Report: ICO Funding Stumbles in Q3, Regulation a Primary Factor

A recent report details just how weak initial coin offering (ICO) fundraising is becoming amidst the persisting 2018 crypto bear market, with Q3 being the least successful fundraising quarter for ICOs so far this year.
ICO Fundraising Drops Sharply in Q3
The report, which was conducted by independent research firm, ICORating, notes that a total of just over $1.8 billion was raised by a total of 597 ICO projects in Q3 2018, down significantly from the over $8.3 billion that was raised in Q2 2018.
Earlier this year, investors were clamoring to throw money into just about any ICO project that asked for it, but the persisting bear market and poor performance of tokens has led to increased fundraising difficulty, with 57% of ICO projects not being able to raise more than $100,000 USD.
Although most ICO tokens that are available for trading have had a terrible year, the report also explains that only 4% of ICO tokens have actually been listed on exchanges, making them an incredibly illiquid and risky investment.
Related Reading: German Regulator Advises Investors to “Keep Their Hands Off” ICOs
Factors Behind ICO Fundraising Drop
The report specifically notes that there are multiple primary factors contributing to the drop in ICO fundraising, including the high frequency of scams and fraud, uncertainty regarding regulation, a decline in value of some of the most hyped ICO products from earlier this year, and a general disappointment in the state of the markets.
A lack of transparency within many projects is one source of fear for investors, as it leads to increased uncertainty regarding how trustworthy the team leading the project is. The fear that stems from a lack of transparency in the industry is due to the amount of news regarding ICO-related exit scams.
“The market in Q3 shows signs of overall disappointment in traditional ICOs as a means of venture financing… The key problem with ICOs is that a vast number of them are scams or scam-like projects…”
Furthermore, regulatory uncertainty regarding the ICO industry is a huge contributing factor behind the drop in fundraising, as it is likely that many of the tokens resulting from ICOs are in fact securities products.
The report discusses this factor, saying that “a vast number of them [ICOs] are scams or scam-like projects, and the fact that some tokens sold were actually securities, meaning that they violate U.S securities law, forcing the Securities and Exchange Commission (SEC) to take action.”
Recently, the U.S. SEC released a report that said reducing ICO-related fraud is among their top priorities.
In the SEC’s annual 2018 enforcement report, the regulatory authority explained that the complex technological nature of ICOs makes them the perfect venue for scamming unsuspecting retail investors, and their international nature makes it difficult to enforce existing laws that are being violated by nefarious projects.
“Additionally, in partnership with the Division’s Cyber Unit and Microcap Fraud Task Force, as well as the Division of Corporation Finance’s Digital Asset Working Group, the RSTF has launched a lead-generation and referral initiative involving trading suspensions related to companies that purport to be in the cryptocurrency and distributed ledger technology space,” the SEC explained.
Although ICOs were a popular fundraising method in 2017 and early-2018, as regulations begin unfolding they may increasingly become an inefficient and legally dangerous way for projects to raise money.
Featured image from Shutterstock.
The post Report: ICO Funding Stumbles in Q3, Regulation a Primary Factor appeared first on NewsBTC.
Source: New feedNewsBTC.com

Monero [XMR/USD] Technical Analysis: Privacy coin to be suffocated by bear’s grip

The cryptocurrency market witnessed the wrath of the bear as most of them plunged to their lowest point of the year. Along with crushing the whole market, the bear also stomped on investor sentiments, resulting in some existing the space.
The top 10 coins which are seeing a double-digit fall in the past 24-hours includes, Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], EOS, Litecoin [LTC], Cardano [ADA] and Monero [XMR].
According to CoinMarketCap, at press time, Monero [XMR], a popular privacy coin, is trading at $89.26 with a market cap of over $1 billion. The cryptocurrency has a trading volume of more than $36 million and has plummeted by 14.34% in the past 24 hours.
1-hour
Monero [XMR] one-hour price chart | Source: Trading ViewThe one-hour chart showed a downward trend from $114.33 to 106.77. This is followed by another downtrend from $103.71 to $90.69. The privacy coin has an immediate support at $95.13. It will then have to meet the strong resistance, which is patiently waiting at $107.86 level. There is a strong support for the coin at $89.21.
Parabolic SAR shows that the bear is going to further rip apart the cryptocurrency in the market as the dots have aligned above the candlesticks.
Bollinger Bands forecast that the market is going to be volatile as the bands were expanding, making space for price movements.
The Chaikin Money Flow indicates that the money has started to flow in the bearish atmosphere as it was leaping above the zero line.
1-day

