How Many Bears Does it Take to Burst a Bitcoin Bubble

If the markets were of the opinion that Bitcoin was enemy number one to the financial markets, the torrent of opinions coming from leading figures in the financial industry in the last few days certainly justifies such a view.

With the cryptomarkets falling back from December and the start of the year record highs, leading figures have seized the opportunity to kick Bitcoin while it’s down.

Goldman Sachs this week issued a warning that cryptocurrencies have now moved into bubble territory, with the warning coming in spite of the Bank setting up a Bitcoin trading desk for its clients, looking to benefit from the heightened interest in the cryptocurrency market.

UBS Chairman Weber has also joined the ranks of the bears, stating that Bitcoin is not an investment that the Bank would advise on.

Perhaps JPMorgan CEO Jamie Dimon feels somewhat vindicated for his rants last year, though even Dimon shifted away from his previous call on Bitcoin being a fraud, whilst maintaining his bearish view on Bitcoin this year.

The World Economic Forum in Davos has provided the platform for the Bitcoin bears to speak in one voice and one wonders whether cryptocurrency investors that entered the market late last year are beginning to listen.

One would certainly think that there is some influence, when looking at the cryptocurrency market caps this week.

Bitcoin’s market cap has fallen to $175.6bn, with Ethereum dropping to $93bn and Ripple down to $48.6bn.

When looking at how far the market caps of the 3 largest cryptocurrencies have fallen in just a matter of weeks, such declines would suggest that speculative investment has been driving the cryptomarkets and few can deny that. After all, it would be imprudent to suggest that 400% moves in a matter of days is based on a cryptocurrency’ tangible offerings, which continue to be limited at present.

With talks of hackers stealing millions from cryptomarket initial coin offerings, not to mention from the crypto exchanges themselves, it is more akin to the Wild West than an investment option for the everyday investor on the street.

Governments and regulators have also been vocal, with news of the South Korean government imposing a 24.2% taxes on the crypto exchanges another blow for the asset class, which continues to face uncertainty.

If bubble psychology is anything to go by, the emotional investment that contributed to the meteoric rise in cryptocurrencies last year may have now shifted to a more logical one, with the increased number of calls for caution akin to the preludes of a bubble ready to burst.

For Bitcoin and the rest of the cryptomarkets, there is just one distinct difference and that is the fact that the cryptomarkets lack regulatory oversight.

Cryptomarket manipulation has been rife and is unlikely to abate anytime soon, with the Bitcoin Billionaires eager to maintain current levels.

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Looking at Bitcoin’s moves in the last 24-hours, Bitcoin fell 13.2% from Monday’s open to yesterday’s intraday low $10,028.4 before recovering to log a 6.5% loss for the day.

Through the first part of this morning, Bitcoin fell 5.62% from the open to this morning’s $10,202 intraday low.

Few would argue that the trend is nothing other than bearish at present, with even the most optimistic needing to pause and consider what lies ahead for the day and the remainder of the week.

At the time of writing, Bitcoin has managed to recover from its intraday lows, down 2.76% to 10,510.7, finding plenty of support at $10,200 levels, but the question does need to be asked on how long the support levels will last before the market buckles and begins to move southwards with more conviction.

While the decentralized ethos of Bitcoin and the cryptocurrencies in general is meant to keep it free from the influences of governments, regulators and financial institutions, what we have seen in recent weeks is quite the opposite.

There is no doubting that blockchain technology is one that will likely stand the test of time, the doubts are whether the cryptocurrencies can hold on to current levels.

History suggests not, but that doesn’t mean that there aren’t going to be some wild swings before it all moves to levels that even the most bearish can stomach.

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Market Snapshot – South Korean Authorities to Tax Exchanges

The entire crypto industry was reeling under the fear of a crackdown from the South Korea regulators last week as there were reports of witchhunts, threats of total shutdown of exchanges and all other stories that were emanating from there though the authorities refused to say anything than to just say that they are looking into the situation and had not made a decision as yet.

Today, they are reports that the authorities have announced a 24.2% tax on the crypto exchanges out of the profits that they make. Though this could affect the industry in a temporary manner as the exchanges look to pass on this effect to its customers, in tthe long run, this is likely to be termed as a hawkish development as it almost confirms that there would not be any shutdown of the exchanges in the short and medium term. So, the worst fears are gone for now and we should see the crypto industry benefit from this in the medium term.

Taxes In Line With Other Industries

The taxes that have been announced are in line with the normal corporate taxes that are prevalent in South Korea. Also, this is in line with the crackdown on the exchanges from the South Korean authorities. They have blocked the use of anonymous accounts and also forbidden foreign persons and entities from opening accounts in the exchanges.

Though this move is likely to affect the market temporarily and lead the prices lower, we believe that these measures are a sign of the market maturing in the medium term and hence should attract larger investors and traders. It would also remove the uncertainty that has been hanging around the markets for the past week or so and lay down the guidelines which the authorities from other countries are also likely to take a cue from. Hence, these should be bullish for the crypto industry in the medium term and lead the prices higher during this period.

Trading Values Stabilize for Cryptocurrencies, Investors Doubting Venezuela’s Petro Currency

The SEC continues to talk about ETF’s and question how they will be valued regarding Blockchain funds.

Cryptocurrencies Take a Breather and Stabilize, SEC and ETF’s

Cryptocurrencies have taken a breather and have stabilized after their massive volatility early last week. Bitcoin, Ether, and Ripple among others have entered today’s trading relatively calm. The Securities Exchange Commission is still making the news. After publishing a letter last week stating it has many questions on how cryptocurrency ETF’s will be valued, funds which claim they will trade in Blockchain related stocks will come under more scrutiny.

Ethereum Battles Swings as it Trades in the Middle of its Range

Ethereum is in the middle of its trading range. The cryptocurrency has made huge strides since early December when it was trading at 400.00 U.S Dollars. Its current value near 1060.00 U.S Dollars is a gain of more than double. However, Ether did attain a high of about 1360.00 U.S Dollars about a week and a half ago, but it also saw lows of nearly 760.00 U.S Dollars only a few days later. The wild swings of value for Ethereum are likely not done.

ETH/USD 4H Chart
ETH/USD 4H Chart

Venezuela Cryptocurrency Met with Skepticism

Venezuela continues to talk about the formation of its own government-sponsored cryptocurrency called the Petro. Venezuela claims it will base the coin on its Crude Oil based economy. However, investors have shown little interest and outright skepticism regarding the venture, knowing full well the sanction mired nation faces a difficult road ahead.

Davos World Economic Forum and Blockchain Discussions

The Davos World Economic Forum will get underway tomorrow and Blockchain & Cryptocurrency will be a major talking point during the conference.

  • 23rd-26th, Switzerland, World Economic Forum Annual Meeting

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

BANKEX: “We will Become a safe haven for crypto-investors”

  • We’ve heard a lot about BANKEX since you often speak at conferences. The company has successfully completed the token sale. What do you already have and what do you plan to build with the attracted funds?

