Is Facebook On The Cusp Of Bitcoin Adoption?

How many times have we heard Facebook mentioned within the cryptocurrency space this year? It seems that Facebook are intent on inciting a bit of a blockchain revolution, though still, none of us really know exactly what Facebook intend to do here. Do they want to move their social network onto the blockchain, or are they looking at the adoption of Bitcoin? Moreover, do Facebook want to create their own coin?
So many questions, yet as it stands, so few answers.
Facebook, in crypto
The first major piece of news regarding Facebook within the crypto sphere came early in 2018, when Facebook announced that they would be banning all forms of cryptocurrency advertising in an attempt to crack down on fake ICO and scam advertisements that had been designed to trick people into giving their own cryptocurrency away. Indeed, this whole culture has been a huge problem through 2018, with fake Ethereum giveaways and fake ICO’s launched on a daily basis. In order to crack down on this and to protect their own customers, Facebook decided the best action to take, would be totally ban all forms of cryptocurrency and blockchain advertising.
This was met with disgust within the cryptocommunity – why stop all forms of advertising when lots of legitimate ICO’s and companies rely on Facebook to communicate with their audience?
In the world of tech companies and social media however, this was met with some form of unified agreement, that then went on to allow Twitter and Google to do the same – totally ban all forms of cryptocurrency advertisement.

This was then the general consensus for a number of months. Some companies managed to bypass the rules by not using certain buzzwords in their advertisements, so, for example, many companies advertised ICOs through Facebook, Twitter and Google, by using words such as ‘digital money’ as opposed to cryptocurrency, though overall the ban did seem to achieve the goals these companies set out to achieve – a reduction in the occurrence of crypto scams on their platforms.
A change in the rules
Out of the blue, Facebook then went ahead and changed their own rules, totally lifting the ban a few months later and introducing a new and more regulated approach to cryptocurrency advertising. This, still involves the ban of ICO advertising, however Facebook now allows crypto and blockchain companies to advertise their products and services within reason. As you might have guessed, Twitter and Google soon followed suit.

Not only did Facebook go back on their original ban, they also announced the appointment of a new blockchain department within the upper tiers of Facebook management. The department, now known as the ‘Experimental Blockchain Group’ was announced in May 2018 and includes a team of blockchain experts, as well as Facebook professionals all of whom are working towards experimenting in and developing blockchain technologies for the Facebook brand. Upon this announcement, Facebook also announced the appointment of David Marcus, a member of the Coinbase Board of Directors who now leads the Experimental Blockchain Group.
More experts recruited
Now, as the year continues and as we edge closer to 2019, we are seeing more blockchain experts recruited into Facebook than ever before. According to Sludgefeed, a new job listing is live within the company that is offering five new positions, working in all areas of blockchain research from science, to engineering and marketing. The listing states:

“The blockchain team is a startup within Facebook, with a vision to make blockchain technology work at Facebook scale. We’re exploring areas of interest across all facets of blockchain technology. Our ultimate goal is to help billions of people with access to things they don’t have now – that could be things like equitable financial services, new ways to save, or new ways to share information.”

Of course, the listing does not suggest that Facebook are turning to Bitcoin integration, nor does it disclose that they are looking to develop their own FacebookCoin, however there’s no harm in speculating around what the implications of this could mean.
According to Sludgefeed:

“Given the massive userbase across Facebook and Instagram, a FacebookCoin could function as the ultimate utility token, but trust in the company may ultimately hinder its long-term success in achieving a decentralized platform or currency.”

Frankly, we agree. A FacebookCoin would be huge, simply based on the sheer size of the Facebook network. With so many users of Facebook actively using Facebook products on a daily basis, we can safely assume that a Facebook based utility token would be easily adopted, on a huge scale too. However, as the quote stipulates, since Facebook are a massive corporation, could the crypto community really trust in a FacebookCoin, given that it probably won’t be very decentralised overall?
In all honesty, we don’t know what will come from this area of Facebook. Bitcoin adoption is a strong possibility, however for now we expect an announcement along the lines of a migration of data onto the blockchain, as opposed to the integration or the creation of an actual cryptocurrency. Over time though, as crypto on the whole becomes more mainstream, Facebook will need to get in there first in order to continue to be seen as a technologically advanced and forward thinking company.
So, no, Facebook will not adopt Bitcoin in 2019, however, ask the same question again in a couple of years time and we could expect to see so much more than just Bitcoin go live on Facebook. Bitcoin, XRP, Ethereum, FacebookCoin?
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Exciting News For TRON TRX, XRP & Litecoin

‘Crashing market’, ‘falling values’, ‘lost investments’, are all familiar sounding buzzwords, right? In times of financial meltdown, we always try to remain positive and say that ‘don’t worry, the markets will recover from this’ and it is often hard to do so. However, in keeping with that trend, know what this market crash will not last forever, surely, a recovery can’t be far away now?
When the markets fall in this way, good and positive news really does stand out away from the FUD (fear, uncertainty and doubt) that plagues the headlines. Thankfully, in order to inject a little bit of happiness into your weekend, we have hand picked some of the standout positive news stories of the week. Know that just because the markets are retreating, it doesn’t mean cryptocurrency project shave given up. If anything, this period of downtime is allowing crypto projects to knuckle down and to continue progressing in time for the next bull run, whenever that may be.
TRON TRX, Ripple’s XRP and Litecoin have all hit the headlines this week. Relax, whilst we explore what’s happened in order to keep you up to date.
Before we begin, please do note that although now looks like the perfect time to buy, cryptocurrency investment is very risky. If you decide to invest in any of the following cryptocurrencies you should always do so based on your own research. Only invest what you can afford to lose.
TRON is no stranger to headline breaking news. Once again, this week, TRON has made more positive movements and continues to assert itself as one of the best looking cryptocurrency projects moving into 2019. For the first time in a number of months, the native token to the TRON platform, TRX, had moved up the rankings to became the tenth biggest cryptocurrency on the 6th of December 2018. The increase in the market cap of TRON, seems to have done the complete opposite to that of it’s biggest rival, Ethereum, which has had a shrinking market cap for a number of weeks now. Formerly referred to as the ‘second’ biggest cryptocurrency in the world, Ethereum now sits in third place.

Not only has TRON been in the news for creeping ever closer to Ethereum, the TRON blockchain has broken headlines this week for breaking yet more transaction records. It’s common knowledge that TRON can handle more transactions on it’s blockchain than Ethereum, in a short space of time, however, as time goes on it seems the gap between the two is ever growing, with TRON showing it is capable of far more than Ethereum.
Ripple XRP
Once again, Ripple XRP has been in the news. This is hardly a rare occasion. As the second biggest cryptocurrency by market cap, you should expect to be reading about XRP on a regular basis, however, news out on the 6th of December pointed us all towards a very exciting new announcement that see’s XRP selected as the first cryptocurrency to be used by the growing universal payment settlement platform, R3.
R3 are the team behind Corda, this is exactly where XRP will be utilised as a currency, within the Corda blockchain. The CTO of R3, Richard Gendal Brown has commented on R3’s move, stating that:

“The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together.”

