Bank Frick Expands Range of Crypto Assets to Offer Trading and Custodian Services for Bitcoin Cash

Bank Frick Expands Range of Crypto Assets to Offer Trading and Custodian Services for Bitcoin Cash

Bank Frick, a leading European blockchain bank, has expanded its range of cryptocurrencies for which it offers trading and custodian services.

Bank Frick now offers trading and secure custody of bitcoin cash (BCH) for professional market participants and wealthy private clients. Trading takes place within the fully regulated environment of the bank.

Security With Cold Storage Solutions and Diversification

As of today, professional market participants can invest in bitcoin cash (BCH) at Bank Frick. The cryptocurrency can be bought using euros, US dollars and Swiss francs. Trading takes place once a day. Since 2018, Liechtenstein-based Bank Frick has been offering investors a smooth and secure way to trade the leading cryptocurrencies bitcoin (BTC), litecoin (LTC), ripple (XRP), ether (ETH), ethereum classic (ETC), NEM (XEM), qtum (QTUM) and stellar (XLM). Clients can also deposit these assets with the bank for safekeeping.

Bank Frick has designed this offer particularly for institutional clients, miners and mining firms, and wealthy cryptocurrency investors. “By adding Bitcoin Cash, we are offering our clients yet another way to diversify their portfolios”, said Stefan Rauti, Head of Blockchain Banking at Bank Frick. “We are pleased to be able to offer this attractive cryptocurrency, which underlines our position as Europe’s leading blockchain bank.” In addition to trading, Bank Frick now offers secure custody of bitcoin cash. The bank keeps its customers’ crypto assets in cold storage wallets. These are physically separated from the web and therefore cannot be externally hacked. The wallets and their backup copies are held securely on a geo-redundant basis. Because investments in crypto assets are highly speculative, Bank Frick recommends to its clients that they form only a small part of any portfolio.

About Bank Frick

Bank Frick specializes in banking for intermediaries. The Liechtenstein bank provides a fully integrated offering of classic banking and blockchain banking services. Its clients include fintechs, asset managers, payment service providers, family offices, fund promoters, pension funds and fiduciaries. Bank Frick has been family-run since its foundation in 1998 as a licensed universal bank, and it adopts an entrepreneurial approach. The bank is currently under the majority control of the Kuno Frick Family Foundation (65%). Net1, the Nasdaq-listed financial technology group, owns 35% of its share capital. In October 2019, it was announced that Net1 would be increasing its stake in Bank Frick to 70%. The acquisition is awaiting approval by Liechtenstein’s Financial Market Authority (FMA). The Bank employs over 130 members of staff at its Balzers office and operates a branch in London, U.K.

Bank Frick is one of Europe’s pioneers of the regulated blockchain banking sector. Its offering covers trading and custody of crypto assets, as well as token sales. The bank also develops tailored crypto-structuring solutions for intermediaries. In addition to its highly regarded basic services, Bank Frick’s classic banking offerings cover services for funds and issues, focusing on formulating European (AIF, UCITS) and national fund solutions. In the capital market sector, Bank Frick develops tailored financial products for intermediaries and supports them along the whole issue process, acting also as a custodian bank. Bank Frick is the only Liechtenstein bank with acquiring licences from Visa and Mastercard, and it can process card payments globally for payment service providers and their online merchants.

Bank Frick established subsidiaries in 2019 to appear independently on the market with new services: Distributed Ventures AG, an incubator and accelerator to promote and finance fintech and blockchain start-ups, and The DLT Markets AG, which offers institutional investors professional access to digital assets. Also in 2019, Bank Frick took over the fintech company Tradico AG, which specializes in finance for goods purchasing for SMEs, and acquired a majority stake in the fintech company 21.finance AG, which operates area2Invest, a digital investment platform for classic and tokenized financial products.

Article Produced By
Avi Mizrahi

Avi Mizrahi is an economist and entrepreneur who has been covering Bitcoin as a journalist since 2013. He has spoken about the promise of cryptocurrency and blockchain technology at numerous financial conferences around the world, from London to Hong-Kong.

https://news.bitcoin.com/bank-frick-bitcoin-cash/

Heiko Closhen, Entrepreneur

Dubai Launching Crypto Valley in Tax-Free Zone No Personal or Corporate Income Tax

Dubai Launching Crypto Valley in Tax-Free Zone – No Personal or Corporate Income Tax

A Dubai government authority has announced that it is launching a crypto valley in the country’s free zone

where there is no personal or corporate income tax. With the help of its partners from the Swiss crypto valley, Dubai will offer a variety of services such as incubation for startups, coworking facilities, blockchain training, education, events, mentoring and funding.

