Overstock’s tZERO to Trade Tokens During Wall Street Hours Only

Overstock’s tZERO to Trade Tokens During Wall Street Hours Only

Overstock’s newly launched security token exchange tZERO is live, but it’s still a work in progress. That platform launched in the late afternoon on Thursday, allowing investors to trade their tZERO tokens. The first trade saw 10 tokens bought at a price of $8 apiece, according to the users in tZERO’s Telegram group. That $8 price is lower than it was during tZERO’s security token offering, or STO, when tokens were available for $10 each. However, participants of the pre-sale could buy them at prices between $5 and $8. Orders at tZERO cannot be viewed by anyone other than approved users, and those with such approvals can see bids and asks as well as post their own. In an interview, CEO Saum Noursalehi detailed the first hours of tZERO’s operations, the current issues with which the exchange operator is facing, and how it sees the tokenization of securities as a driver of future revenue. For example – in what might be a sign of the platform’s position between mainstream Wall Street finance and the more open, experimental market embodied by the cryptocurrency space – tZERO will, at first, operate during normal market hours between 9:30 a.m. and 4 p.m. EST. It’s during that period that the broker-dealer Dinosaur operates, Noursalehi explained. He told CoinDesk: “Our approach has been incremental: getting some benefits of blockchain but not going full-blown, and this is also something that made the regulations comfortable with letting us move forward. Initially we did it to kind of mimic the market, but Dino is our broker-dealer at this point and we wanted to make sure there is support available for investors during the broker’s business hours.” However, the technology allows tZERO to enable trading 24/7, and Noursalehi explained that this approach is a major goal. He also acknowledged that the launch itself wasn’t spared from technical issues, as some users complained about account confirmations and days-long wire transfers. “There are always little tech issues around a big launch, but they have actually been very minimal,” Noursalehi said, noting that tZERO has been trying to speed up the process. “For example, during the AML/KYC checks we had a lot of rules in place, so there were too many applications going through the manual review,” he went on…

Cryptos Would Only Have Value in ‘Dystopian’ Economy: JPMorgan

Cryptos Would Only Have Value in ‘Dystopian’ Economy: JPMorgan

Investment bank JPMorgan Chase has said that cryptocurrencies would only have value in a dystopian economy. In a recent note to its clients, the firm said that it was skeptical of the value of cryptocurrencies apart from in a “dystopia” where investors have lost confidence in “all major reserve assets (dollar, euro, yen, gold) and in the payments system,” according to a report from Business Insider on Monday. The banking giant further said that, though cryptocurrencies have a low correlation to traditional asset classes such as shares and bonds, they are not the best bet for diversification. “Low correlations have little value if the hedge asset itself is in a bear market.” JPMorgan also reportedly said earlier this week that, with prices so low, bitcoin is worth less than the cost to mine it. Bitcoin and the wider crypto market have spent the last year in a bear market. After reaching a record high of about $20,000 in December 2017, bitcoin is down 83 percent and is currently trading at around $3,420. JPMorgan CEO Jamie Dimon is famously anti-crypto. Back in September 2017, he declared bitcoin a “fraud” and said, “It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.” Later in January 2018, Dimon said he regretted calling bitcoin a fraud, yet he remains skeptical on the topic. Most recently, he asked investors to stay alert. “I don’t wanna be the bitcoin spokesman. You know, just beware,” he said. JPMorgan, as an institution, however, believes that cryptocurrencies might one day play a role in the diversification of global equity and bond portfolios, according to a February 2018 research report. JPMorgan image via Shutterstock 

