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Monday, June 11, 2018

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 In May 2018, reports developed that the United States Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) were working together to explore suspected Bitcoin value control exercises. Spin-off of this, the U.S. government has asked four noteworthy digital money trade stages to hand over complete exchanging data. 
Robert Sluymer, the Chief Technical strategist at Fundstrat, as of late pronounced $7,000 as the BTC base cost. He likewise said that some positive specialized patterns were building up that could see Bitcoin costs start to rally. A large portion of the examination in the previous couple of weeks from master analysts have been about positive here and now markers.At this point there is the issue of the value control.
After my technical analysis, bitcoin still looks very bullish. from r/Bitcoin

Saturday, June 9, 2018

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Ethereum could be the market indicator in the future.

A year ago, the average human did not know what cryptocurrency was. The market was limited mostly to a techy crowd of developers and very early adopters, considering Bitcoin was the only major currency on the block back then. But thanks to a number of really smart entrepreneurs, rising prices, and a powerful community, everything is changing and crypto is going mainstream.

Entire governments, such as China's, are considering utilizing a national digital currency. Even the president of Russia, Vladimir Putin, met with the founder of Ethereum, Vitalik Buterin. All of this good press and positive outlook has caused many billions of dollars to be added to the market in the last year.

Bitcoin May Be Down, But It's Actually Ahead of Schedule to Hit $1 Million by 2020

The excitement about the cryptocurrency market has attracted a lot of entrepreneurs who are looking to disrupt big industries through Blockchain technology.

Ethereum, Litecoin, EOS and others are leading the charge of the technological revolution that is blockchain. Cryptocurrency-based crowdfunding known as Initial Coin Offerings (ICOs) are also a major player in the revolution. Blockchain startups like The Bancor ICO raised $153 million dollars in a matter of a few hours. This new wave of Blockchain startups, such as Sia's Storage Platform e.g. leverages underutilized hard drive capacity. If they are even remotely successful, we are looking at many 10s if not 100s of billions of dollars being added to the overall cryptocurrency market as they continue to grow.

Current blockchains, such as Bitcoin and Ethereum, can only process ten’s of transactions per second while other mainstream payment process systems, such as Visa or Mastercard are able to process thousands of transactions per second. Undoubtedly, a scalable version of  blockchains like Ethereum would make cryptocurrency the payment method of choice and project it into the mainstream.

The cryptocurrency market can seem volatile compared to traditional markets. There is more up and down movement, but the general trend line is a strong uptrend. A lot of people believe Ethereum alone will be worth over $1,500 a token in the next year or two. That will drive the prices of many other currencies up a lot.

In the future, Ethereum could be more of the market indicator than Bitcoin currently is. Meaning, if Ethereum goes up, everything else tends to go up, which has been the case for Bitcoin recently, as it tends to control the market.

The market as a whole has been particularly stable in recent weeks. Ethereum was worth as much as $620 a token and as little as the $580 range in the last few weeks. But the strength of the market really shines when the $580 "drop" happened and it quickly re-tested $620 multiple times and showed that $580 was the current floor price. This creates a sense of security in the market and helps people believe in it more long term when they see these quick rebounds from drops in price.

Friday, May 25, 2018

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Cryptocurrency is a ‘Token’, We Won’t Call it a Currency: South Africa’s Central Bank

South Africa’s central bank is choosing to call cryptocurrencies like bitcoin as ‘cyber-tokens’ rather than currencies, arguing they do not ‘meet the requirements of money’.
SARB Deputy Governor Francois Groepe

The South African Reserve Bank (SARB), the country’s central bank, prefers to see cryptocurrencies as ‘tokens’ rather than currencies according to deputy governor Francois Groepe.

As things stand, the authority has not outlined any policies or a regulatory framework for the cryptocurrency sector. Even so, the central bank’s current outlook could lead toward an official policy sometime in the future.
In quotes reported by Bloomberg, the central bank official explained:
We don’t use the term ‘cryptocurrency’ because it doesn’t meet the requirements of money in the economic sense of the stable means of exchange, a unit of measure and a stable unit of value…We prefer to use the world ‘cyber-token’.
It isn’t immediately clear why the official weighed in on the still-unofficial stance on cryptocurrencies but the deputy governor offered his remarks while speaking to reporters in Pretoria, one of South Africa’s three capital cities, on Thursday.

The South African Reserve Bank (Sarb) has set up a team to monitor cryptocurrencies and FinTech developments to inform an appropriate policy framework and regulatory regime. The team is expected to assist Sarb in formulating an appropriate policy framework for the possible regulation of cryptocurrencies and FinTech innovations.

Cliffe Dekker Hofmeyr finance and banking practice director Bridget King however said that while banking and the national payment system fell within the Reserve Bank’s jurisdiction, cryptocurrencies were not suited to traditional centralised supervision.

“For this reason self-regulation through self-regulatory organisations (SROs) may be a more likely solution for the regulation of cryptocurrencies,” she explained.

An SRO is a non-governmental corporate body that is authorised to publish own rules, directives and industry standards for its members.

