- Bitcoin Course Challenge Week 8!
- The 10 Biggest Myths about Cryptocurrencies - Part 4!
- TOBAM announces European Bitcoin Investment Fund!
- Coinlend.org: Generate automatically, easily and securely Interest on Bitcoin, Altcoins and US Dollars!
- Mymoria: Paying a Funeral with Bitcoins!
- The Government of Bermuda's launches Cryptocurrency Task Force!
- Bitcoin Course Analysis for Week 47/2017!
🏆BITCOIN COURSE CHALLENGE Week 8🏆
The RULES are simple, write the Bitcoin Price USD for the next Sunday 13:00 UTC time and your Bitshares or OpenLedger account name ( like this $ 4,459.44 danyelk1 ) in the comment section of this post. I will accept your answers till Friday 13:00 UTC time.
The one who has the right Bitcoin price or has the closest guess will be the WINNER.
The WINNER will be announced next Sunday.
If you are new with Whaleshares please click HERE!
If you are new with Hairshares please click HERE!
To download Bitshares or OpenLedger wallet please click HERE!
For more information and questions about Whaleshares and Hairshares go to the WHALSHARES DISCORD CHANNEL!
Have fun and show us your Bitcoin forecast skills
☘ Best of luck to all of you ☘
BIG THANKS go to @akrid & @officialfuzzy who make that all happen by sponsoring the BITCOIN COURSE CHALLENGE!
@kid4life you are the WINNER of the BITCOIN COURSE CHALLENGE Week 7!!!
In the series "The 10 Biggest Myths About Cryptocurrencies", I take a closer look at the top 10 claims about cryptocurrencies and their opportunities and risks. In doing so, I will daily explore a new myth and check it for accuracy.
Myth 4: The storage of cryptocurrencies is cumbersome and risky
A common concern expressed about Bitcoin and other digital currencies is that it is not physical money in the traditional sense - people lack the sense of having money in their hands and being able to spend it. Instead, cash that you keep in your own wallet gives you the security of having money and having it freely available.
The way the money is stored thus plays a key role for its owner, especially with regard to availability and security. This is precisely where the criticism of many potential investors comes in, who lack exactly these elements of cryptocurrencies. Instead, the storage of cryptocurrencies are confusing, make unnecessary efforts and are also not very safe.
Now, one can not completely disagree with these arguments, which are presented primarily from the point of view of non-crypto-affinic people or newcomers. For someone who deals with the topic for the first time, the various storage options in virtual purses (so-called wallets) can quickly seem so confusing. You can lose track of where to keep your money now.
In any case, it is advisable to subsequently transfer the acquired cryptocurrencies to a wallet and not leave them at the stock exchange. That's the only way to get hold of your Private Key, which is necessary to gain access to cryptocurrencies. A private key is generated at each new address. This must be kept very safe and secret, otherwise unauthorized persons can get access to the coins in the wallet.
When choosing the wallet, it should be noted that there are several types of secure crypto-currency storage. While an online wallet is available for free and - assuming Internet access - is available from anywhere, there is the situation that the keys are managed by external companies and the user can not check their own security. Desktop and mobile wallets solve this problem, but are bound both spatially and safety-related to the respective devices. In addition, mobile wallets do not act as a full-fledged client, as it would blow up the volume of a cell phone to charge the entire blockchain.
The most similar to a classic purse is a hardware wallet that stores digital money separately and securely. The big disadvantage of this solution compared to the other, spatially bound wallets are the high initial costs of hardware wallets. However, storage on an offline device (cold storage) is generally considered more secure than storage on a device that is permanently or temporarily connected to the Internet (hot storage).
Basically, keeping and switching between different means is no more cumbersome than dealing with cash. In order to transfer money from his bank account into his wallet, it is necessary to visit an ATM. The transfer of money from the hardware wallet to his smartphone can be done by anyone personally and without a place.
Therefore, as with so many other things, this myth can be said: Once you have seen through the system, the everyday challenge you are faced with is not as big.
HERE you can read Part 1
HERE you can read Part 2
HERE you can read Part 3
The asset management company TOBAM announced on November 24, 2017 the opening of a cryptocurrency investment fund.
596/5000
And another company that wants to benefit from Bitcoin & Co. - the French company TOBAM has announced on its website to open the first European alternative investment fund. They follow one of their corporate principles of "maximum diversification" and make it easier for (unknowing) investors to invest in Bitcoin.
So the goal is to make as much profit as possible through (diversified) investments in the cryptocurrency market. According to their own statements, they have developed IT systems to offer investors the best possible profit margins.
Investment funds should provide more security when investing
The advantage of investing in a TOBAM investment fund is above all an increase in the security offered by the system. TOBAM therefore promises to include potential forks in upcoming investments. In addition, the investments should protect against complete loss and theft.
With specially developed security systems, the company wants to hedge the structure of its investment fund. In short, TOBAM wants to make the investment market for customers as easy as possible.
