Messari Launches Disclosure Registry To Boost Transparency in the Community

Token Curated Register Messari Hopes to Normalize the ICO Space

Messari, a startup that provides markets data, curated insights, and research tools for cryptocurrency investors has launched a disclosure registry for projects to upload information concerning their cryptoassets. According to the press release published on November 27, 2018, the disclosure registry’s goal is to make it simple and easy for anyone in the cryptocurrency industry to learn more about the…Read More. The post by Cindy Huynh appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Source: BTC Manager

SEC Chairman Jay Clayton Reveals Why The Regulator Will Not Approve A Bitcoin ETF

Jay Clayton, the Chairman of the US Securities and Exchange Commission (SEC), mentioned at a conference in New York that it’s unlikely for regulators to approve a Bitcoin Exchange Traded Fund (ETF) anytime soon. According to UK Business Insider’s Article published on November 28, 2018, Clayton believes that the current security measures around cryptocurrency asset custody are not adequate, as…Read More. The post by Cindy Huynh appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Source: BTC Manager

Investors Beware: Cryptocurrency Reviews Are for Sale, and They’re Cheaper Than You Think

cryptocurrency reviews for sale

Social media personalities charge thousands of dollars for video reviews, while research houses accept payments in the digital currencies they’re analyzing, casting a shadow on the transparency of the crypto industry, Reuters uncovered in a November 27, 2018 report. Positive Coverage up for Sale The practice of cryptocurrency issuers buying positive coverage for their digital coins is more common than…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Source: BTC Manager

Korean Lawmaker Introduces Bill to Promote Cryptocurrency Trading

Korean Lawmaker Introduces Bill to Promote Cryptocurrency Trading

A South Korean lawmaker has reportedly introduced a bill to promote cryptocurrency trading and the development of crypto exchanges. In addition to requirements such as capital, manpower, and internal systems, the bill proposes establishing a committee to promote and support crypto trading.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Promoting Crypto Trading

Korean lawmaker Kim Sun-dong, a member of the National Assembly’s Political Committee, announced last week that he has initiated the Digital Asset Trading Promotion Act, local media reported. Seoul Finance elaborated:

‘The Digital Asset Trading Promotion Act’ includes a comprehensive plan for establishing a guideline for promoting the development of virtual currency exchanges and blockchain technology, tax reduction and exemption, measures against hacking damage, and prevention of market disturbances.

Korean Lawmaker Introduces Bill to Promote Cryptocurrency Trading
Kim Sun-dong.

Kim emphasized the need for a law dedicated to promoting crypto businesses to avoid companies leaving Korea, citing Bithumb as an example. He pointed out that even though crypto transactions in Korea accounted for a large percentage of the domestic stock market transactions at the beginning of this year, one of the largest crypto exchanges, Bithumb, was recently sold to a Singapore-based consortium.

He also noted that Japan has already completed legislative procedures to institutionalize crypto transactions and the U.S. has allowed the trading of cryptocurrency derivatives.

About the New Crypto Bill

The bill first defines “virtual content with an apparent value such as online money, points, game items and virtual currencies as digital assets,” the publication detailed. It also defines the operators dealing with them as digital asset trading companies. The news outlet added:

Those who want to operate a digital asset trading business should have more than 3 billion won [~$2.66 million] in capital, enough manpower, computerized systems, and physical equipment to be approved by the Financial Services Commission [FSC].

Korean Lawmaker Introduces Bill to Promote Cryptocurrency TradingIf an exchange is hacked and its customers suffer losses of crypto assets, the bill submits that the exchange must assume the liability for damage to the traders.

The publication added that some examples of industry promotion mentioned in the bill include the establishment of a digital asset trading committee, the promotion of research and development projects, financial support, professional training, and tax reduction. According to Metro Seoul newspaper, the committee will be tasked with resolving issues requested by the FSC such as setting standards and policies relating to crypto assets, as well as coordinating between relevant administrative agencies.