Crypto Valley in Dubai’s Free Zone

DMCC (Dubai Multi Commodities Centre), a Dubai government entity, announced at Davos 2020 on Thursday that it is launching a crypto valley in its free zone, at the heart of the city’s leading business district. DMCC explained that it is “Designed to foster growth, collaboration and integrity across the global blockchain economy,”

elaborating:

The ‘DMCC Crypto Valley’ will offer a variety of services including incubation for early-stage startups, co-working facilities, innovation services for corporate clients, blockchain and entrepreneurship training, education, events, mentoring and funding.

 

“The launch of the crypto valley in DMCC will enhance the city’s dynamic business environment, and support the wider strategy of the UAE government to attract the innovators, entrepreneurs and pioneers that will shape the future economy,” commented Executive Chairman and CEO Ahmed Bin Sulayem.

Established in 2002, DMCC aims to enhance commodity trade flows through the country. Its free zone offers a range of benefits including 0% personal and corporate income tax. Members can also remit all profits made back to their home countries without restriction. In October 2019, DMCC received the Financial Times Fdi magazine’s “Global Free Zone of the Year” award for the fifth consecutive years. A total of 85 global free zones were nominated in the 2019 competition. Situated in the heart of Dubai, DMCC is home to over 100,000 people and 17,000 member companies representing more than 170 countries and 20 business sectors. The companies range from startups to multinational corporations. Every month, 170 more companies join DMCC, 95% of which are new to Dubai, the authority says.

Partners From Swiss Crypto Valley

For the crypto valley launch, DMCC is collaborating with Swiss investment company Crypto Valley Venture Capital (CV VC) and its subsidiary CV Labs to develop “a comprehensive DMCC Blockchain Strategy that is aligned with the Emirates Blockchain Strategy 2021, and supports the Dubai Blockchain Strategy launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the crown prince of Dubai and chairman of Dubai Executive Council.” The agreement between the companies was signed on the sidelines of the World Economic Forum in Davos. “We are thrilled to move into the MENA [Middle East and North Africa] region with DMCC as a strong local partner,” CV VC and CV Labs founder Ralf Glabischnig

commented, adding:

We are looking forward to bringing our strong partner from crypto valley to Dubai, like Coreledger, Inacta, Lykke, and Tezos which are already active in the MENA region.

With the launch of its own crypto valley, Dubai joins the company of Switzerland and the Philippines, which have already established their own crypto valleys. The Philippines has built a crypto valley of Asia which will soon get its own airport.

Article Produced By
Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

https://news.bitcoin.com/dubai-launching-crypto-valley-tax-free-zone/

Heiko Closhen, Entrepreneur

5 Easy and Safe Ways to Earn Free Ethereum in 2020

5 Easy and Safe Ways to Earn Free Ethereum in 2020

In this article, we will be listing five easy and safe ways to earn free Ethereum,

without having the need to invest your own money and the risk that is associated with it. The payouts are small but over time they add up to a good chunk, enough to challenge those who still believe that “there is no such thing as a free lunch.” The crypto industry has created many opportunities for individuals to realize their dreams of financial freedom, but it’s worth pointing out that, whatever you find out there, if it looks too good to be true probably is.

Cryptocurrency Faucets

 A faucet is usually a website or app that offers the user a small amount of crypto in exchange for performing a task. Most of the time the task required is completing a simple captcha, but it can also be watching an ad or playing minigames. A faucet makes money via the ads on its platform, and shares some of the revenue with its users in the form of cryptocurrency. There is a timer, however, you can’t reclaim money from the faucet every minute, and also a minimum withdrawal requirement, meaning that you will only be able to reclaim the free Ethereum to your wallet after a certain amount. Ethereum faucets won’t offer a huge flow of value but patiently, drop by drop, you can earn a sizeable amount.

Token Airdrops

 Put simply airdrops are giveaways, the definition of free money. So why would someone do something like that? Let’s imagine a new crypto project is looking to launch their own token and fund their operations through an initial coin offering (ICO) or another fund raising mechanism.  One good way projects use to get the word out there and build a community is to giveaway a portion of their tokens in an airdrop. It is important to note that airdrops won’t earn you Ethereum directly.  The good news is that the majority of tokens use the Ethereum blockchain (ERC-20) and can be kept in your ETH wallet and easily sold for some free Ethereum once listed on exchanges. There are various platforms out there where one can track the latest airdrops.

