Horizon Pre-ICO Starting March 19 – 60% Discount for Investors

The Horizon pre-ICO powered by Horizon Telecommunications has been announced to start on March 19. The project has been attracting a lot of attention as the first telecom based company raising funds through an ICO. The company through this initiative would roll out state-of-the-art telecom services in the Caribbean, quickly expanding to Central America and then to key markets Worldwide.


Being a contributor to the sale enables users to generate and own the Horizon token. The Horizon smart token provides the mechanism through which an investor gains access into the token economy of a fledgling world-class company serving the internet and telecom needs of millions of people in the Caribbean.

For investors interested in the presale, the following are some terms of participation in the upcoming Horizon presale:

A portion of 2 million tokens is available for purchase at a discounted price of 60 percent of the fixed value of Horizon token, with a significant number sold during the private presale.

Another 8 million tokens are available for purchase at a discounted price of 45 percent of the fixed value of the Horizon token.

The fixed initial price of the HRZN has been kept at 0.0008 ETH.

The presale will commence on March 19 through April 20. However, investors should bear in mind that there is a maximum number of tokens available at the presale, which when reached before that period, the presales ends.

The company president, Mr. Gilbert Darrell had this to say about the ICO presale:

We were blown away by the support the crypto community, experts in the field and our investors for believing in our business model.

We’ve had multiple offers from private investors in our private sale and look forward to accomplishing more in our presale to meet the expectations of the communities we’ll serve through provisioning of high-speed internet services.

We’re very excited to be able to offer our token to the General Public, to be the first ISP to launch via an ICO.

The Horizon presale token distribution is on a first come first serve basis. Interested contributors are advised to rely only upon and trust information obtained from the company website, https://horizoncomm.co.


Images courtesy of Horizon Telecommunications

The post Horizon Pre-ICO Starting March 19 – 60% Discount for Investors appeared first on Bitcoinist.com.

Source: Bitcoininst

Circle Goes on a Hiring Spree to Improve Service at Poloniex

Circle Goes on a Hiring Spree to Improve Service at Poloniex

One of the main concerns for the cryptocurrency investing community over the last year was the ability of exchanges to handle the huge influx of new traders into the ecosystem. Circle seems to have picked up on that sentiment, going on a hiring spree in order to improve the service at its recently acquired venue Poloniex. The move is meant to help the exchange expand globally, with an emphasis on serving Asian clients, while Circle continues to focus on the US market.

Also Read: Wirex to Launch Cryptocurrency Debit Cards in Asia During Q2 2018

Improving Global Services at Poloniex

Circle Goes on a Hiring Spree to Improve Service at PoloniexCircle Internet Financial Ltd., the Boston-headquartered fintech startup that acquired Poloniex last month, will reportedly expand the cryptocurrency exchange’s staff with a hundred new employees. The move is meant to improve the operations, customer support and technology for Poloniex clients around the world. Specifically, Circle is said to hire between 25 and 35 extra people to grow its operations in Asia, expanding a local workforce of just ten in Hong Kong and mainland China, and creating new offices for South Korea and Japan.

Besides focusing on localized services, it appears that Circle will also make sure Poloniex cooperates with regulators in different markets. “The long-term view is that every form of value on the planet will become a crypto token. We want to offer more markets, more assets, we want to localize it, and launch it in more international markets and, critically, we need to work with the most important regulators,” co-founder Jeremy Allaire said in a Bloomberg interview.

Expanding Circle Invest in the US Market

Circle Goes on a Hiring Spree to Improve Service at PoloniexWhile Poloniex is expanding to new locations Asia, Circle is expanding the reach of its own services in the US market. The company announced last week that Circle Invest, its native cryptocurrency trading mobile app, has been made available (in early access availability) to residents of forty-six US states (all except for NY, MN, HI, and WY). The app supports bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH),  ethereum classic (ETC) and litecoin (LTC).

Since 2013 Circle has raised about $140 million from major investors, including $50 million venture capital round led by Goldman Sachs. It claims to handle cryptocurrency trade worth over $1 billion per month. Circle reportedly paid $400 million for the Poloniex deal.

Are you looking forward to trade with a more costumer service capable cryptocurrency exchange? Share your thoughts in the comments section below!


Images courtesy of Shutterstock.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

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Source: Bitcoinnews.com

Secretive High-Tech Wall Street Trading Firm is Now Trading Bitcoin

Secretive High-Tech Wall Street Trading Firm is Now Trading Bitcoin

This week Jane Street Capital a global proprietary trading firm has announced it has been trading BTC these days. Often referred to as one of Wall Street’s most secretive investment companies, Jane Street says if cryptocurrencies continue to rise they expect to be involved.