Monero [XMR] one-day chart | Source: Trading ViewThe one-day chart is showing a downtrend from $292.71 to $114.07. This trendline continues to reach $106.81 price level. The cryptocurrency shows an uptrend from $84.20 to $101.77, which is further taken to $107.68 ground. The privacy coin has an immediate resistance at $114.17 and a strong resistance at $147.56. XMR has a strong support level at $84.11.
Klinger Oscillator forecasts a bearish weather as the reading line is below the signal line and is showing a massive gap from each other.
MACD is also agreeing with KO’s forecast as the moving average is also indicating that the bear might hail over the market for a longer duration. This is because the moving average line is below the signal line, showing a similar pattern as the Klinger Oscillator.
RSI shows that a trend reversal could take place, giving the bull another chance in the game as the chart is indicating that the coin is currently being held by the bear .
Conclusion
The cryptocurrency is going to be suffocated by the bear’s grip. The winter animal is supported by the Parabolic SAR and CMF from the one-hour chart and Klinger Oscillator and MACD from the one-day chart.
The post Monero [XMR/USD] Technical Analysis: Privacy coin to be suffocated by bear’s grip appeared first on AMBCrypto.
Source: AMB Crypto

Dan Held Learned People Don’t Want To Use Bitcoin For Payments At Two Early Crypto Startups

On the most recent episode of the Noded Podcast, co-hosts Pierre Rochard and Michael Goldstein interviewed Interchange co-founder Dan Held about his history in the Bitcoin space and what he’s working on today. During the interview, Held revealed that his time at early bitcoin startups Blockchain and ChangeTip helped him realize that not many people want to use the digital asset for payments.
ChangeTip Failed
After diving into his early days co-founding ZeroBlock, Held went on to discuss his time at Blockchain, which acquired ZeroBlock, and ChangeTip.

“Then I went over to ChangeTip, which — all of the OGs remember that,” said Held. “[It] was micropayments over social media. We ended up failing, but [we] learned a lot of things along the way with both Blockchain and ChangeTip, which was that people don’t want to use this for payments.”

Held went on to explain that his time at Blockchain and ChangeTip helped shape his views around the Bitcoin Cash spin-off coin when it was created last year.
“After building and designing two of the most popular tools that facilitate [payments] and seeing no traction in that regard, it definitely shaped my mentality when the whole Bitcoin Cash hard fork scenario came around,” said Held.

Thoughts on the Lightning Network
Although Held did not see much demand for bitcoin-denominated payments in his past, he did mention that he sees the Lightning Network as an improvement in this regard.
“Lightning certainly changes the dynamic of how payments work on crypto — or specifically bitcoin,” said Held.
In Held’s view, there are three main user experience problems when it comes to bitcoin payments: the fees are too high, the payments are slow, and it’s not easy to use. Held also said that he would add bitcoin’s intraday volatility issues as another problem associated with the high fees.
While Held sees the Lightning Network as helpful in the areas of payment speed and ease of use, he still sees bitcoin’s price volatility as a major issue.
“The main thing would be the intraday volatility of the price of bitcoin would be kind of I think the biggest UX hurdle to solve if you wanted to use it as a medium of exchange or unit of account or tool for micropayments,” said Held.
Source: Crypto Daily