This is a prime example of XRP adoption, not as a cryptocurrency that is being used in brick and mortar stores, but as a token that has a real use value on a corporate and institutional level. XRP was never designed to be used by you and me from the outset, rather, XRP was designed to solve the problems faced by many major financial institutions. This latest news seems to suggest that Ripple are doing just that.
Unlike XRP and TRX, Litecoin rarely breaks headlines. This seems to be down to the fact that sadly, there has been very little movement from the Litecoin Foundation recently and within the Litecoin network. Of course, development is still on-going but overall, the project has been a little quiet, as it has been since the failure of Litepay earlier on in the year.
Even so though, Litecoin has broken the headlines this week, all thanks to the movements of one Litecoin whale.
You might be wondering what a whale is? Well, according to Investopedia:

“A whale is term in the cryptocurrency world used to refer to individuals or entities that hold large amounts of cryptocurrency. Whales could also have a disproportionate impact on prices, fueling speculation that some of cryptos recent wild price swings were due to price manipulation by the whales.”

This week, one such whale on the Litecoin network moved around 60% of the entire Litecoin market (35 million Litecoin) in the biggest Litecoin transaction since February 2018. The identity of the whale is of course a mystery, however it is confirmed that this sole user now owns around 15% of all Litecoin.  This isn’t exactly good news, but it could go some way into helping control the volatility of Litecoin in the coming weeks and months.
As the week draws to a close and as we creep closer to the new year, we must start to ask ourselves what is coming next for crypto. Things feel a little tense at the moment, as if we are on the edge of something big. With this in mind, keep your eyes on Crypto Daily to ensure you never miss a beat. We’ll be here with the breaking news when you need us!

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The Huge Coinbase Experiment

Yesterday, we saw a huge announcement from the leading cryptocurrency exchange in the United States, Coinbase, who are now embarking on a year long study that aims to totally transform the way users of blockchain technology control their data and personal information.
One of the biggest ironies in cryptocurrency is that whilst transactions are anonymous and hidden in most instances, the actual buying of cryptocurrency through registered exchanges like Coinbase require users to give up a lot of personal information, including images of their Passport or identification, as well as giving up contact details and in some instances, even bank details.
Also known as ‘Know Your Customer’ the problem here is that signing up to exchanges is time consuming and quite complicated. Once a user submits this information, it then needs to be checked out for legitimacy, so often it can take days for an application to use an exchange to be approved, assuming you meet all the stringent anti-fraud checks.
Another issue this presents is that exchanges and wallets then need to securely store all of this personal information, meaning they are vulnerable to data hacks going forward. This, is a concern for the exchanges themselves and their customers. Data handling is a hugely sensitive subject in the news at the moment, we only need to look as far as Facebook and Cambridge Analytica to see why too.
So, it really is within the best interests of Coinbase to try and simplify this whole procedure, whilst adhering to important anti-fraud checks and laws. This is where blockchain technology comes to play.
Coinbase Experiment
First reported by CoinDesk, Coinbase have established a research team, led by B. Byrne, the Product Manager of the Coinbase identity team. Byrne and the team wish to simply allow internet users to own more of their own identity online, so this moves past just their own customer base and seems to have implications for a far wider audience too.

The team will be exploring the use of decentralised applications within the blockchain in order to build bridges between Coinbase products, the exploration of dApps will build the backbone for this study. According to CoinDesk:

“In Byrne’s mind, the best way to start lies in identifying a small segment of Coinbase users who would gain real value from controlling more of their personal data, rather than Coinbase repeatedly collecting and storing their know-your-customer (KYC) information across the platform’s products. Over the next 12 months, Byrne said his team aim to scale these experiments from just a few users to a meaningful group of dapp users. In addition to tech-savvy power users, Byrne said identity solutions could have the most immediate impact for customers that aren’t getting access to things because it’s too hard as is.”

How will it work?
As stated, this experiment is expected to last over a 12 month period, starting with an exploration of Coinbase Wallet users in order to find a suitable demographic to build the research upon. This will then move towards developing and testing a decentralised identity solution that will help benefit that small group of users. Once testing is complete, a final application might then be rolled out within Coinbase products that uses a decentralised applications to allow people to control their own identity checks through the blockchain.
This is more than just Coinbase
As stated, this experimentation phase has big implications for more than just Coinbase, therefore the research team won’t be going at this alone:

“Byrne said his team is talking with projects like the W3C Credentials Community Group. W3C co-founder and crypto veteran Christopher Allen told CoinDesk the group aims to launch a Decentralized Identifiers (DIDs) Working Group in January that can recommend standards through the Massachusetts-based World Wide Web Consortium.”


“Even if Byrne’s team develops identity solutions that reduce cross-platform friction or increase customers’ privacy, these solutions will probably rely on public tools and protocols that exist beyond Coinbase. Without commenting on any specific resources or priorities, Byrne agreed Coinbase would need to commit to keeping the infrastructure for future solutions, healthy. Byrne also expressed curiosity about how Coinbase could someday take a more active role in community efforts.”

What will come of this?
Well, this is where we are left to speculate, as Coinbase have not yet made clear what will come of this experiment. I suppose as with any experiment, they cannot predict the results so therefore, the current hypothesis from Byrne et al. is rather vague. The team are expecting to develop some sort of decentralised identity management solution that will give users far more control of their personal data, though the full scope of this solution is yet to be understood.
In an ideal world, we imagine a dApp being created that can be used to verify a users identity across an unlimited number of platforms, by simply just entering a private key, or a block address or something similar. This would be fantastic and would do great things for the adoption of cryptocurrency and most importantly, for the confidence of those in the industry that have to tackle data handling issues on a daily basis.
We’ll keep our eyes on this one, it’s a very exciting prospect with some huge real world implications to look forward to.

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New Techniques Deployed To End Bitcoin Pump & Dump

With the markets sitting in a very volatile state, the risk of a large pump and dump is at an all time high. Simply put, falling Bitcoin prices means that investors are currently very vulnerable. Realistically speaking, since a large majority of the Bitcoin market is owned by a minority of wallets, investors can get together to buy in bulk and then sell in bulk in order to pump and dump. The benefits of this are simple – they control the majority of the market so can buy at the best price, and can agree a time to sell, at the best price.
Does that make sense?
Here’s a more conclusive description of a pump and dump according to Investopedia:

“The scheme can be perpetrated by anyone with access to an online trading account and the ability to convince other investors to buy a stock that is supposedly ready to take off. The schemer can get the action going by buying heavily into a stock that trades on low volume, which usually pumps up the price. The price action induces other investors to buy heavily, pumping the share price even higher. At any point when the schemer feels the buying pressure is ready to fall off, he can dump his shares for a big profit.”

Okay, so a pump and dump within Bitcoin is possible, however it would be very difficult to execute, this is why generally speaking, pump and dump schemes refer to the lesser known and newer cryptocurrencies. The companies and investors behind the coin can retain overall control, ensuring that once they have finished, they can sell at the best price, ensuring they get the highest profit possible.
According to The Next Web, researchers from Imperial College London have developed a new programme that uses artificial intelligence to predict when pump and dump schemes might be happening. The implications of this are frankly huge, especially when you consider how this might encourage the authorities to respond.

The research
This new system has been developed as a result of research by Jiahua Xu and Benjamin Livshits, who have analysed message history across 358 Telegram accounts between July and November this year. Through their analysis, the pair located 220 different pump events that had been arranged through the various Telegram groups – i.e. people within the groups have been working together to manipulate the price of different cryptocurrencies.

Through this, the research then moved on to helping the pair decide which sort of events and occurrences could lead to a Telegram led pump and dump, which in turn has been used to develop a model that can predict the likelihood of further pump and dump events.
According to The Next Web:

“The researchers uncovered an alarmingly high number of pump-and-dump schemes. Xu and Livshits state that there are over 100 Telegram channels dedicated to the pumping and dumping of lesser known coins, these channels organize these events twice a day, on average. The researchers estimate this contributes $7 million of artificial trading volume to the cryptocurrency market each month – that’s $84 million per year.”