Also read: Championing Decentralized Exchanges, Now Might Be the Perfect Time for Bisq

The ‘Secretive’ and High-Tech Trading Firm Jane Street is Flipping Bitcoins

This High-Tech Wall Street Trading Firm is Now Trading BitcoinThe trading firm Jane Street operated in New York City, London and Hong Kong and the company actively trades $8-13 billion worth of equities, Bonds, Futures, Options, and other investments. Jane Street claims to execute over 1Mn trades per day. The New York Times has referred to Jane Street as one of the most secretive firms out there that handles a lot of trade volume. The news outlet called the traders “coders with a Ph.D.” and the firm specializes in lots of arbitrage trades. According to Business Insider, the firm has explained it is now dabbling in BTC trading.

Arbitrage opportunities in the world of cryptocurrencies and bitcoin are very tempting to firms like Jane Street because spreads can be very high on different trading platforms. Global BTC exchanges can have as much as 10 percent in arbitrage opportunities between each trading venue. Jane Street has not given any details on how it has been trading BTC but explains that if cryptos continue to be hot, the company will continue to remain active.

“Jane Street trades over 56,000 products globally across a wide variety of asset classes, including bitcoin,” the company explains this week.  

Jane Street has always taken a considered approach to trading opportunities and will continue to do so, as more cryptocurrency products emerge, we expect to be involved.

High-Tech Wall Street Trading Firm Jane Street is Trading Bitcoin
Cryptocurrency arbitrage opportunities can be as much as 10% on different exchanges.

Jane Street Follows Other Well Known Wall Street Market Makers

The news also follows other big-name Wall Street firms who have been reportedly trading bitcoin or crypto-based exchange-traded notes and futures products. This year at the World Economic Forum in Davos, Goldman Sachs Lloyd Blankfein explained if clients want to trade BTC they will help facilitate. “We’re clearing futures in bitcoins for some of our futures clients — We’d clear them,” explains Blankfein. “We’re a prime broker, and so if our clients are going to do it, we’re going to do it.”

Back in September of 2017, Jamie Dimon explained that bitcoin traders were “stupid.” But the firm was caught red-handed trading BTC exchange-traded notes for clients. Further, the company has stated it is open to offering clients CME and Cboe bitcoin futures.

Jane Street is different than JP Morgan and Goldman as it uses the Ocaml programming language that helps the firm’s traders quickly execute trades in changing market conditions. The company has even released some open source code for its Ocaml libraries. Jane Street did not reveal to the press how it was actively trading cryptocurrencies.

What do you think of Jane Street trading bitcoin? Let us know what you think about this story in the comments below. 


Images via Shutterstock, Pixabay, and Jane Street. 


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

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Source: Bitcoinnews.com

Monero Miners In Uproar After Panic Algorithm Change Due to ASICs Coming Online

Bitmain has found itself in a war with words with the monero community over the release of its latest cryptocurrency miner, the Cryptonight-capable X3. The unit is being offered at a discounted rate to existing customers, but critics claim this is because the miners will soon be ineffective at mining monero, the main coin to use the X3’s Cryptonight technology. Monero lead developer Riccardo Spagni has emphasized that the units will not work on monero due to a scheduled hard fork designed specifically to outwit the Cryptonight algorithm.

Also read: Large Glassware Plant in Siberia to Mine Bitcoin

Monero’s Crypto Nightmare

“We are pleased to announce the all-new Antminer X3, to mine cryptocurrencies based on the Cryptonight hashing algorithm,” tweeted Bitmain cheerily on March 15. The new units would start shipping instantly, limited to one per customer to prevent hoarding. The price would even be dropped to $3,000 for existing customers, according to an email. Posters on monero’s reddit board have urged buyers not to purchase the units due to the scheduled change to the coin’s Proof of Work algorithm. Others have gone so far as to accuse Bitmain of mining with the machines for months, and only shipping them now that monero’s algorithm is due to change, rendering them useless.

 

Battle of the Algorithms: How Bitmain Sparked an ASIC Mining War

Cryptonight, the chipset fitted to Bitmain’s X3s, has turned into a crypto nightmare for anyone who’s been trying – and failing – to subsist off monero mining this year. As one keen-eyed observer spotted, after Bitmain took possession of the chips, monero’s hashrate rocketed. The monero team, led by Riccardo Spagni, who’s referred to Bitmain as “a known bad actor”, struggled to work out what had happened. A monero mining botnet that had infected millions of computers was one possibility floated, but this was discounted.