Kim was further quoted as saying:

The government is focusing only on the risk of virtual currency and concentrating only on the crackdown of illegal activities … In order to lead the global trend of blockchain technology development, it is necessary to prepare laws and regulations as soon as possible.

What do you think of this new Korean crypto bill? Let us know in the comments section below.

Images courtesy of Shutterstock, Seoul Finance, and the FSC.

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Huobi Debuts Cryptocurrency Derivatives Market Platform

Huobi DM

Huobi just announced the launch of its cryptocurrency derivatives trading service – Huobi Derivative Market (Huobi DM). The Singapore-based exchange says the platform will initially handle USD-denominated Bitcoin Contracts.

Huobi Cryptocurrency Derivatives Market

The cryptocurrency exchange platform announced the launch of Huobi DM at the Cryptofrontiers conference in New York on Wednesday (November 28, 2018).

According to the company, Huobi DM represents the next big thing in virtual currency trading combining cryptocurrency derivatives and a plethora of digital asset trading services.

Commenting in the launch, General Counsel of the company’s Global Institutional team, Joshua Goodbody, said:

Cryptocurrency is a rapidly expanding and maturing market. As part of that maturation, we see more and more sophisticated investors and traders from more established financial markets looking to gain exposure, including institutional players. At the same time, we think many experienced, successful cryptocurrency traders are looking for a broader range of investment tools than has traditionally been available. Huobi DM is tailor-made to address these sorts of needs.

Huobi DM will offer weekly, bi-weekly, as well as quarterly contracts. Settlement for the weekly and bi-weekly contracts will occur on Fridays, while that for the quarterly contracts comes up on the last Friday at the end of each quarter – March, June, September, and December.

Unique Advantages of the Platform

While Huobi recognizes that it isn’t the only player in the virtual currency derivates market, the company remains confident of the uniqueness of its offering. According to Huobi, its crypto derivatives platform has some advantages over similar services in the market.

For one, Huobi DM offers flexible leverage options (1X, 5X, 10X, and 20X), as well as robust risk management protocols. The platform also offers zero trading fees for market makers and investor protection which includes a 20,000 BTC insurance fund against all forms of losses.

According to a statement on the company’s website, BTC contract will be the first to be launched on Huobi DM. The BTC contract will be USD-denominated with the cryptocurrency itself serving as the means of settlement for trading profit/loss.

The statement also revealed that each BTC contract has a face value of $100 with the minimum change in order book price set at $0.01. Huobi DM is already in Beta testing but is not available to the following countries.

The United States of America, Singapore, Israel, Iraq, Hong Kong (China), Cuba, Iran, North Korea, Sudan, Malaysia, Syria, Samoa Eastern, Puerto Rico, Guam, Bangladesh, Ecuador, and Kyrgyzstan.

Do you think Huobi DM will be able to fare favorably with the other cryptocurrency derivatives platforms in the market? Let us know your thoughts in the comment section below.

Image courtesy of Twitter (@HuobiGlobal), Shutterstock

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Source: Bitcoininst

BCH Upgrades: What’s New and What’s Next

It’s been two weeks since the Bitcoin Cash (BCH) hard fork that upgraded the BCH chain and resulted in a blockchain split. But although many people have been focusing on the birth of Bitcoin SV, a number of BCH proponents are already moving forward and discussing the network’s latest upgrades, as well as the next hard fork scheduled for May.

Also Read: Free Keene Activists Launch Tip-Card Creator Called

BCH Chain Upgrades

BCH Upgrades: What's New and What's NextThe Bitcoin Cash (BCH) blockchain has split and many supporters are ready to move on, as the hash war is said to be over because the Bitcoin SV developers have revealed that they will add replay protection. But with all the focus on the emergence of a new chain, many people haven’t even noticed that the BCH software has been upgraded. For instance, new protocol changes have been applied to the blockchain, including a clean stack for more efficient script evaluation, canonical transaction ordering (CTOR), an enforced minimum transaction size, push-only for scriptsig, and the addition of the opcode OP_Checkdatasig.

