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Messages - CoinWill

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News / Google Search Can Predict Bitcoin Price Increases, Study Finds
« on: August 10, 2018, 06:28:34 am »
A recent study published by the National Bureau of Economic Research (NBER) suggests that cryptocurrency markets move depending on the type of attention they receive – unlike traditional financial markets.

In contrast with other traditional financial assets, cryptocurrencies don't behave or respond to the same set of market factors as traditional financial instruments but instead, move more closely with "cryptocurrency specific factors," according to the non-profit's report, which was published this week.

These factors include investor attention and market momentum, described as the "time-series cryptocurrency momentum at the daily and weekly frequencies."

The paper's authors, Yale University economists Yukun Liu and Aleh Tsyvinski, suggest that, contrary to public opinion, "the markets do not view cryptocurrencies similarly to standard asset classes."

https://www.coindesk.com/google-search-can-predict-bitcoin-price-increases-study-finds/

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News / Speculators, Not Drug Dealers, Dominate Bitcoin Use Now
« on: August 07, 2018, 05:54:55 pm »
The ratio of legal to illegal activity in Bitcoin has flipped, according to Lilita Infante at the U.S. Drug Enforcement Administration.

When Infante started seeing the Bitcoin pop up in her cases at the DEA five years ago, her analysis of blockchain data showed criminal activity was behind about 90 percent of transactions in the cryptocurrency. Now, illegal activity has shrunk to about 10 percent and speculation has become the dominant driver, she said.

That doesn’t mean criminals stopped using Bitcoin. Total transaction volume associated with illegal uses has surged since 2013, said Infante, who is a DEA special agent and part of the 10-person Cyber Investigative Task Force. The team focuses on dark web and virtual-currency related investigations and collaborates with other Department of Justice units including the Federal Bureau of Investigation and the Bureau of Alcohol, Tobacco, Firearms, and Explosives.

http://fortune.com/2018/08/07/bitcoin-speculators/

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News / Wall Street To Give Bitcoin Another Boost
« on: August 07, 2018, 05:52:27 pm »
Wall Street is working on a new platform which will ease the trading, storing and spending digital assets.

That’s bullish for bitcoin and other cryptocurrencies. It will help them gain acceptance among investors, merchants and consumers.

Last week, Intercontinental Exchange (ICE) announced plans to form a new company, Bakkt, with the purpose to create an open and regulated global ecosystem for digital assets. The new company is expected to work with a marquee group of organizations that includes BCG, Microsoft, Starbucks and others to come up with an integrated platform that will ease the trading, storing and spending of digital assets.

https://www.forbes.com/sites/panosmourdoukoutas/2018/08/07/wall-street-to-give-bitcoin-another-boost/#2f2d320230b5

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News / Icons of Impact: Can This Investor Help Make Bitcoin Green?
« on: August 07, 2018, 05:51:53 pm »
Mining Bitcoin consumes vast amounts of energy - roughly the same as an economy the size of Switzerland.  And most comes from dirty fossil fuel.

The future of blockchain promises improvements across transparency, access, and participation - but its current environmental toll makes many uneasy.

Enter bitcoinClean - a Bitcoin Hardfork that incentivizes miners to use green energy and keep them honest through peer review. I sat down with Walter Komarek, Cofounder of bitcoinClean, to peek into the future of a more sustainable Bitcoin.

https://www.forbes.com/sites/bdoherty/2018/08/07/icons-of-impact-can-this-investor-help-make-bitcoin-green/#1b3d0ad350e8

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BITCOIN prices crashed down past $7,000 today as investor confidence fell through the floor. Here are the latest news and live updates.
DAILY HEADLINES
Good afternoon and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.

A bad start to the week continues for the cryptocurrency market as BTC prices plunge below $7,000.

Bitcoin struggled to rally this morning and has lost 1.10 percent on the day to trade at $6,963.45.

Ethereum had some small gains yesterday but lost 0.01 percent to trade at $407.13.

Ripple sees more losses, falling 1.77 percent to trade at $0.421029, while Litecoin suffers a 1.35 percent loss to sell for $73.29 percent.

Investors fear that BTC could tumble further down the charts, but some experts are telling traders to hold strong - a bounce back may be on the cards.

https://www.express.co.uk/finance/city/1000201/Bitcoin-price-live-BTX-cryptocurrency-market-news-Tom-Lee

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Bitcoin's share of the entire cryptocurrency market is at its highest level this year and near where it was when the digital coin hit its highest price level in history.

