Augur

A decentralized oracle and prediction market platform.

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Augur (REP) Predictions Market Reaches a Control of the House Conclusion in Saying Republicans Won

The Augur predictions market has been waiting on a determination of their latest question – “Which party will control the House after 2018 U.S. Midterm Election?” On Reddit, an individual claimed to be a report for these predictions, stating that he will announce the Republicans’ control of the House in the response to this vote. The market ended on December 10th, though the Democrats won the election. The following day, on December 11th, a Twitter user commented: The Democrats won the election, but the market expiration date was 12/10/18. Because the date was not specified in the market & expiration date is 12/10/18, one could argue that Republicans is correct outcome. Democrats don’t officially take control until 1/3/19. — Nick Tomaino (@NTmoney) December 11, 2018 With predictions markets, the questions are somewhat complicated in their ultimate answer. The question asks who will be controlling the House, rather than who will be victorious in the election. Technically, both sides are presently correct – the Democrats will be controlling it in January, while Republicans are doing so now. The reporter, who uses the handle Poyo-Poyo on Reddit, posted a follow-up to the pre-announcement on December 11th. The post said: “I am sorry for any confusion or financial loss my gimmick house market may have caused. The intention is, and always has been, to measure the status of the House of Congress on the 10th of December, NOT the status after the new congress takes office. Thusly, I shall, and am required to, report as “Republican” when I submit my official selection for this market later today. Again, I am truly sorry for any damage to traders, or to the Augur Community as a whole for this ambiguity, and I hope the Augur World continues to thrive along toward the future, and I plan to continue to play my important role in its development over the coming years.” Now, considering that the post was four days ago, what is the present state of the prediction market? According to the official Augur Market website, the prediction is closed with 90% of voters believing that Democrats are victorious. Though it ended on December 10th, it was last traded only an hour ago.
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Augur House Elections Market: Alleged Reporter Says Republicans Won The Market

A person claiming to be the designated reporter for an Augur predictions market which asked the question “Which party will control the House after 2018 U.S. Midterm Election?” has posted to Reddit saying that he will be reporting that the Republicans control the house today. The market ends today, 12/10, and the Decmocrats, who won The post Augur House Elections Market: Alleged Reporter Says Republicans Won The Market appeared first on CCN
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Southern Europe Signs Blockchain Accord, House Bill to Promote Cryptos, CFTC Requests Comments on ETH, Augur Faces a Governance Question

The Ministers of France, Italy, Spain, Greece, Malta, Portugal and Cyprus have signed a declaration that states, among other things: “As a technology based on trust, we see Distributed Ledger Technologies as... The post Southern Europe Signs Blockchain Accord, House Bill to Promote Cryptos, CFTC Requests Comments on ETH, Augur Faces a Governance Question appeared first on Trustnodes.
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What Is Augur (REP)? | A Guide to the Decentralized Prediction Market

