Monat: August 2018

Crypto market recovers: SEC – Bitcoin and Ethereum no securities

The US-SEC has again clarified its position on Ethereum and Bitcoin and states that both crypto currencies are not securities. The announcement by William Hinman, Head of the SEC Corporate Finance Division, has addressed one of the most pressing issues in the crypto market and brought about a return to positive market developments.

Hinman’s official statement made at the Yahoo Finance All Market Summit expressly exempts Bitcoin and Ethereum from definition as securities:

„In my understanding of the current state of the ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions.“

US regulators unveil Bitcoin Profit

Some crypto currencies are not securities, according to Hinman. In his speech at the Summit, Hinman stated that the SEC has no plans to change the definition of securities. There will therefore be no change in the law to define the new asset class. The name onlinebetrug of a token Bitcoin Profit is not important, but the way it is sold, what it promises and how it behaves, Hinman said.

In the SEC official’s view, the economic reality of each token is more important than its identification. During the extensive session on crypto currencies, Hinman discussed the SEC’s position on Bitcoin – which, like Ethereum, is not considered a security by the SEC due to its decentralized nature.

Bitcoin and Ethereum no securities

The SEC official unfortunately did not go into detail about the various old coins, but expressed that further coins would be exempt from classification and regulation as securities. Hinman suggested that some digital assets could potentially be structured as a consumer good and not as a security, especially if the support is explicitly intended for personal use and not as an investment. Above all, this provides certainty for many developers who focus on projects that create a blockchain platform with real use cases that the respective tokens are not generally classified as securities. Nevertheless, the issue of fraud in the ICO ecosystem is one of the SEC’s main concerns.

IOTA joins Ford, BMW and GM to connect to MOBI

On Tuesday at the Future Blockchain Summit in Dubai it was announced that Ford, General Motors, BMW and Renault are only some of the big names that have joined MOBI – the Mobility Open Blockchain Initiative. The aim of the consortium is to use Blockchain technology to make mobility safer, more environmentally friendly and more affordable.

Table of Contents
Mobility Open Blockchain Initiative
A decentralised mobility ecosystem
IOTA cooperates with MOBI
The first projects in the starting blocks
Mobility Open Blockchain Initiative
MOBI aims to explore the use of blockchain and distributed ledger technology to develop a digital mobility ecosystem to make traffic safer, more affordable and more accessible. Since they work with companies that account for over 70 percent of global vehicle production in terms of market share, it seems they have a pretty good chance of achieving this.

Bitcoin Code a new Platform

Chris Ballinger, former CFO and Director of Bitcoin Code at the Toyota Research Institute, has joined MOBI as CEO to „create a more open platform where users, owners, mobility service providers and infrastructure providers can better control and monetize their assets, including their data.

A decentralised mobility ecosystem
MOBI and its partners want to ensure that they can create an ecosystem in which companies and consumers can have security and sovereignty over their travel data, manage carpooling and car-sharing transactions and store vehicle identity and usage data.

They can use the power of blockchain technology to reliably capture vehicle ID numbers and collision histories and create greater transparency in supply chains, assembly lines and at dealers. To create this mobility ecosystem, they invite stakeholders from all areas of the mobility value chain.

These are not only limited to the giants of car manufacturers, but also work with stakeholders from public transport and toll road providers, other modes of transport, technology companies, academic institutions, start-up innovators, regulators around the world and blockchain companies such as IOTA.

There are many advantages to working in a consortium instead of tackling such a project alone. By working with MOBI, their partners can create transparency and trust among users, reduce the risk of fraud and reduce friction losses and transaction costs in mobility, such as fees or surcharges from third parties.

IOTA cooperates with Bitcoin Profit

Shortly after the announcement of the Bitcoin Profit scam the IOTA Foundation published a statement that it also joins the automobile consortium. The mission of the IOTA Foundation is to support the development and standardization of new distributed ledger technologies. Dominik Schiener and David Sønstebø co-founders and co-presidents of the IOTA Foundation:

„WE ARE PROUD TO BE A MEMBER OF MOBI AND TO WORK WITH OTHER LEADING GLOBAL COMPANIES TO PROMOTE INDUSTRY STANDARDS THAT UNLEASH THE POTENTIAL OF DLT FOR THE MOBILITY SECTOR TO CREATE A SEAMLESS, SAFE AND AFFORDABLE MOBILITY EXPERIENCE.

The first projects in the starting blocks
MOBI and its partners will initially concentrate on the following projects:

Vehicle identity, history and data tracking
Supply chain tracking, transparency and efficiency
Autonomous machine and vehicle payments
Secure mobile commerce
Data markets for autonomous and human driving
Car sharing and carpooling
Usage-based mobility prices and payments for vehicles, insurance, energy, congestion, pollution and infrastructure.
MOBI seems to be a promising venture, considering that there are so many big names on board. It will be interesting to see how the project develops and what impact it will have on the entire automotive industry.