To combat the sudden increase in hashrate, Monero announced a PoW change on February 11 to make the privacy coin less susceptible to the Cryptonight algorithm. While not mentioning Bitmain by name, the post noted how “Mining, in general, is also prone to the rich-get-richer effect, which ultimately leads to centralization,” and continued:

We will perform an emergency hard fork to curb any potential threat from ASICs if needed. Furthermore, in order to maintain its goal of decentralization and to provide a deterrent for ASIC development and to protect against unknown or undetectable ASIC development, the Monero team proposes modifying the Cryptonight PoW hash every scheduled fork, twice a year…Finally, we will continue to research alternative Proof of Work functions that may provide better ASIC resistance than Cryptonight.

As a result of the hard fork, the Bitmain X3s will be largely worthless, at least for the purposes of mining monero. All that will be left for recipients of the new X3s is such alts as Bytecoin, Digitalnote, and Darknetcoin: shitcoins to all intents and purposes that cannot be easily offloaded onto the market to offset mining costs.

Battle of the Algorithms: How Bitmain Sparked an ASIC Mining War

Anyone who orders one of Bitmain’s new units will find themselves engaged in a race against time. As one person complained: “Not informing their users that their machine will be useless to mine the biggest and most popular by far crytponight coin is misleading and that is being polite.” By the time they take delivery of their new Antminer, more Cryptonight coins may have hard forked, in which case buyers could wind up lumped with the world’s most expensive doorstop.

Do you think Bitmain has acted unethically, or is it just doing business? Let us know in the comments section below.


Images courtesy of Shutterstock, Bitmain, and Francis Pouliot.


Need to calculate your bitcoin holdings? Check our tools section.

The post Monero Miners In Uproar After Panic Algorithm Change Due to ASICs Coming Online appeared first on Bitcoin News.

Source: Bitcoinnews.com

A Guide to Airdrops Part 2: Bombs Away! (Gold or a Grenade?!)

Airdrops and coin forks have become the hottest new craze within the crypto community. Many airdrops and coin forks have recently taken place with even more lined up for the next few months. Many questions arise when airdrops are analyzed. What is their purpose? Are they a benefit or detriment in the short- and long-term? What is the impact on the underlying cryptocurrency and reaction from the entire markets?

Airdrops, Bombs Away!

Airdrops have become a hot new topic of 2018 with one occurring at least every month. The most recent one was the airdrop of ONT (Ontology) to NEO (NEO) holders occurring March 1, 2018. There are many more coming up in the next few months including one of SHL for PRL (Oyster) holders and an ICO kicking off with an airdrop to members of their community; Solve.Care. It seems cryptocurrencies are using airdrops more and more for a multitude of reasons.  

When the impact of an airdrop is analyzed, it becomes fairly clear they generally increase the value of the underlying tokens in the period prior to the airdrop. However, is there a purpose besides giving a dividend to prior crypto holders while increasing the underlying crypto’s short-term value? Of course, airdrops are everything from a nice dividend to a fantastic advertising strategy. Very few times can individuals get “free” money in any market. Airdrops provide just that, free money. Yes, this money is cryptocurrency, but they all have tangible, actual value. There are multiple types of airdrops impacting the underlying cryptocurrency dramatically. They range from a nice dividend providing a short-term price increase for the underlying cryptocurrency to a fantastic and unique way to spread the world about a new crypto.

To partake in an airdrop is exceptionally easy. The majority of the time the recipient of an airdrop has one sole requirement. Possess the specific underlying crypto stored in your wallet. For the NEO example, NEO had to be held in a wallet to receive the airdrop. With participation exceptionally easy and holders enjoying the free dividends; what could go wrong?

It is exceptionally important to understand the positives and negatives associated with airdrops. Different types of airdrops have different results and impacts on the airdropped coin, the underlying currency, and the general market’s perception of them.

NEO/ONT Case Study

To understand how an airdrop impacts both the underlying crypto (NEO) and the airdropped coin (ONT) it is essential to analyze at least one case study of the different types and purposes for an airdrop. The timeline is very important to understand the benefits and risks of the associated airdrop. Timelines have the ability to demonstrate price fluctuations over an extended period of time providing an understanding of market reactions to airdrop announcements and as the date approaches.

The ONT airdrop to NEO holders was announced on February 12, 2018. February 6, 2018 NEO was trading as low as $66. The day before the announcement of the ONT airdrop, February 11 NEO was trading at $97. February 12, following the announcement NEO was trading above $114. That is an 18 percent increase in under 24 hours. Within the week NEO had spiked to over $140 on February 20, 2018. On February 28, the day before the expected airdrop NEO peaked at over $143. By March 2, 2018, NEO had already touched $123. NEO had a rough week with articles painting the SEC regulations in a negative light dramatically impacting ICO related cryptos. NEO took a battering and is currently traded at $72 per crypto with a market cap of $4.6 billion.

