Coinspeaker Boeing Joins Hedera Hashgraph CouncilAlthough the nascent blockchain and crypto industries are yet to enjoy mainstream investment and usage, developments are constantly taking place. It is believed that blockchain will be considered a mainstream investment channel when institutional investors join the industry. The latest reports reveal that the aerospace titan, Boeing, has joined the governing council of Hedera Hashgraph.Hedera Hashgraph is a blockchain-like network that targets enterprises. As we reported earlier, the company formally announced that it will launch Open Access (OA) on Monday the 16th of September for its mainnet in beta mode. Once it has launched, Hedera Hashtag will strive to support quick development and deployment of supported decentralized applications (DApps). Any developer interested in using the platform for their creations can use it.So far the network has attracted many clients with the latest one being Boeing. The Chicago-based satellite and aircraft manufacturer is now the 10th member of Hedera’s governing council. It joins other major names like Nomura Holdings, FIS Global, IBM, and Tata Communications.How the Council WorksEvery member of this council has a node operating the hashgraph. When this network’s open access launches in September, the companies will also have the capability of using the Hedera Consensus Service. That will let members plug private networks into the public network to benefit from its transaction ordering system.Hedera also alleges that its distributed ledger technology (DLT) can support micropayments, distributed file storage, and support smart contracts. Earlier on August 29, Hedera stated that it plans to start distributing its HBAR tokens. The distribution process is expected to take up to 15 years.The company used a simple agreement for future tokens (SAFT) framework to raise around $124 million through three funding rounds. Approximately 1,000 investors who participated in the SAFT funding rounds will get the first distribution of HBAR tokens.Boeing is currently the biggest commercial aircraft manufacturer globally. Moreover, it is also a major defense contractor in the United States and internationally. The company has made limited moves and investments in the blockchain space up to today and its involvement in the Hedera Hashgraph council shows that it is ready to invest some more in the nascent space.The aerospace giant earlier filed for a patent that outlined a blockchain infrastructure that would help in-flight GPS receivers. It also announced a joint project to enhance the operations of unmanned aircraft.Previously, Boeing’s top rival, Airbus, joined the Hyperledger consortium where IBM has also contributed. Notably, Boeing is yet to comment on the Hedera Hashgraph move.BA StockThe aerospace giant company has faced turbulent times recently after two fatal accidents resulted in the grounding of all its 737 Max 8 fleet worldwide. Its stock plunged considerably after that but it now seems like the BA stock has consolidated and could be ready to rise again.The stock hit lows of $320.42 on August 14 but it seems to be on the road to recovery. Currently, the stock is trading at $362.74 up 0.77%.Boeing Joins Hedera Hashgraph Council
Coinspeaker Donald Trump Lied About Relations With China in Order to Pump U.S. StocksPresident Donald Trump is becoming more and more disturbed with the possibility of U.S. stock slump and is spinning to find victories that he could sell to voters.Together with his economic team, who are often found in contradiction to one another, Trump is searching for a way to stop market fears from spilling over into next year’s presidential election.However, it seems they are having a hard time in reaching the solution. They have flickered between floating tax cuts to claiming they don’t want tax cuts at all. They have been fighting among themselves over which direction to take. They have opposed each other in public.Trump insisted it’s all the Federal Reserve’s fault, while his own assistants admitted much of it is because of his trade war with China. Trump, on the other hand, doesn’t want to give up on the tactic, saying it would make him look weak.If we remember clearly, he said the same thing about the wall around the Mexican borders – that his voters will think he’s weak if he doesn’t get it built soon.However, there was a small glimpse of optimism regarding the possible ending of the trade war with China when this week he said he’s received calls from Chinese officials saying they wanted to restart talks. Trump said:“China called last night our top trade people and said ‘let’s get back to the table’ so we will be getting back to the table and I think they want to do something.”Even though Trump and Treasury Secretary Steven Mnuchin claimed there had been “communication,” Trump’s assistants privately claimed the phone calls Trump described didn’t happen the way he said they did. It seems that everything was a lie – put out only because of the stock slump.Trump now admits that he made up the late night phone call from China so as to manipulate the stock market higher. Private citizens have actually been prosecuted for doing that for personal financial gain. I guess it's OK for a president to do it for personal political gain.