Ethereum ClassicEthereum Classic ETC news

Ethereum's fork, backed by that part of comunity who declined to reverse transactions after DAO attack
Price, 24h
3.98 USD / 0.00112800
5.59% / 0.53%
Volume, 24h
80,856,657 USD
-6.02%
Marketcap
420,414,895 / 0.38%
Emission
Chart price/vol/NIS 7d
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Ethereum Classic (ETC) Daily Price Forecast – December 11

ETC/USD Medium-term Trend: Ranging Supply levels: $4.50, $5.50, $6.50 Demand levels: $3, $2.50, $2 ETC/USD crypto-market slightly broke the last week’s lower range southwards to enter other range zones this week. The downward market movements came majorly on a platform of featuring lower lows during which the $3.50 mark was briefly pushed past on December 7. Since then, the crypto has been experiencing different short up and down price movements around $4 and $3.50 levels. Price has now been trading under the $4 upper range mark. The 50-day SMA is located over the Bollinger Bands which all its trend-lines are located within the range points. The Stochastic Oscillators are seemingly consolidating around range 40. From the outlook of indicators reading, it’s still believed that this crypto will possibly witness more downwards in its market movements. Traders may only need to watch out for a decent entry. ETC/USD Short-term Trend: Bearish In the short-term trading sessions so far today, the ETC/USD market has been notably declining southward. The crypto has once pushed northbound to average $4 mark earlier on today. Since then, it has lost the strength to support the move at that point to sustain its surge above the upper range mark in the medium-run. Yesterday, the crypto saw a correction from a $4.20 high mark and equally resulted in a notable price-fall of a bit below the $3.70 point. Two key market lines have been depicted by the Bollinger Bands as $4 and $3.70 in the short-term trend. The 50-day SMA and the middle Bollinger Band are closely located on the chart. The Stochastic Oscillators have crossed to point south at range 20. Though more bearish trending outlook cannot be totally blotted out as at present, but then, bulls are seemingly building up their foundations around $3.70 to possibly stage a come-back.     The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Bitcoin Exchange Guide

ETCDev is Drowning: Is ETC Labs a Liferaft or Anchor in its Financial Problems?

