issuance through standardized and transparent processes. In a global perspective, Asia are the strictest to cryptocurrency, including China and South Korea that explicitly banned ICO (since Bitcoin price rapidly trended up on November to January). The South Korean government has established ICO ban in September last year. In fact, the voice for legalization of ICO in Korea has never been silent. On December 6 2017, a senior officials of the Korea Financial Services Commission revealed that FSC plans to introduce regulatory on bitcoin and other cryptocurrencies and may revised the ban. On March 2017, the Korea Times mentioned financial regulators were discussing with the Korean tax authorities, the Ministry of Justice and other relevant government departments to reintroduce ICO under certain specific conditions. The reason why the Korean government is uncertain about the ICO is that it hopes the legalization of ICO can bring up a rapid development of blockchain technology. On the other hand, the government seems want to retain retain the huge value of blockchain business. On August 2018, the Chinese biggest social media WeChat has suspended 8 major cryptocurrency-related accounts for calls of government. WeChat and Alipay also started to ban transactions related to cryptocurrency. On August 23 and 29, Beijing and Guangzhou announced to ban any cryptocurrency promotion. Blockchain technology has a great future and becomes a trend of civilization development. As a type of financing patterns, ICO has innovation and risk coexisted and constant influence to the future. Only establishing regulation, however can reintroduce a long-term development. In order to usher in long-term sustainable normative development. In recent, the Bank of China Insurance Supervision and Management Committee published a research paper on its official website, officially defined ICO and stated that cryptocurrency-related activities is eligible to operate under a supervision. It is a good news the Chinese government about to explore the future development of cryptocurrency and blockchain as when China once had largest liquidity over time. Although there are many bypassed regulation and they have tasted a small piece of candy, but undergoing the lack of supervision is precisely the main reason why cryptocurrency glitched into an embarrassing situation as when it is yet accepted widely. However, with more regulations introduced, it is believed that cryptocurrency will become greater. Data for market analyzing collectively obtained from citicoins.com
  3. In less than a year after Bitcoin first introduced its futures contract, Ethereum will become the second cryptocurrency traded on regulated futures exchanges. The Chicago Board Options Exchange (CBOE) launched Bitcoin futures in December 2017, and waiting for Commodity Futures Trading Commission (CFTC) to permit Ethereum futures in the end of 2018. Bitcoin and Ethereum are a more liquid and encrypted cryptocurrency. On June, the US Securities and Exchange Commission (SEC) officially announced that Ethereum is not categorize to securities, which seems to pave the pathway for the Ethereum futures. CBOE has been considering this issue since the first bitcoin futures launched. They have discussed this in detail with the Commodity Futures Trading Commission. At the time, CBOE President Chris welcomed the SEC’s decision. He said that since the end of 2017, it has been a hot topic since to launch Ethereum futures contracts and they are very pleased that the SEC has cleared a critical obstacle for it. The market indeed has a dense demand for Ethereum futures. After Bitcoin futures successfully launched, CBOE plans to adopt the same designation and structure to apply on any other forthcoming cryptocurrency futures such as Litecoin. Thus what happens if launching Ethereum futures? Although the details of CBOE Ethereum futures have yet to be revealed, the price has already been impacted (Ethereum market appears a rapid growth in all exchanges). Ethereum price rebounded from a small decline on August 31, which can be attributed to these initial reports. The price of Bitcoin also showed a similar pattern of volatility, with a strong rise on the same day. It is not easy to predict the trend of any market, especially for cryptocurrency. However, big moves like major financial institutions seem able to affect the marketplace. The co-founder of Fundstrat, Thomas Lee has said that Ethereum futures will have a negative impact on the price of cryptocurrencies. While, a well-known senior market analyst Mati Greenspan recently believes that the market of Ethereum futures is going to be optimistic as when Wall Street attempts to bridge with the cryptocurrency market, and he said that to launch Ethereum futures was the next significant step. Although some people believed on social media that excessive short selling would damage the value of Ethereum (since Ethereum value is typically interactive with Bitcoin), Greenspan debates that short-selling is a key component of cryptocurrency price and helps the market development. In addition, he believes that the Ethereum futures will brings investors’ attention to cryptocurrency market, which is likely to attract new investors with great financial wealth, thus creating a chain effect on the entire marketplace. Greenspan is very optimistic about Ethereum futures trading, whereas some people have put forward cautions on this. For example, in the past year, the Bitcoin futures market clearly has two modes - manipulation and large market operation. Some investors have made considerable interests, while some have lost. This phenomenon is very similar to the foreign currency exchange market 30 years ago. Both long and short positions that could easily influence the direction of the market. The fear of Ethereum futures is reasonable. The market capitalization of Ethereum is much smaller than Bitcoin (Bitcoin market is nearly 500% larger than Ethereum). Ethereum futures may fall below $150 or even $100. Meanwhile, 95% of IC0s are raised with ERC-20 tokens. What if an IC0 raises 20 million US dollars and have Ethereum on hold? Possibly the funds becomes halved, eventually result a sudden collapse of other tokens and issuers based on Ethereum network, latterly a chain of devastating effects. Although Bitcoin has firstly disclosed the gate to the market of cryptocurrency futures. However, that is difficult to learn the lesson and to conduct a conclusion in less than a year. Soon after the Chicago Board of Trade Exchange (CBOE) and the Chicago Mercantile Exchange (CME) respectively launched futures products, Bitcoin reached the highest peak over than $20,000 (check as you can see the highest peak of Bitcoin price within period Dec 2017 to Jan 2018). According to the published data, the average daily trading volume of Bitcoin futures has increased by 93% in the first quarter of 2018, and continuously been growing in the middle of 2018. Undoubtedly the demand of cryptocurrency futures is raising. In the next a few months, the launch of Ethereum futures will be noticed around world. But again, predicting the price of a cryptocurrency is blindness. All data used for cryptocurrency market & feature analysis obtained from Citicoins.com
  4. Yes, but blockchain will face a big challenge from those internet giants - they don't want blockchain affect their interests.
  5. In recent, Chinese council has stated that OKEx chairman Xu Mingxing might be charged for illegal business. OKEx is an exchange located outside of the country but operated and managed in China. According to Article 7 of the Chinese Criminal Law, restriction shall apply to the crimes committed by Chinese citizens outside of the country, so it also constitutes a crime. OKex is an exchange concentrating on futures trading, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, EOS (ref-links: according to OKex early statement that the last three cryptocurrencies mentioned ahead are more representative among other major cryptocurrencies based on the features, market cap and users). There are more discussions. The administrator of the OKEx website and exchange might be suspected of white collar crimes by Chinese policies, the crimes involved may be: 1. Fund-raising fraud; The crime must be constituted by illegal possession. If only third party involved in this case and not directly occupied the investor’s property, then the charge cannot be established. 2. Inducing investors to trade futures contracts; by analyzing from the composition of crimes, requiring criminals to be special subjects, i.e. securities, futures exchanges, securities companies, futures brokerage companies or securities industry associations, the staff of the industry association or the securities and futures management department, may establish this crime. The subject of this case does not meet the conditions mentioned above, so this crime cannot be established. 3. Manipulating securities and futures markets; the statutory rights and interests infringe the order of securities and futures markets. Since cryptocurrency is not recognized in China policy as neither of them, it can be seemed as a commodity with investment attributes. Investing in the commodity through the platform involved does not infringe the order of the domestic securities and futures markets, so this crime cannot be established. 4. Illegal business; violation to the national regulations, conducts illegal business activities, disrupts market order. On September 4, 2017, the People’s Bank of China, the Central Network Information Office, the Ministry of Industry and Information Technology, the State Administration for Industry and Commerce, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the China Insurance Regulatory Commission jointly issued the “Announcement on Preventing the Risk of Cryptocurrency Financing”, clearly banned the Bitcoin and cryptocurrency trading. The ICO for financing, the subject involved in the illegal operation of such activities through overseas exchanges, coincides with the requirements of the crime. In summary, the government are more likely to file a case for investigation on “illegal business” However, in the course of investigation, whether new evidence and facts will be discovered, resulting in changes and additions to the case.
