Mining efficiency will launch bitcoin to $36,000, analyst says

Altcoins begin Friday showing double-digit losses


Bitcoin on Friday broke below a short-term support line at $9,000, extending selloff in the previous session that took all major currencies into the red for the week.

A single bitcoin BTCUSD-5.31% last traded at $8,721.17, down 4.1% since Thursday’s levels at 5 p.m. Eastern time on the Kraken exchange.

The price of the No. 1 digital currency had spent the best part of the week consolidating after nearing the $10,000 mark late last week. However, that phase now appears to be breaking, giving some analysts cause for concern.

“It’s worth noting that while this could be a significant breakout to the downside, we have pierced the $9,000 level a few times throughout this time but each time price has rebounded back above,” wrote Craig Erlam, senior market analyst at Oanda in a research note.

“A significant close below here today could signal another period of downside for bitcoin, which has seen a number of false dawns since the collapse in its price around the turn of the year.”

Mining economics have bitcoin on track for record high
In a Thursday research note, Fundstrat Global Advisors, one of the markets biggest crypto bulls, said the bitcoin mining price dynamics have the No. 1 digital currency on track to reach $36,000 by the end of 2019.

Mining efficiency is an important facet of the cryptocurrency market, and Fundstrat said that higher hash power—the processing speed required by computers to generate a bitcoin—will propel bitcoin to a new all-time high.

source: https://www.marketwatch.com/amp/story/guid/ABB63C56-550D-11E8-AF0C-DE1A18924019?espv=1

Swiss Regulations Are Driving ICOs Away

Ever since ICO mania exploded in early 2017, Switzerland has served as Europe’s de facto crowdsale launchpad. Financial authorities have welcomed crypto startups, and the likes of Tezos, Mysterium, and Arcblock have all heeded that call. Guidelines laid out by Switzerland’s Financial Market Supervisory Authority (FINMA) in February were meant to add clarity for ICOs. Instead, they’ve had the opposite effect.

Anti-money laundering regulation gives rise to a range of due diligence requirements including the requirement to establish the identity of the beneficial owner and the obligation either to affiliate to a self-regulatory organisation (SRO) or to be subject directly to FINMA supervision. These requirements can be fulfilled by having the funds accepted via a financial intermediary who is already subject to the AMLA in Switzerland and who exercises on behalf of the organiser the corresponding due diligence requirements.
In plain English, this means that ICOs must use a Swiss company to perform KYC on all ICO participants, which is where the problems have started. With only a handful of companies in a position to perform such checks, these entities effectively hold a monopoly. The average cost for a KYC check ranges from between $0.6 to $2 within the ICO space – but Switzerland is an exception. Accredited bodies are charging up to $25 per check, leaving projects that have already made the decision to host their crowdsale in Switzerland in an awkward position.

source: https://news.bitcoin.com/swiss-regulations-are-driving-icos-away/

Two Australian State Politicians Reveal Bitcoin Holdings

Two sitting ministers from the legislature of the Australian state of Queensland have revealed that they privately own bitcoin. The declarations have been made for the state’s register of members’ interests – which lists information including the properties, trusts, and union memberships of Queensland’s politicians.

Queensland Registry Reveals Aussie Politicians Own Bitcoin
Two Australian State Politicians Reveal Bitcoin HoldingsThe updating of the register of Queensland’s politicians’ interests has revealed that two of the state’s representatives currently own bitcoin. The register discloses the formal political affiliations of the state’s politicians, in addition to revealing major assets and investments owned by Queensland’s representatives.

Nick Dametto, a recently elected MP for Katter’s Australian Party – a right-leaning minority party that seeks to serve Queensland’s vast rural population – has discussed his bitcoin holdings with Fairfax Media.