What Is Augur? Augur is a decentralized prediction market platform that utilizes the Ethereum network. In a prediction market, you can bet on the outcome of future events to get monetary prizes. The less likely an event is to occur, the bigger the reward you can earn predicting its success. Augur uses “The Wisdom of the Crowd” from predictors on the platform to create real-time predictive data that’s oftentimes more accurate than the leading experts.   By bringing blockchain technology to the prediction community, Augur provides you an option with fewer fees, greater accessibility, and better accuracy than other markets. In this Augur guide, we’re going to talk about: How Does Augur Work? REP (Reputation) Tokens Augur Team & Progress Trading Where to Buy REP Where to Store REP Conclusion Additional Augur Resources How Does Augur Work? The two primary actions available to you on Augur are: Creating markets Trading event shares Creating markets You need to spend a small amount of Ethereum to create an Augur market. Markets can be anything from “Will the price of Bitcoin hit $20,000 before the end of 2019?” to “Will aliens show up on Earth in 2018?” Originally, when you created a market, you would set the taker and maker fees (the cost to buy and sell shares on the books) of that market. Now, however, market creators set a creator fee, and there are longer maker/taker fees. The creator fee is a percentage of the rewards that winning traders receive. As a market creator, you receive this fee and it must be between zero and fifty percent of the winners’ rewards.  As a market creator, you want to keep the creator fee low enough to incentivize people to bid using your market. However, they need to be high enough to cover the initial Ethereum cost you spent to create the market. Trading event shares Besides creating markets, you can buy and trade shares that represent the odds that the event in a market will happen. For example, you see a market, “Will Bitcoin Cash reach $6k by 2020?” (For the sake of simplification, we’re going to stick with binary, yes/no, markets in this article. You can find a full explanation of the different markets here.) Because Coinbase recently added Bitcoin Cash to their platform, this market interests you. You’re fairly confident that it’ll reach $6k before 2020, so you put in a bid to buy 50 shares at 0.6 ETH a share. Shares are worth anywhere between  0 and 1 ETH. The higher the price you buy a share for, the more likely you believe that the event will happen.   Augur Interface There are two ways to make money as a trader. With fluctuating share prices, it’s possible to buy positions at a low cost and sell them higher as sentiment changes. Real world catalysts may cause an event to be more/less likely to happen over time. You can also earn money if you predicted an event correctly and hold shares when the market closes. The amount of your payout equals: Payout = Number of shares * Price / Number of ticks The number of ticks is the number of possible price points between the minimum and maximum prices in a market. You can short markets as well.  You need to pay settlement fees from each of your winnings. The settlement fees include the creator fee set by the market creator and the reporting fee used in the Decentralized Oracle System. The larger your earnings, the higher the fees you’ll have to pay. REP (Reputation) tokens The REP token powers the Augur Decentralized Oracle System. You stake REP to report on the outcome of events for the different markets. The reporting process is fairly complex. We’ll try to break it down step by step. When you create a market you need to choose a Designated Reporter and post a No-Show Bond. After the market event occurs, the Designated Reporter has three days to report on the outcome of the event (box ‘a’ below). If the Designated Reporter fails to report an outcome, you, as the Market Creator, lose your No-Show Bond and the event enters the Open Reporting Phase (b). In the Open Reporting Phase, anyone can report an event outcome. The first person to do so receives the No-Show Bond which they must use as their stake. If the Designated Reporter successfully reports an outcome, you get your No-Show Bond back. The Designated Reporter must include a stake with the outcome they report. Augur Reporting Process After either scenario, the market enters the Waiting for Next Fee Window to Begin state (c) and the market is given a tentative outcome. Following this state, REP holders can dispute the tentative outcome while putting up some amount of funds as their stake. Eventually, the outcome is finalized. Now, the intricacies of this process are much more complicated. So, if you’re interested in learning more, you should check out the official documentation. Augur Team & Progress Started in October 2014 as one of the first platforms built on Ethereum, Augur is an OG in the crypto world. Jack Peterson and Joey Krug lead the 13-person team. The two have ample experience working with blockchain technology and previously created Sidecoin – a Bitcoin fork. Augur Co-Founders Vitalik Buterin, the creator of Ethereum, is an advisor to Augur. The team released the first public version of Augur in June 2015. Shortly after, Coinbase selected Augur as one of the five most exciting Bitcoin projects of 2015. The beta version was released in March 2016. After a multi-year long beta period, the Augur team finally released the official main net in July 2018. Two weeks later, the team destroyed their ‘kill switch’, a piece of code that gave them control over the network in the event of a critical bug. Doing so further decentralized the project as a central entity no longer has control. Some people hypothesize that the team did this partly to exonerate themselves in the case of illegal markets popping up on the network. They have quite a lot in store for version two of the platform as well. Their roadmap includes DAI integration, a buyback and burn fee system, and ERC-777 support among other features. They have not announced a release date yet. Competition Augur’s biggest competitor is Gnosis. Both projects have teams with significant prediction market and blockchain experience and are using similar technology to create almost identical products. The major difference between projects is within their economic models. Augur collects fees based on trading volume while Gnosis fees are proportional to the outstanding shares. Even with similar products, the market is large enough that both of these platforms could realistically coexist. Trading Augur held an ICO in August 2015 in which they distributed 8.8 million REP tokens. There are and only will ever be 11 million REP tokens in circulation. REP traded between $1.50 and $2.00 (~0.0047 and ~0.0050) immediately after the ICO. The price has had several significant spikes in its history since then. baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[ scripts.length - 1 ]; (function (){ var appName = encodeURIComponent(window.location.hostname); if(appName==""){appName="local";} var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl+'serve/v3/coin/chart?fsym=REP&tsyms=USD,EUR,CNY,GBP'; s.src = theUrl + ( theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); The first occurred in March 2016 as a result of the beta release. The second was in October 2016 when investors received their REP tokens from the ICO. This caused the price to quickly increase before dumping as exchanges added support for the tokens. Although this seems like strange behavior, this is a common occurrence after ICOs. Many investors do this to get profits caused by the price increase that occurs between the time of ICO and when the company releases the tokens. The third and largest price increase occurred at the end of 2017, beginning of 2018. It reached an all-time high just shy of $115 (~0.00810 BTC) before following the rest of the market downwards for the majority of 2018. During this downturn, the price jumped significantly two times – once in April/May and another time coinciding with the main net launch in July. The platform hasn’t gotten the adoption that investors hoped it would, and the current price reflects that. You can get REP for about $8.77 (~0.00205 BTC) right now. The release of the network’s second version may lead to some positive price movement as well as additional adoption. Where to Buy REP Binance is the recommended exchange to purchase REP. Poloniex and Bittrex also support REP. As with most altcoins, you can only exchange for Augur using Bitcoin or Ethereum. To get started, you can buy Bitcoin or Ethereum on a platform like Gemini and transfer it over to your preferred exchange. From there, you can trade to get REP. Additionally, you can use Kraken to purchase REP directly with EUR. Take a look at CoinMarketCap for a complete list of exchanges where REP is available. Where to Store REP Augur has not built a specific wallet for the REP token, but you still have plenty of options. Jaxx and Exodus are two reputable online wallets that support multiple currencies, including REP. Because Augur is an ERC20 token, any wallet with ERC20 support will do. The recommended way to store REP is with a hardware wallet. Using a hardware wallet protects your funds from malicious software and hackers. The Ledger Nano S and Trezor wallet support REP tokens and are both great, secure options. Conclusion Augur is one of the oldest projects out there and was one of the first to be built on top of Ethereum. The platform is a decentralized marketplace for prediction markets and event likelihood stock trading. Augur uses “The Wisdom of the Crowd” to accumulate predictive data and report event outcomes. The team is experienced in working on predictive markets and has been iterating on their product for over two years now. With a successful launch in the books, Augur should pave the way for other dapps on the Ethereum network. Only time will tell if it gains enough adoption to fill this role, though. Editor’s Note: This article was updated by Steven Buchko on 12.01.18 to reflect the recent changes of the project. Additional Augur Resources   Website Facebook Twitter Reddit Github The post What Is Augur (REP)? | A Guide to the Decentralized Prediction Market appeared first on CoinCentral.
Coin Central

