bitcoinccash

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.”

 

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Darji a promoter of BitConnect was held for Bitcoin Scam

Divyesh Darji, head of BitConnect in India, was arrested after he arrived in the national capital of India that is Delhi when he was returning from Dubai. Inspector P G Narwade of Criminal Investigation Department (CID-Crime) of Gujarat police said, “Divyesh Darji was living in Dubai. A team to search for him was issued against him. The Department of Immigration alerted us when he was on the way from Dubai to Ahmedabad, after which he was arrested this evening,” PG Narwade said.

“The BitConnect company came into existence in 2016, and in 2017, it launched and started its coin. It remained active till January this year. It released 2.80 crore coins, out of which 1.80 crore coins were sold to investors,” P G Narwade said.

“The accused Divyesh Darji  held seminars and events not only in India but also in other countries promising high interest daily interest rate of 1 per cent – on investment in BitConnect coins. The cost of one BitConnect coin on January 16, 2018, when the company shut down, was USD 362,” the Gujarat police said.

An FIR was filed recently, the third in the case being probed by the Surat unit of CID so far, the promoters of BitConnect collected Bitcoins worth Rs 1.14 crore from one investor before fleeing. “Employees working at BitConnect Surat admitted that they and promoters collected crores of rupees from thousands of investors” was claimed by the CID.

The coin scam came to light after Surat-based builder Shailesh Bhatt alleged that some policemen from Amreli district kidnapped him and his business partner and extorted Bitcoin and other cryptocurrency worth Rs 9 crore from them. Bitcoin is a form of digital currency which is not regulated or recognized by any of the Central banks. Shailesh Bhatt himself was later booked and was taken into jail without any proof for extorting cryptocurrency and cash worth over Rs 155 crore at gunpoint from two men who worked for Satish Kumbhani, who is one of the promoters of BitConnect.

 

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Bitcoin Holding Gains, while the market of crypto Slump Again

In the crypto market, Bitcoin is trading up by about 0.1% over the past 24 hours. The Bitcoin cryptocurrency is at the $6,438 price mark at the time of press, following a dip to as low as $6,051 earlier that day. After rising to $8,230 on July 25, 2018. BTC is down 8.5% this week. However, the coin is still up by 1% over the past 30 days despite market of crypto being down.

Ethereum (ETH) after losing the $400 support this Monday has plunged to as low as $306 today. Presently, ETH crypto is now trading at $327, with its price 8% down over the 24-hour period. This crypto coin has experienced the heaviest losses among top ten coins by market cap on that day. Ethereum (ETH) has lost 25% of its value from past 30 days, and more than 50% over the past 3 months.

In top 20 crypto altcoins by market cap, EOS and IOTA altcoins have seen huge losses over the past seven days, according to the local news-paper. During the time of press, EOS was trading at $5.23, having lost around 25% of value over the past few weeks, while IOTA is down by 36% in this week, and hence it was trading at $0.54.

Total market capitalization has dipped to as low as $206 billion today, but the markets have managed to retrace some of those losses, bringing the number to $216 billion as of press time. While the total market cap has fallen very badly and not seen since mid-November last year, the number of all digital currencies has recently surpassed 1,800, according to the report by the local newspaper.

CEO Dan Morehead of Pantera Capital claimed that crypto markets are reflecting some overreaction from the investors. According to Dan Morehead, many of them have mistaken the importance of the recent postponement of the U.S. Securities and Exchange Commission’s (SEC) decision on a Bitcoin exchange-traded fund (ETF) application by companies VanEck and SolidX.

In addition to this he recommended investors to focus on this Intercontinental Exchange’s (ICE) announcement of its own crypto platform.

WBF, Bitcoin news board

Keynote Brings the ​World Blockchain Forum to London

The world’s largest blockchain conference explores the promise of blockchain technology, trends and investments.

Keynote is excited to announce the program agenda for their next endeavour, the world’s largest two-day blockchain coming to London this September. The conference will feature a star-studded lineup of over 100 world class presenters including a special fireside chat with influencers who have been part of some of the largest ICOs to date. The focus is on blockchain technology; specifically investments, successful past and future ICOs within the industry, legal implications and regulations, and how decentralization is disrupting the banking industry.

The World Blockchain Forum serves as a learning guide for, not only the technical tools of investing such as Bitcoin and Ethereum, but also as a stepping stone to wise investing. The conference will showcase the latest innovations in the blockchain industry, and curate conversations between the world’s leading pioneers and experts about the promise and future of blockchain.

