BRD: When SegWit? RIGHT NOW!

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Just Posted By MarketRanger https://www.reddit.com/r/Bitcoin/comments/9xp372/brd_when_segwit_right_now/

Apple took a long time to process our app update, but full SegWit support is now available for all BRD users on both iOS and Android! If you have version 3.5 or higher, you can opt-in by going to Menu > Preferences > Bitcoin > Enable SegWit. As we've outlined on whensegwit.com, this new feature is currently opt-in but will become the default for all users in the near future.

For all of you who like technical details:

You may remember we didn't want to add support for P2WSH SegWit, because it would require us to maintain a second HD chain of public keys. As a truly decentralized SPV wallet, syncing a second chain of keys would double the amount of resources required by the user's device when syncing their wallet. And once users start using addresses from a new HD chain, we would need to support that chain forever.

By using Bech32, we are actually able to scan the blockchain for both SegWit and legacy transactions while still only maintaining a single chain of public keys! This alleviates all of the technical challenges mentioned above, and we truly believe it was worth waiting for Bech32 and skipping P2WSH.

If you have any questions or comments, feel free to drop them into the comments below!

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Why Bitcoin Cash Was Never Going to Lose the Hash War With SV

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Just Posted By MarketRanger https://www.ccn.com/why-bitcoin-cash-was-never-going-to-lose-the-hash-war-with-sv/

The cryptocurrency community expected a tight hash power battle between Bitcoin Cash (BCH) and Bitcoin Cash (SV) on November 15. But, with a decisive win and an anti-climactic result, BCH came out the winner. Bitcoin.com, a company owned by Roger Ver, saw its hash rate spike to 4 exahash, easily surpassing the entire computing power

The post Why Bitcoin Cash Was Never Going to Lose the Hash War With SV appeared first on CCN

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Crypto Today: Satoshi Nakamoto Envisioned the Forking Drama 8 Years back, Post BCH Fork Relief in Crypto Market

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Just Posted By MarketRanger https://coingape.com/satoshi-nakamoto-envisioned-forking-drama/

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro.”

  • The BCH fork drama that played out was actually envisioned by Satoshi Nakamoto in 2010
  • As the BCH fork now behind us, the market sees a relief rally

Did Satoshi envision the BCH fork drama right back in 2010?

If someone new to cryptos would have witnessed the BCH fork drama from distance, he would have felt poorly for the crypto industry. But this was very well known, as the great Satoshi Nakamoto had, in fact, predicted the whole drama 8 years ago. According to a post published by Satoshi Nakamoto on June 17, 2010 reply to the post “Transactions and Scripts: DUP HASH160 … EQUALVERIFY CHECKSIG”, Satoshi had said,

If someone was getting ready to fork a second version, I would have to air a lot of disclaimers about the risks of using a minority version.  This is a design where the majority version wins if there’s any disagreement, and that can be pretty ugly for the minority version and I’d rather not go into it, and I don’t have to as long as there’s only one version.

This post clearly puts forward the vision of Satoshi, that when it comes to bitcoin and cryptocurrencies, it’s the idea that carries more weight than the technology and the software. It clearly stated that the miners vote with their hash power, wallet providers and exchanges vote with their code and the market votes with their feet.

Cryptos rally post BCH fork

As the BCH fork now behind us and a lot of coins already sitting on multi-month low, nearly all crypto assets apart from BCH were up over the last 24 hours. It’s good to see things holding up so steadily with everything going on

As the market tries to claw their way up again, a lot of analyst on street analysts are still seeing this downside breakout as an indication that things might go lower, while the long-term players continue to accumulate at these levels.

Source: Coinmarketcap

Let’s wait and watch as we head into the weekend? Any ideas?

The post Crypto Today: Satoshi Nakamoto Envisioned the Forking Drama 8 Years back, Post BCH Fork Relief in Crypto Market appeared first on Coingape.