Announcing Lionshare

🦁 Simple cryptocurrency price and portfolio monitor for macOSNote: Lionshare is an open source product born from a Coinbase hackathon and not an officially supported product by Coinbase. But it’s fun and simple so you should try it out.A big part of cryptocurrencies today is price speculation. This shouldn’t be a surprise to anyone who has lived through the hype cycles, of which the most famous is Bitcoin’s 2013 winter bubble when it reached ~$1200 per bitcoin. The past few months have been especially exciting for owners of not only Bitcoin but also Ethereum, Augur and other cryptocurrencies which have grown in adoption and value during 2016.https://medium.com/media/2d3afe9017b09f3d51d2c0aef82589bc/hrefThis is why we decided to build Lionshare, your friendly cryptocurrency price and portfolio monitor. It focuses on simplicity and speed; living inside your macOS taskbar, you have instant access to accurate price information of 20 different cryptocurrencies. A big part of Lionshare is monitoring your portfolio. Instead of holding all your private keys, you can manually input amounts of different crypto assets you hold, or wish you would hold, and follow the progress of the portfolio over time. All prices are pulled from two popular crypto-exchanges, GDAX and Poloniex. To keep things interesting all the prices are updated in realtime so you’ll never miss a beat.Coinbase hackathon — more exciting in personOrigins of Lionshare lead to Coinbase, one of the leading cryptocurrency brokerages, where it started as a Friday hackathon project among the product team. Originally envisioned as a simple trading interface, it was a sandbox for trying out new ideas outside production systems. While it never fully shipped from the hackathon, the idea lived on and this past winter break we decided to rebuild it with the simple purpose of making the best and easiest price tracking service out there for cryptocurrencies.Early prototype of a trading interface which later became LionshareToday we’re excited to release Lionshare to the public. It’s been a fun side-project for us and we’re also excited to release all the source code on Github for anyone who wants to learn how to build realtime API powered desktop applications.The desktop application is built in using React, Mobx for state management, CSS Modules for styles and packaged for macOS with Electron. We utilized many of the same patterns and technologies we use in production at Coinbase and it should be easy to follow for people who are into learning either React or Electron.As there’s no single API that provides all the data and realtime feeds that Lionshare needs, we decided to build our own. The API is built using Node and Koa, and it provides historical price information together with realtime websockets feeds for current prices for up to 20 currencies and more will be added in the future. You can easily use it for your own project by spinning up a dyno on Heroku with their free Redis instance which is used for caching price data.We hope Lionshare inspires a whole new class of easy to use and beautiful cryptocurrency applications and also makes it easier for people to get into React, Electron and Node development. We hope to release more currencies and updates over time and hopefully Lionshare will make its way to other platforms in the future.— Jori Lallo, Ben Jennings and Maksim StepanenkoPs. Don’t forget to follow us on TwitterSpecial thanks to Coinbase for allowing us to release Lionshare as open source software. If you’re interested in building products to reinvent the future of finance, get in touch.Announcing Lionshare was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
The Coinbase Blog

Augur Price Turn Extremely Bullish Following 20% Gain on Bitcoin

It has become rather apparent today may not be the best day for cryptocurrency trading. Although all currencies can be scooped at up very appealing discounts, there is seemingly little room for upward momentum. One interesting exception is Augur, as the REP price is going up in spectacular fashion. This completely bucks the overall market trend, which has some traders excited first and foremost. Augur Price Shows Bullish Signs It is somewhat abnormal to see any cryptocurrency buck the overall market trend in such spectacular fashion. All of the major cryptocurrencies are subject to Black Friday discounts, by the look of things. Things are a bit different when looking further down the line, as the Augur price shows some signs of life amid this sea of value. Not only has this currency maintained its value, but it also rose above $10 once again. Over the past 24 hours, there has been an Augur price increase of nearly 16% in USD value. This uptrend is fueled primarily because of massive gains over Bitcoin – 21% – and Ethereum – 24%. This further shows Ethereum will face a bigger setback than Bitcoin once again, only deepening the gap between these two currencies in terms of total valuation. Across social media, there are some interesting Augur debates to take note of. As CryptoNewsWire points out, the current Augur price has hit a 2.5 month high. That in itself seems virtually impossible for most top cryptocurrencies under normal circumstances, let alone when dealing with such a massive setback once again. Even so, odd things tend to happen when people least expect it. That is also what makes this industry so exciting. REP/BTC 2.5 Month High – Augur (REP) price reaches 2.5 Month High – $REP $BTC #augur #altcoin #trading — CryptoNewswire (@CryptoNewswire) November 23, 2018 The social sentiment associated with Augur is still relatively neutral, according to The TIE. The increase in price, as well as the notable improvements in trading volume, further show it is difficult to convince traders and speculators these days. At the same time, a neutral outlook is very different from the bearish scrutiny most cryptocurrencies are getting right now. While the #crypto market continues to fall, #Augur is up 9.99% over the last 24hours. #Rep trading volume is 107% above average. Short-term sentiment is neutral. via https://t.co/NTt8ZqZcpm pic.twitter.com/xMzyvLF0Uw — The TIE (@TheTIEIO) November 23, 2018 Although the following Twee tin itself is not all that spectacular, it is quite interesting to note how there is a Twitter bot named “Botty McBotFace”. The way it tweets about cryptocurrency market movements is also rather interesting, as it offers some comic relief during these troublesome times for Bitcoin and most altcoins. Even so, it is evident the Augur price is well worth paying attention to right now, as things have shifted into a higher gear pretty quickly. Ooh! REP rises! Current Price (USD): $ 10.04 Vol: REP 2,401.11 Change (24h): 15.40% $REP #Augur — Botty McBotface (@AnalysisInChain) November 22, 2018 Despite all of the positivity surrounding REP right now, its overall trading volume remains virtually nonexistent. That is always problematic, as $3.4m in trades is simply not sufficient to keep this price trend going for very long. Although Binance traders will be more than happy to keep things going, the second exchange on the list is Bithumb, which seemingly trades REP at $50, according to Coinmarketcap. Very peculiar, all things considered. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Augur Price Turn Extremely Bullish Following 20% Gain on Bitcoin appeared first on NullTX.
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Sovereign Wallet Develops “Algorithmic Central Bank” and “Meta Blockchain” to Mint New Coins Pegged to Bitcoin

