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Online giant Newegg accepts Bitcoin formula

In a statement by Managing Director Soren Mill, the company explained that the Bitcoin fits well as a payment option, especially as customers have an early adopter mentality:

was hungrily awaited. The Los Angeles-based company, which has revenues of $2.8 billion in 2013, today announced the launch of Bitcoin. The company will use BitPay as its payment processor. The Bitcoins received will be exchanged directly into USD.

In a statement by Managing Director Soren Mill, the company explained that the Bitcoin fits well as a payment option, especially as customers have an early adopter mentality:

„The Newegg customers are among the early Bitcoin miners and they are enthusiastic supporters of the digital currency. The acceptance of Bitcoin is a further step towards meeting the needs of our customers“.

Great demand for Bitcoin formula integration

For months now, Newegg has been talking about Bitcoin formula integration. Various Twitter „teasers“ have already pointed to Bitcoin integration in the past. Here is the review about the Bitcoin formula.

„Our customers have asked us on Facebook Twitter & Co. whether we don’t want to integrate Bitcoin,“ says Mills. „Months before the integration, we spent a lot of time clarifying legal and strategic issues to ensure a smooth process.“ Mills says.

Online trading has been slowly opening its doors to Bitcoin since last year. Competitor Tiger Direct has been accepting the digital currency since January of this year, following Shopify, which Bitcoin introduced in November 2013. Overstock.com, also a giant in online trading, has been accepting Bitcoin payments since January 10th.

Increasing acceptance

Overstock’s Bitcoin sales figures look better than some expected. By March, the company had already raised $1 million in Bitcoin and expects the figure to rise to $20 million in Bitcoin by the end of the year. The popularity of Bitcoin as a means of payment was a big surprise for many. Even for overstock managing director Patrick Byrne.

Newegg itself expects an increase in sales figures for certain product segments with the introduction of Bitcoin as a means of payment. Especially Bitcoin Mining Hardware, which ultimately led to Bitcoin acceptance, will increasingly be paid for in Bitcoin.

Mills explains:

„We already offer our customers many components that are used for Bitcoin Mining. These include special graphics cards, mainboards and coolers.

Such large companies as Newegg and Tiger Direct will help to stifle the two biggest criticisms of Bitcoin as a means of payment in the sand.

One of the points is that the blockchain is said not to be able to handle such large transaction volumes. The second point of criticism is that payment processors like BitPay or Coinbase may not be able to handle the price fluctuations with such large amounts.

„After we brought BitPay on board and set up the payment process, everything went very quickly,“ says Mills.

Fast growing market
Forbes lists Newegg as the 172 largest private company in the USA. The company was founded in 2001 and employs 2,600 people. Since its founding, the company has consistently been profitable and profitable.

Bitcoin-Scam: Singapore struggles with wave of fraud

Bitcoin investors in Singapore are currently struggling with targeted misinformation. Thus, gullible investors have lost over 70,000 US dollars in recent months. The authorities in Singapore now want to take stronger action against such Bitcoin scams.

With this simple trick, you win $1,000 an hour – guaranteed! Your boss will hate you for it! With this method you generate passive income, the next holiday is guaranteed!

Anyone who moves in one way or another on the Internet will be aware of such announcements or advertising placements. Although the „guaranteed profit“ keyword should sound the alarm bell, the Singapore authorities are seeing an increase in Internet fraud related to Bitcoin.

Cryptosoft advertise with high profits

Accordingly, local media report that cryptosoft investors in Singapore have lost a total of 78,000 US dollars in recent months. The scam they fell victim to was directly tailored to Singapore residents. To this end, the initiators of the Bitcoin Scam have placed advertisements on which local celebrities have lured with guaranteed profits when investing in Bitcoin. In the ads, seemingly trusted celebrities advertise that investing in Bitcoin is a lucrative, risk-free investment opportunity.

Naive investors would be asked to provide their personal details and then be assigned a personal „advisor“ immediately afterwards. This person would then do the persuasion work until the bounced investors sent their money to crypto nirvana.

Authorities warn against fraud scheme

Now the city’s financial supervisory authority is warning against such fraud schemes. The Monetary Authority of Singapore therefore points out that investments in crypto currencies, especially if they are cross-border, cannot be monitored by the authorities in Singapore.

Singapore working on legal framework for asset tokenisation
Singapore is currently working on a platform for token-based securities. In cooperation with Nasdaq, Deloitte and Anquan, the exchange supervisory authority wants to create an opportunity to provide a legal framework for the tokenisation of assets.

Despite the bear market: Why Factom records full price gains?

We are in 2018. The crypto market is in the red. No! An unyielding token does not stop resisting the bears.

The whole crypto trader market?

The correlation between the prices of Bitcoin and those of the Altcoins is known to be high. However, jewels appear again and again, which successfully hold their ground against the trend of the BTC, despite all crypto trader prophecies of doom. In this case it is about Factom (FCT). The coin creates its very own bull market, because within the last 14 days FCT could increase in value a full 99 percent. Time to take a closer look at the coin.