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Pantera Capital CEO: ‘In a Decade Billions of People Will be Using Bitcoin

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Just Posted By MarketRanger https://www.ccn.com/pantera-capital-ceo-in-a-decade-billions-of-people-will-be-using-bitcoin/

In the words of the CEO of bitcoin investment firm Pantera Capital, Dan Morehead, disruptive technologies usually earn the title ‘category killers’ but in the case of bitcoin it is a ‘serial killer’. According to  Morehead, this is because it will disrupt ‘dozens’ of sectors with the cryptocurrency already having demonstrated the capacity to potentially

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Who Is Charile Shrem?

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Just Posted By MarketRanger https://coindiary.net/who-is-charile-shrem/

Today, Charlie Shrem’s life could be described as balanced. A married man who plans to have children soon, Shrem spends his time reorganizing his portfolio to reduce risk and plan for the future. This tranquil and peaceful life may come as a surprise to those who previously followed the crypto-wizard’s endeavors.  Characterized extreme highs and exorbitant lows, Shrem’s rollercoaster life has been more volatile than the price of bitcoin.

Childhood

Born in November of 1989, Charlie Shrem was raised in a Sephardic Syrian Jewish community in Brooklyn, N.Y.. The son of a jeweler and a stay at home mom, Shrem became acclimated to handling money and understanding the value of a dollar at a young age. Shrem recalled from his childhood that “[My parents] didn’t do anything to excess. They never just said, here’s a bunch of money do whatever you want… I had to be accountable for it… If I spent [my allowance] they wouldn’t give me more.” This austerity, combined with the rapidly growing price of his computer hobby, forced him to find a solution.

Shrem displayed a penchant for entrepreneurship at a young age. Utilizing his rapidly developing technological skills, he established himself as a local tech guru and began charging for his services. “People had computer issues at home … they didn’t know how to fix. And I realized that I can provide a good service just being someone that they [could] call on demand and I charged … 20 bucks an hour.” Shrem had so much success in his new business that he purchased his own car as a high school junior with absolutely no help from his parents.

Shrem’s initial financial success proved to be fleeting. Just one year later upon turning 18 years old, he received a credit card with a $6,000 spending limit. Thrilled with his new available funds, Shrem blew through them in a year, with a number of purchases that he characterized as “Just stupid things. Stupid things.” By the time he graduated, Shrem had racked up an astonishing $10,000 in debt. Although his father helped him restructure his debt, it still took him approximately two years to get himself back on track financially. This would prove to be the first of several boom and bust cycles that were emblematic of his previous turbulent lifestyle.

College Years

While a student at Brooklyn College, Shrem began working towards establishing his financial independence. In an effort to climb his way out of five figures of debt, Shrem diversified his portfolio and sought new ways to generate revenue. One of his first endeavors was the creation of the website dailycheckout.com, where he sold refurbished and used electronic equipment, pocketing $600 a week.

Shrem’s entrepreneurship continued throughout his years at Brooklyn College. As a college senior in 2011, Shrem began investing in Bitcoin while it was still in its infancy, before he lost his digital assets after the failure of his storage device. Owing to this event, Shrem and fellow Bitcoin enthusiast Gareth Nelson partnered to launch BitInstant, an ecommerce website designed to “help people convert dollars into Bitcoin.”  BitInstant became an immediate success; at one point in time, BitInstant was responsible for approximately 30% of all Bitcoin transactions. Through this new company, Shrem acquired a significant amount of wealth, claiming that at 22 years old he half a million dollars sitting in his checking account. BitInstant marked a considerable upswing in Shrem’s life.

Charlie Shrem Bit Instant

Charlie Shrem while running BitInstant

In addition to his entrepreneurial endeavors, Shrem was a founding member of the Bitcoin Foundation, alongside other notable cryptocurrency advocates such as Roger Ver. The Bitcoin Foundation is a nonprofit corporation dedicated to the “[standardization], [protection], and [promotion]… of bitcoin cryptographic money for the benefit of users worldwide.” In particular, Shrem was responsible for leading the partnerships and mergers of Fundación Bitcoin Argentina, Bitcoin Embassy of Canada, and Bitcoin Association of Australia, all in an effort to spread the gospel of bitcoin. Modeled on the Linux Foundation, the Bitcoin Foundation carries out its mission through grants from for-profit companies that utilize bitcoin technology.