The Most Discussed Additions to the BCH Chain

The two recent fork additions, OP_Checkdatasig and CTOR, have been the topic of intense discussion over the past few weeks. With CTOR, transactions within a block are sorted differently, while removing the limits of topological transaction ordering (TTOR). Developers believe CTOR removes a lot of the complexity of block template creation time. When coupled with the Graphene protocol, the chain could see a more efficient method of broadcasting blocks as well.

BCH developer and cryptocurrency miner Jonathan Toomin has published a comprehensive description of CTOR, while blockchain researcher Joannes Vermorel has also written about the protocol in great detail. And explains that Bitcoin ABC developers believe CTOR “will have huge payoffs for the future of Bitcoin Cash.”

BCH Upgrades: What's New and What's Next
OP_Checkdatasig and CTOR are the most discussed upgrades to the BCH chain.

The other widely discussed addition to the Bitcoin Cash protocol was re-enabling the old opcode OP_Checkdatasig to improve the BCH script language. Basically, when someone uses the opcode OP_Checkdatasig, it calculates the hash within a transaction and checks the signature against that data set, which essentially validates or invalidates the signature in an autonomous fashion. Proponents of OP_Checkdatasig believe the script language can allow many different contract-like concepts, including permissionless cross-chain atomic swaps, native tokens and oracles. Bitcoin ABC developer Mengerian has written a detailed analysis of OP_Checkdatasig, in which he explains how the opcode could allow many types of decision-based transactions and smart contracts.

BCH Upgrades: What's New and What's Next
Bitcoin ABC’s plans for Bitcoin Cash technical engineering going forward.

New Opcodes and Schnorr Signatures

Now that these new features have been added to the BCH chain, many are wondering what’s coming in the next hard fork, scheduled for May 2019. The Bitcoin ABC development roadmap published last August shows there are many different features planned for future software. Back in October, Bitcoin Cash developer Shammah Chancellor (Micropresident) also published a suggested specification for the May fork, so developers could discuss the proposal. Over the last few weeks, BCH developers such as Mark Lundeberg, Awemany, Andrew Stone, Mengerian and Jason Cox have been discussing the proposed specifications in great detail.

BCH Upgrades: What's New and What's Next
2019 Hard Fork Specification Draft Proposal #143 on Github

The specifications under discussion include re-enabling the following opcodes: OP_Mul, OP_Invert, OP_Lshift and OP_Rshift. These specific opcodes are the same ones that were recently implemented on the BSV chain and they could add various scripting abilities and possibly allow for concepts such as Rabin signatures. The other specification listed on the proposal is enabling Schnorr signatures on the BCH chain.

The benefits of Schnorr signatures has been discussed in great length within the cryptocurrency community and the signature algorithm could theoretically advance scaling by reducing bandwidth and storage by 25 percent. The Schnorr scheme also offers privacy benefits if the protocol is coupled with concepts like transaction tumblers. Essentially transaction signatures could be obfuscated by tweaking shuffling software in the same fashion as mixing the inputs and outputs of combined BCH values.

BCH Upgrades: What Was Added Last Week and Discussing What's Next
There’s still a lot of time for the community and developers to discuss the next upgrade.

6 Months to Discuss

BCH proponents on the subreddit r/btc have also discussed the developer’s documentation, with one person commenting that they appreciated that the development has been “progressing normally.” Other BCH enthusiasts in the r/btc conversation started asking when the next block size increase would take place. The well-known BCH community member Homopit has already provided a response, stating that “The limit is now 500x above demand — Developers are working on more important things — 40-minute propagation for the 64MB block on BSV chain. Remember?”