In general, business owners in a certain industry, such as metallurgy or car manufacturing often suffer from cash shortage or lack of liquidity. Meanwhile, they are sitting on assets. To free up the money and get floating capital, we invite them to buy our tokens. Tokenization of assets will subsequently allow these companies to use our service. And many people buy a significant number of tokens.

So, how does it work? Our processors are similar to the securitization of a real banking menu. Most importantly, our know-how is not the blockchain itself, but an off-chain, which combines blockchain with other technologies. We create a process that transfers reliable and verified data to the blockchain.

Our approach is unique in particular cases: we investigate what exactly can be used to collect data about an asset. For example, machine learning technology that collects data from sensors. The goal is to eliminate human factors and possible frauds. Do not expect the mine owner will honestly tell how much coal is being extracted, because he is interested in numbers, a lot of things depend on them. Therefore, it is necessary to obtain these data from sensors installed on trolleys and automatically read how much coal is mined every day. Another example is data collection by a third-party company that installed its software, which you can trust. The third example is to use the data of a foreign company that is also working on this mine, as well as many others around the world, without the participation of the mine owner. This player can be trusted because the company values its brand.

We provide money to ensure the cash flow of the mine regardless of who owns it. If the ownership of the mine is transferred, all the cash flows or debts will fall upon us. This tool is the tokenization of assets, and we are willing to use it.

We are like Goldman Sachs on the blockchain. As platform owners, we will profit from each transaction.

Our first partner is the Hollywood producer Christopher Woodrow. We are building a joint Moviecoin platform, which will be used to finance movies. This fundraising site is for movies that are used to be produced by Hollywood studios that have tens of millions dollar budget.

Moviecoin will be presented in May 2018 at the Cannes Film Festival. I’ve already been invited to the red carpet. There are a number of well-known producers and directors supporting this platform, which will raise 100 million dollars for its development and initial investment in movies. Then it will raise billions – simply because every year the Hollywood film industry attracts 5 billion dollars. The platform will allow you to create a standard on which investors can invest in blockbusters with minimal losses. It is well known that now the studios operate in a way that causes all the newcomers in Hollywood to lose money. Our goal is to reduce investment risks for newcomers in Hollywood through Moviecoin tokens.

  • What role does BANKEX play in building this film production platform?

Moviecoin platform will use BANKEX tokens in the same way as smart contracts on Ethereum use “gas”. This means that 10% of the commission collected on this platform will be for purchasing BANKEX tokens. Thus, all owners of BANKEX tokens will get buyers from this platform.

Moviecoin is only the first platform we build. In the future, there will be about ten. The next platform, which we think will be designed to fund musicals in Hollywood. Then, a mortgage securitization platform will be launched. In this plan, we also consider the prospect of the secondary market for private shares. In all the areas I just mentioned, we already have clients.

We build a range of these assets. Our goal is to provide each asset with liquidity. The ultimate liquidity lies in the exchange. On our platform, we will build a bridge connecting capitals from the stock exchange with blockchain instruments. A tool like the one used for securitization will be created. That means a SPV will be made. Maybe there will be a Special Purpose Acquisition Company (SPAC), which will be listed on the stock exchange and provided with tokens generated on the basis of our protocol, in particular through Moviecoin.

  • And which stock exchanges are you considering?

NYSE, New York – I intend to make the company global immediately. I invited to advisors experts who created SPAC 20 years ago. SPAC allows, for example, taking 3 million dollars to raise 50 million in the private market for acquisitions and further development. We give a year to purchase purposes. After the acquisition, the company will become public – i.e. listed on the NYSE.

This is a specially designed artificial method that gives an opportunity to people who have many years of experience in the industry, using small financial means, to immediately gain market confidence and capitals to purchase companies. So you can more effectively manage existing private companies by making them public. We and our advisers will establish a mechanism for creating blockchain assets on the capital markets.

  • Your token costs about 500/ETH. How did you set this price?

We have an understanding of how many tokens we need and what kind of capitalization is needed. We split this capitalization by the number of tokens and chose the unit of measurement. We proceeded based on our understanding of the market price: as a rule, when issuing the tokens, there are several tens of cents, and we tried to set prices in the same area. When we launched, Ether was much cheaper than now – the exchange rate was about $ 200/ETH. And then it was about 55 cents for 1 token. After the token sale, the price is depending on exchanges.

  • How many tokens do you release?

We have 400 million tokens. 220 million goes on sale – it’s 55%. Among this 220 million, 80 million – for retail token sale and 140 million is for institutional buyers. This means that our platform is aimed primarily at institutions, which will use our tokens to tokenize their assets and their clients’ assets.

Small buyers can also use their tokens to tokenize their assets. It’s not necessary to create different protocols for different platforms, they can use the existing tools for their assets.

Among the existing tools, there is a basic contract for asset tokenization, a contract for hedging the cost of Ether. In the near future, there will be quite a lot of derivative contracts.

The difference between institutional tokens and retail ones lies in the fact that institutional ones cannot be resold within a year. They can only be used for their intended purpose, namely: as a “gas” for asset tokenization. The minimum contribution is one thousand ETH. Thus, these tokens will be bought by institutional clients, who need the tokens for future work. Someone can buy them for the purpose of resale, but the person has to wait for a year to do that.

  • Does the value of your tokens depend on the price of Ether?

They are correlated with Ether. In fact, this means that if the price of Ether increases, then our tokens also grow in fiat. If it declines, our tokens in fiat also decline. But this is only during the time when the tokens are released. We will continue our own path, the value of our tokens will depend on capital inflows and real assets on which our platform is based. In this regard, the price of the token will depend on the turnover of those platforms, rather than the price of Ether.

  • For example, if there is an exposure on one of the mines owned by your clients, is the value of your tokens going to drop?

We benefit from providing tools to people and businesses. Our profit comes from helping them to get funding, not their products or how they operate.

  • Does it mean if the movie tanks at the box office, you are not affected?

This can reduce the demand and credibility of the protocol. However, in the moment we profit from the fundraising committee, the film, having raised money on the Moviecoin platform, will have to pay an average 4-6% for the token releasing. This is the average commission in the market where funds are raised from bankers. But it is lower than the cost most companies have to pay for launching their own token sale.

BANKEX will become a safe haven for crypto-investors because our revenues and our supply of demand will be based on the real sector. This is similar to the principle of gold reserves. Perhaps, crypto-funds will even keep portfolios from us, because we diversify the risks.

Cryptomarket in Recovery, Led by Stellar Lumens

It’s a 2nd rising from the dead for the cryptocurrencies, with last week’s Wednesday sell-off still fresh in the minds of the investor, though looking at the moves through the early part of today, one could be mistaken for thinking that its risk on and investors have managed to spend the weekend recovering from last week’s volatility, with new found optimism going into the week.

