Privacy Crypto Dev Attempts to Expose Self-Proclaimed Bitcoin Creator

Anonymity and privacy are extremely important in the crypto industry. The original crypto that the entire industry is based on was created by the pseudonym Satoshi Nakamoto, and to this day no identifying details are truly known about the person who designed Bitcoin.
However, recently, someone has come forth claiming to be Satoshi Nakamoto, and promises they will reveal their full identity in the coming days. But before the final reveal could happen, the lead developer for the most privacy-centric crypto project in the market is oddly working to expose the person behind the Satoshi Nakamoto reveal – who could potentially be the person who created Bitcoin and in turn sparked the creation of the entire crypto industry.
Monero Dev Exposes Self-Proclaimed Satoshi Nakamoto, Creator of Bitcoin
Over the weekend, a blog post was published from a PR firm representing someone who claims to be the person behind the Satoshi Nakamoto pseudonym and is responsible for creating Bitcoin.
As soon as the blog post was revealed, the entire crypto community took to arms, going through every word in the text with a fine-tooth comb and analyzing every reference to see if there’s any fact or if its pure fiction.
Related Reading | Bitcoin Becomes “Money,” One Satoshi Now More Valuable Than Some National Currencies 
The seemingly believable story was met – rightfully – with much criticism and skepticism, and many are working hard to disprove any theories and call attention to any pitfalls in the story. Others are even pointing at the poor “Geocities” quality website as a reason why the story cannot possibly be legitimate, due to the creator of the most powerful financial technology ever clearly being able to afford a better quality website given their ownership of over 980,000 BTC that the self-proclaimed Satoshi says he still holds.
Even the lead dev of Monero, Riccardo Spagni has joined in on the search and whose sleuthing has turned up important information tied to the reveal conspiracy. Spagni has discovered through a public WHOIS domain registration search, that the person who owned the website the self-proclaimed Satoshi claimed to have owned, that the person’s name is Bilal Khalid, and says this person is “not Satoshi Nakamoto.”

For those following along at home, here's the public WHOIS info from thebcci<dot>net in 2008. pic.twitter.com/dyVlzdgB2Q
— Riccardo Spagni (@fluffypony) August 18, 2019

Spagni connected the dots leading back to Khalid’s real name through the WHOIS data from thebcci.net – the website for Bank of Credit and Commerce International, which the person behind the Satoshi reveal claims is how Bitcoin got its name.
While Khalid or whoever is behind the Satoshi reveal has brought this attention unto themselves, its surprising to see the lead developer behind a crypto project focused on privacy, working so hard to expose the identity of someone – regardless of who they are.
Related Reading | Tools of the Trade: Monero and Privacy Coins Are Creating More Efficient Criminals
Spagni is the lead developer for Monero (XRM), a privacy-focused crypto that’s come under much scrutiny itself as global regulators fear its anonymity and potential for illicit use such as money laundering.  But before the pitchforks come out, Spagni’s intentions were noble, and is hoping to prevent the rest of the crypto community and Bitcoin believers from falling victim to what many are calling an elaborate PR stunt, a scam, or worse.
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These are Top Five Weekly Performers in the Crypto-Market