As stated, the research pair found an alarming number of pump and dump events just through analysing Telegram groups over a short period of time. From this, it was then compared with other market data in order to determine if the events had any impact on the markets. This, then led to recommendations that would in turn be implemented into the programme that is now able to predict when these events could happen, with up to 80% accuracy too.
Referring to The Next Web once more:

“After the algorithm had been taught what to look out for, it was unleashed on the world. In the week between October 30 and November 6, 2018 it found six instances of suspicious “pump-and-dump” like activity, it was correct on five of these cases. Of course, a much longer and broader application of this algorithm needs to be used to truly understand its power. This study only focused on four cryptocurrency exchanges, as such there is the possibility that the trading characteristics on other exchanges might not fit the model.”

This programme is by no means a final project just yet, however it does have the ability to grow and develop over the coming months. The research team now hope to shrink that 20% error rate and make the platform as accurate as possible.
This new system could grow to the point that it is able to totally abolish even the notion of a Bitcoin pump and dump. If this does happen, it could be the first step in ensuring the markets mature and become less volatile, something that we all need to see before Bitcoin has any real chance of seeing mainstream adoption in the coming years.
Source: Crypto Daily

Waves Reaches The Moon After Latest Update

Waves, the team behind the (believe it or not) WAVES cryptocurrency have announced a new update to the Waves Mobile Wallet, in a move that has seen the value of WAVES absolutely sky rocket.
What is the Waves Platform?
Waves is an easy to use platform that allows users to issue, store, manage, trade and analyse digital assets within the Waves decentralised exchange. Waves of course, also facilitates the use of the native WAVES token, as well as other tokens. According to the Waves Platform website:

“Thousands of other kinds of tokens have also been released on the platform, many of which have gone through an ICO and have huge potential. We support fiat money ($, €) as well as cryptocurrencies such as bitcoin, ethereum, ethereum classic, and more. The list is constantly expanding.”

The Waves wallet also facilitates leading and cryptocurrency mining:

“Any sum of Waves can be leased to miners to generate interest. You can refund at any time in 2 clicks.”


“Waves uses a proof-of-stake algorithm. To start mining, all you need to do is to download and launch the node, and have 1,000 WAVES in your wallet.”

Waves also supports other ICOs and allows new cryptocurrency projects to take measures to raise funds for the development of their products and projects, simply by just releasing their own tokens onto the Waves Platform:

“By releasing blockchain tokens, you provide valuable services to network users, such as the possibility of transferring value in the form of certain convenient units, therefore attracting funds for the development of your project. By holding an ICO not only do you receive money for development, but you also gain loyal users for your product who believe in the project and are ready to become its first followers as well as give honest feedback.”

Waves Update
As we have stated, the Waves team have recently announced a new update to the Waves Mobile Wallet that seems to have had a huge impact on the WAVES cryptocurrency. This update has been in the works for a while, with Waves users and investors working speculating about future improvements that could be made to the system. Though the Waves wallet app has been around for quite a long time, the Waves team are constantly developing and improving it.

According to the official Waves announcement:

“The Waves mobile app has been available for some time. While it did the job in enabling users to connect to the network and make transactions, we always knew there was much more we could do. The Waves platform is so powerful, and it would be a shame not to make that available for mobile users — who number 207 million in the US and an incredible 1.02 billion in China.”

This update comes in the form of a brand new mobile application that still includes all of the old features that made the first app so popular. The app includes a wallet, the option to trade within the Waves decentralised exchange and of course, let’s you review current prices and figures etc. Within the app, users can access both FIAT and cryptocurrencies and within the wallet specifically, can deposit, store, trade and withdraw, as one might expect.

“We’ve incorporated the most popular digital asset management tools from the platform, so you can send tokens to your address book contacts, lease your WAVES, receive warnings about suspicious tokens and burn any spam assets you don’t want.”

It is clear that Waves believe this new app is going to make a very big impact for all users of the Waves Platform. Here are some of the advantages to the latest app, as highlighted within the official Waves announcement:

“All traffic is encrypted. That’s hugely important for both privacy and security, and as far as we’re concerned it’s non-negotiable. Private keys never leave your smartphone and are never exposed to the web. They’re encrypted and stored locally, so you can use the app with confidence. Moreover, it supports a range of further security measures, including Face ID, Touch ID and Fingerprint scanning. Basically, when you think of how a crypto app should operate in an ideal world to keep your money safe — that’s what we’ve done.”

If you’re a Waves user, we would recommend that you head to the App store or the Google Play store now to ensure you don’t miss out on the latest update, and to ensure you don’t miss the buzz surrounding the launch of the latest Waves project.

This latest update is very significant for the adoption of the Waves Platform as it makes Waves a far more interactive place for traders, investors and crypto fanatics alike. By incorporating the majority of the entire Waves business into an easy to use smartphone application, Waves are simply making their project far easier to adopt, opening up the Waves Platform to a very wide demographic.
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Dogecoin’s Beef With XRP

Dogecoin (DOGE) is known as the world’s first meme-coin, based on the very popular (or arguably unpopular), Doge meme (see below).

Image Source – Know Your Meme
What is Dogecoin?
According to the Dogecoin website:

“Dogecoin is a fun, new and rapidly growing form of digital currency. Dogecoin is used with a wallet on your computer, your smartphone, or a website. You can use it to buy goods and services, or trade it for other currencies (both other cryptocurrencies or traditional currency like US dollars). One of the most popular uses for Dogecoin is “tipping” fellow internet-goers who create or share great content. Think of it as a more meaningful “like” or upvote, with real value that can be used all across the internet.”

Led by the Dogecoin Foundation, a not-for-profit organisation that uses Dogecoin to promote charity and community online, through the use of cryptocurrency, so despite the currencies quite funny origin, Dogecoin is built upon serious foundations with a real view to democratise the internet. The Dogecoin community are known for their friendly attitudes towards collaboration, though as the Dogecoin Foundation states, they still wish to see their coin hit the moon:

“We all wish Dogecoin will reach the moon, may that day be sooner or later. But it all starts with what us, the community, can do. The Dogecoin Foundation helps promote Dogecoin, so more and more people know about it and we can get it in the hands of more shibes. Think of us as the ‘backend’ of the Dogecoin community.”

Dogecoin in the news
Despite Dogecoin’s community appearance, the founder of Dogecoin – Jackson Palmer is known as one of cryptos more outspoken characters. Not too long ago, Palmer released a script that allowed people to block fake Ethereum ‘giveaway’ accounts on Twitter, meaning that those who ran the script would no longer see any tweets related to themselves and fake Ethereum giveaways. Now, according to a recent tweet by Palmer, he has adapted the script to silence the XRP community.

In his tweet, Palmer states:

“You can find my simple script to automatically block XRP accounts that slide into your mentions @ … – I call it XRP Away”

Palmer continues:

“Make sure you don’t reply to or mention me if you have ‘XRP’ in your profile name, handle or bio. Because this will block you. Signal to noise ratio has already improved greatly.”

