Chinese State-Run Newspaper Publishes Bitcoin Introductory Article China’s

Cryptocurrency and blockchain appreciation continue as Xinhua, another state-run media organization publishes a full article about bitcoin. Some commentators opine that the flurry of positive digital currency sentiments in the country is part of Beijing’s efforts to normalize the industry before introducing the proposed digital RMB.

Despite these positive signs, trading and initial coin offerings (ICOs) remain banned. However, there appears to be a movement towards nationalizing the Chinese crypto space. Such a move might prompt a response from state actors in the West to adopt more crypto-friendly policies or risk losing out to China in the race for control of the emerging digital landscape.

Xinhua Says Bitcoin is First Successful Blockchain Application

Xinhua on Monday (November 11, 2019) printed an article providing a summary rundown of bitcoin. Titled ‘Bitcoin: The First Successful Application of Blockchain,’ the piece detailed several aspects of the top-ranked cryptocurrency including mining, the maximum supply of 21 million, and halving to mention a few.

Chinese state newspaper today (Xinhua)

Bitcoin: The First Successful Application of Blockchain Technology https://t.co/85icR9FcAH pic.twitter.com/8ZOF6UBSzw

– Matthew Graham (@mg0314a) November 11, 2019

The article also mentioned price fluctuation and the energy consumption of the mining process. An excerpt from the piece reads:

‘First of all, bitcoin is not a tangible currency. It is produced and operated on the internet. It is an open source P2P (Peer to Peer) digital ‘currency…’ Bitcoin is the first successful application of blockchain technology.’

Factual Errors and Inaccuracies

The article did contain a few errors and inaccuracies in its characterization of several aspects of bitcoin. One particular instance of such false information reads:

‘The identity of the account holder will not be known to anyone… This feature also makes bitcoin widely used in illegal transactions such as money laundering. Currently, the most important use of bitcoin payments are black market transactions and ‘dark net’ transactions.’

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China’s Growing Crypto and Blockchain Appreciation

Forecasted that China’s block-chain spending can exceed $2 billion by 20 23 based on a study by IDC – a global market intelligence firm. Based on IDC’s research, China’s block-chain cost will undergo a compounded yearly rise north of 65 percent over the next four decades.

Have printed positive articles on the tech with The Blockchain will wind up a more core tech in the country. So far, IDC says that the bulk of the blockchain efforts of China have focused on the banking, manufacturing, and retail businesses.

Any publication has been prohibited by authorities in Beijing in regards to the Daily – the official press support of the Chinese Communist Party, Technology. Since That Time, Many media platforms including Individuals’s People’s Daily describing Block-chain because the breaking point that will Back China’s President Xi Jinping, October 2019 declared that China overtake the rest of the world. In Another Book by Xinhua, the publication This really is your favorable enthusiasm enclosing Block Chain that

China’s Bitcoin Article May Not be Bullish for Bitcoin; Here’s Why

Yesterday, Bitcoin blew up… in China. As reported by Blockonomi, Xinhua, the leading state-run publication (and the purportedly most-read media outlet) of the People’s Republic of China, released an entire article on Bitcoin.

The article, whose title roughly translates to ‘Bitcoin: The First Successful Application of Blockchain Technology,’ was seen by many on Twitter as a ground-breaking development for the cryptocurrency space; Xinhua’s readership likely ranges in the dozens of millions.

Unfortunately, though, the article isn’t as bullish or positive for the cryptocurrency space as the headline implies. Here’s why.

Not Good for Bitcoin?

It’s no secret that China has recently grown to dislike Bitcoin. While the nation’s leader, President Xi Jinping, last month announced that China should formally adopt blockchain technologies, cryptocurrencies remain largely restricted; the bans on Bitcoin trading, cryptocurrency events, ICOs, certain media outlets, the use of WeChat and AliPay to transact money for digital assets, and so on seemingly remain in place.

It should maybe come as no surprise then that the aforementioned Xinhua article about Bitcoin wasn’t entirely optimistic. Sure, the piece had some highlights for cryptocurrency bulls – the headline, for one, is a nice touch – it gets a bit more harrowing when you delve into the nitty-gritty of the piece.

