Bitcoin [BTC]: Tone Vays “couldn’t disagree more” with Tom Lee’s valuation

Tone Vays, former Wall Street Risk Analyst and Bitcoin enthusiast/influencer, spoke about the bear market and how Bitcoin is performing and gave his opinion on probable outcomes for Bitcoin in the near future.
Vays referred to the monthly chart of Bitcoin said that this was the worst that Bitcoin has ever seen ever since the start of 2018.
Furthermore, Vays said that there was a chance for the monthly RSI to reach and possibly cross the 30-line, referring to an oversold market for Bitcoin.
Source: TradingView
He continued:
“That would mean a sub $1000 Bitcoin or a $1,000 Bitcoin for a year, like $1,200 over a year, that’s what it would take to get the RSI to be below 30”
In the live stream, Vays said that he disagrees with Tom Lee’s valuation of Bitcoin which is in the range of $13,000 – $14,000.
Vays said:
“I just saw links to an article about Tom Lee today morning telling you that Bitcoin’s valuation is still above like $15,000. I couldn’t disagree more. I think Bitcoin’s current valuation at best $5,000 and I could be a little over-optimistic on that.”
According to Tom Lee, the fair price of Bitcoin should lie between $13,800 and $14,800 and if the Bitcoin wallet users approach 7% of the total number of users of Visa, which is at a massive $4.5 billion, then the fair price of a Bitcoin would be $150,000.
Fundstrat’s Tom Lee said:
“Given we are so close to year-end, we are not providing any updates to near-term price objectives—read this as, we are tired of people asking us about target prices.”
Apart from his fair price prediction, Lee recently slashed his year-end prediction for Bitcoin from a prior $25,000 to $15,000 because Bitcoin had fallen below the break-even point.
There was a huge uproar in the community about Tom Lee’s opinion which led many prominent people to talk about it, and mostly disagree with it.
Nouriel Roubini tweeted in reply to Tom Lee’s fair price for Bitcoin asking people to “keep digging deeper in that cesspool”.

Kevin Marek replied to Nouriel Roubini saying:
“What is your actual argument against protocols that enable value transfer online in a trust less manner? Calling things shitcoins makes you look much less like an economist and more uneducated with every post.”
Another user, CryptoRev added:
When will you stop regretting your decision of not investing in Bitcoin at 1 usd?
You still have chance to invest in Btc else we will see your post in 2020
“Bitcoin down 35% in a week trading at 135000 Usd told these crypto traders to stay away”
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Source: AMB Crypto

Tron [TRX] transaction fees to reach 0 by Friday, Justin Sun retweets

The CEO and Founder of the Tron Foundation, Justin Sun posted on Twitter that the fee of the transaction of the Tron Market has dropped to 0.1% at 7:00 [UTC] on 14th December. Furthermore, the good news got amplified when the next line of the post stated that the ecosystem might reach a transaction fee of zero by next Friday. The original tweet read:
“The transaction fee of #TRXMarket has dropped to 0.1% at 07:00(UTC) on Dec 14th! And 0 transaction fee will be realized by next Friday, go trade: @ http://trx.market tele: http://t.me/trxmarket2018 #TRON $TRX @justinsuntron @Tronfoundation”
To this, Justin Sun replied by saying:
“Nice! Hear the voice of the community! #TRON #TRX $TRX”
This is not the only progress that the TRX ecosystem has seen. In the latest weekly report by the Tron Foundation, it has been found that Tron’s TRC20 Exchange was finally launched. Furthermore, the report stated that with the help of Tronscan, it can be observed that 9 TRC20 tokens have been listed on Tronscan, wherein most of the projects are dApp tokens.
In another success story, the 24-hour transaction number for decentralized apps reached 1.04M, which is almost a 50% increase from the previous week.
TRX dApp report | Source: Medium
There were two decentralized exchange that went live and were created and launched by the Tron community; one was TRX Market while the other one was called GOC. TRX Market was launched on 12th December and supports multiple tokens, namely, GOC, BET and FUN, which have bee issues through dApps.
Meanwhile, GOC is the first TRC20 and TRC10 exchange of Tron wherein the TRC10 is based on Bancor. This exchange is coded similarly to the Tronscan DEX but has a different UI.
Regarding dApps, Tron is also in heavy competition with the Ethereum blockchain, which has about 2,000 dApps. Sun, in the past has also instructed developers to move their dApp projects from Ethereum to Tron blockchain.
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Source: AMB Crypto