The world of cryptocurrency is currently on a sharp bearish trend that has seen crypto’s lose over 80% of their value in the past year. The bear market crunch seems to hit hard on some coins more than the rest as witnessed with the recent Ethereum Classic development team (ETCDev) misunderstanding. This is causing a sharp decline in ETC’s price as well as loss of trust of investors in the future of the project. The high tension situation arose from the decision by ETCDev team to keep its funds in cryptocurrency which stifled operations as prices collapsed and it could no longer pay staff in the last few weeks. This however is only part of the story as alleged by ETC Labs, a competitor to ETCDev, who offered a different view. The story of Ethereum Classic is a classic case of how internal feuds are killing the industry and causing development stagnation on projects. We dissect the “ETCDev issues” offering both sides of the story below to offer more clarity on the subject. The ETCDev Demise Timeline October 2018: ETCDev Funding Problem Begins In a post on Medium, Igor Artamonov, the CEO of ETCDev, confirmed that the ETCDev team was facing huge financial constraints. The comments were backed by Business Development Manager Donald McIntyre, and Darcy Reno, then Program Manager, who all agreed the company needed some form of external financing to survive. “Just recently, I was talking about our financing and I found out that most people think that ETCDEV is well backed, but that is quite the opposite. ETCDEV has been always bootstrapping and working on Ethereum Classic (ETC) projects without much external finance.” – Igor Artamonov Mid-October: The US$ 300,000 Grant To ETCDev Once the team agreed on sourcing for external finding, the managerial team of ETCDev approached Digital Finance Group (DFG) and ETC Labs for the funding. ETC Labs is currently a subsidiary of DFG. James Wo, the chairman of DFG offered US$ 300,000 to the team with a condition to be the sole external financer. In McIntyre’s report, he confirms they received US$ 40,000 from the DFG group in October. This was the first installment of ‘upcoming’ funds in the next months from DFG. The US$ 300,000 promised never saw ETCDev team’s accounts till today. November: The “Trojan Horse” According to Igor, Darcy Reno proved to be an insider who was working for the ETC Labs team. The “Trojan horse” as explained by Artamonov remained at the ETCDev team only to collect internal information, contacts, the roadmap and technical developments from the ETCDev team. In mid-November, Reno, went to Hong Kong for an unplanned meeting with executives of DFG to discuss the funding operations. In the course of the negotiations and requests of funding, Terry Culver, the CEO of DFG asked for a representative on the ETCDev team. Igor accepted and added a DFG representative (krykoder) to the ETC Community GitHub as an owner. Mid-November: Darcy Reno Leaves ETCDev For ETC Labs After his meeting with the DFG executives in Hong Kong, Reno switched for the ETC Labs development team on November 19th. This came a few days after Tyler had contacted Igor with a proposal for DFG to be the leading voice in ETC core development after funding. The proposal was rejected despite the team only having only a week’s worth of operational funding. The tale by Igor was however disputed by Elizabeth Kukka, the Program Director for ETC Labs. Kukka said the teams had discussed on the future core development of ETC project by both teams. Furthermore, she says Artamonov walked out in a meeting to agree on the provisional process of financial sourcing from DFG. Speaking further on the troubles ETCDev faced she said, “ETCDev operated as a business. DFG looked at providing financial support, but we know this wouldn’t solve the problem. Their burn rate far exceeded the $300,000 assist we offered. The company may have been in the same position again in three months.” – Kukka on Crypto Briefing ETC Labs Actively ‘Poaching’ ETCDev Team? The dispute is starting to creep in to other members of the ETCDev team after the managerial team led by Artamonov and McIntyre, couldn’t close the funding. According to a source in ETCDev (who wished to remain anonymous), developers are starting to switch ship to ETC Labs after not being paid in the last few weeks. Igor and McIntyre however have blamed ETC Labs of poaching their developers accusing Reno of pushing the move. “Unpaid employees don’t get poached,” the source said in a call. “Darcy [Reno] produced a lifeline for the [ETCDev] developers. I definitely refute Artamonov’s claims that he [Reno] was poaching.” Of the total 8 developers at ETCDev, two already switched allegiances with the rest confirming they had been offered jobs at ETC Labs. One of the developers accepted the offer only to turn it down later. This has been one of the biggest troubles the ETCDev team is facing at the moment, the future of its developers. Is The ETCDev Management Team Drifting From The Wider Ethereum Classic Community? In all the fuss and drama, the ETCDev managerial team seems to be drifting apart from the rest of community and recently its own staff. Anthony Lusardi, the Director of ETCCooperative – who only found out about ETCDev’s financial situation last week – said that the managerial team had become increasingly isolated from other projects. Mismanagement Of Funds? A section of the Ethereum Classic communities place responsibility of the demise of ETCDev on the financial mismanagement by the managers. As talked about earlier, ETCDev kept most of their funds in cryptocurrency which affected the cash flow management once the market experienced the sharp bear trend starting October. McIntyre and Artamonov however hold a different view in the matter as they believe they are ‘committed to staying true to the founding ideological principles behind Ethereum Classic’. In a statement McIntyre spoke on the plan of ETC Labs to use the financial situation at ETCDev to take over as the central ETC developer. The move to retain funding in cryptocurrency is a failure by the management team financially as Lusardi said on the issue. “I don’t think he [Artamonov] was the right person to manage finances,” he said. In a response to the calls of mismanagement Igor wrote that the Reno and Lusardi were out to damage his reputation and there was no truth in it. He further wrote, “None of them had access to my long-term finances, don’t know how exactly they were managed and what is the reason of the issue. It’s a pure speculation and intentional misinformation used to damage my reputation.” Conclusion It became clear that financial constraints is the main issue in the demise of ETCDev – albeit by surprise. Keeping the core development team will be key to the ETCDev team and the hundreds of developers working on the platform. Ethereum Classic (ETC) is currently trading at $3.90 representing a 105% drop in price since the dispute started. Decentralized app developments are however thriving on the platform as Kukka confirmed the launch of 12 new projects on Ethereum Classic in the next month. It would be crucial for ETCDev, ETC Labs and DFG to solve their differences for the good of the platform and discourage a fork on Ethereum Classic in future.
Bitcoin Exchange Guide

