The head of Wells Fargo Securities: the fall of the cryptocurrency will weigh you down and the stock market

The head of the investment Bank Wells Fargo Securities Christopher Harvey (Christopher Harvey) I am sure that if the cryptocurrency boom will end in failure, the stock market might also suffer from the ensuing chaos. He said this with the TV channel CNBC.

On the cryptocurrency markets with a lot of foam. We believe that if the foam will overflow, it will give side effect.

He stressed that against the background of price spikes bitcoin stock of the company at risk, and predicts the disappointing news in 2018, especially in its second half.

The market will have to overcome the peak values in terms of net profit per share in business activity, then the yield curve is equalized, and the multipliers will begin to decline. To achieve in order to stay afloat and not go into losses, will have sweat and blood.

Recall that after the second wave of correction in which the course is first of bitcoin has dropped to $12500, the price of bitcoin began to recover. At the moment the price of bitcoin, according to CoinMarketCap, is about $15430.

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Coinbase will use machine learning to identify customers

In the last few months demand for the cryptocurrency has grown considerably, and the exchange began to experience difficulties with the increasing influx of new users. Among them the largest US crypto currency exchange Coinbase.

Yesterday the company published a post in which he admitted their difficulties in the identification of customers and told how plans to cope with them.

The graph below shows the growth in the number of users of Coinbase for the period from January 2014. Starting in November 2017, the company no longer updates this data, but one look at the chart is enough to understand the level of demand for services of the exchange in the last quarter of 2017. At the peak Coinbase has added 100 thousand users in one day.

One of the problems faced by Coinbase on the background of rapid growth of the customer base is the rate of customer identification. At the moment the company is not able to provide quick verification of users immediately after registration.

To solve this problem, Coinbase has replaced the existing system of verification of new, created on the basis of machine learning. The company claims that the new system was able to successfully confirm the identity of about 90% of the customers.

Coinbase also announced the signing of a cooperation agreement with new partner identification, in order to ensure balance during periods of peak load. The name of this company was not specified.

As for the remaining 10% of users that cannot be identified with the new system, in most cases the problem is in the downloaded documents, says Coinbase. The identification system will not be able to check, if the downloaded images are cropped, have low resolution or blurred.

Previously in such cases, users have to contact and solve this issue with customer support, but it took time. Now, if verification can not be hold, Coinbase to send automatic email notification to the customer stating the reasons why he failed to complete the verification process, and possible solutions to this problem.

The new verification system already running on the exchange website. In mobile applications it will be introduced in the coming weeks.

Recall that earlier this month, Coinbase have found another problem – an additional fee on VISA and Mastercard with the purchase of the cryptocurrency.

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Hacked exchange Coincheck lifts ban on withdrawing Fiat money

Japanese cryptocurrency exchange Coincheck, at the end of January suffered from major hacking, next week will resume the possibility of withdrawal of the yen (JPY) from client accounts.

In a statement the company said that the ban on the withdrawal of Fiat currency was made to “protect and to ensure the integrity of customer assets” after a hacker attack.

“Currently, all consumer assets in JPY stored on personal accounts of clients of a large financial institution. We plan to resume normal operations at the conclusion JPY February 13 and will process the applications of customers in the order they are received,” — said in a statement.

The company specifically said that the date of the lifting of the ban on the conclusion JPY has nothing to do with her promise to compensate 260 thousands of the victims of the hacking clients lost funds.

Other functions are temporarily disabled by the exchange after a hacker attack, will resume after Coincheck ensure the safety of their work, confirmed in a statement.

Two weeks ago the management of Coincheck has confirmed that the exchange has become a victim of burglary — stolen was about $500 million in cryptocurrency NEM. After the incident, the Minister of Finance of Japan Taro ASO (Taro Aso) has demanded that the cryptocurrency exchanges of the country to strengthen the internal systems of cyber security.

A week after hacking by the financial services Agency of Japan (FSA) raided the offices of Coincheck, and other cryptocurrency exchanges have requested information on corporate management systems, asset management, and cyber security.

The results of the study obtained reports on several cryptocurrency exchanges FSA plans to conduct on-site inspections.

