Analysis of prices of BTC, LTC, ETH (13.12.18)

BTCUSD: Bitcoin remained in positive territory trading environment, rising to $66 to $3429. Pair resumed growth and not having tested the support of $3200, but in today’s trading initiative again bears the BTCUSD rate is reduced the last 6 hours. Alligator moving averages indicate a consolidation at the current levels, and the dynamics of the MACD on the price going up. Buy signal the rebound from $3200 – still in force.

LTCUSD: Litecoin was trading BTCUSD similarly, failing to win back the losses Tuesday of $1 (closure environment — $22,95). However, the pair has been corrected down in today’s Asian session, in the framework of the current lateral dynamics. Success can be considered a long-awaited test of support of $20,70, on the rebound from where you plan to buy again. MACD and Alligator observed the downward trend.

ETHUSD: the Ether was a bit of volatility Litecoin trading range on Wednesday amounted to little more than $4 ($84,24-$89,07), while the auction ended with the growth by $2 to $88,07. Momentum is also downward. As in other cryptocurrency pairs to open from the current levels is not planned, waiting for testing one of the boundaries of support and resistance.


Malakhov offered to call the son Bitcoin «for purposes of the legalization of cryptocurrency»

Today TV presenter Andrey Malakhov was born. As reported by the media, commenting on the event, the happy parents have not yet decided on a baby name, wanting to first look at the nature of the baby. Representatives blockchain platform Ecu, using this fact, Malakhov offered to call his son Bitcoin.

The TV presenter offered a decent reward for the fact that he actually named his son «for the needs of the legalization of cryptocurrency»:

«Dear Andrey! Congratulations on the birth of their first child, we wish you health and well-being of Your entire family! You’ve probably heard that in our country there are discussions about legalizing cryptocurrencies. Offer you to contribute. Specifically, to name the son Bitcoin. Bitcoin Malakhov – loud, stylish, modern. This will help the introduction of the blockchain and cryptocurrency in our lives that meets the trends of progress», – stated in the official offer platform Ecu.

Instead, the blockchain platform are willing to pay leading 1 000 000 ECU. The authors argue that after the ICO project it will be about 125 bitcoins, or approximately one million dollars at the current rate.


ECB discusses legal constraints for digital currencies

The European Central Bank is discussing the issue on the use of certain legal restrictions, as the hype around digital currency “dangerous and deeply doubtful,” said ECB Council member Ewald Nowotny (Ewald Nowotny) in an interview with the weekly Trend.

“Bitcoin is not a currency, it is highly speculative and volatile, not subject to any control, and the movement in the stock market over the recent period clearly gives to understand it. In China, there is a special problem because bitcoins are used as a means of withdrawal of capital and bypass the legal norms, and we at the ECB discussed the legal restrictions,” said Ewald Nowotny, Governor of the National Bank of Austria.

He did not disclose what it can be measures and what position the European financial controller will take in relation to the initial placement of coins (ICO). Many regulators believe that some tokens may be assigned to the securities and must be governed by the relevant rules.

However, in recent years the collection of funds through ICO was banned in China, then this path followed the South Korean authorities. In Switzerland, the regulator began checking some of the IPOs of coins.

Earlier warnings about the risks of investing in the ICO issued a number of regulatory bodies in several countries, including USA, UK, Gibraltar, Dubai and Malaysia.


Bitmain mining pool controlled by the activated algorithm AsicBoost

One of the leading mining pools of bitcoin AntPool, which is under the direct control of the Chinese mining giant Bitmain and has 13.7% of the total Hasrat network, according AsicBoost Block Explorer, block 540032 activated algorithm AsicBoost.

This algorithm is ambiguously perceived in cryptosuite, as it allows a 20% reduction in time and resources for mining cryptocurrency due to the removal of the mathematical operations to find a suitable hash. Since the algorithm is proprietary code and is used with permission of the owner of the relevant patent, experts see it as the risks centralization system and the contradiction of the very idea on which is built a public network of bitcoin.

Last week, according AsicBoost Block Explorer, the algorithm used in 4% of the extracted blocks, and its activation recorded from outside the top ten of the largest mining pools: F2pool, Slushpool and BitClub.

Previously Bitmain has several times been accused of using AsicBoost as a “mathematical trick” to mine bitcoin faster than it competitors. However, the company argued that AsicBoost was used only for testing and has never been applied in the basis of the network.


Ethereum is still «in limbo»

Ethereum is reduced. On the morning of Thursday, August 30, the value of the virtual currency is USD 284,47, the loss is estimated at 1.5%. The price continues to retreat after the breakdown of the $298,30 and $294,00 informed that “pulled” the gap “bullish” trend, says Dmitry Gurkovsky, senior analyst at RoboForex.

The market tried to buy Ethereum, but towards evening it became clear that the preponderance of forces on the side of “bears”. Ethereum has retreated to the support level of $290,00 after successive breakdown $298,30 $294,00. Moreover – today bitcoin went under $of 285.00, but even before the good customers bought this “slide”.