Mr. Dametto first purchased bitcoin in October 2017, which quickly grew in value. “I then used my bitcoin to buy a couple of different other coins that are worth a lot less, and then they went up a little bit, and at one point my $5,000 investment went up to $60,000, then it crashed after Christmas,” Mr. Dametto said.

source: https://news.bitcoin.com/two-australian-state-politicians-reveal-bitcoin-holdings/

Bots Blamed for Binance Bug That Leaves Traders Reeling

Binance has found itself at the center of an unusual trading bug that has created big winners and losers. In a matter of minutes, viacoin pumped by 70x. Just to compound the drama, bitcoin experienced a massive sell-off shortly afterwards following bearish news from the SEC. Binance suspended withdrawals while it investigated the matter, but these have since been reactivated. Wednesday March 7 will go down as a memorable day in the exchange’s short history, but one with a happy ending.

Viacoin Goes on a Moon Mission
Pump and dump schemes are not unusual on cryptocurrency exchanges, but this wasn’t a usual pump. This was a mega pump which sent viacoin from $3 to $200 in record time. Binance wasn’t hacked. Rather, a compromised API is the culprit behind what was an extremely clever attack. First, the bot sold all the altcoins in accessible accounts at market prices, causing a sea of red. Then, it took the BTC profits and put them into viacoin. It may have occurred illegally, but if ever there were a case of a moon mission, this was it, as one Twitter user memorably depicted, the green candle standing proud in the center:

source: https://news.bitcoin.com/bots-blamed-for-binance-bug-that-leaves-traders-counting-reeling/

Sixth Grader Writes a 57-Page Book About Bitcoin

An 11-year old named Andrew Courey from Massachusetts just published a book on bitcoin so the younger generation can grasp this emerging technology that’s been sweeping the globe. The sixth-grader considers himself an expert on bitcoin, and his 57-page book describes cryptocurrencies in a way his peers can understand.

A 57-Page Book About Mastering Bitcoin Written By a Sixth Grader
Sixth Grader Writes a 57-Page Book About Bitcoin Andrew Courey is a middle school student from Massachusetts, and he hopes to earn $20Mn by the age of fourteen. Courey made an agreement with his parents who said if he earned $20Mn by then, he could drop out of school much like the bitcoin millionaire Erik Finman’s deal with his parents. So after countless hours of research and Youtube videos covering the subject of bitcoin Courey decided to write a book on the topic. The book called “Early Bird Gets The Bitcoin: The Ultimate Guide To Everything About Bitcoin,” is available on Amazon in both e-book form or as a paper copy.

source: https://news.bitcoin.com/sixth-grader-writes-a-57-page-book-about-bitcoin/

Amelie Arras Prepares to Defend Bitcoin’s Title at Money 20/20 Asia Race


It has been announced that the Marketing Director of Adastra Marketing, Amelie Arras, will look to defend bitcoin’s crown in the upcoming Money20/20 Asia Payments Race. Mrs. Arras is hoping to repeat her performance from last year, where she defeated four other participants to claim victory for bitcoin in the Money20/20 USA Payments Race.

Bitcoin to Defend Title at Upcoming Payment Race
Amelie Arras Prepares to Defend Bitcoin's Title at Money 20/20 Asia RaceAmelie Arras will look to defend bitcoin’s crown in the upcoming Money20/20 Asia Payments Race, in which Mrs. Arras will attempt to cross Asia solely using BTC. The five-day race is scheduled to commence in Hong Kong on the 10th of March, during which Mrs. Arras will exclusively transact in bitcoin, before arriving at the Money 20/20 Asia Conference in Singapore.

“My experience from the previous Payments Race showed me first hand that acceptance at a merchant level is not what I can rely on to win. Instead, I will be using bitcoin for what it was originally designed for, a peer to peer currency. Using the power and enthusiasm of the crypto community, I am determined to win the race again,” Mrs. Arras stated.

The Race Will Be Held in Partnership by Money 20/20 and Fintech Finance
Amelie Arras Prepares to Defend Bitcoin's Title at Money 20/20 Asia RaceThe race will see Mrs. Arras go head to head with competitors representing gold, cash, cards, and mobile payments respectively. Participants will be tasked with various challenges along the way, through which they will be able to earn points. Whoever holds the most points when crossing the finish line wins, provided that the participant finishes the race on time. Competitors are not allowed to purchase direct flights and will be required to use a variety of different modes of transportation.

