Skrill Now Lets You Swap BTC for BCH

Skrill Now Lets You Swap BTC for BCH

Online payments service Skrill has introduced a new feature allowing users to directly exchange cryptocurrencies. The crypto-to-crypto option gives you the opportunity to use bitcoin core (BTC) stored in your wallet to buy and sell eight other supported cryptocurrencies, including bitcoin cash (BCH). Also read: Pornhub Suggests Crypto Payments After Paypal Censors Model Payouts Buy Crypto With Crypto Skrill, formerly known as Moneybookers, is popular in Europe where it’s used for online payments with 15,000 merchants as well as international money transfers. The U.K.-based e-wallet provider is one of those established payment systems that have opened to decentralized digital currencies in the past couple of years. The company recently tweeted: Buying and selling crypto with Skrill just got even better. Introducing crypto-to-crypto – a new feature that lets you use your bitcoin balance to buy and sell the other 8 cryptocurrencies we offer. Having an in-app coin swap option is a great addition to any payment platform as users can save on fees for additional exchange transactions involving fiat. Bitcoin.com’s own non-custodial wallet lets you exchange between BTC and BCH within the app through an integration with the automated coin swap platform Sideshift. Skrill pleasantly surprised crypto enthusiasts when it introduced the option to buy, hold and sell cryptocurrencies last summer. Its app, available for both Android and iOS devices, lets you purchase crypto with over 100 payment methods and conversion of 40 different fiat currencies into BTC, BCH, EOS, ETH, ETC, LTC, XLM, XRP, and ZRX. The platform, along with another well-known e-money service, Neteller, is part of the London-headquartered Paysafe Group. Its operator, Skrill Limited, is a company registered as a money service business regulated by Britain’s Financial Conduct Authority and licensed to operate within the European Economic Area (EEA). No Additional Verification Required To take advantage of the new service, you need to create an account providing your name, country of residence, local fiat currency, and valid email address. As a regulated entity, Skrill has some security and identity verification procedures in place but its website states that buying cryptocurrency does not involve any additional verification. Certain fees apply to crypto trading operations. There’s a €0.99 fee on crypto purchases and sales up to €19.99, transactions between €20 and €99.99 are charged…

PODCAST: Altcoins and Ancient History With Litecoin’s Charlie Lee

PODCAST: Altcoins and Ancient History With Litecoin’s Charlie Lee

Andreas M. Antonopoulos is a best-selling author, speaker, educator, and one of the world’s foremost bitcoin and open blockchain experts. He is known for delivering electric talks that combine economics, psychology, technology, and game theory with current events, personal anecdotes, and historical precedents effortlessly transliterating the complex issues of blockchain technology out of the abstract and into the real world.

The Jim Bell System

The Jim Bell System

As I write this article on July 3, 2002, I am already hearing out my window the occasional pops of micro-explosives enthusiasts getting a head start on their annual excuse to play with things that go bang and supposedly celebrate their freedom. Tomorrow, libertarians across the country will use the holiday as an opportunity to grouse to disinterested relatives around the barbecue grill about how little freedom we actually have left, or really ever had. LP lifers often say there is no magic bullet to get the kind of society we want, and it will take decades of hard work in the political trenches, and of course, many many donations to the party, before we ever see progress. Conversely, I propose that a nutty guy named Jim Bell has already designed the magic bullet; it just needs to be forged and we will start seeing dramatic positive change immediately. **The following article is an opinion piece written in 2002 by the libertarian author Robert Vroman. This is the first part of the Jim Bell System debate series and the revisited version written by Vroman can be read here. Vroman is well known for his editorial work writing for anti-state.com. ‘The Jim Bell System’ first published on anti-state.com on July 11, 2002, in response to the assassination politics (AP) debate. Bitcoin.com is not responsible for or liable for any opinions, content, accuracy or quality within the Op-ed article.** Since this is a fairly controversial topic, I will start with a psychological self-analysis as a disclaimer. My primary long-term goal is to live forever. I’m convinced that the exponential improvements in medical technology will curve upwards to infinity within the next century. This means surviving the relatively primitive period between then and now is the major stumbling block. As an atheist, I am faced with the conclusion that this is the only life I have. Therefore I have an enormous incentive to minimize risks to my health and well being, just as a Christian has incentive not to sin; we both would be gambling our presumed eternal life, an unacceptable wager. One such risk I will choose to decline is taking up arms against the United States government. Thus the powers that be who may read this…