Bitcoin Falls Below $3,500 as Fresh Downturn Hits Cryptocurrency Markets

Bitcoin Falls Below $3,500 as Fresh Downturn Hits Cryptocurrency Markets

Monday, January 28 — Bitcoin (BTC) lost 3 percent and altcoins shed up to one tenth of their value as bearish moves returned to cryptocurrency markets. Market visualization from Coin360 Data from Cointelegraph’s price tracker and Coin360 shows a downtrend at the start of the week, with BTC/USD losing support at $3,500. A sudden dip ended what had been a quiet week for the pair, which had remained range bound between $3,500 and $3,670. At press time on Monday, Bitcoin hovered around $3,460, its lowest price since Dec. 16. Bitcoin 4-month price index. Source: Cointelegraph While no single event appeared to trigger the losses, analysts had long called for further downsides for Bitcoin, with Cointelegraph reporting on warnings from veteran forecaster Tone Vays during December’s lows which put put BTC/USD at $1,300. Opinions remain split over Bitcoin’s likely performance in 2019. Mike Kayamori, CEO of cryptocurrency exchange Quoine, produced one of the industry’s more bullish forecasts for this year, claiming it would hit all-time highs above $20,000 before 2020. In altcoin markets, following a common theme of mimicking and then expanding on Bitcoin trends, some assets in the top twenty by market cap fell sharply. Ethereum (ETH) had lost 6.8 percent at press time to trade at $108, while the listings were led by Bitcoin Cash (BCH), which shed 10.8 percent to hit $111. Ethereum 7-day price index. Source: Cointelegraph Bitcoin SV, the hard fork of BCH that traditionally traded inversely with BTC, failed to replicate its previous behavior, falling 9 percent to $66.80 — a two-month low. Arthur Hayes, CEO of trading platform BitMEX, expects a reverse in fortunes for Ethereum as part of a renaissance of the initial coin offering (ICO) market. Once this begins, this year or next, ETH/BTC should return to $200 and higher, he told Cointelegraph.

Don’t Throw the Crypto Tokens Out With the Bathwater

Don’t Throw the Crypto Tokens Out With the Bathwater

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. ___________ A year into the crypto market meltdown, we’ve gone from one extreme to the other. Where investors and commentators were once consumed with the naïve belief that ICO-funded startups would quickly usher in a new token-driven decentralized economy and unlock untold wealth, we’re now at a point where any idea associated with tokens, good or bad, struggles for legitimacy and money. It’s time to find the middle ground. Token-economics is not some hocus-pocus concept. That bitcoin and ethereum’s incentive systems have sustained viable, decentralized communities exchanging value and building products is proof of that. But to assume people will quickly adopt similar models across all sorts of mainstream industries when their livelihoods currently depend upon incumbent centralized systems is also dangerously misplaced. It would be a crying shame if we threw out token economics altogether. From the widespread mistrust in online media data to the fact that electric utilities obstruct the creation of independent solar microgrids, there is much wrong with the world that could potentially be overcome if digital asset systems enabled communities to enter into exchange without having to trust intermediaries. Choose Wisely The challenge is twofold: figuring out which models are most viable as a starting point and how to most effectively bring them to market. I, for one, believe industries in which the traded product is already a fully formed item of digital value – such as online media, entertainment or gaming – are a logical place to start. But at the same time, token solutions for these or any industries cannot be simply introduced with a build-and-they-will come mindset. The struggles that Civil faced in introducing a complex, token-based reward system for decentralized journalism suggest that a gradual, transition-based model is needed rather than a bold vision to change the system in one fell swoop with a solution that ordinary people struggle to understand. Many projects would do best to build a market that first makes old-fashioned fiat money, but with a clear, fully signaled game plan to later introduce…