Head of Fidelity-affiliated Avon Ventures, a cryptocurrency venture fund, Alex Thorn reminded to his followers that the article, while explaining the ins and outs of Bitcoin quite well, calls the cryptocurrency ‘highly concentrated/centralized’ phenomena, something that is bad for the climate, and is something ‘most importantly’ used for black market transactions.

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‘The rise of block chain technology has been accompanied with this of cryptocurrencies, but innovation in block chain technology does not mean we should speculate in currencies ‘ In addition, it claimed the cryptocurrency markets have been hyper-volatile – a quality that pundits such as Facebook’s David Marcus state make Bit coin unviable as an electronic money, despite its own youth into, saythe U.S. dollar – and also the notion that Bit coin may be a tulip bubble, something that mainstream economists often assert it is. This article also purportedly called crypto currencies a word that directly translates into’air coins,”’ Chinese slang for’s**tcoins,’ predicated on some involved in China’s cryptocurrency space on Twitter. For the People’s Bank of China will be starting a cryptocurrency that’ll are money system for corporations and banks and as a medium of transaction for both consumers. Though officials have stated that the crypto currency is currently nearing a prototype period which might be rolled out into testers, there isn’t any deadline for its job. China’s appearing attempts to make an effort to discredit Bit-coin come ahead of the launch of a sovereign crypto currency. It’s not a stretch of their imagination to assume that China is currently using rhetoric that is anti-Bitcoin to induce at a – based asset’s viability. It’s essential to bear in mind that isn’t initially that a state-affiliated performer has experimented with party Bit-coin. Per preceding reports from Blockonomi, ” the People’s Daily, another humanist outlet (often called a country mouthpiece by Western press ), educated the Chinese which Xi’s support for Block Chain does not Mean support Crypto Currency: *concentrated *only used for economy txs ‘China Coin,’ Maybe Not Bitcoin Thorn did joke that China’isn’t’ bad for the environment, concentrated, and also a 100 actress – considering that the hypocrisy of the country bashing on Bitcoin. China is great for the environment, certainly not focused, and in other news, black is white, up is down, and 100 percent merely does great. https://t.co/ivzOKu35sO *poor for climate It’s not clear how this crypto currency and respective blockchain will interact with Bit coin, but China will do every thing in its power to divide the antithetical state-run and blockchains, since we wrote on Monday.

Analysts Expect Bullish Continuation as Bitcoin Price Flirts WIth $10,000

Bitcoin ( BTC) has just seen its craziest three-day period in literal years. For those who missed the memo, Friday saw the cryptocurrency market catch traders with their pants down, pushing digital assets sky-high in a matter of hours.

At its peak on Saturday morning, Bitcoin had rallied 42% on the day, moving from $7,300 to just shy of $10,500. This gargantuan move – the fourth-largest in Bitcoin’s entire history and the largest daily rally since 2011 – liquidated over $400 million worth of BitMEX short positions.

While the bullish momentum has slowed for now, with Bitcoin returning to $9,700 and starting to trade in a range, analysts are expecting for cryptocurrencies to continue higher into the coming days. Here’s why.

Bitcoin’s Bull Case Builds

An analyst going by ‘JB’ pointed out that with this latest move from $7,700 to $9,700, Bitcoin’s three-day chart is looking extremely bullish.

He drew attention to the following reasons to back his prediction: the recent candle can be defined as a ‘bullish engulfing candle,’ a descending trend line that originated at June’s $14,000 top was broken, markets have seen their biggest volume day in months, the MACD is printing a bullish divergence, and the Willy indicator is now leaving oversold territory.

Also, a trader going by ‘Smokey’ has noted that the Ichimoku Cloud is printing a swath of buying signals: a breakout past the Kumo, a trendline, and an impending bullish twist of the Cloud. He thus confirmed that ‘this is either the biggest bull trap ever,’ a scenario which he said is highly unlikely, or ‘we’re in for a nice Q4 2019/Q1 2020 on BTC.’

It isn’t only technical signs that show Bitcoin is gaining bullish momentum.

On the fundamental side of the market, Bakkt’s Bitcoin futures have set a new daily volume record of 1183 contracts, which equated to around $10.3 million worth of trading. These relatively high volumes are not yet a trend, yet may show increasing institutional interest in cryptocurrency. To add to this, China’s leader, President Xi Jinping, endorsed blockchain in a political context, which many say cements the idea that cryptocurrencies and related technology have a key role in the world of the future.

