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Bitcoin Miners Head to Rural Washington State


In a parody of the mid-1800’s gold boom techno miners are following their predecessors to the banks of the Columbia River to Mine Bitcoin.

Go west Young Man

The small town of Wenatchee in rural North, Western Washington State is being tagged in tech blogs and major network coverage as a hub of Bitcoin mining.

We may normally picture hanger sized buildings full of servers in industrial China when thinking of Bitcoin mines. Wenatchee though is a picturesque small town set along the banks of the Columbia River surrounded by the foothills of the Cascade Mountains.

And that location is exactly why it is becoming the Bitcoin mining boom town of America. There are several hydroelectric dams along the Columbia River that provides Wenatchee and the surrounding area with cheap electricity.

Electricity runs at 3-4 cents a kilowatt compared to the average cost in the US of 12 cents per kilowatt and the highest on the East and West coasts being around 20 cents, or Hawaii for that matter at over 30.

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Bitgrail Exchange Claims $195 Million Hack in Face of Serious Skepticism


A relatively obscure Italian cryptocurrency exchange is claiming a major hack involving Nano tokens but critics are calling it an exit scam.

Another multi-million dollar hack?

Bitgrail claims it was hacked last week of 17 million customers owned Nano Tokens equal on the day to about $195 Million dollars. Bitgrail was one of the main portals for trading the Nano token, previously known as RaiBlocks.

The claim made by founder Francesco Firano has been met with serious skepticism though created in part by suspicious moves made by Bitgrail itself. In January the exchange put a halt to all withdrawals and deposits of Nano, Lisk, and Crytpoforecast tokens. Then they announced identity verification and anti-money laundering protocols and the possibility of blocking non-European users.

These moves generated rumors that the site was setting up what some call an exit scam causing the price of the Nano to drop by 20%. In the wake of the alleged hack, Firano asked the developers of the Nano token to ‘fork’ their records. That is to change the transaction records in order to restore the lost tokens.

The Nano team immediately took to social media to quash the suggestion that the loss was due in any part to their tech.

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Ripple Price Technical Analysis – XRP/USD Poised to Gain Above $1.00

Key HighlightsRipple price recently corrected lower and found support near the $0.8400 level against the US dollar. There is a crucial bullish trend line forming with support at $0.9350 on the hourly chart of the XRP/USD pair (data source from SimpleFx). The pair may continue to rise in the near term and it could gain upside momentum above $1.0000.

Ripple price is slowly moving higher against the US Dollar and Bitcoin. XRP/USD looks set to gain upside momentum once there is a break above the $1.0000 level.

Ripple Price Support

After trading above the $1.1700 level, Ripple price faced sellers and started a downside move against the US Dollar. The price declined and traded below the $1.0000 and $0.9000 support levels. The decline was substantial, but the $0.8400 area managed to act as a strong support. XRP found bids near $0.8400 and $0.8500, and later it started an upside move.

There was a break above a bearish trend line with resistance at $0.9200 on the hourly chart of the XRP/USD pair. The pair also moved above the 23.6% Fib retracement level of the last decline from the $1.1755 high to $0.8398 low. At the moment, the price is trading just around the $1.0000 level and is currently facing resistance. Once there is a break above the $1.0000 level, there could be more gains. An intermediate resistance could be the 50% Fib retracement level of the last decline from the $1.1755 high to $0.8398 low at $1.0076.

On the downside, there is a crucial bullish trend line forming with support at $0.9350 on the same chart. As long as the trend line support and the $0.8400 level is intact, the price remains in an uptrend.

Looking at the technical indicators:

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Government Websites Attacked by Mining Malware


Reports of mining malware infestations are an almost weekly occurrence now. With cryptocurrency mining becoming more lucrative than ransomware, hackers are upping their game and widening the digital net. Those caught in it this week included a number of government websites in the UK and Australia.

In what has been newly termed as ‘cryptojacking,’ the Guardian reported that thousands of websites had been infected over the weekend. Those that visited the compromised websites would have their computer hardware hijacked in order to mine Monero for the perpetrators.

Multiple Victims

According to the reports, websites of the NHS services, the Student Loans Company, and several English councils, were all infected. Over the weekend, the website of the UK’s data protection watchdog, the Information Commissioner’s Office, was taken offline to deal with the infection.