Report: Indian Government Finalizing Crypto Regulatory Framework

Report: Indian Government Finalizing Crypto Regulatory Framework

Regulation The Indian government has reportedly confirmed that the report containing a regulatory framework for cryptocurrencies by an inter-ministerial committee is being finalized. This confirmation is in response to a Right to Information filing by a local news outlet. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Report in ‘Finalization Stage’ Subhash Chandra GargThe Indian government has been working on crypto regulation for quite some time. The Inter-Ministerial Committee (IMC) headed by Subhash Chandra Garg, Secretary of the Department of Economic Affairs, is tasked with developing the country’s crypto regulatory framework. On Friday, local news outlet Coin Crunch India wrote that this report is in the “finalization stage.” The publication filed a Right to Information (RTI) request with the Department of Economic Affairs on Dec. 13 last year asking three questions. The first inquires whether the panel has submitted its report to the Ministry of Finance. The second asks if the panel has recommended a ban on bitcoin. Lastly, the publication asked point-blank, “We would like to receive a copy of the report. Can we?” The Indian government finally replied to the RTI on Friday with only a brief statement: The report of the committee is under finalization stage, hence, prohibited under section 8(3) of RTI Act, 2005. The news outlet acknowledged that “Section 8 of the RTI act allows an entity to withhold the data in certain circumstances.” What the Long-Awaited Report Should Contain India’s Ministry of Finance explained to Lok Sabha, the country’s lower house of parliament, in December last year that the committee’s task is “to study all aspects of cryptocurrencies and crypto-assets including bitcoin,” adding that “The committee … is working to develop a framework for regulating cryptocurrencies.” Garg previously said that his committee’s draft report would be ready in July last year. However, it had reportedly been delayed. In November, Quartz India wrote that this draft report was expected to be placed before the IMC by December and circulated to IMC members at their next meetings in December and January. Conflicting News of Indian Crypto Regulation There have been several conflicting reports regarding the recommendations by Garg’s committee. Cnbc Tv18 reported in early December last year, citing anonymous sources, that the committee had recommended treating cryptocurrencies as illegal. In contrast, the New…

Markets Update: Consolidation Continues as Traders Wait for a Breakout

Markets Update: Consolidation Continues as Traders Wait for a Breakout

Market Updates On Sunday, Jan. 27, a vast majority of cryptocurrency markets have seen sideways consolidation as prices have been following a narrow range for over a week. A few major digital asset markets have seen decent gains this week, but most crypto prices remain tight as traders await a strong breakout. Also read: Bloq Labs Reveals Software Suite That Aims to Increase Hash Power by Double Digits That Narrow Range At the time of publication, the entire cryptocurrency economy is valued at $118.6 billion. Since our last markets update, the entire market cap has shaved a few billion and daily trade volume worldwide has decreased a hair. This Sunday’s trade volume for all 2,000+ digital assets is around $16.4 billion. The leading cryptocurrency by market capitalization, bitcoin core (BTC), is currently trading for $3,581. BTC’s market cap captures $62.6 billion right now and global trade volume is roughly $5.5 billion. Ripple (XRP) holds the second position as each token is being swapped for $0.30 and the coin has a market valuation of $12.7 billion – officially, at least. Top 10 cryptocurrencies on Jan. 27, 2019.Below ripple is ethereum (ETH), which is trading for $113 per coin and has a $11.8 billion market cap. Out of the top five market caps, ETH’s 4% weekly loss is the deepest cut of them all. Lastly eos (EOS) is trading for $2.39 per coin and holds the fifth largest market valuation this weekend. One notable mention is the cryptocurrency tron, which has jumped to seventh position and gained more than 25% over the last seven days. Bitcoin Cash (BCH) Market Action Moving on to bitcoin cash (BCH) markets and the currency is being traded for $123 at the time of writing. BCH markets are down 2.8% today and have an overall market valuation of around $2.17 billion. The top exchanges this Sunday swapping the most bitcoin cash are Lbank, P2pb2b, Fcoin, Hitbtc, and Binance. Ethereum trades are dominating BCH swaps today as ETH captures 53% of all trades over the last 24 hours. This is followed by USDT (24.8%), BTC (12.2%), KRW (3.5%), and USD (3.4%) with JPY and EUR trailing not too far behind. It’s worth noting the South Korean won has captured a lot more BCH volume in recent…

