Just 376 People Found to Own a Third of All Ether Cryptocurrency

Just 376 People Found to Own a Third of All Ether Cryptocurrency

 

                                  

 
  • New study says so-called whales don’t move Ether prices much

  • Bitcoin price found to be good indicator of where Ether trades

Just 376 people hold a third of all Ether, the cryptocurrency that powers the Ethereum blockchain, according to new research by Chainalysis Inc.Large holders are known in the crypto market as “whales,” which Chainalysis defines as individuals who hold their assets in digital wallets and not on an exchange, Kim Grauer, a senior economist at the company, said in an interview. By comparison, 448 people own 20 percent of all Bitcoin, she said.Chainalysis also looked at the effect Ether whales have on price, and found that large holders don’t move their cryptocurrency often.

“The majority of whales aren’t traders,” she said. “They’re mostly holding.”

The study also found that when a whale moves Ether from a wallet to an exchange, there is a small but statistically significant effect on market volatility. Investor sentiment and the price of Bitcoin are strong indicators of where Ether will trade, the Chainalysis research found. As Bitcoin rallied 52 percent since the beginning of May, Ether rose 48 percent.

Grauer plans to turn the research into an academic paper analyzing the effect of large Ether holders on the market and will discuss the data Wednesday at the Consensus blockchain conference in New York. “We’re excited to bring the models that have been applied to the stock market to cryptocurrencies,” she said. The data on Ether was collected from early 2016 to the end of April, before Ether and Bitcoin surged in recent weeks. “It’s unfortunate this bull run didn’t happen a month ago to be part of our analysis,” she said, adding that the link between Bitcoin’s price and that of Ether backs up their findings.

Article Produced By
Matthew Leising

https://www.bloomberg.com/news/articles/2019-05-15/just-376-people-found-to-own-a-third-of-all-ether-cryptocurrency

 

Ripple’s XRP Network Might Be Prone to Suffer Similar Outage As Stellar Lumens

Ripple’s XRP Network Might Be Prone to Suffer Similar Outage As Stellar Lumens

                               

 

On May 14th, the Stellar network went down.

The problem was caused by some of the validators of the Stellar Development Foundation going down. The incident caused many in the cryptocurrency space to question the level of decentralization of the Stellar network. In a blog post, Stellar promptly responded to the outage and the “over-centralized”

critiques of the network.

“We’ve seen claims that Stellar is “over-centralized” and that somehow a failure with SDF’s nodes dragged down the whole network. Ironically, the opposite is true. Stellar has added many new nodes recently. In retrospect, some new nodes took on too much consensus responsibility too soon. We need better community standards around maintenance timings, quorumset building, and validator configuration.”

Ripple CTO David Schwartz was impressed by the way Stellar handled the situation. He laid out his thoughts on the matter in a Twitter thread. Schwartz broke down the issue and explained that similar problems could possibly arise on

the Ripple network.

“The same thing can happen on the XRPL. If too many validators are missing, the network will halt because there’s no way to be sure that they’re not validating other ledgers and you just can’t see them due to a network issue. “PoW system make forward progress even where forward progress is unsafe. XRPL and Stellar do not make forward progress under potentially unsafe conditions.”

Schwartz went on to breakdown how the Stellar protocol actually worked as intended. The temporary shutdown is actually a better result than the chaos that could ensue. An accidental hard fork could occur if the consensus protocol fails. Schwartz’s explanation caused a lot of hardcore Ripple fans to take a step back to look at the bigger picture. Many even admitted to and expressed remorse for their knee-jerk reactions and trollish responses. Ultimately, to avoid this particular issue, more validators are needed. This means that more users and validators are needed. And as the cryptocurrency community strengthens and the number of participants grows, security and efficiency go up.

