Ethereum Developer Virgil Griffith Has Been Released From Jail Pending Trial

Ethereum Developer Virgil Griffith Has Been Released From Jail Pending Trial

According to Friday’s complaint, Griffith asked for – and was denied – permission to travel to North Korea in order to give the presentation, titled “Blockchain and Peace.” Moreover, the complaint said, Griffith subsequently “began formulating plans to facilitate the exchange of Cryptocurrency-1 between the DPRK and South Korea,” despite knowing that this would violate U.S. sanctions against the DPRK.

Monero Implements Hard Fork, Including New ASIC-Resistant Mining Algorithm

Monero Implements Hard Fork, Including New ASIC-Resistant Mining Algorithm

The Monero (XMR) network has been successfully upgraded to RandomX, a new mining algorithm that aims to be ASIC-resistant. On Nov. 30, the Monero community workgroup did a live stream on YouTube in which the upgrade took place at around the 58 minute mark. The new upgrade also introduced proof-of-work (PoW) algorithm, RandomX, which uses random code execution together with memory-focussed techniques to be resistant to application-specific integrated circuits (ASIC) — devices optimized for professional mining operations. The upgrade is also reportedly optimized for general-purpose central processing units (CPU) in order to make the network more decentralized. As a result, those who wish to use graphics processing units (GPU) to mine Monero might find it more difficult to do so. The Monero team believes that ASIC machines have a centralizing effect as there are only a few companies in the world that are able to manufacture them. However, others have claimed the exact opposite. Bran Cohen, best known as author of the peer-to-peer (P2P) BitTorrent protocol, recently said that ASIC-resistant PoW is both a pipe dream and a bad idea. Cohen added that it is a much better idea to be ASIC-friendly, because “ASIC resistance just creates more centralization around manufacture when it inevitably fails.” Ethereum co-founder Vitalik Buterin echoed similar sentiments when he said that there is a growing consensus that ASIC-resistant algorithms have a limited lifespan and ASIC resistance ultimately makes 51% attacks cheaper. Crypto exchanges delist Monero due to money laundering concerns Poland-based cryptocurrency exchange BitBay announced in November that it will delist the privacy-centric cryptocurrency Monero on Feb. 19, 2020 due to money laundering concerns. The exchange explained: “Monero (XMR) can selectively utilize anonymity features among projects. This feature of XMR is a subject to end of transaction support. The decision was made to block the possibility of money laundering and inflow from external networks.” In September, major cryptocurrency exchange OKEx also delisted Monero and a slew of other privacy-oriented coins including Dash (DASH), and Zcash (ZEC), among others.

Binance’s CZ: This Vibrant Country Is One of the Fastest-Growing Crypto Nations

Binance’s CZ: This Vibrant Country Is One of the Fastest-Growing Crypto Nations

At a recent B2B event in Turkey, suit-clad men and women from traditional financial institutions and the public sector stood in line to take a selfie with a guy in a hoodie. That guy, Binance CEO Changpeng “CZ” Zhao, found time to attend the annual Turkish Capital Markets Summit in Istanbul, Turkey on Nov. 19. Between his speech at BlockShow Asia 2019 and the controversy over alleged false reporting, it’s been a busy month for CZ. After his fireside chat on stage, where he praised Turkey as one of the fastest-growing countries in crypto and officially announced that Binance is now supporting the Turkish Lira, CZ answered a couple of questions from Cointelegraph. Cointelegraph: What’s your plan for Turkey? Why now? CZ: Our goal is to serve the best interest of our Turkish community and responding to their demands. We are working to develop more services to our Turkish community and will soon. Turkish community showed a high degree of understanding of blockchain. There is a high degree of enthusiasm. Binance is now a fiat to crypto exchange. Today we have a TRY onramp to Binance.com with the help of our local partner, Papara. Other crypto exchanges, such as Huobi, promote their solid plans for compliance when entering Turkey. Do you have any? Have you ever spoken to a local regulator? CZ: We take regulatory compliance very seriously. Working with governments is key to building a sustainable industry and promoting greater adoption. We are always working with local regulators in our development efforts. Your local partnership with Papara, a digital wallet for local users, is step one. Turkish users can now buy crypto BTC, ETH and XRP directly from Binance with their Papara digital wallets. What is step two for Binance in Turkey? CZ: Very soon we will add direct Turkish Lira Bank Transfer to Binance. We will also add Turkish lira Pairs on binance.com. Other than that we really want to invest in Turkey heavily We also want to increase our team members somewhere between 10-20 people in the next 3 to 6 months. And if you’re looking for a job in the cryptocurrency industry please hi to us. Do you have any local partnerships in roadmap, maybe with a bank or local exchange?…

