The Ministry of justice of Russian Federation re-classified the cryptocurrency as «other assets»

Cryptocurrency can be classified as an object of civil rights and to be subject to obligations. This is stated in the official statement of the Ministry of justice, published in the Telegram-channel « Initiative group».

The document States that bitcoin cannot be considered electronic money.

«The holder of electronic money may demand the Issuer, but the owner of a cryptocurrency no such right», — stated in the answer of the Ministry of justice.

The Ministry of justice believes that the cryptocurrency can be attributed to the object of civil rights, as it «is capable of separation and has the property values that is recognized trafficking».

«Cryptocurrency can be the subject of obligations, as well as the object of protection of the delicate rules of law. In this regard, cryptocurrency can be attributed to «other assets»», — concluded the Ministry of justice.

That the Ministry of justice is considering cryptocurrency as «other assets» became known in may. Then acting Minister of justice Alexander Konovalov said that if digital money is not property, their theft could not be considered a criminal offense.


Huobi combined exchange cryptooperation with the core platform

The fourth volume of trading, the exchange Huobi has announced the integration of the derivatives exchanges (Huobi DM) platform Huobi Global. About this magazine ForkLog said the representatives of the company.

«With the expansion and development of the cryptocurrency market experienced traders often require a wider range of tools. Integration of DM with Huobi Huobi Global will help to better meet the needs of users, as we offer a full range of trading services in one convenient location» — said the CEO of Huobi Global Livio Weng.

Huobi DM enables users to open long and short positions on bitcoin and ether.

Weekly, fortnightly and quarterly contracts on Huobi DM

According to representatives of DM Huobi, these derivatives can be used not only for speculation on fluctuations in prices, but also to hedge risks.

Huobi also has a capital of 20 000 BTC, which is designed to protect users from losses due to various force majeure, including failures on the platform.

The Board of teyker is 0.03%; maker — 0.01%. The leverage available in the range up to 20:1.

Note that Huobi DM is unavailable to users from USA, Singapore, Israel, Iraq, Hong Kong, Cuba, Iran, North Korea, Sudan, Malaysia, Syria, American Samoa, Puerto Rico, GUAM, Bangladesh, Ecuador and Kyrgyzstan.

Recall that the beta version of Huobi DM was launched in late November.


Analyst CoinDesk: There is a chance the imminent upward correction

For the first time since Jan 2015 14-week relative strength index (RSI) was below $ 30.00. According to the analyst CoinDesk Omkara of Godbole, so deep oversold may indicate the exhaustion of the bears.

Many experts of technical analysis argue that the RSI dip below $ 30.00 often is a strong upward correction. On the other hand, if downward movement is strong and is accompanied by large volumes of trading, this indicator can stay in overbought zone for quite a long time.

Now bitcoin is trading around $3400. For the last day weighted average price Vispoel by 4.17%; in the last seven days — 14.5%.

Weekly chart

The price of bitcoins came close to the 200 MA, which, according to many experts, is a key support level near $3000.

At the end of January the RSI quickly came down below $ 50.00 on a weekly chart, prodigalities about mood swings on the market. As already mentioned, the indicator now at levels below 30.00, that is, oversold.

Also note that in the distant by the standards of the cryptocurrency world 2015 RSI stayed below $ 30.00 very long.

Daily chart

Price continues to trade below the descending trend line. Moving averages with periods of 5 and 10 are still moving South, hinting about the dominance of sellers in the market.

In the next day or two bitcoin could meet the 200-week MA at $3179. This level can withstand the pressure of bears, given the oversold on the RSI.

However, if the price crosses the 200 MA, the bearish sentiment could significantly increase. In this case, the next stop will be the $2972 corresponding to the September minimum.

To escape from the clutches of bears, bitcoin first you need to climb above the descending trendline on the daily chart. However, the market sentiment has changed dramatically, it is necessary to overcome the mark of $4400, corresponding to the maximum of 29 Nov.

We will remind, several days ago the bitcoin price updated at least 2018.