Article Produced By
Stephen Brown

Cryptocurrency enthusiast and Expert in content creation and planning, project management, process improvement, media operations, and staff training. BA in Political Science from Brooklyn College. Contact: stephenbrown [at] zycrypto.com
 
 

Roger Ver Debunks Craig Wright’s Claims that He Owns Some of the First BTC Adresses

Roger Ver Debunks Craig Wright’s Claims that He Owns Some of the First BTC Adresses

                                  

Satoshi Craig Wright sued Bitcoin Cash figurehead,

and former business partner, Roger Ver for libel after being called a “fraud and a liar.” Ver responded by seemingly debunking Wright’s claim that he controlled several high-profile Bitcoin addresses. For two weeks we thought that tensions between Satoshi Wannabe Craig Wright and the rest of the planet had been quieted down. However, seems that poor Wright needed money to pay out Calvin Ayre’s sun tan he is getting in Antigua so he decided to show up again. Well, at least he stays consistent. Just to remind you, Ver got served a lawsuit by Wright at a Bitcoin Cash summit two weeks ago. He was sued for calling Wright a scammer and a liar in a video which has been removed as it goes against set rules by the YouTube community. However, Ver has now released a copy of the video on Twitter. We had a chance to ask him to comment on this whole situation even before he got served.

He said:

“I think Craig Wright cut his own side. He is always on his own side and if his side, maybe for the moment or for the day lines with someone else’s, he may join someone’s side just for the day but as far as I can tell – he is on his own side.

Bitcoin cash is community that wants to build P2P cash for the people around world to use and we want everybody to be able to benefit from that. I know he is suing everybody with different opinion than his. They said they’re suing me but they didn’t serve me yet. But I am sure he wants to sue me.”

However, it seems that Roger finally got sick of it (like every normal person would) and he decided to strike back. Ver responded to the lawsuit by seemingly debunking Wright’s claim that he controlled several high-profile Bitcoin addresses, which would have suggested that Wright is Satoshi Nakamoto. The addresses, which were described as a “lazy copy-paste job,” was supposed to prove that Wright owns some of the first Bitcoin addresses ever created. Ver decided to debunk his claims by using one of the listed addresses to create a signed message. Crypto enthusiasts and avid followers of the Wright soap opera were quick to verify the signature, which did indeed show that the address was not owned by Wright.

Satoshi, Solotoshi – Is There Any Difference?

In the meantime, a few days ago, we could hear another, yet not mentioned name to stand behind the Satoshi suffix. Satoshi Nakamoto person, or whatever that is, has not been seen online in more than eight years. Evidence has now surfaced that points to a new Satoshi candidate, whose known life has a number of parallels with that of Bitcoin’s inventor. His name is Paul Solotoshi Calder Le Roux and, if he would actually be the real Satoshi, he would have had a good reason why his 1 million BTC hasn’t moved – the Rhodesian has been in jail since 2012. Even if Le Roux did create Bitcoin, it does not follow that money laundering was his goal: it would likelier have been an extension of his obsession with cryptography, which can be traced back to the 90s.

If it’s to believe what Wikipedia says, he was a brilliant programmer and privacy ideologue who worked on E4M (Encryption for the Masses), software which “is capable of encrypting entire disks, and optionally of plausible deniability (denying the existence of an encrypted volume).” However, not to be boring, presidential candidate and software developer, John McAfee had to have his tweet: Even though McAfee vowed to reveal the identity of the anonymous Bitcoin creator known as Satoshi Nakamoto, he later backed out, saying lawyers warned him it could complicate his plan to fight extradition to the U.S. from the Bahamas. However, when asked about this, a Justice Department spokesman in Washington said that he had no information.

Adam Back: Satoshi is An Individual

Last but not least comes from Blockstream CEO Adam Back who claims that Satoshi is an individual, not a group of people. Black may be important because he is the person who was actually cited in THE Bitcoin’s white paper. According to Back, this explains why the real identity of the person who started it all hasn’t been revealed yet. It’s hard to keep secrets when a group of individuals is involved.

He said:

“It just seems like something one person would do to me.”

Article Produced By
Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

https://www.coinspeaker.com/roger-ver-debunking-craig-wright/

Altcoin: Cryptocurrency Market is Expanding

Altcoin: Cryptocurrency Market is Expanding

                                

Bitcoin is widely regarded as the Founding Father of all contemporary cryptocurrencies.

People first heard of Bitcoin in 2009 when Satoshi Nakamoto, whose identity still remains unknown, revealed an open-source code that was actually an improved conceptualization of a cryptography method known as blockchain. Nakamoto has successfully implemented a proof-of-work algorithm that came to be known as the bitcoin software.

