A YouTube Performed ICO LiveEdu Reaches $10 Million

According to an announcement, LiveEdu has reached the $10M hardcap for ICO.

There are over 5000 people from 150 countries participating in this ICO. Many of them are professionals working in the industry.

CEO, Dr. Michael J. Garbade had this to say, “You guys surprised us all. We launched our crowdsale without any private pre-sale or any aggressive bonus model for major contributors. No contributor even had 100% bonus, but still we have been able to close quickly. Thank you for believing in our project and the opportunity of disrupting the $306 billion professional development market one shot at a time. We are looking forward to hiring experienced new team members from LinkedIn, YouTube and Lynda. We look forward to setting up LiveEdu Project Screens in cities around the world, one city at a time.”

The CEO of the project Dr. Michael J. Garbade said there are working to create a new schedule for ICO. And the first priority for them are cryptocurrency tokens. He advised to be patient and wait for final results. Michael said they are monitoring all online social communities and forums to have a better result.

LiveEdu is described as a decentralized P2p project learning platform for those who want to improve their skills in future technologies. LiveEdu is building the YouTube for online education and professional development. They are taking one category from YouTube and enforce it into their own version.

LiveEdu will be making announcements in the coming days about:

• KYC
• Token Issuance
• Exchange Listings

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Blockchain Technology Could Be Used to Prove Your Age and Inrease Government Transparency 

Today, a leading experts in blockchain area said, that the digital ledger could be useful in the near future to do everything from proving your age in a bar to government transparency increasing.

Tiana Laurence, who is a startup founder, said that public services could use the digital ledger, called blockchain for increasing the trust in information.

Blockchain is used by Bitcoin to record all transactions and this mathematical data cannot be doctored.

The author of Blockchain for Dummies, Ms Laurence thinks that the technology is likely to be used by organisations who need to prove goods, services and evidence were sent from A to B. This can be helpful for preventing corruption and fraud.

Ms Laurence said after London Blockchain Week it could help over-18s to prove their age without revealing their identity,  or NHS doctors to make medical records “private but verifiable”.

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Ukraine As a Blockchain Technology Leader

Ukraine was covered by two top subjects at the World Economic Forum, which is agriculture and blockchain technology.

The Ukraine’s State Government Agency’s advisor Kostantyn Yarmolenko says the country ranks among 14 country leaders in blockchain innovation, which was presented at the World Economic Forum in Davos, Switzerland.

Don Tapscott, the world’s leading experts in blockchain technology, presented the world map of the blockchain with 14 country leaders. Ukraine is among them. On January 26 Yarmolenko posted on Facebook, that countries like United States, Canada, Brazil, Australia, Israel, the Emirate of Dubai, Georgia, Estonia, Great Britain, France, Germany, Sweden and China are also among the key hubs for blockchain technology.

He also informed, that in the following weeks the Ukrainian lawmakers would represent a  blockchain bill in the parliament. Ukraine was covered by two top subjects at the world economic forum, blockchain technology and agriculture industry.

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Philippines Make Steps To Regulate Cryptocurrency Trading

Today, the Securities and Exchange Commission of Phillippines said it is making rules for cryptocurrency transactions regulation. The purpose is to protect investors and weaken the risk of fraud.

Emilio Aquino, the SEC commissioner in charge of enforcement and investor protection said the regulation is expected to be finalized this year.

Authorities mainly from Asia, have made attempts to reinforce the trading of cryptocurrencies- a form of digital money created and maintained by its users.

China has banned Initial Coin Offerings (ICOs) and shut down local trading platforms, while South Korea is working on steps to ban virtual coin exchanges.

Aquino said the ICOs regulation will include guidelines on cybersecurity of cryptocurrency markets, eligibility of issuers including the officials and technology utilized, and financial literacy of investors.

“Unfortunately, there have been a lot of cases where ICO promoters vanish into thin air. We don’t want that to happen here,” Aquino said.

Last week hackers stole about $530 million from Tokyo-based cryptocurrency exchange Coincheck Inc, which is the one of biggest thefts of digital coin.

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Ethereum Rising 30 % Weekly

Mainstream media, such as Forbes, shows interest in Ethereum reporting about its upward momentum. There was expected a market correction, and it has been supposed that such corrections are a usual thing for cryptocurrencies.