Sovereign Wallet Allows Customers To Mint “Meta Coins” That Are Pegged To Bitcoin In another positive piece of news for the crypto community at large, it now seems as though Sovereign Wallet, a crypto-tech firm, has devised a new platform that will allow users to issue their very own ‘value tokens’ as well as convert them into a host of different crypto assets. About Sovereign Wallet Over the course of the past few years, Sovereign Wallet has come up with a number of novel applications including a mobile wallet application that allows transactions to be facilitated with the “simple sending of a text message”. If that wasn't enough, the firm’s native offerings also come backed by “banking grade” security features that ensure a high level of individual privacy. From a vision stand point, the firm is looking to create products that are financially inclusive and thus can allow a wide array of unbanked individuals to access basic financial services directly through the use of their smartphones. In this regard, there are already quite a few tokens available on the platform. These include MUI, Ethereum, OmiseGo, 0x, Kyber Network, TenX, Status, TrueUSD, Golem, and Augur. If all of this this wasn't enough, it is also worth mentioning that Sovereign Wallet has also developed a custody-free decentralized exchange platform called M.DEX. This trading platform not only offers customers with a with fixed fee rate, but also leverages technologies such as ‘atomic swap’ so as to make low-cost direct transactions a reality. More On The Matter At the time of writing this article, the Sovereign Wallet ecosystem runs using an ERC-20 cryptocurrency that has been dubbed ‘MUI token’. In its most basic sense, we can think of MUI as a stable alt-token, whose value is protected by the automated stabilization tool called Algorithm Central Bank (ACB). As per the firm, ACB has been designed to manage the “supply of tokens on sale” as well as to help customers minimize the possibility of fraud or error while procuring other digital assets. Talking about his company’s latest offerings, Sovereign Wallet CEO, Seok Gu Yun, was quoted as saying: “In simple words, if the MUI coin is trading too low, the smart contract will automatically withdraw a required amount from the supply to increase the value of the coin.” Create Your Very Own Tokens As mentioned earlier, users of Sovereign Wallet have the option to mint their very own tokens through the use of the MUI Meta-Blockchain. According to the company website, it is a ‘programmable blockchain network’ that has be ability to support a variety of protocols on a single blockchain. Also worth mentioning is that using this technology, users have the ability to create a variety of pegged stable coins without having to create their very own blockchain ecosystem. In this regard, the project whitepaper states: “In the Meta-blockchain, anyone can create their own coin, preempting the need to develop a custom mainnet when issuing the cryptocurrency version of the local government or a country’s national currency”. Final Take If all of the aforementioned stuff didn't sell you on Sovereign Wallet already, service users also have the option to devise their very own crypto-collateralized “meta coin”, that is backed a stable crypto asset such as Bitcoin (BTC) or Ethereum (ETH). It now remains to be seen how the future of the company plays out from here on out.
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Altcoin Trio Aurora (AOA), Augur (REP) and Ark (ARK) Soar to Double-Digit Gains

A trio of relatively small-cap altcoins hit double-digit growth for Thursday, Nov 22nd, amid a generally quiet day for the larger coins. Bitcoin remains anchored around the $4,500 position, while Ethereum has found a new home at $130 for the time being. Aurora (AOA) Price Aurora has a history of reliably volatile price movement, despite […] The post Altcoin Trio Aurora (AOA), Augur (REP) and Ark (ARK) Soar to Double-Digit Gains appeared first on Hacked: Hacking Finance.
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Chainalysis: Value Of Bitcoin (BTC) Payments Falls By 80% From Jan. 2018 High