8 Food Delivery Sites That Accept Cryptocurrency

8 Food Delivery Sites That Accept Cryptocurrency

Featured Purchasing goods and services online with cryptocurrency is becoming increasingly popular. A growing number of takeaway platforms around the world are ready to accept your digital cash in exchange for a tasty meal, be it a pizza, burger or vegan dish. Also read: 8 Crypto Debit Cards You Can Use Around the World Right Now Get Pizza for Bitcoin With pizza being among the first items purchased with bitcoin, it only seems fitting that we should start with a pizza delivery portal that accepts cryptocurrency. Pizzaforcoins is a service based in California where you can order from major chains such as Domino’s, Pizza Hut or Papa John’s. Enter your address and the system will endeavor to find the nearest restaurants in your neighborhood. Then you’ll be prompted to choose a store and select one of two options – have the pizza delivered to your door or pick it up at the location. The platform relays your order to the restaurant, once the payment is received, with available meals priced in BTC. Pizzaforcoins claims it accepts over 50 other cryptocurrencies through an integration with Shapeshift. At the time of writing, however, the Check Address and Checkout functions in the shopping cart were not operating properly. This is likely to be a temporary issue as posts on crypto forums indicate that the website has operated successfully in the past. Order a Dish With Digital Cash Other, more established food ordering services offer bitcoin enthusiasts much larger menus to choose from. Amsterdam-headquartered Takeaway.com accepts cryptocurrency on some of the platforms it owns in Europe. One of them is Germany’s largest food delivery portal, Lieferando, acquired by the Dutch company four years ago. Lieferando.de, which works with more than 11,000 restaurants, added bitcoin core (BTC) to its payment options in 2017, as news.Bitcoin.com reported. Because it uses Bitpay to process crypto transactions, the website now accepts bitcoin cash (BCH) as well. The same applies to its Polish subsidiary, Pyszne.pl, which partners with over 5,000 local restaurants. Germany and Poland are Takeaway.com’s second and third largest market respectively. The company now operates 14 popular food delivery portals. Its other major platforms, including Takeaway’s Swiss edition and its original site in the Netherlands, Thuisbezorgd.nl, accept bitcoin. Shuttle Delivery is a…

Bloq Labs Reveals Software Suite That Aims to Increase Hash Power by Double Digits

Bloq Labs Reveals Software Suite That Aims to Increase Hash Power by Double Digits

Mining The blockchain organization Bloq Labs has introduced a beta version of a new software suite for cryptocurrency miners called Titan. Bloq co-founder Jeff Garzik announced the project at the recent Binance conference in Singapore and claims the protocol can maximize a mining machine’s hashrate by double digits with thoughtful configuration and dynamic adjustment. Also read: An In-Depth Look at the Trezor Model T Hardware Wallet Titan’s Mining Management Software Suite Claims to Increase Hash Power by Double Digits Back in the spring of 2017, the company Bloq introduced a new part of the business called Bloq Labs that aims to support open source projects in the bitcoin and blockchain ecosystem. According to the company’s CEO, Jeff Garzik, Bloq Labs has created a waiting list for miners who want to participate in Titan’s beta testing. The Titan protocol is a software suite dedicated to overseeing cryptocurrency mining infrastructure. If configured correctly, Bloq Labs claims, Titan can increase a mining pool’s hash power “by double digits.” “Titan gets the most out of your machines,” explains the software’s website Titan.io. Titan has started its waiting list for beta trials. According to Titan CEO Ryan Condron, the project has been working in stealth mode for some time now and says the software will make “crypto mining easier, more profitable, and more scalable.” Titan has opened its beta waitlist to the public and at the time of publication, there are 71 registrants so far according to the website counter. The Titan program is free to install but the company will gain profit from advanced hashrate production. Maximize a Mining Rig’s Shelf Life With Titan’s Efficiency Titan can be tethered to an entire mining farm, improve watt extraction, and provide further optimizations like enhancing overclocking through a proficient system of machine learning. The team hopes large mining facilities will be attracted to Titan’s offerings. Additionally, Titan’s software will be able to mine multiple cryptocurrencies with different consensus algorithms. The protocol will maximize the devices’ shelf life and shave operation costs by keeping machines up to speed, the company’s website explains. Titan’s website also notes that less downtime in the mining industry equals more money. Titan CTO Kyle Howlett says “[Titan] is a fully integrated and comprehensive software suite that not only…