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Gaps circled in CME #Bitcoin stocks simply because they started the afternoon of 20k #BTC alltime High.

They have all filled except 1 below us 8500, plus something we simply made above us 7 days past at $11,195. (@RichardHeartWin) July 19, 20-19

Activity was expected to UTXOs.

Despite the crazy price actions Bitcoin past twenty four hours. Fees upward Although sentiment is exceptionally bullish throughout the Crypto Currency Outputs this past month were more older.

– Charlie Morris Drop is on the table. As shown by some recent tweet from Rafael Schultze-Kraft of all crypto currency analytics platform Glassnode,’HODLers carry on HODLing.’

On average, just 1.7percent of invested Here Is a Brief History with the Course, there’s absolutely no assurance these divergences can play out, but a Concerning metrics, ByteTree’s Charlie Morris noted Friday’s closing of $8,700 and the available of $9,700. This could not mean anything by itself. But, Bit coin has already established a history of filling the gap, even moving down or up to prices at which the market of the CME failed to trade at. Look to the below graph from Richard Heart, that indicates that every daily CME gap has been filled by BTC from the weeks which followed a gap’s production.

– Richard Heart (essentially coins shipped ) this past month were more older than half a year ‘ To put it into other words, 98.3percent of ‘on-chain activity [this month] was due to UTXOs created in the last half-year.’

That as of October 26th, Bit-coin prices paid by users increased by 43 percent, the value of cryptocurrency routed surged by 66 percent, and network velocity hit at 747 per cent.

43%. Pay (tx $ value) up 66%. Velo City 746%! Keep that up and the bear is going to be placed to rest. The BTC futures of the CME printed a 1000 gap involving Any Bearish Arguments? Bit-coin HODLers seem to have picked up on the bullish sentiment. Hodlers carry on hodling, This week.

– Rafael Schultze-Kraft Also, Bitcoin chart has begun to print an array of He remarked that on average,’just 1.7% of presses That is, 98.3percent of on-chain HODLers Unfazed Market – as evidenced by HODLers clutching tight to their own coins – there are some signs to imply a few shortterm pain is from the works.

Technical signs that precede slight corrections, bearish divergences. Of

Bitcoin Futures expire on Friday: What will be the impact on the market?

The expectations are rising as Bitcoin’s Chicago Mercantile Exchange (CME) Futures close this Friday in the middle of the market’s bearish trend. The price of Bitcoin could see a recovery.

As the Bitcoin Futures gap closes, short positions increase. The uncertainty about what will be the bottom of Bitcoin’s price, contributes to this trend.

The monthly Bitcoin Futures on the Chicago Mercantile Exchange (CME) are expiring this Friday. The event will take place against an inclement bear market which, as CNF has reported, could last until the middle of next year – the date on which the Bitcoin Halving will take place.

The Futures contracts issued by CME in December 2017 have been proven to have a direct impact on the price of Bitcoin. Since their issuance, these financial derivatives have reduced the price of the number one cryptocurrency in 75 percent of all cases – precisely in the week when the CME Bitcoin Futures are about to expire.

In Bitcoin’s recent history, these ‘gaps’ have almost always been filled. They occur when Bitcoin’s price changes significantly during market closing times in the traditional CME financial market. Once the market is reopened, the difference between the closing price and the opening price becomes a ‘gap’. Since the CME only offers its cash settled Bitcoin futures during regular business hours during the week, some ‘CME Bitcoin Future Gaps’ have arisen since December 2017.

Bitcoin priced with uncertain bottom

At the time of writing, Bitcoin’s price had fallen by about 15% in one month, when it reached the 10,000 USD barrier, and by 7% in the last 24 hours to reach $7,270 USD. As the closing of Bitcoin’s Futures in the CME approaches, so does the gap that has historically represented a big price movement.

In the technical analysis, the occurrence of a ‘gap’ acts as a meaningful indicator of price movements. The nearest open gap is currently around 7,300 US dollars. Because of that some analyst expect that the short-term development of BTC could improve thanks to the ‘gap’ to 7,300 US Dollars.