Confirmed Speakers Include :

● David Chaum | Rise of Crypto
● Jack Gavigan | Open, Permissionless, Zero Knowledge Cryptography
● Josh Halferty | One Exchange. All of Crypto. Decentralised.
● Vanessa Grellet | Blockchain for Social Impact
● Marjan Delatinne | Ripple Solving Global Payments
● Jo Jo Hubbard | Blockchain & the Energy Transition
● Jason King | Securing the Future of Blockchain
● Sang Lee | The Tokenization of Asset Management
● Jeff Berwick | The Dollar Vigilante
● Veronica McGregor | Regulation Panel

A full list of confirmed speakers and the agenda can be found here.

As part of the World Blockchain Forum London Keynote is thrilled to announce the launch of a new $6 million fund dedicated to supporting diversity and inclusion in the blockchain industry. The Keynote fund will ensure people from all fields are invited to play an active role in the development and evolution of the expanding industry.

Keynote’s founder and CEO, Moe Levin, commented:

“Digital currencies and blockchain, are intended to be democratizing and equalising. Blockchain and cryptocurrency industries are looking to create work opportunities in a number of fields, and it’s really important the industry is representative of the global population. Diversity is the basis for collective achievement, and we therefore need more people to join the blockchain conversation.”

Keynote is committed to providing a platform that will support and showcase diverse projects and innovations, to ensure everyone is given an equal voice and opportunity to participate and succeed.

The $6 million dollar fund will be officially launched at this year’s World Blockchain Forum in London where Keynote will share their vision for the future of the blockchain industry, how diversity and inclusion are vital to its success, and the initiatives they will be driving to support diversity and inclusion in 2018.

The World Blockchain Forum London runs from 3-5 September 2018 and tickets are available at
london.keynote.ae/tickets.

About Keynote
Keynote was launched in 2012 by blockchain strategist Moe Levin. Further information and details about Keynote and the event can be found at: london.keynote.ae

For media inquiries, please contact Amandah Hendricks Chief of Communications, at
amandah@keynote.ae

Splitt / Bitcoin news board

Splitt Introduces Advanced Cryptocurrency Cloud Server for More Profitable and Safe Crypto Mining

Splitt, a recently launched cloud server cryptocurrency mining service, is now making crypto mining user-friendly and safe like never before. Available currently in fifteen cities around the world, Splitt’s Cryptocurrency Cloud Server is steadily gaining popularity amongst the amateurs as well as experts looking to mine cryptocurrencies on a larger scale.

August 7, 2018

The global crypto mining space is currently abuzz with the launch of a new cloud server cryptocurrency mining service named Splitt. Developed taking the future of cryptocurrency mining into account, this service introduces an all new approach to carry out cryptocurrency mining at home without any hassles whatsoever.  With its highly sophisticated Cryptocurrency Cloud Server, Splitt prioritizes on offering a standardized, high-performance cloud computing environment in all fifteen cities they are serving at present.

Over the last decade or so, Bitcoin mining has become extremely popular amongst the crypto enthusiasts around the world. The process involves solving complex mathematical calculations via computers to receive a block in the blockchain and Bitcoins. However, due to the recent increase in the number of miners, Bitcoin mining has become extremely competitive. Responding to this situation, the Bitcoin network has increased the difficulty level of their puzzles.

The changing landscape of bitcoin mining demands optimized mining techniques to ensure profitability. Splitt offers mining services with ASIC integrated chips that are faster compared to GPU and CPU mining, and consume less power. Their cloud mining service requires no hardware, and utilizes shared processing power from data centers. Unlike the traditional mining techniques that require constant maintenance, Splitt makes mining cost-effective, more efficient and flexible for the miners.

Some of the most important features of Splitt include

  • Better Pricing: Users need not wait for their equipment or deal with issues such as pool fees and system crashes. Hash power once purchased is retained for the entire duration of the contract.
  • Transparency and Service Delivery: Splitt follows the highest level of transparency and ethical standards, and discloses everything to the public. The company is easy to locate and their staffs regularly attend a number of events.
  • Mining Different Coins Simultaneously: Users can mine different coins with their purchased hash power. Allocation of hash power between the coins is completely flexible and simple to choose.
  • Three-tier Affiliate System: Users can earn commission for deposits of their downline up to the third level
  • Bonus System: Depending on the turnover of their first line, users are offered bonuses up to 10 BTC.

Splitt users have the option to choose from three different mining contracts with different rates of interests as mentioned below.