Bitcoin Price Shifts Toward Key Moving Average as Bears Target $5,000

Bitcoin Price Shifts Toward Key Moving Average as Bears Target $5,000

As part of its current mid-term downtrend, Bitcoin (BTC) could be headed toward its 200-week moving average (MA), a level that has been a major historical bottom.  Since hitting its 2019 high of approximately $13,890, Bitcoin has seen lower highs indicative of a downward trend, at least in the mid-term.  After a corrective bounce up to $7,875 last week, Bitcoin was unable to shake its larger downtrend, heading back down to $7,285 by press time. The asset could ultimately have its sights set near $5,000 before a mid-term trend reversal as its charts look mostly bearish at present.  Crypto market daily performance. Source: Coin360 Bitcoin weekly chart BTC USD weekly chart. Source: TradingView Bitcoin’s weekly chart painted a wick that tested support near $6,550 last week, hitting just below a downside wick from May 2019. Below $6,550, the coin lacks weekly support and notable price action until $5,760.  Back in April, Bitcoin’s price tallied significant price action between $5,760 and $4,890, indicating a zone of future support. This area of support also coincides with the digital asset’s 200-week moving average near $4,990.  The 200-week MA has been a major level of support in Bitcoin’s history, serving as the bottom of the asset’s last major bear market in 2018 and early 2019.  Since 2014, Bitcoin has bounced off its 200-week MA several times, never decisively closing below it and holding it as trend resistance, according to Brave New Coin’s Bitcoin Liquid Index (BLX) chart data. Bitcoin daily chart BTC USD daily chart. Source: TradingView Bitcoin’s daily chart shows a fair bit of bearishness. Last week’s move up past $7,800 looks to be a bullish correction amid an overall bearish trend. Unless BTC posts a decisive higher swing high past $7,880, the price may look to break down further, below $6,500.  If the range low near $6,540 is broken with force, the lack of support mentioned on the weekly time frame could lead the asset down below $6,000. Additionally, Bitcoin’s daily Ichimoku Cloud is red, indicating a bearish future while the Tenkan (blue line) is below the Kijun (red line), which is also bearish.  The asset is also quite far below its 200-day MA near $9,415, which is often seen as a benchmark for bullish or bearish…

Waves DEX Shuts Down and Relaunches as Hybrid Cryptocurrency Exchange

Waves DEX Shuts Down and Relaunches as Hybrid Cryptocurrency Exchange

Decentralized exchange (DEX) Waves DEX shut down to resume operations as a hybrid exchange, Waves announced in a press release shared with Cointelegraph on Dec. 2. Per the release, the exchange has already ceased operations on the old domain and the process of moving its activities to Waves.Exchange has already started. The company announced: “From this point onwards, the old version of the exchange will be unavailable, and the website will offer only functionality to support migration. User funds held on Waves DEX will remain completely safe during and after the process.” The hybrid exchange was already partially activated before the migration began earlier today and it expects to become fully operational before tomorrow. The company claims that the new trading platform combines the irreversibility of transactions, safety and user control of funds of decentralized exchanges with the features of centralized trading platforms. Changes in exchange development Waves also announced that from now on, its main development team will focus on developing the protocol itself, its open and private implementation, sharding and infrastructure. The development and support of the exchange, on the other hand, will now be managed by a separate, dedicated team which will also include former Waves core team members. Waves founder and CEO Sasha Ivanov commented: “Waves DEX was a kind of prototype. Now, after 2 years  of operation, it has grown and become a separate project. […] Now it’s time for us to focus on protocol development and hand over the exchange to an  external team and community separate from Waves, so we can merge all the infrastructure teams into one, synchronizing development work and taking the combined product to a new level.” The announcement also promises that future plans include partner and market maker programs and that Tether (USDT) trading will be enabled when the gateway goes live later this month. Lastly, the announcement also promises “new tools for users to generate passive income, including the opportunity to stake stablecoins and collect interest with very low risk.” One of Waves’s competitors, CryptoBridge, announced its shutdown earlier today, citing market conditions and increased regulations as driving factors for its closure. The exchange will completely shutter operations on Dec.15, just two months after introducing Know Your Customer standards mandated under EU law.

OneCoin Website Goes Offline as Net Closes in on $4B Ponzi Scheme

OneCoin Website Goes Offline as Net Closes in on $4B Ponzi Scheme

The website for cryptocurrency Ponzi scheme OneCoin has finally ceased operating, months after United States authorities indicted one of its founders for fraud. As MLM scam monitoring resource BehindMLM.com noted on Dec. 1, OneCoin.eu no longer returned a live result as of Nov. 30.  “Legal investigation” offlines OneCoin.eu Upon investigation, a representative from EurID, the domain’s registry, confirmed to the publication that the website was offline due to the criminal proceedings against OneCoin. “The domain name is under legal investigation. Please further check our WHOIS for the status of the domain name,” a written response reads. The event marks the latest in a series of revelations in the takedown of OneCoin, which operated for years and defrauded investors of around $4 billion.  As Cointelegraph reported, the legal case last month closed in on a lawyer associated with co-founder Ruja Ignatova, who prosecutors claim is responsible for helping her launder proceeds worth $400 million. Scams remain Bitcoin buzzword OneCoin first attracted suspicion as far back as 2015, when Cointelegraph released an expose on the back of research from BehindMLM.  In the ensuing years, successive governments worldwide issued warnings about the scheme’s operations, which promised huge returns for comparatively tiny investments. Ignatova is currently on the run, while her brother, fellow co-founder Konstantin Igantov, recently pled guilty to charges including money laundering and fraud, and faces up to 90 years in prison. Controversy continues to swell around another cryptocurrency project this month. The creator of altcoin HEX, Richard Hart, attracted widespread accusations of foul play after making various promises including free tokens to Bitcoin (BTC) holders. HEX describes itself as “the first high interest paying Blockchain.”