— Peter Schiff (@PeterSchiff) August 29, 2019Instead, allegedly Trump was pretty impatient to show optimism that he thinks it might help market boost, so he conflated comments from China’s vice premier with direct communication from the Chinese.Based on what I know, Chinese and US top negotiators didn't hold phone talks in recent days. The two sides have been keeping contact at technical level, it doesn't have significance that President Trump suggested. China didn't change its position. China won't cave to US pressure.— Hu Xijin 胡锡进 (@HuXijin_GT) August 26, 2019Chinese Foreign Ministry spokesman Geng Shuang said he hasn’t heard of this situation regarding the two calls that the U.S. mentioned. He added China hopes the U.S. can “remain calm, return to rationality, stop wrong practices, and create conditions for the two sides to conduct consultations on the basis of mutual respect, equality and mutual benefit.”The imposed language that is coming out of the White House in last few weeks can be summed up to the fact that the economy is showing warning signs Trump didn’t expect, his trade war with China is lasting much longer than expected and yet, he doesn’t want to give in. His grand promise to his voters about building a wall along the southern border has also gone unrealized.Trump apparently would like this accomplishment to run on in 2020 but now he sees that the time is running short to fulfill some of the key promises he made to voters in 2016.He obviously went so far that he recently told his assistants that he would pardon them if they committed illegal acts while building this wall and while his spokesmen insist he was only kidding, Trump has confirmed him being serious about finishing the wall because he thinks it is the key to his reelection.It seems Trump forgot how it is to be a businessman. Otherwise, he would not be fake pumping the stock market. However, investors are pretty much aware of his lies and their moves are showing exactly that. Despite raising new highs this year, the Dow Jones and S&P 500 have both moved sideways since Trump first introduced tariffs on China. Trump’s fib helped Dow Jones Industrial Average to gain 270 points at one instance.CNBC’s Jim Cramer said he’s “aghast” they trust the People’s Republic of China more than they trust the White House.“The predominance of coverage this morning is that the president is lying. I’m not willing to say that he’s lying. We can doubt him, but in the end we’re doubting a guy that didn’t want the market to crash.”Donald Trump Lied About Relations With China in Order to Pump U.S. Stocks
Coinspeaker China’s Digital Currency Will Be a Two-Tier System Replasing Cash, Says BinanceBinance Research, which is the analysis and data research arm at Binance, recently came out with a very detailed research about the PBoC‘s Central Bank Digital Currency. The extensive research overlooks the main features and technology behind the digital currency. In general, the research claims that the new CBDC will be a two-tiered system which will most likely replace all notes and coins that are into circulation. The PBoC’s CBDC will be backed 1:1 by renminbi fiat. The two-tiered system will most likely consist of the Bank (PBoC) under which in the first tier would be commercial banks, and under the second tier would be Individuals and Businesses. To put it more vividly – the PBoC will be connected to Commercial banks with the help of Tier 1 for currency issuance and redemption. Then the commercial banks will be connected with the retail market with the help of Tier 2. However, PBoC hasn’t yet released the technical roadmap for their new CBDC, so some details could differ.Also, the bank hasn’t answered whether the CBDC is going to be on a blockchain at all. Moreover, according to Binance Research, the new system by PBoC could possibly be used without the need for a bank account.“Unlike “tight coupling”, the Chinese CBDC would be transferable between two parties, without the need for a bank account, unlike how traditional payments or fund transfers work in most countries.”Also, Binance points out that the CBDC might even seem anonymous “from the perspective of users” just like cash, but with a chance to manage it:“The end goal for the CBDC is to display a turnover rate as high as cash while achieving “manageable anonymity”. In other words, in the first-layer network of the CBDC, real-name institutions are expected to be registered while the transfer in the second-layer network would be anonymous from the perspective of users. Officials from the PBoC believe that this would benefit “both the RMB’s circulation and internationalization.” With the help of this two-tiered system, the PBoC could potentially process as much as 300,000 transactions per second which currently is not possible with blockchain technology. However, Binance believes that this is done with the “’off-chain relay, on-chain settlement’ mechanism or through other scaling improvements such as sharding or side-chains.”Also, because of various reasons, the PBoC believes that this CBDC could replace cash or in other words – M0 money supply, which is referred to the notes and coins which are in the circulation, not the funds that are within the Central Bank or money holding institutions because “have already been digitized”.China’s Digital Currency Will Be a Two-Tier System Replasing Cash, Says Binance
Bitcoin cash price broke the key $290 support level to move into a downtrend against the US Dollar.