Ether Rising

According to market views, Ethereum is up over $1,200 from a low of $930 last Monday. This is a 30 % weekly rise. The same cannot be said of Bitcoin, which has conversely shown very little gain from its price this time last week. Ether’s last 24 hour trade was about $4,5 billion, with South Korean Bithumb exchange being the top with 10 % of the trade.

NewsBTC editor Joseph Young says the rise is in line with an increase in transactions on the network.

Greater Demand

The demand for Ethereum will grow, because the number of ICOs and decentralized applications are growing. It is the platform of choice at the moment due to its level of support and a number of scalability improvements in the pipeline for the network.

Ethereum co-founder Vitalik Buterin said:

The Casper aspect of Casper, where two conflicting blocks should not be able to be finalized, seems to actually happen running and the network agrees all along what the final chain is. So that part has been totally successful. On the Sharding side, quite a lot of work has started.

 

It takes a lot of the work off the chain involving Sharding to increase transaction speeds and lessen the load on the distributed ledger. Ethereum is growing increasingly and it is seen on the price.

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Japanese Exchange To Repay Customers After Hacking

On Sunday Tokyo-based exchange Coincheck informed it will refund to customers about 46.3 billion yen, about $400 million U.S. dollars, after hackers incident.

All the 260,000 customers, who lost their NEM holdings will be repaid by company’s own funds. The digital coin NEM is the 10th biggest cryptocurrency by market cap.

The company detected an “unauthorised access” of the exchange on Friday. Later it suspended trading for all cryptocurrencies apart from bitcoin.

The resulting 58 billion yen ($530 million) loss exceeded the value of bitcoins which disappeared from MtGox in 2014.

The major Tokyo-based bitcoin exchange lost about 850,000 bitcoins, with amount of $480 million at the time.

The MtGox incident added enthusiasm for digital currencies in Japan. In April it became the first country in the world to legalize bitcoin.

According to a view, nearly one third of global bitcoin transactions were denominated in yen.

As many as 10,000 businesses in Japan are thought to accept bitcoin and bitFlyer, the country’s main bitcoin exchange, saw its user base pass the one-million mark in November.

On Sunday major Japanese newspapers described Coincheck as “sloppy” and said the company had “expanded business by putting safety second”.

The country’s Financial Services Agency was expected to take measures against Coincheck, which claims itself as the leading cryptocurrency exchange in Asian territory.

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3 Well-Known Cryptocurrency Slangs Everyone Should Know

Along with the popularity of cryptocurrency world over, there are popular slang terms, which have become famous among crypto users. We represent the 3 prominent slang terms with their explanation.

1. HODL

HODl is a slang term used in Bitcoin community, when referring to holding the cryptocurrency rather than selling it. On a Bitcoin Forum in December 2013 a cryptocurrency user posted a typo “I AM HODLING.” In 2017 this expression was listed by Quartz as one of the essential slang terms in Bitcoin culture, and described it as a stance, “to stay invested in bitcoin and not to capitulate in the face of plunging prices.

               

2. Sats 

 Sats is short for ‘santoshis’, a term derived from the first name of bitcoin’s mysterious creator named Satoshi Nakamoto. It refers to the smallest fraction of a bitcoin that can be sent, which is 0.00000001 of bitcoin.                                                                                                                                                

3. Whale

This slang is mainly used for describing the big money players in Bitcoin area. A whale is someone who owns a big amount of digital currencies. It could also be large institutions, such as Hedge Funds and Bitcoin Investment Funds.

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Japanese Cryptocurrency Exchange Hacked: $530 Million Lost

The incident is already reported to the police and Japan’s Financial Services Agency.

A major cryptocurrency exchange in Tokyo called Coincheck has been hacked losing about $534 million ( about 58 billion yen) of virtual money, according to national broadcaster report NHK.

On Friday afternoon Coincheck posted, that it had suspended withdrawals of almost all cryptocurrencies.

The exchange has already reported the incident to the police and to Japan’s Financial Services Agency, NHK said.

Tokyo-based Mt. Gox, which handled 80 % of the world’s bitcoin trades, filed for bankruptcy in 2014, after losing 850,000 bitcoins with 500 million U.S. dollars and a $28 million from its bank accounts.

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Financial Services Agency of Japan Will Not Support Cryptocurrency Futures Yet

According to a report, Japan’s Financial Services Agency (FSA) has said that financial regulator isn’t going to allow cryptocurrency futures trading for this moment.

The FSA may be afraid to allow risky investments in Japanese market, after MtGox incident. In the past ETHNews  wrote about the possible market manipulation by these financial instruments.

