lxdx, shortcrypto

Ex SpaceX Engineer Launched Cryptocurrency Exchange LXDX

A former SpaceX engineer and stock trader Joshua Greenwald has launched a Cryptocurrency exchange for institutional traders called LXDX. This will aim to make trading easier for institutional investors.

LXDX has recently moved its base of operations to Malta, one of the most crypto-friendly regions in the world, which has also attracted to Binance, OKEx, and ZB.com.

LXDX has received funding from firms such as the venture arm of Dymon Asia Capital, a $4.9 billion investment group based out of Singapore.

Our existing Cryptocurrency exchanges have been handicapped by lack of access to liquidity, substandard matching times, inadequate cyber security and a market fragmentation that has driven away potential investors. This exchange will aim to address these deficiencies by providing some of the features more associated with professional and institutional traders. The mission of this  is to make capital markets better. The focus is on Cryptocurrency and enabling every investor to utilize the exclusive tools, like smart order routing, that only institutions previously could access.

LXDX will offer investor high-frequency trading capabilities, with full order lifecycle potentials fewer than 50 microseconds. It will also feature multi-layer secure cold storage and full know-your-customer and anti-money laundering policies. It will ensure liquidity through smart routing.

The main competitor of LXDX is Caspian which also promises to solve many of the same problems for institutional investors that LXDX does. Caspian is developed by Block Tower Capital, a Cryptocurrency hedge fund founded by Goldman Sachs executive.

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Cloudflare launches IPFS gateway

Cloudflare is an Internet security provider, which has introduced a new product to help users more easily access the InterPlanetary File System (IPFS), the decentralized storage protocol developed by Protocol Labs. It is an easy way to access content from the InterPlanetary File System (IPFS) that doesn’t require installing and running any  IPFS special software on your computer.

IPFS is a peer-to-peer file system composed of thousands of computers around the world, each of which stores files on behalf of the network. The peer-to-peer nature of IPFS provides a number of redundancies for users trying to access a specific website or piece of data. The users can request data using hash values, rather than IP addresses, which acts as a method of ensuring the data received is what was requested, according to the post.

In traditional web system, when you access a website from your browser, your browser tracks down the origin server for the website content. It then sends a request from your computer to that origin server, wherever it is in the world, and that server sends the content back to your computer. But, there is some problem with this system. Centralization makes it impossible to keep content online any longer than the origin servers that host it. If that origin server is hacked or taken out by a natural disaster, the content is unavailable. If the site owner decides to take it down, the content is gone. The IPFS provide the solution for this problem.

There are two ways to access the content that’s been stored in the IPFS network. The first way is to download IPFS onto your computer and the second is IPFS gateways are third-party nodes that fetch content from the IPFS network and serve it to you over Hyper Text Transfer Protocol Secure (HTTPS) the dominant protocol used to transfer data.

The unique thing about IPFS is that you tell the network what to look for and the network figures out where to look.

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Russian government agency to keep vigil on crypto transactions

The Russian government agency is planning to expand its internal systems to keep an eye on cryptocurrencies. This agency will monitor alternative types of transactions including those made with cryptocurrencies.

As reported by the local newspaper, Rosfinmonitoring, the Russian government agency also responsible for monitoring financial crimes, will enlarge its system to monitor transactions made with cryptocurrencies. By the end of this year 2018, new application will be included in a condensed monitoring system for the organization, whose main aim and focus is to prevent terrorism funding and confront fraud schemes. The tool is expected to unite fragmented information on fraud and link different cases.

An improved system allowing for data about crypto wallets tied to certain individuals is also being developed by Moscow Institute for Security and Information Analysis (SPI), with a price tag of about $2.8 million. The tool could find a particular person’s name, bank account, credit card, and cellphone number, as well as the number of the electronic wallet. It will not include the above mentioned things but also include data on cryptocurrency and Bitcoin transactions.