In October, Raiden goes to the ICO Network a token RDN

Raiden developers Network officially announced the release of token Raiden (RDN), which will be offered to investors in the course of the ICO in October. The initial placement of the coins will be held on a “Dutch auction”, that is, the first announced price will be the tallest, and will continue to fall.

New cryptocurrency propose to use for carrying out micro-payments without intermediaries. Immediately after the launch the owners RDN will have access to μRaiden (Micro Raiden), in which unidirectional channels provide frequent, fast and free payments.

Please note that the entity tokens the RDN does not affect the Network Protocol Raiden — Raiden can use the Network, even if they have no tokens.

With this in mind, we believe that the participants Raiden Network will be “thin clients” who are happy to pay a fee for the convenience of not having around the clock support all services.

Recall that Ethereum has launched a test network of Raiden on 6 September. Theoretically, the network will be able to provide more than a million transactions per second. Now a preliminary version of the network is open to developers.


Austrian Bank Raiffeisen has joined blockchain consortium R3

Raiffeisen Bank International (RBI) became the first Austrian banking group that joined the block chain to a consortium of R3.

The RBI group, which manages a network of banks in Central and Eastern Europe, has confirmed its participation in the initiative of the R3 this week, expressing his desire «to share experiences and collaborate with colleagues» and develop their own blockchain initiatives.

Michael Hyuller, Plenipotentiary representative of the RBI stated:

«The use of technology platforms such as Corda, allows us to acquire extensive know-how in basic infrastructure for future commercial applications of the blockchain».

The R3 initiative has already supported more than 160 organizations from several industries, including banking and financial institutions, technology companies and trade associations. Plans to join the consortium also said Russian banks VTB and Alfa-Bank.

In may of this year, the group received more than $100 million of financing, in June launched a beta version of the Corda platform.

And last week, R3 and Microsoft announced the expansion of their strategic partnership in the integration of the DLT platform Corda and cloud service Azure.


Donations in cryptocurrency will help the development of Russian clinics

The charitable Foundation Podari.Life has started to accept the cryptocurrency. This opened a bitcoin wallet platform Coinbase, and now the Fund is ready to work with donations not only bitcoin, but cryptocurrencies such as Ethereum and Litecoin.

Founded in November 2006 by Actresses Dina Korzun and Chulpan Khamatova, the «gift of Life» is the largest charitable Fund of Russia. For 11 years the Foundation has helped more than 40 thousand patients with cancer, hematological and other serious diseases. In 2011, the Foundation opened a sister organization in the UK Gift of Life and Podari 2015.Life in the United States.

A bitcoin wallet Podari.Life on the Coinbase platform fully governed by the provisions of the laws of the United States, where operations with digital currencies officially allowed. This platform allows you to convert bitcoin and other cryptocurrency into dollars, thereby realizing the support of all three sister funds.

The transferred funds will be spent on educational programs to improve the professional level of the Russian doctors, as well as the adaptation of the latest achievements in the field of Oncology in Russian clinics. At the same time donating a bitcoin to British nursing Foundation Gift of Life, anyone will be able to participate in raising funds to purchase the expensive foreign medicines which are not available in Russia, and in the search and activation of bone marrow donors; and to pay visits of foreign specialists for carrying out unique operations in the Center for pediatric Hematology them. Dmitry Rogachev.

«We are the first Russian funds will be able to help with the donations received in the «cloud» currency on a bitcoin wallet for our partner Foundation in the United States. We have organized this fundraiser because we liked the idea of the blockchain for all three partner foundations the essential principles of transparency and lower fees for transactions,» — says the Executive Director of the Russian Fund Gregory Mazmanian.

In the world of nonprofit charitable organizations, donations in the form of digital currency is increasingly becoming the norm. Donors prefer cryptocurrency format for two reasons: first, transfers of cryptocurrency less onerous, and secondly, they have a unique opportunity to track their own donations, and learn exactly how the funds will dispose of them. So crypto-wallets such international organizations as Greenpeace, Save the Children, United Way and the Red Cross.