At the moment, is to observe the region of $283,00-284,00. If “bears” manage to “push” it down, the new interim support will arise only from $280,00. It is possible that in the short term, Ethereum will remain in the range of $280,00-283,00 if there is no reason “boldly” to redeem these sales.

Major support for the virtual currency, therefore, is around $280,00. Significant resistance is at $295,00. The MACD on the daily chart is barely noticeable growing up but still is in the negative zone and is not giving a clear signal. The Stochastic oscillator showed a local decrease in the positive zone, making a buy signal is weaker than before.

Among the interesting for Ethereum fundamental news worth noting information about the release of the National research Institute of Canada (NRC), a new browser blocks of Ethereum. The application is easy to search for and store various information. The users working with it can search data, including published and grants.

The idea is to demonstrate the possibilities of applications based on blockchain technology. If the work is convenient and effective, other government agencies will be able to learn from this experience. Among the positive aspects, important for any organization to run applications by optimizing or storage of information is minimal risk of external attacks. It cannot be excluded that in the future this will become a decisive argument in favor of the blockchain.

Despite the decline in Ethereum lately, his production remains one of the most promising. So says the founder of Atlantic Crypto, Mr. Ventura (Brian Venturo). Production of one unit of Ethereum is estimated at 152 million, which almost twice below the market value of the cryptocurrency.

Venture is based on the price of electricity in residential buildings of the United States and several other countries, although it is recognized that the difference in cost kWh may vary considerably depending on the country. In some cases (when the low cost electric energy) the price of production Ethereum can be no more than 50 USD, and miners willing to move to the regions with such favourable conditions.

In the near future is to carefully observe the news concerning Ethereum. August 31 will host a meeting of developers where you will discuss the issues of inflation cryptocurrency and amount of remuneration for the units. Previously, the holders of the coins were for low rewards per block to 1 ETH from the current level of 3 ETH.


Forecasts financial markets are private opinion of their authors. The current analysis is not a guide to trade. RoboForex is not responsible for the results that can occur when using trade recommendations submitted reviews.


RAEC described the concept of cryptocurrency and distributed technology registry

In Russia in the framework of the development of norms of legal regulation in the field of cryptocurrency and blockchain technology introduced the terminological dictionary. Prepared by the Russian Association for electronic communications (RAEC) the document contains 8 pages and gives the description of such concepts as cryptocurrency, distributed registry, smart contact and token. But, for example, the concept of mining in the list are not included.

According to “Kommersant”, the definition may affect the regulatory approaches, for example, by the security services, and therefore still being worked out by several organizations: the Central Bank, “Business Russia” RAKIB and the government of the Russian Federation.

Cryptocurrency is described in the document “technology-neutral” as the appearance of property:

Cryptocurrency is a generated and recorded through application of information and telecommunication technologies property not nominated in currency of the Russian Federation or of foreign States, which can be used by unspecified persons to make payments and is not thus electronic cash.

Cryptocurrency is not legal tender.

In this definition to the definition of take a page and is “not tied to a specific technology like the blockchain, it can equally work in respect of cryptocurrencies, where there is no Issuer/system operator.., and in respect of cryptocurrency may be present elements of administration”.

A distributed registry data is interpreted according to the “constitutive basis”, implying “an automated procedure for verification of the record by applying pre-defined algorithms”:

The decentralized registry data and information system, including a database of distributed type, which contains information about certain facts and (or) records law to certain property, the confirmation of which is carried by pre-defined algorithms”.

Smart contracts are treated as “optional design, for example, records in a distributed database.”:

A smart contract is an agreement of the parties, existing in the form of program code operating in a distributed data inventory, which provides cloisonnement the terms of this agreement on the occurrence of pre-defined in this circumstances.

Because the smart contract is presented as a software code, the authors of the document stressed that he “can be both the object of intellectual property, and contract.”

Describing the tokens, the experts of RAEC for a start, he looked at Wikipedia, and examining possible options came to this interpretation:

The token is a generated and recorded through application of information and telecommunication technologies are the right requirements for a particular object of civil rights, the exercise or transfer of which is possible only through the entry in a distributed registry of rights.

Unlike the token from the crypto-currencies identified in the “nature of the rights on an appropriate object,” which for cryptocurrency involves “a property right absolute (erga omnes), in the case of token property law requirements of contractual nature (there is a specific the person under obligation)”.

Training terminology the concepts of “digital credit” and “digital mortgage” has caused some difficulties. They were listed in the order of the President of the Russian Federation and therefore could not be ignored by the authors of the dictionary. But, in their opinion, and really do not require special definitions and invested in the traditional description of the financial instruments context.

The main author of the Glossary listed Alexander Saveliev, associate Professor of the HSE appearing on the website of the Association as counsel for IBM. At the moment the document is submitted for consideration to the working group “Communication and it” of the Expert Council under the RF government. In addition, at the meeting “year of Russia” on December 13, will be held face-to-face discussion of the dictionary.

We will remind that in October it became known about the intention of Russia to issue its own cryptocurrency. This was ordered by the President of the country Vladimir Putin. At a meeting in Sochi on the “digitization in the financial, banking and innovative financial instruments”, he said that Russia needs a “regulatory environment” for cryptocurrency.