Ethereum Classic (ETC) Long Term Price Forecast- December 8

ETC/USD Long-term Trend: Bearish. Resistance levels: $8, $9, $10 Support levels: $4, $3, $2. The ETC/USD pair is still in a bearish trend as price reach the low of $4.05. The ETC price is below the 12-day EMA and the 26-day EMA which indicates that the ETC price is likely to fall. The 12-day EMA and the 26-day EMA are trending southward indicating that price is falling. Meanwhile, the Stochastic indicator is reading that the bands are below the 20% range. This implies that the price of ETC has a strong bearish momentum and a sell signal. The ETC price will remain bearish as long as the Stochastic bands are in the oversold region. Nevertheless, the price of ETC is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal. The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Bitcoin Exchange Guide

Ethereum Classic ecosystem crippled as ETCDEV plan Emerald, SputnikVM and Orbita migration

Recently, Ethereum Classic, one of the leading projects in the community, stepped under the spotlight as one of the lead development team, Ethereum Classic Development Company announced that they would be shutting down their operations. This announcement created a buzz in the market as the development team pointed out the other teams for failing them. According to the official website, Ethereum Classic has five teams: ETCDEV IOHK [Grothendieck] ETC Cooperative ETC Labs ETC Commonwealth Out of the five teams, ETCDEV, IOHK and ETC Commonwealth are the ones that focus on the development of the project and the rest provide financial support for the growth of Ethereum Classic. ETCDEV is known was maintaining the key client of Ethereum Classic – Classic Geth, which has been under the development team since the DAO hack. The other projects the team works on include Emerald wallet, Sputnik Virtual Machine, and Orbita. Now, the company will stop their operations on Ethereum Classic due to a financial crisis. The Founder of ETCDEV, Igor Artamonov stated that the company is facing a cash crunch and that they were unable to raise funds as a result of the bear market. In his recent blog post, Artamonov stated that the access for the funds that were meant to be utilized for the development of ETCDEV was lost. This was followed by the Founder seeking financial assistance from DFG and ETC Labs. Post this, the Founder claimed that he had provided admin access to krykoder, a representative of DFG, on their request, who then removed everyone else’s access along with copying all the projects. This led to the team effectively losing control to Classic Geth and ETC community organization. He had stated: “Removing an admin is not a simple operation. GitHub asks for a special confirmation and password, and it has to be done several times, and for each admin. This can’t be done by mistake as ETC Labs, together with ETC Coop, are trying to portray no” AMBCrypto reached out to Anthony Lusardi, Director of ETC Cooperative regarding this situation and their involvement in it. We also asked Lusardi on what would happen to the projects after ETCDEV shuts down their operations. “1. ETC Cooperative has no involvement in the internal operations of ETCDEV or ETC Labs. We’re all separate. 2. We’re waiting for clarity on who will maintain ETCDEV’s projects going forward but I don’t think this is a concern, there are many interested in making sure these projects stay a part of the ecosystem. 3. GitHub is aware of the issue with the GitHub organization and they’re investigating and fixing it” We also reached out to Igor Artamonov and asked about the company’s current stance taking into consideration that they have been working for the ETC ecosystem for more than two years now. We also asked him about the future of the project. To which, he said: “we did all the work for ETC for past years, all protocol stuff, wallets, libraries and the whole infrastructure [including gastracker.io for example] was developer by me or the team. Currently, ETCDEV stopping all activities related to ETC. No other team was working on core projects before that moment.” The founder and developer further stated: “I don’t know who will continue that work, and what long term plans and strategy they has. Speaking about other projects, such as Emerald, Sputnik and Orbita, we’re going to continue our work on this projects, but it’s not going to be targeting Ethereum Classic.” When asked for further clarification on the future of the projects and Classic Geth, he said: “I’m working on future strategy and how Emerald, SputnikVM and Orbita can be used outside of Ethereum Classic or be blockchain agnostic. There is no final decision yet, and it will be published in following weeks. Classic Geth is community project though only ETCDEV was working on it for past 2 years. ETCDEV is not going to continue that work, and is not going to maintain it.” The post Ethereum Classic ecosystem crippled as ETCDEV plan Emerald, SputnikVM and Orbita migration appeared first on AMBCrypto.
AMBCrypto