How was the Russian Internet week and what was said about bitcoin

From 21 to 23 November in one of the pavilions ENEA held a major conference Russian Internet Week, in which the participants discussed the most important issues regarding the development of the Internet and its resources. Special attention was paid to the blockchain and bitcoin, so in the fields of Internet week, a conference was organized Crypto RIW Event. Specialists crypto industry talk about their technologies and, of course, the pain holders of digital coins.

Unattractive ICO

The conference featured speakers from analyst firms and presented their reports on the previous period. In particular, Anastasia Denisova from ICORating said that the projects have reduced fees. The period of decline in the third quarter amounted to more than 70%. Moreover, as emphasized Denisov, the market falls not on the number of projects and their quality, the average bill-a request of the project now is $1−$5 billion.

The third quarter in a row among the ideas are popular projects that want to build dApps on Ethereum, — 86.13% of the market offers. 76.15% of the projects are in industry with only idea without any development and specialists. «You can see the disappointment of the market for the instrument. Well-known companies began to come to Russia, to organize meetings, raise funds here, because in other countries people do not believe in the blockchain. Besides, now the trend has gone into the positioning of both the STO (Security token offerings. — DeCenter), because the ICO is already not credible,» — said Denisov.

About disappointment in the popular fundraiser told Ignat bobrovych of Twognation. Their team refused to hold the ICO, as it considered this method is unprofitable and excessively risky. «When was the smell of money, people wanted 10x. Projects somehow thought (and some think still is) that the user wants to understand the complex system of tokens. But it is not so, especially now that these coins are worse than candy wrappers, they are not wanted».

On the screen bobrovych presented a caricature of the typical exaggerated the developer, which reflects on the uniqueness and thinks that his startup is the most effective, and its internal coin will change the industry. «How often thinking has created projects about the tokens: «They are not wrappers. They utility. Or security. Give two, to be sure! Now we are not going to guarantee a passive income, then the token will be utility. Although it is possible to do security — it is simply (actually not). So let it be 2 token — security and utility. Hurrah!” Agree that it is nonsense?».

In addition, as noted bobrovych, user acquisition much more expensive. According to estimates Twognation, more than 75% of investors who are interested in the product and ready to sign up, drop out in the phase of registration. «People don’t know how to use wallets to store Private Kaew and take full responsibility for his loss and also to understand how the Metamask, MEW and so on. Often user engagement becomes 4 times more expensive than assumed. The cost of the ICO estimated at an average of about 10% of the amount you intend to collect. This amount you need to invest in advance and without warranty of any kind,» says bobrovych.

Regulation and banks

Another existing problem is the opening of Bank accounts on the blockchain and check the ICO said Julia Demski of SBSB. The representative of the company assures that the project can «like jar» in the event that the company and the office will be located in the country of registration and have a full set of technical documentation, have a clear diagram of the transaction with the prescribed procedures of KYC and AML.

Also, if the organizers of the project have experience of Fiat in the financial sector, will not be superfluous to talk about yourself, prepare a cover letter to a banker explaining regarding the submitted documents and the substance of the project, I’m sure Demskie.

About the regulation of the cryptocurrency industry and fixation of concepts in the documents have spoken at the panel discussion «International law of the use of the blockchain». Lawyer Maria Agranovskaya believes that the terms of the SEC does not distinguish between security and utility-tokens. «The SEC is not ready to accept the token as utility, so force all to comply with the rules for securities. And, for example, in Switzerland or Singapore the division is. Everyone is waiting for the official splits. Possible until you will be a major billion-dollar litigation, the jurisdiction will not pay attention to the cryptocurrency. Terms of managed funds is the message of jurisdiction. Classic investors are unable to operate without regulation. The new regulation arises to attract new money in small countries. Serious States do not consider it necessary to regulate the cryptocurrency».

On the same panel discussion, the lawyer Alla Barysheva of Legal Norland said that the banks are not happy to see the project tokens. «Well, when a small country — where every trial is examined individually, the legislation is trying to help with regulation. However, it is expensive, the project should be ready to spend a lot of money on lawyers. In addition, regulators insist that investors were very professional.»