Pat Patel, the Content Director of Money20/20 Europe & Asia, has stated that “The Money20/20 Asia Payments Race is definitely the most challenging one yet, it will really test the racers to the limit. We’ll get to really understand the real-life benefits and issues of each payment method across multiple markets in Asia. Oh, and it will be insanely entertaining in the process, stay tuned for insight and fun in equal measures.”

source: https://news.bitcoin.com/amelie-arras-prepares-defend-bitcoins-title-money-20-20-asia-race/

U.S. Lawmaker Wants Ethics Committee to Form Bitcoin Disclosure Guidelines

This week Colorado House Representative Jared Polis sent a letter to the U.S. House Committee on Ethics asking the organization to propose statutes that require government employees to declare their bitcoin and digital currency holdings.

House Representative Jared Polis: ‘Government Employees Should Report Any Virtual Currency Holdings’
U.S. Lawmaker Wants Ethics Committee to Form Bitcoin Disclosure GuidelinesU.S. bureaucrats are ramping up efforts to try and regulate the decentralized currency bitcoin and the slew of other cryptocurrencies that exist. On February 5, the House Representative Jared Polis who is known as “bitcoin-friendly,” submitted a request that urges the House Committee on Ethics (HCE) to provide guidance on how politicians can disclose their digital asset holdings. Polis states that in a lot of U.S. territories digital assets are defined as securities or commodities, and U.S. politicians are already required to declare traditional assets. Polis says it is “critical” that the HCE provide this type of guidance to government employees.

“Members of Congress and covered employees are already required to report certain asset holdings over certain amounts, including reporting any commodities holding over $1,000,” Polis argues in his petition to the HCE.

source: https://news.bitcoin.com/u-s-lawmaker-wants-ethics-committee-to-form-bitcoin-disclosure-guidelines/

NY Regulator Demands Vigilance Against Market Manipulation from Bitlicense Firms


Accusations, rumors and fears of manipulation in the cryptocurrency market have been around for a long while now. The most recent one involves Tether supposedly artificially propping up the price of bitcoin by printing USDT. Now one regulator demands that companies in its jurisdiction will take action against such possible risks.

Vigilant Against Market Manipulation
NY Regulator Demands Vigilance Against Market Manipulation from Bitlicense FirmsThe New York State Department of Financial Services (DFS) has issued a guidance paper on Wednesday, reminding all cryptocurrency companies licensed by it that they are required to implement measures designed to effectively detect, prevent, and respond to fraud, attempted fraud, and similar wrongdoing. In addition, it reminded Bitlicense holders that they must be especially vigilant against efforts at market manipulation. The regulator has granted six Bitlicenses so far, including to Bitflyer USA, Coinbase Inc., XRP II and Circle Internet Financial, and charters to Gemini Trust Company and itBit Trust Company.

“DFS took the lead in 2015 in regulating the virtual currency market, and we continue to be vigilant concerning risks in these markets. Market manipulation presents serious risks, both to consumers and to the safety and soundness of financial services institutions,” said Superintendent Maria T. Vullo. “As the cryptocurrency markets continue to evolve, DFS is directing virtual currency companies to take the necessary steps to guard against fraud, and to be extra vigilant about manipulation. By these actions, the market can evolve with strong regulatory supervision.”

source: https://news.bitcoin.com/ny-regulator-demands-vigilance-against-market-manipulation-from-bitlicense-firms/

Commission Income From Crypto Accounts Jumped 36 Times for South Korean Banks

South Korean banks have been providing virtual account services to cryptocurrency exchanges and earning commissions from them. According to data obtained by the country’s Financial Supervisory Service, banks made 36 times more in commission income from crypto exchanges last year than the previous year.