Why has Palmer created this script?
Palmer has been very vocal about his views on XRP in the past. As we know, he had already created a script to block Twitter accounts that had engagement in scam Ethereum giveaways. By adapting this script, Palmer has been able to block XRP accounts as a result of a backlash he has faced on Twitter as a result of his negative XRP comments. According to Ethereum World News:

“The move came as a result of XRP enthusiasts counter-replying and storming him because of his negative comments made recently towards Ripple’s XRP. The latest script before being transformed into an open-source code, was used as a ETH scam bot blocking script. Elon Musk called Mr. Palmer for help to fight the spammers which targeted Musk for months.”

In short, Palmer has said some bad things about XRP on Twitter, the XRP community have reacted by spamming Palmer with ‘hate’ and as a result, Palmer has taken steps to silence the XRP community, in the name of transparency he has also made this script available to anyone else who wants it.
Is this an attack on XRP, or another meme-like attempt to get Dogecoin in the news? Whatever the answer, it seems to have worked – Palmer has successfully blocked the accounts that are causing him problems and DOGE itself seems to have broken away from the overall negative trend within the markets, DOGE is climbing and DOGE is hitting headlines today, so for the DOGE community, this all seems to have gone very well.
It’s a big publicity stunt, at the expense of a rather disgruntled XRP community.
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Is This The New Normal? BTC, XRP, ETH, XLM Find Balance

Is this a good time to suggest that what we have seen today, could be the new normal? Through 2018 we have all pretty much come to terms with the fact that Bitcoin was valued at around $6,000.00. If you asked any investor over the summer, they would argue that indeed, Bitcoin had found balance and as a result, so had the majority of the rest of the markets. Overall, this doesn’t mean cryptocurrencies have lost their volatile streak, as a matter of fact it’s the complete opposite. What we are saying however is that a base level price at $6,000.00 had been found, $6,000.00 was the norm.
Now, many start to believe that this base price has finally dropped, meaning that the current $4,000.00 (ish) value of Bitcoin is the new normal. We could be in this for the long haul. Likewise though, this could be a temporary blip and the norm of 2018 could resume, Bitcoin could move back to $6,000.00 next week, it’s that simple.
So, is this the new norm?
We ask the question because we all need to know what will happen next? Really, there are three possibilities in terms of the value of the likes of Bitcoin, XRP, Ethereum and Stellar. First of all, this could be the new norm and through 2019, the average price of Bitcoin could sit at around $4,000.00, the average price of XRP could sit at $0.35, the average price of Ethereum could sit at $110.00 and the average price of Stellar could sit at $0.15.
The second possibility is that this could be temporary, as the markets wait in anticipation for something bigger and better. With speculation around the looming Bitcoin ETF decision, investors have been trading very carefully and have been pulling value out of the markets simply because they fear what could be to come. As a result of this, values across the market are down, however, assuming much of this speculation comes to a head (for example, a decision is finalised about a large Bitcoin ETF) and of course, assuming all goes to plan, the markets could eventually shoot back up. Now, we’re not talking Bitcoin to $20,000.00 in a day, however a positive move towards a large Bitcoin ETF could see Bitcoin move back up towards $8,000.00, allowing for a more optimistic average price, going into 2019.

The final possibility is the one we really want to avoid – current values could continue to sink. This is most likely to happen if the speculation we are all feeling swings the other way, so, in keeping with the Bitcoin ETF example, if a large ETF application is rejected then indeed, we can only expect the markets to continue to decline. The new normal could in turn be a lot less than we see today.
Remember, this is speculation
There is honestly no way to tell what will happen here. Out of these three positilibites, a forth could arise, such is the volatility of the markets. It’s impossible to pinpoint a ‘norm’ within the markets because let’s face it, cryptocurrency isn’t exactly normal is it? The take home message here is that yes, this does look like a great time to buy, however we should consider that a big price movement could be looming, in any direction too. Therefore, if you do decide to buy, make sure you do your research and make sure you trade safely. Although the markets seem to have balanced out, we are riding on a very exciting but dangerous time for crypto. We’re optimistic that things will go up, but sadly, this is something we can’t ever guarantee.
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XRP, ETH, BNB & NEM Looking Good This Week

It has been another crazy week for crypto investors across the board. The markets have remained in a very volatile position through November, now, as November draws to a close, we are finally starting to see some sort of balance. I say balance… the markets are still very unsteady, at best though I would like to think that the wave of November has now passed. As we enter 2019, we should start to see crypto head back up to more exciting and more familiar territory.
With all of this in mind, the news continues to roll on through and many major cryptocurrency projects have broken headlines once again with advancements in their projects and their technologies. What this proves is that even when things are looking bleak, the brains working behind the scenes to power this industry are constantly working, working hard to achieve goals and working to make their crypto the very best there is. This week, XRP, ETH, BNB and NEM have made an impact.
We have seen XRP hit the headlines this week as a result of a move of a vast amount of XRP tokens, which has broken records for it’s incredibly low transaction cost. One of the things that prides Ripple’s networks is that their fees are kept low as a result of efficiencies within their blockchain, this is now all the more evident according to recent reports.
Bithumb are alleged to have recorded a transaction of 1 billion XRP tokens which moved for a fee of just 0.000012 XRP, but a fraction of the overall transaction amount.
We do see moves like this on a regular basis, each time this happens it proves just how fast, reliable and scalabile the technology that XRP is built upon, really is. Frankly, with these figures in mind, XRP really is starting to look unstoppable.
Likewise, Ethereum has hit the headlines this week. Indeed, recently we have seen Ethereum move down the market rankings as a result of the November cryptocurrency crash. Prior to November, Ethereum was always considered to be the second biggest cryptocurrency as a result of its high market capitalisation. Since November however, XRP has managed to rack up a big chunk of the market and now sits within Ethereum’s second place, leaving ETH to fall down to third place. Even so, this hasn’t stopped Ethereum hitting the headlines once again this week.

A dApp built on the Ethereum network has hit the headlines as a result of their new move to pay out large ETH bounties to people living in the Philippines. This is being carried out to inspire citizens to act fast and clean up polluted beaches in the area. It’s an environmental clean up drive that is having a great impact on the local community in Manila and is also allowing Ethereum to flourish as a bounty token.
The Bounty Network on Ethereum have established this latest incentive to drive the use value of blockchain technology in the Philippines. As reported by Crypto Daily, a spokesperson from the dApp has stated:

“Plastic pollution costs the lives of 1 million seabirds and 100,000 marine mammals per year. Fish eat plastic, and we eat the fish. Plastic causes $8 billion in damage to marine ecosystems each year. With Bounties for the Ocean, we are asking people everywhere to submit verifiable proof of their direct plastic cleanup contribution as a way of fostering widespread and long-term behavioural shift. Do not depend on centralized organizations, go out there and do it yourselves.”

Similarly to the recent XRP news, Binance have reported a huge move of BNB, Binance Coin tokens. Within this, it is alleged that 98,700,100 BNB we’re transferred out of an anonymous Binance wallet for a fee of just $0.03. What does this mean? Well, is BNB placing itself as a true competitor for XRP when it comes to low transaction fees? Maybe so.
The interesting fact about this news is that this transfer has caused a shift of almost all the circulating BNB coins to leave just one wallet, even so though, whatever has happened here proves that with blockchain technology, it’s possible to transact half a billion tokens in less than a minute for a fee of just $0.03.
As the markets turned red and as Bitcoin plummeted, NEM XEM somehow continued to climb earlier this week. The climb eventually settled down, but it didn’t stop the NEM project hitting the headlines as a result of this.
As reported by Crypto Daily:

“It was also recently announced by NEM that they have signed up for a partnership pact with UAE, Ministry of Community Development. For both parties, they will be able to share important information, knowledge and updates on emerging technologies in the blockchain according to to the signed the pact. With this partnership, NEM and MOCD will be connected with citizens of UAE. With this adoption of NEM, the public of UAE will be able to have a closer look at what blockchain is and how it impacts the technical world.”