The price is currently trading in a bearish zone and it might struggle to correct above $290 and $300.
There is a key bearish trend line forming with resistance near $304 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
The pair could extend its decline towards the $250 support if it breaks the $270 support.
Bitcoin cash price is now trading in a bearish zone below $290 against the US Dollar. An upside correction in BCH is likely to face sellers near $290 and $295.
Bitcoin Cash Price Analysis
In the past few days, bitcoin cash price struggled to break the $315 and $320 resistances against the US Dollar. As a result, the BCH/USD pair started a fresh decline and broke the $300 support level. Moreover, it broke the main $290 support level and settled below the 55 simple moving average (4-hours). It opened the door for more downsides and the price traded as low as $270.
The price is currently consolidating losses above $270. An immediate resistance is near the $280 level. Moreover, the 23.6% Fib retracement level of the recent slide from the $315 high to $270 low is also near $280. However, the main resistance on the upside is near the $290 level (the previous support area). Additionally, the 50% Fib retracement level of the recent slide from the $315 high to $270 low is also near the $292 level to stop gains.
More importantly, there is a key bearish trend line forming with resistance near $304 on the 4-hours chart of the BCH/USD pair. Therefore, the price is likely to struggle near the $290 and $292 resistance levels. Only a close above the $300 level and the 55 simple moving average (4-hours) might open the doors for a decent upward move.
An immediate support is near the $270 level. If there is a downside break below the $270 support, the price could decline heavily towards the $250 support in the near term. An intermediate support is near the $262 level.
Looking at the chart, bitcoin cash price is clearly trading in a downtrend below $300 and $290. If there is an upside correction, the previous supports near $290, $292 and $300 are likely to act as barriers. On the downside, the $250 support holds the key for more losses.
4 hours MACD – The MACD for BCH/USD is losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is currently recovering above the 30 level.
Key Support Levels – $270 and $250.
Key Resistance Levels – $290 and $300.
The post Bitcoin Cash Analysis: BCH Turned Sell On Rallies appeared first on Live Bitcoin News.
Coinspeaker Terra and Mining Token Luna Listed on KuCoin Cryptocurrency ExchangeTerra, the project building the next-generation payment system on the blockchain, announces today that its stablecoin Terra SDT (SDT) and mining token Luna (LUNA) will both list on global cryptocurrency exchange KuCoin. Deposits will open on August 28, 8:00 am UTC, and trading will start at 10:00 am UTC with trading pairs LUNA/BTC, LUNA/USDT, and SDT/USDT.Terra is a blockchain payments network that is powered by two tokens: Terra and Luna. At its core lies the algorithmic stablecoin Terra, which refers to a family of cryptocurrencies that are each pegged to the world’s major currencies. Terra’s flagship currency, Terra SDT, is pegged to the IMF’s SDR and serves as the unit of account for the Terra protocol.Terra is backed by a second token called Luna, the mining token that not only powers Terra’s blockchain, but also derives its value from receiving Terra’s transaction fees.Terra is making blockchain-powered payments commonplace by providing incentives to consumers and merchants alike. Terra offers significantly cheaper transaction fees to merchants by cutting out unnecessary middlemen, and also offers 5-10% off every purchase to shoppers which is funded by growth in its underlying stablecoin economy.Terra’s plan to get its stablecoin into the hands of millions is propelled by an ever-growing e-commerce alliance, which includes Asia-Pacific giants such as TMON (e-commerce, Korea), Woowa (food delivery, Korea), Carousell (C2C, Singapore), and Tiki (e-commerce, Vietnam).Michael Gan, CEO at KuCoin, said:“As the People’s Exchange, KuCoin is committed to empowering promising blockchain projects and providing a wide range of digital assets to crypto investors. The next-generation payment network developed by Terra has the potential to grow the blockchain economy. We are happy to see this great project join our trading platform and we really appreciate their contribution to driving the mass adoption of cryptocurrencies.”Daniel Shin, Co-Founder of Terra, said:“Since launching in June, Terra’s transaction volume has been growing at a rapid pace, with