First the bare numbers. The gem Factom ranks 53rd on CoinGecko, has a market capitalization of just over 78 million US dollars and a daily trading volume of over four million US dollars. The company has been in existence since 2014, the Genesis block was mined on September 1, 2015 according to CoinGecko.

What is Factom?
In one sentence: Factom is a protocol designed to ensure data integrity. This includes a number of solutions to guarantee the integrity of stored documents such as digital identities, invoices and proof-of-existence files. Changes to the documents can then be viewed via the blockchain.

How does this work?

This blockchain cannot do without tokens either. Factom has two: Factoids and the so-called Entry Credits (EC). The former can be freely traded by investors on exchanges. The prices that recur on CoinGecko with the ticker FCT apply strictly speaking to the Factoid tokens.

Users can then buy EC with the Factoids. In the next step, these entry credits are the way to the block chain. According to the white paper, each EC authorizes users to block one kilobyte (KB) of data volume on the Factom servers, the „Federated Servers“, for their own use.

However, these servers are not in the hands of Factom itself. For their services, i.e. the computation-intensive processing of the protocol, the company rewards the Federated Servers princely. This is because Factom makes a total of 73,000 FCTs available every month, which are distributed proportionately to the server operators.

Bitcoin rate below 7,000 US dollars: Strong dump in the crypto market

Bitcoin has been affected by a significant dump since 5 September at around 12 noon European time, and the same applies to most Altcoins. With double-digit losses the Bitcoin falls again under the mark of 7,000 US dollars. Thus, however, the cryptoprimus is still doing comparatively well.

Then one had prepared oneself for another quiet to boring afternoon, which continues the sideways movement of the last days, and then this: Punctually to the lunch break the crypto currencies start to a collective nosedive flight. With a few outliers the charts of the Top 100 turn red by the dozen, the loss is almost always in the double-digit percentage range.

With a loss of just four percentage points, the industry leader Bitcoin can still consider itself comparatively fortunate. However, this drop is sufficient to push it back below the 7,000 US dollar mark, which has become the reference value for the Bitcoin share price in recent weeks.

Not only the news spy is doing badly

The prices of the other listed crypto currencies develop in the same period as expected depending on the news spy. Thus, the top 10 crypto currencies Ethereum, XRP, Bitcoin Cash, EOS, Cardano and Monero are suffering double-digit losses like this: Meanwhile, the total market capitalization of the cryptographic market has fallen to 220 billion US dollars.

One of the few not affected by the dump is currently Bitcoin Diamond. Here, the current exchange rate is 2.95 US dollars. Thus Bitcoin Diamond has gained 127 percent in the last 24 hours. Also in the course of the week the coin registers a plus of 107 per cent, in the course of the month this is 80 per cent plus.

The chart technical perspective to the dump

From a chart technical point of view the MA20 is in the way again. The Bitcoin price could rise up to the resistance indicated on 3 September, but bounced off the moving average of the last 20 weeks:

What does that mean now? If the exchange rate continues to develop in this way, it could well fall below the 6,000 US dollar mark again. However, a closer look at the daily chart shows that there is still reason to hope for a positive reversal:

You can see that the price is currently testing the EMA50. Even if it falls below this level, it is still possible to undercut the downward trend pursued since January. Currently, the MACD line (blue) is falling, but is still above the signal (orange) and is positive. The dump consequently led to a fall of the RSI to just above 50. So there is still room for a bullish development from the Bitcoin price. It is important to observe whether the price can hold above the support described by the downward trend, which currently stands at around 6,600 US dollars. If it falls below this level, the upward trend started at the end of August is broken and one can expect further price losses.

Ethereum Enterprise? Details about a secret blockchain project

According to several sources involved in the project, this project is taking shape. The goal is to make Ethereum more suitable for business users. Rumor has it that the project, called Enterprise Ethereum, is behind an unnaturally large curtain of secrecy – especially for participants who are known for their work in open source communities. Based on the comments from the sources, the group – which is rather a broad consortium – should remain silent until it is ready for the upcoming launch.

And yet the first information about the Bitcoin loophole comes to the public

On Thursday, December 15, a group of startups and representatives of the world’s largest financial institutions met in New York. There the biggest problems that have made business applications difficult for the Bitcoin loophole so far were to be discussed here: httple/. At the so far unpublished place also some banks with strong turnover are supposed to have gathered, at least one of them is supposed to have been a member of R3CEV so far. In addition, a stock market and a large software provider were on site.

Independently confirmed participants were Deloitte’s Blockchain descendant Nuco, the Taiwanese Blockchain Consortium Amis and ConsenSys, an Ethereum platform known for working with major tech companies such as Red Hat and Microsoft.

Although all parties involved have remained discreet so far, the leaked details are slowly giving a picture. ConsenSys Chief of Staff Jeremy Millar, formerly with Goldman Sachs and Barclays, CoinDesk described the secret project as follows:

„We are working with a large number of Ethereum business users from the banking, energy, supply chain, insurance and other industries. We are also working with leading technology vendors and blockchain start-ups to create a common standard for private Ethereum networks. According to Millar, who joined ConsenSys after the founding of the consulting firm Ledger Partners LLP, the work will be done in partnership with several Ethereum Foundation members and core developers.