Bitcoin In Payments Becomes “Distant Dream” According to data from Chainalysis, routed through Reuters, the U.S. dollar (USD) value of Bitcoin transactions processed by this market’s 17 foremost payment processors (BitPay, CoinPayments, etc.) has fallen drastically, indicating that BTC’s long-touted medium of value use case could be a sham. Chainalysis, a leading crypto-centric analytics startup, revealed that from January 1st, 2018 to September, the aforementioned figure has taken an 80% hit, which is comparable to BTC’s ~70% collapse in the same time frame. To put this collapse into some much-needed perspective, in late-December/early-January, over $427 million in BTC was transacted in retail payments. Now, just shy of a year later, that figure has fallen to a mere $96 million. While the latter figure isn’t something to sneeze at, the fact that such a collapse occurred, even though BTC found some semblance of stability in recent months, isn’t a promising sign, at least for the short-term prospects of this market. Speaking of this statistics, London-based UBS strategist Joni Teves, likely referencing crypto’s most recent downturn and the lack of blockchain scalability solutions, noted: There would have to be a stability requirement if it is to become another form of money… But one thing that would take bitcoin into the mainstream is scalability — is it able to process the value or volume of transactions that money tends to do? While the former point can be solved through the rise of stablecoins, which have undergone had a ‘bull run’ of their own in the past two months, and the presence of institutional players, the latter is evidently a worry for a handful of industry savants. For instance, Joey Krug, an Augur co-founder turned Pantera Capital executive, pointed out that a lack of scalability solutions are directly holding back crypto assets. Although the cryptosphere just began to walk on its own two legs, Krug explained that scaling blockchain networks, while difficult, is something that innovators within this industry can accomplish with a dab of elbow grease, grit, and determination. While he was hesitant to state that the Bitcoin mainchain, arguably the pinnacle of crypto evolution, will reach thousands of transactions per second, the industry insider noted that there will eventually be blockchain networks that can surpass today’s centralized ecosystems. Underlining the importance of scalability, Krug stated: If you look at the internet, it is easy to say, ‘Well, you just create an app, get some users, and then you solve the scalability problems.’ But, here, these are all markets, so if you don’t have scalability, you don’t have market makers and so you don’t have liquidity. Maintaining this angle, the Pantera executive added that the proper scalability of current blockchain networks will drive the crypto market’s next round of exponential, jaw-dropping growth, which Krug says will boost digital assets values by 10 times. Still, the fact of the matter is that Bitcoin’s use in retail-related payments just isn’t there yet, in spite of the cries that BTC is the future of money. Have No Fear, The Lightning Network Is Here However, some have claimed that the Chainalysis figures and the aforementioned sentiment are nothing more than wanton, senseless FUD. Just recently, Ethereum World News reported that month-over-month, the number of on-chain Bitcoin transactions is increasing, and by a solid percentile at that. Moreover, even amid bearish market conditions and an unexpected sell-off, Bitcoin’s Lightning Network has seen unprecedented growth. Lightning, a scaling solution that is aimed at offering near-feeless, near-instant, and low-impact Bitcoin transactions to consumers, merchants, and institutional players, saw its network capacity shoot up by 200% in recent months, nearing the $2 million throughput milestone. Ed Cooper, Revolut’s cryptocurrency head, noted that Lightning can be a game-changer for BTC, which has been beaten to hell and back in the past year. Cooper told Reuters: Lightning solves some of bitcoin’s scaling issue… It’s getting payments into the wild, [and] into the network. So, with the widespread adoption of the Lightning Network likely being just months away, there’s a chance that the diehard crypto investors of today won’t need to sit on their hands for too much longer. Title Image Courtesy of Andre Francois Via Unsplash The post Chainalysis: Value Of Bitcoin (BTC) Payments Falls By 80% From Jan. 2018 High appeared first on Ethereum World News.
Ethereum World News

[VIDEO] Crypto Daily News Recap For Today November 15th: BCH Fork, IBM & Market Update

OKEx Crypto Exchange Adds Support for Vietnamese Dong (VND) in Fiat-to-Crypto Expansion OKEx Crypto Exchange Adds Support for Vietnamese Dong (VND) in Fiat-to-Crypto Expansion Augur (REP) Blockchain Predictions Saw Big Volume on Election Night, But Days After Tell the Story Augur (REP) Blockchain Predictions Saw Big Volume on Election Night, But Days After Tell the Story Bitsane Becomes Very First Ever Crypto Exchange to Support an EUR/USDT Tether Trading Pair Bitsane Becomes Very First Ever Crypto Exchange to Support an EUR/USDT Tether Trading Pair Spanish Telecom Giant Telefónica and IBM Blockchain Partner for Phone Call Traffic Project Spanish Telecom Giant Telefónica And IBM Blockchain Partner For Phone Call Traffic Project Malaysia Gov't Gets Requests to Finalize Crypto Regulations Before Approving Harapan Coin (HRP) Malaysia Gov't Gets Requests to Finalize Crypto Regulations Before Approving Harapan Coin (HRP) Crypto Market Falls to a New 2018 Low, Loses Close To $28 Billion in Market Cap in Just A Day Crypto Market Falls to a New 2018 Low, Loses Close To $28 Billion in Market Cap in Just A Day Shanghai's Point95 Global To Launch Cryptocurrency Trading Fund with Licensed Asset Manager Shanghai's Point95 Global To Launch Cryptocurrency Trading Fund With Licensed Asset Manager Bitcoin Cash Price Analysis: BCH/USD at a Precipice, Hard Fork Uncertainty Fueling Sell Off Bitcoin Cash Price Analysis: BCH/USD at a Precipice, Hard Fork Uncertainty Fueling Sell Off What Happened to Bitcoin's Value and Why Did BTC Price Free Fall so Fast? What Happened to Bitcoin's Value and Why Did BTC Price Free Fall so Fast? What's to Come Right After the Bitcoin Cash (BCH) Blockchain Mining Hashrate Power War? What's to Come Right After the Bitcoin Cash (BCH) Blockchain Mining Hashrate Power War? ViaBTC Calls Craig Wright a Lunatic and Tyrant Who Wishes to Kill Bitcoin Cash (BCH) ViaBTC Calls Craig Wright a Lunatic and Tyrant Who Wishes to Kill Bitcoin Cash (BCH) BitGo Crypto Custody Service Adds New GUSD and USDC Stablecoins Options to Impress Institutional Investors BitGo Crypto Custody Service Adds New GUSD and USDC Stablecoins Options to Impress Institutional Investors Donald Trump's Acting US Attorney General Faces Fire for Allegedly-Backing a Crypto Scam ‘World Patent Marketing' Donald Trump's Acting US Attorney General Faces Fire for Allegedly-Backing a Crypto Scam ‘World Patent Marketing' Live Look at the Bitcoin Cash Hard Fork: BCH Teams ABC, SV and Crypto Community Takes Live Look at the Bitcoin Cash Hard Fork: BCH Teams ABC, SV and Crypto Community Takes Ripple's RippleNet Welcomes CIMB Group to Power Instant Payments Across ASEAN Ripple's RippleNet Welcomes CIMB Group to Power Instant Payments Across ASEAN Is Bitcoin a Medicine? The Bitcoin Standard Book Author Dr. Saifedean Ammous Believes So Is Bitcoin A Medicine? The Bitcoin Standard Book Author Dr. Saifedean Ammous Believes So Should the SEC have Federal Jurisdiction Over Cryptocurrencies? Congressman Aims to Sidestep Securities Law Should the SEC have Federal Jurisdiction Over Cryptocurrencies? Congressman Aims to Sidestep Securities Law CargoX Blockchain Solution for the Import and Export Shipping Industry Launches CargoX Blockchain Solution for the Import and Export Shipping Industry Launches Bitcoin Mining Ringleader Bitmain Denies Reports Jihan Wu was Booted in Board Reshuffle Bitcoin Mining Ringleader Bitmain Denies Reports Jihan Wu was Booted in Board Reshuffle Top Bitcoin Mining Player Canaan Creative Allows HKEX Filing to Lapse, Leading to Delay of IPO Possibly Top Bitcoin Mining Player Canaan Creative Allows HKEX Filing to Lapse, Leading to Delay of IPO Possibly
Bitcoin Exchange Guide