Bitcoin SV Overtake BCH? // Ethereum Classic Still LIVES! // DOCTOR VITALIK is IN!

💰Get on the Waiting List ★ https://yen.io // GET THE APPS 💰 Social Exchange - http://yen.io 🚀 Market Cap - http://coinpuffs.com 💥 Stay Woke - http://cryptoyum.com 📚 Free Email Course - http://10daysofbitcoin.com // GET STARTED 🚀 Become a #Yenizen - Support us on http://patreon.com/pub 💻 Join us at the PUB! - http://thebitcoin.pub 💰Get a Coinbase Wallet! - http://dctv.co/dctv-coinbase - Sign up! // WE DO SOCIAL 🔑 Decentralized Newsletter - https://dctv.co/dctv-news 📔 Twitter - https://dctv.co/dctv-twitter ✏️ LinkedIn - https://dctv.co/dctv-linkedin Note: This is not financial advice as all investing is speculative. Have fun and good luck!
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US CFTC Plans to Seek Public Feedback to Better Understand Ethereum Blockchain

The latest report on Ethereum future contract unveiled that the Commodity Futures Trading Commission (CFTC) is looking for an in-depth analysis of Etherum blockchain. In order to improve the commission’s understanding of Ethereum and its underlying technology, the CFTC has announced its intention to publish a respective Request for Information (RFI) with the Federal Register. According to the statement: “The Commodity Futures Trading Commission (CFTC) is seeking public comment and feedback in order to better inform the Commission’s understanding of the technology, mechanics, and markets for virtual currencies beyond Bitcoin, namely Ether and its use on the Ethereum Network.” The Commission has put up a total of 25 questions which include topics such as the impetus for developing Ether and the Ethereum Network, especially relative to Bitcoin; the use of the Ethereum network by the developer community; scalability challenges, if any, of the Ethereum network; proof of work and proof of stake; similarities and differences in the governance of Ethereum and bitcoin networks; introduction of derivative contracts on Ether; and security issues, among others. Notably, one question asks: “How would the introduction of derivative contracts on ether potentially change or modify the incentive structures that underlie a proof-of-stake model?” A number of questions following this go further into detail about how the ether market might impact a derivatives market built on top of it – or vice versa. The CFTC said the comments received will benefit LabCFTC, the CFTC’s Fintech initiative, and help to inform the Commission’s understanding of these emerging technologies.
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Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market