Michael chobanian of the Ukrainian stock exchange shared his experience of creating legal rules. «Approaches differ from country to country. In my opinion, the main thing is to focus on the person, not the company. The average person can for the cryptocurrency forced to pay the tax. Need to lower this interest rate. In addition, people do not want to pay VAT of 18%. Operations with bitcoin should be taxed. I also believe that plain old industry should not use a young virgin and the crypto-industry. No need to create rules for the major players. Otherwise, the crypt will become in the same area, which is now.»

The value of assets and behavior in a falling market

«Bitcoin will cost more because there is a demand. Perhaps we made a mistake that treated bitcoin as assets» — said Anatoly Radchenko from United Traders. The expert is sure that it makes no sense to predict what cannot be predicted, and wait for this is also not necessary. Besides, there is no background on which to draw in assessing the cryptocurrency.

«There are no reliable data. At each exchange the cost will be different. For example, false news form the people’s attitude to the value of the asset, but not really affect price, because no one knows the real price. Rating agencies and their listings for sale. These companies also do not understand,» — said Radchenko.

Investor Lenar Rakhmanov from the Inception of the Fund told about how to survive and make money in an unpredictable stock market. Now with a sharp drop in the value of assets HODL strategy is not working. «Nothing will grow, don’t pray».

However, traders who manipulate their assets, also faces problems. «The constant knocking of the pillars; it is unclear when to enter the market; the classic indicators of assessment often do not work in a falling market and especially in the flat; the few who can earn; dangerous entrance to high-risk projects; unable to determine the direction of the market; no understanding of how people think whales» — lists the difficulties of trading Rakhmanov.

To survive in the market, it is necessary to apply risk management. «Even an ordinary table can help to reduce losses: shall describe the amount of volume on different targets and do not spend more than you planned. It is also desirable to analyze future reports. Because they allow you to see the seamy side. Use margin trade. It allows you to use leverage for trading on the stock exchange,» Rakhmanov said, adding that experts of the Fund has determined its own strategy. «Reversal strategy: rebalancing + averaging + diversification».

On the development of exchanges and platforms for trading said Konstantin Fin Xena Exchange. The specialist explained that earlier, when the industry was in its infancy, exchanges were built hastily and now do not meet the requirements of the market. Some sites did not have stop orders and other tools necessary for the trade. At the moment on the market lacks good intelligence due to the fact that the teams did not understand anything in the industry. «So far none of the users knows how to construct a cold storage exchange. Crypto-assets are beginning to be added to the investment model. There is a signal to the development of interest in the market from large investors. The time for this,» says Fin.

Modern exchange has to operate with high asset class. However, this raises a big problem, which is associated with storage security. Often no one knows there was a break or not. Many sites hold assets in the cloud, and it is wrong.

Also specialist crypto currency exchange gave advice on the selection of quality sites for trading. «When choosing a platform it is important to pay attention to the specification of contracts, how is their price, which licenses are subject to what country are regulated. After all the times without regulation come to an end. It is important to see what tools for analysis and trading are available, as governed by the listing process. Who built the exchange, if it has experts from the financial industry is also a very important criteria for the selection of the exchange,» says Fin.

The development of the blockchain and the industry

In the information field around blockchain technology slept HYIP, and it now remains only those who are really interested in a distributed registry. This was during his speech, said Ruslan Yusufov from Now blockchain-motivation is among the strategic priorities. Business is ready to invest. The only missing information for implementation.

Yusufov gave details of a survey where respondents were 1053 companies from USA, Canada, Mexico, UK, Germany, France, and China. 74% of those polled believe the blockchain and see attractive opportunities for its implementation in your business. 43% of companies are afraid to be late with the introduction of the blockchain. 68% believe that they will lose competitive advantage if implemented in the blockchain. 69% plan to implement with the replacement of existing systems (CRM, ERP, accounting, warehouse and so on). 39% are willing to invest $5 million in the blockchain in the next year.