Augur (REP) Blockchain Predictions Saw Big Volume on Election Night, But Days After Tell the Story

The Block recently reported on the impact that the election had on the Augur market, commenting that the midterm elections will “hopefully” have pushed Augur’s market over $1 million. If that is the case, then Augur would be able to show that a decentralized prediction market has its advantages. There is already a centralized version of the service – PredictIt – which seemed to bring in slightly more volume. The actual amount that the platform managed to bring in varies on the price of ETH, since that is the token used for the prediction bids. On the day of the midterms, the Augur market saw a total volume of $2 million, while PredictIt saw $2.4 million. There were a few differences in how the two platforms handled their bids. PredictIt, which is a legal entity, stopped bets from going higher than $850 per person, before adding a 10% fee. The servers went down for a short time during the vote count, though traders were trading in real time. However, Augur had no server issues at all during the election. Right now, many Americans know PredictIt as the only outlet to allow for betting on political elections, considering that it is a law that wagering on elections is generally criminalized. However, this entity has certain limitations that they have to abide by to prevent violating the regulations of the Commodity Futures Trading Commission (CFTC). The unique difference with Augur is that it is a decentralized entity, which means that it cannot be censored. As a result, users are able to make bets of all sizes. If the market was truly fair, then that would not be an issue. By distributing the funds successfully, then Augur would show that they can handle the global betting on various elections in a way that centralized options simply cannot do right now. However, the only question is – can they do it? The next six months after the election are going to make a big difference in if they can succeed. The market does not actually conclude until December 10th, which is when many of the settlements happen. The creator of this market has the next three days to make an unofficial report on what the market’s present status in, specifically outlining their opinion on which side prevailed. Then, REP holders (reporters) have up to a week to contest it. Any holder has the option to stake their tokens in the dispute, which could give them a 50% return. None of this could be mentioned without also bringing up a single transaction that stood out – an unknown purchase of $40,000 worth of losing shares. It would not be that unique if that transaction did not come in just after the results of the election came in. According to The Block, “He would offer up to 0.05 ETH to bet on a Republican House win that would pay out at 1 ETH — a possible return of 20X or more depending on the precise prices paid to acquire the apparent ‘losing shares.’” If that bet works out in the trader’s favor, he stands to receive hundreds of thousands of dollars, though most people would agree that the bet will ultimately pay nothing. However, based on the specific timing and amount of the wager, it looks like an experienced trader made this calculated decision, which has made other traders feel uneasy. The midterm market posed the question – “Which party will control the House after 2018 U.S. Midterm Election?” The market was given one month to make the wagers from the election night, considering that the adjustments to Congress were not actually made on the day of the elections. That considered, The Block points out that “The outcome of the market was known at the very time the market was created. This would normally be a recipe for what’s called an ‘invalid market.’ If reporters ultimately deem a market to be invalid, then shareholders are all paid out proportionally. For example, since there are three outcomes in this market — a Democratic, Republican, and Tie share — each would each pay out ⅓ of an ETH if the market is deemed invalid. If the reporters somehow conclude that this market should settle as Republican due to this wording, then this new entrant would be in for a huge pay day. But that shouldn’t happen, given Augur’s dispute process.” The most likely situation is that the market will ultimately be disputed with all of the funding at stake. Another market, called the “Bastille market” had 15 reporting rounds, and essentially became the “case law” regarding subjective markets and whether they should even be placed on Augur. Basically, there are three outcomes being examined, according to The Block, who put them in order of likelihood, starting with the most likely option. They are: Democrats, which would require the reporters to say that the traders were better on the part that ultimately gained control of the House. Invalid, in which the reporters would say that the outcome was known, and the bets would be called off Republican, in which reporters would “read the English language with a highly technical lens and resolve the market counter to those who appeared to purchase winning shares.” Basically, if the reporters do not settle on Democrats, Augur’s platform is basically unnecessary. There are many purists that believe an invalid market decision would be the best. However, considering the millions of dollars involved, ruling against the Democrats would show traders that Augur is not a trustworthy platform and they cannot be counted on to follow through with the expected choice. Having this negative outcome would basically keep others from wanting to use the app. REP tokens would take a major hit, and the price would plummet. There are many markets in disputes right now, with over 300 of them expiring by the year’s end with significantly more ambiguity. As 2019 begins, Augur will lose 95% of its open interest, and there is a good chance that traders would want to protect themselves from August from now on. As the Block puts it, “The friction, uncertainty, and time to settlement make for a negative experience for a trader.”
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Crypto Bear Market is So Bad That an ICO is Day Trading its Holdings

