EU and US Crypto Regulations Show a Stark Contrast

EU and US Crypto Regulations Show a Stark Contrast

Facebook's decision to enter into the realm of financial services spurred lawmakers around the world into action, necessitating a discussion of EU and US crypto regulations, which are very different from each other.

                              

Following the announcement by social media giant Facebook

that it plans to launch its own cryptocurrency by 2020, U.S. President Donald Trump felt compelled to voice his feelings regarding Bitcoin and cryptocurrencies.

In a recent tweet, the president said he is "not a fan of Bitcoin" and that its value is "based on thin air". Continuing, he stated that if big tech companies like Facebook wish to launch cryptocurrencies they must first follow proper regulations to "become a bank." Initially, the cryptocurrency market was not negatively affected by the news but further comments from U.S. Federal Reserve Chairman Jerome Powell resulted in a 10 percent loss on the markets. The comments and ensuing furor within the cryptocurrency community highlight the stark differences between cryptocurrency regulations in the European Union and the United States.

Different methods of interpreting the law

The main difference stems from the legislation that is already in place in the two markets. The EU's relatively new and far more complex system requires a decision process that encompasses several sovereign nation-states, whereas the U.S. benefits from pre-ordained legislation going back centuries that clearly defines the process between state and federal decision making.

Due to the U.S. operating on a 'common law' system, cases are dealt with independently and often rely heavily on a final ruling from a single judge. For this reason, many small crypto-related projects have received penalties from the U.S. Securities and Exchange Commission (SEC) over the years for not properly following regulatory measures. In the EU, no such fines have been imposed as the process of developing a regulatory framework must be established first – and that could take years. In the meantime, rather than simply issue fines, the EU is providing constructive advice to banks and financial institutions on how best to

deal with cryptocurrencies.

“The European Commission and European parliament have set up the EU blockchain observatory and Forum to map the blockchain initiatives going on in Europe and to gather inputs for the European Commission on regulatory issues like smart contracts, ICOs, and secondary markets", said Peteris Zilgalvis, head of startups and innovation at the European Commission, in an interview with Forbes magazine last year.

EU Regulations Viewed More Favorably

Alex Alexandrov is the CEO of Coinpayments, one of the largest and most diverse crypto payment platforms available today, and founder of the Velas AI-enhanced blockchain network. He believes the EU provides a better regulatory environment

for cryptocurrencies.

“EU, in my opinion, is farther ahead in crypto laws and has created a much better environment for banking and regulations. USA tends to focus more on punishment vs guidelines, while the EU is working toward allowing businesses to feel they are wanted and working with new industries in a much clearer way," he says.

Most recently, the EU nation of France has begun to improve its regulatory environment with the approval of several crypto-related projects by its financial watchdog the Financial Markets Authority. “We are in talks with three or four candidates for initial coin offerings”, said FMA executive director of legal affairs Anne Marechal, speaking to Reuters. “We will have a legal, tax and regulatory framework.” The move aligns it more closely with other crypto-positive European nations like Switzerland and Malta, both of which have been key in helping to promoting blockchain technology in the EU. These benefits prompted Alexandrov to base his new blockchain venture, Velas, in the Swiss canton of Zug –

often referred to as 'Crypto Valley'.

"This is one of the reasons why my newest venture Velas or Virtual Expanding Learning Autonomous System, is based in Zug, Switzerland," he said, although he admits that the U.S. does lead the sector in technological development. “USA still harbors tremendous talent and is generally on the cutting edge when it comes to innovation in the tech space.”

Conclusion

While a positive attitude towards growing and developing the industry is necessary, proper regulations are also required in order to ensure the safety of customers. Currently, blockchain companies can operate largely without restriction in the EU and elsewhere, often putting consumers at significant financial risk. Facebook's decision to launch a cryptocurrency attracted understandable concern due to the company’s prior bad record in securing customer data. With a user base of its size, systemic failures could result in drastic knock-on effects for the global economy. As the crypto space grows and develops, government agencies need to work alongside blockchain firms in order to establish a safe working environment for all.