The dominance of bitcoin — which is the percentage its market capitalization contributes to the entire value of the cryptocurrency market — stood at 47.6 percent on Tuesday, according to data from Coinmarketcap.com, a website that tracks such data

https://www.cnbc.com/2018/08/07/bitcoin-market-share-near-level-when-price-hit-record-high.html

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News / Coinbase Is Boosting Its Crypto Buying Limit to $25K a Day
« on: August 07, 2018, 05:45:57 pm »
Cryptocurrency startup Coinbase will boost its daily purchase limits and allow for "instant" trading following user bank transfers, the company announced Tuesday.

Currently, according to the startup, clients have to wait five days for those funds to settle. But that's about to change, with Coinbase reasoning that "when someone makes the decision to sign up, they don't want to wait days before they can start buying cryptocurrency."

https://www.coindesk.com/coinbase-enables-instant-trading-raises-daily-purchasing-limits/

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Cryptocurrency haven Malta has just seen the launch of its first two-way bitcoin automatic teller machine.

MALTA CONTINUES TO MAKE MOVES
The Maltese machine is located at the Quickelts head office on the Sliema seafront and opened to an event reportedly attended by a variety of market experts and blockchain enthusiasts. At the event, a demonstration on how to use the island nation’s first bitcoin ATM was provided.

As reported by Times of Malta, the ATM “allows users to both sell and purchase cryptocurrencies in real time and currently offers bitcoin and litecoin,” with more cryptocurrencies expected to be added in the not-so-distant future. Interested Maltese residents new to the cryptocurrency market may now easily supply themselves with a paper wallet and both public and private keys.

https://bitcoinist.com/malta-launches-first-two-way-bitcoin-atm-as-global-acceptance-rises/

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Germany's second-largest stock exchange is developing an ICO platform, it announced on Thursday.

Boerse Stuttgart expects to roll out the platform as part of  larger "end-to-end infrastructure" for "digital assets" it is currently developing and says the ICO platform will allow token issuers to conduct token sales with "standardized and transparent processes."

It will also offer a "multilateral trading venue for cryptocurrencies as well as solutions for safe custody," it said in a statement.

The bourse's announcement comes just months after it unveiled plans for a crypto trading app.

Dubbed Bison, the app is expected to be released in September. The debut of the ICO platform, trading venue and will follow Bison's launch, Boerse Stuttgart said, while its custody services will be available before Bison is live.

https://www.coindesk.com/germanys-no-2-stock-exchange-is-developing-an-ico-platform/

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After a user made an "enormous" gamble on bitcoin futures and lost, Hong Kong-based cryptocurrency exchange OKEx said it is having to claw back millions from counterparties.

The exchange explained on Friday that it force-liquidated an "unusually large" long position of 4,168,515 bitcoin futures contracts held by a client on July 31 after the user declined the exchange's request to lower the position.

Each futures contract has a notional value of $100, according to OKEx, so the total value of the position was over $400 million.

The platform said it subsequently froze the user's account and initiated a forced liquidation.

An OKEx spokesperson told CoinDesk that, even with the forced liquidation, the dropping price of bitcoin and the "sheer size of the order" mean it has had to trigger its societal loss risk management mechanism.

https://www.coindesk.com/okex-confirms-9m-clawback-after-enormous-bitcoin-futures-position-fails/

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Japan may not be quite the cryptocurrency powerhouse that the world thinks it is.

A deep dive by CoinDesk has found methodological flaws in widely-cited bitcoin exchange data that appear to overstate the importance of the Japanese yen as a trading pair. Our analysis of trading data collected from July 26-30 suggests that the U.S. dollar, not the yen, is the dominant currency traded for bitcoin by a wide margin.

Currently, analytics sites CryptoCompare and Coinhills offer a breakdown of bitcoin trading by currency pair, and until recently the data from both sites indicated that over 50 percent of bitcoin trading is denominated in Japanese yen.

The problem is that the vast majority of yen-denominated transactions are not "spot" trades of actual bitcoin for yen. Instead, they are derivative products: contracts that derive their value from the performance of an underlying asset.

https://www.coindesk.com/data-shows-us-dollar-not-japanese-yen-is-dominating-bitcoin-trade/

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