The FSA is the government body charged with overseeing the Financial Instruments and Exchange Act, which would have to be amended to recognize digital assets as financial products in order for related derivatives to be traded legally on Japanese exchanges. According to the official, the agency may revisit the question at a future date.

The FSA regulates not only the traditional exchanges. The agency also approves virtual currency exchanges to operate.

Have to mention, that bitcoin futures have already begun trade in Chicago Merchantile Exchange and Chicago Board Options Exchange in the United States.

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Litecoin Technical View 26.01.2018

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Bitcoin To Reach $6,000 and $60,000 This Year: Philipp Nunn

 

Philipp Nunn is a cryptocurrency expert, who has predicted that the price of Bitcoin will reach $6,000 and $60,000 this year. Currently, he is the CEO of the Blackmore Group and Wealth Chain Group and has a demand as a good specialist on cryptocurrencies and Blockchain.

A $100 million crypto fund is being raised by Nunn, who first started investing in Bitcoin 2 years ago.

Despite its value soaring to $20,000 he’s not cashed in any of his investment and uses trading bots to monitor different exchanges.

Nunn told Business Cloud, that the reason he had predicted the price will rise to $60,000 is the Bitcoin isn’t yet fully adopted.

“I’d probably say that less than 1 per cent of the world has any holding in crypto at the moment. And also none of the institutional funds have done anything with it as yet. As crypto grows and becomes like a version of the dot com, which is going to start to happen more, people will invest and big money will come into it. “

As Bitcoin has a high volatility, Nunn predicted its value to drop to $6,000 this year. Also he gave a thought, that Blockchain would change the world, and called it the new ‘Internet 2.0’.

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Bitcoin Technical View 26.01.2018

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Cryptocurrency Trading Legalized By Russian Finance Ministry, But Central Bank Disagrees

Today, the local media TASS reported, that the Russian Finance Ministry (MinFin) has presented a regulation bill to establish cryptocurrency trading, ICOs and mining.

However, the Russian Federation central bank disagrees with Ministry of Finance on the issue, that cryptocurrency exchanges should be legalized. Central Bank authorities only said, that the trading rules should be accepted only for tokens to attract investors.

The cryptocurrency and tokens represent a digital financial asset which are not allowed to be used as payment in Russia, according to the bill’s conditions.

MinFin claims to protect the rights of unqualified investors by allowing trading only via authorized cryptocurrency exchange operators.

Concerning ICOs, tokens can be issued by legal entities or sole proprietors for the purpose of fundraising. ICOs must be accompanied with some legal documents disclosing the details of the contract such as issuer’s full name, location, official website and price of a token.

The document says that professional investors are not allowed to invest above 50,000 Rubles, which is the same as $900 for each ICO.

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IMF’s Lagarde – Cryptocurrency Mining Takes Big Amount of Energy

According to IMF chief Christine Lagarde, the amount of power wasted on producing bitcoin and other cryptocurrencies soon will be equivalent to the energy uses of countries like Argentina.

At the World Economic Forum in Davos Lagarde said in an interview given to Bloomberg:

“The bitcoins mining, which is this accelerated and augmented use of computers to actually determine the value and incentive the functioning of the mechanism, is energy angry.  And we figure that in 2018, if it continues, that system will actually consume as much electricity as Argentina.”

Cryptocurrency miners used more than 37 gigawatt-hours a day, according to the Bloomberg’s data, which is the same as 30 1.2-gigawatt nuclear reactors running at full capacity.

Digiconomist’s Bitcoin Energy Consumption Index says cryptocurrency mining could power 4,124,115 US households, and the energy consumed can be compared to Iraq’s electricity consumption.

The website claims, that cryptocurrency network is fueled by coal-fired power plants in China, because of cheap energy. The result is an extreme carbon footprint for each transaction.

“In times of climate change and when we look at how much coal is being used in some Chinese provinces to actually mine bitcoin, it’s a big concern,” Lagarde said.

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American Rapper 50 Cent a Bitcoin Millionaire

Rapper 50 Cent has made millions from bitcoins, which he got in 2014 for his album called “Animal Ambition”. At that time the album cost only $662.

According to an initial report in TMZ, the famous rapper forgot about 700 coins, which cost about $400,000 in 2014, and left his account unused for years.

However, the recent cryptocurrency surge multiplied his profits and now the rapper’s 700 bitcoin is worth more than $7,5 million, as the “digital gold” costs $11,000.