Article Produced By
Aubrey Hansen

Aubrey is a Freelance cryptocurrency & blockchain Journalist as she says:

I'm a freelance journalist from Denmark, spending my time traveling between Denmark and the UK. For years writing has been my passion, and since 2015 I've been interested in the crypto and blockchain space. Over the past few years I've contributed opinions on the markets, the future of the industry and analysis to publications such as:

The Australian National Review, Irish Tech News, Crowdfund Insider, Banking Technology, Blockchain News, Cryptocurrency News, CryptoDaily

I'm always open to hearing from the innovators who are behind the next up & coming company looking to disrupt their respective industry, so feel free to drop me a line and let me know what you're up to!

https://cryptovest.com/features/eu-and-us-crypto-regulations-show-a-stark-contrast/

Justin Sun Rubbishes Claims by Media House That TRON is Involved in Illegal Fundraising

Justin Sun Rubbishes Claims by Media House That TRON is Involved in Illegal Fundraising

TRON and its founder, Justin Sun, have landed in fresh controversy

after a business media outlet based out of China accused the latter of illegally raising funds why the crypto project. Accusations have come just a few hours after Tron Foundation announced the postponement of the much-awaited high profile lunch with billionaire investor Warren Buffett which was scheduled on 25th July, after a Sun had to be admitted in an emergency for kidney stones.

The business media house has accused that Sun carried out illegal gambling services for Chinese residents using TRON and also alleged that he was currently in China itself. The media also accused that Sun’s previous creation Peiwo, a social media app reminiscent of Snapchat, was engaged in the pornography business.

Sun wasted no time in rubbishing the claim and took to Weibo, the Chinese microblogging website, to respond. He stated that the claims of illegal fundraising via gambling on TRON are false, as the network retired the gambling dapps in China on September 20, 2017, soon after the regulatory bodies in the country issued stricter regulations for online gambling. Regarding the accusations against Peiwo App, he stated that it was based on the decentralized Wave protocol, which is open to all.

He further added,

The Wave foundation acts as the initiator of the agreement and resolutely opposes the use of the Internet open-source agreement to engage in illegal activities. At the same time, it also calls on application developers to comply with the laws and regulations of various countries.

However, Sun did not decline the claim that he was in mainland China and did not even address it. If he is indeed in China, the fact that he responded so quickly, despite being in “kidney stone pain,” will definitely raise some eyebrows, though.

Article Produced By
Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

https://www.cryptonewsz.com/justin-sun-rubbishes-claims-by-media-house-that-tron-is-involved-in-illegal-fundraising/32886/

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Low Effort Bitcoin Cash Ponzi Alert: BitcoinCashTradingLimited

Low Effort Bitcoin Cash Ponzi Alert: BitcoinCashTradingLimited

It has become increasingly easy to spot cryptocurrency-related websites

which are a front for a scam. In the case of BitcoinCashTradingLimited, it is not hard to see what is going on exactly. Anyone investing in this company will lose their money, as there are far too many red flags to ignore. 

It’s a Fake Company

Even though BitcoinCashTradingLimited has been a registered domain name since July of 2018, it seems the domain will expire in just a few days from today. Even so, no one has seemingly heard of this platform in the past twelve months, primarily because most people can spot a scam from miles away when details are so blatant. There is also no registered entity associated with this website, nor a company registration number of any kind.

Targeting Bitcoin Cash Users

While one has to give credit to these scammers for targeting Bitcoin Cash supporters instead of focusing on just Bitcoin, it seems unlikely that this decision will help matters much. Bitcoin Cash does not have the biggest community, and most of its members are all too familiar with cryptocurrency scams. As such, it seems unlikely anyone has lost money because of this website, but one can never be too cautious. 

Fictitious Investment Plans

It is rather evident most of the HYIP Ponzi Schemes in the cryptocurrency industry follow a very straight forward approach. BitcoinCashTradingLimited is no different, as its projected returns are simply impossible to sustain. Ranging from 5% after one day to 100% profit after 30 days, no one should even remotely consider this offering to be genuine. Even the 2% daily for 12 days plan is impossible to guarantee, as cryptocurrency markets never allowed for guaranteed returns. More importantly, the company does not explain how the money is expected to be generated. While it is obvious they will only pay out as long as new deposits keep coming in, it is safe to assume the funds will dry up sooner rather than later. Their claims of “constant progression” and “friendly support” don’t mean much when they are planning to take one’s money sooner rather than later.

Lots of Confusing Information

Despite the website focusing on Bitcoin Cash, their main page makes multiple mentions of how to invest with Litecoin, which is also a  supported currency. Users will also allegedly earn 1% daily for the lifetime of their account, even though the investment plans state something else entirely. It seems little work has been put into updating this template to suit the site owners’ needs, for some unknown reason. To make matters worse, the site name – BitcoinCashTradingLimited – is used alongside Traders.com, and TradersLimited.com. As such, no one knows for sure who is pulling the strings until the domain name expires. Its acceptance of Perfect Money, Payeer, and Ethereum – despite using the Ethereum Classic logo – only add more confusion. This is clearly an unprofessional website which should not be trusted with one’s finances.