  6. Ethereum experienced a big fall. Many think that will be the doomsday, including Nouriel Roubini “Dr. Doom”, said the value of Ethereum fell unexpectedly. Because, as a cryptocurrency and decentralized application platform, it has insufficient active decentralized applications (dApps). Nouriel Roubini believe the downtrend of Ethereum price (chart indicates the price falls 300% since July) isn’t much mythic because 75% dApps are CryptoKitties-like dApps, scams and gambling. The rest of 25% are useless decentralized exchanges. Meanwhile, 99% transactions were completed on decentralized exchanges, whereas 99% cryptocurrencies have lost 99% values. However, it’s a “evolution” that Ethereum has to experience. Cryptocurrency as a new form of assets and Ethereum protocol as a decentralized network, are still in their infancy (The major Ethereum network can only handle 10 to 12 transactions per second, so the services and accesses that dApps offered are limited). Vitalik Buterin, the co-founder of Ethereum, has said that Sharding and Plasma in layer-two solutions may increase the trading capacity to one million times a second. This will be able to support the Internet of Things(IoT) and financial networks. The improvements to the protocol are being at exponential growth. At present, some simple dApps, such as CryptoKitties, dominates the industry, and the decentralized exchanges cannot compete with the centralized exchanges. However, decentralized ecosystems and smart contracts based on public blockchain (many of major cryptocurrencies are public blockchain, such as Cardano and EOS as the profile described) have been established for less than three years. Nevertheless, the dApp Brave Browser (award publishers BAT tokens based on traffics) already own more than 3 million users. Improvements to Ethereum's basic protocol have made ETH run as a value storage, just like bitcoin value (Bitcoin has a lot forks what also determine the value of Bitcoin, especially Bitcoin cash). The Roubini's prediction was made relying on an assumption that the development of dApps will cease due to low user adoption rate. However, a survey shows that half of the US Millennials are interested in using cryptocurrencies, whereas the Millennials' trust on ordinary financial systems is noticeably declining. Moreover, the Line and Kakao talk have founded their own cryptocurrency exchanges to commercialize blockchain and dApps. All data used for cryptocurrency market & feature analysis obtained from Citicoins.com.
  7. In recent, the New York Financial Services Department (NYDFS) approved two stablecoins based on Ethereum network(functionality based on Ethereum) , Gemini Dollar issued by Gemini and Paxos Standard by Paxos. Each token with a support of $1 has been designed to provide the stability of legit currency, as well as the transaction speed and cross-board feature of cryptocurrencies. Regarding to the impact on the world economy after legalizing Tether USDT(the largest stablecoin so far and the Tether price always sticks up for the value of $1 USD), many analysts thought that the problem of to digitize US dollar was unsolvable, and nothing could stop the pace of the digital dollar. As soon as yesterday, the New York Financial Services Department approved two stablecoins at the same time. Undoubtedly, cryptocurrency has taken a big step toward compliance. These brave private companies played as headquarters bringing the dollar behind to the world by operating the stablecoins. So far the stablecoins are not as big as the legit, eventually used as mediums intending finally for the legit in whole transaction progress. The stablecoins, however could have made the national barrier no longer exist. These also might help to avoid the depreciation of the local currency in Venezuela, for example. In present, investors have to cash out the USDT through Tether exchange(around 200 exchanges have USDT supported and that’s the only way to convert other cryptocurrencies into stablecoins), and only to US dollar though, it is never complicated to bridge other legit currencies. Moreover, if to adopt USDT, the legit currency lending under influenced by any other outside factors, will be replaced by the lender based on USDT and, or other USD backed cryptocurrencies. That is, the entire financial system re-establishes based on USDT instead of re-foundation on legit currency.
  8. The US Department of Justice allegedly sued a North Korean hacker Park Jin Hyok, on September 2018 for numerous cybercrimes in recent years, many of which were hacking operations that shocked the world, including Sony hack and NotPetya cyber attack (The ransomware) last year, $80 million stolen from the Central Bank of Bangladesh and invasion into the Sade system in South Korea. According to the US indictment,Park Jin Hyok is a staff member of the North Korean Investigation Bureau and has been engaged in cyber attacks and fund fraud for many years. He claimed to be a representative of North Korean hackers who have been hiding in the world internet for years. According to the VOA report, the prosecutor confirmed that he was a member of the hacking team known as the Lazarus Group, which was accused of computer intrusion and cyber fraud in North Korea, the United States and many other countries. The US government’s allegations against Park Jin Hyok’s 179 pages detailed his hacking from 2014 to 2018 and will impose sanctions on him and his company, Chosun Expo Joint Venture. The US Treasury Department even called this company a money bag for his overseas intelligence. The U.S. Treasury’s indictment against Park Jin-ho also showed that the organization launched a global cyberattack called WannaCry 2.0 in 2017 using ransomware. On May 17, 2017, a monitoring website noticed that the Bitcoin history data in North Korea suddenly increased rapidly from reportedly “0” to hundreds of times a day. What was certain is that North Korea launched a large-scale mining operation against Bitcoin market. Interestingly on May 12, 5 days before the North Korean initially to mine Bitcoin, WannaCry has broken out. So far, the invasion spreads across nearly 100 countries and regions. The virus will lock private data file on computers and each PC is asked for Bitcoin priced (price was cheap back to the mid of 2017, now imagine how much they could earn in the beginning of 2018) in equivalence of $300 USD to unlock the files. According to various information disclosed by the media, North Korea has formed a perfect chain and protection mechanism around bitcoin stealing and extortion. It is reported that North Korea’s hacking force has reached 7,000 in 2017. North Korean government not only to mine cryptocurrency, but also to adopt hack techniques for Bitcoin hacking and money laundering. While our eyes are on N.K.’s nuclear weapons, they have quietly set up plans on Bitcoin, eventually.