Bulls and bears – Crypto Market

The 2018 bitcoin bloodbath continues as the leading crypto currency has dropped to a new low for the year of $5,885.41. With prices down almost 50 percent this quarter and down almost 75 percent from the all-time high in December.

Bulls and bears have their own theories about the factors affecting the market. The market is volatile, crypto traders are emotional and the bubble bursts are all ad hoc arguments most people use, but there are actually factors that have kept Bitcoin low all year round.

The Bitcoin Code Scandal

The shadow of the now legendary Bitcoin Code hack and the entire FUD that followed it continued this year when massive sales of Bitcoin and Bitcoin Cash were uncovered by the insolvency administrator of Mt. Over a few months, about 36,000 bitcoin and 34,000 bitcoin cash were pumped into the market, potentially bringing the market to a low of $6,000 in February.

In 2018 it seems to be the year of the stock market hacks. The Japanese crypto exchange Coincheck was hacked and as much as $534 million in NEM tokens were stolen. The coincheck hack resulted in regulators and regulators intervening to protect users. Since January there have been at least four more large hacks, most recently South Korea’s largest crypto-exchange bitumb.

The Bitcoin Code hack

The overall market effects of the Bithumb Hack were comparatively insignificant, partly due to the rapid reaction of the stock market. In addition, Bitcoin Code was announced as with Coincheck, that they would pay for the stolen capital.

Capital gains tax, regulation and market manipulation

Krypto Bull Tom Lee of Fundstrat Global Associates argues that the sharp drop in the Bitcoin price earlier this year was an effect of newly coined Bitcoin millionaires selling coins to pay the $25 billion in tax debt. He suspected that Bitcoin would gain momentum after the end of April 15. In the short term, Bitcoin also recovered from $8,000 towards $10,000.

advertorial

Another not insignificant factor is the uncertainties regarding the forthcoming regulation. While traditional investors and institutions in particular are waiting for a legal framework, the Bitcoin share price seems to have been falling since the beginning of January. Until an official framework has been created, no institutional fresh capital will enter the bitcoin market.

In addition, there are currently strong accusations of market manipulation. A professor claimed that Tether was responsible for the sharp rise in BTC in December. However, Tether denies these accusations and an unofficial audit by a law firm points to the fact that the holdings had been checked as of 1 June.

The Bitcoin price bounced

The Bitcoin price bounced off the bottom of its rising channel and stands ready for a rise
The BTC price found support at $9,000 and could further increase its profits, but technical indicators still show declining pressure

Technical indicators Signals

The 100 SMA crosses the longer-term 200 SMA from top to bottom to indicate that the path of least resistance is downwards. In other words, the sales pressure has not yet been overcome and is expected to continue. Moreover, the 100 SMA appears to be dynamic resistance for the time being. The RSI is over 50 and shows an overhang of buyers at the moment. The stochastic moves down from the overbought zone so that the bitcoin price could follow. So far, the bitcoin price, as clearly seen in the chart in the channel pattern, to break the trend must break bitcoin the channel – resistance at $ 10,170. So far, $9,000 has served as the channel’s support area and prevented further losses.

https://www.youtube.com/watch?v=1EAyA_ZEV10

Bitcoin Chart from TradingView

market factors
The bitcoin price appears to be more resilient as investors are expected to focus more on previous positive developments. At the moment, market signals are actually pointing to a long-term rise, as with the announcement of the NYSE and Bitcoin’s own stock exchange, Bitcoin reaches Wall Street and access to traditional investors. Also interesting is Tom Lee’s view that the annual consensus conference is an indicator of a price increase.

Bitcoin Cash Prize Highlights

The Bitcoin Cash price found support close to $1,460 and recovered against the US dollar
This week’s most important bearish trend line, breaching a resistance at $1,580 on the hourly chart.
BCH also moved above the resistance level at $1,600
Bitcoin Cash is back in a positive zone of over $1,600 against the US dollar. BCH needs to settle above $1,675 and the 100 hours SMA to gain momentum.

Technical indicators Signals
After further losses, Bitcoin Cash was able to find support near $1,460 against the US dollar. The price traded to a low of $1,463 and began a rally. Thus, further gains were possible and the price broke through important resistance hurdles at $1,550 and $1,600.

More importantly, however, the bearish trend line was breached with a resistance at $1,580 on the hourly chart. These are all positive signals as the price is now well above $1,600. Right now, buyers are struggling to keep the price above $1,650 and the 100 hours SMA. The level of $1,675 is a decisive resistance.