RAKIB estimates the losses of the Russian Federation in 2017 from a lack of legislation by the ICO in 18 billion rubles. Director, center of financial technologies “SKOLKOVO” Foundation Pavel Novikov also said that Russia did not receive any financial gain from $300 million in the last two years have brought Russian start-UPS as a result of the ICO.


The Ministry of Finance of Poland prepared a draft law on the taxation of cryptocurrency activities

In the electronic system Rządowy Proces Legislacyjny (RPL), through which Poland are the new laws were prepared by the Ministry of Finance a bill to amend the approach to the taxation of income of natural and legal persons, received in the result of operations with cryptocurrencies. The decision of the Council of Ministers of Poland on the document expected in the third quarter of this year.

The draft law says that the virtual currency as “a digital equivalent value” can be considered as a means of payment, store, transmit in electronic form and used in electronic Commerce. The Finance Ministry proposes to divide them into “cryptocurrencies” and “centralized virtual currency”.

The authors intend to abandon the idea of levying taxes for the implementation of cryptocurrency transactions, but to levy a tax on capital gains income from sales of property, goods, and services related to cryptocurrency. In addition, under the bill, they will need to specify to annually fill in a tax return. However, the bill provides for a tax on the profit from the sale of cryptocurrency – miners who are natural persons, as well as levying tax on consideration received by a group of persons or entrepreneurs engaged in mining cryptocurrency.

Recall that in winter, national Bank of Poland has launched a website with the slogan “Beware of cryptocurrency” and statement that “Virtual currency is not money” on the home page. Later, the Finance Ministry ordered the owners of the cryptocurrency to specify the gains from trade or exchange of these assets in the tax returns and to pay income tax for transaction with them in the amount of 18-32% and 1% for the transfer of property rights, which caused dissatisfaction among the local crypto community.


Media: cryptocurrency project Basis took the decision to close

The Basis project, which is developing algorithmic stablein, made the decision on the termination of activities and return of investments, according to The Block.

According to the publication, to this decision the project team was forced pressure from regulators, although details are still unknown. Probably algorithmic model Basis, despite high praise from leading members of the community, it is not currently possible to implement in accordance with the regulatory standards of the United States.

Note that at the end of March 2018, the company-developer of the project Intangible Labs raised $125 million through the sale of SAFT contracts. Then, in mid-April, the investments in Basis had increased to $133 million.

This was preceded by a closed round of funding that took place in autumn 2017, when the project was supported by Andreessen Horowitz, Bain Capital Ventures, the Digital Currency Group, MetaStable Capital, Pantera Capital and PolyChain Capital.


Bitstamp exchange will launch trading pair with Bitcoin Cash in December

The cryptocurrency exchange Bitstamp has announced that in the first week of December will start to trade Bitcoin Cash, according to CCN.

The company said that customers will be offered three trading pairs: BCH/USD, BCH/BCH and EUR/BTC.

“We’ve added Bitcoin to Cash to meet the requirements of our clients. Because we always try to remain neutral, we didn’t have any fancy excuses, but we wanted to take the time to see how the market has reacted,” said CEO of Bitstamp , Naik Cedric (Nejc Kodrič).

With the appearance of BCH in early August, a cryptocurrency exchanges and payment services took her against the fence. After almost four months Bitcoin Cash confidently is the third largest cryptocurrency by market capitalization. As a result, more and more exchanges and services expressed support for the BCH.

Last week this was announced by the team of the popular bitcoin wallet Later on support for Bitcoin Cash announced crypto currency exchange EXMO.

According to Kadrich, BTC and BCH may well coexist on the market and they don’t have to fight each other, even if they support one of the algorithms of mining.

“We see them as different currencies. Ultimately, the market will come to the decision as to examine the relationship between bitcoin and Bitcoin Cash”, — concluded NAK Kodrich.

Earlier, Bitstamp announced a partnership with independent payment processor Masterpayment.


In Catalonia consider the establishment of a system of voting on the blockchain

After October, the Generalitat of Catalonia approved the draft law on the establishment of a system of electronic voting for citizens at the time of elections abroad, the government of the Autonomous community is exploring the application of this solution to blockchain technology.

According to the Professor the Open University of Catalonia (UOC) Ismael peña-lópez (Ismael Peña-López), it is expected that by 2020 the system will be launched and will be fully available for the participants of the voting. In order to avoid risks at first want to use only for those who voted abroad, then early elections and the third stage, for all citizens. Peña-lópez explains that the use of blockchain technology in Generalitati aroused interest, however, for decision-making are studied and other solutions that can ensure the reliability of the system.

We recall that a year ago the regional government decided on the establishment of a parallel cloud-based economy on the blockchain, as well as think about issuing its own cryptocurrency. In addition, it appeared that some of the expenses for the organization of the referendum on the independence of the authorities covered in bitcoins in order to hide the participation of third parties. And this summer, the ruling party of Spain encouraged the government to use the blockchain to increase the efficiency of public administration.