Article Produced By
JP Buntinx

https://themerkle.com/low-effort-bitcoin-cash-ponzi-alert-bitcoincashtradinglimited/

The Differences Between Trading Forex and Trading Cryptocurrency

The Differences Between Trading Forex and Trading Cryptocurrency

                                

Trading forex and trading cryptocurrency isn’t en either/or option.

Many traders like to do both simultaneously or switch back and forth as market conditions make one or the other more conducive to the kind of trading they enjoy. At the same time, there are those who would argue that the differences between cryptocurrencies and those traded on the foreign exchange markets are so great that you might as well compare trading in gold and buying and selling stocks and shares in tech companies.

The simple truth of the matter, however, is that forex and crypto trading are frequently conflated in the minds of traders, particularly those who don’t have as much experience of the markets. Success in one may lead a trader to dabble in the other, and any misunderstanding of the differences (as well as the similarities) between the two could lead to a disastrous trading strategy. The fact that both markets offer options such as leverage, CFDs, short term trading opportunities, longer term investment plans and arbitrage means that there is a good deal of overlap between the two, but they each offer opportunities and challenges which are completely unique.

Forex and Crypto

The most obvious difference between the two is that foreign currencies have been exchanged since as long ago as the 19th century, when the broad adoption of the gold standard set a yardstick against which the strength and weakness of a currency could be measured.  In the early days of forex trades of this kind involved physical currency, but since the late 20th and early 21st century the forex market place has been fully digital in nature, something which played a huge part in opening it up to a global army of retail investors. 

The biggest leap forward in the exchange of currencies following the creation of the digital market place came in 2009, with the launch of bitcoin, the first of the cryptocurrencies. A cryptocurrency is a form of digital money. It facilitates extremely fast, seamless transactions between parties, with no third party being involved. Because of this, the control stays completely in the hands of the person using the cryptocurrency, and they maintain complete privacy. It also means that there is no central bank, provider or government able to assert (or try to assert) control over the value of the cryptocurrency, something which makes them prone to more volatility than traditional currencies.  

This volatility is one of the clearest differences between trading forex and crypto, since it makes trading crypto more appealing in some ways but riskier in others. A huge single day shift in the value of bitcoin, for example, could earn a trader a massive amount of profit, or it could wipe out everything they have invested. The shifts in traditional currencies, on the other hand, tend to be smaller, which is why higher leverage plays such an important part in forex trading. Many of the differences between the two can be traced back to the huge disparity in the size of the respective market places. Put simply, the forex market is the biggest in the world, handling an average of more than $5 trillion in trades every single day.   The cryptocurrency market, on the other hand, is predicted to reach an overall full market value of $1.40 billion by 2024. What the size of the forex market means is that it offers a degree of liquidity, depth and security which is pretty much unmatched anywhere else.

Accessibility

Both markets can be accessed via a wide range of platforms, and any trader is strongly advised to carry out in-depth research into the platform they wish to use before actually investing any of their money. Once the right platform has been chosen, however, access is extremely quick and simple and cryptocurrency is actually slightly more accessible than forex. Forex can be accessed 24 hours a day, 5 days a week, with access limited or non-existent on the weekends. Crypto exchanges, on the other hand, can be accessed on a round the clock basis.  

Leverage

Leverage is a means via which the trader can multiply the amount they invest in a currency by, in effect, borrowing capital from the broker. A leverage of 50:1, for example, means that a trader can invest £50 and, on the strength of that investment, take up positions worth £2,500. This greatly increases the size of the profit that can be made, although it has a similar effect on the risk of any losses. Leverage as high as 500:1 can be available for forex trades, whereas the same is not true of the vast majority of cryptocurrency trades. Following the introduction of new rules by ESMA (the European Securities Markets Authority), the maximum leverage which can be offered on cryptocurrency CFDs, for example, is now 2:1 throughout Europe, with national regulators taking it in turns to follow suit.  

Risk

The risk factor inherent in both forms of trading is linked directly to the volatility of the respective markets. The fact that cryptocurrencies aren’t linked to a central provider makes them more volatile than traditional currencies. On one day in 2019, for example, the value of bitcoin slumped by 13.25%, and this was only the second biggest drop of the year. You simply don’t see this kind of dramatic movement in the forex markets. Having said that, the liquidity of the forex markets makes it easier to quickly get your hands on any profit you may have made, without the issue of having to decide whether to turn a crypto currency into a standard currency, and waiting for that to be facilitated.

