Co-founder of Reddit: Ethereum in 2018 will cost $15 thousand

Co-founder of social news website Reddit Alexis Ohanian (Alexis Ohanian) did a very bold prediction for Ethereum. According to the Internet entrepreneur, by the end of the year the price of cryptocurrencies will reach $15 thousand.

In an interview with Fortune Ohanyan, who is currently working in founded in 2012, venture capital firms, the Initialized Capital, said:

“I still hold a little bitcoin, I think BTC is already conquered, the share of attention that he will continue to be a means of savings. I’m the most optimistic about Ethereum, simply because people actually build on it.”

As examples of successful apps built on Ethereum, Ohanian called the sensational “cryptoquotes” — CryptoKitties, noting that “the first version of many things often looks like a toy”.

On a direct question about the forecast rates for the two most popular cryptocurrencies Alexis Ohanian said:

“At the end of the year bitcoin will be worth $20 thousand. And Ethereum will cost $15 thousand. Great, now people can call me if I’m wrong”.

If bitcoin is the co-founder of Reddit actually predicted the return of the December high, then Ethereum, according to his forecast, should for seven months of the year grow by more than 22 times. Market capitalization is the second cryptocurrency should reach nearly $1.5 trillion, significantly exceeding the total value of bitcoin is approximately $340 billion.

We will remind, well-known financial analyst Tom Lee (Tom Lee) earlier predicted that the price of bitcoin by the end of 2018 will reach 25 thousand per coin. He later confirmed his prediction.

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IBM plans to actively engage in the study of blockchain technology in France

Tech giant IBM plans in the next two years to hire in France, approximately 2,000 new employees, many of whom focus on the work in the application of blockchain technology. This was announced by the head of the company , Romitti VA (Virginia Rometty) in an interview with French Le Monde.

According to Rometty, these professionals are required to undertake research in the framework of several projects which she did not disclose. At this moment IBM is working in France with Crédit Mutuel, Orange Bank and Generali, the national railway network and the company Moët Hennessy Louis Vuitton SE (LVMH).

Recall that in January, IBM began a search for 400 researchers to participate in projects devoted to developments in the field of artificial intelligence, blockchain technology and IOT. In 2017, according Upwork, the demand for employees related to the blockchain-industry has grown 35 times. And on AngelList number of kryptovaci doubled for the first 3 months of this year.

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Samsung phones are the safest devices for cryptocell

According to Samsung, the smartphones are the most secure devices to work with cryptocurrencies.

Senior it consultant and author Samsung Insights Joel Snyder (Joel Snyder) recently published an article in which he explained why this is so. According to him, smartphones are more secure than laptops and other devices, thanks to the presence in them of a secure execution environment (Trusted Execution Environment, TEE).

Most smartphones have a native Wednesday TEE that works as a separate execution environment with its own memory and storage, isolated from the main storage device. Accordingly, even an operating system such as Android, cannot penetrate into the TEE and to initiate changes in it.

Because of this, even in the case of a hacker attack or security breach, the intruders will not be able to get to the TEE and steal information such as private keys of cryptocurrency wallets.

While laptops and PCs rely on the usual blocks of storage such as a hard disk or SSD, so the hacker can easily access them and steal valuable financial information, including data cryptocell, which can lead to loss of funds stored in the digital assets.

«That’s why smartphones have an advantage over laptops and desktops for cryptocurrency wallets: when there are no advantages of hardware TEE, keys more vulnerable. However, there is one important point: the naive developer can store crypto keys in a conventional internal memory and in this case additional protection from smartphone usage will be minimal. Or the wallet itself can be malicious, then all the benefits disappear. But with the right purse to take advantage of TEE of smartphones, there is no safer place to store your money,» explained Snyder.

Recall that in October, Samsung created a setup for bitcoin mining of the 40 obsolete of smartphones. Their design, presented at the conference for developers, the company wanted to show that aging gadgets can not only be used for its intended purpose.

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CBR will increase attention to the financial literacy of the population after a case in Obninsk

The Central Bank will pay more attention to improve the financial literacy of the population after a case of buying “bitcoin” with hands in Obninsk. About this TASS said the head of the service for protection of financial services consumers of the Bank of Russia Mikhail Mamuta on the forum Finopolis.

We will remind, earlier it was reported that in Obninsk two citizens sold the man two souvenir coins for a thousand rubles, calling them bitcoins.