Not much is known about the scope of the initiative but according to the documents published through an electronic auction system that registers purchases and purchase requests from Russian agencies, Rosfinmonitoring should get the updated system before the end of the year so that the transactions can be tracked.

Rosfinmonitoring has also refused to disclose any details about this expansion. Policymakers and legislators in the country have gone back and forth on the question of cryptocurrency oversight and it was reported that Rosfinmonitoring could play a possible role in monitoring transactions on regulated cryptocurrency exchanges.

The list of individuals whose accounts have been blocked in Russia due to terrorism charges includes 8,600 people.  The list of entities has 485 entries, with most of them being various Russian religious organisations. The database also lists 101 foreign entities and 415 foreign individuals.

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OpenFinance Launches ATS for Securities Tokens

Security token trading platform, OpenFinance has launched Alternative Trading System (ATS) for the security tokens, according to information shared by the local news-paper as it was reported on August 29.

In Canada and U.S, an Alternative Trading System (ATS) is a non-exchange trading venue that matches sellers and buyers to find counter parties so that they can make transactions. They are usually regulated as broker-dealers instead of as exchanges.

Juan Hernandez, CEO at the U.S.-based OpenFinance, made confirmation to the local newspaper through an email that the company has created the trading system, noting that the official press release will appear later on the company Medium account.

In the month of July, cryptocurrency exchange Huobi entered into a partnership with OpenFinance. In the news-paper it was stated that the partnership was made for a more safe, secure, regulated security token market and growing confidence in the U.S. market. And In the case of Huobi strategic investment, Hernandez said that, “We all believe that security tokens are the future of finance and future of world, and Huobi investment is our trading platform is reflective of the rising interest around the globe in this emerging financial ecosystem.”

In the U.S., a security token is any token which is found to be a security by employing the Howey Test, that is the token offers an opportunity to contribute money and to get share in the profits of an enterprise managed and partly owned by respondents. Additionally, the scheme involves an investment of money in a common enterprise with profits to come solely from the efforts of others.

Last week, U.S based registered company and famous broker-dealer Rialto trading announced that the company has been working with the regulators only to expand its trading operations to include blockchain-based securities.

On 16th July, leading U.S. cryptocurrency exchange and wallet service Coinbase announced that it had received approval from the U.S. Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) are to list digital coins considered to be securities.

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Randi Zuckerberg Joins Huobi’s Expert Advisory Team

Mark Zuckerberg is the CEO (Chief Executive Officer) and co-founder of Facebook, His sister Randi Zuckerberg has joined the advisory team of Huobi, which is one of the world largest cryptocurrency exchanges.

Up until now, if you read the name Zuckerberg associated with blockchain and cryptocurrency, chances are it was referring to Facebook creator Mark Zuckerberg. However, it’s not Mark Zuckerberg but his sister Randi Zuckerberg who has signed on to advise for one of the world’s largest cryptocurrency exchanges that is Huobi.

According to a report in a local newspaper, Randi Zuckerberg would be providing expert opinion on Huobi public chain, starting from the basic technology to its commercial modelling, industrial applications, etc. and support Huobi Public Chain Leadership Competition.

Both private and public chains are decentralised peer-to-peer networks. Anyone can join and participate in the public chains as the network is entirely open.

The Huobi Chain Project will provide individuals and organizations with a reliable financial protocol for fundraising, value exchange and securitisation.

While Randi association with Huobi may not have as significant impact as her brother’s association. She is a Harvard graduate, the founder and CEO of Zuckerberg Media, Editor-in-Chief of Dot Complicated and creator of an animated TV show called Dot and worked at Facebook for 6 years.

Randi was nominated for an Emmy award and was featured as one of 50 Digital Power Players in 2010. Facebook had banned all cryptocurrency-related advertisements in early 2018, including ads that promoted financial products and services associated with misleading or deceptive promotional practices, such as binary options and initial coin offerings.

However, in June, Facebook reversed its decision of outright ban of crypto-related advertisements, and allowed related content from pre-approved advertisers, while prohibiting ads promoting binary options and initial coin offerings.