Complexity

New digital currencies are constantly being launched to compete with the existing big names like bitcoin and Ethereum. Predicting which will be successful, and therefore worth trading in, is incredibly difficult, and makes any investment a long term and potentially stressful process. Forex markets, on the other hand, are based around stable and established currencies, and the art of predicting how these currencies will shift can be based on a combination of historical precedent and an analysis of the current economic and geo-political situation. Choosing whether to trade in cryptocurrencies or forex will depend upon the amount of capital you wish to invest, your appetite for risk and the type of strategy you wish to pursue. For many investors, the answer is to split their activity between the two, spreading the risk and doubling the opportunities for success.   

Article Produced By
Torsten Hartmann

Torsten has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

https://captainaltcoin.com/the-differences-between-trading-forex-and-trading-cryptocurrency/

Privacy Cryptocurrency Zcash Prepares for Friendly’ Fork

Privacy Cryptocurrency Zcash Prepares for ‘Friendly’ Fork

                             

The privacy-oriented cryptocurrency Zcash will spawn a new blockchain network called Ycash

 

In about five hours, the privacy-oriented cryptocurrency Zcash will spawn a new blockchain network called Ycash. It’ll be the first of its kind to boast a near-identical codebase to the Zcash blockchain but function as a separate network and de facto competitor. First announced in April, the effort is spearheaded by long-time Zcash supporter Howard Loo. Loo described in a Zcash forum post that Ycash was a preemptive move to resist future community decisions that may extend Zcash’s system of developer funding known as the “Founder’s Reward” beyond a promised 10 percent cap of total token supply.

“We are also launching Ycash to uphold a promise – that the Zcash Founders Reward would be forever capped at 2.1 million coins – that we fear will come under increasing pressure between now and the expiration of the Founders Reward in October 2020,” Loo wrote in the forum post. Since then, prominent leaders in the Zcash community such as founder of the coin Zooko Wilcox have publicly expressed their support of Loo’s initiative, agreeing to disagree on certain network changes to the Founder’s Reward and others that will make Ycash backwards-incompatible to Zcash. Normally, network splits of this nature actually add value to a user’s cryptocurrency holdings. This is because users are able to redeem the exact same amount of coins minted on one blockchain on the new blockchain, free of cost.

“From a speculator’s standpoint, network splits often present an intriguing investment opportunity,” said former CoinDesk markets analyst and current crypto trader Sam Ouimet. “New money often buys up the cryptocurrency being forked in order to secure his/her claims of the new coins.” Of course, the value of these newly issued coins, called YECs, on the Ycash network may be significantly lower than ZECs on the Zcash network. However, if past blockchain forks that have spawned spin-off cryptocurrencies are any indicator, coin prices shortly after a hard fork tend to take a hit and then rebound.

Take bitcoin cash for example. The world’s most popular cryptocurrency, bitcoin, forked on Aug. 1, 2017. In just four months time, the resulting cryptocurrency network dubbed bitcoin cash hit an all-time market capitalization of $69 billion with one BCH trading at roughly $4,000. The markets have since cooled considerably but the spin-off network is still ranked among the top five most highly valued blockchain networks in the world. This despite having undergone its own network split in November of last year and a presumed 51 percent attack in May. As such, for users of the near $700 million blockchain network that is Zcash, the creation of Ycash at roughly 3:00 UTC on Friday, July 19 may mark the beginning of a new source of investment returns.

But in order for users to properly take advantage of their new YEC holdings, they must ensure they’re in control of their own private keys and wallet addresses. Alternatively, they can also ensure that the exchange on which they are holding their ZEC tokens offers support for the Zcash/Ycash network split. Crypto exchanges including Binance, OKex, Coinbase and Huobi have yet to affirm support for the impending launch of Ycash. A spokesperson for Binance told CoinDesk the team would be evaluating “community feedback” surrounding the coin to determine a possible future listing.

What it means for ZEC holders

If you are a holder of ZEC, Loo tells CoinDesk one of the best ways to secure access to newly generated YEC coins is by downloading the ZEC wallet. “In order to access Ycash coins, you need to have your Zcash coins at the time of the fork in a wallet that allows you to export your private keys,” explained Loo. “One possible way to claim your coins is to download your ZEC wallet and make sure your coins are in the ZEC wallet at the time of the fork.” Some cryptocurrency exchanges have publicly announced they will be managing private keys of users to support the network split and ensure equivalent holdings of YEC once the spin-off cryptocurrency in created. These exchanges include but are not limited to SafeTrade, BigONE, Hoo and Citex.