usership already exceeding 400,000. We are excited that a global exchange like KuCoin is listing Terra and Luna at a time of unprecedented growth, and we look forward to continue growing Terra’s economy as more and more e-commerce partners offer Terra as a payment option.”Terra recently announced new e-commerce partners such as Korea’s music-streaming giant Bugs and Sinsang Market, the largest B2B fashion platform in Korea. It has also recently announced investments from Hong Kong’s HashKey Capital, Singapore’s LuneX, and U.S. hedge fund Ulysses Capital. Terra’s mining token Luna (LUNA) is also listed on global cryptocurrency exchanges Bitrue (BTC/XRP) and Bittrex (BTC).About TerraTerra is designing a price-stable digital currency that will power the next-generation payment network on the blockchain. Terra partners with an ever-growing alliance of global e-Commerce platforms to bring blockchain’s benefits such as low transaction costs to merchants and everyday consumers.By bridging the gap between digital currencies and real-world application, Terra aims to evolve into an open platform for innovative financial dApps and grow the real GDP of the blockchain economy. Founded by a team of business, finance and blockchain experts, Terra has offices in Singapore and Korea. For more information, go to https://terra.money/.About KuCoinThe KuCoin Exchange opened for cryptocurrency trading in September 2017 and enjoyed steady growth into 2018. The KuCoin Exchange puts a high priority on the quality of the projects listed based on a well-trained research department that scours the blockchain industry for the highest quality projects. KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently.Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries. In November 2018, ‘The People’s Exchange’ officially partnered with IDG Capital and Matrix Partners.Terra and Mining Token Luna Listed on KuCoin Cryptocurrency Exchange
Coinspeaker Binance Announces New Developers Platform Binance X to Foster Blockchain InnovationCrypto exchange Binance has unveiled its new platform offering to developers called Binance X. This new developer-driven initiative from Binance focuses on fostering innovation in the blockchain ecosystem.As per the company announcement, Binance X would majorly focus on helping developers learn and collaborate in the blockchain ecosystem. Moreover, the platform also plans to help developers to engage with its native offerings like Binance Chain. Trust Wallet SDKs, Binance.com APIs, and Binance charity donation platform.Furthermore, the Binance X platform will also help seamless connection with Binance’s other growth initiatives like Binance Launchpad, Binance Labs Incubation, Binance X Fellowship, etc. In the recent past, Binance has initiated a number of initiatives with new developer-facing products and getting third-party developers to create and improve solutions for the crypto industry.This is certainly the right time for the company to launch the Binance X platform. Binance is also working on thriving the developer ecosystem which in turn will create products and services pushing the overall growth of the crypto industry. Teck Chia, Head of Binance X said:“As Binance has evolved into a platform with multiple products and services, we believe it is the right time to systematically foster a developer ecosystem to build innovative products and services on our platform. The Binance X team will help educate, create opportunities for collaborations and jumpstart growth of these projects via the different programs and resources we have at Binance.”Binance X Resources and ProgramsTo attain its long-term mission of creating a thriving developer ecosystem, Binance X has created several programs and resources at different stages of the developer community. The Binance X developers will get complete access to different developer resources on the Binance platform.The Binance X Fellowship program has over 40+ developers and projects which include JP Thorbjornsen of BEPTools, Hammad Tariq of GoBNB, Austin Griffith of Burner Wallet, Nikita Kozlov and Alexandr Safonov of BrowserBNB, among others.Crypto exchange Binance has recently announced multiple new initiatives for creating a robust ecosystem and services for the crypto industry. The three latest announcements from the company are:Crypto Lending service called Binance Lending allowing its customers to earn 15% interest by lending their crypto holdings.The crypto exchange plans to launch its Futures Trading platform in the next month of September.A new project dubbed Venus to counter the upcoming competition from Facebook’s LibraBinance Announces New Developers Platform Binance X to Foster Blockchain Innovation