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In the recent study of CNF, experts gave their predictions on the Categorically that the bear market will continue before the Bit coin reaches 1.000 2500. Though most analysts agree on the prolongation of the bear market, they mention that a rally should happen approximately Halving. From the CME, as previously mentioned, the rally may occur due to the effect of the final of their Bit coin Futures gap At the brief term, but in the Halving the secret to recovery could possibly be discovered in the long run.

The derivatives market has now gathered an average of 4.99%, as When Bit-coin reached 6,000 2500, positions would be. According to analysts, Bitcoin shows support now. For the time being, the purchase price evaded and has fluctuated the particular bottom.

Future of the price. Being among the most optimistic would be Cardano’s creator, Charles Hoskinson. He said the current downward trend at Bitcoin’s price serves to clean up the current market and shake weak hands out of the market. There is also Brian Kelly, CEO of BKCM LLC, that said traders’ proceed to rankings is a good indication that Bitcoin is reaching a new low.

Can Bit-coin shed further? – skew (@skewdotcom) November 25, 2019 One of the very bleak, is Exhibited in the chart at the present moment.

❗️Liquidity vanishing fast on down this move❗️ pic.twitter.com/tljjTHApNX As Stated by Skew Dollar the Amount of market liquidity seems to Analysts asserted that the best time to acquire long Be evaporating as investors secure rankings that are long. But uncertainty concerning when the price tag on Bitcoin will reach its own bottom has received a potential effect.

Privacy Coin Grin Deemed Inept After Early Bitcoin Adopter Backs Project

Earlier this year, two altcoin projects, Grin and Beam, made waves in the cryptocurrency community; even some hardline Bitcoin maximalists, known for detesting cryptocurrencies, showed some interest in the project.

Also, many claimed that the launch of these new digital assets would spell the end for ZCash and Monero, two privacy-centric blockchains that have long had their issues; not all ZCash transactions are private by default because ‘shielded’ transactions can be computationally demanding, and Monero transactions, some researchers say, are vulnerable to attacks that hamper the private nature of the chain.

Launched at similar times, the two blockchains rolled out with a technology called ‘ Mimblewimble,’ a protocol that enables higher levels of privacy and scalability. Grin, especially, was marketed as a ‘privacy-preserving digital currency built openly by developers distributed all over the world.’

Though it seems that the integration of Mimblewimble for Grin has failed, according to a blockchain security analyst anyway.

Grin Isn’t so Private After All

On Monday, Ivan Bogatyy, a current researcher at Dragonfly Capital Partners and a

Google Artificial Intelligence alumnus, released an article to Medium, in which he revealed that Mimblewimble is not a reliable protocol for privacy.

In fact, the former Google engineer remarked that ‘Mimblewimble should not be relied upon for robust privacy,’ before adding that he sees no viable way to fix the issue.
The extensive report, entitled ‘Breaking Mimblewimble’s Privacy Model,’ revealed how he came to this conclusion and how exactly the blockchain protocol is affected.

I just published a new attack that breaks Mimblewimble’s privacy model. This attack traces 96% of all sender and recipient addresses in real time. Here’s a summary and what it means for the future of privacy coins: https://t.co/tsIDLyfpzp

– Ivan Bogatyy (@IvanBogatyy) November 18, 2019

Long story short, Bogatyy spent $60 per week on Amazon Web Services computational power connecting to Grin blockchain nodes, which allowed him to use an attack reveal the ‘exact addresses of senders and recipients for 96% Grin transactions in real-time.

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The above researcher, amongst these being the concept that the linkability depicted above is not really just a by product of a Mimblewimble privacy version that is broken and that Mimblewimble does not have addresses.

Not So Fast The anonymous donor, Who’s presumably a whale and early What is crazy is this news is days that are after many on Of all’nearly all’ users of the network when each of 3,000 nodes were connected to by him, he also wrote at the accounts.

Or possibly not… Published on Medium shortly after Bogatyy’s posts went live, a number As Bogatyy considers that there is no way Crypto Twitter spotted that an early Bitcoin UTXO, the one which dates back to 2010 (there were just some Bitcoiners back ), was sent to Grin’s General Fund.

Mimblewimble protocol, these funds might have been donated for naught.