The day before the airdrop NEO was trading at $97 the day after the airdrop NEO was trading at $123. However, these numbers are misleading because two major things occurred during this period. The overall market corrected substantially from a low on February 6, and the airdrop caused both a pump and dump in the price of NEO. The day of airdrop announcement the price of NEO pumped up over 18 percent in 24 hours and 70 percent in 16 days. However, from the day before the airdrop to 24 hours later NEO fell 19 percent and since has fallen a total of almost 50 percent.

It is exceptionally evident airdrops have the ability to dramatically increase and decrease the price of the underlying cryptocurrency as was witnessed with NEO during the airdrop. The key is to learn from past events to understand how to trade them efficiently. NEO’s airdrop was clearly intended to provide a dividend of ONT to NEO holders while providing ONT the exposure of every NEO holder now both owning and understanding what ONT is. This airdrop was able to shift NEO substantially both positively and negatively while providing great exposure for ONT.

As an Advertising Method

The NEO airdrop was equally important as an advertising event for ONT as it was as a dividend for NEO holders. However, when new ICOs begin an airdrop has become one of the go-to methods for an advertising campaign. This is a fairly inexpensive way of providing a token which hopefully will appreciate in value to the new members of the ICO’s community. Usually, there is no cost associated with the airdrop solely the participation in the underlying ICOs community.

An ICO that is just starting April 1, 2018, Solve Care. Is using an airdrop of their tokens to build their community. Their CAN tokens are selling for $0.10 when the ICO begins, and their airdrop provides 100 tokens to all community members who follow their listed process (join their Telegram and create a profile on their website). Is the process worth $1? It depends. This pricing is pre-ICO pricing. What if following the ICO CAN is trading at $1? There are only 350 million total tokens providing a $350 million market cap if CAN reaches $1.00 per crypto. At $1.00 in value for the airdrop, there is not ‘huge’ value in the airdrop, but if the coin appreciates this can be a very easy few hundred dollars. With no risk to joining a Telegram channel and free money waiting to be sent to a wallet, the crypto communities react to airdrops with exuberance. Solve Care is not the first to consider airdrops to spread recognition regarding their project.

POLY (Polymath) is another crypto that has a market cap over $150 million. Following their ICO they also provided an airdrop to crypto holders based on those who joined their community, referred friends, etc. This helped build POLY’s community to thousands of individuals from what had previously been an unknown crypto. Airdrops build major awareness for the underlying tokens while also providing a nice “freebie” to those partaking in the airdrop.

Clearly, an airdrop of tokens for joining a community is an advertising campaign wonderfully disguised. Airdrops seem to benefit the underlying crypto and the community as the crypto is able to build a strong community while spreading the word regarding their new project.

Airdrops Are Great for the Crypto, Great for the Community and Horrible for Volatility!

The title is literally the perfect conclusion when analyzing airdrops. They are provided at no cost to the underlying token holder or for completing a set of tasks. Most traders love “free coins” so the communities are generally very happy to receive free tokens. The cryptocurrency being distributed via airdrop is also receiving huge amounts of publicity and exposure allowing market saturation and penetration to take place. Both the overall crypto community and airdropped crypto benefit significantly from an airdrop.

However, there is a loser, if you can call it that. For those that are opposed to volatility the underlying crypto that is receiving the airdrop will undergo extreme volatility during the period following the airdrop announcement and once again following the airdrop’s occurrence. There is an straightforward solution to this. If you own a crypto prior to an airdrop announcement enjoy the run-up in price that takes place following the airdrop announcement and sell before the airdrop.

Volatility is a major aspect of the crypto atmosphere. Airdrops increase volatility in the short term but also provide a wide range of benefits to the community and airdropped crypto in most cases.

 

To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).

The post A Guide to Airdrops Part 2: Bombs Away! (Gold or a Grenade?!) appeared first on BTCMANAGER.

Source: BTC Manager

Blockpix: Easing the Burden of Image Copyrights with the Blockchain

Take a look around you. In the day-to-day, we see a massive amount of media and art in the form of graphics, advertisements and all forms of visual descriptions. Behind each of these is a professional and artist who has made it their job to create appealing forms that attract the eye to a message.

Each of these images are created and then sold to a company who has found the work to be the best at capturing whatever message they need to evoke. Due to this professionals within this industry have to spend a considerable amount of time and resources to protect their work from those that would steal it and undermine the work they have put in.

Once created an image is copyrighted immediately to the artist responsible, but upholding this can be quite tricky; this is where Blockpix would like to jump in.