Crypto Bounties

Bounty campaigns are a tool used by new crypto projects to help them get some initial traction and online buzz. The participants are required to do simple tasks such as leaving a like, comment, or sharing social media posts from a certain crypto project. The most used social media platforms are Facebook, Telegram, and Twitter and the rewards are proportional to how big of a following you have on these platforms. Other common tasks include translation work, creating your own blog post and/or video content, and signature campaigns on the Bitcointalk forum, where most recent bounties appear. Once the bounty campaign comes to a halt, the newly minted tokens are distributed throughout the participants of the bounty campaign. As most new tokens are ERC20 tokens, they can easily be exchanged for some free Ethereum once listed on exchanges.

Work for Ethereum

Yes, I know what you are thinking. Is it free Ethereum if we still have to work for it? No, but the upside is that it can pay way better than the other alternatives listed. The diversity of jobs offered is the same as other freelancing platforms with the difference that the jobs are paid in cryptocurrency, in this case ether. If you have some skills in design, writing, or coding (just to name a few) it might be wise to take a look at cryptogrind or XBTFreelancer. Reaching out to crypto businesses directly may also do the trick, as some are always looking for talent to help them out. Even if most don’t reply or turn you down, companies are now more than ever seeking talent in the crypto and blockchain space, so keep trying.

Staking and Lending

If you happen to already have some Ethereum, a good option is to lend it to others to earn interest. Decentralized finance platforms like Compound and Oasis will allow you to do just that. The way it works is the platform will receive the money and lend it to others, usually margin/short traders, and share the interest it receives with the lender. Another good option is to stack up on Ethereum before its major 2.0 update. Among the many improvements, the network will be switching from a Proof-of-Work to a Proof-of-Stake consensus algorithm. Once that is done, if you have a sufficient amount of Ethereum (probably 32 ETH) you can stake it and earn interest.

The Bottom Line

Some methods involve a lot of work, others don’t require much of anything. Some you need to already own Ethereum, while others allow you to start from zero (although the payout is considerably smaller).  Crypto has made value accessible to anyone with an internet connection, so choose the one method that best fits your needs and skills and you will be carving out your own space in the cryptosphere, starting with some free Ethereum. 

Article Produced By
Antonio Madeira

https://www.cryptocompare.com/coins/guides/5-easy-and-safe-ways-to-earn-free-ethereum-in-2020/

Heiko Closhen, Entrepreneur

Top Cryptocurrency Faucets to Earn Free Crypto in 2020

Top Cryptocurrency Faucets to Earn Free Crypto in 2020

Cryptocurrency faucets are websites or apps that give users small amounts of cryptocurrency.

Like most crypto-related inventions, faucets started out with Bitcoin. It was an idea envisioned by Gavin Andresen, one of the most prominent Bitcoin developers, as a way to bring adoption of Bitcoin to a wider audience. The original faucet would give users a whole 5 Bitcoins, currently worth $35,000 but at the time barely worth anything. Nowadays faucets have evolved, and most are advertisement-based, paying users a portion of their earnings in crypto. Most cryptocurrency faucets involve the completion of captchas, but there are some exceptions where you can earn crypto either by mining, completing surveys, or playing games. It’s worth being clear here, faucets give away very small amounts of crypto. Getting rich using cryptocurrency faucets is like trying to fill a bathtub with water drop by drop. It will eventually happen, but how many years will it take if the water drops only fall 5 minutes apart from each other?

In this guide, we will be reviewing the best crypto faucets in terms of:

  • Claim amount – How much a cryptocurrency faucet pays and how easy it is to do so.
  • Timer – How long users have to wait between claims in order to meet withdrawal requirements.
  • Withdrawal conditions – Minimum withdrawal amounts and the fees charged so users can get the most on their wallets.

With this knowledge, it is possible to combine different faucets and earn different cryptocurrencies. This, in turn, can help create a steady flow of revenue, instead of a few single drops here and there.

Bitcoin Faucets

Cointiply

With a clean interface, Cointiply has become one of the staples in the cryptocurrency faucet world. It offers users the opportunity to earn on average 200 satoshis every hour. And you can do this through browser games, watching videos, pay to click ads, and offer walls. It also includes promotions like the loyalty program, giving you bonuses if you log in daily, referral program, earning 25% of all your referrals claims and 10% of their offer earnings. It also includes a 5% interest rate if you keep more than 3,500 satoshis on the website. The withdrawals are fast and reliable, requiring a minimum of 35,000 Satoshi before you can withdraw to FaucetHub and if you have 100,000 you can withdraw directly to your own Bitcoin wallet. Another interesting addition is the Cointiply social interface, allowing users to interact with each other.