Bitcoin [BTC] began with a bullish break at the start of the week. It broke above the resistance near $11,000 and the bullish pressure extended above $12,000.
The de-coupling of altcoins with Bitcoin was of the notable trends during the week. While Bitcoin [BTC] is growing as a hedge against the traditional economy, the altcoins are continually losing their value proposition.
Ethereum, XRP, Litecoin, Bitcoin Cash [BCH] and so on which are one of the most robust altcoins in the past saw one of the worst weeks of trading in the past two years. The price tested 15-month lows w.r.t. Bitcoin.
Nevertheless, a slight revival was seen during the weekend in altcoins. The development and adoption of these altcoins still rest on regulatory decisions and their rate of adoption.
BTC/USD 1-Day Bitstamp (TradingView)
Opening Price: $10,725
Closing Price: $11,455
Weekly Gains: 6.8%
Weekly High/Low: $12,325/$10,986
Monero [XMR]
The price action in altcoins during the week was mostly bearish on major altcoins like Ethereum and XRP. However, the privacy-focused cryptocurrency outshined during the week as it looked to break above $100 on 7th August 2019. However, the selling pressure gripped Monero as well as it fell to test $90 levels again.
XMR/USD 1-Day Chart on Binance (TradingView)
Opening Price: $86.8
Closing Price: $91.8
Weekly Gains: 5.72%
Weekly High/Low: $99.8/$85.6
Binance [BNB] Coin
The Exchange backed tokens performed well in terms of price as it broke above $30. Binance is continually expanding its reach geographically and in terms of the number of cryptocurrencies as well.
BNB/USD 1-Day Chart on Binance (TradingView)
Opening Price: $28
Closing Price: $29.8
Weekly Gains: 4.2%
Weekly High/Low: $32.3/$25.3
Huobi Token [HT]
Another Exchange backed token that made to the list this week. The demand for Exchange backed tokens is increasing as the payments and other utility tokens as starting to lose their luster. The traders and investors are beginning to find Exchange backed tokens a better opportunity to invest in the emerging space.
Huobi Token and OBK token are two of the most popular tokens among Chinese VCs as well as their business model is backed by the monetary value of the Exchange.
HT/USD 1-Day Chart on Huobi (TradingView)
Opening Price: $4.6
Closing Price: $5.04
Weekly Gains: 9.5%
Weekly High/Low: $5.3/$4.6
EOS
The losses in altcoins were massive during the week as they exhibited an inverse relationship during the week with Bitcoin. Nevertheless, EOS was one of the smallest losers during the selling pressures. While it touched a low near $3.8, it mostly traded above $4 during the week.
EOS/USD 1-Day Chart on Binance (TradingView)
Opening Price: $4.34
Closing Price: $4.16
Weekly Loss: 4.13%
Weekly High/Low: $4.57/$3.8
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $1 billion is 0.3%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $1 billion or more. For future analysis, we’ll try to maintain ~0.25% as a standard for the calculation.
**The data is taken at around 13: 00 Hours UTC on 11th August 2019
The post These are Top Five Weekly Performers in the Crypto-Market appeared first on Coingape.
Source: CoinGape

July’s Industry Dynamics Revealed in New Crypto Report

Coinspeaker
July’s Industry Dynamics Revealed in New Crypto Report
The latest CORindex crypto report is titled “July 2019 Cryptocurrencies Transactions and Activity” and it features key data any analyst or investor in this space will need to know to make decisions about their assets.
July’s Industry Dynamics Revealed in New Crypto Report

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Source: CoinSpeaker

Crypto-Market Top Weekly Performers: Bitcoin, Monero, Binance Coin, Stellar, ChainLink