Bitcoin Price: Cracking $7.4K Opens Path to $8.1K Resistance — Analyst

Bitcoin Price: Cracking $7.4K Opens Path to $8.1K Resistance — Analyst

Bitcoin (BTC) stayed rangebound on Dec. 2 after a descent from near $8,000 over the weekend failed to crack the $7,000 support. Cryptocurrency market daily overview. Source: Coin360 Bitcoin volatility lessens but $7.5K evades traders Data from Coin360 showed the largest cryptocurrency trading in a narrower $300 corridor as the week began, with 24-hour performance bottoming out at around $7,180. At the top of the range, BTC/USD nonetheless failed to retake $7,500, at press time fluctuating around $7,300. Bitcoin seven-day price chart. Source: Coin360 The reduction in volatility soothed analysts, who were able to predict potential short-term moves for Bitcoin with a greater degree of certainty on Monday. For regular Cointelegraph contributor Michaël van de Poppe, upside potential now focused on breaking $7,400, which could then form a gateway to higher resistance at $8,100. Highlighting the current price point on a fresh chart on Monday, he added that a failure to maintain it would result in only a modest downturn. “If we can’t hold this purple zone around $7,250, I’m going to aim for $6,900 retest,” he wrote in accompanying comments. Previously, van de Poppe had highlighted the fact that overall, the danger for traders were not over; markets could still continue selling pressure to send Bitcoin lower. On the day, many were also waiting for BTC/USD to continue traditional behavior and fill a “gap” in Bitcoin futures trading prices. A futures gap refers to the difference between when one Bitcoin futures trading session ends and another begins. On Friday, CME Group’s monthly futures settled $315 higher than the point at which they opened on Monday. The historically accurate trend thus calls for Bitcoin to hit an area around between $7,465 and $7,800. Altcoins fall in line as Bitcoin calms Altcoin markets meanwhile broadly reflected Bitcoin’s flatter performance at the start of the week. Ether (ETH), the largest altcoin by market cap, traded 1.6% lower at press time, just failing to preserve already weak support at $150. Ether seven-day price chart. Source: Coin360 Other cryptocurrencies delivered similar moves, with EOS (EOS) ad Litecoin (LTC) noticeably worsening their positions, losing 3.4% and 4.41%, respectively. The overall cryptocurrency market cap was $199.3 billion, with Bitcoin’s share at 66.5% — 0.1% lower than the day before. Keep track…

Huobi Says It’s Joining a Chinese Government-Led Blockchain Alliance

Huobi Says It’s Joining a Chinese Government-Led Blockchain Alliance

Led by State Information Center (SIC), a think tank affiliated with the National Development and Research Commision, China’s highest central planning agency, the network is planning to offer infrastructure services for any Chinese or international entity that uses blockchain. 

Price Analysis 02/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

Price Analysis 02/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

Bitcoin price continues to trade with an advantage to bears but this does not mean investors or miners have capitulated. About 64% of the total Bitcoin mined to date has been dormant in wallets since 2018. This shows that Bitcoin hodlers do not believe in trading for short-term gains, as they anticipate much higher prices in the future. While this might be a feasible strategy for the whales, retail traders can rake up profits if they buy during periods of deep distress and sell their positions during times of euphoria. One of the events that many hopeful investors are anticipating is Bitcoin’s block reward halving in May 2020. However, Jason Williams, co-founder at digital asset fund Morgan Creek Digital, believes that the halving will be a non-event that will not affect the price of Bitcoin. While a few analysts share Williams’ view, others believe that history will repeat itself and the price of Bitcoin will surge as the halving occurs. Daily cryptocurrency market performance. Source: Coin360 The crypto market is driven by more than just fundamentals and technical analysts currently have a variety of views and opinions about the market. DeMark Analytics CEO Tom DeMark, recently told Bloomberg that he expects Bitcoin to continue its fall with a minimum target objective of $6,308 and if panic sets in, the decline can extend to $5,294. On the other hand, popular Twitter analyst PlanB has said that Bitcoin might rally to $10,000 in before the end of December. These differences show that every analyst has a unique style of analyzing the markets. Therefore, traders should do their own due diligence before initiating any positions. Let’s see if we spot any buy setups today? BTC/USD Bitcoin (BTC) has turned down from the 20-day EMA, which suggests that sellers are active at resistance levels. The bears will now try to sink and sustain the price below the support at $7,337.78. If successful, a drop to $6,840.75 and below it to $6,512.01 is likely. The downsloping 20-day EMA and the RSI in the negative zone suggest that bears have the upper hand. BTC USD daily chart. Source: Tradingview However, the pace of decline from the 20-day EMA has been gradual. This shows that the selling pressure is weakening. If the…