“This case is ahead of our understanding of the risk a little bit. Is the word “bitcoin” and it turns out there is some category of people, which is enough to say — “we sell bitcoin”, and they are ready to buy it, because this is related to the idle rich. They do not know what bitcoin is. And that it is impossible so to buy them does not occur”, — said Mikhail Mamuta.

The Bank will pay greater attention to the topic of financial literacy during the upcoming international week of the investor under the auspices of IOSCO, he said:

“I think we will devote some attention in the context of financial literacy, to try at least a basic level of such errors, and risks that arise for people, to minimize the”.

Mamut noted that bitcoin and cryptocurrency is no emission center and has no jurisdiction, so to protect the rights of consumers in such transactions impossible:

“Because they are committed outside the jurisdiction, to challenge them somewhere. Where these contracts is unclear. It is very important to understand — in the case of falling prices, but also any violations associated with this operation, to make a claim. And protect we can’t, the court can’t, nobody can. This is totally the game with your eyes closed in a dark room with an unknown number of sharp objects around.”

Earlier, the Bank of Russia has spoken out against the idea of legalizing cryptocurrencies, however, expressed support for the blockchain technology that lies at their base. Later, the head of the Central Bank Elvira Nabiullina said that the Central Bank discusses the creation of a national digital currency based on this technology.

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Ripple left in the power «bears»

Ripple by Friday, may 11, remains under pressure. On the second day of a wave of sales across the spectrum of the cryptocurrency market naturally “hooked” and Ripple, which was in a weak position. The current price of XRP – $0,6790, crypto currency weakens by almost 10% compared to yesterday’s values, says Dmitry Gurkovsky, senior analyst at RoboForex.

Right now, the bearish trend is the $0,7800. While the price is below this boundary, the sellers plenty of chances to continue their work. This level is now a resistance line for Ripple. In the short term, we cannot exclude the recovery positions of the virtual currency, but it is doubtful that Ripple in time will be able to break above $0,7800 and $0.7900 before.

Key support for XRP is at $0,7234, key resistance is at the value of $0,7800. The MACD on the daily chart remains positive, but declines and is ready to fall into negative territory, strengthening the signal to sales. The Stochastic oscillator continues to decline, while in the negative zone, and confirms the sell signal.

Among fundamental news worth noting information about the expansion of the use of blockchain technology platform Ripple. We are talking primarily about the early days of the Blockchain Ripple subsidiary of cryptocurrency exchanges Coinone – CoinoneTransfer.

The blockchain is needed to effectively build a system of international money transfers. Using this technology can reduce the Commission to speed up the process of transactions and, overall, reduce costs for operations of any size.

In this case, the company intends to use the technology xCurrent, which will track payments on a corporate network RippleNet. Contrast xRapid that is not required the token Ripple. As already known, the use of xRapid can save up to 40-70% of the funds in the process of transfer of money – maybe xCurrent it will be even more effective. As for speed, the average transaction for cross-border payment previously conducted for 2-3 days. With xRapid it lasts for a few minutes, and xCurrent, I think, will be about the same.

As mentioned repeatedly, the wider application of technologies offered by the company Ripple, the better for the cryptocurrency. Coinone company handles a significant amount of payments (it is estimated at $45-50 million per day), and therefore needs to accelerate processes. The greater the speed of the payments, the higher will be the popularity of the operator. If in the process get to develop the direction of payments for the countries of South-East Asia, the company will acquire a new volume customers. This is a good thing for Ripple.

Attention!

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.

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The ban on ICO in China can be withdrawn after 18 Oct

Ban ICO in China could be a temporary measure, designed to appease international agencies and ardent supporters of the Communist ideology before the upcoming Congress of the ruling party of the country. This opinion was expressed by an Economics Professor Panos Manducatis in his column in Forbes.

The scientist believes that the Chinese government and banks are unable to tolerate bitcoin, because bitcoin threatens their existence. In the long term, Bitcoin is able to replace the yuan as cash.

However, in the near future this is unlikely to happen. The Bitcoin economy is too small to be a real threat to the Chinese government and banking system, which it owns and operates.

For this reason, something else has to stand behind the decision to ban the bitcoin, says Manducatis. For example, the desire of Beijing to demonstrate to the international agencies such as S&P Global that the authorities are well in control of the financial system and credit conditions of the country.

If so, then the decision to impose a ban on ICO did not bring the expected result. Last week S&P downgraded the Global China in its ranking.

In addition, at the upcoming Congress of the ruling party, which will take place on October 18, fans of the Communist ideology, most likely, will be interested in how well the party leadership is struggling with innovations that threaten the party’s control over the economy.

After the Congress the need for such measures will disappear, he said.