Cryptocurrency markets witnessed another exciting week as the Bitcoin [BTC] began the week with a robust bullish action, but failed to yield. Furthermore, the altcoin ‘hodlers‘ suffered massive losses to the tune of more than 20%.
Moreover, Bitcoin [BTC] bulls also seem exhausted at the moment as the price keeps falling to find support. Overall, this was a bearish week for the cryptocurrency markets as the market capitalization dropped. The losses for altcoin traders were further accentuated by the rising dominance of Bitcoin; which is currently 65.4%.
BTC/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $$11,300
Closing Price: $10,612
The weekly Loss: 6%
Weekly High/Low: $13200/$10,555
The general sentiments of the market were bearish. Hence, while all coins are in red, these are the ones’ that took slightly fewer losses compared to others.
Monero (XMR)
XMR/USD 1-Day Chart on Binance (TradingView)
Monero is one of the most popular privacy-focused cryptocurrency. This week while most cryptocurrencies broke their USD support, Monero has tried to maintain support around $88.
Opening Price: $98.5
Closing Price: $87.1
Weekly Loss: 11.9%
Weekly High/Low: $116.7/$84.4
Binance [BNB] Coin
Binance conducted to 8th quarterly token burn, which saw a burn of 808,888 BNB tokens which came as positive news for the traders. However, there are significant concerns around the supply and hence, price discovery, which seems to be keeping the bulls at bay.
Nevertheless, the Exchange has been growing massively with increasing volume almost every quarter. Huobi Token and LEO, the other two exchange backed tokens are also holding onto gains at the moments.
BNB/USD 1-Day Chart on Binance (TradingView)
Opening Price: $33.3
Closing Price: $29.3
The weekly Gains: 12%
Weekly High/Low: $36.9/$27.1
Stellar [XLM]
Stellar [XLM] was one of the top performing cryptocurrencies which has currently slid down from the top the ten lists by Mcap. Moreover, it is also now testing support at the lower level.
Cryptocurrency regulations and lack of visible development and insight around IBM and stellar, its’ most coveted partnership, the coin continue to slide down with the bearish altcoin momentum.
XLM/USD 1-Day Chart on Binance (TradingView)
Opening Price: $0.106
Closing Price: $0.088
The weekly Loss: 16.9%
Weekly High/Low: $0.114/$0.083
Chain Link [LINK]
Chainlink is the best performing cryptocurrency since the past couple of weeks. While the altcoin traders have continued to lose confidence even in the most popular cryptocurrencies, chainlink [LINK] emerged as an exception.
It grew from $1.5 to trade just below $5; however, the FOMO soon stopped. Despite the losses in recent times, the cryptocurrency is currently looking to establish support around $3.
LINK/USD 1-Day Chart on Binance (TradingView)
Opening Price: $3.29
Closing Price: $2.94
The weekly Gains: 10.6%
Weekly High/Low: $3.89/$2.57
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $1 billion is 0.3%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $1 billion or more. For future analysis, we’ll try to maintain ~0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 14th July 2019.
The post Crypto-Market Top Weekly Performers: Bitcoin, Monero, Binance Coin, Stellar, ChainLink appeared first on Coingape.
Source: CoinGape

Max Keiser hints at the coming of a Monero-BTC duopoly in cryptospace

Given the plethora of coin offerings with niche differences, it is no secret that the financial ecosystem will be ultimately home to only a handful of names. In this effort, businesses have started rebuilding their ecosystems to ensure their coin maintains its future-ready status amid the rising competitions. Contrary to popular belief, prominent crypto enthusiast […]
The post Max Keiser hints at the coming of a Monero-BTC duopoly in cryptospace appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Capitulation: An Altcoin Obituary, Or the Biggest Buy Signal Ever?

Since the start of April 2019 when Bitcoin rallied over $1,000 in a matter of a few minutes, the first ever crypto asset has taken the market by storm, capturing the attention of all crypto traders, investors, and analysts – but at the expense of the altcoin market.
While hope for an “alt season” has lingered throughout much of 2019, that hope finally turned into panic, as altcoins – the asset class designed in the vein of Bitcoin – have started to capitulate. But even though most of the crypto community is extremely bearish on the category of coins, typically when there’s “blood in the streets” it’s among the most lucrative buy signals.
Bitcoin Continues to Bleed Out Altcoins, When Does the Crypto Carnage End?
Upon reading any internet forum on cryptocurrency or scrolling down a crypto Twitter feed, you’ll be hard pressed to not find anger and despair towards altcoins everywhere you look.
Following a parabolic advance by Bitcoin, the first ever crypto asset has literally sucked all the value out of the altcoin market, and as BTC pushes higher, trading pairs against Bitcoin have crashed ever further in their ratio.

According to CoinMarketCap data, the entire top ten cryptocurrencies by market cap have dropped between 5% and 11% across the board. Lower down the market cap rankings 24-hour losses reach as high as 69% in some “shitcoins.”

New record on alt/btc bleed. pic.twitter.com/et8ENps8IR
— Krokz (@krokotar) July 10, 2019

The bleeding has even reached a new record, according to one crypto analyst.
This capitulation event has caused many to turn full-blown BTC maximalist, including Youtube influencer Ian Balina.

