Bitcoin Falls 43 Slipping Below 9000 for First Time in Two Weeks

Bitcoin Falls 4.3%, Slipping Below $9,000 for First Time in Two Weeks

                                 

Analysts cited a lack of positive market drivers and speculation that the U.S. Federal Reserve might pause this year’s rate-cutting cycle, which could curb demand for the cryptocurrency as a potential inflation hedge. The price dropped to $8,800 as of 18:57 UTC (1:57 p.m. New York time), according to Trading View. It’s still more than double where bitcoin was at the start of the year, leaving the cryptocurrency as one of the world’s best-performing asset classes in 2019.

Bitcoin had rallied more $2,000 in late October after Chinese President Xi Jinping declared that the country would embrace blockchain – the decentralized computing networks underpinning cryptocurrencies – as a “core” technology, followed by the reveal of hundreds of blockchain projects already in motion. Since then, though, the price had mostly fluctuated within a range between $9,100 and $9,600.

Friday’s decline accelerated after bitcoin broke below its 200-day moving average of $9,186, which had been seen as a price support by some traders using technical analysis. “This is a pretty classic example of a technical move,” said Kevin Kelly, co-founder at Delphi Digital, a cryptocurrency research firm in New York. “It just sort of broke to the downside.” The price drop appears to have triggered margin calls for some traders, leading to position liquidations and creating additional selling pressure, Kelly said.

One of the macroeconomic narratives for buying bitcoin is that, like gold, it can be used as an inflation hedge, Kelly said. But with increasing signs that the economy might be responding to the Fed’s three interest-rate cuts earlier this year, speculation is mounting that the U.S. central bank might refrain in the near term from further moves to ease monetary policy, he said. “You have seen an unwind of the consensus on this doomsday narrative,” Kelly said. Some investors may also have become more skeptical that China’s public push to use blockchain would translate into new demand for bitcoin, according to Greg Cipolaro, co-founder of Digital Asset Research.

While many traders thought bitcoin, as the original blockchain and biggest digital asset by market value, might benefit from broader adoption of the technology, if China has been at work developing a digital version of its own currency, it could be a win for blockchain technology on the whole but mean little for bitcoin today. “My opinion is that that wasn’t the right read of that news,” Cipolaro said. “They were clearly saying blockchain not bitcoin.” With that realization in the backdrop, “you really haven’t seen follow-through on the price,” he said. “There hasn’t been a major catalyst post that $2,000 rip two weeks ago.”

Article Produced By
Michael Williamson

https://www.icogeeker.com/bitcoin-falls-4-3-slipping-below-9000-for-first-time-in-two-weeks/

Bitcoin Mining to Ramp Up Dramatically in Russia

Bitcoin Mining to Ramp Up Dramatically in Russia

                               

Bitcoin mining is heating up as several groups are ramping up production, with one Russian company aiming for 20% of the world’s total.

Bitcoin mining has definitely changed over time. Regular people used to be able to mine BTC with their desktop computers, but those days are long over. Cryptocurrency mining is now the province of major companies, such as Bitmain. It seems that the competition between crypto mining outfits is heating up, with one Russian company shooting for hitting 20% of the world’s Bitcoin mining total.

In Mother Russia, Bitcoin Mine You!

The company in question is the Russian Mining Company (RMC), and its CEO is Dmitry Marinichev, the country’s Putin-appointed internet ombudsman. The company is setting up shop in a metal factory in the province of Karelia. The factory has been closed since 2018 due to U.S. sanctions.

Of the plant and RMC’s plans, Dmitry Marinichev says:

Now the plant for Rusal is unprofitable, the electricity supplied to it is practically not utilized, and people living in the single-industry town near the plant have nowhere to work. Our idea is to redesign the plant and sell its computing power as a service, that is, provide an IT service.

One of those services is cryptocurrency mining, and the plant is so large, it could account for a full 20% of the entire world’s Bitcoin mining production. The company managed to raise US$43 million during an ICO in 2017.