 

Bitcoin laid a foundation for the development of other cryptocurrencies which obtained the collective name ‘alternative coins’ – altcoins. Less than ten years later since Bitcoin emergence, we officially have more than 1600 cryptocurrencies, with new kinds of this digital cash being introduced almost on a weekly basis. They are based on different algorithms and blockchain types, have different value and purpose, some of which will be described later in the article, but Bitcoin still remains a dominant currency that usually sets the market trends for the rest.

Altcoins are pushing harder

However, everything indicates that this prevalent position is gradually diminishing with altcoins gaining more popularity as well as market capitalization. According to the study conducted by the employees of the City University of London, there are 600 cryptocurrencies, aside from Bitcoin, which are being actively traded on crypto exchanges around the world. Coinmarketcap shows that the percentage of total market capitalization (TCM), also known as ‘dominance’, of Bitcoin with regard to altcoins has been reducing exponentially. In 2017, Bitcoin held as much as 86.29% of TCM, but in just two years it was reduced to 47%. It means that altcoins will continue to attain a strong footing in the crypto world and have more and more fields of application, with online gambling certainly being among the most popular ones.

Popular altcoins and their scope of use

Nowadays, when speaking of cryptocurrencies there is no way to avoid mentioning Ethereum, or Ether, a digital token that is the lifeblood of the blockchain operating system of the same name. Thanks to this platform, users can create smart contracts, a protocol that provides means for carrying out credible transactions without any intermediaries. Ether is probably the most popular altcoin today because it is widely accepted as a mean for investment in blockchain startups. Litecoin is often referred to as the ‘younger brother’ of Bitcoin because it is basically a slightly improved version of BTC. Nevertheless, it enjoys vast popularity because of its superior transaction confirmation mechanism known as the Litecoin Network.

Dash is also a reformed version of Bitcoin which uses several cryptographic algorithms and the system of master nodes to allow for almost instant transactions. Monero is based on the CryptoNote protocol that ensures the unparalleled level of anonymity along with the obfuscation, the act of making something incomprehensible, of all transactions thus making them impossible to trace. As you can see, these altcoins have different foundation and functionality, but all of them, as well as more than a dozen other cryptocurrencies, can be used for making bets on sports and playing in online casino at 1xBit, the most crypto-friendly gambling platform around.

1xBit happily accepts altcoins

If you are a crypto enthusiast who also likes to bet on sports or play in live online casinos, but just couldn’t seem to find the all-for-crypto platform that will cater to your needs, then look no further than 1xBit. Acting in compliance with the concept of total anonymity, 1xBit doesn’t gather any personal information from new users and allows them to play in a safe and confidential environment thanks to the one-click registration process. All deposits/withdrawals are carried out almost instantly and at a very low to no-fee basis. 1xBit broadens the scope of use of altcoins by providing a fully-fledged crypto-oriented gambling platform.

Article Produced By
Carolyn Coley

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

 

https://smartereum.com/53130/altcoin-cryptocurrency-market-is-expanding/

Northern Irish Capital Belfast Introduces Local Digital Currency

Northern Irish Capital, Belfast Introduces Local Digital Currency

Top 4 Ways to Cash out Crypto Profits in 2019

Top 4 Ways to Cash out Crypto Profits in 2019

                               

 

 Most people are interested in cryptocurrencies

as a way to make money. Whether it is an extra income, some minor profits, or a full income as a self-employed trader, the opportunities are nearly limitless. Cashing out crypto profits can often be somewhat more complicated. Several options are at one’s disposal in this regard, although there is no one solution which works for everyone.

Traditional Exchanges With KYC

Perhaps the most commonly used option to cash out crypto profits comes in the form of using traditional trading platforms. Not everyone is a fan of centralized exchanges, which is only normal. Dealing with order books and going through a KYC process is not necessarily synonymous with a hassle-free experience. Despite those potential drawbacks, trading platforms remain a valuable option to convert cryptocurrency into more mainstream currency. Several factors need to be taken into consideration in this regard. First of all, one needs to adhere to specific withdrawal limits. Depending on one’s account verification level, those limits can range anywhere from $2,000 a day to unlimited funds. Secondly, these companies adhere to strict KYC guidelines, which means they may disclose your transactions to interested governments. Avoiding the need to pay taxes on such transactions is ill-advised, albeit that remains one’s personal decision first and foremost.