Bonus Bitcoin

One of the oldest faucets still operating, Bonus Bitcoin allows users to claim an average of 24 Satoshis every 15 minutes. For those interested in earning a little more, this Bitcoin faucet offers a coin multiplier game and a section with surveys. The referral program is noticeably good as it guarantees a 50% lifetime referral commission. The withdrawals are connected to CoinPot, a cryptocurrency microwallet that, although reliable, is known for having some bugs. The withdrawal limit is 10,000 Satoshis and if you get to 50,000 the withdrawal will be feeless.

Bitcoin Aliens

Bitcoin Aliens is a cryptocurrency faucet with a twist. It is fully oriented towards gaming, more precisely mobile gaming. To get to work you simply have to install one of their games on your mobile device, either android or iOS, and start earning Satoshis while you have fun. Bitcoin Aliens has been around since 2014 and has a reputation of having a generous faucet, with the positive reviews on the apps stores of both Apple and Google corroborating the fact. The payouts are in 5-minute intervals and range from 135 Satoshi up to 9,000. The referral program offers 25% of the friends’ earnings and the minimum cashout is 20,000 Satoshis.

Blockchain Poker

This is one of the most unique Bitcoin faucets. It is a poker room, just like any other, but offers you 100 Satoshi to play. If your balance drops below 50 Satoshis, the faucet will refill up to 100 (limited to 3 minutes intervals). There are no registrations, everyone is anonymous, and you can play with Bitcoin, Bitcoin Cash, and Bitcoin SV. The minimum withdrawal is 100,000, rather high for a faucet, but you can get 8% of the rake generated by the friends you refer to the platform. Although the player pool is rather small and there isn’t much diversity of games, Blockchain Poker has everything else going its way. With an ambitious roadmap for 2020, it may be a matter of time before it becomes a top cryptocurrency faucet.

Dogecoin Faucets

Free-Dogecoin

This is a renowned cryptocurrency faucet, part of a much larger network of faucets. Free-Dogecoin pays users for solving captchas in 1 hour intervals. The minimum withdrawal is 65 DOGE with a withdrawal fee of 10 DOGE. The features that make Free-Dogecoin stand out are the potential to earn a 10% interest if you keep your funds on the website wallet and the fact that the funds are paid directly to the user's wallet without any intermediates.

Moon Dogecoin

Moon Dogecoin is also part of a larger network of crypto faucets. It allows users to claim small amounts every 5 minutes. If you don’t claim every 5 minutes the amount will slowly keep growing, allowing you to claim once a day or when you have a chance. This Dogecoin faucet also features a daily loyalty program, rewarding users who claim from the faucet in a number of consecutive days, and a referral bonus equal to 25% lifetime commission on all the faucet claims of your friends.

Allcoins

As the name suggests, Allcoins.pw is a multicurrency faucet. It has more than 29 cryptocurrencies to choose, including DOGE. Distinguished features include games (mostly luck-based ones, but it also includes mining and puzzle games), a referral program that offers 25% of the referred earnings, an exchange, a web mining service that rewards users for lending CPU power, and social media components that allow users to communicate through chat. The DOGE faucet can be used every 5 minutes and if you are lucky the reward can go up to 0.36 DOGE per claim.

TheCryptoFaucet

Another multicurrency faucet, TheCryptoFaucet offers users the opportunity to claim from 9 different altcoins with Dogecoin being ranked number 1. The referral program is seemingly generous, allowing you to invite friends and receive 50% of their claims. What also makes this faucet standout is the low withdrawal limits, making it possible to withdraw after 3 DOGE with a fee of 1 DOGE or wait until you have 200 DOGE to pay no fees.

Monero Faucets

Monero Faucet

MoneroFaucet.info is a simple and minimalistic faucet. It pays users XMR in exchange for solving captchas. The payouts are random (0.00001 up to 0.03 XMR) and can be claimed in intervals of 1 hour. There are no loyalty or referral programs and the website will take all your earnings if your account stays inactive for more than 30 days.

Free Monero

Free-Monero is a Monero faucet that’s a part of the same family as Free-Dogecoin. The features are similar except for the withdrawals. You need to have a minimum of 0.006 XMR in order to be able to withdraw and the fee for the network is 0.002 XMR.

Express Faucet

Express Faucet is a multi-currency faucet with a very professional look to it. It is one of the components of ExpressCrypto.io, a wallet and exchange service website. The wallets come with an encrypted algorithm and are ideal to keep the funds earned through the faucet. The faucet itself features a multi-currency faucet that allows XMR claims in 30-minute intervals, while also having an auto-claim feature that allows users to claim XMR with no effort on their part.