Banks Earned 36x More From Crypto Accounts
Commission Income From Crypto Accounts Jumped 36 Times for South Korean BanksThe Korean Financial Supervisory Service (FSS) has obtained data from banks relating to their virtual account services to crypto exchanges. It includes data from the six banks inspected by the regulators last week: Woori Bank, KB Kookmin Bank, Shinhan Bank, Nonghyup Bank, Korea Development Bank, and Industrial Bank of Korea.

The agency revealed on Thursday that the total commission income banks earned from these services last year was 2.221 billion won (~USD$2.1 million), which is 36 times more than the 61 million won earned the previous year, Yonhap reported.

source: https://news.bitcoin.com/commission-income-crypto-accounts-south-korean-banks/

Canadian Entrepreneur Seeks to Recycle Heat Generated by Cryptocurrency Mining

A Canadian entrepreneur has sought to recycle the heat generated through bitcoin mining by growing plants and fish suited to the temperatures produced by cryptocurrency mining rigs by utilizing an aquaponic system.

Canadian Entrepreneur Recycles Heat From Cryptocurrency Mining to Grow Food
Canadian Entrepreneur Seeks to Recycle Heat Generated by Cryptocurrency MiningBruce Hardy, a Manitoba-based entrepreneur, has sought to repurpose the heat produced by his bitcoin mining rig to produce edible plants and fish that are suited to the temperatures generated by cryptocurrency mining equipment. Mr. Hardy owns and operates 30 mining rigs, which are housed in a 20,000-square-foot building situated in the Rural Municipality of St. Francois Xavier, Manitoba. The heat produced by the miners is then circulated throughout the building, and used to grow edible plants and fish.

Approximately 800 Arctic Char are raised in a large fish tank located on the first floor of the building. The water that the fish are raised becomes highly rich in nitrates – and thus comprises an excellent plant fertilizer. With the press of a button, Mr. Hardy is able to remotely pump the nitrate-rich water to feed the lettuce, basil, and sprouted barley fodder which is grown aquaponically on the floor above the fish. “It’s all connected, much like Earth,” Mr. Hardy told local news. Mr. Hardy is also the president of Myera Group – a company that seeks to develop innovative and sustainable systems for food production.

Mr. Hardy states that he has mined bitcoin for approximately two years. After initially investing in large-scale air conditioning to cool his mining rig, Mr. Hardy states that he realized the heat produced by mining could be diverted to be used for agricultural production. “When bitcoin came, they were an excellent proxy for what a server could do in terms of emulating heat, and whether we could use that heat for agricultural purposes,” said Mr. Hardy.

The Reeve of the Rural Municipality of St. Francois Xavier, Dwayne Clark, has spoken in support of Mr. Hardy’s project, stating “From what we’ve seen so far, it looks like a popular move for the community. It’s already cleaned up what used to be an eyesore for a number of years.” Mr. Hardy also attested to the benefits reaped by the local community through his operations stating that “The revenue from those bitcoins has helped me to keep staff on, it’s helped me create these displays so we can show people what we’re doing in agriculture innovation.”

source: https://news.bitcoin.com/canadian-business-seeks-recycle-heat-generated-cryptocurrency-mining/

Crypto Companies Cashing in on the Name of Bitcoin’s Founding Fathers

Bitcoin is a powerful brand. Even uttering its name – or that of its underlying technology, blockchain – can be enough to revive tired companies and send stock prices soaring. But Bitcoin isn’t the only name strategically deployed for marketing purposes: companies are also shamelessly cashing in on the name of the cryptocurrency’s founding fathers.

Hijacking the Bitcoin Brand
Pseudonymous, enigmatic, and unknowable, Satoshi Nakamoto was bound to leave a legacy. Responsible for one of the greatest inventions of the 21st century, Satoshi’s name has kept resonating long after he submitted his final Bitcointalk post and went AFK for time indefinite. His name has come to be used for everything from the smallest unit of bitcoin – a satoshi – to educational initiatives such as the Satoshi Nakamoto Institute, an organization set up to share cryptography ideas.