OTC and Peer-to-peer Trading

Another commonly used option is to rely on OTC or peer-to-peer trading. In terms of cashing out crypto profits, it is a viable option. There will often be people willing to buy from OTC or P2P sellers at a fair price. Interested users need to ensure they do not overdo this process. Many governments target Bitcoin sellers who are, in their eyes, acting as an unlicensed money transmitter of some sorts. For those users dealing with small amounts of cryptocurrency, LocalBitcoins and consorts are always worth checking out. This platform is available in virtually all countries and allows users to sell Bitcoin for any type of payment method they prefer. Sellers can also determine their own rates to sell cryptocurrency, which always makes things a bit more exciting. Make sure to rely on platforms offering escrow protection of some sort, as that will allow for more secure transactions.

Debit Cards Supporting Cryptocurrencies

Over the past year and a half, most discussions pertaining to Bitcoin debit cards have calmed down. That doesn’t mean this business model is no longer viable. Especially for users looking to cash out crypto profits, a cryptocurrency debit card can be a viable tool. Users can withdraw local or foreign currency from nearly all ATMs around the world, although a small fee might be added for doing so. Similar to dealing with OTC and P2P trading, it is not something which should not be overdone. Cryptocurrency debit card providers also use bank accounts and keep logs of how their customers operate. Any user potentially funding a card with thousands of dollars and withdrawing funds every week will attract attention. That can lead to an official investigation in one’s home country if those earnings are not reported to the right authorities accordingly. 

Contact a Tax Attorney or Accountant

As odd as it may sound, one of the safer options to cash out crypto profits is to directly contact a tax accountant or attorney. These individuals can aid in ensuring the crypto earnings can be withdrawn and all tax requirements will be taken care of accordingly. Since it is their job to often deal with vast sums of money they may be able to offer some alternative solutions to maximize one’s profits while remaining compliant at all times.

Options like these might not be in most people’s top 5 by any means. Cryptocurrency is often seen as a solution to bypass traditional financial systems in any way. Choosing that option can often yield unexpected and unwelcome consequences. As such, talking to an expert is a solid option. Any information or advice can be obtained free of charge without further commitments.

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

https://nulltx.com/top-4-ways-to-cash-out-crypto-profits-in-2019/

Zeux Partners With VeChain Supports Crypto Payments Via Apple Pay and Samsung Pay

Zeux Partners With VeChain, Supports Crypto Payments Via Apple Pay and Samsung Pay

            

The crypto payments app Zeux is rolling out support for VeChain (VET).

The app is designed to let users spend their crypto at retail stores that accept Apple Pay and Samsung Pay. The London-based company says it has launched in the UK and will be up and running in Europe later this year.

“VeChain has been a major player in developing its blockchain to make a difference in enabling enterprises and professional teams to leverage public blockchain. In particular, given the large VeChain community in Europe, the partnership will help us to reach our target European customer base”. Once crypto spenders activate their Apple Pay or Samsung Pay at a supported point-of-sale (POS) device, selecting their preferred cryptocurrency to complete the purchases, a merchant will then receive fiat. The cryptocurrency is instantly deducted from the spender’s Zeux digital payments wallet, with no charges for the conversion.

The fintech company says it’s aiming to create a digital banking solution that combines all banking activities on a single app to bridge the gap between traditional POS payment systems and the new era of crypto.The team at Zeux says the app will also integrate a built-in investment platform and a foreign exchange function. VeChain is just the latest addition to the crypto lineup on Zeux. The platform also supports Bitcoin, Ethereum, NEO, IOTA, Qtum and Bitcoin SV.