Other Competitors

RMC is not alone in trying to grab a larger slice of the cryptocurrency mining pie. Argo Blockchain in the United Kingdom has doubled its order of mining rigs as it seeks a “significant expansion” to its capabilities. The company has ordered 10,000 Antminer T17s, worth a total of $9.51 million. When the new mining rigs arrive in December, the company will boast a total of 17,000 Bitcoin mining machines. Its total hash power is then expected to increase by 240%. China-based Canaan Creative is looking to score through a NASDAQ initial public offering. The second-largest BTC mining device manufacturer is hoping to raise $400 million through the IPO. The company says it will use the funds to pay off debts and fund research into blockchain technology and AI.

The decision by Canaan Creative comes a short time after Chinese President Xi Jinping spoke favorably about the country becoming the leading force in advancing blockchain technology. However, China is still hostile to decentralized cryptocurrencies, shutting down exchanges back in 2017, but the country’s central bank is reportedly close to releasing its own state-controlled cryptocurrency. While some critics are saying that the profitability of Bitcoin mining is down considerably, it seems a number of companies are willing to spend big to increase their stake in the industry.Images courtesy of Wikimedia/Vpetrov-71 and Pixabay.

A few years back, Jeff began hearing about Bitcoin and the rise of other cryptocurrencies. A proponent of allowing people to take economic power into their own hands, he has enthusiastically supported cryptocurrencies and the many benefits of blockchain technology. This interest propelled him to becoming a writer for, and later editor of, several crypto-focused websites. His goal with BitcoinerX is to provide timely news and analysis in an entertaining manner.

https://bitcoinerx.com/mining/bitcoin-mining-to-ramp-up-dramatically-in-russia/

China Removes Bitcoin Mining From Its BanList

China Removes Bitcoin Mining From Its BanList

China removes the bitcoin mining from the ban list of industries,

and now the bitcoin mining industry has no restrictions or danger from the regulatory department of china, reported on 06 November 2019. According to the report, it is confirmed from the information given in the newly published edition of Industrial Structure Adjustment Guidance Catalog (2019) where bitcoin mining is not listed in the elimination list of industries that are going to be banned after taking final action in 2020.

Previously, China published a list of industries that will be banned in 2020 where bitcoin mining was also listed in the ban list, but just now they published the documents again by doing some changes where bitcoin mining is also removed from the ban list.
This is really good news for the bitcoin because most of the hash power on the bitcoin network is from the bitcoin mining farms established in China.
China also a big producer of bitcoin mining equipment.

Last month, Hurun Report, research, media, and investment firm recently published a report named “Hurun China Rich List 2019” in which it featured 12 local cryptocurrency magnates. Last Week, The encrypted peer to peer messaging application Telegram has launched the test wallet for its native cryptocurrency GRAM token. Telegram has launched the wallet for Windows, iOS and Linux users.

Article Produced By
Bitcoin News

https://bitcoinik.com/china-removes-bitcoin-mining-from-its-banlist/

University Researchers Accuse Tether of Manipulating Bitcoin Prices in 2017

University Researchers Accuse Tether of Manipulating Bitcoin Prices in 2017

                               

Many cryptocurrency enthusiasts like to think back to 2017.

It was the year when Bitcoin and virtually all altcoins noted their last all-time high values. To this date, it still remains unclear where this sudden surge came from. Many people still feel Tether is partially to blame for this series of events. Influencing cryptocurrency prices can be done by anyone and everyone. The scale at which that impact will be visible is a different matter entirely.

More Tether Manipulation Accusations

As far as the 2017 cryptocurrency push was concerned, many people suspect big holders made their play accordingly. A new study created by John Griffin and Amin Shams seems to hint at one sole entity being the catalyst. They claim it only took one wealthy speculator to manipulate all of the markets with relative ease. More specifically, the researchers point a finger of blame at Tether. The company issues the USDT stablecoin which is commonly used across trading platforms. 

While it is not the first time Tether is named in regards to potential market manipulation, the company refutes any and all claims. Tether’s General Counsel Stuart Hoegner went as far as stating how the research is flawed in many different ways. It is evident that this will not be the last accusation of Tether either. The company has been under scrutiny for quite some time now. In recent months, the company also became involved in a lawsuit. The outcome of that investigation is still pending at this time.  Whether or not this research factors into that lawsuit, remains unclear. 