Bitcoin [BTC]’s prices are significantly lower than its $13000-$14000 fair price, says Tom Lee

Fundstrat’s Thomas Lee aka Tom Lee, well-known for his predictions on Bitcoin in the crypto-community spoke about the current market for cryptocurrencies and more specifically about Bitcoin and year-end predictions.
As reported by CNBC, Thomas Lee, former J.P. Morgan Chief of Equity Strategist said:
“Given we are so close to year-end, we are not providing any updates to near-term price objectives—read this as, we are tired of people asking us about target prices.”
Lee, in his recent appearance in the crypto-community, said that he was done with giving out year-end predictions but instead updated his opinion on what the fair price for Bitcoin should be.
As per the International Accounting Standards Board, fair value is the price received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on a certain date, typically for use on financial statements over time.
To further simplify it, fair value is the rational and unbiased estimate of the potential market price of a good service or asset.
Lee calculated the fair price of Bitcoin with the number of active wallet users in mind and said that it is “significantly” higher than the actual price. Considering the number of active wallet users are 50 million, Lee thinks that the active wallet users have to be reduced to $17 million to justify the current price of Bitcoin.
Moreover, Lee thinks the fair price of Bitcoin should lie between $13,800 and $14,800, but the current price is hovering in the $3,300 range.
It might be true to some extent as the price of Bitcoin has collapsed vastly in the last two months breaking major supports at ~$6,500 and now at ~$3600. The prices are getting closer to $3,000 mark as the end of the year approaches.
If the Bitcoin wallet users approach 7% of the total number of users of Visa, which is at a massive $4.5 billion, then according to Lee’s regression model, the fair price of a Bitcoin would be $150,000.
Bitcoin has suffered a massive decline of 82% in its price and market cap since its all-time high in December 2017 and the total market cap of all-cryptocurrencies have also declined by an approximate of 87% and is currently hovering at $111 billion.
Lee said that investors will likely stay bearish until Bitcoin remains below the 200-day moving average and that technicals play an important role in cryptocurrency trading.
In his recent appearance on CNBC, Lee cut his year-end prediction for 2018 from $25,000 to $15,000 and substantiated it with the research done by the Fundstrat’s data science team which included calculating a break-even point. Lee later changed his prediction to $15,000.
A Twitter user J. Braunstein commented:
“A prudent speculator never argues with the tape. Markets are never wrong, opinions often are.” – Jesse Livermore
Another user BitHoncho replied:
“Oh well .. he was wrong about $ES targets as well .. But always called on cnbc .. It should be @winternomics who should be there”
Jersey replied BitHoncho saying:
“Value is scarce man, even if Kaz was up there, most wont take in the info and judge the mask or his grammar, look at the 99% nitpicking Musk’s tweets #RuleOfTheAtom”
The post Bitcoin [BTC]’s prices are significantly lower than its $13000-$14000 fair price, says Tom Lee appeared first on AMBCrypto.
Source: AMB Crypto

NanoQuake: New Trailer Released

NanoQuake, the new project from the Nano Center, has released a new official trailer. NanoQuake is based on the popular Quake video game. More precisely on Yamagi Quake 2, an improved fan-made version of the original Quake 2. Using financial incentives to encourage people to play, the pioneer project is looking to showcase how in-game microtransactions are possible with Nano.
Source: Crypto Globe