However, for all Zcash users who have left their coins on unsupported exchange platforms, Loo says that downloading ZEC wallets not only secures a user’s holdings of YEC but actually creates “ancillary benefits” to the original Zcash network. “A ZEC wallet is a Zcash full node so now all of a sudden all of these people who were Zcash users who weren’t running full nodes are now running full nodes because they’re interested in getting their Ycash,” said Loo. Even so, Zcash Foundation Executive Director Josh Cincinnati says that management of private keys can be a risky endeavor.

Cincinnati told CoinDesk:

“It’s possible you may wind up manipulating your private key on a computer that’s connected to the internet that might have some exploit on it. That’s a tail risk. It’s unlikely something would happen but anytime where you change someone’s security model that way it’s a risk to users.”

As such, Cincinnati says that no matter the “friendly” intentions, there are always risks associated with chain “splits, forks, or anything of the sort” that users should be aware of.

What it means for everyone else

Now, for everyone else who neither holds ZEC or intends to hold YEC, the upcoming blockchain split will simply mark the creation of a new privacy-focused cryptocurrency project. Ycash at launch will differ from the Zcash blockchain in three key ways. First, Ycash will implement a tweaked version of the Equihash mining algorithm currently used on the Zcash network. This is meant to prohibit specialized mining hardware known as ASICs from mining on the newly created Ycash network.

However, in time, ASICs can be adapted to take advantage of the tweaked algorithm which is why Loo says the long-term goal for Ycash is to eventually get rid of Equihash entirely. ProgPoW and RandomX are two commodity hardware mining algorithms that the Ycash developer team is researching. Second, Ycash will implement a reduction to the Founder’s Reward rate, which awards 20 percent of block rewards to a development fund on the Zcash blockchain. On Ycash, this percentage will drop to a perpetual 5 percent and be entirely funneled to one non-profit organization led by Loo called the Ycash Foundation. This reduction to the Founder’s Reward is a key part of why Loo started the Ycash initiative.

Loo told CoinDesk:

“I started to see the writing on the wall that there was going to be some subset of the community that favors not honoring the original promise that 90 percent of the money supply be allocated to users via the free-market mining process and that key organizations of the Zcash ecosystem, including the Electric Coin Company, were likely to take that route as well.”

As such, Loo called Ycash a “preemptive move” to preserve the original promise of capping the Founder’s Reward rate to just 10 percent of all newly issued coins on the network via block rewards. The third and final difference will be a cosmetic change to the address formats of Zcash and Ycash addresses. In order to “make it impossible” to accidentally send Zcash to a Ycash address or vice versa, Loo explains that all shielded addresses (these are private addresses on a Zcash-based network) will begin with a “y” instead of a “z”. “With these bitcoin forks, there was always this concern after the fork of accidentally sending bitcoin to a bitcoin cash address,” said Loo. “To honor the spirit of a friendly fork, we put in engineering effort to change the address format … so it’s impossible to send Zcash to a Ycash address.”

What’s next

For all the preparation that has gone into this self-funded initiative to create a “Zcash-based chain that can be mined on commodity hardware and that honors the original allocation promise,” Loo gives credit for the underpinnings of the idea to the founders of the Zcash, Zooko and Nathan Wilcox. Their early writings on a pluralistic and multi-coin future, Loo argues, not only coined the term for “friendly forks” but laid the groundwork in making Ycash a reality.

Loo said:

“It’s a credit to them both philosophically and technically because of the technical groundwork they laid. This fork I hope will be safer for users than [other blockchain] forks in the past.”

Since the original unveiling of the Ycash initiative back in April, Loo and his team of developers have completed three different dry runs of the split on the Zcash test network and one privately on the Zcash main network. “Because I’m a long-term holder of Zcash, I have a vested interest in the health of the Zcash network,” said Howard. “We put a lot of engineering time in making sure the fork goes smoothly.”

Where to watch

For users who want to watch the fork in real-time, cryptocurrency markets site CoinGecko features a public countdown clock and coin price tracking chart. In addition, crypto exchange SafeTrade and blockchain analytics site BitFly are also supporting a Ycash blockchain explorer where users can track block confirmations in real-time. SafeTrade CEO Jeffrey Galloway said the main thing to watch for will be chain stability and security. “We’re looking at the stability of both chains at launch and any unusual activity,” said Galloway. “There’s a number of things you can look for. For instance, a high number of confirmations. Having a high number of transaction confirmations [is important] before you accept trades.”