Fall From Grace

Before long, Shrem and BitInstant began attracting unwanted attention. Shrem was notified by his lawyers that a BitInstant user was buying and flipping bitcoins on Silk Road, the illegal online black market. On the advice of his lawyers, Shrem and his associates shut down BitInstant on July 3, 2013. Because nobody lost any money, Shrem assumed that this was the end of the case, and moved on with other business ventures.

Charlie Shrem

Charlie Shrem a month before Arrest

Eight months later, Shrem’s quality of life plummeted. After returning to the United States from a convention in Amsterdam, Shrem landed at JFK Airport, only to find agents from the Drug Enforcement Administration and the IRS waiting for his arrival. Authorities held Shrem directly responsible for Robert Faiella’s scheme, and the following morning, Shrem learned the extent of his charges: one count of conspiracy to commit money laundering, one count of failure to file a suspicious activity report, and one count of operating an unlicensed money transmitter.

All together, one of the first crypto millionaires was looking at 25 years in jail; ultimately, he ended up serving one year in prison, and was released in June 2016.

Release From Prison

Charlie Shrem left jail as a changed man. Upon his release, Shrem worked on reintegrating himself into society. Initially a struggle, Shrem did not return immediately return to his previous lifestyle. Shrem recalls that for he “…didn’t actually turn on a computer for two months… I didn’t get a cell phone and I didn’t turn on my iPhone… I was weird… I wasn’t ready.” Instead, Shrem took a low-key job in rural Pennsylvania, washing dishes for eight dollars an hour. Recalling this period of his life, Shrem said that he needed to be accountable, and spoke of how much he valued this time.

Conclusion

Currently residing in Sarasota, Florida, Charlie Shrem’s serene life is far removed from the chaos that defined his life in Brooklyn. Imbued with a new perspective on life, the Shrem of 2018 is thoughtful and grounded. Speaking of his wealth, the person who once had half a million in a checking account said “…I got to be smart. I’m getting married, we’ll have children eventually, I can’t, you know, I can’t speculate with my rent.”

Charlie Shrem

Charlie Shrem Today

Today, Charlie Shrem occupies himself with a number of new ventures. In October of 2017, Shrem founded CryptoIQ in Sarasota, Florida. A comprehensive stop for financial sources in the crypto industry, CryptoIQ and Shrem’s mission is “… to empower people by providing access to the world of Crypto.”  Shrem continues to advocate for wider adoption of bitcoin.

Wise and mature beyond his years, Charlie Shrem is the sum of admittedly disparate parts. As a part of the first generation of individuals who adopted bitcoin, Shrem’s ingenuity and foresight paved the way for future users. Despite his previous mistake, Shrem’s continued presence in the crypto-community will continue to add credibility to the community and foster growth.

 

Also Read: Charlie Lee One Of The Most Popular Crypto Clelebrities

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Japan Wants to Regulate Crypto Wallets, Breach of User Privacy?

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Just Posted By MarketRanger https://www.newsbtc.com/2018/11/16/japan-wants-to-regulate-crypto-wallets-breach-of-user-privacy/

Crypto wallet users in Japan may have to reveal their identities as the country’s top financial watchdog prepares a law for it.

The Financial Services Agency (FSA) on Monday revealed its plan to regulate cryptocurrency wallet providers, ItMedia reported. The decision came during a cryptocurrency study group meeting after concerns over money laundering and terrorist financing were raised. The agency also looked into pressing matters related to the protection of crypto wallet users that remain mainly exposed to cyber attack and infrastructure failures.

FSA didn’t finalize the details of how and when the new regulation would appear as it shapes up. However, the agency revealed that it would be in line with the FATF-led international standards for preventing money laundering and terrorism financing laws. In a near-term scenario, cryptocurrency exchanges, wallet service providers and ICO companies will have to register with the FSA to continue their operations in Japan.