Every day, the crypto market is on the verge of entering darker territory, and as prices continue to plunge, many cryptocurrencies have become the victims of sudden sell-offs. An initial coin offering (ICO) called Substratum has even taken to day trading its present ether holdings to make up for potential losses. In a YouTube video, a figure named Justin from the Substratum network announces that the company is opening the doors to a token swap set to begin on Monday, December 17. The smart contracts for the company will begin then and batch transactions will start happening over the Ethereum network. Old Crypto Becomes New Crypto Prior to this date, executives will be moving any remaining Ethereum tokens in their crowdsale wallet over to a new wallet. If a person’s tokens are on Binance, the switch will be occurring natively through the exchange. Thus, customers will not need to worry. If a customer’s tokens are locked up in a wallet for an airdrop, they too will not need to take any steps. The move from the present wallet to the new wallet will occur on its own time. All older tokens will become frozen and unusable while the new tokens will be transferred into customers’ wallets. The company is also moving from two decimal places to 18 decimal places, which representatives claim will make transactions faster and more efficient. The smart contract has been fully audited by Quantstamp; furthermore, 120 million old tokens have been burned thus far. They will not be coming over through the transfer but will rather disappear into what Justin calls “the ether.” These tokens are set to disappear completely. The transfer will not be done within a set timeframe. The transfer is indefinite and will last until all customers’ wallets have received their new tokens. Predicting What the Future Holds Substratum now has a full-time trader on staff, who has suggested that Ethereum is going to be continually tested over the coming months. The bear market is not letting up and he has stated that Ethereum could fall to as low as $60. Executives are not necessarily looking to cash out. Instead, they will be trading only a portion of the Ethereum they possess, which they claim will give them the chance to “trade up” and potentially earn a little revenue before the crypto market falls any further. Once the market becomes bullish again, Justin claims in the video that Substratum will be in a better place and will be able to create newer (and better) products. Do you foresee the market getting even worse before it gets better? Post your comments below. Image courtesy of Shuttershock The post Crypto Bear Market is So Bad That an ICO is Day Trading its Holdings appeared first on Live Bitcoin News.
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States Take Cryptocurrency Regulation Into Their Own Hands As US Federal Government Focuses On Blockchain

States Take Regulation Of Cryptocurrency In Their Own Hands, As US Federal Government Focuses On Blockchain Technology The regulation of cryptocurrency has been an ongoing problem for the United States (US). They have managed to outline particular processes involved with blockchain technology and have many trials that examine the way that it works in their industries. However, the fact that even government authorities have different classifications for the same token groups makes it hard to know how to handle them. As a result of the confusion, any states are working to become the friendliest places for cryptocurrency. Ohio even made an announcement recently that they would allow their residents to cover taxes with the use of crypto payments. In the meantime, the authorities are still in a state of confusion with defining and regulating the assets that clearly are in demand for residents. The ones making the most noise about the lack of organization of the federal policies aren’t stakeholders or even enthusiasts; these concerns also involve academics. Carol Goforth, a professor at the University of Arkansas, recently noted that there are presently four different regulators within the federal government that oversee how digital assets are dealt with, from their categorization to their issuance, and further. These four entities are the: Commodity Futures Trading Commission (CFTC) Securities and Exchange Commission (SEC) Financial Crimes Enforcement Network (FinCEN) Internal Revenue Service (IRS) The CFTC sees crypto assets as commodities, though the IRS shares a similar view in calling them property. The FinCen, which is run by the Treasury Department, regulates them with the same rules as fiat currency, but the SEC sees them much differently as securities. Professor Goforth expressed her skepticism that the regulatory entities would work together anytime soon, leading her to encourage the coordination between them for a more nuanced approach. As she puts it, her version of the rules would force the federal government to deal with each cryptocurrency as it is introduced, specifically identifying them by their functionality and the motivations of users. This is a path that at least one instance shows is happening within the federal regulators. The CFTC publicly requested details on the functionality of Ether and the Ethereum Network on December 11th. The document has 25 different questions that deal with the platforms purpose, functionality, scalability, and more. However, the effort to address a single asset by the CFTC isn’t necessarily a sign that the industry is turning towards the idea that the professor had in mind. None of the other regulators have taking this move and are holding on to the regulatory measures that they already have in line. Still, there’s always a chance that congressional legislators will make some changes in their framework. Darren Soto and Ted Budd, who are both US Representatives, brought in two bills on December 6th that will help with the improvement of regulatory framework and reduce the risk of price manipulation. These bills are called the Virtual Currency Consumer Protection Act of 2018 and the U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018, respectively. These two bills offer specific regulatory changes that could be made for the process to be smoother for exchanges, users, and everyone else involved. The first bill discusses that many situations that can arise in the market for price manipulation. The other requests an in-depth study that aims to improve the “burdensome regulations that may inhibit innovation.” Warren Davidson, the representative of Ohio, spoke at a conference in Cleveland where he noted his intent to bring in a new bill that would create a new asset class for tokens. As such, the regulation of initial coin offerings (ICOs) would become significantly less difficult. A week later, Davidson suggested a crowdfunding event to help with the creation of the US-Mexico border wall, which would include the use of blockchain and “wall coins.” Even though there appears to be a significant lack of clear regulations regarding cryptocurrency, blockchain technology is already being applied to daily operations. The use of this ledger with supply chain logistics is easily its biggest application, and federal authorities are looking to use it for food safety as well, especially considering the recent E. coli outbreak. The Department of Homeland Security announced their intention to use the technology as a way to protect their own activities. Their three subsidiaries are working together for a clear record of documentation that will help with fraud, counterfeiting, and forgery. The defense authorities for the federal government recently established an app that would help the members of the armed forced to learn how to use blockchain technology for the supply chain as well.
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Bitcoin Supporter Says Crypto is Unconfiscatable as Long as It’s Not in Regulated Exchanges