Christophe Roehri, developer at TOBAM said:
Like the initiators of the SAFT project, the French company wants to mediate between decentralized technology and potential investors. The company maintains registrations in Canada and South Korea other than its own country - both countries that have already engaged in blockchain technology, Bitcoin investment funds and the regulation of cryptocurrency.
With the investment fund, the French company jumps on the train of companies that want to benefit from Bitcoin & Co. For example, as we have reported, the Chicago Board Options Exchange options exchange, as well as its UK counterpart Man Group, has released details on its proposed Bitcoin futures.
The major Bitcoin exchanges, such as Bitfinex or Poloniex, offer their users the opportunity to lend their own funds to day traders in the form of short-term loans in addition to the actual trading in Bitcoins, Altcoins and Fiat currencies. The traders use the borrowed funds for the so-called margin trading and the lender receives interest for the transfer of the capital. At this point, Coinlend offers a free service that completely automates the rental process, optimizes interest income, and saves users a lot of time and effort.
In order to get an introduction to the topic, it makes sense to understand how margin trading works: Margin traders bet for example on rising prices of crypto currencies in the context of so-called lever transactions. For this, traders often need additional leverage to maximize their profit opportunities. Each user of the stock exchange can make this capital available as part of the P2P margin funding and receive a corresponding interest rate. In bitcoin lending, average interest rates have been around 25% over the last 12 months, making lending very attractive to any crypto-currency investor, especially in terms of the compounding effect.
Image based on data from coinlend
Margin trading is offered on various crypto exchanges. Coinlend currently supports the two largest margin-funding exchanges Bitfinex and Poloniex. More trading venues will follow shortly. Currently, the integration of Japan's largest crypto exchange, Quoniex, is being tested as part of a beta test.
To lend coins, the user only has to transfer the coins to be lent into the (funding) wallet of the relevant stock exchange and can immediately start the margin lending, ie the lending of the coins. And here comes the service of Coinlend into play.
The manual lending of coins on the stock exchanges is very tedious and time consuming. The user interface is confusing and barely understandable for beginners. In addition, trading transactions often have a very short maturity of two days and can be repaid prematurely by the margin trader at any time. Thus, the coins accumulate in the Wallet without interest, until they are lent again manually by the user.
That's why Coinlend was launched. Once set up, the Artificial Intelligence behind Coinlend automates the creation of the loans and thereby optimizes the interest income of the user - and free of charge. Coinlend is currently financed by donations from users. After entering the API key of the desired exchange and setting the framework conditions (such as minimum interest rate, maturity, etc.), the programmed by Coinlend Bot starts its work and gives the coins of the user fully automatically - at the best possible interest and completely free. Coinlend offers extensive statistics and evaluations of current loans and future developments. Setting up the bot is quick and easy, and there's a beginner-friendly step-by-step guide for every purse. And if there are still difficulties setting up the API key, the Coinlend customer support helps in a timely manner.
Image based on data from coinlend
What risks exist for the user? Basically, the risk is low. The margin trader must deposit a security with the stock exchange. As soon as his leveraged position runs against him and the security is used up, the position is closed and the lender gets his coins plus the interest accrued until then. Nevertheless, the user must of course entrust his capital to a crypto exchange, which carries a degree of risk, even if the major stock exchanges already operate on the market for years.
It is also not possible to misuse the coins by Coinlend or the borrower, since the required access rights (API keys) only allow the coins to be lent but not sold, paid out or similar. Neither by the margin trader nor by Coinlend. In addition, if a user once entered false rights, e.g. too extensive access rights, the Coinlend API key is automatically recognized as invalid and discarded.
Image based on data from coinlend
Conclusion:
In summary, margin funding is a good way to increase Bitcoin, Altcoins or US dollars at low risk. Those who are not afraid of a little risk can achieve very good returns. And Coinlend's free service provides great service that saves the user a lot of time and money. The operation is simple and comfortable, also very clear and offers a variety of statistics.
The Berlin company Mymoria offers its customers to be able to organize a funeral online and to take the maximum work from the mourners. As the Undertakers announced now, the payment will henceforth be made in Bitcoin.
From now on relatives can also pay funerals with the cryptocurrency Bitcoin. For the first time, the digital funeral home Mymoria makes it possible to further digitize funeral planning. Anyone who has a Bitcoin wallet can transfer funeral expenses to Mymoria in cryptocurrency.
Bitcoin is an attractive alternative to paying by bank transfer, credit card or online payment service. This is especially true for relatives who live abroad and have to organize a funeral in Germany. Blockchain technology makes Bitcoin transfers anonymous and secure. The number of users and the transactions of the virtual currency are increasing rapidly worldwide.
Björn Krämer, founder and CEO of Mymoria, says:
Recently Launched: Digital Condolence Book and Live Streaming of Funeral Services
Just recently, Mymoria expanded its funeral online planning service to include live streaming of funerals and the digital condolence book. Since November, relatives have been able to live stream funerals on the Internet for family members and friends who can not be there. Since September, family members have had the opportunity to set up a digital condolence page at Mymoria where friends and relatives can express their sympathy from anywhere, at any time.