It’s certainly been a rollercoaster of a January, with the cryptomarkets having entered the New Year with high hopes of a continued rally from December’s gains that were impressive.

Perhaps the writing had been on the wall of a possible crash on news of a regulator looking to impose itself on the market, with the cryptomarkets having discussed the likely negative impact of such an event through the last quarter of 2017.

For now, the markets are looking ahead however and hoping for a better week than the last two that saw Bitcoin fall to 2018 low $9,222.00, with its market cap falling to sub-$200bn as investors ran for the hills.

The order appears to have been restored and, while the start of the day had seen a sea of red across the cryptocurrency board, things have improved through the morning.

At the time of writing, Bitcoin is up 2.78% to 11,880.55, with the markets seemingly ignoring the futures market, with the Cboe February contract up $350 to $11,750, recovering from an intra-day low $11,220.

If there were any lessons from last week, it would be the fact that investors should take less guidance from the Bitcoin futures market, with Bitcoin’s weekend high $13,052.12 likely to have been supported by the fact that the futures markets were closed through the weekend.

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For the rest of the day, the market resilience to the negative news this morning will likely continue to support Bitcoin and the gang, with news of the North Korean government’s hacking into a South Korean exchange, stealing millions of Dollars to support its arms programs amongst other things, have caused little damage.

Bitcoin’s market cap has moved back through to $200bn levels, having struggled to recover in the wake of the last two weeks of volatility, with investors likely to continue to flood back in, assuming there are no further market shocks in the early part of the week.

Bitcoin’s recovery will likely be the tonic for the broader market. Stellar Lumens has taken the charge at the start of the week, up 6.84% to 0.4924 at the time of writing, with Ethereum looking to put last week’s woes behind, up 2.77% to $1,076.13.

If the sentiment continues to improve, there are certainly some gains to be had across the major cryptocurrencies, as they look to make a move towards their weekend highs, which are well below the all-time highs seen in late December and early January, before the double-dip.

While it’s looking bullish, some profit taking will be likely, however, with investor expectations of 100% moves on a day now well and truly managed, for now at least.

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Litecoin’s Future After Lee’s Exit: Soar or Snore?

For the cryptocurrency world, the headlines might be dominated by Bitcoin due to its domineering posture over the industry and because it accounts for over half of the total value of the crypto markets, but it is far not the best performing cryptocurrency in the world this year. With over 1200 distinct products, coins and tokens, it is very easy to get lost in the clutter of different names of products each professing to be the best thing on the market, trying to solve particular real-world problems. But on looking quite closer, one can see that among the best performing cryptocurrencies in terms of appreciation in value this year is Litecoin.

Whilst some brokers like 24option who offer Contracts for Differences (CFDs) trading on Cryptocurrencies, rightly focus on the main tokens, such as Litecoin, not least to safeguard the private investor and trader against ‘pump and dump’ volatility by crooks on the web targeting low volume and therefore easier-to-manipulate currencies.

Back to Charlie

Created in 2011 by Ex-Google engineer Charlie Lee with the vision of solving some of Bitcoin’s emerging problems such as speed and cost of transactions on its network, Litecoin has always marketed itself as the silver to Bitcoin’s gold that it is only in the market to complement the King of all cryptocurrency not to replace it.

But in 2017  this early altcoin suddenly showed off its muscle as it began trading in the beginning of the year at just over $4 and had gone to achieve a peak price of over $400 in just months, before sliding back somewhat*.

With its creator a well-known figure in the tech world, unlike Bitcoin’s Satoshi Nakamoto (whose identity still remains a thing of speculation), the rise in prominence of Litecoin this year seems to be creating a big controversy around the creator of the altcoin as he has not been shy to comment on it via his twitter page.

Zero to Hero to Zero?

Despite often warning Litecoin holders of the dangers of losing almost all their money from investing in the cryptocurrency due to the volatility of the industry, it seems this has not been enough for some crypto enthusiasts as he is often targeted for criticism from those who say he pumps up the coin for his own personal benefit. In response to these criticisms, Lee recently announced he has sold all his Litecoin holdings and donated others to charity, which should allow him to comment on it without any conflict of interest.

Lee’s decision has been received with mixed reaction across the spectrum, as some say Lee’s exit will allow Litecoin to grow more naturally without his constant interference, as he will now only be speaking from the point of view of an independent analyst, while others see the exit as something that will be detrimental to the currency long-term.

Those who believe that the decision is uncalled for point to the apparent stagnation of Bitcoin as it has been unable to carry out any meaningful update from its original form that will enable it to become more efficient as a currency, due to the lack of an influential figure like Nakamoto himself, who could have easily swayed opinion of the core developers and miners to accept such a change.

It is still early days to speculate what the exit of Charlie Lee will mean for Litecoin or its standing in the future in the cryptocurrency universe, but one thing we can all be sure of, is that the former Bitcoin junior is coming of age and will not shy away from wresting control from its big cousin over the rest of the day-to-day transaction niche it is seen to be abandoning, as it (Bitcoin) retracts to a more store of value coin.

But one this is for sure – whatever happens in the long-term, the short-term CFD traders on platforms such as 24option are able to take either view – long or short.

*Figures may not be up to date

Alpesh is a hedge fund manager and Author of Trading Online (Financial Times). He is a partner to 24option who offer CFD trading on Cryptocurrencies.

The content of this article constitutes Marketing Communication and does not qualify as Investment Advice or Investment Research. This article is produced by Alpesh Patel. Any views or opinions presented in this article are solely those of the author and do not necessarily represent those of 24option. The article is of a general nature and does not take into consideration individual readers’ personal circumstances, investment experience, and current financial situation. 24option accepts no liability for the content of this article, or for the consequences of any actions taken on the basis of the information provided.

Interview with Tomasz Tybon, Repux Chief Growth Officer

  • How was the idea of Repux born?

Over the years, we’ve experienced that SMBs struggle with so many things that it’s impossible for them to benefit from the big data revolution. Data-driven decisions are the foundation for solid business development. It’s so much easier for businesses to grow with a data-driven approach, we are helping small businesses take the leap to grow.

  • Can you explain the common people about your product?

With RepuX you can sell your data to (subject matter experts) data scientist, developers, experts – that’s just the beginning. What is interesting happens afterward when data scientist, developers utilize this data to develop and train machine learning algorithms for AI driven decentralized applications. Then you can buy those apps for actionable insights on how to grow your business by deciding to cut costs and spend on profit-generating activities.

  • As the company is carrying out ICO, what has already been done and what are you going to create on the money collected by the ICO?

We have a working prototype where you can understand the flow of our blockchain based marketplace. We would be working on a decentralized multi-signature storage system where SMBs would be able to upload their data securely and also allow the data to be consumed in a real-time format by developers. We would also work on integrating with legacy systems for SMBs to upload data.

  • How does Repux differ from similar services? How can your innovative service assist the new economic development?

First of all, we have a live platform which is quite unique in this space. Secondly, we have a more holistic approach as to what kind of data can be utilized on RepuX Platform where other platforms are focused on specific data usage patterns or specific data type.