You either die as a BTC maxi or live long enough to see Balina capitulating with altcoins. pic.twitter.com/KFpE78LfFT
— The Crypto Monk (@thecryptomonk) July 10, 2019

Others have reacted with much more anger than tact, however, those that are responding to this with a clear head may want to consider buying here or slightly lower – as capitulation often is the final ending point before a major rebound. Take Bitcoin’s rise to $13,800 from $3,200 as a prime example of this.
Related Reading | Crypto Analyst: Bitcoin (BTC) Dominance May Reach 80%, Altcoins Expected to Bleed 
When altcoins do eventually bounce, they’ll bounce extremely hard and the alt season that everyone has been waiting for will happen faster than anyone could predict. As for when, or if that even occurs remains a mystery, but it could present the biggest financial opportunity for those that take the risk.

So much hate for alts on CT rn. Most of them will probably 10x in a matter of weeks.
— Crypto₿ull (@CryptoBull) July 10, 2019

Past bear and bull cycles have taught us that each cycle drastically changes the ranking of coins, with many never again reaching their previous highs, while others go on to set new highs and could potentially outperform Bitcoin by a wide margin.
But picking the winners isn’t easy, and choosing the wrong coin could result in complete loss. What will you do here? Buy or sell?

Prayers for Altcoins pic.twitter.com/18xr8RZkOk
— ฿ (@BitBitCrypto) July 10, 2019

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Crypto-Market Top Weekly Performers: Bitcoin, XRP, Monero, Tezos, Binance Coin

The first week of July witnessed a big roller-coaster of price sentiments. Bitcoin started the week strongly with a bullish move after a pullback of nearly 30%. However, the Bitcoin price witnessed a sharp plunge on 4th July, which has again put the bulls on hold.
Nevertheless, Bitcoin has continued to hold its position above $11,000, which has left the traders uncertain. However, if it continues to hold and consolidate above this level, it will be a strong positive signal for Bitcoin.
BTC/USD 1-Day on Bitstamp (TradingView)
Opening Price: $10525
Closing Price: $11,300
The weekly Gains: 7.3%
Weekly High/Low: $12061/$9614
XRP
XRP and other cryptocurrencies have recorded losses w.r.t. to Bitcoin in the past couple of weeks. Nevertheless, XRP continues to hold critical support above $0.385.
The increasing attention towards Bitcoin and Libra had continued to raise doubts around the prospects of the XRP. However, Ripple has continued to work strongly in developing partnerships with banks and money transmitters to increase the adoption of xRapid.
XRP/USD 1-Day Chart on Binance (TradingView)
Opening Price: $0.393
Closing Price: $0.398
The weekly gains: ~0.05%
Weekly High/Low: $0.44/$0.349
 