King said when regulating cryptocurrencies such as Bitcoin, Sarb would be most concerned with preventing systemic market risk and ensuring that the country’s financial system remained sound, efficient and competitive while embracing the developments in FinTech and cryptocurrencies.

She said due to the rate at which FinTech was changing and evolving on a daily basis, it could be better not to regulate the industry too soon.

“Regulating cryptocurrencies prematurely could have the negative consequence of throttling the growth and innovation of the industry. In addition, if laws are drafted based on existing technology, which is still in its growth phase, there is a risk that the technology may have moved so much by the time the legislation is enacted, that the legislation is obsolete or requires updating almost immediately to align with the latest technology,” said King.

However, she Sarb would have to weigh this up against the dangers of delaying the implementation of a FinTech regulatory framework too much. “The anonymity of cryptocurrencies, and the fact that transactions cannot be traced make the currency attractive to those engaged in criminal activities.

“Consumers urgently need to be protected against hackers and other threats to their investments and transactions, and the regulators have cautioned that there is no supervisory authority, ombud or regulator to hold accountable for lost or stolen virtual currency.”

SARB has said that it would investigate the use of DTL as a means to process secure, electronic payments.

The central bank said the investigation, nicknamed “Project Khoka”, would be launched as an experiment to replicate interbank clearing and settlement using Quorum – an Ethereum enterprise system. Eight banks have signalled interest in being nodes on the network and tests of the system have already commenced, said Ismail.

The test is intended to allow the SARB and the banking industry to collaboratively assess the potential benefits of distributed ledger technologies.

“The aim of this project is to gain a practical understanding of DLTs through the development of a proof of concept (POC) in collaboration with the banking industry. The objective of the POC is to replicate interbank clearing and settlement on a DLT which will allow the Sarb and industry to jointly assess the potential benefits and risks of DLTs,” SARB said in a statement.
Having established a FinTech task force earlier in January, the SARB also installed a self-regulatory body tasked to review and outline a regulatory framework for the cryptocurrency sector in April. “[S]elf-regulation through self-regulatory organisations (SROs) may be a more likely solution for the regulation of cryptocurrencies,” the central bank’s banking practice director Bridget King said, claiming cryptocurrencies aren’t suited to traditional centralized supervision afforded to the banking and financial sectors.
In revealing the SARB’s position on cryptocurrencies yesterday, Groepe touched on the FinTech unit at play, stating:
“We want to ensure or establish whether there is still compliance with the relevant financial surveillance or exchange-control regulations.”
At the fundamental core, central banks represent the very basis of a traditional financial system that cryptocurrencies are meant to disrupt. No surprise then that most central banks and their officials offer a skeptical take with many, like the SARB, refusing to classify cryptocurrencies as money.
Elsewhere, the deputy governor of Israel’s central bank also claimed bitcoin and other digital currencies weren’t currencies nor foreign currencies but a ‘financial asset’ instead, earlier this year. Bank of England governor Mark Carney opined bitcoin had ‘failed’ as a currency so far on possessing the ‘traditional aspects of money’.
A recent effort by Zimbabwe’s central bank to ban financial institutions from providing services to the cryptocurrency exchanges and the wider industry was quickly snuffed by the High Court in Harare yesterday.
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Serious chart analysis and trading - Peter Brandt

Obsess over diligence…everything else follows naturally.

Peter Brandt

World renowned veteran Trader of classical charting principles for over four decades and #1 author on Amazon with trading book Diary of a Professional Commodity Trader. A man dedicated to helping others in the world of market speculation.

Thursday, May 17, 2018

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We're expecting a more conventional flagship phone launch from HTC in the next few weeks, but in the meantime it has announced a blockchain-based handset called Exodus. The company says the focus of the phone will be security, encryption, and cryptocurrency support.

Blockchain is one of the hottest terms in tech right now, though you'd be forgiven for getting confused about exactly what it means. In simple terms, it's a log of transactions – the transactions are the blocks, and the ledger is the chain. It can be public (available to the world at large) or private (available to a select group).

The idea is that security and transparency are increased by having a blockchain, so it's harder to commit fraud: Changing one block immediately brings up errors in the adjoining blocks, for example. Importantly, the system is also decentralized, so it's not located in any one specific place or owned by one entity.

The technology was created to underpin Bitcoin, but has since been put to all kinds of uses, from social networks to board games. The fact that it's available to everyone on a particular network doesn't mean all those people can see what you've been spending your Bitcoin on, but it does mean there's a record of money changing (virtual) hands.

So, how does all this apply to phones? Blockchain technology can be applied anywhere security and decentralization are important, from online shopping to private communications, and HTC is hoping to tap into that.

Each Exodus phone will act as an encrypted node on a blockchain network, making the phone and data stored on it as difficult to break into as it is to tamper with a Bitcoin block (very difficult, in other words).

The phone will also run what HTC is calling "DApps", decentralized applications also based on blockchain technology, with their own public ledgers. Information from these apps will be verified by users on the network, with cryptocurrency rewards in Bitcoin and Ethereum available (both cryptocurrencies will be tightly integrated into Exodus phones).