About professional personnel in the field of blockchain spoke at a panel discussion by the specialists of hr departments and executives. Oleg Lyubimov from SONM said that those people who are willing to go in the draft, I would not like to see in companies. «The blockchain the last couple of years was on the hype, people smell the money and put yourself in the summary line about technology. Those who want to see intelligent and advanced, but they do not risk their main job and are just afraid to come in the industry.»

Dmitry Marinichev from Russian Mining Center agreed with Lyubimov and added that it is harder to find specialists who would be versed in the gland. «This is Russia’s problem. Held the developers can actually make money on their own, they are difficult to buy. However, often there are people who want to do well. With them we work».

Daria Platova from ICObench said that now the cryptocurrency market has decreased interest, but despite this there is a need for technology. «Teams need advanced industry experts, and where to get them, if the industry is very young? The blockchain quickly recognized the lie — kamery will not be able to lie about their abilities. There is a problem in trust. We can’t trust everything that is written in the summary. The candidate needs to be flexible.»

Mykola Velychko from HeadHunter assured that the employer needs to establish itself as a reliable company that has big goals. «The only way to get top experts, they have to believe you. If you want professional, then let’s have more transparency.»

Gleb Shirshov of 2Miners told about the impossibility to find a specialist masternode. «Simply unrealistic. So often we have to take what there is, and then to grow within the project. Indeed, many programmers do not understand the blockchain». In the end, all came to the conclusion that I need to adapt professionals for the blockchain industry.


The Venezuelan government called about the leaked whitepaper El Petro

Recently the government of Venezuela stated that the network had posted «fake information» about the planned launch of a national cryptocurrency El Petro.

In comments to Reuters superintendent of Venezuela by cryptocurrency and related activities Carlos Vargas said:

«Through some online media had published inaccurate information regarding a whitepaper Venezuelan cryptocurrencies El Petro, which we categorically deny».

According to him, the real whitepaper will be formally presented by President Nicolas Maduro «soon». What kind of «unreliable information» was contained in the leaked into the network document, as well as what the media published it, Vargas said.

There are opinions that we can talk about those publications, which said that cryptocurrency El Petro will be released on the platform Ethereum.

In particular, such information contained in communications Hispanic media, who claimed to have seen a whitepaper El Petro. According to them, the first batch of tokens El Petro will be implemented at a discount of 60%.

That cryptocurrency El Petro may be issued on the Ethereum platform, stated in a post on Reddit. The author of the post found in the official website of the Venezuela picture with coins ETH in the name of the file which contains the word «Petro». The same site also published a PDF document with a description of national cryptocurrencies. However, it does not mention neither Ethereum nor tokens ERC20.

Recall, 9 January it became known that Venezuela is preparing to host the ICO. A day after Venezuela’s Parliament declared the cryptocurrency illegal El Petro, the country’s government, led by President Nicolas Maduro, has announced plans for its premine.

Recently it became known that Americans were forbidden to invest in Venezuelan cryptocurrency. The U.S. Treasury has warned citizens who wish to purchase El Petro, about the risk of prosecution imposed on Caracas sanctions. The acquisition of this cryptocurrency will be treated by law enforcement as the provision of credit to the Venezuelan authorities.


Another city in China has launched an investment blockchain Foundation

The city government of Shenzhen (China) decided to support the blockchain of a special investment Fund shortly after this decision was made by the authorities in Hangzhou.

On the establishment of the Fund was announced at the blockchain summit, organized by Shenzhen Association of electronic Commerce of China. In the first phase, the Fund plans to invest 500 million yuan ($80 million) in blockchain-based startups in the city.

Blockchain investment Fund in Shenzhen will be created on the basis of state-private partnership — 40% ($32 million) of funds it receives from the Fund business angel funding, created municipal government in March. The remaining funds of the new Fund will come from the private sector.

Will lead the investment blockchain-Fund Shenzhen two state investment companies controlled by the Commission of the city government. Adviser of the Fund will also become a government official.