  • How can Repux change SMB’s big data problem?

We are bridging the gap between sophisticated methods of improving business growth and lack of expertise by small and medium business

  • Why do you need Token Sale?

To fully develop the marketplace as there are far more opportunities than those which we’ve done till date. To educate the audience which is challenging as SMBs are in millions all over the world and they are highly fragmented.

  • What are your plans after ending of Token Sale?

That is where work actually begins! After token sale will end we will get back to the product and start reaching out to the target audience.

Our token sale starts on 6th March 2018, with Repux tokens can be purchased via Ethereum (ETH), Bitcoin (BTC) or wire transfer.

JoyToken will Launch its Token Generation Event on February 27

JoyToken is delivering an Ethereum-backed platform and protocol for online gambling that incorporates smart contract capabilities to reward players, developers, and the gaming operators.

JoyToken’s vision is ‘Smarter Games for Smarter Players,’ and will look to deliver smarter games to existing and new casino players by bringing the industry together and provide a central platform for developers, gamers and gaming companies, while also giving access to the smaller independent developers who lack the reach in the existing market.

One of the key issues faced by the industry is trust, with personal data has been far from secure.

Privacy issues are resolved with JoyToken’s platform, with the blockchain technology providing anonymity that protects gamer information. JoyToken will also be taking the gaming industry to a worldwide audience, breaking down legal and regulatory barriers that existing online gaming companies face, while also drawing in millennials looking for more from their online gaming experience.

JoyToken is certainly taking things seriously with CFO of Mr. Green as their advisor and a team that consists of senior executives from bet365 and Poker Stars.

Joy Token’s sale begins on 27th February and ends on 29th March of this year, with a total supply of 700,000,000 tokens priced at $0.20 per token.

Discounts are offered to early buyers with a 50% discount offered through the currently active presale that ends on 13th February.

With JoyToken’s partnership with PlayCosmo casino, licensed in the UK, Malta, and Curacao, JoyToken’s platform will provide developers with immediate access to PlayCosmo, delivering an optimal testing environment before release to online gaming companies.

For interested parties, more information can be found on JoyToken.io

Crypto Recovery or the Beginning of the End

Bitcoin looks to have averted a crisis for now, with Bitcoin rising 2.55% to an $11,485 close on Thursday, with the sub-$10,000 levels of Wednesday behind for now.

The markets certainly responded in panic to the South Korean government’s threats of shutting down the crypto exchanges, but unlike the dot.com era, cryptocurrencies didn’t get wiped out.

For now the general sense is that the cryptoworld can continue, even if the South Korean government does follow through with its threat, though the chances of all of the crypto exchanges being shut down may have eased somewhat The government’s first step will be to review the exchanges and their policies on KYC, money laundering and if they have addressed the issue of anonymity. There’s plenty of incentive for the exchanges to meet the basic requirements of the regulators. After all, the alternative would be closure.

Going into the New Year, there were calls of Bitcoin hitting $40,000 by the end of the year, while some continued to call the cryptomarket a bubble ready to burst.

The takeaway from this week seems to favour neither camp. For Bitcoin to rally through to $40,000 by the end of the year, Bitcoin’s issues will need to be addressed. For now, there is talk of some enhancements by the core development team that could provide some transaction speed improvements, but with Bitcoin’s competition far more favourable on speed and transaction fees, more is going to be needed.

So, with the bubble firmly intact, it’s onwards and upwards for now. For the crypto bulls, the rebounds are likely to cement the cryptos and how the cryptocurrencies progress will gradually become more aligned with the success of the blockchain technologies that each have to offer.

We’re not there yet and more turbulence is likely to be on the horizon until the market matures and investors become more attuned to the key drivers.

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At the time of writing, Bitcoin was up 4.84% to $11,792.15 in what has been a day of tighter ranges, with Bitcoin’s intraday low of $11,054.84 hit at the start of the day.

There’s been little bad press through the day to shock the markets, which is good news going into the weekend, though for the rest of the day the futures market could be the stumbling block, with the Cboe’s February contract down $15 to $11,750, marginally lower than Bitcoin’s current value.

The markets may have had a lesson in the week on the futures market and the fact that some degree of divergence is to be expected, as is the case with the more mature asset classes.

We’ve seen the futures market pin back the crypto’s, but have very little influence on the upside and investors may need to pay less attention to the futures markets for direction, particularly when considering the fact that the investors on the futures markets are newer to the cryptocurrency game.

Bitcoin is here to stay and the only immediate threat to Bitcoin remains Bitcoin Cash. The markets are certainly taking a closer look, with Bitcoin Cash up 7.39% to $1,810 at the time of writing.

These returns may not be as impressive as historical rebounds, but when comparing today’s gains to the more traditional asset classes, recoveries from more than 50% losses would have taken a far shallower path to current levels.

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Rebound in Cryptocurrencies Prices Early Today, Ripple Surges over 50%

Traders are debating the significance of the volatility in cryptocurrencies and fast conditions are expected to continue.

Debate Continues on Cryptocurrency Volatility, Wild Day of Trading Yesterday

Short term traders within cryptocurrencies had their courage tested yesterday as a whirlwind of pressure on the major coins created large declines, some stability and then a rise in values. Debates are raging on social media regarding the significance of the drops experienced by Bitcoin and other cryptocurrencies. Some cryptocurrency evangelists are calling for traders to buy on dips, while others ask sarcastically which dips they are referring to. One thing is for certain, volatility will continue.

Bitcoin Hovering Near 11,000 U.S Dollars, Speculators Looking at Pivot Point

While it is tempting to speak about the market swings seen in Ethereum, Ripple and other cryptocurrencies yesterday, the wild ride in Bitcoin stands out. Bitcoin dropped to a low water mark of nearly 9,300 U.S Dollars but then saw a surge upwards which took it above 11,000. Bitcoin has range traded this morning and it is near the 11,200 juncture. Short term traders should keep their eyes on the 12,000 U.S Dollar mark as a potential pivot point for speculators. Ripple is the star of the day so far with an increase of 50%, trading at $1.50.

Bitcoin 1H Chart
Bitcoin 1H Chart

South Korea Considerations Raise Worries Again

News has developed in South Korea again, as the nation considers a closure of cryptocurrency exchanges. This is important because South Korea possesses many traders. However some analysts point out, if South Korea were to shutter its exchanges, people holding cryptocurrencies would be able to transfer their balances to exchanges outside the country because of blockchain’s capabilities.

Bitcoin and Blockchain Conference the Philippines on the Calendar

A Blockchain and Bitcoin Conference will be held in Manila starting on January the 25th.

  • 25, Philippines, Blockchain, and Bitcoin Conference in Manila

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

Cryptomarkets under Pressure Again

Bitcoin managed to close out the day in positive territory on Wednesday, despite falling to a day low $9,199.59, hitting sub-$10,000 levels for the first time since the beginning of December. The new low raised more alarm bells across the cryptocurrency markets as regulatory noise continued to ring in the ears of the investors through much of the day.