Claim Free Coins

Claim Free Coins is yet another multi-currency faucet with more than 19 cryptocurrencies to choose from. The faucet requires users to fill in a captcha and pay 0.00000005 XMR for every 5 minutes. The payments are done directly to FaucetHub so an account there is needed to withdraw funds. Another trait of this website is that it lists the top cloud mining services and also the top paying PTC (Pay to Click) websites.

Ethereum Faucets

Claim Free Coins

As stated above, on Claim Free Coins you can find 19 different cryptocurrency faucets. The captcha required will earn you 0.000002 ETH every 5 minutes. A FaucetHub account is required for withdrawals.

AllCoins

The AllCoins platform also includes an Ethereum faucet. It rewards users with 0.0000018 ETH every 5 minutes, but as stated above it is just one of the many ways AllCoins enables users to earn crypto.

Fire Faucet

Fire Faucet stands out immediately through its slick design. With a detailed control panel and a progression system, Fire Faucet allows you to earn crypto through captchas, surveys, and browser mining. The referral program offers 20% of all earnings claimed by the referrals. The withdrawals are available in 4 different currencies (Bitcoin, Ethereum, Dogecoin, Litecoin) with minimal withdrawal fees (in Ethereum the fees range from 0.004 to 0.002 ETH).

Litecoin Faucets

ClaimLTC

This website has been replaced by ClaimBTC but other than that nothing much has changed from the original. On this platform you earn tokens (TKN) through watching videos, completing surveys, installing mobile apps, visiting shortlinks, or even trying out your luck in the lottery, dice, and slot games. The tokens can then be exchanged for 6 different cryptocurrencies, Litecoin being one of them, and the withdrawal limit is very low in comparison to other faucets. The referral program offers 25% of the referral rewards.

Moon Litecoin

Another faucet of the Moon family. Users get paid to solve captcha and can earn in 5 minutes intervals. Same conditions as stated above. This one is, however, a Litecoin faucet. Using the platform users can earn a variety of cryptocurrencies.

TreasureBits

TreasureBits is a Bitcoin, Dash, Doge, and Litecoin faucet. It rewards users for solving captchas every 5 minutes, earning up to a maximum of 0.00002651 LTC. Other options to earn more are through games, offer walls, and a webminer. The payouts are done through FaucetHub and its usual fees. Note: CryptoCompare has no relationship with any of the above-mentioned faucets and this article is for informational purposes only. Our goal is to help newcomers start using cryptocurrencies without risking their own money.

Article Produced By
Antonio Madeira

https://www.cryptocompare.com/coins/guides/top-cryptocurrency-faucets-to-earn-free-crypto-in-2020/

Heiko Closhen, Entrepreneur

Bitcoin in Pre-Halving Rall Could Hit 13000 before May: Analyst

Bitcoin in Pre-Halving Rall, Could Hit $13,000 before May: Analyst

Those who are looking to exit their bitcoin positions may want to wait for four more months to extract better profits, according to a prominent crypto analysis company.

Trading signals provider TradingShot.com said in a note that bitcoin could be worth $13,000 in or before May 2020. It cited the cryptocurrency’s historical price behavior ahead of its halving – a pre-programmed supply cut event that is taking place in the same month – as the core reason behind the potential price rally.

Bitcoin 1W Chart

TradingShot noted that bitcoin is eyeing a break out from a so-called “high volatility zone,” as shown via an orange rectangle in the chart above. Meanwhile, the move upward could take the price into a “pre-halving triangle zone,” the top of which coincides with the $13,000 level. The analyst further drew a Fibonacci retracement graph to show its 78.6 percent level as a strong pullback level. Weeks before the second halving took place, the bitcoin price had reversed upon testing the 78.6 percent line. TradingShot predicted a similar price action in the current scenario, wherein the price would retest the 78.6 percent level. Again, it coincides with $13,000.10 BTC & 20,000 Free Spins for every player in

mBitcasino’s Winter Cryptoland Adventure!

“Before each Halving (2nd and 3rd) each top has been on the 0.786 Fibonacci retracement level: in 2016 that was a few weeks before the Halving, while on the current cycle it was during the Apri-June aggressive expansion. On both phases, the 0.382 Fibonacci held as Support.”