Van Eck Associates CEO: Bitcoin Investors Are Moving to Gold

Van Eck Associates CEO: Bitcoin Investors Are Moving to Gold

Jan Van Eck, CEO of Van Eck Associates, suggested that Bitcoin (BTC) investors have moved to gold during an interview with CNBC published on Jan. 26. Van Eck declared that he thinks “that Bitcoin pulled a bit of demand away from gold last year, in 2017.” Afterward, he concluded: “Interestingly, we just polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it’s going the other way.” During the same interview while talking about Bitcoin exchange-traded funds (ETFs), Tim Seymour, founder and chief investment officer of Seymour Asset Management, declared that Bitcoin’s function as a store of value is questionable: “Not only have we lost all liquidity on the underlying [commodity] but truly outside of the existential blockchain argument, it’s been very difficult to argue store of value which is really what we started hearing about. Gold is a store of value and there’s no disputing that.” Van Eck’s firm created what CNBC defined as the most well known gold ETFs, namely the GDX gold miners ETF and the GDXJ junior gold miners ETF. Van Eck declared that those assets “have been acting tremendously well over the last two or three months” before underlining that they seemingly do the opposite of what stock markets do. “In the majority of the days in Q4 when the S&P was down, GDX was up,” he said, before concluding “that decoupling makes me really excited about gold shares as a diversifier.” Furthermore, according to CNBC, the GDX ETF grew by 14 percent in the fourth quarter, which according to the article is its best performance since Q2 2016. Moreover, the GDX is up under 1 percent this year, as the S&P 500 grew 6 percent. As Cointelegraph recently reported, the Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its request for a rule change by the United States Securities and Exchange Commission (SEC). The requested change was meant to permit the listing of the ETF backed by VanEck and financial services company SolidX. At the end of last year, Bitcoin’s (BTC) average daily price change was the lowest value reported in the past nine years, Cointelegraph reported.

Top 5 Crypto Performers Overview: Tron, Litecoin, Binance Coin, Dash, Monero

Top 5 Crypto Performers Overview: Tron, Litecoin, Binance Coin, Dash, Monero

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. Jeff Schumacher, founder of BCG Digital Ventures, told CNBC during a panel discussion in Davos, Switzerland that Bitcoin will go to zero. In another interview with Fox Business, Fundstrat Global Managing Partner Thomas Lee said that Bitcoin can still go to $25,000, which he calls its fair value. Analysts at JPMorgan Chase have predicted that Bitcoin is likely to plunge to $2,400 and eventually further to $1,260. Such differing opinions can confuse new investors who are looking to enter the crypto markets. We believe that traders should focus on the fundamental developments in the crypto space, as well as on the price action on the charts. Cryptocurrencies as an asset class are here to stay. Numerous blockchain projects are securing funding from traditional investors every month, which confirms that those investors are confident in the long-term promise of crypto. Crypto companies are introducing new products to attract institutional investors. Moreover, efforts are in progress to integrate cryptocurrencies into the mainstream economy. It is only a matter of time before the bear market ends and a new bull phase begins. However, this time, we don’t expect a vertical rise as seen in 2017. It will likely be a more gradual movement higher. A few of the top cryptocurrencies are showing signs of bottoming out. Let’s see if any of the top performers of this week qualify as a buy. TRX/USD Tron (TRX) was the best performing cryptocurrency among the largest coins by market cap over the past week. In its weekly report, Tron said that it has over “150 DApps and more than 300 smart contracts.” At the recent niTron Summit, Tron founder and CEO Justin Sun said that he expects the number of decentralized applications (DApps) on the network to surge to 2,000 by the year-end. The TRX/USD pair is showing strength as the bulls are attempting to sustain above the overhead resistance at $0.02815521. As the cryptocurrency has been stuck in this range since mid-August, we believe…