The malicious software came via a plugin called BrowseAloud which helps partially-sighted people access content on the web. The plugin authors took their own website down while they tried to resolve the problem. As many as 5,000 website have been compromised with a variant of the Coinhive mining script, which allows webmasters to leech resources from the hardware of their readers.

Monero is usually the crypto of choice as it is anonymous and encrypted and, therefore, cannot be traced back to the source wallets.

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France and Germany Urge Discussions on Crypto Policy at G20 Summit


High ranking officials from France and Germany have issued a letter urging the finance officials of other nations to discuss the regulatory implications of cryptocurrencies at the upcoming G20 Summit.

Leaders Call for “Trans-Boundary” Action Against Cryptocurrencies

The letter is authored by the French Finance Minister Bruno Le Maire, Peter Altmaier of the German Ministry of Finance, French central bank governor Francois Villeroy de Galhau, and the president of the German Federal Bank, Jens Weidmann.

The document emphasizes the need for a transnational regulatory approach in order to enforce cryptocurrency policy, urging finance officials to discuss issues relating to cryptocurrency policy and enforcement at the upcoming G20 Summit. The letter also called for a report by the International Monetary Fund into the potential implications that virtual currencies may have for global financial stability.

The document states “We believe there may be new opportunities arising from the tokens and the technologies behind them. However, tokens could pose substantial risks for investors and can be vulnerable to financial crime without appropriate measures. In the longer run, potential risks in the field of financial stability may emerge as well,” adding that “Tokens and their potential for financial innovation should not be left to those who make the worst use of them.”

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Ethereum Outdoing Bitcoin When it Comes to Communities Support and Confidence


The “State of Blockchain 2018” report has been released by CoinDesk, expressing out and giving insight on the market trends and the development of the crypto-market in general while introducing parallel what the enthusiasts preferences are.

Analysis and reports of the kind do give traders, investors and developers major data and information that would impact the next step and decision they would take that are conclude on how the market is moving right now.

Despite the negative opinions expressed by big representatives of traditional banks and financial firms, numbers look very promising for those involved in the blockchain world.

The leader of digital currencies and where it all started: Bitcoin in 2017 delivered a 1278 percent year-to date return with the following coins going over 700 percent. The mentioned numbers surpass any normal traditional market that averages max like 23 percent.

However, despite the fact that BTC is the leader when it comes to value storage, Ethereum riding the rising train towards being acknowledged as the Network Leader in the ecosystem with most transactions, duplicating its numbers against bitcoin. For the last quarter of 2017 Ethereum had 589,171 Tx’s and Bitcoin had 319,085. This is the result of low transactions, rapid block generation, and the rise of Smart-Contracts ERC20 as well as the credibility and adoption of Dapps.

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France & Germany ‘Threatened’ by Bitcoin, Want Global Crypto Crackdown

With Bitcoin and other cryptocurrencies finally bouncing back after a steep correction to start the new year, finance ministers in France and Germany are looking to shut down the party by calling for a crypto crackdown.

France and Germany ‘Threatened’ by Cryptocurrency

French and German finance ministers continue to call for strict regulation on Bitcoin and other cryptocurrencies.

According to reports, French Finance Minister Bruno le Maire and interim German Finance Minister Peter Altmaier signed a letter to fellow G20 finance ministers, in which they claim cryptocurrencies are not only risky for investors but also threaten long-term global financial stability. They write:

Given the fast increase in the capitalization of tokens and the emergence of new financial instruments … these developments should be closely monitored.

They also claim that cryptocurrencies “are currently largely mislabeled as ‘currencies’ in the media and on the internet,” creating a “lack of clarity” which “can only fuel speculation.”

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Brisbane Airport Breaking Ground by Accepting Cryptocurrency


Australia’s Brisbane Airport leaped into financial conversations in late January. Rumors of cryptocurrency being accepted as legal tender offered a temporary reprieve from the month’s freefalling market value. Speculation regarding real-world utility stands as more of a delusion than actual basis at present. That said, increasing traction for these ideas is pushing some of the world’s leading financial figures to speak in favor of commercial use.