Of course, the proposed specifications are only on the table for discussion at the moment, but it’s good for BCH proponents to get a glimpse of possible development plans. There’s also six months left and plenty of time for debate about the consensus changes slated for next spring.

What do you think about the recent additions to the Bitcoin Cash blockchain and the proposal for the upcoming May 2019 hard fork? Let us know what you think in the comments section below.

Images via Shutterstock, Pixabay, and Github.  

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Canada’s Leading Jewelry Brand Birks Group Now Accepts Bitcoin

Birks Group

Canada’s largest jewelry brand Birks Group will reportedly allow its users to pay for their products with Bitcoin as the company enters into a partnership with BitPay.

Canada Sees Continuous Adoption

Regardless of the recent declines in the cryptocurrency market, Bitcoin’s widespread adoption continues. In an official press release, Birks Group – Canada’s leading luxury fine jewelry brand, announced that it will begin accepting Bitcoin for its products.

The company has come to an agreement with BitPay, purportedly the largest blockchain payments provider, and will now accept Bitcoin (BTC) 00 at selected stores throughout the country. Reportedly, Birks Group is also the very first luxury retailer in Canada to allow purchases made with Bitcoin.

Speaking on the matter was Jean-Christophe Bédos, President and CEO at Birks Group, who noted:

It is of great significance to Birks Group to launch BitPay. […] As an internationally growing brand, we believe that BitPay will benefit our customers as we look to align ourselves with these innovative capabilities that are on the forefront of technology.

MapleChange canada

Makes ‘Perfect Sense’

According to the Chief Commercial Officer of Bitpay, Sonny Singh, Birks Group’s makes “perfect sense.” He explained:

Birks Group has a large number of international shoppers so allowing them to pay in bitcoin makes perfect sense. […] Accepting bitcoin helps Birks Group to cater to their high-end international clients and get new customers while providing an innovative and safe payment option.

What’s more, the company’s move seems to fall in line with Canada’s overall cryptocurrency environment. Bitcoinist reported that the country has seen an increase in Bitcoin ownership in the last year.

It also appears that companies in different industries are embracing Bitcoin at rapid temps. Earlier this month, the country’s first Bitcoin-backed loan was issued by a local company, using the cryptocurrency as a collateral.

What do you think of the cryptocurrency environment in Canada? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock

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Source: Bitcoininst

Markets Update: Bull Trap or Reversal? Traders Question the Recent Crypto Spike

Markets Update: Bull Trap or Reversal? Traders Question the Recent Crypto Spike

Three days ago the crypto-economy suffered deep losses, with digital asset prices at their lowest across the board since September 2017. But on Wednesday the digital asset ecosystem started showing a slight recovery, as the entire market capitalization of all 2000+ coins gained $14 billion.

Also Read: Free Keene Activists Launch Tip-Card Creator Called

Cryptocurrency Markets Show Slight Recovery

Cryptocurrency markets are doing much better today than they were three days ago, when we published our last markets update. For instance, most of the top 10 digital currencies are up between 12-18% over the last 24 hours. Bitcoin SV (BSV) has only increased about 0.44% today, but this is after spiking more than 90% over the last seven days. Bitcoin core (BTC) is hovering around $4,268, after reaching a 24-hour high of $4,332. BTC is up 15.2% in the last 24 hours but is still down 4.3% for the week.

Markets Update: Bull Trap or Reversal? Traders Question the Recent Crypto Spike
The top 10 markets on Nov. 28, 2018

The second-largest market valuation, held by ripple (XRP), is up 13.7%, with each XRP trading for $0.39. Ethereum (ETH) has seen a 16% increase this Wednesday and ETH is being swapped for $124 per coin. Stellar (XLM) has captured the fifth spot once again and each coin is trading for $0.16. Stellar is up more than 17.3% over the past 24 hours, but it lost more than 17% last week.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) market action is better today as well, with an 8.9% gain during the last 24 hours. BCH is trading between $195-219, depending on the exchange, and has a $3.34 billion capitalization. Global BCH trade volume has increased to $120.53 million and BCH is the 14th most-traded cryptocurrency by volume.