  • Dynamic Cloud Mining: 2.64% daily, hourly misc.credit, 0.001 BTC minimum deposit, and 25BTC maximum deposit
  • Bare Metal Simplified:5% daily, every twelve hours misc.credit, 0.025 BTC minimum deposit, and 50 BTC maximum deposit
  • ASIC Mining 4.7%: 4.7% daily, daily misc.credit, 0. 5 BTC minimum deposit, and 500 BTC maximum deposit

In order to enhance the user experience of their customers, Splitt has recently launched their mobile application that can be downloaded from Google Play. This useful Android app allows the Splitt users to continue cryptocurrency mining on the go.

To download the Splitt mobile app, please visit https://play.google.com/store/apps/details?id=co.splitt

It also has a flagship Telegram channel to help users broadcast their messages to a larger audience. More about this Telegram channel can be found at https://t.me/splittchat_en

It is the result of months of hard work by a twelve member international team led by its CEO Patel Nguyen. A self-made man who has worked his way up from the bottom, Mr. Nguyen is currently one of the most admired experts in the South Asian cryptocurrency fraternity. The company’s CTO Mr. Kim Lee is a Bitcoin mining expert who was actively involved in identifying certain deficiencies in the process that were later addressed with the founding of Splitt.

“Flexible multi-algorithm cloud mining and alternatives to mining Bitcoin are just a few reasons to use Splitt’s services,” says Mr. Patel Nguyen. “We understand that mining of Bitcoin is difficult due to competition and the complexity of cryptocurrency algorithms. Minimal hardware, equipment, less consumption of electricity as well as easier travel and movement are some of the benefits you can expect while using Splitt.”

To find out more about Splitt, please visit https://splitt.co/en/

About Splitt: It  offers a user-friendly alternative to cryptocurrency mining from home at any time. It is suitable for amateurs as well as cryptocurrency experts working on a larger scale. The cloud mining service offers a fresh alternative to traditional means of cryptocurrency mining. The company’s priority is to offer a standardized, highly reliable, and high-performance cloud computing environment in all of the fifteen cities they serve at present.

Contact: Gerald Snief

Email: gerald.snief@splitt.so

crypto

Poll conducted reveals that 75% of the US investors believe bitcoin is risky

Wells Fargo and Gallup conducted poll and revealed that nearly three quarters of the US investors with more than $10,000 in bonds, stocks and mutual funds think that bitcoin is a very risky investment. The week-long study which surveyed nearly 2,000 adults in the country who have invested either in retirement savings account or through any other account unveiled that only 2% currently own bitcoin, while more than 70 percent of the people have no interest in ever buying bitcoin. The poll conducted further concluded that 26% are intrigued but have no plans of investing in bitcoins anytime soon.

The survey found that bitcoin is considered as the risk investment. The risk is the primary reason for few investors are holding the cryptocurrency. While 75% think bitcoin to be very risky and less than 10 people surveyed thought bitcoin was not at all risky at all. Moreover, only 2 percent thought bitcoin was not too risky with the remaining 23 percent thinking of bitcoin as being at least somewhat risky.

The study also revealed that the thinking and perception of the investors regarding cryptocurrencies changes with gender and age. In addition, the statistics show that the perception of bitcoin is risky or not risky varies among investors in different age and gender. The men and younger investors are far more likely than women and seniors to say they know something about bitcoin or other digital currencies, explained the poll Wells Fargo and Gallup. During the poll conducted it was seen that only one percent of women and three percent of men had the sample owned bitcoins. ” Presently most of the investors are on the sidelines, knowing little to nothing about bitcoin. Few are already invested in it, and even fewer plan to jump in soon,” this was concluded the by Wells Fargo and Gallup.

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Xinjiang an autonomous Chinese region to ban Illegal bitcoin miners

It was confirmed by the Government agency that all the illegal bitcoin mining will be eliminated by the end of august from Xinjiang, an autonomous region in China. The confirmation report came following the leak of a government notice issued by Xinjiang Uyghur Economic and Information Commission (EIC), indicating that the government authority was demanding the local utility companies report and shut down their illegal bitcoin mining operations. As per the report in local news paper, an official from the Commission confirmed the authenticity of the document on Monday, mentioning that it was drafted by the EIC’s unit in charge of the Xinjiang region’s utility issues.

The decision was made in the month of January and followed by a notice that Xinjiang required utility companies to make regular reports to the authorities on bitcoin activities locally, as a part of which wider move was made to eventually guide these entities to an orderly exit of the business in the a nationwide and area. The report defined bitcoin miners as any operation in which the government had no knowledge of their work, and they where not registered with the government as a licensed business entity or has been using electricity without formal contracts with utility firms are illegal bitcoin miners. It was also reported, that the utility companies in the region are now tasked with a mission of shutting down such unlicensed operations. Their task would also be to report back to the authority on their progress by the end of August. The Economic and Information Commission have written stating that, “Utility agencies and companies will be held responsible if they failed to shut down illegal bitcoin mining operations in Xinjiang region by the end of this month.”