Despite the negative sentiment, the day ended on a positive note however, which may have brought hopes of a better day today for the markets, which have been reeling through the week.

There was plenty of support from Bitcoin miners on Wednesday, with hashrate divergence favouring Bitcoin, in spite of Bitcoin Cash having a better day performance wise. Bitcoin’s average hashrate stood at 19.421E on Wednesday, up from the previous days17.0245E. In contrast Bitcoin Cash saw its average hashrate fall from 2.1298E to 1.7819E on Wednesday, suggesting that miners have yet to buy into a future without Bitcoin.

Wednesday also saw the expiry of the first Bitcoin futures contract and, while the futures markets were likely anticipating a solid entrance into the cryptocurrency market, it turned out to be quite the opposite.

The February contract settled at $11,055, down 26.3% from December’s opening $15,000, with the first of the futures contracts having pinned Bitcoin back from any customary rallies following the December launch.

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At the time of writing, Bitcoin is down 3.19% to $10,833.89, sitting just above an intraday low $10,693, while easing back from an intraday high $11,823.56 hit in the early hours of this morning.

Bitcoin Cash has also struggled this morning, down 1.69% to $1,712, giving up strong gains from earlier in the day, with Ripple being the only major crypto sitting in positive territory at the time of writing, up 1.51% to $1.32248, though Ripple had managed to splash through to $1.5 levels in the early hours.

The cryptomarkets may feel that there is a way around a possible closure of exchanges in South Korea, with the use of VPNs masking IP addresses, but the reality remains that Bitcoin trading will be just that little bit more elusive than currently, with investors who had recently entered the market and got burned unlikely to return any time soon. Well, not until there is one of the legendary crypto rallies to restore confidence in the markets.

Interestingly, the Asian markets seem to have had a greater appetite for the cryptos at present, in spite of the threat of exchange closure on its doorstep, with the cryptos seeing gains made through the Asian session fade.

For the day ahead, government chatter will need to be monitored, with the negative sentiment unlikely to ease off anytime soon.

The good news for Bitcoin is that the smart money has yet to suggest another crash, with the Cboe’s February futures contract sitting at $11,160, up $340 on the day. Bitcoin investors won’t be able to blame the futures market today and, as we have seen since the launch, the futures market can hinder the cryptomarkets, but for now seem unable to bring the investors back to the table.

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Interview with Zeepin Founder & CEO Zhu Fei

  • How was the idea of Zeepin born?

Currently, right confirmation and protection are difficult in the creative market, which reduces the passion for innovation. The supervision and distribution mechanism for copyright assets is not complete, and users lack a trust mechanism. The centralized transaction venue is unable to adapt
to the “lightweight” innovation development trend. The opaque and untrusted transaction mode is difficult to merger into financial innovation.

Zeepin is born to solve these problems.

  • Can you explain the common people about your product?

Zeepin hopes to create a fair and efficient creative ecosystem, which can be understood as a public facility in the blockchain field and has various kinds of tools (dApp) that anyone can use.

These dApps can solve the problems related to the protection of innovation copyright, remote cooperation, talent recruitment, and project financing. For example, the most fundamental dApp in the Zeepin community is ZeeRights that helps innovators in copyright protection, ensures tradable digital assets, and solves problems from the industrial source.

  • How does Zeepin differ from similar services? How can your innovative
    service assist the new economic development?

Zeepin has been concentrating on the development of distributed digital copyright restoration with an in-depth understanding of this industry since 2012.
Zeepin’s founder has been running a creative community for more than 15 years,
which empowers Zeepin with pragmatic experience.

Other than precious experience accrued from the past 15 years, Zeepin has also
extended its client base to a global scale covering 1.2 million creative users. It’s
way too apparent that the liquidity of Zeepin token can be maximized by the sharing of the more valuable resource. In addition, Zeepin used to cooperate with more than 200 iconic brands with accomplishing over 500 significant projects.

Zeepin, as a distributed creative industry, mirrors the true meaning of sharing,
which helps the dApps in Zeepin’s ecosystem sound more well-grounded. Among all 8 dApps, 3 dApps are finalized for testing.

Zeepin’s proven the ability to offer the powerful underlying technology depends
largely on the great rapport and cooperation established with NEO, On chain and Ontology.

Zeepin has been making further progress by the strategic partnership with some
iconic insurance brokers, financial institutions and creative groups for more
contribution to the ecosystem of Zeepin Chain.

Can you exemplify a designer life through Zeepin blockchain network?


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    • Why do you need Token Sale?
      All real-life applications and assets developed by the Zeepin team will be launched on Zeepin Chain, with ZPT to be used as tokens for this applications to support service compensation and business application arising from the Zeepin project, so as to allow ZPT to fully circulate. Our token sale starts on 18th January 2018, with ZPT tokens that can be purchased via Ethereum (ETH), NEO or Bitcoin.
  • What are your plans after ending of Token Sale?
    We are going to launch Zeepin Chain in March 2018, then a series of Dapps within the Zeepin ecosystem, including ZeeCrew, ZeeRights, ZeeCreate, ZeeTalent,
    and ZeeFund.

Bitcoin Cash in a Gravity Defying Move

Tuesday’s cryptocurrency slump has yet to be forgotten and the cryptocurrencies have certainly not looked like clawing back the losses, with Bitcoin sitting down 4.05% at $10,924.94 at the time of writing.

Alongside Bitcoin, Ethereum has fallen back to sub-$1,000 levels with an 8.34% decline through the early part of the day, with Ripple doing its best to stay above the psychological $1.00 level.

It’s not quite a bloodbath from a cryptocurrency perspective, but if sentiment doesn’t turn around soon, another drop could be on the horizon.

While the majors are in a slump, with Cryptonites across the world licking their wounds pondering on what’s next for the markets, there’s a beacon of light in the markets in the form of Bitcoin Cash.

Following Tuesday’s 18% decline, which wasn’t too bad considering some of the losses elsewhere, Bitcoin Cash has recovered from an intraday low $1,591.9 in the early hours of this morning to $1,768.2, marking a 3.23% gain at the time of writing.

While the gains not be considered significant when comparing it to historical moves across the cryptocurrencies through the latter part of 2017 and the first few days of this year, the divergence could become a significant moment in the Bitcoin Clan’s future and, more importantly show signs of which of the three will most likely progress to become the vision of Satoshi Nakamoto and become a realistic competitive alternative to fiat money.

It may be too early to call, but it’s certainly worth considering, particularly when the cryptomarkets continue to get bombarded with negative news, almost on an hourly basis.

Let’s face it, Bitcoin Cash has almost negligible transaction fees, while Bitcoin’s is material and that’s before considering block sizes and of course, transaction speeds.

Bitcoin transaction speeds alone make it an unviable alternative to fiat currency.