Bitcoin Cash War Begins: Hash Power of BCH Increasing Rapidly

Bitcoin Cash’s controversial chain split scheduled for today has been activated at block number 556,766.
Around three hours after the split, it appears that one of the main instigators of the fork is struggling to keep pace with the mighty combined hash rate of Bitcoin.com and Bitmain.
Where’s All That Hash Power Then Craig?
According to data provided by cryptocurrency statistics website Coin.Dance, at the time of writing, Bitcoin.com, supporting the Bitcoin ABC side of the hard fork, had mined seven of the eight Bitcoin ABC blocks produced so far with BTC.com adding the last.
Meanwhile, SV Pool, has only mined four of the five Bitcoin SV blocks created so far. Mempool picked up the remaining block reward.
Despite big boasts of their ability to 51% attack Bitcoin ABC from the SV camp, notably originating from the lips of their head honcho, Dr Craig Wright, the Bitcoin SV chain has thus far failed to establish itself as the longest chain. Not only that, but just two hours after the split, Bitcoin SV looks redundant to deliver on the kind of threats Wright and company have been making recently.
Wright had gone so far as to state that he would command around 70% of the total Bitcoin Cash rate thanks to his connections to CoinGeek mining firm founder Calvin Ayre. However, judging by the current statistics, pools supportive of Wright’s ambitions would struggle to get anywhere near the necessary hash rate to compromise the security or operation of the Bitcoin ABC chain.
Wright has spent much of the run up to today’s hard fork posturing on Twitter about the terrible vengeance he will wreak on first the Bitcoin ABC side of the Bitcoin Cash fork and following this, to Bitcoin (BTC) itself.
The man whose claims to be Bitcoin’s creator have been largely debunked also appeared on technical analysis specialist Tone Vays’s YouTube channel to boast about the seemingly endless hash power he commands. Additionally, he sent a rather abusive email to Roger Ver demanding the early Bitcoin proponent support Wright or face some largely implied consequences.
However, earlier today, Roger Ver, one of Bitcoin Cash’s biggest proponents and recent victim of Wright’s efforts to assert his control over BCH, tweeted that the Bitcoin.com pool now boasted more hash rate than that of the entire Bitcoin Cash network just hours previously:

The https://t.co/6EeRmpfaH7 pool now has more hash rate on it than the entire BCH network had earlier today. Bitcoin is cash for the world! #BitcoinCash #bitcoincashfork pic.twitter.com/n2MqQ5mlfK
— Roger Ver (@rogerkver) November 15, 2018

Others also provided their take on the situation and how the posturing of Craig Wright now seemed more likely to be hot air than anything else…

Possible Bitcoin Cash hash war scenario
Bitcoin dot com added 4 exahash. If Bitmain and Jihan's camp redirects more hash power to BCH (estimated to be 20 EH), it's game over for faketoshi.
All depends on Calvin Ayre, but it's becoming more likely that faketoshi will lose out.
— Joseph Young (@iamjosephyoung) November 15, 2018

… before summarising the current hard fork situation and its likely winners and losers:

Bitcoin Cash (ABC) ahead, more hash power, more activity, higher price. 4x higher price (margin).
Seems like a win for BCH. Jihan Wu and Chinese miners not even needed. Certainly not enough for a 51% attack on BCH. BSV nodes reportedly crashing.
Faketoshi lost, community won pic.twitter.com/5LzuKMX3lf
— Joseph Young (@iamjosephyoung) November 15, 2018

For further explanation, this is more hashpower than $BCH had in the last 24hrs. I.e. if Coingeek / nChain / SV Pool / etc. don't have a lot more miners, then ABC is immune to attack
— Alistair Milne (@alistairmilne) November 15, 2018

According to sources close to the founder of Chinese mining hardware manufacturer Bitmain, there are still 90,000 mining units reportedly mining the BTC chain that could also be switched to Bitcoin ABC should a significant threat of 51% attack from Wright arise.
Evidently, Wright would need many times as much hash rate than he currently appears to yield. For now, his talk of 51% attacks and “2014 prices” for months seem to be little more than idle threats.
It appears that today’s hard fork might blow over as quickly as Roger Ver stated it might. The early investor and advocate of digital currencies had previously compared the situation to that of the Y2K bug thought to destroy computer systems around the world at the turn of the millennium.
However, nothing of the sort occurred and the event was quickly forgotten. If the current situation remains, this too could be the fate of today’s split between Bitcoin ABC and Bitcoin SV.
Related Reading: BCH Fight: Bitcoin Cash Bashing Heats Up, Rivals Duke It Out Ahead of Hard Fork
Featured image from Shutterstock.
The post Bitcoin Cash War Begins: Hash Power of BCH Increasing Rapidly appeared first on NewsBTC.
Source: New feedNewsBTC.com