Blockpix is starting up with the goal to make things easier for both the creatives who have content they’d like to sell and for anyone who would like to purchase the media by creating a decentralized marketplace capable of quickly upholding these transactions and ensuring clear communication between the parties through smart contracts.

Why Use the Blockchain for Blockpix?

Creators and buyers working within this world have to deal with a huge amount of headaches through contract negotiation. This is to ensure the work is used fairly. However, mistakes can and do occur when filling out these forms for oneself. The alternative to contracting for yourself is to hire a lawyer to handle these matter, but the costs involved can often take a deep cut into potential profits to be made in the media.

Smart contracts here are the solution. These contracts will be able to handle the matters that would normally require, at the very least, a notary to sign off on quickly and efficiently without the possibility of misunderstandings or manipulation. A guarantee that a contract is 100 percent mistake-free is a huge burden of relief taken off of both parties in a transaction and dramatically reduces the time and cost of these types of transactions.

Furthermore, due to the ledger being immutable and completely public, creators of images on Blockpix have an easy to find a way to prove copyright on any images they need to make a claim on. Currently, creators have to deal with their images being stolen by unscrupulous websites and advertising agencies. With Blockpix proof of copyright is as simple as showing where and when it was stored on the blockchain.

The combination of all this leads to a community of creators who are actually able to lower costs and continue to profit, as they will finally have the tools needed to protect and sell their work efficiently.

The photography and still images industry is expected to exceed $4 billion by 2020. An industry of this size needs a way to efficiently and safely transact business, and in the current marketplace, it is never a guarantee. Blockpix seems to have finally found the solution. Check out their full whitepaper and information on their ICO, starting up March 18, 2018, here.

 

BTCManager does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.

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Source: BTC Manager

Moonshot Week 8: SNOV (Marketplace Launching Mar. 31, 2018 or Earlier)

Each week BTCManager and the JaketheCryptoKing are going to explore a new moonshot opportunity. We are in week eight of this moonshot experiment! Markets just suffered a major correction providing the perfect opportunity for some moonshot shopping at discounted prices. The moonshot for the week beginning March 19; SNOV (Snovio).

What is a Moonshot?

A moonshot is an altcoin that can provide returns of investor’s dreams or can be a complete flop. Are there coins that can provide gains of over 1000 percent within a one-year period? Of course, there are! These coins exist in the cryptocurrency marketplaces; they solely need to be found. Moonshots are very different than most cryptos as they are meant to be purchased and held. Moonshot principles are vastly different than those implemented by day traders and short-term holders. They are cryptocurrencies that you see their long-term value and expect returns of hundreds if not thousands of percent.  

This week’s Moonshot is SNOV. They have a very eventful week with their marketplace being launched by March 31, 2018. SNOV is a long-term hold but is also a coin that should see significant price movement in the immediate short term. Moonshots, like most altcoins, truly moon when the utility of the underlying token is increased. In under two weeks, the SNOV token’s utility increases drastically.

Crypto Market Overview

This month has seen an unusually high level of FUD leading to resentment and negative market sentiment. The most recent events that negatively impacted the crypto markets are;

  1. Mt. Gox Bitcoin Dump,
  2. Alphabet (Google) Banning All Crypto-related Ads,
  3. Regulatory Actions (SEC and U.K.).

When sentiment is lowest the opportunity for accumulating is greatest. March is packed with major conferences (similarly to February) which should continue to spread blockchain awareness regardless of what the overall majority of cryptos prices do. The remaining days in March coupled with a bullish April should begin to provide many catalysts to boost both the price of bitcoin and the entire cryptocurrency markets. Moonshots and altcoins are more susceptible to volatility in either direction making a bullish trend in our current rebound a very good buying opportunity.

From the end of January to the beginning of February bitcoin (BTC) suffered one of its greatest corrections in history having fallen more than 70 percent since the all-time high of almost $20,000. BTC bottomed out at a low of just under $6,000 February 5, 2018. Since this moment of panic, BTC has been exceptionally volatile. In the past 30 days BTC has approached $12,000 while also dipping below $8,000. This correlates to a shift in price of 50 percent. With BTC residing at $7,700 per coin, the opportunities within the crypto space are significant. To take advantage of these opportunities make sure to be holding past moonshots; DBC, TNC, DRGN, PRL, KCS, MTL, HIRE, and now; SNOV.