Supportive Fundamentals

Since October, the Federal Reserve is buying T-bills at a rate of $60 billion per month. The US central bank is also purchasing MBS and TSY maturity investments worth $20 billion, as well as tens of billions in overnight repos. Experts believe the ongoing expansion program could artificially inflate the Dow Jones, Nasdaq, and S&P 500 during the first quarter of 2020. Nevertheless, there might be a point when the Fed either slows down or pauses the swelling of its balance sheet by hundreds of billions of unbacked dollars.

Morgan Stanley, for instance, thinks the Fed would stop the pseudo-QE program in April-May this year, right around the time when bitcoin would see its daily supply rate cut from 1,800 BTC to 900 BTC. Combined with TradingShot.com’s technical take, the dual bullish indicators could push the bitcoin price to or even above $13,000. On the other hand, some analysts do fear that bitcoin could undergo a massive pullback. Willy Woo, who is a partner with Bitcoin fund Adaptive Capital, said the cryptocurrency could slip below $6,000. He though added that the dip would not hurt its long-term bullish sentiment.

Article Produced By
Yashu Gola

https://www.newsbtc.com/2020/01/29/bitcoin-in-pre-halving-rally-could-hit-13000-before-may-analyst/

Heiko Closhen, Entrepreneur

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Bad Actors Rent Hashing Power to Hit Bitcoin Gold With New 51 Attacks

Bad Actors Rent Hashing Power to Hit Bitcoin Gold With New 51% Attacks

Bitcoin gold, a cryptocurrency that forked from bitcoin in 2017, has again been hit by 51 percent attacks.Occurring Thursday,

according to tweets from the bitcoin gold team, two deep blockchain reorganizations (or reorgs) resulted in double spends of 1,900 BTG and 5,267 BTG, respectively. The losses amount to around $87,500 at current prices."We do not know if they successfully extracted any value from an exchange. Advanced risk control systems in exchanges make it likely one or both attacks failed," they wrote."Evidence" suggests the attacks used mining power obtained through mining power marketplace NiceHash, according to the team.

A 51 percent attack is conducted by actors who are able mine a blockchain network with more than half its hashing power, hence the name. This enables transactions to be rewritten, potentially diverting previously spent funds to a different address, as was the case here.Writing on GitHub over the weekend, James Lovejoy, lead maintainer of the vertcoin cryptocurrency and a researcher at MIT's Digital Currency Initiative, said the attacker mined blocks with an address that can be seen here.In another tweet, the bitcoin gold team said: "We are in contact with exchanges to offer security help and got positive feedback from them. The targeted exchange(s) have already taken effective measures."

While the exchanges were not named, Lovejoy said Binance has increased its withdrawal requirement for BTG to 20 confirmations from 12 since the attack.Based on NiceHash data, the estimate cost to the attacker of each reorg was roughly 0.2 bitcoin (around $1,700), he added – around the amount that would have been given out in block rewards. As such, even if exchanges manage to block the double-spent coins, the attack would have broken even.The is not the first time bitcoin gold has seen such an attack. In May 2018 around $18 million in the cryptocurrency was reportedly double spent.Interestingly, bitcoin gold's value has risen since news of the attack broke. At the time of writing, the price of BTG is around $12.20 – up 18.70 percent over 24 hours.

Article Produced By
Daniel Palmer

One of CoinDesk's longest-tenured contributors, and now one of our news editors, Daniel has authored over 750 stories for the site. When not writing or editing, he likes to make ceramics. Daniel holds a small amount of BTC

https://www.coindesk.com/attackers-rent-hashing-power-to-hit-bitcoin-gold-with-new-51-attacks

Heiko Closhen, Entrepreneur

Ukraine Plans to Track Suspicious Crypto Transactions Above 1200

Ukraine Plans to Track Suspicious Crypto Transactions Above $1,200

Ukraine’s financial watchdog intends to track crypto transactions exceeding $1,200,

according to the head of the country’s Ministry of Finance, Oksana Makarova.Makarova discussed crypto in an interview with Ukrainian news outlet MC Today, commenting on a law signed last month by the country’s president, Volodymir Zelensky, which strengthens Ukraine's anti-money laundering practices in accordance with the latest Financial Action Task Force recommendations around cryptocurrency transactions.For the first time, Ukrainian anti-money laundering law includes crypto as an asset to be monitored, among others. The threshold for triggering the scrutiny process is 30,000 Urkainian hryvnia (UAH), or US$1,200. 