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Accenture’s patented technology «editable blockchain»

Accenture received a patent for technology «editable blockchain,» reports CoinDesk.

Why was it necessary to deprive blockchain technology one of its key qualities — impossibility of unauthorized changes in a distributed database explained David Street (David Treat), Executive Director of Accenture at the blockchain practice. According to him, the decision gives the opportunity to correct data in case of errors or fraud.

However, change is not so simple. To protect use the security key which can be controlled by one or more parties. In some cases the key can be distributed among several participants. This means that you to authorize access to the registry modification can only be made collectively.

“This invention of adding to the set of options, especially for chained data structures, and we are very pleased with the approval of the patent. Our common goal is to use innovation DLT to make the technology viable for use by IT companies,” said David Street.

Despite the patent, the work on the technology is still ongoing, he explained. Trit made the likelihood that the company will open the solution code:

“We have a strong interest in the industry, and there have been several requests in the menu code that we are considering”.

We will remind, earlier it was reported that Accenture was among the three leaders among the companies leading development in the field of blockchain.

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Ryan Taylor: Central banks of the cryptocurrency is the inevitable future

CEO Dash Core Group Ryan Taylor (Ryan Taylor) believes that the issue of digital currencies Central banks (CBDC) is the “inevitable future”, but to decide what form of money to use, there will be people. He said this in an interview with Cointelegraph.

Taylor said that Central banks have certain advantages in issuing their own cryptocurrencies, but the questions remain, what form it will take and how the market will react. The “free market may eventually create a better money than government,” he said.

“I really think that it is inevitable. They [the government] are moving — or through the pressure of competition, or on their own — to launch its own cryptocurrency. But I don’t think there will be a Grand innovation,” said the head of the Dash.

According to him, governments around the world will soon come to regulate cryptocurrency. Moreover, smaller countries will move in this question faster, since they have lower risks. Taylor predicts that the world’s largest economy, the United States will begin to regulate the cryptocurrency industry in the next year.

In one form or another, the possibility of issuing CBDC is considering a number of countries, including China, Norway, Thailand and Iran. However, some Central Banks, for example, Korea and Switzerland, believe that such a move carries risks for financial stability. This opinion is shared by analysts of the Bank for international settlements (BIS). The Bank of Japan concluded that the release of the CBDC will not improve the efficiency of the financial system. And the IMF, previously called the Central banks to compete with private cryptocurrency by issuing CBDC, recently recommended that the Marshall Islands to refuse such a step.

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The British startup is committed to implement blockchain technology in the transport system of Malta

The Minister of transport Malta Ian Borg (Ian Borg) in the framework of implementation adopted in this year blockchain strategy for the country announced a partnership that his office had signed with the British blockchain startup Omnitude to improve the service of public transport. P predpolagaetsya to create a transport and logistics blockchain platform as a whole will serve as the “development improvements in the operation of vehicles”.

The head and founder of a startup Chris painter (Chris Painter), explaining interest in working with the authorities of the island nation to explore ecosystems Omnitude, said that the Maltese government is “extremely progressive”.

Recall that recently Omnitude became a technological partner of the British team at “Formula-1” that for the first time presenting the blockchain is a solution for the world championship on a ring auto racing.

As of the end of April, Malta was in the lead most traded cryptocurrency in the world. At the same time, the government of a country that aspires to become a “blockchain-island”, approved three draft laws related to trafficking cryptocurrency, ICO and blockchain technology, presented to Parliament.

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Bakkt acquired the assets of the broker Rosenthal Collins Group

Cryptocurrency platform Bakkt acquired part of the assets of a futures broker Rosenthal Collins Group (RCG).

In Bakkt noted that in December, RCG has announced the sale of all user accounts the largest commodities broker Marex Spectron. In this process, the upcoming launch of cryptopleura decided “to acquire some valuable assets.” In Bakkt sure that these assets osposobljaet development of the company, and employees of RCG will strengthen the team of the new platform.

«We expect that the transaction will be completed in February», — said CEO Bakkt Kelly Leffler.