Despite Bitcoin’s Price Drop, High-Powered Mining Rigs Still Profit

Despite Bitcoin’s Price Drop, High-Powered Mining Rigs Still Profit

Since BTC prices slid below the $8K price range, mining operations have been making less revenue. On Sunday, December 1, only 13 mining rigs with an average electricity cost of $0.12 per kWh are profiting at current prices. Of course, miners from China and other regions pay far less per kWh but older mining rigs currently struggle for profits. Also read: Gocrypto SLP Token Starts Trading on Bitcoin.com Exchange High-Powered Mining Rigs Are Still Profitable at Current Prices, Older Devices Not So Much Mining the SHA256 algorithm is still profitable, no matter which coin you mine, whether it be BTC or BCH. For instance, on Sunday it’s between 0.4-3% more profitable to mine on the Bitcoin Cash blockchain according to Coin Dance statistics. During the last three hours, the BCH hashrate has been around 4.14 exahash per second (EH/s), while the BTC chain has had around 98.03 EH/s. In the last seven days, BTC has averaged around 87.34 EH/s and BCH has seen 2.60 EH/s. The past two weeks’ cryptocurrency markets have seen deep losses while BTC slipped below $8K and BCH hovers around $213 per coin. Current prices make it so only 13 mining rigs are profiting today if they pay $0.12 per kWh. This includes the Bitmain Antminer S17 Pro with 53 terahash per second (TH/s), Bitmain Antminer S17 Pro (50 TH/s model), Innosilicon T3+ (52 TH/s), Bitmain Antminer S17e (64 TH/s), Strongu STU-U8 Pro (60 TH/s), Ebang Ebit E11++ (44 TH/s), and Microbt’s Whatsminer M20S (68 TH/s). SHA256 miner profits on December 1, 2019, at $0.12 per kWh.At current prices, BTC and BCH miners paying only $0.05 per kWh can choose between a variety of 70 profitable devices. At $0.05 per kWh, any mining rig that can process more than 11 TH/s with decent power efficiency can still make money. Much larger profits between $5-10 per day come from high-powered mining rigs that can process more than 40 TH/s with power outputs between 1500W to 6000W off the wall. With electrical costs at $0.05 per kWh or under, the top mining rigs stem from manufacturers like Bitmain, Microbt, Strongu, Innosilicon, and Bitfury. Machines making below $5 per day are manufactured by firms such as Canaan, Ebang, Holic, and average around 20-38 TH/s.…

3 Key Metrics Suggest Bitcoin Price Has Completed Its Macro Bear Cycle

3 Key Metrics Suggest Bitcoin Price Has Completed Its Macro Bear Cycle

Whilst the Bitcoin price (BTC) action may seem bearish to some, the leading digital asset has several bullish indicators that hint towards an imminent recovery. As Bitcoin enters the last month of 2019, will the king of cryptocurrencies finish on a bullish rally, or fall to a yearly low? Daily crypto market performance. Source: Coin360.com The daily chart turns bullish BTC USD daily chart. Source: TradingView Since the beginning of November, the daily chart has been bearish. Multiple attempts were made to break $9,500, but this failed to materialize and what came next was three and a half weeks of pain as Bitcoin plummeted to around $6,500 on Nov. 25. The good news is that Bitcoin seemed to bounce off its new floor and quickly gained over $1,300 from it’s low, changing the trend on the daily chart from bearish to bullish. Using the Bollinger Bands (BB) Indicator, it seems the next milestone to break will be the moving average which currently lies at $8,000. From here Bitcoin will have a shot at the low $9,000 range. Before reaching this conclusion, let’s see if there are any other indicators that share the bullish bias? The MACD also looks bullish on the daily timeframe BTC USD MACD daily chart. Source: TradingView The Moving Average Divergence Convergence (MACD) indicator shows that Bitcoin seems to be on target for a bullish cross when the daily candle closes. This will result in the first green candle to be printed on the MACD histogram, and history shows that this results in a reversal period, how long that period will last is difficult to answer, but it’s a buying signal to traders nonetheless. Fortunately, there is even more good news. CME gap closed high BITCOIN CME futures daily chart. Source: TradingView The Bitcoin CME gap has become quite the tradable event lately, however, in recent weeks, the gap has been below the weekly open but this is not the case this forthcoming week. On Nov.29 the CME market closed at $7,800 and at the time of writing, Bitcoin is currently trading at $7,300. This means that should the CME gap-fill next week, Bitcoin will experience a 7% price increase. Whilst this is not a guaranteed outcome, it has become a very…