While there’s plenty of talk of regulation and the shutting down of exchanges, with BCC Token holders the latest victim of regulatory oversight, an alternative to fiat money will come in some shape or form and Bitcoin Cash may become the market’s choice and the decision may come sooner rather than later, with the market’s hand being forced by events through the first half of the week.

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A Bitcoin Cash move through to $2,000 levels would certainly cement Bitcoin Cash’s position over the near-term as a Bitcoin’s main rival, with Litecoin on the ropes.

The market’s will need to reconsider how it views Bitcoin however, which still seems to be the cryptomarket pet, in spite of all of its short comings.

Looking at the hashrates, Bitcoin miners may not yet be convinced of a paradigm shift in market preference between the two, with hashrate divergence favouring Bitcoin based on yesterday’s figures. Today’s figures may tell a different story however, though these will not be available until tomorrow.

The day ahead will more than likely see further volatility, with the only saving grace being that there’s unlikely to be any more regulatory chatter from Asian governments until tomorrow.

Bitcoin Futures haven’t thrown in the towel just yet, with February’s contract sitting at $11,320, though one wonders whether the markets will pay any attention with the key drivers coming from elsewhere.

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Bad News Grips Bitcoin and the Cryptomarkets

Bitcoin managed to move through to a Monday high $14,150.02 in what had been a positive first half of the day, before the slide returned, with Bitcoin ending the day down at $13,250, a 2.92% fall for the day.

While the day’s decline may not be significant in the world of cryptocurrencies, the bearish trend and the negative sentiment is perhaps of greater concern for Bitcoin investors.

While Bitcoin Futures have played their part in pinning back Bitcoin from any rallies this year, the latest pullback has less to do with the futures market and more to do with government and regulatory chatter.

Despite the South Korean government averting a cryptocurrency sell-off last week, there was more chatter on Monday, with calls for greater government oversight ultimately weighing on Bitcoin and the rest of the cryptomarkets.

Adding to the negative sentiment has been news coming out of China of the government being more interested in removing Bitcoin from the country altogether and not just the mining cartel.

A movement is afoot and it’s not a decentralized one that led to the exponential gains through 2017. Even France’s finance minister has jumped on the anti-crypto bandwagon calling for new regulations in the interest of clamping down on tax evasion and the funding of illegal activities.

While France may not be at the epicentre of cryptomania, a coordinated effort across the EU would certainly have an impact and if the EU can coordinate with the South Koreans and the U.S, then there really will be a problem for investors looking to retain their anonymity.

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At the time of writing, Bitcoin was down 7.95% to $12,525.03 and the negative news has taken the rest of the Bitcoin Clan with it, with Bitcoin Cash and Bitcoin Gold down 10.73% and 14.5% respectively.

Even Ethereum has been hit with the South Korean government’s talk, Ethereum down 9.37%, with the ICO market unable to prop up Ethereum in the midst of all the negative chatter.

It was only going to be a matter of time before governments and regulators stepped up the fight against money laundering and the funding of criminal activities, with 2017’s exponential gains raising multiple red flags from a regulatory perspective.

Bitcoin’s fall to mid-$12,000 levels has been a rapid one this morning, with the decline from $13,000 levels coming in just the last 30-minutes.

It’s certainly not looking bullish for the cryptomarkets and with talks of money laundering and theft adding to the negative sentiment, there are plenty of reasons for governments and regulators to begin taking a firm stance on exchanges and the anonymity offered.

Based on current trends, support levels are falling away and Bitcoin could be sitting at sub-$12,000 before the afternoon. The only real question the cryptomarkets will be asking is if this is the end.

To date, the cryptomarkets have found ways around government control and oversight, but the threat of a coordinated global effort is something that may be too much, even for the most evasive of exchanges.

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Bitcoin Struggles for Direction, with Canada Looking set for a Bitcoin Rush

The Bitcoin bulls were in search of a rally going into the weekend and things were looking good in the early part of the weekend, with Bitcoin moving to a weekend high $14,619.

There was a lack of momentum however and, with volumes on the lighter side through the weekend, it was downhill from there, with Bitcoin closing out the weekend down from Friday’s $14,167.98 close to a Sunday close of $13,732.75.

Last week, the South Korean government demonstrated just how influential governments and regulators can be on the direction of cryptocurrencies, with the threat of a ban on trading and a shutdown of the exchanges a scenario that could still play out at any time.

This time around, the government’s decision was to go against the Justice Department’s plans to introduce legislation to ban trading. While the U-turn eased tensions, the reality remains that the cryptocurrency landscape is changing, with new laws in South Korea requiring identity verification, the government having banned the opening of anonymous accounts.

There is still plenty for the markets to consider and some uncertainty over what impact the Chinese government’s planned clamp down on Bitcoin mining will play a hand in the direction of Bitcoin over the near-term.

Bitcoin is unlikely to see hashrates collapse, post an initial correction, with the mining cartel likely to relocate mining operations to other favourable mining environments, where electricity costs are low and temperatures are on the cooler side.

Bitcoin hashrates fell from Saturday’s 17.8749E to 16.7562E on Sunday. It’s too early to suggest that Sunday’s decline was as a result of the Chinese government’s progress on bringing an end to the power sapping mining that has certainly been rewarding for the Cartel.

It will be interesting to see who reaps the benefit of the Chinese government’s decision to bring mining to an end, with the market chatter pointing to Canada, Switzerland, the U.S and even India.

Bitmain has already announced a Swiss mining arm and is in talks with the Canadian government to open mining operations in Quebec, with Quebec reportedly producing a significant hydropower surplus, which would fuel a mining boom.

In the meantime, a fall in Bitcoin hashrates will be considered a negative, with Bitcoin Cash and Bitcoin Gold likely to benefit until the dust settles, though even Bitcoin Cash and Bitcoin Gold are struggling at the start of the week.

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At the time of writing, Bitcoin was down 0.25% to $13,613.6, with Bitcoin falling back from an intraday high $13,831.7.

It perhaps comes as little surprise that Bitcoin futures prices are down through the day, with 17th January contract down $170 to $13,630 and March’s contract down $260 to $13,550.

With the futures contracts providing very little direction for Bitcoin investors, investors will continue to look elsewhere for opportunity, with BNB up 10.3% against the Dollar, NEM’s XEM up 6.92% and EOS up 6.21% through the first half of the day.

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Interview with Andrew MacDonald, JoyToken CEO

  • How was the idea of JoyToken born?

It started whilst we were working on an online casino build, we were asking key questions about what makes an online casino product stand out and started to deconstruct some key issues with the industry. We noted that there had been some stagnation and complacency with no real innovation. There were a number of games providers, all generating similar content with no real commitment to building something new – mainly the same engine with a new skin wrapped around it. We also noted that there were key providers that generated the most desirable content, yet they too lack true innovation. From the view of the player, we felt that there was room to grow and that not only could we produce some great games, but we could add another USP using blockchain technology – true transparency. With this technology comes the opportunity to log every single transaction on a smart contract and for each individual player to audit their play should they wish to. This builds an environment where trust in a system isn’t necessary as we would have full disclosure with the player. Project JoyToken was a concept made reality from these observations; we believe that we have the power to shake things up and challenge the status quo.