  9. There are many speculations about the reasons of this crash. For example, the manipulation of great whale and, or other interest groups. By analyzing the recent news, we can see the timeline of some events are certainly in relevance to, and coincide with the timeline of major changes in marketplace, such as: On September 5, Bloomberg reported that Goldman Sachs planned to deploy a Bitcoin exchange (Later on September 7th, Goldman Sachs CFO declaimed the truth of the news). Also the global cryptocurrency fraud incidents, manipulations of altcoins and the forecasts by experts and celebrities. In fact, early messages are only declassified to large holders(great whales) for pulling and slapping the market trend before the individual investors receiving the late news after the marketplace has undergone manipulation. In 2017, 209 ICO projects raised a total of $3.695 billion according to Citicoins.com, in contrast to 686 ICO projects increasingly raising a total of $17.849 billion (500%) by August 2018. From the data, the amount of funds has indeed achieved a great growth. However, many of those ICOs and projects are worthless, with fraudulent and money-making scam. The scam project parties will eventually quit the market after archiving funding goal, and seriously damage the cryptocurrency ecosystem. Major issues plaguing the cryptocurrency market are fraud and ICO scams. Of course, there are still some righteous projects that really want to voice out, but they have to overcome the difficulties to prove the values of their tokens through technological explanation and orientation. If ICO continuously to follow the current trajectory, the bubble will burst to extinction and the industry will experience a wide reshuffle. Regardless, most cryptocurrencies comes from the feasibility of the ultimate goals and practical application. As the earliest cryptocurrency, Bitcoin value has been proven through integrity, fairness (white papers and open source), effectiveness, and the adoption rate. Although Ethereum market performs not so well so far, it is still one of the most successful challengers to Bitcoin. The Ethereum project stimulates the development of the idea of “blockchain-as-service” and provides a platform for constructing new effective tokens - powered by “Ether”. There are also emerging competitors, such as Litecoin (LTC), which provides many key functional applications associated to Bitcoin and intends to become substitution for Bitcoin. Litecoin officials stated that Litecoin markets had the practical value for legit currency trading and will be driven by its specs of high speed and low cost transaction. Securities(finance) tokens also emerged in cryptocurrency and has been reportedly played an important role in the market crash triggered on January 2018. These digital securities contracts were sold on December last year and expired on January 2018, and coincided rhythmically with the switching between the bull market and the bear market. In the past year, there has been a lot of news about securities(finance) tokens, and the government is working with independent project agencies to try to regulate or otherwise prevent risks and fraud to protect financial security issues. Cryptocurrency is a new industry. Innovation always comes with chaos - lack of supervision, and market manipulation. In the environment without regulation, the issues cannot be certainly changed for a while, and they can only wait to prove and improve the value of the industry.