50 Cent posted on his Instagram profile:

“Not bad for a kid from South Side, I’m so proud of me.”

Bitcoin, a virtual currency created from computer codes, was worth only a few U.S. cents when launched in 2009 by someone using the Japanese-sounding name Satoshi Nakamoto.

The well-known virtual currency bitcoin, which was created in 2009 from computer codes, worth only a few cents at that time. Unlike the U.S. dollar or euro, bitcoin has no central bank or government backing it.

During 2017, the price of bitcoin along with other cryptocurrencies surged to a record high of $20,000 in December, before dropping to $10,000 in January, because many investors started massive sell-offs.

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What Is an ICO?

An Initial Coin Offering (ICO) is a type of crowdfunding which is facilitated through the use of distributed ledger technology. Distributed ledger technology is commonly known as “blockchain”, but it is only a one type of distributed ledger technology.

The main amount of ICOs have been launched by companies, who specialize in distributed ledger technology services, but technically any company is able to launch an ICO.

If an issuer wants to launch an ICO, typically he issues an online “whitepaper” detailing the service or the product he wants to raise money for. This is the same as the prospectus or admission document that a company is required to produce in connection with the admission of securities to trading on a stock market.

There are no content requirements or minimum standards for whitepapers. Because of this facts, there is a common misconception that all ICOs are completely unregulated.

The “subscription monies” will normally be in the form of a type of existing cryptocurrency such as Bitcoin or Ether.   Most fundraises will have a minimum target amount and there will normally be a contractual term of the fundraise which states if the minimum target is not raised, the “investment monies” will be returned to the investors.

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Bitcoin Cash Technical View 25/01/2018

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Arsenal Starts Cryptocurrency Partnership

Arsenal, an English Premier League football club has started a partnership with cryptocurrency gaming platform provider called CashBet.

CashBet Coin is specifically created for so-called  iGaming.

According to the contract, CashBet Coin will be the exclusive Blockchain partner of the club. And Arsenal becomes the first football team in relation with cryptocurrency.

Inside the Arsenal’s Emirates Stadium, CashBet Coin will have prominent branding placements.

The chief executive and founder of CashBet Mike Reaves said:

“With our ICO for CashBet Coin, we are actively targeting a global, multi-billion-dollar marketplace of iGaming content providers, operators and players. We are delighted to do so in partnership with one of world football’s true giants in Arsenal, enabling us to build our brand and engage this audience in a meaningful way.”

The pre-sale of ICO began yesterday and will end on 20 February.

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Bitcoin Among Americans: Majority Know It, But Very Few Purchased

According to a study by Global Blockchain Business Council and SurveyMonkey, nearly 60 % of Americans knows about the most popular cryptocurrency Bitcoin, but very few own it.

In  a survey conducted in January among 5,700 adults about the popularity of digital currencies, it became obvious that only 5 % actually own the virtual coin, also an additional 21 % had plans to purchase the coin. Among the owners, 71 % are male, 58 % are young with the age of 18 to 34.

Around 70 percent of those participated in the survey see significant upside, and expect the price to go up five years from now, while only 13% believe it will fall.

Among Americans, about 38 % of them think Bitcoin is a bubble, which will burst this year. Some of 31 % gave the same opinion about U.S. stocks and 27 % about housing prices.

As regards for investors, they have lack of trust and opportunity to return for digital currency. Those, who own Bitcoin are also trust more it, than the U.S. Government.

Regarding other major cryptocurrencies, the study noted that 46 % Americans have heard of Ethereum, 41 % of Litecoin, and 23 % of Ripple.

At the start of 2017, bitcoin has surged to $20,000 in December from $1,000. After that, the price dropped to $10,000 and has been trading around $11,000.

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Weiss Ratings Has Given C Grade To Bitcoin

The Weiss Ratings made the first attempt to rank cryptocurrencies and gave Bitcoin a C+ in it’s F grading system.

Among 74 cryptocurrencies there is no one getting A grade, but the second largest cryptocurrency called Ethereum, has got B – or “good”.

There are four criterias on which the cryptocurrencies were rated: Risk Index, Technology Index, Reward Index, Fundamentals Index.

Bitcoin did get excellent scores for security and widespread adoption, despite the C+ rank. But it is encountering major network bottlenecks, which causes delays and high transaction fees.

Ethereum’s B was based on its readily upgradable technology and better speed, despite some bottlenecks.

Ripple got C grade, as it has the most mainstream adoption by financial instiutions.

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