Yandex Survey: 120,000 People Use Cryptocurrencies in Moscow, Russia

There are approximately 120,000 people (less than 1%) in Moscow, Russia that are actively using digital currencies, according to a recent survey conducted by Yandex. Local news outlet, Iaft news, noted that cryptocurrencies remain an unpopular type of payment in Russia’s capital city.
Moreover, results from the Yandex survey show that around 5% of Moscow’s residents are interested in learning more about how to make payments using digital currencies.
Source: Crypto Globe

Bitcoin [BTC], XRP, Ethereum [ETH] and Cardano [ADA] get destroyed by the bear’s all-out attack

The bear attack on November 14 saw a lot of the cryptocurrencies crumble under the bear pressure which also coincided with multiple support breaks. Bitcoin [BTC] faced the bear’s first wave of attack, with the cryptocurrency plummeting below the all-time psychological support of $6000.
At the time of writing, Bitcoin was still languishing below $6000 combined with its market cap going under $100 billion. Just prior to the drop, Jihan Wu, the Chief Executive Officer [CEO] of Bitmain had tweeted:
“I have no intention to start a hash war with CSW, because if I do 9by relocating hash power from btc mining to bch mining.btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!”
Another coin that shared Bitcoin’s fate was Cardano [ADA], which saw it crash to its lowest price point in over a year. Cardano was also in the news recently when the ADA team conducted an Ask Me Anything [AMA] session to talk about the reward schemes in their stake pools.
One user asked about staking ADA using a Ledger hardware wallet and Raspberry Pi computer. To this, Jonne33, a Reddit user stated:
“Once delegated you can put your ada on Ledger or even on a paper wallet. You don’t need to be online after that (ie you don’t need raspberry pi or something). Raspberry Pi can be used initially for accessing your Ada and delegating it via Linux Daedalus client (still in development) or via different light wallets which are popping up currently.”
Ethereum [ETH] and XRP also felt the ripple from the price drop with XRP taking over Ethereum in terms of market cap. Both the cryptocurrencies witnessed double-digit weekly losses where Ethereum slid by 12% while XRP fell by a significant 18%.
The post Bitcoin [BTC], XRP, Ethereum [ETH] and Cardano [ADA] get destroyed by the bear’s all-out attack appeared first on AMBCrypto.
Source: AMB Crypto

European Central Bank Exec: Bitcoin is the “Evil Spawn of the Financial Crisis”

Yet another prominent member of the established financial industry has expressed scepticism about Bitcoin. This time it is European Central Bank executive, Benoit Cœuré.
Cœuré: Bitcoin Is a Clever Idea, Just Not a Good One
Bitcoin and the rest of the cryptocurrency space has not had a very pleasant 24-hours. With prices plummeting and speculation over whether the Bitcoin Cash split occurring today is the cause, now probably is not the best time to be bringing news of yet another naysaying banker. Unfortunately, I must do just that.
According to a report in the Financial Times, Cœuré, a member of the Executive Board of the European Central Bank (ECB), has become the latest member of the banking old guard to discredit the financial and technology innovation. The executive spoke in Basel, Switzerland, earlier today.
During his musings, he admitted there was some genius behind Bitcoin, but the digital currency was not necessarily positive for society:
“Lightning may strike me for saying this in the Tower of Basel — but Bitcoin was an extremely clever idea. Sadly, not every clever idea is a good idea.”
Cœuré went on to echo the sentiment of Mexican economist Agustín Carstens who famously said that Bitcoin shared characteristics with speculative bubbles, and Ponzi schemes, along with being a pending environmental catastrophe waiting to happen. Finally, Cœuré dismissed the importance of a decentralised monetary system by stating that such thinking was “evil spawn of the financial crisis.”
Although he did correctly identify that the crypto asset emerged immediately following the 2008 financial crisis, it is not made immediately clear how exactly an honest effort to free the world of the ill-effects of a corrupt central banking system is evil.
Related Reading: Crypto Economist Claims Bitcoin is the “Medicine You Need”
During the crisis, markets around the globe dropped in what was the largest crash since the Great Depression. It seems perfectly reasonable for people to seek an escape from such a system and Bitcoin offers just that escape. Like many of the insults coming from the banking sector towards Bitcoin, however, Cœuré makes little effort to explain why such a trustless, potentially democratisating system is so bad.
Alongside the likes of JPMorgan CEO Jamie Dimon’s famous “fraud” outburst, investing legend Warren Buffett’s “rat poison squared”, and Buffett’s sidekick Charlie Munger’s “scum-ball activity”, Cœuré’s “evil spawn” descriptor will certainly go down as one of the more creative insults against the cryptocurrency.
Of course, it is perfectly understandable for such leading bankers to reject Bitcoin publicly.
It would be much more convenient for this whole cryptocurrency thing to just disappear and we could go back to before when huge parts of the world’s population were not thinking quite so critically about money and the way the banking system works.
Featured image from Shutterstock.
The post European Central Bank Exec: Bitcoin is the “Evil Spawn of the Financial Crisis” appeared first on NewsBTC.
Source: New feedNewsBTC.com