For the first time, Mymoria offers relatives left behind the opportunity to order a full funeral online, with full cost transparency. In the familiar environment and protected space, they can intuitively put together all the services and products they need for the desired funeral. With this Mymoria wants to digitize the funeral industry. The company was founded in 2015 in Berlin. With three founders, Björn Krämer, Peter Kautz and Heiko Reintsch, the team currently has around 15 employees - and the number is rising.
Bermuda's government has established a task force on cryptocurrencies and blockchain. The British Overseas Territory wants to promote the trading of digital currencies.
This was announced by David Burt, the Prime Minister of the archipelago, and Wayne Caines, Minister of National Security, on Wednesday during a press conference. The task force will promote the regulation of tokens, "tokenized collateral", cryptocurrencies and initial coin offers (ICOs).
A statement shows that the task force will be divided into two departments. The Blockchain Legal and Regulatory Working Group, and the Blockchain Business Development Working Group – which will work to assist development of the technology
John Narroway, who will lead the Blockchain Business Development Working Group, said:
Narroway explained that the working group wanted to explore different ways to use cryptocurrencies. However, they want to focus on the key aspects of the industry.
In addition, Bermuda's Business Development Corporation will also support the working group in its efforts.
Ross Webber, Chief Executive Officer of the Business Development Corporation, hopes that the results of the new team will create an incentive for companies to relocate business to Bermuda. This would also benefit the country's labor market and gross domestic product.
Prime Minister Burt also announced that regulatory framework conditions for Distributed Ledger Technology (DLT) could already be expected in 2018. He said that Bermuda "is considering a complementary regulatory framework for advertising and selling pay-to-use tokens targeted at the DLT framework."
After a period of consolidation, a rally started, which propelled the course to the current price of 7,280.47 EUR (8,687.22 USD).
Image based on data from coinbase.com
Summary
- The Bitcoin price has gone up during the week.
- The current rally can be explained in the context of the triangle pattern, in which Bitcoin has been at the beginning of November.
- A real short-term resistance can not be named clearly in the current rally. Most important short-term support is 6,845.03 EUR (8,168.17 USD).
In spite of the fight between Bitcoin Cash and Bitcoin as well as the current hard-fork madness Bitcoin continues to rise. Although there was a slight consolidation during the week in which the price recovered slightly, then the price went up sharply again. Meanwhile, the course has left behind the 7,000 euros and shows no signs of a speedy stop.
Accordingly, the MACD (second panel) is of course positive, as is the MACD line (blue) above the signal (orange).
The RSI (third panel) is 74 and is thus overbought - which may well happen in a rally.
The analysis of the moves in the 60 mins. chart speaks a bullish language. Most important support is described by the conservative assessment of the week's bullish trend, which stands at 6,845.03 EUR (8,168.17 USD). A real resistance is not yet visible in the 60 mins. chart.
The long term course development
How is this rally to be evaluated in a larger context? Let's take a look at the medium and long-term price movements first in the 240 mins. chart:
Image based on data from coinbase.com
The gold cross raised in the last week has been confirmed: The course knows, except for the mentioned consolidation, no stopping and rising. Looking more closely at all price movements in November, it is noticeable that they follow an upward-pointing triangle pattern. The latest rally can be explained in this context: After a test of the support of the triangle pattern, the course bounced off it and now rises to test the resistance of the triangle pattern.
With regard to this upcoming test, the indicators look good: the MACD is positive, as is the MACD line above the signal. The RSI stands at 67 and is thus bullish. In the medium term, the situation is also bullish. The most important support, apart from the support of the triangle patterns, is described by the exponential moving average over the last two weeks, which currently stands at 6,659.05 EUR (7,946.24 USD). The most important resistance is described by the maximum of the triangle patterns at 7,422.21 EUR (8,856.92 USD).
Let's take a look at the 1D chart:
Image based on data from coinbase.com
The steeper uptrend, which was already addressed in the last price analysis, can now be described as an upward channel. Here, too, the course currently knows no stopping and testing the resistance of the upward channel. The MACD is positive, as is the MACD line above the signal. The RSI stands at 69 and is bullish and not overbought.
Overall, the long-term outlook is bullish from a technical perspective. The most important support is described by the former resistance of the old upward channel and stands at 5,828.21 EUR (6,954.80 USD). To make a real resistance here is difficult; Extrapolating the current upward channel over a week, however, one can make an estimate based on the resistance of the same: Accordingly, the resistance would be at 7.510,45 EUR (8,962.22 USD).
Disclaimer:
The course analysis is from the morning MUT time zone and can have changed since. The price estimates presented in this post are not a recommendation to buy or sell. They are merely an estimate of me.
I wish you all a lovely Sunday and a great start in the new week!!!
ⓁⓄⓥⒺ & ⓁⒾⒼⒽⓉ
Best regards
@danyelk
.gif)