Now, it does seem evident that this sudden surge in the price of XEM was as a result of a surge in the popularity of XEM and the NEM project within the UAE, though we are pretty sure other positive factors have also played a part in this too.
As you can see, once again it has been a huge week for cryptocurrencies, off the back of what looks to be one of the most crucial months for the markets yet, November 2018.
Crypto Daily Ethereum Giveaway
We have now drawn our first Ethereum giveaway to a close, a winner will be selected on Monday the 3rd of December from a video uploaded between the 15th of November 2018 and the 30th of November 2018. One winner will be selected at random from the comments. Tune in on Monday to see the prize draw.
If you have entered the competition, good luck! If not, then remember it’s not too late to take part, just comment on any video uploaded between the 15th of November and the 30th of November, also, make sure you are subscribed to the channel.
Don’t forget that our latest competition is now live too, head here for all of the details!
Source: Crypto Daily

Introducing Crypto Daily’s CRYPTO REVOLUTION

Hey, What’s happening crypto enthusiasts?
Its Mark here at Crypto Daily with an exciting announcement, as one door closes, another one opens. Yes, we’ve got another big Ethereum giveaway to announce!
Yesterday, we covered an article about the huge increase in Ethereum donations that are being made within the Ethereum network. Simply put, here at Crypto Daily, we want to support that network. As you know, we have been running an Ethereum giveaway through November and now have a new exciting giveaway to announce too!Make sure you check out our coverage of the amazing donations being made on the Ethereum network!
We’d like you to join our CRYPTO REVOLUTION and influence as many of your followers with our current crypto news and insight.
Our goal is to educate as many people about the exciting world of crypto and we want you to be a part of that.
It’s so easy to get started. All you need to do is to sign up up via our Crypto Revolution page and then start RAISING your Crypto Influence.
The more you share with your friends, the more points you unlock. And we all know what points make…..PRIZES!
We will be giving away 3 ETHEREUM to the crypto influencer who has the most points.

The winner will announced via  our website, on January 31st 2019.
It’s that simple crypto influencers…
How to get involved
To start winning points sign up at the link below.
You will be taken to your share page where you have different options to earn big points.
Make sure you bookmark this page to keep track of the leaderboard and don’t forget to leave us a facebook comment to let us know how you are doing!

Please only refer to for official and approved information regarding this competition. One winner will be contacted on January 31st 2019 upon successful completion of the competition. Please do not enter this competition if you are not able to engage in cryptocurrency related activities in your country or place of residence. Entrants must be aged over 18. This competition is free to enter. Please refer to the terms and conditions on the competition page.

Crypto Daily Ethereum Giveaway
As you know, we have been running an Ethereum giveaway via our YouTube Channel over the past two weeks to celebrate us reaching 1K subscribers. Today is the last chance you can get involved!
To take part in our giveaway, follow these simple steps:

Visit the Crypto Daily Official YouTube Channel
Comment on any new video uploaded on our channel between the 15th of November 2018 and the 30th of November 2018.
Don’t leave ‘spammy’ comments, engage in the videos and let us know what you think!
Make sure you subscribe to our channel!

After the 30th of November 2018, we will select one winner at random who has commented on videos uploaded on our channel between the 15th of November 2018 and the 30th of November 2018, we will be accepting comments and entrants through the weekend!
One lucky winner will be selected at random ON MONDAY THE 3RD OF DECEMBER, this will be broadcast in our latest video, subscribe to the channel to make sure you don’t miss out. The winner will be contacted by a member of our team via YouTube.
Get Started Here –
A total prize of 1ETH will be issued to one selected winner from the full contest which will be announced once the Crypto Daily Official YouTube channel reaches 1,000 subscribers. All subscribers will be given a chance to win, but the prize will be limited to just one winner. This giveaway is not in conjunction with any other offers or services. Contestants will not be required to giveaway any personal information during the competition. Please only refer to for official and approved information regarding this competition. One winner will be contacted after the prize draw has been made, upon successful completion of the competition. Please do not enter this competition if you are not able to engage in cryptocurrency related activities in your country or place of residence. Entrants must be aged over 18. This competition is free to enter. This competition is in no way associated with YouTube. Please click here for our Privacy Policy. Please click here for the YouTube community guidelines. Please click here for the YouTube terms of service.
Source: Crypto Daily

Crypto Crash Encourages ETH Holders To GIVE Ethereum Away

The November crypto crash has had a very hard impact on Ethereum. Most famed as ‘the second biggest cryptocurrency in the world’, during the crash XRP flew past ETH, bringing it down to a more humble third place. Indeed, with the full effect of the crash now looming over the markets, Ethereum remains the third biggest cryptocurrency by market capitalisation, no longer second from top.
In terms of value, the crash has had a great impact too, prior to the start of the crash, Ethereum registered values of around $220.00 on a regular basis, although during the depth of the crash, Ethereum dipped below $104.00, losing over 50% of its value in around 20 days, leaving investors a little winded. As a result of this, people have lost a lot of money. Those who bought in recently have surely lost 50% of their investment, those who bought in even earlier when the price of Ethereum was much higher however have lost significantly more.
Even so though, with so much loss in mind, new research has found that during the crash, Ethereum holders have been more generous than ever when it comes to making Ethereum donations. People are literally giving Ethereum away.
According to CCN, WeTrust have carried out some research into the sorts of charitable donations that have been happening within the Ethereum blockchain.
Who are WeTrust?
WeTrust are a United States based blockchain firm that makes the most of blockchain technologies by providing financial services to a range of clients. Whilst research isn’t their primary focus, from recent reports we can see that WeTrust are putting a particular focus on carrying out further research with regards to behaviour on the blockchain. According to the WeTrust website:

“Digital technology has enabled revolutionary changes, yet billions of people around the world remain unbanked, without access to the savings and credit that drives the modern economy. Decentralized money has been created, and Blockchain technology holds untapped promise of providing fair, efficient financial services on a global scale. WeTrust aims to provide decentralized financial services and create a more inclusive financial system which allows anyone to access fair, equitable financial services without an expensive trusted third party.”

According to CCN:

“WeTrust is a blockchain company that allows crypto holders to donate ETH directly to nonprofits. It commissioned the survey by Pollfish in honor of Giving Tuesday, November 27. Its newest platform, WeTrust Spring accepts cryptocurrency donations in Ethereum, although the company has plans to roll this out to other cryptocurrencies in the future. Notably, among the WeTrust advisors are Ethereum founder Vitalik Buterin, and Cornell University professor and IC3 Co-Director Emin Gün Sirer.”

Research findings
As stated, WeTrust have published a number of research findings that suggest Ethereum investors have been very generous in making Ethereum donations of late to various different charities that accept cryptocurrency payments. As much as 77% of the 1,000 investors that were surveyed by WeTrust stated that they have made a charitable donation with their Ethereum. Of the 1,000, 79% admitted that they would rather make a charitable donation with Ethereum than purchase a Cryptokitty, so it seems just 2% of those investors are still yet to donate.
According to CCN, here are the specific findings from the WeTrust research:

“90.5 percent had already made at least one crypto donation to a charitable cause.”