Markets Update: Bull Trap or Reversal? Traders Question the Recent Crypto Spike
BCH/USD 1-day. 11-28-18.

The top exchanges trading the most BCH include Lbank, Bluebelt, Hitbtc, Bitbank and Bitlish. Ethereum is still the top currency swapped for BCH this week, as (ETH) commands 46.4% of BCH trades. The ETH/BCH pair is followed by BTC (28%), USDT (17%), KRW (3.3%) and JPY (3%).

Markets Update: Bull Trap or Reversal? Traders Question the Recent Crypto Spike
BCH/USD 4-hour. 11-28-18.

BCH/USD Technical Indicators

The four-hour BCH/USD charts on Bitstamp show bulls are trying to keep above the $200 range. The long-term 200 Simple Moving Average (SMA) is still above the short-term 100 SMA, but the trendlines look as though they may cross hairs soon. Currently, this means the path toward the least resistance is still toward the downside. The four-hour Relative Strength Index (RSI) is still hovering in the middle between oversold and overbought regions, showing uncertainty in the midst. Looking at order books, bulls need to press past the current vantage point and keep above the $200 range. On the backside, if bears regain control there are some fairly solid foundations between now and $155.

Markets Update: Bull Trap or Reversal? Traders Question the Recent Crypto Spike
BCH/USD four-hour, Bitstamp at 3:20 p.m. EST on Nov. 28, 2018

Skeptics Unmoved by Market Optimism   

Overall lots of traders are hoping the bearish cycle of declining prices will end while others are itching for even lower prices. This Wednesday’s trading sessions has given a few traders some optimism but skeptics believe the reversal could be another dead cat bounce like the multitudes of traps that have appeared this year this year. Meanwhile, the low prices may be attracting mainstream observers as well as Google Trends data reveals that people searching the word “bitcoin” on the web has increased significantly.

Where do you see the price of BCH, BTC and other coins heading from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Images via Shutterstock, Trading View, and Satoshi Pulse.

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Ethereum Price Analysis Nov.28: ETH Rebounds 20%. Will It Hold?

The market had finally started its upward correction, with Bitcoin price running up by 15% from the $3600 support, Ethereum is up by 21% from the $98 bottom to $118 as of now.

This correction was anticipated after the massive declines since BTC broke down the descending triangle formation in the daily chart, precisely two weeks ago.

Since the start of this bearish sentiment, every correction has been pretty flat, and now, for the first time, we see the bulls fighting to gain some momentum.

At the moment, it’s too early to determine whether this bounce is a beginning of a change in the trend’s direction, or just a temporary correction before diving even deeper towards the $3000 price.

Looking at the 4 hours chart

At the time of writing, Ethereum is being traded around the $120 price level and is attempting to break above the $120 – $124 support-turned resistance level.

Notice how the round number $100 has acted as a healthy support level and was held well against the bears’ efforts. It is a mentally strong number and a logically right spot for bulls to leave their buy-limit orders around. As mentioned in our previous analysis, the bounce after reaching the $100 was expected.

ETH Forecast

If the bulls keep up their excellent work and ETH breaks above the $120 – $124 resistance level, then The 55EMA might be the next target – at $128 price level or even higher: at the $135 – $137, where lies the next resistance level from the daily chart.

On the other hand, if the resistance level holds, and the bears try to regain power, then ETH will probably get down to retest the $100 area.

ETH/USD BitStamp 4-Hours Chart


Cryptocurrency charts by TradingView. Technical analysis tools by Coinigy.

The post Ethereum Price Analysis Nov.28: ETH Rebounds 20%. Will It Hold? appeared first on CryptoPotato.