Currently, when crypto believers generalize every Wall Street banker to be a Bitcoin critic, a celebrated hedge fund manager and former Goldman Sachs executive changed his perception. Mike Novogratz is a now a name beyond the mainstream finance, and perhaps among the only consistent voices speaking in favor of bitcoin even after its 80 percent-plus drop this year. The 54-year old financial veteran sat before Bloomberg’s Erik Schatzker recently to discuss how the crypto market crash impacted their ventures and how he remains confident about crypto’s long-term potential. Novogratz admitted being on the losing side, stating that his cryptocurrency merchant bank, dubbed Galaxy Digital Holdings Ltd, brought $136 million in losses to its investors when he was raising funds for it. Nevertheless, the crypto crash couldn’t put Galaxy beneath the grounds, and the project was still on its way to – at least – break-even in 2019, he explained. “We’re not nervous; we’re frustrated that our investors have lost money. We’ve got plenty of cash to run the business for a long time. I keep telling my guys we’re a surfer getting ourselves in shape for when the next wave comes, and when the wave comes we’d better be the Laird Hamilton of crypto.” Digital Gold in Making Analysts have continuously argued whether or not bitcoin has a use-case in the mainstream. A majority of them believes that the digital asset’s lower adoption make it an overvalued bubble similar to the infamous Tulipmania from the Dutch Golden age. Investors have entered bitcoin markets on a promise of getting rich quickly, and it is no more stable than a pyramid scheme, i.e., it is all horns but no product. Novogratz, on the other hand, interpreted bitcoin as a digital gold in the making, counterarguing that it is one of the only crypto assets that “gets to be a legal pyramid scheme.” Because, to him, it is the belief that denotes value to a store of value- nothing more, nothing less. “All the gold ever mined in the history of the world fits in an Olympic-size swimming pool,” reasoned Novogratz. “You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is.” As a metal, a store of value asset like gold does have plenty of use cases. Most notably, it is a good reflector of electromagnetic radiation such as radio and infrared rays, as well as visible light. Therefore, gold makes an ideal metal when it comes to protecting artificial satellites, astronauts’ helmets and in electronic warfare planes. But, in reality, only about 17% of the mined gold gets used in industrial applications – minus jewelry – while the rest gets stored inside vaults. That being said, the value of gold bullion itself is 83% speculation and 17% use case. Bitcoin, according to Novogratz, strictly possesses such characteristics. “The fact that David Swensen [Yale University’s chief investment officer] put an investment into Bitcoin, with his reputation on the line, his endowment on the line, tells you something. Some of the smartest people in the investing world think it’s a store of value,” Novogratz asserted. Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market was last modified: December 12th, 2018 by Davit BabayanThe post Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market appeared first on NewsBTC.
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Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now