Article Produced By
THe Daily Hodl

https://dailyhodl.com/2019/05/12/zeux-partners-with-vechain-supports-crypto-payments-via-apple-pay-and-samsung-pay/

 

 

 

 

 

Chainlink LINK: Flying High in Current Crypto Market on Partnership News

Chainlink (LINK): Flying High in Current Crypto Market on Partnership News

                                  

 

Chainlink (LINK), the decentralized oracle middleware project

that helps smart contracts interact with real-world data, has been among the best performing crypto projects so far in 2019. Of course, bitcoin (BTC) has been the one leading the cryptoeconomy up as of late, being up 11 percent on the week, up 18 percent on the month, and up 73 percent over the last three months. Yet LINK has been putting up similarly optimistic numbers — the crypto’s price is up 43 percent on the week, up 29 percent on the month, and up 54 percent over the last three months in kind.

The crypto, which now enjoys enjoys a market capitalization of approximately $240 million USD, is currently priced at $0.068 — now more than halfway to its all-time price high of $1.28, which was reached during the peak of the cryptoeconomy’s last bull run in January 2018.

As the crypto ecosystem has seemingly started to turn bullish once more, many of the top coins’ prices have started to show new signs of life in the market. But LINK, a lesser known project generally speaking, has been one of the better performers recently — why? The answer to that question is undoubtedly a combination of things. First, Chainlink is tackling decentralized oracles, which could end up taking smart contract tech to the mainstream. It’s also the largest and most reputable project working on oracles, with Chainlink’s technical maestro Sergey Nazarov being a respected mind in the ecosystem.

A factor surely at play is Chainlink’s small, underdog status. Traders have likely looked at LINK as a coin that can grow higher and faster than top 10 crypto projects that have already become well established. Thus, Chainlink could provide a more aggressive bet than other coins at present. Another dynamic to consider is that the Chainlink team has been quietly racking up partnerships around the space. Decrypt recently profiled these partnerships, of which there are now approximately 30.

Hedera Hashgroup and Chainlink Partner Up

Chainlink’s latest partnership announcement came on May 9th, as the team and the builders of the Hedera Hashgraph decentralized ledger declared they had inked a deal. Specifically, the agreement will entail Chainlink helping to implement its oracle network into the enterprise-minded Hedera Hashgraph ledger. As such, those writing Hashgraph smart contracts will be able to leverage Chainlink’s oracles in the future. Jordan Fried — Hedera’s SVP of Global Business Development — hailed the collaboration as an advancement for the possibilities of smart contracts

in general:

“Smart contracts have already started to change the world, and how organizations and individuals do business, and we see Chainlink’s oracle network as a key piece of infrastructure to improve smart contract capabilities even further.”

The Hedera team also noted that the team-up would give Chainlink’s tech exposure to some of the “largest global enterprises” operating today.

LINK a Coin to Watch in Alt Season Cycle?

The debate is still on as to whether the cryptoeconomy has entered a full-fledged bull market cycle. If it has, though, Chainlink seems like the kind of coin worth keeping an eye on. Chris Burniske, a partner at the venture capital firm Placeholder, recently outlined how bitcoin seems to rally first, at which point traders disseminate their profits into altcoins that are viewed as “depressed” — i.e. undervalued. In his associated Twitter thread, Burniske didn’t mention any specific altcoin by name — “pick your alt,” he said.

Yet the possible tinderbox conditions around Chainlink seems to make it precisely the kind of “depressed” altcoin that could help lead the cryptoeconomy’s next altcoin cycle if the bitcoin price continues to push up. Nothing is guaranteed in crypto, and it’s impossible to say what will happen next in these markets. But in the very least, it’s clear Chainlink is an interesting project to watch going forward.

Article Produced By
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William M. Peaster

William M. Peaster is a poet, novelist, and cryptocurrency editor. He is not a financial adviser. He enjoys covering both the promise and warts of the emerging cryptoeconomy.

https://blockonomi.com/chainlink-link-flying-high-partnership-news/

The SEC Has a New Exchange Traded Fund Application to Review

The SEC Has a New Exchange Traded Fund Application to Review

                                

The U.S. Securities and Exchange Commission (SEC)

has posted a new proposal from Crescent Crypto Index Services, a subsidiary of Crescent Asset Management, for the launch of a crypto-backed exchange-traded fund (ETF). According to the application, the company, which is based in New Jersey, will be looking to monitor the performance of a portfolio of ether (ETH) and bitcoin (BTC). The fund has been named the “USCF Crescent Crypto Index Fund” with “XBET” being its proposed ticker.