Coinspeaker Hedera Hashgraph Set to Launch Beta Mainnet and Release HBAR Tokens Next MonthHedera Hashgraph, an enterprise public distributed ledger platform, has officially announced that it will launch Open Access (OA) on Monday the 16th of September for its mainnet in beta mode. When it launches, Hedera Hashgraph will support easy creation and deployment of supported decentralized applications (DApps) from any developers interested in hosting their creations on the platform.Co-Founder and CEO, Mance Harmon, has iterated this, saying that the platform is ready to accept all interested contributors and developers. Harmon also highlights the company’s desire to ensure that the platform becomes the most transparent in the sector as well as the offering of its own cryptocurrency, HBAR. According to Harmon:“With Open Access, we are excited to welcome any and all to join the hundreds of third-party developers already building decentralized applications on our platform. Open Access also marks the next step in our journey to become the industry’s most decentralized, permissionless, public network. At the same time that our mirror nodes are becoming open source and accessible to all, we’re also beginning a careful, responsible coin distribution process.”HBAR TokenHedera Hashgraph’s digital currency according to the company will be released as soon as the beta launch is concluded. The company plans that the distribution of these tokens, about 50 billion of them, will be spread out in batches over the next 15 years.This will be made possible with proceeds from the $124 million it received last year from its Initial Coin Offering (ICO). Hedera hopes that the plan to fix a definite supply of HBAR tokens and distribute said tokens over such a long period will help a thorough transition into a fully public and permissionless network.The network will also allow all interested holders who stake coins to perform ledger entry verifications, thereby becoming nodes. The company has noted that the plan to spread distribution is also a pre-emptive effort to strongly prevent the possibility of a market hijack by malicious players who might try to create artificial dominance and compromise the privacy and security of the platform. Hedera also promises that the platform can handle up to 10,000 transactions per second and will be tradable on several crypto exchanges.More on Hedera HashgraphEven though it will launch its own digital assets, the company has stated that it the cryptocurrency is not the main focus of the platform. According to the team, the main focus is to create a proper framework that will support other decentralized applications, providing a secure platform for developers.Hedera further points out that the platform is not a blockchain as it does not require the creation of blocks forming a chain of recorded transactions.Hedera Governing CouncilThe Hedera team has also announced the addition of international financial services provider, FIS Global, to its governing council. FIS is the first American financial services firm to join the council, which already boasts of major players like Nomura Holdings, Tata Communications, and IBM.Hedera co-founder and chief scientist, Leemon Baird, has said that the members of the council were specifically chosen to ensure a certain level of diversity. According to Baird, the council comprises companies “on different continents, under different governments and in different industries.”Hedera Hashgraph Set to Launch Beta Mainnet and Release HBAR Tokens Next Month
Ethereum has been in the news lately thanks to its “clogged blockchain network,” but now it looks like that torch is being handed down to a competing cryptocurrency.
Ethereum Has Been Dethroned…
The currency in question is Tether, which has stirred quite a bit of controversy over the past 12 months given its potentially unrequited statements surrounding its status as a stable coin. While Tether execs have alleged that the currency is backed by specific amounts of reserve fiat, this was ultimately proven as not entirely true.
In addition, Tether is often thought to have been responsible for bitcoin’s rapid price booms in 2017. A report that emerged last year by University of Texas finance professor John Griffin alleges that Tether holders were potentially using the stable currency to purchase bitcoin units whenever the asset fell by even a marginal bit. This would ultimately tie bitcoin to the stable currency, thereby boosting it further up the financial ladder.