Bitcoin [BTC] addresses blacklisting doesn’t really matter that much, says Litecoin Creator

In the latest episode of Magical Crypto Friends, Charlie Lee, the creator of Litecoin, Samson Mow, the CSO of Blockstream, Riccardo Spagni, the lead developer of Monero and Whale Panda, discussed the recent new regarding the backlist of two Bitcoin addresses by the Office of Foreign Assets Control [OFAC].
Recently, reports emerged that the OFAC blacklisted two Bitcoin addresses as they were linked to cyber crime. The owners of the addresses are believed to be Iranian nationals and these addresses have more than 7000 transactions, receiving approximately 6000 BTC. Additionally, anyone who interacts with these addresses could potentially be held responsible by the United States government and could face legal punishment.
Charlie Lee stated that backlisting two Bitcoin addresses does not really matter “that much”. However, according to him, exchanges are going to have a lot of work as they have to check thousands of addresses and keep a tab every time someone makes a transaction in order to ensure that none of the addresses belong to the OFAC list of addresses, adding that “this can be like so painful”.
Furthermore, Riccardo Spagni said:
[…] if your job is in exchange is to check that no funds that are being deposited are coming from those addresses and no funds that are being withdrawn are being withdrawn to those addresses, that’s easy. But because of the nature of Bitcoin it’s very easy to move funds like you know from one address pass it through ten addresses and then go and deposit it”
The lead developer added:
“so the question is how far back do you need a check now as an exchange and it seems to me that this is just like all it’s going to result in is some sort of magical number like okay guys we only need to check ten steps back or three steps back which apparently you have you told is the magical number and people are then just gonna watch the coins more than 10 steps or more than three steps this doesn’t seem to be a trivially solvable problem or an easy way to prevent anything from happening.”
This was followed by Charlie Lee stating that this is the same with coins “moving forward” as well, adding whether he would be banned if the coins are deposited to the terrorists address after three steps or whether the exchange would be keeping a track of the addresses even a year later.
Spagni remarked:
“Yeah like exactly so you move it to an intermediary address and then you move it to the banned address and now what the exchange is supposed to be responsible for monitoring that”
Following this, WhalePanda pointed out the possibility of a dust attack, stating, “they can send tiny amounts to other addresses and do some sort of dust attack and then every address is tainted because it’s coming from the blacklisted or the blacklisted addresses”.
To which, Spagni said:
“If you’re using a wallet that gives you coin control and it’s easy to prevent you being affected by a dust attack but let’s be honest I’ll be people using Bitcoin are, a) using wallets that have coin control b) are aware that a dust attack is even a thing and c) have the presence of mind to go and prevent all this stuff”
The lead developer further said:
“here’s another thing what happens if I pay a fee to a miner  from a tainted address is the new coinbase output now also tained? […] they’re ways within the Bitcoin blockchain to to wash outputs”
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Source: AMB Crypto

The Crypto Markets May be in a Rout, But the Blockchain Job Market is in Full Swing