These instances, and many more which take the pseudonym of bitcoin’s creator, demonstrate the respect that the community has for Satoshi, whoever they were. There are other cases of “Satoshi dropping” though where it’s hard to shake the feeling that it’s more about brand hijacking than crediting Nakamoto’s genius. There’s Satoshi Brewery, for example, a Russian project that promised to create the world’s first brewery token. Its ICO page has since disappeared, and the brewery’s website is just a holding page, which doesn’t bode well for the project. Uttering the name of Satoshi is no protection against mediocrity.

source: https://news.bitcoin.com/crypto-companies-cashing-name-bitcoins-founding-fathers/

Bitcoin Adoption Continues to Thrive Within Africa’s Borders

According to multiple reports this week the decentralized currency bitcoin is still booming in many African countries. From South Africa to the Sub-Saharan region, citizens from all walks of life are finding bitcoin beneficial. This is making domestic cryptocurrency exchanges and peer-to-peer trading platforms’ volumes climb while digital currencies are also selling at a premium.

The digital currency bitcoin is trending in Africa according to many reports and Google’s aggregated trend data. One particular group bitcoin is appealing to is African millennials, the columnist Catherine Byaruhanga from Uganda reports. For instance, a young resident from Kampala, Peace Akware, hopes her investment in bitcoin will grow enough for her to purchase a vehicle, and possibly even buy land some day. Another individual from Kampala, Martin Serugga, is teaching young millennials about cryptocurrencies in his weekly class that over 50 people attend. Serugga teaches the class how to trade cryptocurrencies against fiat used in the region.

source: https://news.bitcoin.com/bitcoin-adoption-continues-to-thrive-within-africas-borders/

United States of Bitcoin: Illinois Gives Crypto Love While Other States Hate

The United States continues to divide over the issue of cryptocurrency generally and bitcoin in particular. Idaho and Alaska issued crypto investment warnings, while Iowa’s Insurance Division cautions against the digital asset’s “high risk,” and Utah announces “scam” scares. Illinois bucks the worrywarts, however, and is instead crafting legislation that would welcome crypto businesses and innovation.

Illinois Wants No Part of New York’s Bitlicense Overregulation
In a trend-bucking move, legislators in the midwest state of Illinois are trying to craft legislation that would help the state welcome what some in their ranks see as an innovation. “New York went in and over regulated [bitcoin] and what ended up happening was a lot of those companies left the state,” representative Jaime Andrade reminded.

Mr. Andrade was responding to a bureaucratic report declaring bitcoin to not be a currency. It just so happens Mr. Andrade is the Chair of the state’s House Committee on Cyber Security. He’s even, with colleague Mike Zalewski, set up a crypto subcommittee to help better educate the public.

Illinois is also home to the city of Chicago, Frank Sinatra’s kind of town. Birthplace of Jazz. The state was the first to use electric street lighting, and it generates more nuclear power than any other in the US. The state knows cool and useful.

source: https://news.bitcoin.com/united-states-of-bitcoin-illinois-gives-crypto-love-while-other-states-hate/

Blockchain Guild’s Community Fund Makes Its First Award for Bitcoin Development.

The Blockchain Guild, a community fund set up to further bitcoin development, has made its first award. The project is designed to mentor the next generation of developers, in whose hands the future of blockchain technology lies. A number of major backers have given Blockchain Guild their support including litecoin’s Charlie Lee, bitcoin developer Jimmy Song, and Tuur Demeester.

A Bounty on Future Bitcoin Development
As the Blockchain Guild explains, its purpose is to “Allow Patrons to be able to…support the open source ecosystem that allowed them to be successful.” It’s basically a means for bitcoiners who’ve “made it” to help those who are just starting out. These junior software engineers and blockchain developers may have the skills, but they lack the funding to dedicate time to improving code bases and developing infrastructure.