Monero [XMR]
Monero is the most popular privacy-focused cryptocurrency whose developers have always advocated complete decentralization and an advanced protocol for seamless transfer of value and mining.
Recently, the lead developers team also disclosed a glitch that could have potentially led to the theft of the cryptocurrency Exchanges. The market sentiments around Monero are slightly let down because of regulatory concerns. However, many advocates of privacy prefer Monero than any other cryptocurrency.
Also Read: This Week in Cryptos: Binance to Support Dogecoin while Cuba Looks towards Cryptos
XMR/USD 1-Day Chart on Binance (TradingView)
Opening Price: $88
Closing Price: $98.5
The weekly Gains: 11.9%
Weekly High/Low: $101/$88
Binance [BNB] Coin
Binance [BNB] Coin is still looking strong as it continues to hold its support above $30. The cryptocurrency is backed by the most significant cryptocurrency Exchange in the business and has seen tremendous growth this year. Some of the other Exchange backed tokens like Huobi Token and LEO Unus Led from Binance have also performed well during the week.
BNB/USD 1-Day Chart on Binance (TradingView)
Opening Price: $31.8
Closing Price: $33.3
The weekly Gains: 4.7%
Weekly High/Low: $37.7/$27.8
Tezos [XTZ]
Tezos [XTZ] was the best performing cryptocurrency this week whose rise can be attributed to the $1 billion security token deal with one of the largest Brazilian bank, Banco BTG Pactual.
XTZ/USD 1-Day Chart on Bitfinex (TradingView)
Opening Price: $0.92
Closing Price: $1.19
The weekly Gains: 29.3%
Weekly High/Low: $1.32/$0.82
Ethereum [ETH]
ETH/USD 1-Day Chart on Bitstamp (TradingView)
Ethereum, EOS, Bitcoin [Cash] and Tron [TRX] showed similar price movements with a downfall near 8% on a weekly scale. The success or failure of a cryptocurrency necessarily depends on its adoption and its profitability expectation.
Opening Price: $289
Closing Price: $294
The weekly Loss: 1.72%
Weekly High/Low: $304/$261
The rising Bitcoin dominance and the concerns around regulations on cryptocurrency and the Exchanges have further increased the uncertainty around investments in altcoins. However, as it moves away from speculation, it can be perfect for the growth of these currencies.
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $1 billion is 0.3%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $1 billion or more. For future analysis, we’ll try to maintain ~0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 30th June 2019.
The post Crypto-Market Top Weekly Performers: Bitcoin, XRP, Monero, Tezos, Binance Coin appeared first on Coingape.
Source: CoinGape

Crypto Activity in June by the Numbers

Coinspeaker
Crypto Activity in June by the Numbers
CORindex releases its latest monthly report detailing the most significant changes in the crypto game in June.
Crypto Activity in June by the Numbers

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Source: CoinSpeaker

Monero (XMR) susceptible To Developer Centralization, Dumps 7.6%

Monero (XMR) is down 7.6 percent week-to-date
The privacy-centric network prone to developer centralization

In their quest for complete decentralization, Monero, as a blockchain network, has suffered massive drops in hash rate. That follow several upgrades with the sole objective sidelining ASIC miners. Even so, with this, the system is more reliant on its developers, and that is a weakness. Currently, XMR is down the market cap ranking to 14th.
Monero Price Analysis
Fundamentals
Futurists reckon that in days ahead, the world will be more secure, decentralized and private. Of the many blockchain projects keen on fronting privacy and anonymity, Monero is the most visible. At just over $1.5 billion, the network is well capitalized and liquid.
To quantify, over $62 million of XMR, Monero’s native currency, were distributed as rewards in 2018 alone. Even so, the figure will drop as more coins are mined and held in private hands.
Note, Monero (XMR) block rewards reduce every day, unlike in Litecoin or Bitcoin networks. However, the law of scarcity will an upgrade revision of the token’s price.
Meanwhile, their goal of starving ASIC miners is a weakness in itself. Although their effort leveling the play field at the expense of the network’s computing power is welcomed, it also jeopardizes the system.
There is developer centralization as their reliance, when hard forking to a new ASIC-resistant version, increase. Talking to CoinDesk about this choice, Diego Salazar said:
“We [also] saw that this was very unsustainable. … It takes a lot to keep [hard forking] again and again for one. For two, it may decentralize mining, but it centralizes in another area. It centralizes on the developers because now there’s much trust in developers to keep hard forking.”
Candlestick Arrangements

Fluctuating in the last couple of days, XMR is under pressure. However, in light of recent developments, that is not to say bears are in control. Notice that XMR is within a bullish breakout pattern against the USD.
In a retest, XMR prices are back to the $80 support level. Assuming bears press lower, the main support level will be at $75. That is, at April highs and back to an important support previous resistance level of Q1-2019.
Bullish, patience is vital. For trend resumption, bulls must completely reverse losses of June 30. Behind the upsurge must be high trading volumes that will propel prices to $120 or even $150 in the third phase of a classic breakout pattern, the trend continuation stage.
Technical Indicators
Therefore, anchoring this trade plan is June 26 bear candlestick confirming the double bar bear reversal pattern of June 24-25. With high trade volumes of 52k, the entry of buyers erasing losses of June 30 as aforementioned ought to be with distinctive engagement surpassing 52k of June 26.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Harmony Launches Their Mainnet That Solves ‘the Blockchain’s Hardest Challenge’