  10. Under the encouragement of instant wealth, many people have claimed blockchain entrepreneurship. The internet enterprises are also to adopt blockchain technology to expand business coverage. What is the blockchain more concerned about? Where will blockchain trend to? What is the blockchain more concerned about? The early blockchain projects such as Bitcoin, Ethereum and Litecoin not eventually worry the rise or fall of the prices. However, efforts to improve the underlying technology and community have never been relaxed. For instance, the original idea of Bitcoin is to construct a large community supported globally. Later the ETH founder Vitalik Buterin has traveled to China to coordinate with mine owners to widen the supports of miners and improvement to ETH community; not to mention that the EOS token designed to deploy super nodes worldwide in order to enlarge the communities... Although all communities composite with different social roles and they are transformable to each other, they densely demand for large-scale community support to land coins and tokens. “In financial thesis, a commodity or service is valuated by consumers whom concern it values in a certain units of assets, so does the cryptocurrency.” said Citicoins. If none of us concern Bitcoin value, for example, we “would ever not get wind of cryptocurrency” eventually. Meanwhile technique is definitely the most basic background. Whether it is performed as distributed storage, smart contracts, or future blockchains development, it is inseparable from technical supplies. Where will blockchain trend to? In the first quarter of 2018, news medias continuously exposed various deceitful blockchain scams. While governments gradually enforce regulatory, bear market was accelerated. At the same time, some experts and scholars proposed to reform coins and blockains. However, some insiders are not much optimistic about “coin or chain reform” as to believe “reform” is the concept and routine that scams are best at. The concept of blockchain is a civic idea and began to spread globally by the influence of monetary effects. Some insiders believe that a few well-known cryptocurrencies such as Ethereum and EOS market foot on the experimental phase as there is still far to reach up hundreds-of-millions user bases. Also none of newly deployed cryptocurrency orientates as a succeeded sample. Nowadays, many internet giants motivates blockchain applicability in use rather than trade such as IBM, Amazon, Apple and Microsoft. In comparison with the ordinary blockchain project, the internet giants have greater advantages in terms of resources, user base, and technique that are relatively powerful. They therefore, are able deploy projects soon after implementing. The concept of decentralization will undoubtedly be realized gradually. However, the issues of Bitcoin, Ethereum, EOS and many other cryptocurrencies have provided the internet giant with good examples. What thoughts do you have in your mind? Please kindly comment your thoughts.
  11. Under the encouragement of instant wealth, many people have claimed blockchain entrepreneurship. The internet enterprises are also to adopt blockchain technology to expand business coverage. What is the blockchain more concerned about? Where will blockchain trend to? What is the blockchain more concerned about? The early blockchain projects such as Bitcoin, Ethereum and Litecoin not eventually worry the rise or fall of the prices. However, efforts to improve the underlying technology and community have never been relaxed. For instance, the original idea of Bitcoin is to construct a large community supported globally. Later the ETH founder Vitalik Buterin has traveled to China to coordinate with mine owners to widen the supports of miners and improvement to ETH community; not to mention that the EOS token designed to deploy super nodes worldwide in order to enlarge the communities... Although all communities composite with different social roles and they are transformable to each other, they densely demand for large-scale community support to land coins and tokens. “In financial thesis, a commodity or service is valuated by consumers whom concern it values in a certain units of assets, so does the cryptocurrency.” said Citicoins. If none of us concern Bitcoin value, for example, we “would ever not get wind of cryptocurrency” eventually. Meanwhile technique is definitely the most basic background. Whether it is performed as distributed storage, smart contracts, or future blockchains development, it is inseparable from technical supplies. Where will blockchain trend to? In the first quarter of 2018, news medias continuously exposed various deceitful blockchain scams. While governments gradually enforce regulatory, bear market was accelerated. At the same time, some experts and scholars proposed to reform coins and blockains. However, some insiders are not much optimistic about “coin or chain reform” as to believe “reform” is the concept and routine that scams are best at. The concept of blockchain is a civic idea and began to spread globally by the influence of monetary effects. Some insiders believe that a few well-known cryptocurrencies such as Ethereum and EOS market foot on the experimental phase as there is still far to reach up hundreds-of-millions user bases. Also none of newly deployed cryptocurrency orientates as a succeeded sample. Nowadays, many internet giants motivates blockchain applicability in use rather than trade such as IBM, Amazon, Apple and Microsoft. In comparison with the ordinary blockchain project, the internet giants have greater advantages in terms of resources, user base, and technique that are relatively powerful. They therefore, are able deploy projects soon after implementing. The concept of decentralization will undoubtedly be realized gradually. However, the issues of Bitcoin, Ethereum, EOS and many other cryptocurrencies have provided the internet giant with good examples. What thoughts do you have in your mind? Please kindly comment your thoughts.
