Goldman Sachs thinks bitcoin still has more room to run.

The red-hot cryptocurrency, which has gained more than 600% this year and is currently trading near $7,200 a coin, could threaten the $8,000 mark, according to a note sent out to clients on Monday from Goldman Sachs technical head Sheba Jafari.

"It exceeded an equality target from the July low at 6,044," Jafari wrote. "This break indicated potential for an impulsive advance, one that could reach at least 7,941. This is the minimum target for a 3rd of 5-waves up and should therefore be a level from which to watch for signs of a consolidation."



The cryptocurrency put in an all-time high of $7,592 a coin early Monday as traders continue to pile in following the announcement that CME Group, one of the world's largest exchange groups, was launching bitcoin futures trading by the end of the year. Bitcoin has gained more than $1,000 since the November 1 announcement.

The gains also come as traders await the implementation of a looming fork in bitcoin's network.

Disagreements in the cryptocurrency community over an upgrade known as SegWit2x could split bitcoin into two more cryptocurrencies. Bitcoin has already forked into bitcoin cash and bitcoin gold.

Another fork would double the amount of coins for people who hold them on an exchange or in a wallet backing the fork.  Trevor Koverko, the CEO of Polymath, a cryptocurrency technology company, told Business Insider that folks could be buying in before the fork to get that free cash.

"Speculation on this free money is driving up the price," he said. "Smart traders are riding the wave and will pull out before the fork."

http://www.businessinsider.com/goldman-sachs-bitcoin-could-get-close-to-8000-2017-11

Jameson Lopp, the lead developer at BitGo, a Blockchain security company, has calculated that Bitcoin would rank 32nd globally for its value in circulation. He created a clone money supply aggregator M1 Index, similar to This puts it ahead of Singapore and South Africa, and just behind Finland and the UAE.

By creating a clone of the global M1 index, a metric for the money supply of a country which includes physical money — both paper and coin — as well as checking accounts, are valued, Lopp calculated that Bitcoin would finish pretty high up.

Valuing the narrow money

In the index, narrow money is used as a metric to determine the value of a currency. The narrow money of a country essentially is every piece of existing currency, taking into account all paper money, as well as coins, and even digital money stored in bank accounts. Liquid assets held by the central bank are also considered.

Using this metric, and the value of Bitcoin in circulation, Lopp comes up with a figure of $122,406,125,890 for Bitcoin - its market cap at the time of calculating. However, with its fluctuations, Bitcoin has reached as high as $125 bln in the last three days alone, which would put it in 31st - above Finland.

Bursting growth

Bitcoin continues to skyrocket with it’s high recently hitting $7,500. This has seen its overall market cap also skyrocket, as well as dominate the cryptocurrency market with over 60 percent domination.

Bitcoin price and its market cap are key determining factors in its overall value, but it is metrics like Lopp’s that start to put into power just how influential and powerful the digital currency is.'
Further adoption

Because Bitcoin crosses the boundary between currency and asset, it is difficult to pigeonhole it. However, it's two categories are helping across different lines.

Recently, a decision by CME Group, the world’s largest exchange owner, to introduce Bitcoin futures by the end of the year, helped Bitcoin’s value soar as more traditional investors spotted an opportunity.

However, its liquid nature allows it also to be considered a currency and thus is comparable to other countries and their money.

Magical trillion mark

There are predictions that the cryptocurrency market could cross $1 tln in 2018, and because of the dominance of Bitcoin, a lot of that push will be from the original cryptocurrency.

Additionally, many believe that Bitcoin rapid market cap growth is impressive, going from under $20 bln on Jan. 1 all the way to $201 bln on Nov. 5, but only once $1 tln is reached will it be a major player.

A $1 tln market cap for Bitcoin would rank it comfortably in 8th, ahead of Spain, and just under Italy, the lowest ranked country with $1 tln in narrow money.

https://cointelegraph.com/news/bitcoin-ranked-32nd-global-currency-by-physical-money-supply

Насколько я смотрел интервью с разработчиками на английском, интерьер квартиры Евгения был оцифрован в 3D для демо. Думаю он помогает с промоушеном ICO компании. Более подробно о его роли, можно спросить в телеграме у самих разработчиков  по ссылке в шапке темы.