Article Produced By
JP Buntinx

https://cryptomode.com/university-researchers-accuse-tether-of-manipulating-bitcoin-prices-in-2017/

Chinese President Sparks Big Bitcoin Price Gains with Bullish Blockchain Speech 0 58

Chinese President Sparks Big Bitcoin Price Gains with Bullish Blockchain Speech 0 58

                                 

Chinese President Xi Jingping supports the blockchain and says the Chinese government needs to do more

in terms researching and investing in the blockchain, according to South China Morning Post. Xi is also the general secretary of the Communist Part of China Central Committee and chaired a meeting on the subject with other advisors taking part. Xi believes blockchain “will play an important role in the next round of technological innovation and industrial transformation”. “Major countries are stepping up their efforts to plan the development of blockchain technology. Greater effort should be made to strengthen basic research and boost innovation capacity to help China gain an edge in the theoretical, innovative and industrial aspects of this emerging field.”

What Xi’s Thoughts did to the Bitcoin Price

In just the last five days, the price of Bitcoin is exploding. It now stands at $9,360.67 after starting the trading day on October 24th, 2019 at $7,474. That’s a price gain of over 21%. The price briefly got up over $10,000 throughout the weekend before bouncing down to where it is today.

Is The Government’s Stance on Cryptocurrency Changing?

China banned an initial coin offering for a cryptocurrency exchange in 2017. The country wanted to curb enthusiasm around crypto to protect consumers in theory. China used to be the world’s largest influence on Bitcoin trading volume but that’s since changed because of the regulatory crackdown. However, the country still does maintain a major influence in the cryptocurrency mining space. So while it’s nice to hear Xi extolled the virtues of the blockchain, the reality is the Chinese government has a history of tightly controlling what its citizens can and can’t do when it comes to money, politics and social issues. That in fact is part of the reason that China had such a stranglehold on Bitcoin trading volume is that Chinese people have the desire to keep their savings out of the hands of the government. Most Bitcoin and blockchain enthusiasts know that a big portion of the transactions that go through the world’s most valuable blockchain are the result of people trying to escape oppressive regimes.

Hyperinflation in Venezuela

The International Monetary Fund estimates that the inflation rate of the Venezuelan Bolivar will reach a staggering one million percent by the end of 2019. While Bitcoin’s price worldwide is usually listed on charts in comparison to the American dollar, that doesn’t mean that everyone gets access to Bitcoin at the same standard price. It’s estimated that the price of Bitcoin in Venezuela is doubling every single day. That sounds huge and it is, but when the price of the local fiat currency is exploding by a million percent per year, it makes sense to put that money into Bitcoin as quickly as possible. Scarcity = value, and if people converting the Bolivar are lining up at Venezuelan exchanges all at the same time, it only makes sense that the price will continue to skyrocket. When a handful of countries experience the same thing, the overall volume being traded and acquired on the international market goes up.

Greece’s Government Debt Crisis

Known as The Crisis, Greece’s problems ironically stem from the same 2008 Global Economic Crisis that sparked the invention of Bitcoin and the blockchain network. The Crisis led to citizens quickly becoming impoverished. Overall, the situation in Greece surpassed the U.S. Great Depression as the longest recession on record. During this time, bond yield spreads have grown further and further apart and the government’s debt reached nearly 300 billion Euros, causing risk insurance and credit default swaps to rise in price, creating a whole system of growing debt. Of course this led to more and more people searching for alternative ways to store value. This meant Greeks began putting money into traditional and digital gold, or Bitcoin.

One Other Potential Reason for Bitcoin’s Recent Surge

Bakkt is a Bitcoin futures exchange most serious traders were really excited about earlier this year and even going back to 2018. As soon as it launched, enthusiasts expected Bitcoin to go all the way to the moon. It’s just happening now, a little bit later than anybody thought it would. Just in the last 24 hours, trading futures contracts on Bakkt has gone up 260%. This is all in anticipation of future events related to innovation in China. What comes from Xi’s comments in the long term remains to be seen, but for now it seems the market is already pricing in potential.

Article Produced By
Jack Choros

https://cryptoradar.org/chinese-president-sparks-bitcoin-price-gain/

Craig Wright Backs out of 500000 BTC Lawsuit Settlement 0 11

Craig Wright Backs out of 500,000 BTC Lawsuit Settlement 0 11

                                    holding-bitcoin

Craig Wright, the infamous programmer claiming he’s the inventor of Bitcoin, is backing out of a 500,000 BTC settlement with the Kleiman estate. He says he can’t afford to finance the payout.

