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IOTA Gives Back Some Gains After Trinity Wallet Rally

IOTA gave back some gains Wednesday, a day after the alt-coin surged on news of the beta release of the token’s new Trinity mobile wallet app. At this writing Wednesday, IOTA was down 4.92% to a market value of $4.26 billion, still good for the ninth spot among all digital currencies.

There is no direct way to buy IOTA with a credit card, debit card, or bank account on any US Exchange. The cheapest and most efficient way to obtain IOTA is to first purchase Ethereum or Bitcoin through Coinbase (Currently Ethereum offers a much lower transfer and exchange fee than Bitcoin.)

The Trinity mobile wallet initiative could increase adoption of IOTA.

“Initially a purely community-driven project, Trinity was adopted by the IOTA Foundation in order to provide assurance to the wider community that the wallet is safe to use, and as free from the threat of user error as possible,” according to the IOTA Foundation blog. “We have subsequently subjected Trinity to 2 external reviews, a threat modelling exercise and a security audit, to ensure maximum security for our users. Any threats or bugs that were identified during these two external reviews have been investigated, and mitigated or patched where required.”

IOTA sets itself apart in how it reaches consensus and how it approaches transactions. Since there are no miners, IOTA relies on each user in network to verify and approve two past transactions. This ensures that the whole network achieves true consensus.

More IOTA News

Last week, IOTA and UNOP revealed a collaboration to bring greater efficiency to operations at the United Nations.

“IOTA’s distributed ledger can provide a greater level of efficiency in the management and tracking of UN documents, supply chains and transactional payments in real-time, with access available to both UNOPS and its partners,” according to a statement.

There are over 2.77 billion IOTA in circulation.

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Bitcoin

Bitcoin Price Hits 8-Month High Close to $7K

There seems to be no stopping the bitcoin (BTC) freight train.

The leading cryptocurrency by market value jumped to $6,964 at 06:00 UTC today on Bitstamp, the highest level since Sept. 5, 2018, having found acceptance above the crucial 200-week moving average at $6,500 in early Asian trading hours.

Prices have set a new multi-month high for the fourth straight day and have rallied in excess of over 70 percent in the last 5.5-weeks.

Notably, with the sharp rally, the 100-day MA of bitcoin’s price has moved above the 200-day MA. That is the first bullish crossover between the two averages since July 2015.

The development further confirms the long-term bearish-to-bullish trend change signaled by several technical indicators, including a golden crossover, over the last few weeks.

The moving average studies, however, are lagging indicators and have limited predictive abilities, as they take old price history into account.

Even so, investors may take heart as a similar crossover in July 2015 was followed by a 2.5-year bull run.

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Binance

Binance got hacked for $40 Million Dollars in Bitcoin, is your money safe?

The short answer is Yes, your money is safe.
Fortunately, Binance was prepared and your money is safe in due to SAFU. Meaning the ‘Secure Asset Fund for Users’ will cover this completely. This is the very reason Binance is self-insured.

Technically speaking the Binance exchange itself was not hacked, it has officially been stated by Binance that a large number of API Keys, 2FA Codes, and other user info was acquired by said hackers utilizing techniques such as phishing, viruses and other types of digital attacks. This means that it was user accounts that were compromised by the users themselves and not Binance.

In an age where digital security is more important than ever, this is a stark reminder to keep your data safe and secure at all times.

TLDR About the Binance Hack:

• 7000 BTC was stolen
• The BTC was stolen from Binance’s Hot Wallet
• Binance’s Hot Wallet holds only 2% of their total holdings
• All funds are insured and do not affect users

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Bitcoin

Why Is Bitcoin Not Taking Off In 2019?

PEAK BITCOIN

As you are likely referring to the price, Bitcoin is quite frankly doing what it has always done, as in go through a cycle. Right now it appears to be in the accumulation phase before it starts to climb and then vault higher than it was before.

If you take a look at this Bitcoin chart and go back to what happened in the run up to late 2013, it extremely similar to 2017, and then what happened directly after in 2014, 2015 and 2018, 2019 is quite similar.

 

We can see from the chart that there was a prior accumulation phase happening throughout 2015 and 2016 after the drop in 2014 subsequent to the spike in 2013. But this is dwarfed by the spike that happened in late 2017.

The other point to note is that Bitcoin is not unique when it comes to this cycle, it has happened before in many different markets. It’s just that Bitcoin is a new technology phenomenon that is following a very similar path. Of course we can never be certain as to how long the current phase will last, but when it’s done I suspect a lot of people will look back once again and wish they had accumulated during this phase.

Finally, whether it still has further to drop or not won’t really have any substantive bearing on the ultimate long term trajectory in our honest opinion.

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