#TRANSLATION
Bitcointalk username: ivanpoldark
ETH address: 0x2D7A8cDD34106A6A8c05EFA0C6f64DF6f9978248
Content: Website
Language: Russian
Links to previous translations:

https://bitcointalk.org/index.php?topic=2348480.0 - Mark. Space Ann thread

https://drive.google.com/open?id=0Bz0I1KrxDUeyUWhVOEhtS0J5NTA - PayPie rus whitepaper

China Monitors Booming OTC Bitcoin Market After Shutting Down Exchanges

After shutting down the country’s bitcoin exchanges, the Chinese government is monitoring the booming cryptocurrency over-the-counter (OTC) market. A recent government report shows that 680 million yuan, approximately $103 million, were traded in the last two weeks of October on the top three international OTC trading platforms.

Chinese Government’s Analysis of Bitcoin OTC Trading

Ever since the Chinese government demanded in September that bitcoin exchanges in the country shut down, China’s on-exchange bitcoin trading volume has all but disappeared. Concurrently, yuan trading volumes on OTC platforms have significantly increased.

The National Committee of Experts on Internet Financial Security Technology published a report last week on the status of the Chinese OTC bitcoin market. The committee was formally established in August of last year under the guidance of the Ministry of Industry and Information Technology. The committee “monitored recent bitcoin off-balance-sheet transactions through the National Internet Financial Risk Analysis Technology Platform” settled in CNY to produce the report.

There are two types of cryptocurrency trading – intraday and OTC, the report began. “OTC usually has no fixed place, prescribed membership, and strict rules and regulations; mainly the one-on-one transactions are conducted by the counterparties through private negotiations.”

In addition to P2P trading such as on Localbitcoins, Chinese citizens also conducted transactions in-person or using live chat tools such as QQ, Wechat, Telegram, and Slack. “A wide range of payment methods, including bank transfer, cash remittance, third-party payment, [and] gift cards” were used, the report stated, adding that:

"Alipay, Wechat and bank transfer are the main payment methods for OTC BTC-CNY transactions."

Read more: https://news.bitcoin.com/china-monitors-booming-otc-bitcoin-market-shutting-exchanges/

It`s great to see team posting meeting photo here, and what are people expectations from future November 8th meeting? We will see some demo, or alpha version of OAX trading platform? Maybe it`s time to buy more tokens.

It`s pity, but maybe it will be problem for you to sell your tokens even at such low price. SHDW Volume on Waves and other exchanges 2$ per day. No one need this token.

Guys, it`s just rediculous, we do not care about you intracorporate share of posts. Investors just want to see some movement, progress in development. You raised 3 000 000 USD, if i remember correctly, for developers and one manager it`s more than enough,  you can move to country like Slovakia or Bulgaria, where life cheap, stay there within a year and working. People who want to create something are seeking the ways, not blame each other.

Кто-нибудь читает англоязычную ветку? Там всплыл какой-то работник SkinCoin, и начал ругать контору, мол-такая сякая. И они таки признали что он их работник, я вот прочитаю завтра, раскажу Вам, в чем суть спора.

I have become more and more convinced that ICO market needed some regulation, order, changes. Team collect big amount of money and don`t want to follow simple milestones. Show me some other area in software development, where you can do what you want, without any strictly stated day of reporting. If ICO like Monaco for example would have received payment from their fund for some finished part of work, without a doubt, their card would have been in circulation.

Наши люди вообще многие интересные проекты пропускают, например GatCoin, ну не в домек им зачем нужны подарочные купоны, а это между прочим целая индустрия на западе, многомилионная. Или PayPie бухгалтерия на блокчейн. Собственно Pillar очень хорошо развивается, команда набрана, постоянно добавляются новости в телеграм, недавно проходила конференция в Амстердаме. Есть моменты, которые напрягают всю команду, как например соответсвие финансовым (помоему) нормам евросоюза. Но в целом, это одна из лучших инвестиций года, я смотрел ютуб интервью на  инглише, ребята реально рубят фишку в криптографии, на вопросы отвечают четко по теме.

А что ожидается 15 числа, вроде же хардфорк намечен на 18 число? Или по Patientory вышли какие-то новости?

Вообще боюсь что эта Крисса подставная африканка. Такая же штука может быть как с Хумаником. Выложили фотку негров в Синих фирменных футболках - отчитались за полугодие работы.

Да, там первый кошель биржи типа Битрекс, но второй интересный ноунейм холдеры со счетом в 28 млн птоев и остутствием других транзакций, выглядит как холодное хранение. Не дай бог если его начнут резко продавать, цену укатают еще.