The Case Is Back On

Wright lost his case against Kleiman in August. Courts deemed he couldn’t prove he’s solely responsible for half a million Bitcoins he mined with Kleiman prior to 2014. That means the case that ended less than 90 days ago is now being re-opened. Wright battled with Ira Kleiman’s estate through his living relative David Kleiman. At the time of the court’s decision, the 500,000 BTCs were worth over $5 billion.

A motion filed on November 1st in a Florida courtroom states that both parties have reached a non-binding agreement in principle following several conference calls and in-person meetings. The plaintiffs were claiming they were no longer pursuing active litigation, but they found their efforts to be a waste of time. The law firm representing the plaintiff’s case wrote in a motion that on October 30th, 2019, they were informed Mr. Wright could no longer afford to finance the settlement and that he was “breaking” the non-binding settlement agreement.

So What’s Next?

Lawyers representing the Kleiman estate are now preparing for a new court date on March 30th of next year.

Wright is Now Fighting Back against an Old Deposition

Roche Freedman is now working to obtain a deposition of James Wilson, a chief financial officer of Craig Wright’s companies in Australia. He worked for Wright between 2012 and 2013. The plaintiffs think the comments Wilson made during that deposition are going to be crucial to the case. He was the one looking over Wright’s companies when they were sold to the Kleiman estate in exchange for Bitcoin. Wilson will be visiting Washington on November 8th to be deposed once again.

In lieu of that upcoming date, Wright’s lawyers are suggesting they will not consent to a deposition because they haven’t received 14 days’ notice for an out of state deposition as required by the law. The court documents also show the team will decide whether or not they’re willing to go through with a video deposition within the next week. This is all quite a bit of red tape to go around for Kleiman’s estate and Wright’s conduct has certainly put a strain on things.

Forgery Complaints

Emails, invoices and BitMessages were analyzed over the summer time and investigator Matthew Edman uncovered the fact there’s a good chance Craig Wright tampered with documents relating to the Tulip Trust, an account where funds were being held. This has created an atmosphere of doubt around Wright’s integrity, although a cross examination from opposing lawyers gave them a chance to refute claims. The story around Wright and the $10 billion-plus within the Kleiman estate just keeps getting more and more interesting. And it seems, it’s not exactly over yet.

Article Produced By
Jack Choros

https://cryptoradar.org/craig-wright-lawsuit/

A Big Four Begins Testing Mobile Bitcoin BTC Wallet App

A Big Four Begins Testing Mobile Bitcoin (BTC) Wallet App

                                  

The Big Four are the biggest professional services networks in the world,

offering audit, assurance, taxation, management consulting, advisory, actuarial, corporate finance, and legal services everywhere. Composed by PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG, these firms accounted for $148.2 billion in combined global revenue during the fiscal year 2018. 

All of these companies have shown interest in blockchain technology at some level, proving the utility behind said tech and how it could greatly improve the services they provide to customers worldwide. Although it wasn’t until recently that one of these consulting companies begin implementing cryptocurrencies to test things out. According to the Luxembourg Times, Deloitte is currently testing out a Bitcoin app within the company itself, offering its employees the possibility of paying for their lunch using Bitcoin (BTC) through a simple mobile app. The trial, which is only an internal test, is supposedly working towards the optimization of an app capable of enabling usage of cryptocurrencies more easily, although the company has said that it’s not planning on allowing clients to pay for their services in crypto just yet. According to Laurent Collet, a partner for strategy regulatory and corporate finance department at Deloitte Luxembourg:

We think it’s good to have our employees assess this new technology.

Furthermore, Collet continued on explaining how blockchain technology was a priority for the company, especially when it came to fund management activities and processing of transactions. Through blockchain tech, clients could benefit from greater transaction speeds, making auditing processes easier while removing the middlemen. This is where we focus our attention right now in linking this new technology with the needs of the Luxembourg industry. Deloitte has a long way to go, especially since one of its major rival companies, PwC Luxembourg, announced that it will begin accepting Bitcoin (BTC) as a payment method for services rendered. 