Although the crypto markets are caught in a persisting bear market, blockchain jobs are in a raging bull market, with blockchain developer job growth topping this year’s LinkedIn Emerging Jobs Report.
The report, which was released by LinkedIn on December 13th, analyzes the fastest growing jobs in the US, and notes that the blockchain industry was the fastest growing job market in 2018.
Crypto Crashed, But Blockchain Still Thriving 
Although the cryptocurrency markets have faltered throughout 2018 and are currently sitting at their lowest price levels since mid-2017, the blockchain development industry is thriving.
The LinkedIn report notes that in the United States, blockchain developer jobs saw 33x growth in 2018, significantly more than the second fastest growing job of machine learning engineers, which grew by 12x throughout the year.
The report notes that within the blockchain development sector, the most widely sought-after skills are knowledge and experience with Solidity (smart contracts), blockchain technology, Ethereum, cryptocurrency, and Node.js.
Within the market, most of the demand for workers with skills and a knowledge base in the aforementioned technologies stemmed from three main companies, including IBM, ConsenSys, and Chainyard, and three main cities, including San Francisco, New York City, and Atlanta.
Although the demand for blockchain developers is incredibly high, the crypto rout has undeniably stagnated this growth, as many companies in the blockchain sector have been impacted by the market crash.
ConsenSys, who LinkedIn notes as being one of the biggest blockchain employers, recently underwent a company restructuring that resulted in 13% of the company’s staff being cut.
The restructuring, which has been dubbed as “ConsenSys 2.0” by the company’s leaders, will result in more rigorous milestones and will lead to increased focus on the projects with the most long-term potential, while the more experimental and risky projects will be cut.
Blockchain Industry Not Going Anywhere
Although the blockchain industry may be starting to feel some pressure resulting from the cryptocurrency market crash, it still has a significant amount of growth ahead of it.
Recently, MouseBelt, a blockchain and ICO accelerator service, funded UCLA’s first accredited blockchain engineering course, which will start in January of 2019. The course will be for undergraduate students with an interest in computer engineering and will be considered by the university as a 4-credit special topics course.
In the past, students have had access to blockchain and cryptocurrency courses through the Anderson School of Management, but this is the first course that is actually being offered by UCLA to undergraduate students.
Although the cryptocurrency market’s current situation looks dire, the growth in the blockchain job market and the advent of new blockchain-centric courses from top universities signals that development in DLT tech, which is inexorably tied to crypto, continues pushing ahead and that the best is still yet to come.
Featured image from Shutterstock.
The post The Crypto Markets May be in a Rout, But the Blockchain Job Market is in Full Swing appeared first on NewsBTC.
Source: New feedNewsBTC.com

Church's Chicken in Venezuela Now Accepts Dash Payments

Popular American fast food franchise Church’s Chicken began accepting digital currency Dash (DASH) as payment (on December 12th) at its restaurant locations in Venezuela. This, after KFC chains in the country clarified that they were not accepting Dash (according to some reports).
Dash News, a website dedicated to updates about the cryptocurrency, confirmed that Dash payments are being accepted at all 10 Church’s chicken restaurants in Venezuela. A video showing the first transaction involving Dash at Church’s Chicken has also been uploaded (as proof) to YouTube.
Source: Crypto Globe

Litecoin [LTC] Technical Analysis: Cryptocurrency to stay with the bears

The price of Bitcoin [BTC] is still hovering around the $3,000 range just like the other cryptocurrencies that are facing the brunt of the bear. They have reached their all time low since 2017 December.
At the time of writing, LTC is trading at $23.62 with a market cap of $1.4 billion. The coin is currently at the 8th position by market cap and has seen significant decline of 7.4% in the past 7 days. LTC opened at $32 on 1st December, further continues to decline without showing any signs of an upward trend even after 2 weeks.
1 hour:
LTC 1-hour chart | Source: TradingView
In this time frame, LTC is showing a downtrend ranging between $35.26-$24.6-$23.8 with resistance points set at $34.02 and $28.69.
The Awesome Oscillator is currently moving towards the reddish zone continuing the downtrend of LTC. The histogram is demonstrating the same trend since yesterday.
Chaikin Money Flow [CMF] has dropped below the zero line indicating that inflow of money in the LTC market is diminishing.
The Bollinger Bands are currently diverging, indicating that there are high chances of volatility in the market. Also, the candlesticks are staying slightly below the simple moving average [SMA] showing a bearish trend in the 1 hour chart.
24 hours:
LTC 1-day chart | Source: TradingView
The daily chart of LTC shows a desolated market with no possibility of uptrends anytime soon. The downtrend is ranging between $275.56 – $52.8 and $50.62 – $25.2. The resistance point in this time frame is set at $180.11.
The Parabolic SAR is currently forming the dotted indicators above the candlesticks pushing them further towards the bearish end.
In MACD, both the signal line and moving average is continuing its journey together in the bearish zone without any alteration. The LTC histogram also seems completely bleak at the moment.
The Relative Strength Index [RSI] is struggling to take its place back in the RSI zone. The indicator moved to the oversold section last week and continues to be in the same zone since then.
Conclusion:
The Litecoin [LTC] market is clearly depicting a negative trend with all the indicators in both the time frames constantly moving towards the bears’ grip.
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Source: AMB Crypto