“If exchanges, exchangers, banks or other companies make payments in cryptocurrencies worth more than UAH 30,000 in equivalent, they must verify such transaction and collect detailed customer information,” Makarova said in the interview. “The customer must provide comprehensive information about the origin and destination of their virtual assets.”If any such operation seems suspicious to the payment service provider, the firm is required to report the transaction to the financial watchdog, the State Financial Monitoring Service (SCFM). The agency also has the capacity to block suspicious transactions and even confiscate cryptocurrencies originating from illicit transactions, Makarova said.“SCFM has access to an analytical product that allows investigations into the origins of crypto-assets and their uses,” Makarova said. “It is impossible to stop operations now, but it is possible to block crypto wallets and remove illegally obtained crypto assets. This can be done by accessing the crypto's private keys as a result of complex investigations.”

Cryptocurrency as an asset class is yet to be defined by the Ukrainian law. Makarova said a working group with participation from several national agencies is expected to come up with a new regulation for virtual assets in Ukraine “over the next four months.” A bill suggesting a 5 percent tax on crypto revenue was already introduced to the Ukrainian parliament in November.There is no official statistics of how much crypto is currently circulating in Ukraine, but Makarova believes the volume is “quite high,” though most money laundering in the country is still conducted with cash.“I think that our criminals and corrupt officials are quite conservative and still keep the funds mostly in cash,” Makarova said. “Therefore, in the legalization of cryptocurrencies, I see opportunities for the development of this industry in our country, not a threat.”

Article Produced By
Anna Baydakova

Anna writes about blockchain projects and regulation with a special focus on Eastern Europe and Russia. She joined CoinDesk after years of writing for various Russian media, including the leading political outlet Novaya Gazeta. Anna owns a fraction of ETH.

https://www.coindesk.com/ukraine-plans-to-track-suspicious-crypto-transactions-above-1200

Heiko Closhen, Entrepreneur

Russian State-Run Tech Firm to Decrease Spending on Blockchain by 50

Russian State-Run Tech Firm to Decrease Spending on Blockchain by 50%

Russian government-backed corporation Rostec intends to cut spendings on the blockchain development in the country by at least 50%.

According to Rostec’s roadmap, the organization is planning to spend 28.4 billion rubles ($453.2 million) on the development of blockchain technologies in Russia by 2024, instead of initial 55 billion ($877.8 million) to 85 billion rubles ($1.3 billion). The news was reported by domestic news outlet Kommersant on Jan. 27. The corporation detailed that the introduction of blockchain tech into the product labeling system will require 650 million rubles ($10.3 million), into healthcare system 1.17 billion rubles ($18.6 million), of which 575 million rubles ($9.1 million) will be allocated to the tracking system of counterfeit and pharmaceuticals consumption. The implementation of blockchain in the housing and utility services will ostensibly require 475 million rubles ($7.5 million).

Revision of blockchain’s potential effect on economy

Rostec has revised their assessment of the potential direct and indirect economic effect of blockchain development in the country, whereas earlier versions of the roadmap suggested significantly larger investments in the technology. The downgraded forecast of the economic effect is ostensibly connected to the change in the macroeconomic situation. Rostec’s spokesperson stipulated that currently there is a change in the perception of the technology, “a self-cleaning of the market from copy projects that do not have a development strategy and a certain market niche,” while the Russian market in these conditions is developing most smoothly and is choosing the path of “less risky development.” The corporation has sent the document to the Ministry of Communications and the Analytical Center for the government of Russia for approval.

Russia’s turn to blockchain

Worth noting, the move comes in the wake of the appointment of the new Prime Minister of the Russian Federation, Mikhail Mishustin, who called on the country to prioritize development of the digital economy. In the meantime, Russia has implemented a number of blockchain projects in various sectors. Last December, Russia’s national energy grid operator Rosetti began testing a blockchain solution for payments in the retail electricity sector. The project aims to automate and make transactions between energy producers, suppliers and consumers more transparent. The country’s mining and smelting giant Nornickel also commenced testing its platform for digital metal tokens in collaboration with physical commodities trading group Trafigura Group Ltd., metals finance and logistics firm Traxys SA and materials technology and recycling group Umicore SA.

Article Produced By
Ana Alexandre

Total change in her career took Anastasia into the world of analytics and business information as a researcher and translator in 2010. Some time later she got into FinTech, a dynamically developing segment at the intersection of the financial services and technology. Ana joined Cointelegraph in September 2017.

https://cointelegraph.com/news/russian-state-run-tech-firm-to-decrease-spending-on-blockchain-by-50

Heiko Closhen, Entrepreneur

Bitcoin Breaks 7-Month Downtrend But Must Clear These Hurdles to 10K

Bitcoin Breaks 7-Month Downtrend But Must Clear These Hurdles to $10K

The price of Bitcoin (BTC) found strong support at $8,200 last week, after which it started to rally toward $8,800 earlier today. Alongside with that, the total market capitalization of crypto found a support at $215 billion and starting to look bullish. Will this mean that the correction is over, and crypto is trending upwards?