Article Produced By
CryptoCoin.News

CryptoCoin.News is the central news source for information on cryptocurrencies. We cover crypto news and analysis on the trends, price movements, ICO reviews, companies and people in the Blockchain world.

https://cryptocoin.news/news/a-big-four-begins-testing-mobile-bitcoin-btc-wallet-app-30385/

How To Use Bitcoin Anonymously

How To Use Bitcoin Anonymously

Bitcoin has a reputation in the public imagination for being an anonymous digital currency,

like an internet equivalent of physical cash, but that is not entirely correct. When used normally, Bitcoin is more of a pseudonymous currency and not an anonymous one. Anybody can download a simple piece of software and install it on their computer to use Bitcoin. Because it is a decentralized, peer-to-peer system, you do not need to register an account with any particular company or hand over any of your personal details (unless you choose to do so, for example with a web wallet provider). Once you have a wallet you can create addresses which effectively  become your identity within the network. This already gives an enhanced level of privacy compared to other digital payment systems, because you can begin using the network anonymously.

There is also another side to Bitcoin, however. Because transactions must be confirmed by the network, and transaction history shared between all participants, there is a public record of all transactions which anybody can access. In fact, this is really what the ‘blockchain’ is – a shared public record of everything which happens on the Bitcoin network. So, even though your personal identity as the owner of a wallet may not be public knowledge, all of the transactions you are involved in are public knowledge. This can be a problem for the privacy conscious user, not least because there may be other ways that an observer can link the wallets you use to your personal identity.

For example, most exchanges for buying and selling digital currency are centralized service providers who require at least some identity information from their customers before they can use the service. This is just one example of a service which uses Bitcoin but also requires identity information; there are many others, from casinos to online shopping sites. By analyzing the activity which is visible to anybody on the public blockchain an observer may well be able to link your personal identity with all of the wallets you use and therefore your entire transaction history. In a way, this makes Bitcoin even less private than a bank account. Fortunately there are things you can do to improve this situation.

A Beginner’s Guide to Using Bitcoin Anonymously

Basic Protection: Disposable Addresses

Many beginner’s will download their wallet software, create one or two address, and then keep using those addresses for an extended period of time. If you want privacy, then that is not the best way to use your wallet. The more you use an address the easier it is for an observer to build up a profile of your activity, whether for advertising or more sinister purposes, and even to link that activity to your personal identity.

Bitcoin addresses are not meant to be permanent locations for everything you do. Instead, it will enhance your financial privacy if you view addresses as disposable invoices – each time you are going to receive a payment you should create a new address specifically for that purpose, and then never use that address again afterwards. If you have a desktop wallet on your computer then you should be able to create any number of addresses with no problem, and no matter how many you create all of your old addresses will still be able to receive payment in case somebody sends you money using an old address they have on file for you. Most wallets today will take care of this for you, automatically creating a new address each time you want to receive a payment, but it doesn’t hurt to be aware of this issue. For additional considerations in choosing which wallet software to use please read: Anonymous Bitcoin Wallets Explained.

Bitcoin Mixing

(For a more detailed look at mixing, along with a complete step-by-step guide, please take a look at another of our articles:

How to use a Bitcoin mixer / tumbler)

You can further enhance your privacy by using a mixing service. You can use this when you send a payment to somebody, when you are sending coins to your wallet from the site you bought them on, or you can even send money to another address you own through a mixing service in order to ‘launder’ it. This works by simply mixing up your coins with a large number of other coins from other sources before sending them out the other side. By doing this, it becomes difficult or impossible for an observer to link specific payments into the mixing service with specific payments coming out of the mixing service.

One popular and reasonably priced mixing service is offered by Best Mixer, who also have a dedicated TOR based service, but there are also many others about so if you like to shop around then a bit of Googling may be in order – just be careful to check for review though, because there are a couple of scam sites out there which claim to be mixers but actually steal your coins.

Buying and Selling Bitcoins Anonymously

If you want to make sure that your financial activities with Bitcoin cannot be connected back to your ‘real world’ identity, then you may well be wondering how to buy and sell Bitcoin anonymously. It is when buying your coins that you are most at risk of your digital activities being associated with your personal identity, as many sites require you to verify your identity and provide ID documents in order to make a purchase. This is to help them to avoid prosecution under money laundering laws. So if you want to stay anonymous when using bitcoin this is an important part of the process. If you cannot arrange a private deal using the methods below then you can buy using any other method and use a mixing service to transfer coins to your wallet. This will usually be enough to protect your privacy, although it isn’t quite as good as not revealing your identity anywhere in the first place and has a small cost.