$50M of ETH Stolen, ‘Rare Opportunity’ for BTC: Hodler’s Digest, Nov. 25–Dec. 1

$50M of ETH Stolen, ‘Rare Opportunity’ for BTC: Hodler’s Digest, Nov. 25–Dec. 1

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Crypto exchange Upbit confirms theft of 342,000 ETH Another week, another hack — leaving us all with a distinct sense of déjà vu. On Wednesday, the major South Korean crypto exchange Upbit confirmed that a whopping 342,000 Ether (ETH) had been stolen from its hot wallet — funds worth an estimated $50 million at the time of writing. The company stopped short of describing the incident as a hack and said that all remaining crypto assets have since been moved into cold storage. Deposits and withdrawals are going to be suspended for at least two weeks, and Upbit said corporate funds will be used to protect user assets. In recent days, rumors have been swirling that the incident could have been an inside job. Indian government to issue national blockchain strategy Despite taking a hardline stance on crypto, India has announced that it is working on a national blockchain strategy to accelerate the technology’s adoption. Officials believe that blockchain could transform a plethora of sectors, including governance, banking, finance and cybersecurity. Several Indian states have already been drawing up policies relating to blockchain and artificial intelligence, including Tamil Nadu and Telangana. This month, hopes were raised in the crypto community after a controversial bill that proposes a 10-year jail term for those caught dealing in digital currencies was postponed, with lawmakers failing to introduce it during the winter session of parliament. China: Five crypto exchanges halt or shut services amid perceived crackdown It’s been a bad month for Chinese crypto exchanges. In November, at least five platforms have either decided to halt operations temporarily or close up shop altogether. Bitsoda and Akdex brought the shutters down within 24 hours of each other, while Idax announced domestic clients will no longer be able to use its service. Btuex also made moves to suspend services immediately, with the company directly linking this decision to government policy. Biss was the first exchange to fall silent back on Nov. 4 — and since then,…

Swiss Licensed Crypto Bank Expanding Into 9 Markets

Swiss Licensed Crypto Bank Expanding Into 9 Markets

A fully operational crypto-focused bank based in Switzerland is expanding into nine other markets. With a banking and securities dealer license from the Swiss Financial Market Supervisory Authority, its services include crypto custody, trading, and asset management. The bank has launched its investment business including a cryptocurrency index. Also read: Swiss Crypto Bank SEBA Launches With Range of Services International Expansions SEBA Bank AG, formerly SEBA Crypto AG, is a crypto-focused bank headquartered in Zug, Switzerland. The bank recently became fully operational and started onboarding Swiss clients after obtaining a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA). The bank has announced that it is extending service to “clients from selected foreign jurisdictions” in December. A spokesperson for the bank told news.Bitcoin.com that the selected jurisdictions are the U.K., Italy, Germany, France, Austria, Portugal, Netherlands, Singapore, and Hong Kong. SEBA Bank aims to build a bridge between the traditional banking world and the crypto world. Its services include custody storage, trading and liquidity management, asset and wealth management, transaction banking, and tokenization. They are aimed at professional investors, family offices, banks, asset managers, and blockchain companies. The spokesperson further clarified to news.Bitcoin.com that the bank accepts BTC, ETH, ETC, LTC, XLM and NEO for its custody service. As for trading, it accepts BTC, ETH, ETC, LTC, and XLM. Investment Solutions and Crypto Index The bank launched its investment business on Tuesday along with its index for crypto assets called the SEBA Crypto Asset Select Index (SEBAX). The bank has selected MV Index Solutions Gmbh (MVIS) to maintain the index and act as its administrator. Gentwo Digital was also brought on board to implement the specific restructuring requirements of the first investment solution, SEBA noted. SEBA Crypto Asset Select Price Index as of Nov. 28. Source: MVISSEBAX “is a dynamic, risk-optimized index with a broad market exposure of the crypto asset market,” the bank described. Its objective “is to provide an investable index for the most secure, reliable and tradable crypto assets,” MVIS detailed. “The selection of the constituents is monitored on an ongoing basis. The index applies advanced techniques to reduce concentration into single constituents and to deliver enhanced diversification.” SEBAX’s November components. Source: MVISAccording to its fact sheet, the…

Top-5 Cryptos This Week: ATOM, TRX, ADA, EOS, XMR

Top-5 Cryptos This Week: ATOM, TRX, ADA, EOS, XMR

This is the second year in a row that November has turned out to be the worst month for Bitcoin (BTC) of the year. In 2018, Bitcoin’s price had plunged 36.18%. While this year, the decline has been 17.51%. However, December is an important month to watch out for. Since 2015, Bitcoin has moved more than 30% in December. If history were to repeat itself, traders should buckle up for some violent moves in this month. At least five Chinese cryptocurrency exchanges have halted or terminated operations in November. This is the latest crackdown on crypto trading in China since it banned users from buying cryptocurrencies with fiat money back in September 2017. According to data from Chainalysis, the Asia-Pacific region, dominated by China, still has about 20 of the 50 top global crypto exchanges. These exchanges accounted for about 40% of Bitcoin transactions in the first half of the year. Hence, the crypto markets react sharply to any major announcement coming out of China. Crypto market data weekly view. Source: Coin360 While the rise and fall of cryptocurrencies will continue to hog the limelight, we should also keep an eye on the benefits of blockchain technology for society. A study by Juniper Research shows that the food industry will benefit immensely by using blockchain in conjunction with Internet of Things (IoT) sensors and trackers. This move can result in food fraud savings of up to $31 billion within the next five years. Can the crypto markets stage a recovery in the final month of the year? What do the charts of the top performers of the past seven days project? Let’s find out. ATOM/USD Cosmos (ATOM) has seen huge gains in the past seven days with a 19% rally. During the week, the community approved the Cosmos hub 3 upgrade, which is likely to take place on Dec. 11. Can the altcoin continue its rally in the next few days or will it face profit booking? Let’s analyze its chart. ATOM/USD weekly chart. Source: Tradingview The ATOM/USD pair is stuck in a $4.4389 to $1.9101 range. The bulls failed to propel the price above the range a couple of weeks back. However, the subsequent dip below $3 was purchased aggressively that has propelled the…