Chinese Analyst: ”Bitcoin Nuclear Bomb In New Currency War Between China and USA”

Xiao Lei, a Chinese financial analyst, has published an article that seeks to argue that the spheres of bitcoin and cryptocurrency are increasingly becoming a battleground in “a new currency” war between China and the United States. Despite some bitcoin users describing Lei’s views as conspiratorial, the article has garnered significant attention after becoming recommended by Baidu Baijia – an online media channel owned by major Chinese company Baidu.

Mr. Lei is Concerned About the Future for Chinese Bitcoin Traders

In an article recommended by Baidu Baijia, Xiao Lei states “as an ordinary investor, I am concerned about whether bitcoin investment can make money. But if I stand in the perspective of a country, I am concerned whether this thing can be used by me or not and whether there are some factors that are unfavorable to me in the future.”

Mr. Lei argues that the contemporary era comprises an epoch in which “the strategic significance of [traditional commodities such as] oil and grain… may not be so important [now, as] the game between countries has entered [the] virtual” domain. Xiao Lei posits that control over seigniorage (profit made by a government by issuing currency, especially the difference between the face value of coins and their production costs) has become the principal means through which economic power is assured in the contemporary context.

Mr. Lei Argues That “The Battle of Seigniorage” Has Manifested At “The Level of Virtual Currency”

The analyst states that bitcoin “is not welcome by the legal currency market, unless there is sufficient means and ability to control… If any country can manage bitcoin freely, bitcoin will become the nuclear weapon of a new currency war. This has been discovered by Japan and the United States.”

Mr. Lei states that “the bitcoin core development team” has sought to “curb China’s growing influence in the bitcoin market”, arguing that such has resulted in a power struggle between western-based bitcoin developers and Chinese-based miners for influence over the network.

Xiao Lei asserts that “since 2013, Bitcoin has seen tremendous growth in China with 95% of the trading volume and more than 50% of the computing power.” Mr. Lei argues that the growing Chinese presence in the bitcoin ecosystem has correlated with a reduction in the influence bitcoin’s core developers — of which he emphasizes “there are very few Chinese.” Mr. Lei even goes as far as stating that “cultural and strategic intentions determine that there is a natural and irreconcilable contradiction between the core developer and the Chinese government.” Mr. Lei alleges that “in order to counterbalance the rise of the Chinese market…Bitcoin is… constantly using technological improvements to weaken China’s influence.”

“If the Current Trending Continues, One Day You Will Find That Holders of Bitcoin and Those Who Do Not Own Bitcoin May Be Two Totally Different Classes”

Mr. Lei states that “on the night… [that] the two major exchanges in China… stopped trading, the Chicago Mercantile Exchange [(CME)], the world’s largest futures exchange, announced” its intention to launch bitcoin futures during Q4.

Mr. Lei points out the majority of Chinese bitcoin trading now occurs on over the counter (OTC) markets. Mr. Lei asserts that “if CME successfully launches bitcoin futures in the fourth quarter, …over-the-counter transactions in China or exchanges in Japan and South Korea may not have much pricing power… Once CME’s bitcoin futures market goes public, it will become the world bitcoin [market] maker.”

It should be noted that members of the cryptocurrency community have dismissed Mr. Lei’s assessments as conspiratorial and lacking in evidence – with many pointing to Mr. Lei’s frequent insinuation pertaining to the Central Intelligence Agency (CIA), including implying that the CIA may in some way have colluded with bitcoin’s creator, Satoshi Nakamoto, as unsubstantiated claims that serve to undermine Mr. Lei’s credibility.

What do you make of Mr. Lei’s arguments? Share your thoughts in the comments section below!

https://news.bitcoin.com/chinese-analyst-describes-bitcoin-potential-nuclear-bomb-new-currency-war-china-usa/

Ok, you have internal currency and currency for exchanges. So, exchange token is not utility token for your platform as i understand it. What is a purpose of it, maybe it grants the right for some shares, gains of future zonto platform?

A bill has been submitted to the Ukrainian parliament to amend the country’s tax code to exempt cryptocurrency income and profits from taxation, including from buying, selling, transacting, and mining.

Bill Seeks Crypto Tax Exemptions

The head of the Committee on Tax and Customs Policy of the parliament of Ukraine, Nina Yuzhanina, submitted a bill to the parliament to amend the country’s tax codes with regards to cryptocurrencies and their derivatives. This bill is referred to as Bill No. 7246 and was submitted on October 30.