Here are some instructions on how to go about arranging private deal to buy and sell coins:

#1 Using a peer-to-peer exchange where you can buy and sell with other individual users rather than a company will provide you with a better level of privacy than using a central service. Here are some example of exchanges where you can buy and sell without providing personal details or without verifying those details (meaning you can use a false name) to the website:

Bitsquare: This is an entirely decentralized exchange, in which you trade directly with another individual without needing to go through a central service provider. You download a piece of P2P software rather than going to a website. When you open Bitsquare it creates your own ‘hidden service’ on TOR with your own .onion address, routing everything through this well established privacy service to hide your IP address – which can be used to identify you. There is no registration and no need to provide even a username. You do, however, need to provide a small security deposit of 0.01 bitcoin which you get back when you have made a trade or if you cancel your offer, so if you want to buy your first bitcoin then you will probably need to get some through one of the other options first. I personally rate this as the best method to buy and sell bitcoin anonymously, but the fixed fees mean that it is expensive for small amounts.

LocalBitcoins is one very popular peer-to-peer service for buying and sell coins, which operates in many different countries around the world. When using this site you have the option of providing identity information or not. Other users will also have the option of dealing with anonymous users or requiring identity information. Many users will require some kind of identity information, either through the site’s own ID verification system or privately over chat in order to protect themselves against both fraud and government investigation. But it is still possible to arrange anonymous trades through this method.

MultiSigna As the name implies, this exchange uses multi-sig technology for all exchanges, meaning that you do not need to trust your coins to the exchange for safe keeping, or rely on the exchange to keep their own internal books accurate – everything is on the blockchain. As the users of defunct exchanges like Mt Gox will attest, this is a big bonus in terms of security, and also makes them more decentralized and directly peer-to-peer than other options. The fees start out at the standard 0.5%, but if you are a regular trader and progress through the ‘user levels’ you can take advantage of reduced fees. Coinffeine is not only peer-to-peer, but is also a decentralized exchange. Currently the only fiat payment method is OKPay, which has its own identification requirements, but you do not need to share personal information via Coinffeine itself and additional payment methods will be added in the future.

#2 When making a purchase on LocalBitcoins, users who are particularly concerned about their privacy should consider making payment in cash. This is particularly important if you are making a high volume of purchases because the volume alone may trigger a deeper investigation by your bank – for smaller amounts its less important but may possibly be preferable to some users. There are two ways to do this: an in-person trade where you meet up with somebody (often requires a larger purchase to make it worth their while coming to meet you), or ‘cash deposit’ where you go a branch of the sellers bank and deposit money directly into their account. Once you have signed up just click ‘buy bitcoins’, then underneath the list of the top offers you will see a link which says ‘Show More’ – this will show you a list of payment methods to choose from so that if you then click ‘cash deposit’, for example, you will see only offers from users wanting to sell you coins through this method.

#3 There is an ID verification system on the LocalBitcoins site, but its use is optional. Some sellers will require this, others will not. Some sellers may also ask you to send them a copy of your ID through a private message (although if you can make a cash trade either kind of ID requirement is less likely). Generally, providing your ID to an individual is better than uploading it to the main site, but some people may still be uncomfortable with this. Each seller should list their particular requirements within the advert, and you can also send them a message before opening a trade to get more information about their policies, so it is not difficult to ‘shop around’ for the right seller. Remember, however, that the offers listed here are constantly changing as different users go on and offline, so if none of the listings for your chosen payment method suit your needs it may be worth having a little patience and checking back later.

Stealth Addresses

Stealth addresses are a reasonably new feature which allows users to generate a new public address to represent any regular Bitcoin address. This means that you can then send money to this new stealth address without anybody knowing the true destination of the funds. You do need a wallet which supports this feature in order to use it, and at the time of writing it has not been widely adopted. If you want to give it a try then Dark wallet is a great place to start – its a browser wallet which works as an extension for Google chrome and includes stealth addresses as well as other privacy features.