The report also alleges that those who bought bitcoin using Tether ultimately cashed out the following year, which accounts for the rapid descent of the world’s number one cryptocurrency by market cap.
As we all remember in 2017, the Ethereum blockchain network became clogged up when the digital currency-based game Crypto Kitties became one of the most popular forms of entertainment for digital asset enthusiasts. Then, there was an entire swell of initial coin offerings (ICOs) and new currencies that utilized Ethereum’s smart contracts capabilities. With so many new coins being built on Ethereum’s network, it was bound to lose its footing somewhere down the line.
Co-creator Vitalik Buterin recently commented:
The Ethereum blockchain has been almost full for years. I think it’s still good to develop apps, but anything substantial should be developed with scalability techniques in mind so that it can survive higher transaction fees that would come with further growing demand for Ethereum. In the longer term, Ethereum 2.0’s sharding will, of course, fix these issues.
Lately, however, Tether seems to be taking up a lot more space. In the last month alone, Tether has paid computers processing Ethereum-based transactions fees of up to $260,000. That’s nearly 18 times more than Crypto Kitties and more than five times that of IDEX, the world’s largest distributed exchange.
The problem is that Tether is being issued more often now, and the more it’s issued, the more space it requires. It’s market cap now exceeds $4 billion, and approximately 40 percent of all Tether-based transactions occur on the Ethereum network.
Tether Might Be Making Things a Lot Harder
Jeff Dorman, chief investment officer at Arca in Los Angeles, comments:
The biggest implication today is simply that developers may be incentivized to wait until this transition happens before fully committing to build on Ethereum. Tether isn’t helping.
The post Is Tether Responsible for the Congested Ethereum Network? appeared first on Live Bitcoin News.
Despite its recent (and dramatic) drop of more than $700 within a 24-hour period, bitcoin remains a solid investment for most tech hounds, and according to industry expert Sonny Singh – the chief commercial officer of Bit Pay – the currency could also make a great marketing tool for “hip” companies.
Bit Pay Exec: These Companies Don’t Understand Bitcoin
Singh says that he works regularly with all these companies that put millions of dollars into their advertising campaigns, whereas all they’d have to do to garner customers is accept bitcoin. He’s confident the tech community is becoming more interested in the cryptocurrency and is eager for opportunities to work with it, but that these companies simply aren’t catching on.
I talk to cool, hip tech brands who are spending all this money on marketing right now. All they need to do is accept bitcoin to get new customers. The whole crypto community, which has been valued as high as $800 billion, would know about these brands. [They] would probably be doing about five to ten percent of their online sales in bitcoin, and of that five to ten percent, nearly 60 percent of those customers will be first-time customers.
Unfortunately, accepting bitcoin – or any cryptocurrency as a means of payment – is still subject to many rules and speculation, and so long as volatility exists, many of these companies are not going to examine bitcoin or view it as a reasonable form of money. He says:
It boggles my mind when I talk to these mid-tier brands and they don’t even know about [bitcoin]. These are cool tech kids that are running these companies, backed by VCs, and they don’t even understand how bitcoin works.
Marketing Is Useless Without Customers
He says that major tech companies like Microsoft, New Egg, ATT and Dish Network all accept crypto payments, but that very few small Silicon Valley startups do, which he believes is a big mistake:
I get snail mail every day from new startups trying to get me to buy their sleeping mattresses or eyeglasses when they could increase their sales dramatically by accepting bitcoin. They’ll say they’re too busy or that they can’t hold bitcoin on their balance sheet, and we tell them they don’t have to. They can settle in U.S. dollars the next day. It is still not interesting to them. They’re going to get [potentially millions] in new revenue per year. Do they care about that? Still, they say it’s not a fit for them right now or they’re too busy.
The good news is that not all companies are taking this route. According to Singh, Bit Pay processed more than $1 billion in BTC transactions in 2018, beating out its 2017 record. In addition, roughly 53 percent of these transactions occurred at the hands of new customers.
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