Recall that a few weeks ago the blockchain investment Fund was created by another Chinese city — Hangzhou. Xiong’An Global Blockchain Innovation Fund with total assets of $1.6 billion was launched by a private company Tunlan Investment. Advisors to the Fund are known for blockchain entrepreneurs, and the contribution of the city authorities Hangzhou to the Fund amounted to about 25% ($400 million).


Analyze this: the pampas and Dumps

Information is everything. And financial markets information is everything and even a little more. Imagine that someone told you to, of course, the big secret that altain here-here will rise in price? Few people in such a situation would refrain from purchase. This «instinct» and keep pampery manipulators using sharp jumps of courses of cryptocurrency for their own purposes.

Normal pumper will wait for the coin will go up naturally, he uses all means to provoke this growth. Don’t want to believe that fraud schemes are serious people, nevertheless the groups of beginners is not able to influence the exchange rate so that currency began to buy large quantities. Almost all pampery is the movers and shakers of the stock market, and while the legislation did not recognize the pampas and dumps a crime, we have to accept their existence and try to protect their assets from the actions of the manipulators.

PAMP is the artificial «pumping» of a particular coin with a view to increase its rate and sell at the peak value. The scheme works very successfully, and in specialized pump groups of the Telegram the number of subscribers crosses a few thousand.

Understand the mechanics of the process. To increase the value of the asset, it is necessary to provide him a stable demand. Launching a wave, a group of pampero buying the coin on the exchange without any serious reason. Their main task — to convince the inhabitants of cryptomeria that the price increase is due to some serious reasons and will be stable. In support of this idea, throw all the resources from insiders, which in time will whisper to you about the prospects of the coins before the official media that are in the stream of General information will not have time to weed out the wheat from the chaff.

Special role is played by the group in the Telegram, which receives signals about the start of the Pampa on some exchange platform. The participants reported the name of the coin that worth to buy now, and stock exchanges, where it should be done. Trusting this information, the investors may, without knowing it, engage in a manipulative scheme: increasing the demand for money, they raise its price. The least lucky those who will buy a coin at the peak value, failing to realize the artificial nature of the price increase.

For at the pump will inevitably be a dump — a sharp drop in the price of the asset. Inflating the value of the coin to impossible limits, organizers Pampa relieve currency, arranging the dumping immediately for speculative growth. In fairness it should be noted that the telegram channels, specializing in pump and dumps, warn users about the impending «leak», but few have time for the process, which sometimes takes only a few minutes.

Pampa and dumps a crank, usually on ALTLinux with not very high capitalization. It is difficult to imagine what resources should have a person or group of persons to peanut, for example, the same bitcoin.

To protect yourself from involvement in such schemes, capture the main features of a pump/dump of activity on the exchanges:

Information attack — suddenly and without reason driven on the forums, in the telegram, and sometimes, as we mentioned, in the media, says about the same currency in light of its investment attractiveness.

Such information is leaked through insider sources. Even if a best friend tells you about a possible sharp rise of asset information should recheck.

Along with the information attack the organizers of the Pampa is set on the exchange support line, not allowing the asset to fall in value against the intended purpose.

With the help of bots create fake orders that encourage the growth chart.

There is an active buying koina, which had not boded particularly profitability.

Sad but true: any pump can be repeated multiple times. That is, reaching the limit value, the organizers of the ventures merge assets, but the faith of ordinary investors in the promise is so strong that nothing prevents them to raise the price again.

We’re not just telling you about the intricacies of the analysis of cryptocurrencies, so, seeing a sharp increase in an asset, do not be lazy to perform his schedules. Any inorganic growth anyway is there a noticeable. Learn to analyze and not fall into the trap of pampero.

Previous materials:

Two ways of evaluation of the stock market

Trend lines, support and resistance

Entry point and exit

Diversification and deregulation portfolio

Indicators of fundamental analysis

Technical analysis indicators. Part 1

Technical analysis indicators. Part 2

Analyze this: Totem animals market