“77 percent are interested in making more crypto donations to a cause that aligns with their values.”

“55 percent say that the crypto community is more generous than the rest of the population.”

“62 percent believe that all charities should accept crypto donations as an easier and more efficient way to raise funds.”
“The number of crypto holders interested in buying a Cryptokitty is still pretty high (71 percent), but that is outstripped by those who would rather donate to a non-profit at 79 percent.”

It seems that the overall falling markets of 2018 haven’t been enough to knock the generosity out of people!
Perhaps the falling value of Ethereum has been able to encourage more people to make charitable donations? Surely it’s far easier to donate Ethereum when it is valued less, as in theory, you’re able to make smaller and more controlled donations. Or even more so, maybe this is evidence that investors really aren’t worried about the falling markets? As a matter of fact, they are so confident in their Ethereum investments that they are happy to just give it away.
Ethereum Adoption
This is a sign of a great level of Ethereum adoption as more and more charitable causes move towards accepting payments in cryptocurrency. Indeed, Ethereum isn’t the only payment option available, however it’s a reliable one and one that seems to be quite popular based on the research published by WeTrust. Charities will play a huge role in the overall adoption of all cryptocurrencies so, I’m pretty sure many charities will be glad to look at this research and see that accepting cryptocurrency donations does seem to make a difference!
Source: Crypto Daily

What You Need To Know About Bitcoin SV – The New Top 10 Cryptocurrency

Fresh faced and eager to impress, Bitcoin SV, or Bitcoin Satoshi Vision is the latest cryptocurrency to enter the markets and has made quite the impact in the process too. Yesterday, Bitcoin SV moved into the top ten cryptocurrencies by market capitalisation after experiencing quite the surge in market cap. Today, Bitcoin SV remains well up the rankings, proving that this cryptocurrency is more than just a fad, it’s now a serious contender to Bitcoin Cash.
What is Bitcoin Satoshi Vision?
Bitcoin SV is the result of the recent Bitcoin Cash hard fork that saw a forced upgrade roll out on the Bitcoin Cash blockchain. As a result of this fork, a portion of the chain had to take a new direction, this new direction is now known as Bitcoin SV and has been months in the making.
What is Satoshi’s Vision?
For those who don’t know, Satoshi Vision refers to the original idea behind the creation of Bitcoin. This is where it gets complicated. The alleged creator of Bitcoin and cryptocurrency is a person (or group of people) by the name Satoshi Nakamoto. Now nobody knows who Satoshi Nakamoto is, however thanks to documentation that surrounded the creation of Bitcoin, we know that Satoshi had a vision for a worldwide cryptocurrency that was decentralised and gave control back to the people. Satoshi had an almost Marxist vision and saw that power could be given back to ‘the people’ if they seize the means of currency production. This eventually led to the development of Bitcoin as we know it today (it’s a little more complicated than this of course, but I hope you sort of have a basic idea now).

During Bitcoins life cycle, we saw the creation of Bitcoin Cash as a result of a Bitcoin hard fork, which in turn has now led to the creation of Bitcoin SV, a version of Bitcoin that claims to want to rediscover Satoshi’s original vision and become the world’s most popular and most adopted, fully decentralised cryptocurrency, through a hard fork of Bitcoin Cash. Note that these hard forks are quite common, so this isn’t an unheard of event.
According to the Bitcoin SV website:

“Bitcoin SV is a full-node implementation for Bitcoin Cash (BCH) and will maintain the vision of Bitcoin set out by Satoshi Nakamoto’s white paper in 2008: Bitcoin: A Peer-to-Peer Electronic Cash System Reflecting its mission to fulfil the vision of Bitcoin, the project name represents the ‘Satoshi Vision’ or SV.   Created at the request of leading BCH mining enterprise CoinGeek and other miners, Bitcoin SV is intended to provide a clear BCH implementation choice for miners and allow businesses to build applications and websites on it reliably.”

The true vision of Bitcoin SV now focuses across four key areas that aim to make Bitcoin SV better than Bitcoin Cash and Bitcoin. Firstly, Bitcoin SV wants to address stability:

“The Bitcoin SV vision is to provide assured stability with only a limited and well known set of changes planned to restore the Bitcoin protocol to its original design, and enable innovation to occur on top of a stable base protocol. Part of this is restoring the Satoshi op_codes to enable businesses and development teams around the world to create the many solutions possible on the BCH blockchain, such as smart contracts, tokenisation, atomic swaps, and many more.”

Next, scalability:

“In order for Bitcoin Cash to truly act as a global money platform, it is necessary to demonstrate that the platform is ready to process transaction volume at the required scale. The Bitcoin SV roadmap is primarily focussed on delivering capacity increases, through bigger default or miner configurable block sizes and performance improvements.”

Then, security:

“Bitcoin Cash will be a global currency. To enable such a future, we need to be prepared to ensure a level of security commensurate with a global money system. To do this, the Bitcoin SV project has focused on rigorous Quality Assurance for mining node software.”

Finally, safety:

“Instant transactions are key to unlocking the brick and mortar merchant market for Bitcoin Cash payments. Security improvements can be made to better secure instant transactions for the future, and the Bitcoin SV roadmap treats safe instant transactions as a key priority.”

The future
As you can see, the Bitcoin SV team have a key focus on what they want to achieve in the future. The team will be bold in their forward movements and really do want to bring the entire ‘Bitcoin’ culture closer to the goals first set out by Satoshi Nakamoto, whoever that is. The roadmap for Bitcoin SV continues to highlight the four key areas that the team will explore and sets out a clear plan for the development of Bitcoin SV right through to Q2 of 2019. It’s a short roadmap, granted, but we expect that over time this will expand and further details will be added once the Bitcoin SV team settle down and plan for the future.
For now, we expect this cryptocurrency to remain a little unstable and thus, it probably won’t remain a top 10 cryptocurrency for the long term, that aside though, you have to admit that what we have seen from Bitcoin SV this week is quite impressive.
Source: Crypto Daily

The Latest News From Ripple And Coinbase

News has surfaced this week regarding Ripple and Coinbase. Upon initial inspection, one might get a little excited in the hope that this finally means XRP could see a listing on the standard version of Coinbase, however this isn’t really the case just yet. To give you some background, the XRP and Coinbase saga has continued for a long time now, with many XRP investors keen to see XRP go live on the standard version of Coinbase in order to allow XRP to become a more mature and more highly traded asset. Going live here will make XRP adoption a far more realistic concept.
So, no, Coinbase won’t be listing XRP on their standard platform just yet, sorry!
The news concerning Ripple and Coinbase however is positive and sees the backing of a brand new idea from a team called Securitize. Securitize are a US based firm that are making the world of tokenizing more accessible to other companies. By working with Securitize, companies will be able to tokenize their own assets and securities for future sale via the blockchain. This news comes after Securitize announced they had received a round of funding in excess of $12.75 million, of which contains donations from both Coinbase Ventures and the Ripple Xpring fund.
Currently based within the United States, Securitize wish to take their business further and as a result, these funds will be used to allow for the expansion of the company into South America and the Pacific regions of Asia in order to start providing services to businesses based within these parts of the globe.

As stated, the key objective here for Securitize is to allow for the tokenisations of securities, this is something that could sound a little familiar to Ripple. Of course, I’m not saying that XRP is a security, however many people in the industry believe XRP is a security – this however is a debate for another video.
What is a security?
According to Investopedia:

“A security is a fungible, negotiable financial instrument that holds some type of monetary value. It represents an ownership position in a publicly-traded corporation (via stock), a creditor relationship with a governmental body or a corporation (represented by owning that entity’s bond), or rights to ownership as represented by an option. The entity that creates the securities for sale is known as the issuer, and those that buy them are, of course, investors. Generally, securities represent an investment and a means by which municipalities, companies and other commercial enterprises can raise new capital.”