CoinSpeaker Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now A former partner at Goldman Sachs who is popularly called the “pretty face of cryptocurrency” Mike Novogratz, said that he is now the ugly face of the bust. Talking to Bloomberg, he pointed at SEC sanctions on certain ICOs and the uncertainty surrounding Bitcoin Cash’s hard fork as the reasons behind Bitcoin’s drastic fall from $6,200 to $3,400. However, Novogratz remains confident that Bitcoin will make a comeback. “I do believe Bitcoin is going to be digital gold. We have a business that we think can break even next year, if not make money. We’ve got plenty of cash to run the business for a long time. I keep telling my guys we’re a surfer getting ourselves in shape for when the next wave comes, and when the wave comes we’d better be the Laird Hamilton of crypto.” First, says Novogratz, they thought of crypto as of a bear market. “I went into it thinking in the long run crypto is going to be a real structural shift in the world and I can just hedge my portfolio. And to be fair, we did a really great job not losing money the first 60 percent down. What you forget is that a market like Bitcoin that’s down 84 percent has dropped 60 percent—and then another 60 percent. That’s where the pain happens. You start buying Ether again, because it’s only $400 after being at $1,300. But then it drops to $100, and you’ve lost 75 percent of your money. We haven’t done horribly in that context, but we’re still down.” He then explains what he thinks it’s next for crypto-world. He invested in a company called High Fidelity, which is a virtual world. “Me and you, we’ll sit down, and we’ll have virtual beers. People think I’m crazy when I say that, but Second Life does $500 million a year of GDP, real money traded back and forth in a virtual world with old technology. That’ll be the first use case where blockchain really works.” One of Novogratz ventures in the field of digital currency is the cryptocurrency bank Galaxy Digital LP which began trading back on August 1st, 2018. The bank was off to a very slippery start, losing 20 percent per share in a single day, which added to the company’s overall estimated losses of about $134 million in Q1 of 2018. At the time, the former Goldman Sachs partner once again said that he thinks “we’ve pretty much bottomed.” However, the market has plummeted since, as Bitcoin lost roughly another 60 percent of its value. Yet, Novogratz says that the situation is “not as dramatically as one would think.” Bitcoin Price Rise was Like a Drug High Addressing the fears surrounding Bitcoin he explains the price rise as a drug, “an instance of testosterone boiling over and its fall led to pessimism and rampant fear.” He said: “That was a drug, and I don’t say that lightly…there’s the pessimism, and the fear, and the “Oh my God, it’s going to zero.” But it’s not going to zero. We’re at the methadone clinic.” Novogratz had already been saying that the Bitcoin could hold its position till the end of the year and maybe rise, but then disaster struck. He thought Bitcoin, “was going to hold at $6,200…. but then Bitcoin Cash decided to fork again.” He also mentioned that ICO legislation by the SEC increased investor panic: “The SEC came out and sanctioned a few ICOs and said- oh, by the way, your investors can sue for damages. That scared the heck out of a lot of people.” Novogratz further added that “the ICO market is pretty much dead right now,” however, the regulatory body, “doesn’t want to kill this innovation.” Many crypto proponents of Bitcoin have equated the top crypto to digital gold, Novogratz is one among them, he said: “That means Bitcoin is the only one of the coins out there that gets to be a legal pyramid scheme. Just like gold is. All the gold ever mined in the history of the world fits in an Olympic-size swimming pool. You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is. While I believe in the underlying technology and believe in the crypto movement, when prices get stupid, I sell. A lot of my friends in crypto just couldn’t let go. They were saying that this is going to change the world. Revolutions don’t happen overnight. I’d be walking down the street, and people would come up to me wanting to take selfies. That’s when I started to think, OK, this is weird.” Always Cautious About Bitcoin as a Currency It’s more than obvious that he is still being cautious. A year ago, he was known as one of the biggest pro-bitcoin advocates but always saying that bitcoin will be difficult for governments to shut down. “I’ve got concern that if price movements go higher we’re going to get more regulation, but I think it’s hard to shut down. I don’t think that’s a probability. Banks will be slow to move into the industry,” Novogratz then said, adding that he “doesn’t see quick adoption of bitcoin as a currency.“ He also said that one of the big risks out there right now is that prices are moving so fast that regulators are going to get nervous. “I could legitimately see bitcoin go $13,000, $14,000, $20,000, $25,000 and see somebody balk.” He also warned on the fact that right now most regulators, including those in the U.S., are working with the digital currency system and are “intrigued” by it. Today, one thing where Novogratz remains firm is that he reiterates his view saying institutional entry is key for the Bitcoin price surge. Unless that happens, a sustainable price surge in Bitcoin seems a distant dream. Novogratz says that perhaps we can see a significant institutional money flow in the first half of next year, 2019. Steady Growth or Nuclear Winter for Crytocurrency? Despite a huge cryptocurrency market crash, VC billionaire Tim Draper believes, the value of Bitcoin will keep going higher in the upcoming years. Speaking to Thiel Macro’s Mike Green earlier this month, the billionaire said he believes virtual currencies will eventually overtake fiat currency, making up two-thirds of the world’s currency value. “Down the road, when we can easily spend, or invest, or do whatever we want with cryptocurrencies—they’re frictionless, they cost you less,” Draper told On the other hand, the billionaire investor and venture capitalist Jim Breyer believes that the promise offered by the technology is too great for it to be permanently buried by short-term market movements. Breyer kept saying that the technology is too big to be dismissed just because of a temporary bear market. He warned that “we’re close to a nuclear winter right now with cryptocurrency.” Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now
Coinspeaker