  12. So true. And it can track various commodity's sources for safety issues as well, such as food.
  13. Who murder the market? When the Bitcoin price was huge last year. The most embarrassing thing was the miners as they have nearly zero cost on their cryptocurrencies. Basically, there is no doubt that miners trended down the bull market, and that is what the operating parties (are, or collaborated with miners) did. The one of the reasons why Ethereum price is undergo weakness this year is that the project party largely trade Ethereum in, and to legit currency, Tether coin and Bitcoin on Ethereum exchange. The person who murdered Bitcoin market are mostly the miner due to the need of legit currency for mining rigs and electricity charges. However, after the bear market came up, the situation has been changed a bit. The entire digital assets market has fallen by 70% of the market capitalization. Tons of altcoins have lost liquidity. Bitcoin is a well-deserved leader in the market, and its impact on the market is significant and it concentrates most of the market’s liquidity. The influence extents of the cryptocurrency companies and miners collectively on the marketplace has swapped. The miners have now become the most influential matters on the marketplace. Many cryptocurrency companies have already cashed out thru Tether exchange, or project abandoned after liquidity completely lost. While, the miners will continuously mine but collectively have strong demand for the legit currency. After the market is no longer profitable, they turn to the futures market and to short the market. The more profits collectively the miners want, the more they load up invalid futures contracts in the futures market. Then the futures market transferred to the spot market. The slump in the spot market has caused stronger stress to miners on the futures market. That turns out a fierce negative cycle. So when will this negative cycle be lifted? The answer is that the miners are no longer to load invalid contracts to lock the mining revenue. In other words, they no longer mine, that is. I hope that day will come soon.
  14. The anonymous, Satoshi Nakamoto had brought up Bitcoin on 2009 after the financial crisis. The idea of Bitcoin says to seek an pathway bypass finance collapses. Around the end of 2017, Bitcoin price all of a sudden becomes the “BIG” confronting an extreme price $19,000. Later after falling to $10,000 below, Bitcoin has been trended to an questionable affair latterly from public community to national commission — what valuates cryptocurrency? Truly, the authority seems yet to prepare to approve the value. None of countries so far supports cryptocurrency as in endorsement. In recent, U.S. Securities And Exchange Commission (SEC) delayed the Bitcoin ETF submitted. “The U.S. financial watchdog has yet to approve a cryptocurrency-based ETF,” including Bitcoin Cash and Ethereum trading fund, “and in the release Thursday highlights issues with security, market manipulation and investor protection issues.” said CNBC market reporter, Kate Rooney. But cryptocurrency eventually goes further. By the middle of this year, the president of Russia Vladimir Putin has conducted to legalize cryptocurrency trading before 2019 in his annual plan. Meanwhile, Venezuela officials has launched cryptocurrency valuated to the national owned petrol, and Turkey is very possible to find a way out from economic issues by deploying cryptocurrency trading. Despite on the political matters, world-leading financial institutions struggled in a typical yes-or-no decision referred to the Bitcoin cryptocurrency valuation, especially. Some local banks however, initially declare to support cryptocurrency as they can benefit considerable advantages in future. The plans for gigantic banks are more about to facilitate international transaction progress by adopting blockchain technology. If to adopt blockchain technology, all banks are able to save at least “$27 billion annually”, say 11% costs reduction on “cross-border settlement transactions before the end of 2030”, according to a recent analysis by Jupiter Research. In financial thesis, a commodity or service is valuated by consumers whom concern it values in a certain units of assets, so does the cryptocurrency. But nowadays cryptocurrency is put into a doubtful value. Cryptocurrency exchanges lead to valuate the Bitcoin to legit currency whereas this goes to a sort-of opposite position against cryptocurrency actual value, operating nearly the same pattern as stocks, later the Ethereum value and so on. The main difference is that in stock markets, investors own a part of company, whereas in cryptocurrency, Bitcoin market doesn’t. The cryptocurrency price therefore is not affected by the business of the company but majorly by the currency manipulation, according to the SEC statement. In fact, the marketplace is under operated by unidentified great whales. They can be any of the possibilities, government, Wall Street or Statoshi — the answer is no longer significant. Through the exchange manipulation, price thus often turns out at a brainlessly high position. Politicians and bankers intend to hand on the cryptocurrency marketplace. In a perspective of political interference, it willfully replace the legit if the economic competition continuously holds in next a few years. During the research, I find the several countries to adopt cryptocurrency have encountered U.S. sanctions evolving economic issues in common. The major banks get to handle the restriction struggled with political power. Before the regulatory interference rolls in, the banks are more likely to set up blockchain on transfer system for savings and to simplify cross-border transaction progress, at the same time to avoid political force. The cryptocurrency economy is solid when confronts market regulations. It turns elastic as undergoing unsteady price quake impacts. In the discovery, the value of cryptocurrency is found to evolve in a wide hundred-billion bubble. The financial word “bubble” overruns in community, while unnecessarily indicates the meaning of catastrophic in my opinion. It becomes one of the largest beneficial investment choices loading on investors’ capitals by catching the lead of the bubble economy, at least. If, moreover, the bubble were not set up, we would ever not get wind of cryptocurrency.

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