Mark Zuckerberg, has expressed interest in blockchain and cryptocurrency and plans to study all the aspects of cryptocurrencies for solving important issues at Facebook.


Tom Lee Correlation Between Bitcoin and Emerging Markets

Bitcoin analyst Tom Lee has predicted that the cryptocurrency could end the year explosively higher and citing a correlation between cryptocurrency and emerging markets. Tom Lee has made his new prediction in an interview during a Trading Nation show organised by CNBC August 25.

The Head of Research at Fundstrat Global Advisors has said that according to Tom Lee he still thinks it’s possible, that Bitcoin price could surge to as high as $25,000 this year. Tom Lee has based his prediction on the relationship between the price of BlackRock and Bitcoin on iShares MSCI Emerging Markets Exchange-Traded fund (ETF), which tracks medium sized and large companies in emerging markets.

According to Tom Lee, the important fact lies in that, Both markets bitcoin and emerging market are running somewhat parallel to each other, with both having really essentially peaked in early 2018, as well as both bitcoin and emerging market having been in a downward trend from then till now.

According to Tom Lee, recent trading activity of hedge has shown that hedge funds are not buying funds they have stopped buying into funds which are tied to emerging markets due to market sell-off risks, which, in turn, leads to reduced purchases of Bitcoin and other cryptocurrency too.

As Tom Lee believes, a little change in the direction of the emerging markets would signal a similar change in Bitcoin trend: “Until emerging markets begin to turn, Lee thinks in some ways that the correlation of bitcoin and emerging markets is going to hold and tell us that sort of the risk on mentality is those buyers are not buying bitcoin.”

In the interview at the Trading Nation, Tom Lee pointed out and said that the tide is changing for cryptocurrency but in this case for both emerging markets and Bitcoin, especially if the U.S. Federal Reserve slows down its interest rate and hikes. Last month that is on July, Lee assumed and voiced his stance that Bitcoin could reach anywhere between $22,000 to $25,000 by the end of 2018.

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Kryptovault bitcoin mining firm receives bomb threat over rising noise levels

After a week receiving bomb threats, Kryptovault now has to face another difficulty with another threat forced by the local authorities living in that area.

According to a local editor of a newspaper, the bitcoin mining facilities that Kryptovault runs in Norway is at a huge risk of being shut down by the government and municipality as their following noise pollution complaints from residents living in that area. The people staying in that locality say that the huge fans that are required to cool down make too much of noise it takes 9,500 mining rigs at Kryptovault facility in Hønefoss to cool down.

As the relentless noise is continuous in that area, some of those living in the neighbourhood have had to avoid sleeping in bedrooms which are located near the facility. Others have decided to keep their windows shut in the hot summer months.

“The sound of the factory comes each minute, 24 hours-a-day, 365-days-a-year. Our summer has been spoiled totally because of that sound,” said a resident named Trond Gulestø told to the editor of the local newspaper.

The noise complaints have been made frequently besides that the local media reports also shows that the bitcoin mining facility has been running illegal operations and does not possess the requisite permissions.

“Arne Hellum, is the person who is responsible and handles all the construction cases for the nearby Ringerike municipality and other small area said that the government might now order Kryptovault to temporarily shut down in Hønefoss until it receives the required permission,” it was reported in the local newspaper.

Stig Myrseth present CEO of Kyprovault, has however pointed out that the firm had been informed that it had all the necessary licenses to do the work before it started operations. Stig Myrseth also added that the company had filed applications for the permission it does not already have.

Kryptovault is taking steps and new equipment to reduce the noise-pollution level from the current 60 decibels to reduce it under 45 decibels. The bitcoin mining facility of Hønefoss occupies a lot of hosting space and needs more of electricity power to do the work it needs approximately 4,200 square meters and uses 40MW of power.