Cubits is Bankrupt and Withholding User Funds As OneCoin Ties Exposed

Anger continues to engulf cryptocurrency trading platform Cubits after executives suddenly announced the company was bankrupt, blocking all user funds. Cubits Owner: Funds Recovery ‘Unsuccessful’ In a press release dated December 11, Dooga Ltd., the UK-based entity trading as Cubits, claimed “collusion” which resulted in a “criminal act” involving the loss of €29 million ($33 million) in February 2018 had forced it to shut down. “Since February, Dooga has made every possible effort to recover these funds,” the release reads. Unfortunately – contrary to expectations – these efforts have been unsuccessful up until now. As Bitcoinist reported December 11, officials had told users on Twitter that Cubits was undergoing “maintenance” and would “be right back.” An identical message had appeared on the company’s website, but on Tuesday this changed to a 500 error message and the website went offline. A fresh tweet then confirmed Dooga had entered administration, leaving already frustrated users bewildered at the conflicting official information. Cubits had begun delaying withdrawals by weeks, some said, while another told Bitcoinist he was looking to involve law enforcement as a result of the company withholding his money. Payments Coordinator Endorses OneCoin At the same time, curious activity among senior management revealed the company’s payments coordinator Eloise Debono to be an advocate of OneCoin, a defunct Ponzi scheme, which has attracted warnings from multiple countries’ authorities over illicit practices. “Bitcoin can be bought and sold on many different exchanges, meaning you could be paying or receiving more or less than you should be,” she wrote in a bizarre article in 2016. OneCoin uses one centralised exchange called OneExchange, where there is a fixed rate for buying and selling. I personally think this is more secure and less volatile. COO Max Krupyshev, listed on LinkedIn as Cubits’ “head of crypto business,” left in November, weeks before users began to complain about withdrawal and funds access problems. Liquidator: Cubits Operator ‘Secure’ According to the company’s administrators, users will receive official correspondence about the debacle in the coming days. “Our goal is to achieve the best outcome for creditors generally at the earliest possible date,” Steve Parker from insolvency firm Opus Business Services Group commented. “Dooga’s current position is secure, investigations are proceeding and we will be writing to creditors, formally, this week.” What do you think about the ongoing Cubits debacle? Let us know in the comments below! Images courtesy of Shutterstock The post Cubits is Bankrupt and Withholding User Funds As OneCoin Ties Exposed appeared first on Bitcoinist.com.
Bitcoinist

Tezos [XTZ] up by 13%; boost comes after Huobi Global teases listing

Tezos [XTZ], the token which ranks on the 20th position on CoinMarketCap’s list, has been going through a rough patch, owing to the strong bear market. However, the time appears to have been changing for XTZ as it has been seen siding the bull. Source: CoinMarketCap According to CoinMarketCap, the coin was valued at $0.41 with a market cap of $252 million, at the time of press. The coin reported a 24-hour trade volume of $2 million and grew by 1.80% in an hour. The maximum trade volume of the coin was registered by Gate.io, with a market cap of $510,404 with XTZ/USDT pair. It was followed by UEX on the second and third position. UEX on the second position registered a trading volume of $398,341 with XTZ/USDT pair and on the fourth position, the market cap was noted to be $394,993 with XTZ/BTC pair. Source: CoinMarketCap This comes after the coin was valued at its lowest at $0.31 recently, with a low market cap of $192 million. The trading volume of XTZ was reported to be $3 million. The rise in the coin’s prices is speculated due to getting listed on Huobi Global. Huobi released a statement informing the crypto world about this. It read: “Tezos (XTZ) will be launched on Huobi Global on December 12, 2018 (GMT+8). Deposits will be available from 14:30, December 12, 2018 (GMT+8). XTZ/BTC and XTZ/ETH trading will be available from 18:00, December 13, 2018 (GMT+8). Withdrawals will be available from 14:30, December 16, 2018 (GMT+8).” Even though the coin is struggling to make over $2 million in trading volume, it has reported an uptrend by 13% over 24 hours. Meanwhile, there have been constant talks about Tezos being listed on Coinbase over the past couple of months and many holders are hopeful about the same. On December 7, Coinbase released a list of potential cryptocurrency list, which may be a part of the new listing. This listing included tokens like Cardano [ADA], EOS [EOS], Stellar [XLM], XRP [XRP], and also Tezos [XTZ]. An update is awaited on Coinbase’s end about the final listing. Tezos seem to be upping its game and fighting the bear head-on. The post Tezos [XTZ] up by 13%; boost comes after Huobi Global teases listing appeared first on AMBCrypto.
AMBCrypto
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