The Canadian blockchain start-up chief executive, Scott Meng, said: “He has two partners in Xinjiang: one has 40,000 crypto miners, the other has 18,000. They have been asking for help in the past days, urging me to look for places in Canada and US as substitutes. But even for him it is difficult, he has to get electricity first, even after if I had that, he need to build farms from scratch.”

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Bitcoin reaches above $8,000 & leads to other cryptocurrency to increase

The value of bitcoin has reached above $8,000 this week for the first time since May, and the chances are they might be in a good fortune and the price of bitcoin will increase as we have seen the cryptocurrency rise in value by more than 30 percent in the space of two weeks.

Ethereum, ripple, EOS and other major cryptocurrencies, have bucked the usual protocol by not mirroring bitcoin’s market movements. The bitcoin cash itself a spinoff of bitcoin – followed suit with a sudden increase of 5 percent within the last 24 hours.

Bitcoin latest price gains mark a month of steady increase, which followed its worst start ever to a year. Its present price is still a long way to reach the mark of $20,000 which we have all seen in the year 2017 and this amid remarkable enthusiasm for the digital currency. Experts and Analysts said the positive news has helped drive bitcoin momentum, which in itself will lead to further good news for the cryptocurrency space.

“This period is an extremely exciting period for cryptocurrency and blockchain technology with increased interest from Tier 1 banks and financial institutions,” David Sapper, COO of Blockbid, told this to a local newspaper.

“As it will take a long time for these companies to implement their cryptocurrency plans, positive news within the cryptocurrency sphere will benefit the market and raise prices as we have seen with Bitcoin in the last seven days. As the market of cryptocurrencies grow and start to take the bigger part of the market in regards to trading, more and more of these financial institutions will be looking to see how they can capitalize on the growing cryptocurrency market.

Some analysts and experts even predicted that the this run of good fortune could take bitcoin all the way back above $10,000.

Matthew Newton an analyst said, “By soaring past those key barriers of resistance, it would seem history is not repeating itself and there’s real strength in the move,” he said this at the trading platform eToro. He also added to that, ” If the price of bitcoin can close above $8,000 today, we could assume that we have a good run towards $10,000.”

 

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Ripple XRP is not a real cryptocurrency but a Digital fiat – says Expert

Ripple’s (XRP) journey from $3.40. back down to today’s price of $0.49 could soon see it ring-fenced from other competing cryptocurrency, with concern over its centralisation potentially excluding Ripple (XRP) from entry into a price boosting regulatory framework. It was seen in the last week that the rival bitcoin recruited another billionaire believer from the world of mainstream finance after it was revealed that investor Steven Cohen has placed money into a hedge fund focusing on cryptocurrencies and blockchain-based companies.

Cohen Private Ventures has invested their funds in Autonomous Partners, new hedge fund buying up cryptocurrencies and equity in blockchain-related companies as the world of mainstream finance begins the search for the next generation of investments in the digital age.

Ripple (XRP) is one notable absence from the spate of technologies in which Autonomous Partners is interested, raising concern that the XRP tokens will be treated differently when regulations arrive. If they come in the picture, Securities and Exchange Commission (SEC) in the US decides that the tokens are securities they could then be subject to different laws than tokens that are not. From, Autonomous Partners, Arianna Simpson said: “I have a lot of concerns about the level of centralisation, and I have regulatory concerns if what they have issued is a security.”

Elpis Investments, CEO, Anatoly Castella told to a local news-paper that that ripple’s XRP is set to miss out because it is not a Digital Fiat, and not a real cryptocurrency. Mr Castella warns to the investors that XRP falls short of the “purest interpretation of cryptocurrency.”

Mr Castella also said “Ripple (XRP) resembles a fintech platform combining the best elements of fiat money and blockchain cryptocurrency.” It should be considered Digital Fiat, not a cryptocurrency. The potential for missing out on the very regulations that go on to propel rival cryptocurrencies to all new price levels, Mr Castella says that the SEC should consider to create a regulatory framework for digital fiats like ripple and a sustainable ecosystem for the crypto start-ups, presently held in a state of limbo. He also said that “This will also help to ensure that real cryptocurrencies like bitcoin, Ethereum etc will not be damaged and misunderstood by the start-ups adopting the wrong regulatory approach from the outset.”