Bitcoin still in an uptrend since the low at $6,500

Bitcoin is still trending upwards since the low at $6,500, as previous resistance zones have become support. A recent example is showing a bounce on the green area, which is the $8,200 level. This type of bullish support/resistance flips is a common occurrence in an uptrend market. A break below $8,200 would have demonstrated weakness, as that level would not have provided enough buying pressure and support. Losing such a level would usually have been followed by a continuation downwards. An example is found after the push to $10,000 in November 2019. The chart is also showing a clear breakout from the 7-month downtrend. A retest was done at $7,600, after which the price of Bitcoin rallied towards $9,200 for temporary resistance.

The 4-hour chart of Bitcoin is showing a healthy support/resistance flip at $8,200, after which price broke through the $8,500 resistance. Currently, the price of Bitcoin is facing the next resistance at $8,800. However, it’s quite unlikely to see an immediate breakthrough at this level as the indicators on smaller time frames show exhaustion of this upwards move. Additionally, some significant resistances are shown on the chart, i.e. $9,000 and $9,200-9,400, which are two hurdles to overcome if the price of Bitcoin wants to continue moving upwards. On the support side, a retest of $8,500 looks quite healthy for confirmation of new support. Range-bound movements are now likely to happen if price can’t break through $8,800 or drop below $8,500.

Total market capitalization flips a crucial level for support

The total market capitalization of cryptocurrencies is showing an essential bounce from the blue zone (level around $217-218 billion). A retest there was quite healthy as anticipated in a recent article. This retest is now completed and shows intense buying pressure as the total market capitalization has already rallied up to $238 billion. This retest also indicates confirmation of the uptrend with the total market cap breaking the 7-month downtrend as well. The first hurdle to overcome now is the $247 billion level. If that is broken, continuation towards $270 and $300 billion is likely to occur.

Altcoins showing more strength than Bitcoin

The total market capitalization chart of altcoins is looking healthy The market cap rallied from $52 billion to $80 billion. Only a slight retracement occurred to $71 billion, which means that it is stuck in a narrow range. If we check the rest of the chart, we can spot many tests of the $80 billion level in recent months. Around three tests have happened prior to this latest one, which means that the resistance should become weaker. Remember, the more times a resistance gets tested, the more exhausted sellers will get, and the weaker a resistance becomes. On the other hand, this also happens with support zones. The $6,000 support of Bitcoin in 2018 was tested many times before it broke down. Given that these tests of the $80 billion level occurred quite frequently, a breakout to the upside is the most likely scenario at this point, meaning that the altcoin market cap could rally towards $120 billion.

The bullish scenario for Bitcoin

The most bullish scenario would be a clear breakout of $8,800 and a continuation from there. However, as stated earlier, I find it unlikely to see such a move occur in one go. A retest and consolidation would be more likely including a likely retest of the $8,500. This is healthy and would be almost required before the price of Bitcoin can continue to face higher resistance levels. If Bitcoin can hold the $8,500 area for support, I see a breakthrough of the $8,800 and $9,000 as likely, after which $10,000 will become the primary target. Moreover, clearing $10,000 could bring the price of Bitcoin towards $11,000 as well.

The bearish scenario for Bitcoin

Typically, the bearish scenario has a similar pattern in the beginning, as BTC needs to be rejected at the $8,800 level. However, the difference is in the subsequent pattern. If the price of Bitcoin is to make lower highs with weak bounces, the downward trend is likely to resume. If this occurs, I’d be aiming for bearish retest (support/resistances flips) of the $8,500 level as a potential short opportunity. The main target would then be the $7,600 area. But first, the price needs to be rejected at $8,800-9,000 to get these scenarios going. Overall, the $8,100 support/resistance flip doesn’t say that we’re bearish at this point. Especially, since that price has broken at a 7-month downtrend.

Article Produced By
Michaël van de Poppe

Michael is a full time day/swingtrader in cryptocurrencies, based at the Amsterdam Stock Exchange & interested in everything related to blockchain in combination to the current financial system. Alongside with that, he’s also almost finished his Economics bachelors degree at university.

https://cointelegraph.com/news/bitcoin-breaks-7-month-downtrend-but-must-clear-these-hurdles-to-10k

Heiko Closhen, Entrepreneur

Power to the seniors