The aim of this project is to help other companies turn their securities (and other assets) into a token that can exist on and be traded on the blockchain. It’s sort of a convergence between traditional stock/trading and cryptocurrency/blockchain technology.
According to Sludgefeed, Carlos Domingo, the Founder and CEO of Securitize believes that the future of securities trading lies within blockchain technology:

“Carlos Domingo, who formerly led the R&D division at Telefonica, hopes that by transitioning securities to decentralized ledgers, they will be more transparent and auditable. Digitization would also facilitate instantaneous security transactions and make the current 2-day settlement period unnecessary.”

Moving onto the blockchain will help these companies trade their securities in a more efficient manner, allowing for instant and secure transactions away from the traditional, slower securities exchange procedures.
With backing from Ripple and Coinbase, Securitize are starting to grow at an exciting rate and really do plan to expand their operations on a global scale. We should also mention that though Securitize are a start up, they have already been involved with a number of major companies, according to Sludgefeed:

“To date, Securitize has tokenized a number of companies, including 22x, SPiCE VC (Domingo’s VC firm) and Augmate. Even its lead investor, Blockchain Capital, leveraged the Securitize protocol for its BCAP security token. The company refers to this process as a digital security offering (DSO).”

Investment from Coinbase and Ripple
Let’s consider that the clear investment from Coinbase and Ripple here is not an accident, this move does complement the pairs potential future plans for looking at dealing with securities and the legalities behind them. In short, we should expect that Ripple and Coinbase aren’t just silent investors in this, at the very least they will be keeping a close eye on Securitize to see how their project can help with the future plans of both Ripple and Coinbase.
Basically – we don’t expect that this is the last we will hear from Ripple or Coinbase on the matter of their investment in Securitize!
Source: Crypto Daily

Bitcoin Ownership – What You Need To Know

Bitcoin in the eyes of the law is a contested subject. Nobody really knows the true status of Bitcoin, simply because it’s a decentralised, unregulated entity. By definition, it has no legal protection. Indeed, within some countries Bitcoin does exist within a vague legal framework but still the international consensus is that Bitcoin and other cryptocurrencies are not yet defined by any concrete laws or legal contract.
Is this a good thing, or a bad thing?
The essence of Bitcoin is that it was created to allow people to take control of their own finances and their own money, away from central governments and central banks. Therefore, the design of Bitcoin is such that it actively tries to remain unregulated and uncontrolled. Since Bitcoin has not been produced by a bank or an agency, legal policymakers have nobody to turn to in order to establish policies against it. It’s a good thing because within this, Bitcoin is staying true to its roots and still remains a tool of empowerment that allows people to operate financially, in a way that they can control. On the other hand though, this does mean that often, Bitcoin receives very little to no protection, the same goes with other cryptocurrencies too. Investors, seem to be very much on their own when it comes to dealing with their Bitcoin.
What does this mean for my Bitcoin?
You probably ask yourself this on a regular basis, but what does decentralisation and a lack of regulation mean for my Bitcoin holdings? Firstly, it means you are responsible for it. You’re responsible for it’s security and it’s legitimacy and you’re responsible for protecting it from the volatility of the markets (by trading Bitcoin in a safe manner). To many however, the idea of whether or not you can actually ‘own’ your own Bitcoin is contested, therefore a lack of regulation could mean that within the law, people may not own their own Bitcoin. According to Dave Michels of Queen Mary University of London, one legal expert has broken this down in order to discuss exactly why you might not actually own your Bitcoin.
As reported by Science Alert:

“There’s more bad news for cryptocurrency investors to worry about: they may not legally own the digital assets they have purchased. My colleagues and I have recently completed research showing that courts in England and Wales are unlikely to identify digital tokens as property, since the law does not recognise possession of intangible items. This means that cryptocurrency holdings may not qualify as property at all.”

Whilst this research has taken place within the UK, similar conclusions can be drawn based on legal definitions within the United States, Singapore, Hong Kong and parts of India too. The problem within Bitcoin ownership exists within the definitions of common law, namely personal property and real property.
Personal property
“Personal property includes rights over two categories of things. First, there are ‘things in possession’. These are tangible items which you can physically possess and transfer to another.
The £20 note in your pocket is a thing in possession. Second, there are ‘things in action’, a mixed category of rights that can only be claimed or enforced by legal action. This includes debts, rights under contract, and intellectual property. The £20 you have deposited at a bank is a thing in action, because the bank owes you a debt of £20.”

That £20 debt owed by the bank, is protected by law because it has included the exchange of personal property, a physical item recorded on a physical ledger. Bitcoin and other cryptocurrencies are not classed as personal property as they are not ‘things in possession’ as objects that only exist in digital form, cannot be possessed.
Real property within law covers land ownership, so this is irrelevant to Bitcoin.
What does all of this mean?
So, according to Michels and this research, it does seem that within UK law, and the other countries mentioned, it’s impossible to consider cryptocurrency as a possession because it is solely and electronic product. This is different to other products such as game and video downloads, as these are available in physical  formats too, formats that can be physically possessed. So, what is the next step?

“In future, the law could extend property rights to digital tokens, for instance by recognising a new category of virtual-thing-in-possession – but this would probably require new legislation. For now, the property status of digital tokens remains an ‘area of doubt’, as one of the UK’s Supreme Court justices recently put it. So caveat emptor: bitcoin buyer, beware.”

Do I own my Bitcoin?
In the eyes of some small areas of the law, no, probably not – but then on the other hand you can own the private key needed to access your Bitcoin and of course, the wallets that contain your Bitcoin, therefore I wouldn’t worry about this too much. What this does demonstrate however is the urgent need for some legislation to exist, otherwise debates like this can only go on unsolved. There needs to be a solution that legally protects Bitcoin and the entire cryptocurrency industry whilst allowing it to flourish, and for that to happen, old draconian laws and legislation need to be updated and revitalised based on the fact that Bitcoin is a part of a disruptive and growing industry, one that is set to over take the world of traditional finance and FIAT currency for good.  
Source: Crypto Daily

Ouch, What A Week! Still… Good News For XLM, ETC And TRX

Though the markets have created a number of problems for investors over the past few days, we all have to remain optimistic in the knowledge that this fall is not as a result of a failed industry, instead, this is simply down to the bumpy and volatile nature of cryptocurrencies. When we tell you then investment is risky, the events of this week really do prove our point. When things look positive, they can come crashing down in an instant, with no real motivations either. Crypto is a risky industry, yes, we love it, but we also need to be wary and be careful when engaging with it.
Remember, only invest what you can afford to lose, do your research and trade safe.
Despite these events, positive news continues to surface, news that continues to place cryptocurrencies on the map, heading towards a very positive future. This week, the stand out cryptocurrencies for ourselves our Stellar XLM, Ethereum Classic ETC and TRON TRX. Of course, the news this week has been filled with news regarding the recent Bitcoin Cash fork and the new Bitcoin Cash SV token, as well as news about XRP, frankly though, we have been saturated with it this week, so, to ease you into the weekend, we’re going to take a look at some of the underdogs.
Stellar XLM
Stellar have had a great week, with positive news leaking all over the place. Foremost, we have seen news straight out of the United Arab Emirates that suggests XLM adoption is growing in the country. Dubai based cryptocurrency exchange, BitOasis have announced that they are now offering Stellar XLM within their exchange, allowing users within the UAE and neighbouring Kuwait, Bahrain, Saudi Arabia and Oman to access Stellar as an investment.
According to the official BitOasis announcement:

“We are very pleased to announce that Stellar (XLM) is now available on our digital asset trading exchange platform! You can now buy, sell and trade the XLM-AED pair on the trading exchange with 0% trading fees until November 27, 2018. In order to start trading XLM-AED, simply fund your account using our online money transfer option and place market, limit, stop, and stop-limit orders to start trading.”