SNOV: Snovio (Marketplace Launch)

The reason SNOV is a moonshot this week is that they are finally releasing their marketplace! A utility token is useless until it has actual utility. For the prior months, the concept of SNOV was just that, a concept. By March 31, 2018, SNOV is finally able to ‘move up to the big leagues’ by bringing exceptional utility to their token. Right now there is nothing you can do with the SNOV token, nothing merchants or users can utilize it for. March 31 that all changes with the release of their online marketplace.

SNOV currently is predominantly traded on Bibox but also has a lower volume on KuCoin. Currently, each SNOV token has a value of $0.032 with a total market cap of $13 million. On January 9, 2018, SNOV was valued at over $0.40 per token. In the past three months, SNOV has fallen more than 90 percent. A drop of over 90 percent would be logical for a crypto being delisted. However, SNOV is only adding exchanges in coming months as they bring utility to their coin within two weeks. The SNOV marketplace creates utility for the SNOV token. If analyzing the prior month’s Top Performing Cryptos has demonstrated anything it is that utility creates value.

SNOV is a token that is currently flying under the radar of most investors and crypto traders. This will likely change with a huge shift in SNOV value when they launch their marketplace.

What is SNOV?

According to SNOV, they are the “First decentralized lead generation platform, which rewards its contributors with tradable SNOV tokens.” As a decentralized lead generation platform SNOV intends to challenge the way lead sourcing works. Currently, a major hiccup in business is sourcing quality leads. This is where SNOV intends to excel. By implementing the blockchain, SNOV can generate leads as specific as “pizzas lovers from Melbourne.” The price per lead will be regulated in a decentralized manner. This will allow for the distribution of the rewards between contributors while providing transaction transparency.

The remaining few weeks have major events outlined by their roadmap. February saw their database grow to over one million profiles. However, the next few weeks are even more exciting with the launch of the proprietary mailing module. This module sends triggered emails regarding updates to contacts within the platform. The most important event is scheduled to occur before the conclusion of quarter one being the Blockchain Marketplace Launch. This platform will connect businesses and Data Research Analysts. This entire ecosystem will be powered by smart contracts using the SNOV token as a means of exchange.

Conclusion: SNOV is Great Both Short and Long Term

In the crypto space, it is always important to purchase long before the expected news. With approximately two weeks before the marketplace platform is launched the SNOV token still has no utility and is at a price 90 percent lower than where it was in January. The SNOV token was highly sought when there was no utility behind it due to speculation. The next step is adding real utility to the token which will remove speculative interests. Utility is what truly drives value in the crypto markets, and SNOV is about to bring utility to what previously had been a useless token.

SNOV should see significant returns if their platform is launched successfully without hiccups or delays. As the utility of the SNOV token increases, the underlying price similarly should correspond. Look for SNOV to have a strong next two weeks leading up to their marketplace launch with long-term success determined by the adoption of their marketplace. Will companies look for discounted high quality leads on the blockchain? Or will SNOV never re-approach its January highs?

With actual utility being weeks away it seems SNOV is poised to begin its bullish trend once again. If the crypto markets turn bullish or begin a rebound, SNOV should see exceptional returns in a very short period of time leading up to their marketplace launch.

 

To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).

The post Moonshot Week 8: SNOV (Marketplace Launching Mar. 31, 2018 or Earlier) appeared first on BTCMANAGER.

Source: BTC Manager

Playboy to Soon Allow Bitcoin and Other Cryptocurrencies Across its Platform

The US-based company, Playboy Enterprises, Inc., has announced that it will start accepting cryptocurrency payments beginning later this year. In a press release dated March 14, 2018, Playboy revealed that it is working on creating an online payment gateway to facilitate cryptocurrency payments across the company’s adult entertainment business. The company will set up a multi-cryptocurrency wallet to enable ease of payment for its audience.

Once the online cryptocurrency payment setup goes live, Playboy will also begin accepting the Vice Entertainment Token (VIT). The token has been specifically created for the adult entertainment industry.

The first platform to start accepting cryptocurrency payments will be Playboy.TV and its visitors will be paid with Vice tokens for watching exclusive content. VIT founder, Stuart Duncan, feels that the existing ad-driven business model of adult entertainment websites is deeply flawed. He argues that there is a need to reward users through tokens to increase their engagement with the platform. Users will be able to redeem their VIT tokens on the Playboy platform.

Playboy, originally founded in 1953 as an American men’s lifestyle and entertainment magazine, has experienced a huge reduction in its earnings due to other adult websites. There have also been several instances of piracy when a video made exclusively for Playboy’s platform was distributed on other websites. Since the content was freely available on other websites such as Pornhub, it resulted in a revenue loss for Playboy.

A New Chapter for Playboy?