Blockchain Guild’s Community Fund Makes Its First Award for Bitcoin Development
Tuur Demeester
The first award the foundation has made is 0.5 BTC to Kalle Alm, a bitcoin core member who’s based in Tokyo. Alm will be using the award to work on btcdeb, a Bitcoin Script debugger. Christopher Allen, Jimmy Song, Tuur Demeester, Charlie Lee, and Zcash were the patrons for this particular award. Allen and Demeester are key members of the Guild along with a handful of other respected members of the bitcoin community.

Patreon for Bitcoin
The Blockchain Guild has been described as a Patreon-style platform that awards funds for enterprising coding projects. Project advisors oversee work that is performed in addition to voting on which bounties to award. A majority consensus of approximately 75% is required for a project to be given the go-ahead. Advisors who lead on a project aren’t devoting their time and experience for free: they’re eligible for 20% of the patron funds, with 10% going to platform costs and 70% to the recipient of the bounty.

The Guild is exploring the possibility of becoming a non-profit organization, and invites patrons to pledge their support for emerging talent who will carry the reins for future bitcoin development.

source: https://news.bitcoin.com/blockchain-guilds-community-fund-makes-first-award-bitcoin-development/

Bitcoin Mining ICO Giga Watt is Being Sued for Securities Fraud

Another month, another ICO lawsuit. This time it’s Giga Watt in the firing line, a startup whose aim is to launch a cryptocurrency mining facility. The company describes itself as “the world’s first full-service mining solution provider” and promises “turnkey mining services”. A group of investors are not impressed though, and have filed a lawsuit over project delays that they claim are costing them serious money.

Watt’s the Matter?
The plaintiffs claim to have contributed around $20 million in cryptocurrency to the Giga Watt ICO last summer. That cryptocurrency is now worth five times as much, but investors have nothing to show for it: no crypto, no Giga Watt tokens, and none of the mining equipment that was meant to be supplied.

In a court filing, the plaintiffs state their “fear that they might never be issued their tokens or see their mining machines activated, and are losing valuable time and money as defendants indefinitely delay the further development of the Giga Watt Project”.

source: https://news.bitcoin.com/bitcoin-mining-ico-giga-watt-sued-securities-fraud/

Convenience Stores and Pawn Shops See Foot Traffic from Bitcoin ATMs

Bitcoin is continuing its popular trend throughout society, and these days the decentralized currency can now be purchased at your local bodega, gas station, deli, and convenience store. According to recent reports, bitcoin teller machines (BTMs) worldwide are popping up in great numbers; most notably in the U.S. as the country now commands roughly 1,279 crypto-dispensing devices.

The Last Months of 2017 Sees an Increase in Bitcoin Teller Machines With the U.S. Commanding Over 1,200 Devices
During the end of 2017, the bitcoin teller machine environment has been growing fast as the market has seen a 7.6 percent increase in machines worldwide over the past few months. The biggest markets for BTMs reside in the U.S., Canada, the UK, and Austria. However, at the moment the U.S. has over 75 percent of the BTM market share globally with roughly 1,270 tellers according to Coinatmradar’s data statistics. On the global level, the most prominent BTM manufacturers include Genesiscoin, General Bytes, Lamassu, and Coinsource. Other BTM producers with smaller machine percentages are Bitaccess, Covault, Bitxatm, and a few unknown manufacturers.

source: https://news.bitcoin.com/convenience-stores-and-pawn-shops-see-foot-traffic-from-bitcoin-atms/

South Korean Exchanges Revise Policies to Comply with Crypto Regulation

South Korea’s cryptocurrency exchanges have implemented changes to comply with the government’s mandates announced last week. In addition to restricting certain customers from trading cryptocurrencies, the exchanges have stopped issuing new virtual accounts in accordance with the regulators’ real-name requirements.

Government’s Mandates
The South Korean government made several announcements in December regarding cryptocurrency regulation. The first was the “emergency” regulatory measures, as news.Bitcoin.com previously reported. Then a few additional rules followed.