XRP receives official support from Coinbase Custody; Ripple logo represents the coin

Coinbase, the largest platform for cryptocurrency trading and other related services in the US has officially added XRP under supported assets for Coinbase Custody. However, despite Ripple, the blockchain remittance firm that created XRP, attempting to dissociate itself from XRP for the sake of decentralization, Coinbase has kept Ripple’s logo to represent the coin on its official website.
During the last week of October, there was a buzz around the cryptocurrency space as the Department of Financial Services [DFS] of the United States announced its support for Coinbase to operate as a crypto-custody.
After Coinbase received approval from DFS, it revealed the name of six big coins that would be added to its Coinbase Custody Trust Company program. The list comprised of Bitcoin [BTC], Bitcoin Cash [BTC], Litecoin [LTC], XRP, Ethereum [ETH] and Ethereum Classic [ETC].
Despite being one of the coins to make the cut for custody services, XRP has still not acquired a listing on the trading platform of Coinbase. Moreover, all the other five cryptocurrencies already continue to trade on the exchange.
Skypilot_crypto, an XRP investor and cryptocurrency space enthusiast on the news stated:
“Even though I do hope coinbase list xrp, when they eventually do I still won’t buy my xrp through coinbase. Why would I when I’ve been buying it through others all this time anyway? What would be the point? If Only They listed it sooner. Timing is everything and they are late”
C3|Nik, the Twitter handle of another cryptocurrency and blockchain space follower also tweeted:
“XRP is officially listed as a supported asset on Coinbase Custody.
That does not imply trading support in the normal Coinbase App though.”
On Coinbase using Ripple Labs logo, Michael Nardolillo, an XRP fan, stated:
“With the wrong symbol lmao”
The post XRP receives official support from Coinbase Custody; Ripple logo represents the coin appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin continues to lead the markets direction

After falling around 15 percent this week, Bitcoin has passed two resistance levels after it has been relatively stable over the past few weeks.
Bitcoin fell by over 10 percent following its plunge past a key resistance level after a period of relative smoothness.
Those who back Bitcoin are all asking the question of how low will it go? From this level, it just seems to be dropping even further after its biggest one day drop in under a year.
At the current time of writing, Bitcoin is priced at $5,527 but earlier in the day it did fall below the $5,500 level. As with the rest of the market, Bitcoin is in the red by 10.70 percent and no one knows what is next for the world’s leading cryptocurrency.
The coin actually fell by to the $5,220 region after it fell past the key resistance level earlier in the week following a period of decent stability. This trend continues across the markets as the majority of cryptocurrencies continue to slide.
As everything seemed to calm down a bit after Bloomberg’s Galaxy Crypto Index dropped by around 15 percent. Speculation has accumulated following this which claim that it includes the debut of the new version of Bitcoin Cash. investors are debating whether the coin is just persuading miners and traders away from the largest crypto after it broke itself off from the original Bitcoin last year.
As reported by Vancouver Sun:

“The plunge disrupted a trend of lower daily spikes and sell-offs for cryptocurrencies, often criticized in financial markets as being too unstable for use as in investment or as a currency. Only a week ago, Bitcoin’s 30-day volatility had dropped to 21.2, below that of the Standard & Poor’s 500 index for the first time in two years, according to prices compiled by Bitstamp.”