A network statistic Ouimet uses to gauge network security and stability is hashrate. Hashrate is a measure of computing power being contributed by miners on a blockchain network to validate transactions and create new blocks. “I’d keep an eye on the network hashrates for both ZEC and YEC to see how much computing power leaves the original chain and transfers to the new one,” Ouimet said. The lower the hashrate is on a network, the easier a potential attacker can overtake a blockchain and meddle with transaction activity. For these reasons, SafeTrade’s Galloway says larger cryptocurrency exchanges will likely choose to begin listing Ycash as a cryptocurrency after it is clear that both the Zcash and Ycash networks are stable with high transaction confirmation counts and hashrate.

Said Galloway:

“If there are bugs in the code, they will be exploited shortly after launch. If there are bugs in the wallet, you’re going to see them exploited shortly after launch. So those are all reasons why exchanges sometimes wait a few days after launch before they list a coin.”

Article Produced By
Christine Kim

Christine Kim is a News Reporter for CoinDesk.

https://www.coindesk.com/privacy-coin-zcash-will-soon-undergo-its-first-friendly-fork-meet-ycash

 

Tips to Maximize Returns from Cryptocurrency Investments

Tips to Maximize Returns from Cryptocurrency Investments

Check out a number of things you can do to mitigate the risks and increase your profits from cryptocurrency investments     

  Are you looking to get started in the crypto investment space?

Then, you’re at the right place. Investment in cryptocurrencies is generally not recommended for conservative investors because the market is too volatile and risk involved is relatively higher than other markets.

Investment Strategy

Almost every investment professional or trader you would ask will advise you to build an investment strategy with a diversified portfolio. While portfolio diversification works in almost all types of investments, it is particularly profiting in the crypto market because of the high risk involved. This is the secret we are going to talk about today.

How to Diversify Your Crypto Investment Portfolio?

10% to 30% – Top (trending) Coins

Invest a quarter of your funds in the top coins such as Bitcoin, Ethereum, XRP, Litecoin, etc. You can find the complete list here. These are market shifter currencies whose price change very frequently. So, limit your investment in these coins to not more than 30%.

40-50% – Popular Altcoins

Altcoins are the currencies that are created as an alternative to bitcoin. Some of the popular ones include NEO, Titan coin (TTN), etc. Experts strongly believe that altcoins are most likely to outperform bitcoin and other established coins. This is because they have a strong foundation along with great growth potential, profit structure, utility mechanism, etc. There are many other similar altcoins with great potential. The risk with these coins is minimal while the return potential is high in the long term. So, most of your investment should go here.

ICOs and New Coins

There are roughly 50+ new cryptocurrencies launched every month. You can invest a part of your funds in these new currencies or ICOs. Again, rather than investing all the amount in a single coin or ICO, you should spread it across multiple projects to substantially increase the possibility of high returns.

Day Trading

Day trading is usually recommended for those who are looking for high returns in the short term. The catch is that you invest in a cryptocurrency and then sell it as soon as the price goes high. Cryptocurrencies that are highly volatile are perfect for this kind of trading. If you are going to day trade, make sure not to invest more than 10-15% of your entire portfolio, because the risk is very high in this market.

Other Tips to Maximize Your Crypto Investment Returns

  • Keep updating your portfolio on a frequent basis, usually in a month or so.
  • Invest in projects that can produce returns in the short to medium term.
  • If you trust an altcoin, don’t hesitate to hold your funds for a longer period.
  • Focus on big winnings.
  • Take profits wherever you can.

The ultimate strategy for crypto investments is to be wise in the project selection. The crypto market is still very uncertain, and there are far more bad projects than the good ones. Analyze a coin (project) thoroughly before you invest in it.

Article Produced By
Amit Gupta

Gupta is the CEO and founder at SAG IPL, an India-based technology firm providing a range of service/software solutions in the web development, design, app development, and SEO industries.

https://www.coinspeaker.com/cryptocurrency-investment-return/

Nouriel Roubini Opens Fire on Cryptocurrency Exchange BitMex and Arthur Hayes

Nouriel Roubini Opens Fire on Cryptocurrency Exchange BitMex and Arthur Hayes
                            

After a scathing attack on Arthur Hayes at the Asia Blockchain Summit,

Roubini has once again hit out at BitMex in a blog post that covers his opinion on the cryptocurrency market, as reported by Bloomberg. Arthur Hayes was unfazed by Roubini’s personal attacks and even gave it back to him with the same ferocity, much to the crypto community’s delight, June 17, 2019.

Crypto’s Biggest Bear

Nouriel Roubini is a well-known economist, but a lot of his recent fame can be accrued to his outspoken views on the cryptocurrency market. As someone who grew up and lived in the traditional financial system, Nouriel believes it is the best way to get things done efficiently with minimum damage caused to the minnows.