Source: Crypto Potato

Outrage Over Union Bank of Nigeria’s Threat to Close Crypto-Related Accounts

Nigerian digital asset owners have reacted angrily to Union Bank’s threat to close all cryptocurrency-linked accounts. Investors have accused the local banking system of hypocrisy, asserting that banks are “unfit” and “scammers” that continue to steal from the poor through spurious charges such as ATM maintenance fees and SMS alerts.

Also read: Nigeria’s Union Bank Threatens to Shut Down Cryptocurrency-Related Accounts

‘Illiterate Banks Stifling Innovation’

Union Bank of Nigeria will with immediate effect begin monitoring accounts used for digital currency trading with a view to shutting these down without explanation, the bank said in notices to its customers this week. The bank claims it is acting in line with past warnings from the Central Bank of Nigeria (CBN) on virtual currency trading.

However, cryptocurrency and blockchain enthusiasts riled by the bank’s decision have taken to Twitter to express their disgust, questioning the integrity and financial literacy of the banking sector.

Outrage Over Union Bank of Nigeria’s Threat to Close Crypto-Related Accounts

Adekola Seyi initiated a thread accusing Union Bank of lacking basic research abilities and faulted the country’s financial system for retrogressive tendencies. Seyi regretfully hinted that other conservative banks may soon be following suit.

Another Twitter user, Omuswe Precious, said that Nigeria’s banks are hostile to innovation while the world is fast moving ahead. He posted:

Y’all sit there lazying about while d global market cap for cryptocurrencies is already worth more than your ancient institution. Guess this sort of laziness is d reason it takes your bank over 10 working days to reverse failed transactions whn other banks are on auto-reversal.

The collective outrage follows a statement issued by the bank to its account holders warning them to desist from transacting in cryptocurrency, in which it said: “In order to guarantee the security of our customers’ funds, Union Bank will monitor accounts being used for cryptocurrency transactions and may impose restrictions including closure of such accounts.” The 100-year-old bank cited a series of cautionary statements from the CBN, which apparently do not completely prohibit virtual currency trading, to support its decision.

‘Worst Scammers’

Precious said the move was characteristic of the hypocrisy of Nigerian banks, whom he described as the “worst scammers.” He called out banks for manipulative charges for SMS alerts, card maintenance and other unmerited fees that are poisoning public trust in the institutions.

Outrage Over Union Bank of Nigeria’s Threat to Close Crypto-Related Accounts

“Come to think of it, the ATM maintenance fee that gets deducted from customers’ accounts hasn’t been labelled as scam yet! Our banking system is unfit and am sure one day banks will be a store for private keys and wallet addresses,” tweeted Awosika Ayodeji, echoing this sentiment.

Seyi broke down the operation of blockchain in simple terms to illustrate Union Bank’s supposed misreading of both the technology and the CBN directive. “Blockchain transactions are not done on your [bank’s] network … then why the cry. Why can’t you tell #Nigerians how you will block what is not happening on your system?”

Another Twitter user put the bank’s statement down to financial illiteracy on the part of the its staff. “I see we don’t go this way cos of our underpaid brothers and sisters that still work in the banks. However I dared @Unionbank_Ng to on behalf of the central bank publish their detailed report on #cryptocurrency and their research studies on #blockchain!”

Outrage Over Union Bank of Nigeria’s Threat to Close Crypto-Related Accounts

In January 2017, the central bank released a circular to financial institutions asking them not to use, hold or trade virtual currencies pending “substantive regulation and or [a] decision by the CBN.” A follow-up in February 2018 reiterated the same warning, adding that “virtual currencies are not legal tender in Nigeria … we wish to caution all and sundry on the risks inherent in such activities.”

The Union Bank’s sudden decision to monitor accounts has sent panic into Nigeria’s digital asset community. Reports have started to emerge of nervous crypto investors already withdrawing their money to avoid the possibility of their accounts being frozen.

What are your thoughts on banks closing accounts that have links with cryptocurrency? Let us know in the comments section below.

Images courtesy of Shutterstock.

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