The bill seeks to amend the tax code of Ukraine to exempt the profits from the purchase and sale of cryptocurrencies and their derivatives as well as revenues from cryptocurrency operations and from mining. According to the note accompanying the bill submitted to the parliament:


This new bill is the third submitted to the parliament for the legal framework of cryptocurrencies. The first was submitted in the first week of October. It proposes considering cryptocurrency a property that can be exchanged for other goods and services.

The second bill was submitted one week after the first bill. Entitled “On the stimulation of the market of cryptocurrencies and their derivatives in Ukraine,” the bill proposes treating cryptocurrencies as financial assets. This third bill is meant to be a follow up to the second bill and provides provisions for crypto derivatives as well as cryptocurrencies themselves.

Read more: https://news.bitcoin.com/ukraine-drafts-law-exempt-cryptocurrency-income-profits-taxation/

Moreover, risk score analysis is a vary expensive and time consuming process. Propy risk score algorithm will process your loan request within a minutes, and will give you very precise result. It`s great opportunity for all kind of businesses, and set banks aside again from their comfort zone.


Please explain your position with facts, and evidences.

Та же ситуация, это просто подстава, у меня было немножко, я слил с потерями. Убеждаюсь, не стоит обвинять рыночных спекулянтов в понижении цены на токен, цена прекрасно растет естественным образом, когда команда выдает какой-то реальный результат, общается с сообществом. (чего здесь пока не видно). Ну что реально такого в этом пропи, что нужны десятки миллионов на его разработку, прелесть ICO что большинство денег можно просто разбазарить безо всякого отчета сообществу. Easy money.

I quit propy with losses, because of the team market behavior. They do not want to burn unsold tokens, and their feedback with community is one-sided. They already should show something to us, but instead they just talking at conferences, burning investors money on air travel. The need in such financing as they claimed at start is unreasonable. It seems they just relax and drink beverages. People, you really think ukrainian government have interest in blockchain project? Open your eyes, they have interest only in trading coal with occupied pro-russian donbas teritory.

A New Jersey pastor has been sentenced to five years in prison after being found guilty of attempting to aid an illegal bitcoin exchange evade scrutiny from banks and regulators.

Trevon Gross, 47, was sentenced on Monday by U.S. District Judge Alison Nathan in Manhattan, reports Reuters. He was also ordered to pay a $12,000 fine.

The bitcoin exchange involved in the case was Coin.mx. Back in March 2016 it was reported that Gross, the former chairman of a now-defunct Jackson, N.J. federal credit union, was charged with accepting $150,000 in bribes from the bitcoin exchange to turn the credit union’s functions over to the operators of Coin.mx.

According to court records, Gross is alleged to have conspired with Anthony Murgio, who operated Coin.mx and Yuri Lebedev, the exchange’s computer operations manager, to fund the exchange’s operations. In November 2015, Murgio had initially pleaded not guilty to money laundering in a Manhattan court room.

From October 2013 to July 2015, the illegal bitcoin exchange exchanged millions of dollars for bitcoins from U.S. customers. Reports suggest that Murgio and others miscoded debit and credit card transactions and then limiting the amount of dollars of individual transactions to trick banks into completing the transactions.

Lebedev and Murgio also operated a front business to launder the exchange’s proceeds, called the Collectables Club.

However, in order to evade scrutiny, Lebedev and Murgio took control of the credit union by supplying Gross with handsome bribes.

Aside from this, Coin.mx has also been linked to a security breach at JPMorgan, which took place in 2014 that exposed the accounts of 100 million people. The result of which led to charges against nine people. Murgio, Lebedev and Gross were not accused of hacking, but Gary Shalon, who owned Coin.mx, is alleged to have been behind it.

According to Reuters, Shalon, along with Joshua Samuel Aaron, undertook cyberattacks that resulted in the theft of information from 100 million people. Prosecutors says that the two carried out the hacks to bolster additional schemes with Ziv Orenstein. These included pumping up stock prices with promotional emails.

Shalon, Aaron and Orenstein have pleaded not guilty to the criminal charges.

Accused of working through a front called Collectables Club, Lebedev was sentenced to 16 months at the end of October. In January, Murgio pleaded guilty and was sentenced to five and a half years in June. Gross’s sentencing to five years in prison is the latest from the Coin.mx scandal.

https://www.cryptocoinsnews.com/pastor-sentenced-five-years-aiding-illegal-bitcoin-exchange/