Also the head Bakkt sure that the new acquisition will improve risk management, financial management and compliance platforms to regulatory requirements and increase the efficiency of procedures AML/KYC.

All of this, Leffler believes, ultimately will contribute to the mass adoption of digital assets that will eventually become mainstream.

«This acquisition confirms the fact that we are not sitting idly by waiting for approval from the CFTC, she added. — Technology of the distributed registry may be the basis of compact and modern platform that is compatible with the existing trading infrastructure.»

ForkLog previously reported that are still pending approvals from the CFTC platform Bakkt raised $182,5 million investment.


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Opinion: the rise of the price of bitcoin will begin in the second half of this year

Specializing in cryptocurrency technical analyst under the name Galaxy came to the conclusion that a new rally of bitcoin prices will start in the second half of 2019.

According to Galaxy, to know the future, you need to study the past. In support of this thesis he cites the weekly chart, where you can see that in the past year, the price movement of bitcoin was almost the same as in 2014. Then the bear market lasted 420 days (60 weekly candles).

After the RSI has reached the «bottom» began the accumulation period, which lasted about six months. Then, in the run-up to 2016 followed by a bull market that lasted 826 days.

According to the calculations of Galaxy, the current bear market is almost over, because since the beginning of the rapid fall of bitcoin prices has passed about 400 days. Moreover, the RSI for the first time since 2015 started from the bottom border.

As before, he said, ahead of the accumulation period with a duration of about six months, and then a meteoric rise, both in 2016-2017

In comments to the tweet soon came the skepticism that Galaxy too optimistic, and that history is not repeated:

ForkLog previously published forecasts from leading representatives of kryptonyte.


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Mariah Carey, Marilyn Manson, Alice Cooper and more than 40 artists sell their songs for Monero

48 well-known artists and music groups that have joined the initiative of the Coral Reef Project, would receive payment for their creativity cryptocurrency Monero. The list of participants is provided performers Mariah Carey (Mariah Carey), Marilyn Manson (Marilyn Manson), Alice Cooper (Alice Cooper), Lana Del Rey (Lana Del Rey), DISI (G-Eazy), SIA (Sia), Roger waters (Roger Waters), band Anthrax, The B-52s, Weezer, Judas Priest, Mötley Crüe, Motörhead, Scorpions, Slayer, and others.

The majority of participants exhibited their work for sale on the online platform with a 15% discount.

Coral Reef Project was created by entrepreneur and angel investor Joshua Jane (Naveen Jain) and the lead developer of the project Monero Picardo’s Spanie (Riccardo “fluffypony” Spagni) in order to increase awareness and use of the cryptocurrency for daily purchases. The project is financially supported through the crowdfunding system Forum Funding System 180 anonymous users and processing service GloBee.

Recall that the Icelandic avant-garde singer björk (Björk) decided to sell his ninth album Utopia bitcoin, Litecoin, Dash and Audiocoin.

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The Central Bank of the Russian Federation plans to legally define the concept of cryptocurrency and the ICO in the first half of 2018

The Central Bank of Russia plans to complete the legal definition of crypto-currencies and related instruments in the first half of 2018 in accordance with the instructions of the President of the Russian Federation. It is reported by RNS, with reference to the statement of the first Deputy Chairman of Bank of Russia Sergey Shvetsov, made on the sidelines of the scientific-practical conference «Legal regulation of financial market: traditions and innovations».

«The ruble is the only legal tender on the territory of the Russian Federation, we believe that. Plus there is the order of the President to create a legal entity that describe tryptomer than we and the Finance Ministry are doing now,» — said Shvetsov.

According to him, to complete this work is planned for the first half of 2018. Shvetsov explained that the changes will be legislated: «it is Unlikely that regulations can be adjusted to new legal entity».

We will remind, earlier Russian President Vladimir Putin instructed by July of next year to define the legal status of digital technologies and to provide for the regulation of cryptocurrencies and holding ICO.

The state Duma planned to adopt draft law on the regulation of crypto-currencies before the end of the autumn session, and the Ministry of economic development came up with the idea to develop laws about cryptocurrencies on the basis of test results of their use in the «legal sandbox».

 

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