Taint Analysis

If you have used a coin mixer then you can check how well its privacy services are performing with a taint analysis. This shows which addresses have sent coins to your address and is a good way to see whether mixing services are performing to your expectations. There are plenty of different service out there, so if one is working well you can always choose another. You can perform a taint analysis using the Blockchain website.  Here is an example link, just replace the BTC address with your address in the url to perform your own taint analysis: https://blockchain.info/taint/1dice6GV5Rz2iaifPvX7RMjfhaNPC8SXH

This will perform a kind of forensic test to see which addresses it thinks probably did send coins to the address you are checking. You can, for example, enter the address given to you for a marketplace site to check whether any observer would be able to tell whether your personal wallet sent coins to this address. Ideally you would want your personal address not to show up in the list at all when you do this kind of search, or at the very least you would want it to come up with a low taint % – meaning an observer could not say with any high degree of confidence that there was a link between the two addresses.

Article Produced By
Dean

Owner, Editor, and lead writer for Cryptorials. Cryptocurrency writer and trader since 2014.

https://cryptorials.io/how-to-use-bitcoin-anonymously/

Everything you need to be a Bitcoiner in Australia

Everything you need to be a Bitcoiner in Australia

Getting into Bitcoin or other cryptocurrencies can be a complicated and time-consuming task for beginners.

Personally, I think that this is one of the big reasons that we haven’t seen higher levels of adoption, as the commitment of time and effort to go from casually interested to actively involved puts off a lot of people. So I am always interested in initiatives which have a chance of reducing this barrier and introducing more people to crypto. The Bitcoin Australia website seems to be one such initiative. It is essentially a kind of ‘one stop shop’ with a variety of services under one roof. The three main elements of this are:

A simple but flexible Bitcoin exchange

An education centre to teach people about Bitcoin and blockchain technology

A news desk for keeping up with the latest developments for BTC and also other cryptocurrencies such as Ethereum

In reviewing the site and its services I came to the conclusion that this is an excellent place for beginner’s and casual users. More experienced and committed users may still find some useful information in the education section, which includes intermediate and advanced topics as well as the basic beginner guides, but aside from that may be happier using a range of other more specialized services. But if I had a friend in Australia who was interested in learning more about Bitcoin this is definitely where I would tell them to go to get started.

Having good quality information about topics like choosing and using a wallet in the same place that you can buy your first Bitcoin and also read the latest news to decide if now is the right time to jump on board seems great to me. I was especially impressed by the range of different options for buying Bitcoin, which include not only various forms of electronic fund transfer but also two different options for paying cash: either at a newsagent or over the counter at a bank. It is also very simple to use, which is a massive bonus for beginners.

In addition to this there are also different options for people looking to make an investment in cryptocurrency rather than buy it to use, such as a licensed crypto fund. An over the counter trading desk and ‘crypto superannuation’ round out the investment offerings. The quality of the information provided by the site is good, and the news stories are interesting, informative and relevant. You can also subscribe to an email newsletter for the latest stories, and get access to special offers as a reward. Overall I was impressed by the site and its services and would recommend it, especially for beginners but also for some more experienced users.

Article Produced By
Dean

Owner, Editor, and lead writer for Cryptorials. Cryptocurrency writer and trader since 2014.

https://cryptorials.io/everything-you-need-to-be-a-bitcoiner-in-australia/

Shorting Bitcoin 5 ways you can short bitcoin

                                

Shorting bitcoin is an investment strategy that allows traders to gain from price drops.

This concept works well for investors who are skeptical about Bitcoin’s future. When shorting, an investor borrows Bitcoin and sells it at the current market price. Later, you buy it back. This is done with the hope that by the time you are repurchasing the Bitcoin, the value will have plunged. And this means that if the value decreases it, you could purchase it back at a lower value and now have more of it. One factor you have to take into consideration is leverage. Leverage refers to the amount that you will borrow in order to execute your trading position. Leverage is calculated as a proportion of your total trade.

However, it is essential to note that shorting is a risky and challenging strategy. The trader needs to have experience of the market, be a skeptic, and have the skills to utilize some of the complicated procedures. Shorting needs knowledge and patience. Considering that the crypto market is volatile, traders need to understand all the available options for shorting BTC. In this guide, we look at different ways you can short Bitcoin.