Emphasis on data security

Alex Liu, founder of the Blockchain Consortium Amis, was also present at the meeting. As a former Qualcomm and Samsung employee, Liu pointed out that the Ethereum Enterprise project will provide „enterprise-level“ solutions. In addition, users will be offered tools to ensure the data security of transactions – a major problem for institutions today. He explained that the technology would enhance the strengths of today’s Ethereum Public Blockchain.

„The scalability, security and privacy that any enterprise blockchain needs will be added or addressed,“ explained Liu CoinDesk:

„But one will also see interaction with the public blockchain.

In the days following the Ethereum Enterprise meeting, Nuco co-founder Matthew Spoke confirmed that he had attended the event in New York.

Possible motivations
So far, the reasons for the secrecy seem to come from a purely competitive idea, since the rest of the blockchain industry does not sleep. But there are reasons why one can be sceptical about this reason.

Former IBM blockchain developer Henning Diedrich, who left the company last year to develop his own smart contract language, explained that Ethereum Software was already able to create private blockchains. He was able to test this in IBM laboratories.

However, the early stages of enterprise products such as Hyperledger and R3CEV’s Corda platform may push companies to try a more frequently tested alternative such as Ethereum.

While Diedrichs said that Ethereum developers could further improve the product, he does not see the need for a large Ethereum Consortium.

„Of course, it can always be made easier,“ he said. „But you’re already pushing the envelope.

Von Bitcoin und Blasen: What are investment bubbles?

Of Bitcoin and bubbles – in our three-part book we explore what constitutes speculative bubbles, whether we are currently in a bubble and what the future could look like. Today: What are investment bubbles?

„Money alone does not make us happy. It also includes stocks, gold and land.“

The comparison with the soap bubble is no accident: it shimmers, contains only air in principle, has a short service life and then bursts just like that. Investment bubbles are similar. Something is artificially inflated, so that from the outside it seems much more important and above all more valuable than it actually is. In the hope of getting rich quickly, people then pay too high prices without the actual value justifying it.

Everything shimmers so beautifully colorful – but what is behind it?

Tulip mania – expensive tulips, greedy investors. A popular example of speculative bubbles is the 17th century tulip mania in the Netherlands. Tulips were a popular ornament here – members of the richer houses in particular liked to decorate their pompous gardens with the handsome lily plants. At first the members of the noble houses exchanged among each other – after all one wanted to get a high variety in his gardens.

Then the market took up the cause – more and more people realized that the tulips or their onions were ascribed a high value. Thus began a wild trade based on speculation: people paid more and more money for their tulip bulbs. In the end, this spread through all strata of the population; behind every tulip bulb suddenly hid the promise of becoming rich.

The bursting of the bubble

The bubble swelled – while the price continued to rise, the value remained the same – apart from the promise to grow into a piece of jewellery, the tulip didn’t offer much. (One may be able to eat it, but the nutritional value is very low here). Accordingly, the price dropped again quickly. Many speculators had gambled away house and court and now sat there with their worthless tulip bulbs – the bubble had burst.

One factor was responsible for this. The difference between the fundamental value and the bubble component. While the former represents the material intrinsic value of the tulips, the latter – strongly broken down – represents the option of profit. But we are moving further into the future.

Everything bubble or what? From tulip mania to DotCom bubble
The dotcom bubble
The dotcom bladder is a bladder that goes back much less than the tulip bladder. Although it is a much more recent phenomenon, the mechanism was the same: many were greedy, invested (too) much money and lost it.

This time we are talking about the numerous start-ups that the New Economy brought with it. While the Internet began its triumphal march in the 1990s, the new companies sprouted from the ground up. And they all promised a golden future, as it were, without having enough technical back-up to ever fulfill these promises.

Gold rush atmosphere
And yet: people invested – generously. There was a sense of optimism everywhere with regard to the new technology. Most start-ups went directly to the stock exchange, most investors bought the shares – sometimes just as blindly and blindly as so many Dutch investors centuries before. The investment object stock became socially acceptable – whether Lieschen Müller or Franz von nebenan – everyone could suddenly buy shares. This led to the stock market valuation of many companies multiplying from mid-1999 – the bubble swelled.

Much excitement about nothing – little return despite gold rush mood
Shut up and take my money!
The dotcom bubble was filled with the hopes and greed of many investors and the expansion drive of many companies. Those who were worth more as a result of the IPOs continued to invest the funds they had gained, while new investors were attracted by double-digit price increases. In the course of this, many day traders established themselves, who were (at least in part) well aware of the bubble component, but at least were able to profit from the daily price increases. The mood was clearly bullish: everyone ran headlong in the direction of investment – „Shut up and take my money“ was the motto in many places.

In the year 2000 the bubble was then filled to burst – nothing more worked. The market value of many companies was not covered by material countervalues – the capital was not tangible in the classic sense of material goods. Many of the companies filed for bankruptcy, and reports of fictitious sales arose. While the air was already escaping from the bubble, many investors were still clutching at the hopes