Bitcoin has many different features, but one of the most important is the fact that users are the real owners of their funds as long as they keep their private keys. However, when users have their funds stored in exchanges, Bitcoin can be confiscated. During a Q&A session during a Tampa Meetup, he said that Bitcoin being non confiscatable applies to exchanges that are not regulated. In general, centralized virtual currency exchanges are not a safe place where to store funds. The company behind the exchange is able to manage the funds as it considers, block some accounts and even experience security issues. If Bitcoin wants to remain non confiscatable, the best what a person can do is to store them in cold storage wallets. No one is able to move the funds from there unless they have the private keys. At the same time, he said that Bitcoin does not have just a single price because there are different markets listing it. He compared the price of Bitcoin (BTC) with Apple stock explaining that Apple’s stock price is determined by supply and demand in just one place. He has also talked about Bitcoin ETF and the fact that to have a stable price of Bitcoin everything needs to sit in one place. He went on saying that having all the BTC in one place is a risk even when it creates a more stable market. For example, he emphasized the fact that if all the BTC are located in just one exchange, hackers might focus only on it. Furthermore, the US government would also have the possibility to confiscate the BTC that users own or trade them. There are several crypto platforms that are regulated, including exchanges such as Coinbase or Gemini. Governments would be able to confiscate the funds that users have on these exchanges, thus deleting one of Bitcoin’s main characteristics. Moreover, he said that Bitcoin being under the control of governments is not positive for the space. A lot of people would completely lose the faith in the popular virtual currency. This is exactly what Satoshi Nakamoto was trying to avoid when it created Bitcoin.
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Hong Kong Businessmen Targeted by Bitcoin Bomb Threats After Recent USA and Canada Attempts

There have been many different ways to steal funds from individuals in the cryptocurrency market. However, a new methodology has been applied in Hong Kong and other countries such as the United States. According to a recent report released by the South China Morning Post, businessmen in Hong Kong are being targeted by criminals that want to steal Bitcoin from them. These scammers try to steal Bitcoins from victims by threatening them that they will receive a bomb if they don’t send Bitcoins in the time span the scammers provide. One of the affected individuals is Michael Gazeley, the CEO of Network Box. He received a message in his business email with this Bitcoin bomb threat. Furthermore, he said that he had to pay $20,000 if he wanted to avoid receiving a bomb in his office. Gazeley said to the news outlet: “This looks like the third wave of blackmail emails plaguing the world in the past few years… I have never seen something like this, which sounds like cyberterrorism, in my 20-year career in cybersecurity.” Nevertheless, he was 99.99% sure that the message was not worth. Indeed, he mentioned that the email had some typo mistakes and the grammar used was not exactly good. That shows that the main intention is to take a few bucks from some individuals rather than really bombing an office. Hong Kong authorities did not provide further information about this issue, thus it is not possible to know the exact number of companies affected by these threats. This is not the first time that there are Bitcoin bomb threats around the world. A few days ago, as reported by NBC New York. Hoax bomb threats spread asking users to pay in Bitcoin. The New York Police Department (NYPD) informed on Twitter that there was an email circulating that contained a threat asking for a Bitcoin payment. However, they say that they did not find any devices in some of the places where the threat arrived. Please be advised – there is an email being circulated containing a bomb threat asking for bitcoin payment. While this email has been sent to numerous locations, searches have been conducted and NO DEVICES have been found. pic.twitter.com/7omOs13Z7Q — NYPD NEWS (@NYPDnews) December 13, 2018 The NYPD went on explaining that the threats are meant to cause disruption and/or obtain money in a fast way. Although the police will be responding to the calls made by the community, they believe that the threats are likely ‘not credible.’ This is not the first time that there are scammers trying to steal Bitcoin and other virtual currencies from users. Earlier this year, scammers on Twitter were asking for Bitcoin and ETH deposits using fake accounts that stole famous people’s identities.
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