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Harmony Launches Their Mainnet That Solves ‘the Blockchain’s Hardest Challenge’
Two days ahead of schedule blockchain Harmony announced the launch of their mainnet that will, as per their words, solve the hardest challenges in blockchain i.e. ‘scaling linearly’.
Harmony Launches Their Mainnet That Solves ‘the Blockchain’s Hardest Challenge’

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Source: CoinSpeaker

Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, Monero, Binance Coin and NEO

We’re heading towards the end of what can is called as one of the most exhilarating weeks for cryptocurrencies, especially Bitcoin. The impetus was brought on by Facebook’s announcement, which gave Bitcoin, which provided the market with the catalyst it required.
Bitcoin gained around 20% since the beginning of the week. Majority of the gains were realized towards the end of the week on Friday and Saturday. Nevertheless, the momentum was built during the beginning as Bitcoin [BTC] rose above $9100.
Also Read: Peter Brandt Predicts Another Bold Parabolic Target for Bitcoin [BTC]
While Facebook’s announcement acted as a detonator, the utility of Bitcoin as a ‘store of value‘ seems to be establishing with David Marcus, Head of Facebook’s Blockchain unit and Brad Garlinghouse, CEO of Ripple not indenting to compete with Bitcoin’s utility.
BTC/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $9083
Closing Price: $10675
The weekly Loss: 17.5%
Weekly High/Low: $9388/$7516
Ethereum
Ethereum maintained its dominance over the cryptocurrency market with near propionate gains to Bitcoin. The positive sentiments towards Ethereum can be attributed to Ethereum 2.0 announcements and the increasing volume on it.
Ethereum, EOS, Tron, and Cardano are competing for top place as a smart contract platform. While Tron (TRX) gained in double digits, the rise in EOS and ADA were close to 5%.
ETH/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $269
Closing Price: $308
The weekly Loss: 14.4%
Weekly High/Low: $319/$260
Monero
Monero [XMR] along with Ethereum traded positively or only slightly contrary to Bitcoin over the entire week. It is the most popular privacy-centric protocol in the market. Another privacy-centric cryptocurrency, Zcash also gained above 20% during this week.
XMR/USD 1-Day Chart on Btfinex (TradingView)
Opening Price: $96
Closing Price: $106
The weekly gains 10.4%:
Weekly High/Low: $119/$94.7
Binance [BNB] Coin
Binance Coin [BNB] is forming a new almost every week. The year to date (YTD) rise in Binance was above 600% as it broke above $42 momentarily during the week. The Exchange backed token has been on the linear surge this year. Moreover, Binance coins stand a higher chance to grow with other Exchanges start supporting it like Kucoin.
BNB/USD 1-Day Chart on Binance (TradingView)
Opening Price: $32.3
Closing Price: $38
The weekly gains 17.6%:
Weekly High/Low: $43.2/$31.6
NEO
NEO is also a big smart contract and Dapps platform that facilitates ease of coding for developers. Moreover, it is highly prevalent in China. Early on Sunday 23rd June 2019, the price recorded a 25% gain as it traded at a high of $19 with $20 acting as massive resistance.
NEO/USD 1-Day Chart on Bitfinex (TradingView)
Opening Price: $14.1
Closing Price: $17.4
The weekly gains 22.9%:
Weekly High/Low: $19.4/$12.8
The growing attention towards Bitcoin [BTC] along with the development of cryptocurrency regulations can bring good news for the entire market. Nevertheless, many altcoins will also stand the test of regulators to address the concerns around their utility, launch, protocol, and degree of centralization.
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $1 billion is 0.3%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $1 billion or more. For future analysis, we’ll try to maintain ~0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 23rd June 2019. 
The post Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, Monero, Binance Coin and NEO appeared first on Coingape.
Source: CoinGape