CoinDesk was among the first to report on rumors surrounding the Brisbane Airport’s new approach. Working with TravelbyBit, customers would be able to purchase in the airport’s stores using various cryptocurrencies. Bitcoin naturally stood out as the favorite name, but newer reports project application for Ethereum, Litecoin, Dash, and Steem as well. This is a potentially pivotal point for cryptocurrency in 2018. With the Australian government recognizing cryptocurrencies as a legitimate option in some field, it is only a matter of time before the accepted scope expands.

TravelbyBit’s general manager of strategic planning and development was on record stating, “This is just the beginning for us as we hope to expand the digital currency option across the business.” CEO Caleb Yeoh supported the idea that TravelbyBit provides a “genuine use case for cryptocurrencies.” TravelbyBit remains heavily focused in the travel sector, an area familiar with crypto. Landmark brand Expedia is among the largest active companies accepting cryptocurrency in any market. Allowing customers to plan their trips and pay with Bitcoin, a precedent has been set. Other individuals have followed suit in accepting crypto for travel plans pricing over a quarter of a million dollars. Partnering with Brisbane’s airport offers a new opportunity within a familiar sector – a centrally located hub for bars, stores, etc. to accept crypto from a wide demographic may be enough to kickstart international commercial usage.

Approval from the Australian government in this venture is an important statement. Current political standing has polarized investors who may or may not have faith in the crypto-market. January was littered with concern that South Korean officials would completely shutdown crypto-exchanges rather than simply regulating them. Russia departments have wavered on their standing, and other nations heavily base their positions on different criteria (the purpose of legalization, individual risk, governmental risk). It appeared at the end of 2018 that Russia would never accept cryptocurrency as a legal tender, but the country has already transitioned to hosting exchanges and finding potential utility in the tourist market.

There is no concrete date for Brisbane’s transitional period. The speculative market has been trending down over recent weeks, but new developments in this project may again offer a short-term spike in value. Bitcoin is often tied to its potential retail use, and this could rival Japan’s current financial infrastructure with a successful implementation.

Original linkOriginal author: Michael Collins
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Morning Asian Altcoin Trading Roundup: the leader is Tron


Things are looking brighter during the Asian trading session this weekend. Bitcoin has done better than hold the pivotal $8k level, it has risen to just under $9,000. As usual the movements of Bitcoin are mirrored in the altcoin charts and most of them are trading higher this morning. The leading altcoin however is one that has taken a lot of flak recently. But with a 53% jump in less than 24 hours Tron is on a flyer at the moment.

Social media has been vicious to Tron and its founder. For some reason this altcoin has hit a nerve with the Facebook fanboys that have been bleating on about it for some weeks. It has probably suffered a greater FUD attack than any other cryptocurrency out there, with the possible exception of Verge, and this may be due to the huge attack of FOMO causing the coin to spike from virtually nothing to $0.25 on January 5.

Since then it has been on a downward slide with all other altcoins. Today however Tron is over 50% higher than its trading price the same time yesterday. Currently trading at $0.054 TRX has seen the largest upward movement in the top 25 altcoins this morning. Founder Justin Sun is very active on Twitter where he posts almost weekly updates about partnerships with small Chinese companies. The entertainments based altcoin could easily reach its previous all-time high if a bigger partnership gets announced.

TRX is predominantly traded on Binance which has over half the total volume. Its market cap is $3.6 billion which ranks it as the 16th most popular altcoin. $480 million has been traded in the past 24 hours, largely in South Korea. Other altcoins enjoying big jumps today are Ripple, Cardano, Stellar and Lisk.

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals. 

Original linkOriginal author: Martin J. Young
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Altcoin Analysis: NEO, EOS, LTC, NEM and Lumens


There is a clear stochastic buy signal turning from deep the oversold territory in NEO, LTC, Lumens, NEM and EOS/USD charts and this of course means buyers are now entering the trade.

If this momentum amounts to something, then we expect prices-especially in LTC/USD to surge past $170 as buyers look to buy at every low.

Let’s have a look at these charts:

XLM/USDXLMUSD Daily Chart for February 10, 2018

From yesterday’s Lumens price action, we can see that bulls were actively pushing prices higher and that is an awesome development.

Now, what we need is for this week’s candlestick to end up strongly and that means buyers must close above our buy triggers at set at $0.55 or the key Fibonacci retracement line at 61.8%.

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