Margin Trading

This is the ideal way of shorting BTC or other crypto assets. Margin trading entails borrowing funds from a cryptocurrency exchange to purchase a digital asset. To short Bitcoin, you will need to use FIAT currency and buy the asset. You will the short sell it, and purchase back after the market crashes. Typically there’s some interest or leverage attached to the loan. As the cryptocurrency market grows, more exchanges are enabling margin trading. You can enjoy this feature on platforms like BitMex, Ava Trade, Bitfinex, among others. Margin trading is also risky. In the event your plan is shuttled, the trading platform will close your trade sooner than you expected simply because margin trading magnifies both gains and loses.

Futures Market

It works when a buyer and a seller come to an agreement to trade their Bitcoin or other assets at a specific set price in the future. The two are bound by a contract that spells out the terms of the trade. Typically, when you get a Bitcoin futures contracts, there is a likelihood that the price of the asset will rise. At least that’s what the crypto community see it. In reality, nothing’s for sure. On the other side, when you sell a Bitcoin Futures contract, it translates to a bearish mindest, and the asset might drop in value.  In this type of trading, you’re predicting with the hope that the price of Bitcoin will go up. That way, when your contract expires you can buy Bitcoin below the market price.  However, Bitcoin futures markets are a bit difficult to find. Note that margin trading patterns exist in the professional trading world. However, platforms like OrderBook.net and Exante offer these services.

CFDs Bitcoin Shorting

Using online CFD brokers enables you to short Bitcoin. This works for retail investors who do not have an account with a broker that supports CME/CBOE bitcoin futures contracts. Platforms like eToro, AvaTrade or Plus500 offers Bitcoin shorting on CFDs on retail brokerages. CFDs (contracts for difference) work in a similar manner like futures contracts but are tailored towards retail investors. In this case, traders can bet on a price increase or decrease of Bitcoin without having to own it physically. Note that CFDs are leveraged products and they allow traders to go long or short Bitcoin using margin. Therefore, traders only have to put down a percentage of the total amount of the trade-in order to open a position. In the end, traders are able to magnify their returns if their bet pays off but also carries increased risk as losses are also magnified if the price plunges.

Bitcoin Shorting via Binary Options

Traders can also short Bitcoin through the options trading. This model involves put and call options.  Here, traders with a put option contract, have the right to sell a specified amount of Bitcoin, which you set, at a certain price at a certain period. This approach is known as the strike price. With time, the put option gains value as Bitcoin loses value compared to the strike price. Note that you are not obligated to sell the option if you don’t want to. On the other hand, a call option contract offers you the right to buy shares in the same way. This contract gives you an option to buy a certain amount of Bitcoin at a specific price until the expiration date.

Prediction Markets

You can short Bitcoin through prediction markets that work in a similar manner like gambling. In this case, you predict its price, and when you are correct, you earn a certain profit. Prediction markets are exchange-traded markets created to trade the outcome of future events. This new market feature allows traders to predict that bitcoin would decline by a certain margin, and if anyone takes you up on the bet, you will stand to profit if it comes to pass. Augur is the pioneer prediction markets on the blockchain. Other platforms to use prediction markets include Gnosis and Stox.

Risks Associated with Bitcoin Shorting

As seen above, shorting Bitcoin can be risky. The entire cryptocurrency market is extremely volatile. Based on this volatility, when you short Bitcoin, you can make profit or losses. Based on its value when short selling, your losses can extend far beyond your initial investment. Shorting Bitcoin should be done when you are confident that the prices will drop. Always monitor cryptocurrency prices and lower your losses if it starts to rise quickly. With the volatility of the cryptocurrency markets, it’s essential to understand all your options, especially if one involves hedging your future if the markets crash. Another risk of shorting is that your losses are unlimited. If you dont have a strong strategy – you might end up with your entire balance liquidated. Therefore, we recommend you to try with a few testing funds.

Conclusion

We hope that this article helped you understand a bit about shorting. Through the act of borrowing Bitcoins, selling them when the price is high and then repurchasing them when the price is low, you can earn money even when markets are on the decline. Usually shorting is not recommended for traders who are just starting because of the high risk it involves. If you decide to do it, make sure you only invest money you can afford to lose. Also, make sure to stay up to date with current related events so you can anticipate any change in the price direction. We hope this review helped you understand more about shorting bitcoin and made things a little bit more clear.

Article Produced By
Amisi Paul

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