🗞 Daily Crypto News, November 16th 💰

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”Ludicrous” – Analysts Debate How Much Power Is Consumed per Bitcoin Transaction
Canaccord: ICOs Could Become Commonplace
Blockchain-based Secure Online Voting System Showcased
'Big Four' Firm KPMG Joins Blockchain Advocacy Group
Governments Show Interest in Firms Analyzing Monero and Zcash Transactions
BTC Trading Update by @cryptopassion

🗞 ”Ludicrous” – Analysts Debate How Much Power Is Consumed per Bitcoin Transaction

In recent months, numerous media outlets have claimed that the power used to conduct a single bitcoin transaction is the equivalent of that required to power an American home for over a week. The exact energy output that each bitcoin transaction consumes is unknowable, due to the varying efficiency of the hardware employed by miners. Despite such, several analysts have attempted to estimate the power consumption required to process bitcoin transactions.

🗞 Canaccord: ICOs Could Become Commonplace

Initial coin offerings (ICOs) could one day come to be seen as similar to initial public offerings (IPOs), according to a new report from financial services firm Canaccord Genuity.

Canaccord's analysts wrote:

"If, over the next [one to two] decades, the coin market evolves to a more mature state such that one day most coins are attached to well-established companies and trade with sufficient liquidity so as to reduce risk, we believe the gap between ICOs and IPOs will look fairly small. We are obviously not there yet, so in our opinion, while ICOs may hold a great deal of promise, they have to be viewed as extremely risky."

🗞 Blockchain-based Secure Online Voting System Showcased

In a statement at Polys’ website, the company claimed that Blockchain is the missing link in the architecture of an effective and secure online voting system.

“[Online] voting imposes extremely stringent requirements on the security of every aspect of voting. We believe that the Blockchain technology is the missing link in the architecture of a viable online voting system.”

🗞 'Big Four' Firm KPMG Joins Blockchain Advocacy Group

Accounting giant KPMG has become the latest member of the Wall Street Blockchain Alliance (WSBA).

Joining the non-profit trade association as a corporate member, KPMG will assume a seat on its board of directors, a press release stated today. Eamonn Maguire, global leader for KPMG’s digital ledger services, said in statements that blockchain is "maturing" with regard to its production phase and has the future to "dramatically impact" the financial industry.

Ron Quaranta, Chairman of the WSBA, said:

"We look forward to collaborating with them [KPMG], as our global members and indeed the world, begin to implement blockchain innovations across financial markets and beyond."

🗞 Governments Show Interest in Firms Analyzing Monero and Zcash Transactions

We recently noted that the US government is increasingly tracking Bitcoin users with the help of the Chainalysis firm. It turns out there is growing interest in conducting Bitcoin surveillance globally. Moreover, there is an increasing need to track privacy-centric cryptocurrencies such as Zcash and Monero. That may prove to be more difficult than originally assumed, though.

BTC Trading Update by @cryptopassion

We are till now following perfectly my predictions to go test the previous TOP :

So my prediction stays the same. We should go test the red line that I traced which is the previous top level. It is possible that we do a little consolidation before because we already did a nice UP yesterday. In case of consolidation, we must stay upper than the support line in green.

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