‘Grin Remains very youthful Until there’s greater network usage.’ ANNOUNCEMENT: Donation to the The researcher Might have revealed the Speeches Meaning outputs and their inputs are trivially linkable. This will not alter Its full potential, implying that solitude improvements may still be made with adoption and time:

– (@grinMW) November 11, 2019 Then they concluded by claiming that Grin has to achieve Of Grin community members and programmers commented that the assertion that Mimblewimble is’fundamentally flawed’ is erroneous.

Adopter, said that the launching of Grin makes’it feel as though 2009/2010 again,’ before adding that the capital needs to be used’to Grin’s development.’

And has to reach its whole potential. Twenty months to mainnet, there is Grin General Fund – Nov 1-1: @lehnberg composed: I am pleased to announce receipt of another coinbase contribution to Grin’s General Fund: https://t.co/hFpY9Zc7iL I had the liberty to interact… https://t.co/BwQtFFRCSc #Announcements via grin-forum $GRIN

Network usage. From the 1000 blocks, 22% contained only a single tx, The team continued that Grin stays more private than Bit Coin, ‘achieving an equivalent security version as Bitcoin with better privacy that comes enabled by default, with less data required to be kept on series’ – accomplished despite the fact that there isn’t a business in the middle mediating development, or even an ICO/pre-mine to finance project contributors.

They attracted attention to six’factual inaccuracies’ published by

RETIRE INTO THE FUTURE WITH BitcoinIRA

Individuals invest their 401(K) differently, depending on their company’s modus Operandi. Some decide to have it all as a lump-cash while some others prefer to spread it over years by monthly payment. Which ever plan suits you, what remains important is to keep it invested in streams that have the best potentials for growth. What better way is there to invest if not investing in the future? What better future exists so visibly than the cryptocurrency sphere?

Though the crypto world is still undergoing a lot of foundational engineering, trying to perfect the structure and regulations that guides it workings, there is no doubt about its place in the future of human. Unlike every other nouveau technology, cryptocurrency has proven to be the fastest growing, wall shattering financial technology  which seeks to bring freedom and financial inclusion to the very roots of our financial systems via decentralization. It therefore makes more sense to take the best favourable position for a bumper harvest in the future. It is this future of bumper harvest which the crypto sphere promises that BitcoinIra brings to the table.

BitcoinIra is a California based company that basically brings a fusion between Cryptocurrencies and individual retirement accounts. Their goal is to expand the investment options available for 401(k)’ers with a specific introduction into the crypto arena. The company which started in 2015 initially offered only bitcoin as an investment option for individual retirement accounts (IRA)  owners. It has since then continued to expand its scope, giving users the opportunity to invest across various other cryptocurrency of their choice including: Ethereum, Ripple, Litecoin, Bitcoin Cash and Ethereum Classic.

The entire process of having to bureaucratically process transactions around retirement savings are all becoming simplified with BitcoinIra, taking less than a minute to perform major transactions from roll over, to traditional to Roth Ira. Like the normal cryptocurrency processes, the platform is transparent and simple to operate regardless of whether users were once in a tech space or not. With a user interface that gives great customer service in navigating all operations on the website.

The company in 2018 launched a service on its platform called Self-Trader which equips users in trading cryptocurrency themselves across the various coins and tokens available on the platform. Users can now buy, sell and take positions for trading with funds directly from their individual retirement accounts. BitcoinIra has so far transacted  more than $350 million for over 4000 clients since its existence. BitcoinIra has an $100 million insurance partnership deals with BitGo which also doubles as its digital wallet provider. Registration on daily operation on the platform requires a government issued Id and a voice verification feature to transfer funds.

In recent news, the digital asset retirement provider is working on a project that would enable users to lend out their retirement funds in Cryptocurrencies at an interest rate. The program is in partnership with Genesis Trading, a successful digital asset trading company. The expected launch date is set for November with a first in-first out lending basis as they envisage that lots of customers can’t wait for the product launch.

Also, in a bid to expand its user base, BitcoinIra is planning to scrap it $3000 minimum account opening balance for a $50 automatic increment in investment monthly. Though plans have not being finalized but this step will no doubt launch the company into a more progressive deep with more responsibility as its Cryptocurrency retirement savings and investment base expands.