Cardano (ADA) Might Extend Losses Below $0.025 During Next Sell-Off

Cardano (ADA) is preparing for a fall as Bitcoin (BTC) looks likely to extend losses below $3,000. This leaves Cardano (ADA) no choice but to fall below $0.025 during the upcoming sell off. As you can see on the weekly chart for ADA/USD, there is very little room for further downside and Cardano (ADA) may rebound very quickly after falling below $0.025. This means that investors should be looking for entry positions instead of expecting a big fall from current levels. The worst thing to do right now would be to go short on Cardano (ADA) without any risk management. The price may look vulnerable for a fall but it should be borne in mind that Cardano (ADA) is already significantly oversold and is one of the most undervalued projects in the cryptocurrency space.
The trend line for support seen on the weekly chart is one that Cardano (ADA) has held since the beginning of its correction. It would be extremely unlikely to see it break during the upcoming crash. That being said, we have seen top coins like Bitcoin (BTC) and Ethereum (ETH) break critical market structures. By comparison, Cardano (ADA) is still a very small cryptocurrency and it would not be surprising to see it behave irrationally in the face of market pressure. The price has failed to even retest the 5 Week EMA since the beginning of the recent crash. This does not look good from a technical analysis standpoint.It would not be unreasonable to say that trading Cardano (ADA) at the moment is no different than catching a falling knife. Investing in Cardano (ADA) right now is a whole different story though. As mentioned before, this is the best time to start accumulating for those that believe in the project and are willing to hold their ADA coins for the next few years. Cardano (ADA) is just getting started and the vast majority of cryptocurrency still have absolutely no idea as to what this project is about or aims to achieve. All they know is that it is one of the top ten largest coin by market cap. This goes on to show how cryptocurrency enthusiasts know so little about this coin. Frankly, the major reason Cardano (ADA) has been able to receive its current level of recognition and acceptance is because it is the brain child of Charles Hoskinson, the CEO of IOHK.
Cardano (ADA) is yet to complete its correction against Bitcoin (BTC) as is clearly shown by the weekly chart for ADA/BTC. It is currently trading in the last section of the pitchfork and has significant room for further downside. The price has been continuously rejected by the 5 Week EMA at least for the last twenty weeks! Even though the EMAs have now come closer, but this is not the first time it has happened. We saw in July that the market gave us a false signal of a reversal when the EMAs started to align together, but the price soon dropped further and paved the way for a bigger correction.
Source: Crypto Daily

Teen Bitcoin Millionaire: “Bitcoin is Pretty Much Dead”