It will also be sponsored by United States Commodity Funds LLC, a commodity pool operator which, according to the filing, is under regulatory oversight from both the National Futures Association and the Commodity Futures Trading Commission (CFTC). The new ETF proposal joins the list of proposals being reviewed by the SEC, including the Bitwise Bitcoin ETF Trust, an ETF proposal filed jointly by Bitwise Asset Management and the New York Stock Exchange (NYSE) Arca, and the VanEck SolidX proposal that has yet to be approved since it was first filed in 2018.

The fact that there are three separate ETF proposals is an encouraging sign for crypto investors, even though the SEC has yet to approve any of them. But in the last two years, numerous companies have failed in their bids to secure ETF approval, including the Winklevoss-owned Gemini Trust, ProShares and Direxion. Some other companies have also had to withdraw their proposals after several delays from the regulator. Among other rationale, the SEC’s stated reasons for denying these proposals rest on concerns over market manipulation and insufficient investor protection.

Article Produced By
Jimmy Aki

https://bitcoinmagazine.com/articles/sec-has-new-exchange-traded-fund-application-review/

Tron’s DAU Highs But Will TRX Respond and Rally? Dalmas Ngetich May 4 2019 7:00 pm

Tron’s DAU Highs But Will TRX Respond and Rally? Dalmas Ngetich | May 4, 2019 | 7:00 pm

  • Tron (TRX) prices drop 3.5 percent

  • Platform registers new dApp DAU highs

Tron’s superior dApp count and DAU is the reason why Misha Lederman, the network’s advisor of the Dapp Evolution Ecosystem is upbeat. Regardless, TRX prices are under pressure but technically bullish above 3.1 cents.

Tron Price Analysis

Fundamentals

Misha Lederman is a Tron and TRX bull. He’s an ardent supporter as well a certified protector of the network. While Justin Sun has his fair share of criticism, what Tron represents and strive for cannot be dismissed. Adopting a delegated proof of stake consensus algorithm and introducing super representatives, their network is scalable and fast.

However, Tron’s value proposition lies not in their throughput but their TVM. Launched less than three quarters ago, it is compatible with Ethereum’s, and the icing on the cake is perhaps their irresistible offers. Because of that and incentives as Tron Arcade, for example, some projects did shift camps, migrating from Ethereum and settling for speed and scalability. Add that to the successful acquisition and tokenization of BitTorrent, and it is not hard to see why Misha is optimistic. In his latest tweet, he said Tron’s superior dApp and daily active user count is a testament enough of their superiority over competitors and that the platform’s potential is only beginning to show.

Candlestick Arrangement

Nonetheless, Ton (TRX) is under pressure, dropping 3.5 and 4.3 percent in the last day and week. All the same, technical candlestick arrangements are supportive of bulls. From our previous TRX/USD trade plan, the asset is trending within a bullish breakout pattern as TRX prices oscillate within a 1 cent range with caps at 2.1 cents and 3.1 cents on the upside. Currently, prices are ranging at around the breakout level at 2.5 cents, which is neutral but bullish. However, it is after there is a sharp move above Apr-30 highs confirming the double-bar bullish reversal pattern ofApr-25-26 that traders can begin loading up with tight stops at Apr-30 lows and targets at 3.1 cents. However, for trend continuation, prices must close above the consolidation at 3.1 cents as buyers of late Dec 2018 flow back.

Technical Indicator

As aforementioned, Tron (TRX) is flat, trading at 2.5 cents. Even so, buyers are in control as long as prices are above 2.1 cents or Jan-14 lows. Accompanying the next wave towards 3.1 cents must be high volumes exceeding 13 million of Apr-25 as laid out in our last TRX/USD trade plan. Conversely, losses below 2.1 cents must be with equally high volumes.

Article Produced By
Misha Lederman

https://www.newsbtc.com/2019/05/04/trons-dau-highs-but-will-trx-respond-and-rally/