The head of trading for the Asia Pacific as Oanda Corp, Stephen Innes wrote about the matter in a note and said, “the Bitcoin Cash hard fork is proving far more destabilizing than initially thought as numerous competing factions muddy the landscape.”
In addition to this Innes also said that the disruption over the new Bitcoin Cash fork has created to much commotion and that it has triggered an escape plan for most people. He said that an eventual break below $5,000 for Bitcoin “opens the door to a test of US$2,500 as Bitcoin retail traders move from buying on dip to full-out panic mode.”
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

BCH Hardfork War Almost Over And It Seems a Win for Bitcoin (ABC)

On November 15, BCH developers prepared to undergo its next hard fork, a split of the blockchain, which would give birth to new tokens named Bitcoin SV (Satoshi’s Vision), Bitcoin Unlimited and Bitcoin ABC.
Well, the fork is now almost complete and it seems that Bitcoin (ABC) is the winner with Bitcoin SV nodes already crashing.

Source: https://cash.coin.dance/
At the time of reporting few blocks were already mined on the Bitcoin ABC blockchain.
Crypto journalist, Joseph young also tweeted:

Bitcoin Cash (ABC) ahead, more hash power, more activity, higher price. 4x higher price (margin).
Seems like a win for BCH. Jihan Wu and Chinese miners not even needed. Certainly not enough for a 51% attack on BCH. BSV nodes reportedly crashing.
Faketoshi lost, community won pic.twitter.com/5LzuKMX3lf
— Joseph Young (@iamjosephyoung) November 15, 2018

What does it mean for Bitcoin cash?
The future development of Bitcoin Cash is seen by the developers as the implementation of three core ideas.

Improving 0-conf transactions for making the payment experience instant and reliable without changes to the consensus rules.
Enabling massive on-chain scaling through the removal of the mempool admittance code and mining RPC.
Improving fungibility.

With “Adjustable Blocksize Cap” as the faction’s name and slogan, this most popular Bitcoin Cash client also acts in the interest of node operators and intends to allow them “to adjust their block size limit.” The changes are planned to be implemented by “removing software bottlenecks.”
What will the effect on bitcoin ABC prices? Any guesses.
 
The post BCH Hardfork War Almost Over And It Seems a Win for Bitcoin (ABC) appeared first on Coingape.
Source: CoinGape

Sharing Economy Based Social Network Corld Launches its Token Distribution Event for Early Adopters

CoinSpeaker

Sharing Economy Based Social Network Corld Launches its Token Distribution Event for Early Adopters

Disrupting today’s social networking with a unique sharing economy and user experience, Corld started its Token Distribution Event for its Cedium token.

Sharing Economy Based Social Network Corld Launches its Token Distribution Event for Early Adopters

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Cash [BCH/USD] Technical Analysis: Support break gives no help as cryptocurrency prepares for hard fork

Bitcoin Cash [BCH]’s hard fork was preceded by a massive market crash that saw almost all the cryptocurrencies break their price support. The hard fork slated to commence on November 15 is seen as a marked change in the cryptoverse, with two different parties lobbying for two ideologies on the blockchain.
1 hour:

The BCH one-hour chart shows a downtrend that has taken the price from $518.05 to $449.42. The resistance has been holding at $633.92 while the new support is at $411.69.
The Chaikin Money Flow [CMF] indicator has stayed just below the axis, which is a sign of the bearish market taking over. The graph also points to the monetary outflow being more than the inflow.
The Awesome Oscillator has picked up on the graph which indicates that the market momentum has drastically increased.
1 day:

The one-day graph shows an uptrend and a downtrend which paints a picture of bearish atmosphere. The uptrend saw the prices shot up from $438.21 to $625.21. The succeeding downtrend brought the prices down from $615.26 to $503.36.
The MACD indicator has witnessed a bearish crossover with the signal line and the MACD line both heading towards the bear zone.
The Relative Strength Index [RSI] is tending towards the overbought zone which is a sign of the selling pressure being more than the buying pressure.
Conclusion:
The indicators show the cryptocurrency market succumbing under the bear pressure. The CMF, AO and the MACD have all taken the side of the bear, which might result in sustained price movements interspersed with bullish spikes.
The post Bitcoin Cash [BCH/USD] Technical Analysis: Support break gives no help as cryptocurrency prepares for hard fork appeared first on AMBCrypto.
Source: AMB Crypto