  • Can you explain the common people about your product?

Simply speaking, we’re making it easier for games developers to create casino games and to bring them to market (the players). We then have a deal with the developers whereby they receive a revenue share from their games paid in JoyTokens. The developers are free to create something original and innovative or create a run of the mill type of game. We handle all the legal and compliance. The only catch is that they need to include our code to make sure that players can check the validity of their bet. All in all, it’s good for the people building the games and good for the players.

As the company is carrying out ICO, what has already been done and what are you going to create on the money collected by the ICO?

So far we’ve been working on the technology; making sure that we have a workable product. The API demo of this code is available on JoyToken.io. It’s been essential that we show the world that we can do what we promise as the ICO cash will be spent on developing the business in other areas. We’ll need to invest in outreach programmes to bring games developers on board, increase our number of developer staff to review code from all independent partners that wish to publish their games, expand our compliance team, as well as marketing the games on our platform to both content providers and players. Last but not least, we will be educating players about the benefits of playing with JoyToken. We want to do this quickly and the cash injection from the ICO should accommodate this.

  • How does JoyToken differ from similar services? How can your innovative service assist the gaming industry?

We’re bringing a totally new approach to the eGaming space. We’re passionate about games and our players, and as such we’re hoping our independent development community will create exciting and innovative content. We believe that the current obstacles that inhibit developers have strangled innovation as small players cannot bring their games to market without extreme costs and be having to do a lot of ‘leg work’ to get the game published by content providers. This is why most of the content on casinos looks similar and is created by a handful of large firms. In terms of the player, aside from great games content, we’re using the blockchain technology to ensure full transparency with the player. Every wager is logged in a smart contract and is fully auditable by any user should they wish to. This creates a robust system where trust and faith in the system and outcomes are completely unnecessary. Ultimately, we’re about empowerment, fun, and transparency.

  • How do you see the future of gaming industry? How can JoyToken be part of it?

Every so often industries has revolutions. Look at what’s going on with cars – for decades it’s all about the internal combustion engine, now the focus is on an electric future. Okay, so the online gaming space is comparatively new, but realistically the games and content are age-old and can be traced back to mid-20th-century ideas in land-based casinos – in any case, it’s all about reputation, faith, and trust in all transactions. Although we acknowledge that the existing system has served the industry well, we believe that it’s time for a change… time for our revolution. We’re bringing down barriers to allow innovation and we’re including an API to ensure all wagers are logged with full transparency. The gaming industry knows change is coming, but it’s reluctant to embrace the new and often the large firms have so much red-tape that they’ll take time to get up to date. JoyToken is nimble, dynamic and focussed on this change – we’re bringing tomorrow’s technology to the sector today. We believe that by the time other entities in the eGaming space catch up, we’ll have carved out a new sector in the market. We are already in discussions regarding partnerships for our content, so keep an eye on us – we’re coming!


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  • Why do you need Token Sale?

The token sale will be instrumental in allowing us to have more resource to ensure we get the product up and running as quick as possible. We don’t have the resources of the larger content providers and games vendors, but we do have the technology. We will be investing heavily in people required to grow this business at an exponential rate: Marketing, Sales, Developers, Legal to name only a few key areas that are essential for this growth.

  • What are your plans after ending of Token Sale?

The sale is just the beginning. Following the sale, we see 2018 as an exciting year for us. We’ve got our API ready and we’re working on the user interfaces – this will be a key development as it’s player facing. We’ll be reaching out to independent developers and building our community to generate content for our platform. We will be launching our games in partnership with our sister company’s online casino and will be forging further partnerships with e-gaming providers and solutions to ensure a broad reach with our content.

South Korea U-Turn – The Cryptocurrency Winners

Following news hitting the cryptocurrency markets on Thursday morning of the South Korean government looking to ban cryptocurrency trading and shut down the exchanges, the cryptomarket went into sell-off mode.

The market response was somewhat surprising when considering the implications, South Korean cryptocurrency holders needing to sell their coins in a worse-case scenario or at best, deal with the uncertainty of a possible clamp down on being able to trade on exchanges beyond South Korea’s borders a major issue.

Bitcoin slumped to a low of $12,000 in the early part of the day on Thursday, which was not far off Thursday’s $13,057.48 close.

There’s likely to be some debate over the government’s handling of the situation, with the government distancing itself from the Ministry of Justice that had released the statement on introducing legislation to bring to an end cryptocurrency trading.

Interestingly, there had been reports of a petition being signed calling for the resignation of the head of the Ministry of Justice in response to its statement. Whether the Ministry of Strategy and Finance flinched at the prospect of voter backlash will never be known, but one thing comes to light from the events of yesterday and this morning.

While governments and central banks will have some influence on the availability and performance of cryptocurrencies, voters will certainly make their voice heard. South Koreans have been known to hit the streets in protest and a backlash over such a ban would have certainly been an embarrassing one for the government, particularly when considering the size of the cryptomarkets today.

Through early part of the day today, the recovery has not been as spectacular for Bitcoin as for some of the other cryptocurrencies on offer. The less than impressive gains this morning will likely be down to two key reasons:

  • Bitcoin trading volumes are less concentrated than other cryptocurrencies, with the threat of a South Korean ban on trading and the shutting down of exchanges in South Korea having less of an impact on Bitcoin demand and therefore price.
  • Investors will have gone elsewhere in the early part of today in search of the more sensitive cryptocurrencies, which would have been a simple task. The cryptocurrencies that tanked the most on the South Korean news would have also most likely seen the biggest upside in the event of a U-turn, which would have also eased appetite for Bitcoin and the Bitcoin clan.

Bitcoin has gained just 3.32% to $13,683.1 at the time of writing and, as has been the case since mid-December, the Futures market may well be to blame, with the January Cboe Bitcoin futures contract rising by just $360 to $13,680 at the time of writing.

It will be interesting to see how Bitcoin moves through the weekend, once the futures markets are closed, with Bitcoin currently sitting well below the start of the week $16,300 high.

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So, looking through the cryptomarket this morning, there have been some impressive returns for investors dipping their toes back into the market.

At the top end of the market cap table, Ripple has rallied 6.86% to 2.066 at the time of writing, recovering from a Thursday $1.514 low.

Going down the table, Stellar’s Lumen has been far more impressive, surging 21.6% through the early part of the day, with NXT and Binance’s BNB also impressing, with gains of 13.6% and 10.51% respectively.

While there have been some impressive gains, particularly amongst the more recently launched coins, a little more damage has been done to the cryptomarket and its image, with the fact that governments and central banks are able to have such an influence on the broader market being of particular concern.