Categorizing Wallets

As it went ahead with the proposal to regulate crypto wallets, FSA also mentioned how it may categorize the wallet services according to their predefined standards. The current laws draw a stark line between businesses that engage in purchasing and selling of assets, and those that manage and transfer assets for customers.

As of now, the wallet companies in concern are mostly crypto exchanges that hold customers’ assets for them to ensure smooth liquidity as they trade. On the other hand, a wallet software or a hardware wallet does not necessarily hold the users’ funds. Instead, these services allow users to have a full ownership of their crypto assets by enabling them to create private keys. But yet they manage payment transfers, which could bring them within the purview of the FSA.

Bitcoin wallet service Blockchain.info, for instance, might not be facilitating trades but to Japan regulator, they are still assisting in the management and transfer of the digital currency.

The FSA meeting, as reported by ItMedia, this time focused only on service providers – mainly exchanges and crypto custodian services. It kept software wallet developers and hardware wallet manufacturers out of the discussion agenda – at least for now.

Breach of Privacy

Proper enforcement of the FSA law, which may include even the essential wallet services, could make these companies seek identification requirements from their users every time they make a transaction. And as the act would specifically concern wallet companies working inside Japan, users could end up practicing regulatory arbitrage by downloading wallets from elsewhere – using VPNs.

A crypto wallet nevertheless remains a self-opened, self-regulated bank account. A crypto user does not require any third party custodianship to protect his/her digital assets. Instead, s/he holds private wallet keys to prove full-ownership. Even if they opt to choose an open-source wallet, say CoPay, it would be doubtful – and illogical – for them to seek individual approvals from the FSA.

At most, it would be up to the crypto users whether they wish to be regulated or not. That is the beauty of cryptocurrencies, anyway.

The post Japan Wants to Regulate Crypto Wallets, Breach of User Privacy? appeared first on NewsBTC.

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Bitcoin Price Analysis: Yearly Support Breaks as Bitcoin Tests Underlying Demand

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Just Posted By MarketRanger https://bitcoinmagazine.com/articles/bitcoin-price-analysis-yearly-support-breaks-bitcoin-tests-underlying-demand/

Bitcoin Price Analysis

After months and months of consolidation, the yearly support finally broke and now bitcoin has found itself in the lower $5000s for the first time since 2017:

fig1Figure 1: BTC-USD, Daily Candles, Broken Support

Bitcoin managed to drop a staggering 16% yesterday as the market sliced through the long held support like a knife through butter. The high volume and wide candle spread does not bode well for the bulls as we are currently witnessing an excess of supply in the market. We have blown through two levels of support and haven’t seen a significant retest just yet:

fig2Figure 2: BTC-USD, Daily Candles, Support Levels (shown in blue)

Figure 2 shows the next levels of support below us, but it seems for now we are content to consolidate at the $5400 level. The $5400 is pretty interesting because that is when the market went from being parabolic to *super* parabolic as the market took off on what’s referred to as a “hypodermic trend.” It’s when the market experiences parabolic blow-off toward the end of its parabolic cycle and the market actually breaks north of its parabolic curve. Almost one year to the day, we have found ourselves positioned at the exact same price it was previously. It was this time last year that we saw the major leaps and bounds in price as the market accelerated upward, following a strong round of media coverage over the winter holiday season.

Something quite alarming for the bitcoin bulls is this massive descending triangle that broke downward yesterday:

fig3Figure 3: BTC-USD, Daily Candles, Descending Triangle (shown in red)

Over the entirety of 2018, the market consolidated in a pattern called a “descending triangle.” Typically, if a triangle breaks downward, it will be seen as a trend continuation to most traders and they are likely to short the asset. In our case, the trend continuation would be a downward continuation. It’s unclear where the actual market will lead, but the blue levels outlined in Figure 2 and the 78% Fibonacci retracement shown above are likely to entice some of the more patient bulls that sat out most of 2018. It’s still very early to tell whether the market will see a strong continuation or if the market is just attempting to find its floor. We will know more with the weekly close.