Most of Playboy’s revenue today comes from licensing its brand name to other merchants. In 2015, its magazine and digital publishing brought in $38 million while licensing rights raked in $55 million. Playboy has been steadily trying to move in a profitable direction after the death of its founder Hugh Hefner. There were also reports in January 2018 that it would exit the print magazine business due to excessive losses.

Reena Patel, Chief Commercial Officer and Head of Operations at Playboy, said, “As the popularity of alternative payment methods continues to grow around the world, along with the reach Playboy’s digital platforms, we felt it was important to give our 100 million monthly consumers increased payment flexibility.”

She further asserted her belief that this move would turn out to be a game changer, “This innovation gives the millions of people who enjoy our content, as well as those in the future who participate in our casual gaming, AR and VR platforms, more choices with regard to payment and in the case of VIT, an opportunity to be rewarded for engaging with Playboy offerings.”

The move is not the first instance of Playboy accepting cryptocurrency payments though, as Playboy Plus has been accepting bitcoin from as early as 2014.

Adult Industry Continues to Adopt Crypto

Another adult website, Xhamster, has also been accepting cryptocurrency. Its project manager stated, “Bitcoin profit is not as big compared to traditional billing methods yet, but it’s growing. What’s very important for our members, it’s anonymity (actually pseudonymous).”

The adult entertainment industry has been steadily adopting cryptocurrencies. A website saw its sales rise by more than ten percent after it began accepting payments in bitcoin. One reason why more subscribers are using digital tokens to pay at such websites is to keep their identity anonymous.

It remains to be seen how accepting cryptocurrency payments will turn out to be for Playboy. Some critics argue that the price of bitcoin and ether is too volatile, causing the rates provided on the Playboy platform to fluctuate. Another argument is that the transaction fee of most cryptocurrencies may turn out to be a major deterrent to user adoption.

The post Playboy to Soon Allow Bitcoin and Other Cryptocurrencies Across its Platform appeared first on BTCMANAGER.

Source: BTC Manager

Peter Thiel Believes in the Future of Bitcoin as the Digital Gold of a New Era

Venture capitalist Peter Thiel is a strong supporter of cryptocurrencies and would bet in bitcoin to be the “biggest” of its kind. The venture capitalist is known being a long-time supporter of bitcoin. After stressing the potential of cryptocurrencies at a conference during October 2017, Thiel has followed up with strong conviction that echoes bitcoin maximalists.

According to CNBC, the former Trump advisor and early Facebook investor, was willing to bet on bitcoin as it is the biggest cryptocurrency, meaning that the digital currency is the strongest of its kind with about 42 percent of the total market share according to CoinMarketCap. Thiel is betting on bitcoin not only for its size but for the possibility that it can become a gold-like asset. On March 8, during a consultation at the Economic Club of New York, Thiel said:

“I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one you’d bet on would be the biggest.”

However, the financial expert’s optimism does not come without alarm as Thiel stressed, “I’m not sure I would encourage people to run out right now and buy these cryptocurrencies.”

Bitcoin as a Gold-like Asset

Thiel pointed out to the fact that as a means of exchange, bitcoin is too “cumbersome,” but as that it could perfectly act as a store of value. He said that he backed the idea of bitcoin becoming a “store of value instead of a go-to currency for daily transactions.”

PayPal’s co-founder revealed that he saw bitcoin as a gold-like asset of some sort that could be easily traded. Thiel stated:

“I’m not talking about a new payments system. It’s like bars of gold in a vault that never move, and it’s a sort of hedge of sorts against the whole world going falling apart.”

Bitcoin Can be Exceeded

The venture capitalist also commented on the future of Bitcoin stressing that there’s a chance some other competitor such as Ethereum could end up taking its place. He also stated that other developments down the road may introduce better and more innovative features which could easily sentence bitcoin to a slow death.

He also reckons that there is a 50 to 80 percent chance that bitcoin could end up being worthless, and another 20 to 50 percent chance it ends up going to new highs, “Probability weighted it’s good, and the question of how to time this I’m not going to try to do that precisely.”

In early January, the Founders Fund, a San Francisco-based venture capital firm investing in companies building revolutionary technologies directed by Thiel, bought about $15 million to $20 million of dollars in bitcoin. 24 hours after the report bitcoin’s price went rose by about nine percent.

The post Peter Thiel Believes in the Future of Bitcoin as the Digital Gold of a New Era appeared first on BTCMANAGER.

Source: BTC Manager

Strength in Numbers: a Brief History of 51% Attacks

Ever since the first decentralized blockchain-based cryptocurrency (Bitcoin), there have been attempts at a network takeover, termed a “51% attack.” These occur when an individual or group of miners controls more than 50% of the networks hashing power, enabling them to create a fork of the blockchain that is constructed faster than the original. By doing this, the attacker is able to perform a double spend attack, whereby they send coins in the original blockchain until they are confirmed, and presumably, they’ve received their product or service. Once achieved, the attacker could then split the blockchain at a point prior to the transaction, essentially reversing and erasing it.