Time will tell whether Bitcoin investors will regain the confidence to drive Bitcoin back towards $20,000, with the recent trends certainly suggesting that forecasts of $40,000 by the end of the year may have been a little too optimistic.

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RepuX Launches a Sharing Ethereum-Backed Data Platform

A company currently in its pre-sale Token sale is RepuX. RepuX is taking a variety of decentralized blockchain technologies, including Ethereum, to deliver a protocol that enables data producers to increase earnings from their data output by streamlining the circulation process, targeting small to medium-sized business.

The RepuX platform will allow business to sell anonymised data and earn RepuX tokens, with the platform already live and usable and not just a white paper.

When considering the amount of data that sits in electronic storage and unused, the very fact that the data can now be uploaded and shared on the RepuX platform means that smaller sized companies will be able to share their works in the RepuX marketplace, without having to go out into the real world and try to find interested parties, with the global nature of RepuX bringing down cross-border issues faced by many companies.

On the other side of the coin, small and medium-sized companies will also have access to much-needed data to progress and streamline existing and up and coming projects in order to increase the probability of success, without having to hire the world’s leading developers, which the smaller companies are certainly unable to afford. Such a marketplace levels the playing field, with David able to fight more successfully against Goliath for market share.

The RepuX token pre-sale started on 17th November 2017 and is scheduled to end on 5th March 2018, with the token sale starting on 6th March and ending on 5th April 2018.

40% of proceeds from the RPX token sale will be used to cover development costs, 25% for marketing, 20% for partnerships and 15% for operations, with a total supply of 500,000,000 RepuX tokens at an estimated price of 1 RepuX to US$0.20, with prices, discounted on a rising scale from a 50% presale discount to a 10% discount on 2nd March.

Interested parties can access more information from the RepuX website.

South Korea Sinks the Cryptomarket

It’s been a rough ride for the cryptocurrencies at the turn of the year and it looks like it’s going to get a little tougher before there is any improvement in market conditions.

The major cryptocurrencies have seen heavy selling pressure through the morning and it’s all been down to the South Korean government, which has continued to plague the cryptocurrencies since the end of last year.

Going back to the rallies across the cryptocurrencies in December, much of the gains were attributed to the increased trading activity in South Korea. Both Ripple and Litecoin were beneficiaries, with the pair managing to break through to record high levels through much of the 2nd half of December.

Things have shifted at the turn of the year however and it’s come down to regulatory risk. If investors were of the view that the cryptomarkets were free and clear of government and central bank oversight, they have been clearly mistaken and, while certain governments have been embracing, others have not.

The market is in its infancy and there is no common ground amongst the G7 or G20 on how to handle cryptocurrencies, so it’s each to their own and the South Korean government is certainly not aligned with the Japanese government, when it comes to Asia.

Concerns over cyber-theft may well be the government’s motivation, with frequent reports of the North Korean government steeling cryptocurrencies a major concern, as the North looks to build its nuclear capabilities and ruffle the feathers of the South and the West.


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Looking at current valuations, there will be a temptation for investors to jump in and take advantage of the recent declines, with Bitcoin down at sub-$14,000 and Ripple sitting at $1.6476. The argument could be that if things were really that bad then Ethereum would have also followed up with a sizeable loss. The difference here is that Ethereum’s gains didn’t come in mid to late December, of the back of rising demand from South Korea. Ethereum’s gains came in spite of the initial reports of the South Korean government looking to clamp down on the cryptomarkets, which makes Ethereum less sensitive to the news.

How the cryptos will fare through the remainder of the day remains to be seen, but with Cboe Bitcoin futures down at $13,740 for January expiry and with Bitcoin currently down 7.09% to $13,835, there’s not much wriggle room for the crypto and the other majors to look to move ahead on.

We are unlikely to get any comments from the South Korean government that could shift sentiment through the rest of the day, with the raiding of exchanges and investigations into South Korean banks, not to mention the Justice Department’s intentions to introduce legislation to ban the trading of cryptocurrencies all quite dire for the markets.

Unless there is a U-turn, things are likely to go from bad to worse until the exchanges find a way to circumvent the system and provide the platforms in other jurisdictions, away from the purview of the South Korean government.

It’s testing times and investors will be hoping that the anti-cryptocurrency movement does not spread to other major crypto-centres. While there is no news of such a scenario, as we have seen with the South Korean government, the decision can be spontaneous and that’s never good for a market.

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Game Changer: Kodak Plans to Launch KodakCoin Cryptocurrency on ICO

To-date, initial coin offerings have been launched by start-ups looking to develop blockchain technology to upgrade archaic processes in the interest of both businesses and consumers, whilst looking for a decentralized platform and a digital currency that sits away from the purview of governments and banks.

The world of photography is a maze when it comes to the licensing and registration of works and its KODAKOne’s intention to revamp the market and provide photographers with a piece of the pie, by providing a platform for photographers to, not only register and license new and archived works on the platform, but also receive payment for the licensing of works and have a platform for the sale of works that has certainly been restrictive to the growth of the industry in recent years.

KODAKOne platform will also the identify unlicensed use of images, ensuring that such images enter into the licensing process in order to reward the relevant photographers.

KODAKCoin will be the cryptocurrency and will be the payment method for agencies and photographers to buy and sell works stored on KODAKOne’s ledger and to make the fee payments in the licensing and registration process.

KODAK announced the partnership with WENN Digital and the planned Initial Coin Offering on 9th January 2018. Eastman KODAK Co’s share price surged 119.36% to $6.80 on the New York Stock Exchange upon Kodak’s announcement, with the returns more akin to a cryptocurrency move than that of a long-established stock listed on a long established stock exchange.

At the time of writing, the share price is up another 70% in the pre-market open, with the continued rally a clear indication of just how well the markets and investors have received the news and how well the KODAKOne ICO will likely perform at the end of January. While the KODAKOne platform will provide existing agencies and professional photographers with a platform to manage the licensing and registration of new and archived photography, the platform will also bring the market the amateur photographers and up-and-coming photographers looking to showcase their work in a bid to make a living from photography.


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Payments will be made with KODAKCoins, replacing the use of fiat currency, which will make KODAKOne’s cryptocurrency the photographic community’s monetary unit of the future, taking the industry into the digital world, quite apt considering the fact that photography had transitioned to digital format many years ago.

With KODAK’s entry into the crypto world gripping the financial markets by storm, the planned Telegram ICO in March of this year is also another one for investors to look out for, with the ICO expected to be the largest ever. There is a distinct difference between the intentions of the two companies, however, with KODAK looking to revamp the photography industry, while Telegram is looking to deliver a decentralized global payment system, taking advantage of it’s more than 180m existing Telegram app users.

KODAK will certainly be the oldest company to-date to launch develop its own ICO, with Eastman KODAK established back in 1888. The announcement will likely lead to a domino effect and stock market investors may also begin to speculate on which companies will be next to announce blockchain tech that could deliver similar gains to those enjoyed by Eastman KODAK this week.