Monero (XMR) Surges 25.3% As Developers Crackdown On ASIC Miners

Monero (XMR) spikes 25.3 percent
RandomX under audit

In Monero, decentralization is vital. As a result, the next enhancement of its mining algorithm, via RandomX, is a step in the right direction. Eventually, the hash rate will pick up as more ordinary miners flow back. In turn, their participation will fortify the network, instilling confidence, and XMR could surge higher in response.
Monero Price Analysis
Fundamentals
Given the threats of Application Specific Integrated circuits (ASICs) in a network, creators of Monero are not taking this lying. The founder of Monero has more than once expressed his distaste for ASICs, and is walking the talk.
To put this in perspective, Monero is firmly built around adherence to ground rules. Therefore, that means compliance to blockchain principles governing other liquid coins as Bitcoin and Ethereum.
Fronting decentralization-which ASIC miners, mostly churned by Bitmain, often crash as their miners are turbo-charged to maximize hash power, their use fosters an unfair mining landscape. It causes a destabilization, cutting out interested and honest GPU miners from participation.
As such, their walling off of ASIC miners has been lauded. However, it was a hard choice to make because their hash rate plummeted at the wake of this upgrade. Crashing from around 1,000 MH/s to less than 300 MH/s, the network was susceptible.
All the same, it was done for the betterment of the Monero community, which by far is a well-capitalized privacy-centric coin. Currently, plans for a new mining algorithm are in progress. The activation of RandomX will be in July 2019, dependent on the satisfaction of code auditors.
Candlestick Arrangements

At the time of writing, XMR is one of the top performers. By surging 25.3 percent, the coin is more valuable than Dash. Notably, it is less than $400 million away from flipping TRX as buyers aim at a spot in the top-10.
Behind this resurgence are favorable fundamentals and supportive candlestick arrangements. Additionally, note that underlying momentum is strong thanks to bull candlesticks banding along the upper Bollinger Bands.
From the chart, XMR is trading within a bullish breakout pattern. Effortlessly clearing $75 and psychological $100 at the back of high trading volumes, buyers are firmly in control. In light of this, every dip is another buying opportunity.
That means traders can buy the retracements with first targets at $150, another resistance level previous support. Should buyers slowdown, expected support will be at $100 or May 2019 high.
Technical Indicators
As momentum builds up, trading volumes should increase. That means in days ahead, participation levels confirming buyers should exceed current averages of 14k and even 32k of June 22.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post Monero (XMR) Surges 25.3% As Developers Crackdown On ASIC Miners appeared first on NewsBTC.
Source: New feedNewsBTC.com

LocalBitcoins Removes In-Person Cash Trades without Prior Notification

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LocalBitcoins Removes In-Person Cash Trades without Prior Notification
Popular peer-to-peer platform LocalBitcoins reportedly removed the option that enables users to buy or sell cryptocurrencies in person for cash.
LocalBitcoins Removes In-Person Cash Trades without Prior Notification

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Source: CoinSpeaker

Bitcoin [BTC] is as vulnerable as Monero [XMR], claims Monero Talk’s Douglas Tuman