In his latest blog post, Nouriel once again launches a searing attack on cryptocurrencies for their lack of regulation and adherence to know-your-customer (KYC) and anti-money laundering (AML). In reality, most exchanges require customers to undergo KYC and exchanges like Coinbase go as far as checking a user’s address history to look for illegal activity. While speaking about how cryptocurrency regularly operates outside of government oversight, he takes a particular disdain for BitMex by saying they are involved in systematic illegality and known fraud.

His view is that by giving retail investors a platform to trade 100x leverage with no KYC and just an email ID, Arthur Hayes and BitMex are knowingly deteriorating the wealth of retail investors. He further accused them of trading against their customers and making large chunks of their revenue during times of mass liquidation. Hayes hit back at these claims in Taipei by saying that BitMex doesn’t counter trade clients and doesn’t make money on liquidations other than fees. To be fair, every Forex broker counter trades their client so Roubini’s argument is null from the get-go.

Speculation Versus Use Cases

A lot of the hate for cryptocurrencies from legacy finance players comes from the fact that they are mostly used as speculative assets. The ability to pay for goods and services with bitcoin is limited, but the parabolic price gains manage to keep investors locked in while drawing in new ones. HODL over spending has also been criticized as speculation over actual use case, but most Bitcoiners beg to differ. They consider HODL-ing a hedge to the failures of traditional finance and a means of storing value that cannot be confiscated from a government.

Article Produced By
Ashwath Balakrishnan

Ashwath is a financial market and technology junkie. He is a cryptocurrency investor, trader, and enthusiast. He has expertise in market psychology and explaining complex technology in a simple way. He aims to battle misinformation in the cryptocurrency space.

https://btcmanager.com/roubini-cryptocurrency-exchange-bitmex-arthur-hayes/?q=/roubini-cryptocurrency-exchange-bitmex-arthur-hayes/&q=/roubini-cryptocurrency-exchange-bitmex-arthur-hayes/&utm_source=onesignal&utm_medium=push&utm_campaign=push%notification

Security News this Week: Palantir Manual Shows How Law Enforcement Tracks Families

Security News this Week: Palantir Manual Shows How Law Enforcement Tracks Families

                                

On Zoom conference calls across the US this week,

brows furrowed as the news broke that the video conference company had a flaw in its backend that could give hackers access to people’s webcams. Worse, Zoom seemed at first unwilling to fix the problem. Thankfully, hours after the initial reports, Zoom backtracked and issued a fix to solve underlying vulnerability. You can go back to Zooming your brilliant brainstorms in peace, everyone.

According to a new report this week, a Magecart hacking group has been breaking into misconfigured Amazon Web Services buckets, scanning the contents of 17,000 domains, and stealing any goodies—like credit card numbers used on some ecommerce sites. In other Amazon news, are you ready for Amazon Prime Day on Monday? Phishing scammers sure are. In the last few weeks scammers have pushed a whole phishing toolkit targeting Amazon customers. Beware.

Also this week, we explained how to keep your kids’ data safe online and took a closer look at the scourge of credential dumping. We also reported that the window to rein in the risks of facial recognition is closing, so something needs to be done fast. Oh, and we brought you the story of teens taking to TikTok to make fun of the surveillance app that's ruining their summers. But that’s not all. Every Saturday we round up the security and privacy stories that we didn’t break or report on in depth but which we think you should know about nonetheless. Click on the headlines to read them, and stay safe out there.

Secret Palantir User Manual Sheds Light on How ICE and Law Enforcement Track Families

Few Silicon Valley companies are more secretive than surveillance software provider Palantir, cofounded by Peter Thiel. Exactly what the company does, how it makes so much much money, and what it’s working on next is often shrouded in mystery. What is known is that Palantir’s surveillance software has become a backbone of US law enforcement, particularly Immigration and Customs Enforcement, which since 2014 has reportedly had contracts ranging from $41 million to $51 million per year with Palantir for access to the company’s tracking database and management software. Now, through a Freedom of Information Act request,

Vice has gotten its hands on one of Palantir’s secret user manuals for law enforcement. The manual shows that with just the name of a person, law enforcement can use Palantir’s software to map that target's family relationships, get their Social Security number, address, phone number, height, weight, and eye color. Add a license plate number, and Palantir’s system can often allow law enforcement to track where people have been during any period of time. Though much of this kind of information is available to law enforcement via separate means, Vice reports that Palantir’s system “aggregates and synthesizes” it in such a way as to give “law enforcement nearly omniscient knowledge over any suspect they decide to surveil.” As ICE prepares massive raids of immigrant families this weekend, the revealed Palantir system sheds light on how the government tracks and finds people to arrest and deport.