Investors of Cryptocurrency lose thousands of dollars

The value of the Bitcoin went from down to $4,353, in October 2017, to up till $13,860, in December 2017. As a result, the US largest cryptocurrency brokerage Coinbase doubled customers during the period.

However, over the course of time, several contributing factors hit cryptocurrency markets and the value of Bitcoin fell to $6,926, in March 2018, as of August 20 it was trading at $6,265. The value of the market has fallen by about 75 percent ($600 billion) since January 2018.

According to a report in the local news-paper, an investor from the UK, Pete Roberts said that he use  his savings to invest in cryptocurrency totalling $23,000 into different cryptocurrency during last winter surge, which is now worth just $4,000. He said that his ambitions of making a quick money led him to financial ruin.

Pete Roberts is not the only investor they are many more investors who have seen this fate. Asian countries like South Korea and Japan have been particularly hit as there was hardly an activity in their cryptocurrency markets before the surge. As the value of the Bitcoin was climbing up fast, thousands of people invested their savings in the digital currency to gain more profits, but failed to do so.

Kim Hyon-jeong a japan investor is believed to have invested $90,000, which she gather together from her savings, an insurance policy and a loan. Since then, the value of her investments have fallen by 90%.

Majority of these investors think and said that their ire lies with smaller digital currencies, which sold tokens through Initial Coin Offerings (ICOs). Most of the companies failed to deliver their promises made or else there were exposed to scams, making their tokens worthless. Still there are thousands of investors who are holding their coins in the hope that the constant rise and fall will change and prices of the digital currency would rise.

Tony Yoo, a financial analyst based in Los Angeles, invested about $100,000 in cryptocurrency last year, the value of which declined by 70 percent at its lowest point. Tony Yoo is optimistic and said that many of these companies are perfecting their software and technology, roping in serious  engineers to deliver better services to investors. He is planning and willing to invest more money in digital money, as prices are extremely low now. Most of these investors had still hold on Bitcoins and are still holding as they had first invested in the technology in 2013 when it crossed $1,000. In spite of the recent fall, the value of a Bitcoin is around $6,500, which is over 500% than its price of 2013.


Bitcoin Cash Use in Commerce has seen a Significant Decrease this year

An analysis and review was made of payments received by the world seventeen largest crypto exchanges and it was seen that Bitcoin Cash (BCH) use in commerce has decreased, according to blockchain analytics firm Chain analysis, It was reported in local news-channel on August 20.

A group of people made analysis from Chain analysis and they found that BCH payments dropped to $3.7 million in May from $10.5 million in March, while the volume of Bitcoin (BTC) payments was to be estimated $60 million in May, was down from a high of $412 million in September. Senior economist,  at Kim Grauer Chain analysis, said in a phone interview with a local news- channel saying that, “There are fewer users of Bitcoin Cash and very fewer holders.”

This year, the Bitcoin Cash price decreased by 75 percent, while Bitcoin dropped by about 55 percent. According to Kim Grauer, he sees concentrated ownership as the reason for the low Bitcoin Cash adoption rate, where almost 56% of the cryptocurrency is controlled by 67 wallets that are not located on exchanges. Between 10,000 and 1,00,000 Bitcoin Cash are held by only two wallets. Kim Grauer said that it is possible the wealthiest holders are the ones sending a lot of the traffic to merchant services.

Bitcoin Cash appeared a year ago after a hard fork from the Bitcoin blockchain. During the time of launch of Bitcoin Cash it caused controversy in the community, Bitcoin.com Vice President of business operations, Alejandro de la Torre told the local news-paper about the importance of the fork. He said, “The ability to make forks and besides make sure to keep the community aligned was a great achievement. They provided much greater bandwidth and their by increase it per block by first increasing to 8 MB and then again to 32 MB. This additional room is more than what is needed presently, but Bitcoin Cash is seeing the future and looking ahead and getting ready to process high volumes of traffic. The greater the block size it allows more of Bitcoin Cash to store more information in each transaction, giving the blockchain space to write smart contracts on-chain at low costs.”