The good news for XLM didn’t end there, earlier on in the week during the main part of the price crash, we actually saw XLM move up the rankings by market capitalisation, sneaking above Bitcoin Cash and following the trend set by XRP which recently surpassed Ethereum by market cap. Since then, the markets have balanced back out, allowing Bitcoin Cash to move past XLM, the same can’t be said for Ethereum though, which now sits comfortably under XRP as a result of the recent market conditions.

Ethereum Classic ETC
The good news doesn’t stop there, the same can be said for Ethereum Classic. Whilst ETC’s movements have been less dramatic than those seen by XLM, we have still seen a number of positive news reports surface as a result of good movements made within the ETC blockchain. This week, came the announcement of a round of funding from the Ethereum Classic Cooperative for a project known as Project Goerli. It seems that the cooperative have issued a grant to a team of developers under the name Project Goerli that plan on fixing problems within the Ethereum Classic testnet. If all goes well, Project Goerli may well transform the way other developers use the Ethereum Classic blockchain. The aim for Project Goerli is:

“Ensuring that issues such as a need to mine own blocks, client incompatibility and other general difficulties can be ironed out of projects within the Ethereum Classic network. Since the Ethereum Classic Cooperative are so keen to see this project through, according to their press release, the cooperative have rewarded Schoedon, Hyman and their team $125,000.00 to continue progressing their project with the hope that a new PoA testnet will be ready for rollout in around six months time.”

$125,000.00, not a bad wage for 6 months work, is it?
Once again, TRON TRX has hit the headlines with further positive developments, in line with TRONS very adventurous roadmap and plans for the future. Despite falling value and the collapsing market, TRX has managed to achieve a collaboration with the Huobi Wallet, meaning that now Huobi will support the storage of TRX through their wallet system.
This is good news for TRX adoption, as it gives TRX investors and holders a new way to store their cryptocurrency and moreover, gives Huobi wallet users access to a new asset, one that seems to be growing at a very exciting rate. It can be said that we are sure that support from the Huobi wallet will ensure a new wave of TRX investment in the future.
As you can tell, this has not been the most promising week for crypto in terms of value. However, as we can see, many cryptocurrency products and projects still continue to grow and still continue to make positive progress despite falling values. This is inspiring confidence in investors and the entire crypto community on the whole. It’s great to see that even through the hard times, crypto still continues to flourish!
Source: Crypto Daily

Ethereum Blockchain Is Attracting The Wrong People

Ethereum has broken the headlines for a number of different reasons this week. The big news of the week came as a result of a slight ‘flippening’ that saw XRP finally surpass Ethereum by market capitalisation, knocking Ethereum off the top spot that it has held for an awfully long time now.
What has happened here?
Ethereum is most known as the second most popular cryptocurrency in the world. Indeed, by market capitalisation this is no longer the case, after sinking value and sinking market capitalisation within Ethereum allowed XRP, the token native to Ripple’s technologies, to finally overtake Ethereum and hold on to the highly sought after, second place. This ‘flippening’ might only be temporary, though it does encourage many Ethereum investors to start asking questions.
This is down to a market that has really dragged cryptocurrency down over the past few days Bitcoin had slipped well past the vital $5,000.00 threshold and Ethereum itself has also hit some quite shocking lows. XRP on the other hand managed to keep hold of a big chunk of it’s value and managed to avoid falling into the trap that seems to have been set by Bitcoin. As a result of this, XRP has managed to climb up the rankings and retain some of it’s value, all thanks to what seems to be speculation surrounding XRP and the infamous Coinbase debate.

What I am saying here is that Ethereum hasn’t slipped down because of any of its own mistakes, Ethereum has simply dropped as a result of an organic market trend, whilst XRP has somehow managed to avoid getting sucked into this, hence the ‘flippening’.
Bad actors on the Ethereum network
As the title suggests, we are now going to explore bad actors on the Ethereum network, as it does seem that recently, Ethereum based tokens have been subject malicious activity. The Ethereum blockchain has been built to be decentralised and globally accessible. Anybody can engage in Ethereum, making it a perfect platform for investors, developers and general technology enthusiasts. It’s an open source haven for the tech savvy, which does sound like a good thing, right? This however can mean people with bad intentions can access the platform, which increases the likelihood of Ethereum products falling victim to hacks and malicious attacks.
Minting attacks
An example of such a group of bad actors has been reported recently, after Ethereum developers ‘Level K’ reported the discovery of a vulnerability within the Ethereum network that allows hackers to mint GasToken whilst accepting Ethereum payments. According to CCN:

“By minting vast amounts of GasToken while receiving ETH, it would be possible at least in theory for such a griefing attack to become profitable to a bad actor. What is more, the risk is not limited to ETH, but also includes all Ethereum-based tokens such as those built on ERC-721 and ERC-20 standards.”These minting attacks in essence, allow hackers to manipulate transactions (paid for by a legitimate user) which cause transaction sources (like exchanges for example) to have to pay for the extra computation power used in the transaction, this is known as gas on the Ethereum network. The gas payments are then sent to the hackers, who have in turn ‘minted’ new tokens.

Importantly, this hack could have impacted any token created on the Ethereum network, so not just Ethereum itself, but also ERC-20 and ERC-721 based tokens.
According to CCN, the report released by Level K goes into further detail, referencing a case study that aims to explain this type of attack in further detail:

“In the simplest exploit scenario, Alice runs an exchange, which Bob wants to harm. Bob can initiate withdrawals to a contract address he controls with a computationally intensive fallback function. If Alice has neglected to set a reasonable gas limit, she will pay transaction fees out of her hot wallet. Given enough transactions, Bob can drain Alice’s funds. If Alice fails to enforce Know Your Customer (KYC) policies, Bob can create numerous accounts to circumvent single-account withdrawal limits. In addition, if Bob also wants to make a profit, he can mint GasToken in his fallback function, and make money while causing Alice’s wallet to drain.”

Now we must note that hacks aren’t just localised to the Ethereum network, any cryptocurrency can be subject to hacks (yep, even the ultra secure ones), however the nature of Ethereum means that these sorts of hacks are more common, simply because there are so many tokens built upon the Ethereum protocol. One hack or vulnerability can impact many different tokens, basically.
As we have stated, Ethereum is an open source universe, one that is full of different products. A downside to this community culture is that it does mean that the risk of hacks and attacks is somewhat heightened, and the scale of these attacks can be far greater than we would expect to see on other, smaller blockchain networks.
Thankfully, the minting vulnerability discovered by Level K has now been addressed:

“Exchanges potentially affected by the vulnerability were notified privately on November 13, and because it was not possible to say exactly which ones had no protections in place, this notification was sent to as many exchanges as possible, all of whom have now implemented patches to fix the problem.”

Source: Crypto Daily