Summary:

  1. The yearly support finally broke down as bitcoin shoved down a staggering 16% in one day.
  2. The move is still fresh, but the market is attempting to test support as the bulls decide whether they want to start a strong round of buying. One thing is clear though: Supply is very present.
  3. The breakdown of the descending triangle shown in Figure 3 is a sell signal for traders, as it typically is a sign of a trend continuation. The breakout is still fresh, so we will need to check back on the market to gather further insight.

Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.


This article originally appeared on Bitcoin Magazine.

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Coinbase CEO Becomes Latest Crypto Billionaire

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Just Posted By MarketRanger https://news.bitzamp.com/coinbase-ceo-becomes-latest-crypto-billionaire/

Brian Armstrong, the CEO of Coinbase, has joined the crypto billionaires’ club. A recent funding round has valued cryptocurrency startup Coinbase at $8 billion, making its CEO, Brian Armstrong, worth $1.3 billion USD. The 35-year-old graduate of Rice University currently serves as co-founder and CEO of Coinbase, the largest cryptocurrency exchange in the United States. With the

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Dogecoin Price Starts Surging as $0.003 is Within Reach

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Just Posted By MarketRanger https://nulltx.com/dogecoin-price-starts-surging-as-0-003-is-within-reach/

NullTX Dogecoin Price Surge

Even though most of the top cryptocurrencies continue to struggle right now, one has to look well beyond the top five currencies at all times In the case of Dogecoin its value has soared pretty nicely in the past few hours, and it seems the push to $0.003 is still in effect. That is pretty interesting to keep an eye on, especially when considering how so many markets continue to struggle first and foremost.

Dogecoin Price Makes Some Good Moves

It is always refreshing to see how things evolve in the cryptocurrency world. Although most people tend to overlook Dogecoin in this regard, it is advised not to ignore this altcoin too much. More specifically, Dogecoin is looking rather healthy given the current circumstances, whereas the rest of the top 25 looks to be on rather shaky legs first and foremost. Diversification is key in this industry at all times.

https://files.coinmarketcap.com/static/widget/currency.js

Over the past 24 hours, the Dogecoin price has been able to regain some of the previous losses with relative ease. A healthy 5.5% gain in USD value and a 6.5% leap over Bitcoin paint an interesting future for DOGE, even though it still doesn’t have much trading volume. For a coin which recently saw its market cap hit $700m and is now valued at $340m, Dogecoin once again proves to be extremely resilient first and foremost.

There are a fair few interesting discussions pertaining to Dogecoin across social media. TradinginTime seems to be convinced Dogecoin is on the verge of entering its buy zone, although this chart was posted after the recent price increase. It is evident traders hope to score some good profits by using Dogecoin, as the other markets have not been extremely helpful throughout most of 2018 in this regard.

https://platform.twitter.com/widgets.js

It is also interesting to note how many people rely on various “metric’ to determine how the cryptocurrency industry may evolve moving forward. In the case of EmptybeerBottle, watching the Dogecoin price seems to be the go-to solution. It is evident that can work out quite well, as Dogecoin has a tendency of completing atypical price movements, which are usually mimicked by other currencies later on.

https://platform.twitter.com/widgets.js

Dogecoin would not be the meme currency of the internet without a portion of good memes. A wild Dogecoin maximalist has been spotted in this wild, according to Shibatoshi Dogomoto. A very thicc DOGE indeed, although it seems to be somewhat happy with the way the price is evolving right now. Another quality meme for the Dogecoin community.

https://platform.twitter.com/widgets.js

Unlike other cryptocurrencies, Dogecoin is doing a lot of things right at this time. This further confirms the currency should not be ignored whatsoever, albeit it is evident drawing any conclusions right now would be a bit premature. At the same time, there is a good chance the Dogecoin price will return to $0.003 sooner rather than later. That would be a bullish signal in its own right.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

The post Dogecoin Price Starts Surging as $0.003 is Within Reach appeared first on NullTX.

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