‘In Small Steps’ China Cuts Benchmark Interest Rates

‘In Small Steps’ China Cuts Benchmark Interest Rates

Careful not to rush too much with stimulus, the Chinese government nevertheless realizes that its behemoth economy is invariably slowing down. New loan interest rate cuts have been announced recently to encourage bank lending and borrowing in the private sector. With a brewing liquidity crisis, however, not all effects might in the end turn out to be desirable. And also, does China have the money? Also read: Another Bank Run Highlights China’s Brewing Financial Crisis Key Loan Rates Lose 5 Basis Points The People’s Bank of China (PBOC) cut a key interest rate last week, part of continuous efforts to shore up the economy. The Chinese central bank lowered the its one-year loan prime rate by just five basis points, true to its strategy to loosen monetary policy in incremental steps. The benchmark rate, state-run lenders were instructed to take as a reference value, went down from October’s 4.20 to the current 4.15%. The five-year prime rate, used to determine rates on new mortgages, also lost five basis points to 4.80%. People’s Bank of ChinaPBOC applied the same five-basis-point step to decrease its one-year medium-term lending facility, at which it provides funds to other banks, to 3.25% as Reuters reported in early November, as well as its seven-day reserve repo used to inject liquidity into the banking system. These measures were described in a report by the South China Morning Post as “fine-tuning of economic stimulus” and a “series of small steps,” an indication of the government’s believe that the growth slowdown may hit bottom next year, at around 6%. That could happen if a trade deal is reached with the U.S. before the 2020 presidential election there. In October, new lending in China fell to its lowest level this year and during a credit analysis conference it sponsored, the People’s Bank ordered Chinese lenders to better serve the real economy. It’s unlikely, however, that these marginal rate cuts are going to bring a substantial change in China’s economic outlook and many observers expect the PBOC to move further in the same direction. But there’s a chance that the ‘small steps’ might turn out to be wrong, as has already happened in the West where interest rate cuts have not revived growth but have created…

US Lawmakers Want to Brand Libra a Security, Association Disagrees

US Lawmakers Want to Brand Libra a Security, Association Disagrees

A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might be facing yet another regulatory hurdle. Meanwhile, lawmakers sponsoring the bill say stablecoins should be classified as securities to protect U.S. consumers. If passed, stablecoin projects like Libra will potentially fall under the purview of stringent U.S. securities regulations. Critics of the move remark that such measures only serve to further dampen the country’s position in the emerging digital landscape. Some commentators have long accused regulators of chilling innovation in the U.S. crypto and blockchain space. Libra maintains that its proposed stablecoin project is a commodity. The association is also moving forward with developing the payment system, recently releasing updates on the state of its testnet and detailing the number of transactions carried out so far. U.S. lawmakers want “managed stablecoins” classified as a security As previously reported by Cointelegraph, two Texas representatives — Lance Gooden and Sylvia Garcia — have proposed a piece of legislation that will classify stablecoins as securities. Named as the “Managed Stablecoins are Securities Act of 2019,” the bill, which is sponsored by representatives from both sides of the aisle, could place an even greater regulatory burden on stablecoin projects like Libra. In a statement quoted by The Hill, Rep. Garcia remarked: “Managed stablecoins, such as the proposed Libra, are clearly securities under existing law. This legislation simply clarifies the statute to remove any ambiguity.” A co-sponsor of the bill, Rep. Gooden, also echoed the sentiment that Congress should take the lead in shaping the legal landscape for cryptos and the digital space at large. According to Gooden, “It’s the responsibility of Congress to clarify the regulatory framework that will apply to stablecoins, especially now that mainstream institutions are offering them to consumers.” It appears that consumer protection concerns are at the heart of lawmaker endeavors to put stablecoins under the security token paradigm. However, such a move increases the regulatory burden on stablecoins, as U.S. securities laws contain a litany of reporting and compliance requirements. Cointelegraph reached out to the Libra Association for comments about the proposed bill. In its email response, Dante…