"Our vision is to expand the blockchain ecosystem by creating the world's first phone dedicated to decentralized applications and security," says HTC. "With the release of the HTC Exodus we can now make this a reality."

All we know so far is that the phone will run Android, have a touchscreen and a single rear camera, and support a SIM and a microSD card. As yet there's no news on when the phone will actually appear or how much it will cost, though you will be able to buy one with your cryptocurrency stash when the time comes.

HTC EXODUS Blockchain phone

Blockchain (and Bitcoin) are very much nascent technologies right now, full of promise and potential but still some way from mainstream adoption. Only time will tell if the HTC Exodus ends up being another step towards blockchain reaching the masses.

Wednesday, May 2, 2018

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Blokketting is NIE Kripto geld nie.

Daar is groot verdeeltheid onder baie van die nasies van die wêreld ten opsigte van blokketting tegnologie en cryptocurrency. Die opsomming van hierdie vertelling kan kortliks uitgedruk word as: "blockchain is goed, terwyl kripto's sleg is."

'n Aantal lande soos China, Indië, Frankryk en die Verenigde Koninkryk wat óf verbod het op kriptokurwes, of wat streng kripto-regulasies bekendstel, is onder die sterkste voorstanders van blockchain tegnologie. Hul negatiewe houding teenoor die kripto-mark stop hulle nie om die potensiële voordele wat inherent is aan die suksesvolle implementering van blockchain-tegnologie vir regeringsaansoeke te erken nie.

Die blokketting is die benaming van die tegnologie wat die werking van cryptocurrencies ondersteun. Dit is nie die geldeenhede self nie. Dit is net een van die vele dinge wat 'n blokketting kan doen. Die ongekende groei in Bitcoin se prys, sowel as die sukses van Ethereum, Ripple, Bitcoin Cash en ander cryptocurrencies, kan sommige oortuig dat blokketting basies net oor kripto geldeenhede gaan. Die waarheid is egter dat blokkettings meer as 'n virtuele geldeenheid is. Trouens, dit was hierdie idee wat Vitalik Buterin(Ethereum) aangespoor het om 'n nuwe blokketting protokol te ontwerp wat meer robuuste funksies bied as die Bitcoin ketting. Ethereum is in staat om 'n verskeidenheid gedesentraliseerde toepassings en outonome organisasies te ondersteun, en is ontwerp om die gebruikers in staat te stel om hulle eie aplikasies te ontwerp.

Dit is hierdie robuuste funksionaliteit van blokketting tegnologie wat die oog van regerings oor die hele wêreld aangegryp het. Met baie lande wat voortdurend teen mekaar in die innovasie- en tegnologiese vooruitgangsteater kompeteer, wil niemand agterbly nie. Baie regerings bestudeer talle moontlike blokketting-gebaseerde aansoeke vir staatsaangeleenthede of reeds in die proses om sulke aansoeke te toets, alhoewel slegs op 'n klein skaal.

Blokkettings het die potensiaal om die aktiwiteite van die regering te revolusioneer. Die potensiële gebruiksgevalle van blockchain-tegnologie in die regering sluit onder andere die volgende toepassings in:

* Gesondheidssorg
* Nasionale Identiteitsbestuurstelsels
* Belasting en Interne Inkomste Monitering
* Nasionale of streeks Stemmings prosesse
* Veilige Bankdienste, ens.

Sunday, April 8, 2018

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Big Names bring Big money into Crypto!

Once again we observe how easy it is to manipulate crypto market, having a reputation in the world of business and commerce. 

George Soros, who literally 2 months ago was actively criticizing crypto, announced that he would now deal with it. After his first statement the price of bitcoin fell sharply, after the second - it grew. The most interesting thing here is that given the fact that Soros changes his attitude to the crypt like gloves, he can say at least tomorrow that he sold all the crypto-active items and again start to heat crypto.
Last Friday, Venrock forged a partnership with cryptocurrency investor group CoinFund, according to a company official blog post. Venrock represents the venture capital arm of the more famous Rockefeller Foundation. Named after the renowned John D. Rockefeller, Venrock is seemingly following Soros' footsteps by entering the cryptocurrency space. The company is set to provide the Rockefellers with a ready-made list of unique cryptocurrencies the fund already has stakes in. On a tweet Coinfund stated:

"We are excited to partner with @pakman and @Venrock for our work in #decentralization and #blockchain!"

In the meantime, bitcoin domination has stopped around 45%, which does not bode well at all: usually in such a situation (when the domination does not change), overall capitalization is slowly falling. 

Nevertheless, according to the fundamental analysis, everything is in order: in addition to the statement of Soros, the Securities and Exchange Commission (SEC) began to consider the proposals of the two exchange investment funds (ETF). Last month Chris Concannon (CBOE president) wrote a letter to the Commission asking to consider Bitcoin ETF offers as casual, and not as a class of products. In addition, he noted that CBOE has successfully completed several futures contracts and stated that bitcoin markets are developing rapidly and will soon be able to guarantee ETF.

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