Totally Unnecessary Bluetooth Hair Straightener Is—Shocker!—Easy to Hack

No one has ever actively wanted a hair straightening iron that connects to the internet of things, but that didn’t stop UK-based company Glamoriser from making one. If you happened to buy the company's Blue Smart hair straightener—perhaps not even realizing it had Bluetooth capability, because why would it?—then TechCrunch is sorry to report but hackers could totally seize your device, and well, change the temperature of the hot iron remotely, if they wanted to. Would they want to? Probably not. But then again, why would you ever want to control the temperature of the straightener from your phone, rather than the device itself? Who knows! It’s a mystery!

The Apple Watch Walkie-Talkie App Allowed iPhone Eavesdropping

Apple announced this week that it was disabling the push-to-talk Apple Watch Walkie-Talkie app after the company learned it let people eavesdrop on other people’s phones without permission. The tip came in through Apple’s bug-reporting portal, and Apple says it has no evidence that anyone actually took advantage of the vulnerability. Apple apologized for the bug and promised to “quickly fix the issue,” according to a statement reported by TechCrunch.

Trump’s 4th of July Parade Bankrupted DC’s Special Security Fund

The Washington Post reports that DC's local government paid $1.7 million to secure Donald Trump’s Fourth of July military parade and fireworks display. That amount, DC mayor Muriel E. Bowser said, has left the district’s special security fund empty. That account is intended for security measures for events, rallies, and to protect against terrorism. In 2017, Trump’s inauguration reportedly cost the district $7.3 million in security expenses, which were also drawn from that same fund and never reimbursed. The mayor is requesting the White House refill the District’s security coffers, arguing that it’s unprecedented and unfair for the DC to pay for federal security with local tax money meant to protect residents of the District of Columbia.

Article Produced By
Emily Dreyfuss

Emily Dreyfuss is a senior writer at WIRED, covering technology’s impact on society. She was a 2018 Nieman-Berkman Klein Fellow in Journalism Innovation at Harvard University, and previously worked at CNET as a senior editor. She cut her teeth in newspapers in Connecticut after graduating from Wesleyan University with a bachelor’s degree in English. She lives in San Francisco.

https://www.wired.com/story/palantir-surveillance-apple-watch-security-roundup/

Bitcoin Price Skyrockets by 1000 in 30 Minutes: The Second-Largest Green Candle of 2019

Bitcoin Price Skyrockets by $1,000 in 30 Minutes: The Second-Largest Green Candle of 2019

After a tumultuous week for Bitcoin, the cryptocurrency just printed one of its largest positive candles since the beginning of this year’s bull run. It shot up 9 percent in a matter of minutes, breaking the psychological level of $10,000 and bringing its current price to about $10,300.

                               

BTC 4-Hour Chart

Bitcoin Prints a Massive Green Candle

The past week has been nothing but turbulent for Bitcoin’s price. After surging to about $13,000 nine days ago, the cryptocurrency experienced a prolonged downtrend which brought the price down to a monthly low around $9,000. Even though many considered this to be a healthy correction after a massive uptrend, it’s safe to say that the negative price action got people worried. 

However, in the past hour, Bitcoin printed one of the largest green candles on the chart since the beginning of the bull run this year. The cryptocurrency shot up by over $1,000, representing a staggering increase of 9.5% in a few minutes. Naturally, this was immediately picked up by prominent community members and popular analysts, who didn’t miss the opportunity to comment on the matter. 

What Caused the Sudden Spike?

Determining the exact cause of the sudden spike is definitely a challenging task, if it’s possible at all. However, recent events have been rather good for Bitcoin. Earlier today, Rep. Warren Davidson, in a hearing involving CoinShare’s Meltem Demirors, made a clear differentiation between Bitcoin and so-called “shitcoins.” He explained that the latters’ values could be distorted by central authorities, whereas this would not be possible with Bitcoin. 

Moreover, just yesterday, Rep. Patrick McHenry was definitive when explaining that there’s no authority, not even China, that could “kill Bitcoin.” Furthermore, the Chairman of the US Federal Reserve expressed his opinion on Bitcoin, reaching a very important conclusion that it is a “store of value… like gold.”

Positive political news in the cryptocurrency space also came from the UK, as the chief of the country’s treasury said that his department was looking into ways to regulate the space, and Facebook’s Libra in particular. It will be interesting to see whether Bitcoin can retain its recent sudden gains. This will perhaps provide us with a clearer picture of what we can expect next.

Article Produced By
Felix Mollen

https://cryptopotato.com/bitcoin-price-skyrockets-1000-in-30-minutes-the-second-largest-green-candle-ytd/