Other than revising the transaction history, such an attacker would also be able to prevent any transactions or new blocks from confirming, thus almost completely interrupting the network. They will not be able to generate coins out of thin air, change the block reward or gain access to other people’s coins, however, a 51% attack has limited utility, and is likely to be prohibitively expensive to carry out.

Example attacks

Due to the massive amounts of computing power required to successfully execute an attack on a well-established blockchain, these types of attacks are usually limited to smaller coins with a limited number of miners comprising its hashing network. Often, one or more test attacks are found that precede the main event, it is thought that the assailing party will launch an attack against a similar crypto, or testnet, before redirecting their efforts to their main target.

One of the earliest examples of a successful majority attack was executed against CoiledCoin, a shameless bitcoin clone with a few additional features. They were attacked by Luke-Jr using the Eligius mining pool. In his response to critics, Luke-Jr reports that his attack was aimed to shut down potential pyramid schemes that tarnish the reputation of Bitcoin, whilst indicating that future scams would be subject to the same fate.

Besides CoiledCoin, projects like Terracoin, Feathercoin, and many others have fallen victim to a majority attack. One of the standout examples was executed against the Krypton network, which was subjected to a less common attack that used a new dual-pronged approach, combining majority hashing power with a distributed denial of service (DDoS) to existing nodes to artificially increase the relative hashing power of the attacking party. During this attack, around 21,000 KR was stolen from the Krypton blockchain, which was sent to Bittrex and exchanged for Bitcoin, after which the attackers reversed the transactions by rolling back the blockchain, before making off with the Bitcoin. Following this event, Krypton suggested that all exchanges raise the minimum confirmation amount to 1000, to increase the difficulty in reverting the blockchain to an earlier state. Many believe that the Krypton attack was, in fact, a dry-run for a future attack on Ethereum, something that has still yet to occur.

Is Bitcoin vulnerable to such an attack?

So far, you’ve learned that executing a successful 51% attack on a large blockchain requires massive amounts of hashing power. You might think that such an attack would, therefore, be almost impossible for Bitcoin, the largest blockchain with a total hash rate of almost 27 Exahashes (that’s 27 million trillion hashes per second). You’re wrong. In fact, many mining pools have approached the power necessary to successfully initiate a 51% attack, for example, in July 2014, GHash.io, then one of the most popular bitcoin mining pools, managed to exceed 51% of the total hashing power of the bitcoin network. This lead many to believe that a majority attack on the bitcoin network was imminent. However, in response to this controversy, GHash.io released a voluntary statement promising not to exceed 39.99% of the total hashing power in future and asked other mining pools to commit to a <40% hash rate limit to protect the long-term safety of the blockchain.

Although most majority attacks are expected to be perpetrated by an unknown agent for financial gain, there have also been examples where two blockchains attack one another in an apparent takeover attempt. One example of this occurred in 2016, where Ethereum Classic users rallied to launch a majority attack on Ethereum in an attempt to kill it off. Though this attack was never launched, it shows that tensions between rival cryptocurrencies may eventually culminate in such attacks.

Defense against

Nowadays, there is a much larger selection of mining pools, ensuring that the hashing power is more widely distributed. Currently, the largest Bitcoin pool is BTC.com which encompasses 25.9% of the network, whereas AntPool is a close second at 16.9%. Although they are both controlled by Bitmain, even the combined number is certainly too low to even consider an attack. The outlook is similar with Ethereum, where Ethermine, the current largest pool accounts for around a quarter of the number of blocks mined. It should be noted that with less than 50%, an attack can still be mounted, but is unlikely to succeed, it is estimated that somebody with just 40% of the hashing power has around a 50/50 chance to reverse a transaction 6 confirmations deep. Furthermore, certain cryptocurrency implementations based on proof-of-work principles or tangle are subject to attacks if only 34% of the network hashing power is attained, the IOTA team, for example, recognized this risk and implemented mitigation measures early in its development.  

Conclusion

All in all, 51% attacks are of little threat to well-established cryptocurrencies and will likely continue to fade into obscurity as decentralization increases. However, these attacks still pose a significant threat to new coins, particularly if the attack is being maintained for a significant period of time, at which point the changes may become irreversible. Moving forwards, rig operators should refrain from joining the largest pools, despite the obvious benefits, whilst remaining vigilant.

 

Images via Pexels.

Source: Crypto News