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Presented Bitmain ASIC device for mining Decred

Chinese mining giant has introduced a new Bitmain ASIC device on the hashing algorithm Blake256: Antminer DR3, which is created for mining cryptocurrency Decred (DCR), which occupies the 30th position in terms of market capitalization ($321,994 million) in the CoinMarketCap list.

Feature Decred is to ensure the stability of the system combined mining PoW/PoS with additional validation blocks. It is expected that the Antminer DR3, wherein the power consumption in watts at 1410 Hasrat of 7.8 TH/s and price of $673 and improve the efficiency of the network. At the same time, the community of enthusiasts Decred there are fears that the deteriorating reputation of Bitmain may have a negative impact on the project as a whole.

We will remind that recently the head of the Bitmain Wu Jihan (Jihan Wu) announced the release of 7-nm processor on the basis of specialized integrated circuits (ASIC), the hash power and power efficiency which is much higher than previous models. However, informed analysts at AllianceBernstein reported that Bitmain may lose the advantage in the development of equipment in the background of a potential problem with the income.

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Japanese FINTECH company announced plans to launch cryptocurrency exchange

Company Money Forward Inc (MF), operator of one of the most popular applications for managing personal finances, has announced plans to launch this year, the cryptocurrency exchange.

For the project the firm has already registered a subsidiary company Money Forward Financial, headed by a member of the “Laboratory of the blockchain and virtual currencies” MF.

In a press release Japanese FINTECH companies reported plans to first launch in the summer of 2018 media cryptopleura, then the exchange of crypto-currency assets. In follow-up should be a system of transfers and payments for digital assets, research for which is conducted by the Laboratory of the blockchain MF.

At the end of 2018, the year the Japanese FINTECH companies were registered 5.5 million users of the app to manage finances. About 500 thousand enterprises and 2.4 thousand accounting firms use a cloud service accounting MF.

Notably, about plans to open a cryptocurrency exchange, the company said amid the stricter regulatory requirements of Japan’s industry. After a large-scale hacking of Tokyo crypto currency exchange Coincheck in January, the financial services Agency (FSA) beginning of test exchanges, the results of which were given not only administrative regulation, but even temporarily suspended operation of some companies.

Some already worked in the country kryptomere Japanese were forced to announce the cessation of activities. Foreign Binance and the Kraken decided to curtail activities in Japan.

In the beginning of may, the FSA announced the preparation of new requirements to cryptocurrency exchanges.

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Bittrex will not add to the Bitcoin Private listing

Bittrex exchange has said it will not add to listing Private Bitcoin (BTCP) is a new cryptocurrency, which must be separated from bitcoin the other day.

It is noted that due to problems with the wallet ZClassic, in particular, the suspension of the input and output of funds to holders of ZCL will be offered partial support for BTCP and they, unlike holders of bitcoin will be able to claim the new coins.

«We will do our best to earn coins BTCP holders ZClassic, but until we have fully supported purse we cannot guarantee the receipt token», — stressed in Bittrex.

In Bittrex is also recommended to cancel all the conclusions of ZCL in the standby mode, since this feature will not be available until you have taken pictures of the block chain and will not be restored the operability of the purse ZClassic.

Stock exchange representatives believe that coins BTCP will be available about a week after starting the main Bitcoin network Private.

As previously reported, the new cryptocurrency Bitcoin Private will combine features of bitcoin with innovations in ZClassic. The ZCL and BTC will be made on February 28. Hardwork will be in about two days after that.

While Private Bitcoin supported multi-currency wallet Coinomi and two cryptocurrency exchanges: HitBTC and TradeSatoshi.

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The head of the Central election Commission of the Russian Federation proposed to rename the blockchain

Chairman of the Central election Commission of the Russian Federation Ella Pamfilova believes that the introduction of blockchain technology in Russia it is necessary to change the name. The head of the CEC, said during the scientific-practical conference “Elections. Today and tomorrow”.

“To advance in Russia this technology in different spheres need some kind of rebranding, because the name even… Russian some substitute is needed. There is a kind of mental aversion to this name. The block is from some kind of enclosed space,” said Ella Pamfilova.

However, according to the head of the CEC, not only the term “blockchain” needs to rebrand, she asked participants to think about new names for the ballot boxes and polling box. Pamfilova believes that these concepts also evoke negative associations.

Earlier, Ella Pamfilova admitted that the next presidential elections in 2024 can be done with blockchain technology. Already tested the use of DLT for elections in Switzerland, Ukraine and Japan.

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