Bitcoin [BTC] has always dominated the cryptocurrency market in terms of market cap, as well as trading volume [Despite USDT recently recording a higher 24-hour trading volume]. However, the king coin’s community and that of the privacy-centric Monero, have always been at loggerheads.
In Monero Talk‘s latest live stream hosted by Douglas Tuman, noted developer Jethro Grassie spoke about Bitcoin’s shortcomings and the privacy coin, Monero. Weighing the pros and cons of the two coins, this edition highlighted that Monero is vulnerable to undetected inflation, just as much as Bitcoin is susceptible to private keys being decoded from public keys. Tuman stated,
“If it’s about security then Bitcoin is really just as vulnerable as Monero is on those in those terms because they both rely on this discreet logarithm not being broken”
The talk featured Jethro Grassie, a Monero developer, who spoke about Bitcoin’s shortcomings, especially the transparent ledger, and claimed that early assumptions regarding the king coin tuned out to be a “load of crap.”
What triggered Grassie the most is one of Bitcoin’s community members ranting that Monero couldn’t audit the security of the commitments because there was no formal order, as they were perfectly hiding and ‘only’ computationally binding.
The developer clarified that computational binding is fundamental to elliptic curve cryptography, which is the hardness of the elliptic curve discrete logarithm problem. Hence, saying “only computationally binding,” is kind of a misdirection, according to Grassie.
He added that anybody without a clear understanding of the hardness, who starts ranting about the weakness in Monero and hints at potential hidden inflation is basically spouting  “nonsense”.
Talking about Bitcoin core devs’ reluctance to add confidential transactions for the purpose of anonymity, Douglas Tuman pointed out that Bitcoin “maximalists” prioritize keeping the coin secure, over implementing tools like the one aforementioned. The host also argued the need for using the “security protocol,” if Bitcoin is not “digital cash” in the first place. He went on to say that Bitcoin had almost “given up the pursuit of being digital cash.”
The post Bitcoin [BTC] is as vulnerable as Monero [XMR], claims Monero Talk’s Douglas Tuman appeared first on AMBCrypto.
Source: AMB Crypto

JPM Introduces Confidential Transactions like Monero on Ethereum with Zether [ZTH]

JPMorgan and Chase Co. has developed a privacy feature compatible with smart contract platform. The new feature will not only hide the sender and receiver’s details but would also keep the amount of the transaction transparent.
JP Morgan has developed a payment mechanism, Zether, that is compatible with Ethereum and other smart-contract platforms. Zether, is designed by Benedikt Bunz , Shashank Agrawal, Mahdi Zamani, and Dan Boneh from Stanford and Visa Research facility.
Also Read: Bitcoin [BTC] ‘Intrinsic Value’ Suggests it is More Efficient Than Gold
Zether [ZTH], An Anonymous Crypto-graphic Extention for Ethereum and Other Smart Contract Platforms
The basic idea of privacy is reduced targetted attacks and allowing for the development of contracts that require privacy. Targetted attacks can be planned on individuals or firms which reveals a higher account balance. Zether privacy feature can be used to provide sealed-bid auction, private payment channel, confidential stake-voting, and private proof-of-stake.
Oli Harris, head of JP Morgan Blockchain division and crypto-assets strategy, told the media,
“…In our implementation, we provide a proof protocol for the anonymous extension in which the sender may hide herself and the transactions recipients in a larger group of parties.”
They have implemented an account-based approach similar to Ethereum for efficiency and usability. Therefore, Zether has also introduced a ZTH token that will be funded with Ethereum and another smart contract tokens and executed with complete privacy. Zether could also be used to make proof-of-stake confidential.
Zether anonymity guarantee is more similar to Monero than any other privacy coin in the market. It also has its token the ZTH token, which is used to facilitate the exchange between these platforms. Essentially it provides a compatible-platform for developing private smart contracts.
Also Read: Ripple Might Lose Its Banking Partnerships Due to the JPM Coin Phenomena
A Zether confidential transaction costs about 0.014 ETH or approximately $1.51 (as of early Feb 2019). Moreover, it is a fully-decentralized mechanism designed to complement smart-contract platforms.
Reportedly, JP Morgan is also working on its blockchain based payment network, Quorum. The banking Giant has attracted some 220 banks to its Quorum-based Interbank Information Network. The JPM Coin launched by the bank is a stablecoin that is being, currently used for internal operations only but is expected to be launched for public use as well.
Do you think that JPM’s drive towards privacy will benefit the market for anonymous cryptocurrencies like Monero and Zcash? Please share your views with us. 
The post JPM Introduces Confidential Transactions like Monero on Ethereum with Zether [ZTH] appeared first on Coingape.
Source: CoinGape