One of the youngest cryptocurrency success stories has a rather bleak outlook for the leading digital asset, Bitcoin. Erik Finman became a millionaire in his teens by investing money that his grandmother had gifted him, starting as early as 2011.
At the height of the Bitcoin bull market of 2017, Finman’s stack was worth an impressive $4 million. There is no indication just how much much of this he still holds, however.
Erik Finman: Bitcoin and Litecoin Dying, Ether, BCH, and Zcash Show Promise
Erik Finman hit headlines this January for his remarkable story. Starting in 2011, the then 12-year-old was buying cryptocurrency with some money his grandmother had given to him. According to a report in Market Watch, by catching on to the technological innovation early, the teenager was able to turn just $1,000 into over $4 million.
Despite being the cause of his success, Finman is now of the opinion that Bitcoin is in trouble:
“Bitcoin is dead, it’s too fragmented, there’s tons of infighting I just don’t think it will last… It may have a bull market or two left in it, but long-term, its dead.”
Interestingly enough, much of the infighting within Bitcoin has actually died down since the August hard fork last year, which created Bitcoin Cash. This is because many of those arguing for scaling by increasing the size of the blocks themselves left the community to support and use the offshoot currency, evangelised by Roger Ver and Craig “Fake Satoshi” Wright.
Bizarrely, the teenage investor believes that Bitcoin Cash is actually a better bet than the original Bitcoin. He told the publication that it had great technology but had been marketed terribly. It seems strange that Finman would critique Bitcoin’s infighting and be more optimistic about Bitcoin Cash when it was the latter that has just undergone a far uglier hard fork than that of last August. This recent incident involved threats of 51% attacks and plenty of other mudslinging.
Perhaps Finman simply has not been paying the space quite as much attention as he once did since his portfolio exploded into seven figures. Perfectly understandable given his age but it still seems odd that he thinks he has any authority on the matter given how detached his statements are from reality.
As mentioned, Bitcoin’s infighting has calmed immensely over the last year and a half. Infrastructure development is occurring at an unbelievable pace too. This includes institutional offerings from the likes of Bakkt and Fidelity, as well as improvements to the protocol itself in the form of Lightning Network. This is literally night and day to what is happening over at Bitcoin Cash right now.
Other projects that Finman believes have a better chance of survival are Ethereum and Zcash. Meanwhile, he states that Litecoin is certainly all but toast:
“Litecoin has been dead for a while,” he said. “It’s like when the sun is going down and there’s that eight minute period just before it goes dark. Litecoin is in its seventh minute.”
Related Reading: Crypto Community Responds to Fake Satoshi’s “F**k You” Email to Roger Ver
Featured Image from Shutterstock.
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Source: New feedNewsBTC.com

Litecoin [LTC] Lightning Network to be launched; CoinGate bearer of good news

On 13th December, Coingate, a popular cryptocurrency exchange for trading Bitcoin [BTC] and altcoins announced on Twitter that the Lightning Network of Litecoin is finally ready for deployment. Furthermore, CoinGate has offered itself as a platform for the activation to take place. In the original tweet by the exchange, the company wrote:
“@litecoin community, we bear some exciting news! Our #Litecoin #LightningNetwork is ready to be deployed and will soon be live on CoinGate! Keep up with the news as we’re getting closer! Here’s a little sneak peek @LTCFoundation @SatoshiLite @starkness!”
On this, Charlie Lee, the Father of Litecoin and a veteran computer scientist cheered:
“Even Litecoin will soon have more than 1000 merchants accepting LN payments! Thanks @CoinGatecom!”
From time to time, Charlie Lee has projected that the project that fills him with enthusiasm in the cryptocurrency space is the Lightning Network. For instance, in a recent interview with CNBC, the techie revealed that he is the “most excited about” the LN.
According to him, the Lightning Network is a second-layer solution for payments going through Bitcoin and Litecoin. He also believes that the network is getting stronger over the years wherein SegWit was also activated last year.
Another distinct view held by the Litecoin creator is that the concept and mechanism of LN is in sync with the vision projected by Satoshi Nakamoto in Bitcoin’s whitepaper titled “A Peer-to-Peer Electronic Cash System”. In another interview, Lee had said that the payments on the Lightning Network are peer-to-peer and can work even when the parties or peers participating are not connected to the Internet.
A Twitter handle named Bitcoin Opinions – Litecoin’s Cousin on the announcement wrote:
“Don’t say “We bear news”!! That’s the evil B-word!!! Why not just “have news”, all right?”
Supernova, a cryptocurrency enthusiast and a blockchain space follower commented:
“That’s the kind of answer what precisely causes the current price effect of good news”
The post Litecoin [LTC] Lightning Network to be launched; CoinGate bearer of good news appeared first on AMBCrypto.
Source: AMB Crypto