South Korean Exchanges Revise Policies to Comply with Crypto RegulationThe Korean crypto market is dominated by four exchanges; Bithumb, Upbit, Coinone, and Korbit. While Bithumb has long held the number one spot as the country’s largest crypto exchange by volume, newcomer Upbit started reporting higher 24-hour volumes in December. Upbit is backed by Kakao Corporation which owns the country’s most popular chat app, Kakao Talk.

Following the regulators’ announcements, the four exchanges began modifying their terms of service. Among other measures, they are prohibited from offering services to minors and non-Korean residents as well as from issuing new virtual accounts. These accounts were issued by banks for the exchanges to assign to their customers for anonymous KRW deposits and trading.

source: https://news.bitcoin.com/south-korean-exchanges-policies-comply-crypto-regulation/

Cryptocoinopoly Is the Game That Lets You Play the Cryptocurrency Markets with Friends

Someone was bound to create a cryptocurrency version of Monopoly. Well now they have, enabling you to gather friends and family to trade fake fiat currency for fake crypto. Playing with ersatz money won’t make the competition any less intense as you clamor to snap up Mayfair – or Bitcoin Core as it’s now known.

Go to Hodl, Do Not Pass Go
The odds of an officially licensed version of crypto Monopoly being released seem as remote as ripple becoming a $10 coin. In other words, anything’s possible. For now though, hodlers can content themselves with printing their own version of the unofficial board recently shared by redditor ronoxe.

It features many of your favorite cryptocurrencies – plus a few you’re sure to loathe. “What the hell is cardano doing in the greens?” “Who put tron in there?” “Whose bright idea was it to add EOS?” All these points can be argued as you make your way around the board, skipping jail, rebranded as ‘hodl’, and trying to avoid paying capital gains tax. For crypto traders who aren’t getting enough of a buzz from the game, there’s nothing to stop you from playing with real crypto; the winner receives everyone’s cheapest alt bag.

source: https://news.bitcoin.com/cryptocoinopoly-game-lets-play-cryptocurrency-markets-friends/

Poloniex Now Requires Legacy Trading Accounts to Verify Identity


This week the popular cryptocurrency exchange based out of Delaware, Poloniex, has issued a notice to legacy account holders. According to the exchange, all traders who use the platform must verify their identity using the company’s upgraded verification portal.

Legacy Account Holders Must Verify Their Identities On Poloniex to Avoid ‘Potential Disruptions’
Poloniex Now Requires Legacy Trading Accounts to Verify IdentityA while back, the cryptocurrency exchange Poloniex started to implement an identity verification process for all its new registrants. At the time legacy account holders were ‘grandfathered’ with the privilege of not being required to submit identity credentials. Now Poloniex has issued a notice to all of its users that legacy accounts will now be required to verify their identities or the unverified accounts will be closed.     

“We will soon require legacy accounts to become verified through the latest version of our verification portal,” explains the U.S. exchange.

source: https://news.bitcoin.com/poloniex-now-requires-legacy-trading-accounts-to-verify-identity/

Seven Deadly Trading Mistakes Every Rookie Makes

So you’ve created a Coinbase account, bought your first fraction of a bitcoin and followed up with half a litecoin. You’re now ready to become a cryptocurrency trader. You fire the lot over to an exchange where the first coin you purchase shoots up by 10% before you sell, smug in the knowledge that you’ve made it. Thanks to an inspired strategy of “Buy low, sell high”, you’re going all the way: the blue tick Twitter account, the audience of newbs hanging on your every call and the obligatory meme car in the driveway. It was all shaping up so well, until you went and committed one of the following rookie

Trading’s Deadliest Sins
The following advice will be sneered at by more seasoned traders, but hand on heart, who can say they have never committed any of the following? The mark of a great trader lies in their ability to learn from their rookie mistakes. To become great, first you must become humble, and there’s nothing more humbling than buying a pumped cryptocurrency at the top, bragging about the sick gains you’re about to make and then getting rekt.

source: https://news.bitcoin.com/seven-deadly-trading-mistakes-every-rookie-makes/