Bitcoin price is going down because of what is called the market correction. Whenever the bitcoin price grow to a certain level the correction will come in to balance the market. This is very common in the cryptocurrency ecosystem, so this is not the first time and will never be the last.   

I don't see bitcoin price going back to $10,000 because bitcoin never lost the 50% of it value because of market correction. If i'm right highest dip for the market correction was 45% and i still don't the current correction will surpass that.

There were so many predictions been made in the past few months because everybody wants to be right in the future, but the guys that are making these predictions didn't understand the bitcoin technical problems such as high transaction fee and slow transaction problem. without these issues, bitcoin will surely reached any level based on their prediction, but man, bitcoin is now suffering because of these issues and the future of course.

I think 2018 is going to be a hard year to predict by the people for bitcoin. bitcoin is suppose to be successful in 2018 like the 2017 but there are some issues that are dragging bitcoin down for now, such as high transaction fee and very slow transaction speed. for bitcoin to be really successful not only in 2018 but for the future, those issues need to be fixed for people to have smooth transactions with bitcoin.

Well, it appears bitcoin is still suffering from the recent bitcoin market correction. $16.k as a resistance level for bitcoin is not issue, bitcoin to stabilize that is the issue because is currently selling below $13k today.     

Yes, i think now is the perfect opportunity for people to invest in bitcoin because the price is down due to recent correction before the price becomes more expensive again.

All that was in the past, we are currently on the level where bitcoin is selling above $14k and still recovering from the market correction. I think right now is also a great investment opportunity for the future because bitcoin was selling up to $20k previously. the price is down because of the correction so that makes it the perfect opportunity for people to invest now as the price will grow again.

Well, today bitcoin price continue recovering from the recent market correction. the good thing about today is bitcoin price started growing strong which we are hopping to see more progress in few days to come.

Blockchain and Smart Contracts For Everyone: Interview With CEO of Matrix



Today, we continue to share our findings from BlockShow Asia 2017 being held in Singapore and here is one more expert interview coming.

This time we talked to Owen Tao, CEO of Matrix, a Blockchain company that is aiming to take Blockchain and smart contract to non-technical people using AI.

You are welcome to read the interview and travel through the expert mindings by yourself:


Cointelegraph: What brought you to launch Matrix?

Owen Tao: I'm a big fan of Blockchain and I have been following this industry for years. But the smart contract can only serve you if you know how to program; otherwise, you can’t use the smart contract. That this is the reason why Matrix uses AI technology - if you only just need to write down what you want or what you need in natural language -  it is the machines who will do the coding - that is, to run the smart contract for you.

That's what we want. We want to create a smarter contract as much a Blockchain to serve anyone.

CT: How do you think: this technology and AI together will actually help us? Could it push the boundaries of what we think is possible?

OT: We hope that through Blockchain, the power of the smart contract could be accessible to every person and the inefficiencies at larger scale could be eliminated. These days, the most criticized part of mining is the waste of energy. In the future, more electricity will be wasted on mining the cryptocurrencies. So that’s the power going waste, which can actually be used for other opportunities such as sensitive computing and soft analysis. In a nutshell, we want the mining process generally to have universal values -  it is pretty much our dream for the future.

CT: Your background is more in business. Do you think that smart contracts will really change the way that business is done?

OT: In fact, it won’t change the rules one bit. The most important thing for Matrix is that we want to increase the number of people using Blockchain and smart contract. So one day we will have millions using these technologies all around the world and anyone could also use our product. That’s probably billions of users. So maybe we won’t change the business per se, but change the world of business.

CT: And in what industry, do you think, this technology will help the most? Which industry needs smart contracts and Blockchain more than anyone else?

OT: That’s actually a hard question. I’d say virtually any industry would require a service like this. For instance, in the future, maybe you’ll be able to put all the things on the network - you can make the machines do the work for you or you could even schedule the work for particular timings.

Say, you are working till late at the office but you don’t know when you will leave work. You could use the smart contract to leave the company before 7 p.m. This way your phone will call the restaurant and maybe book the seats for you and your girlfriend. If you leave work after 7, then maybe your phone will cover hotels: just put a room for you.

CT: That sounds very interesting! The future is gonna be different. One last question about the conference as a whole. Have you found out about something you didn't know before and that you might want to implement into your business ventures in the future?

OT: Actually, this is my first time attending such a conference since BlockShow is the most attended Blockchain conference in the world. So this one is quite different for me. I really enjoyed the whole conference because of such wonderful speakers and I think I’ve learned a lot by talking to people from different backgrounds. I met people from all over the world.

Our project, Matrix, needs to do something along the same lines -- connect everyone through Blockchain regardless our nationalities and language. We believe that cryptocurrencies will be the digital of the future. So I’m really glad I attended this conference.

CT: Thank you!


Source: https://cointelegraph.com/news/blockchain-and-smart-contracts-for-everyone-interview-with-ceo-of-matrix

2018 Blockchain and Cryptocurrency Outlook: Expert Blog




Scaling will continue being an issue for decentralized Blockchains for much of 2018

Blockchains do not scale by their very nature. If ten nodes or a thousand nodes are processing transactions for a Blockchain, only one of them can write a block at a time making Blockchain writing essentially a serial process. This is the nature of its original design for security purposes, for instance, to prevent the likelihood of double spending. The result of this is that throwing more resources at Blockchains do not increase the scale of transactions it can handle.

Increases in block sizes as is done in some Blockchains will allow more transactions to be accommodated but still run into some limit as small client devices would eventually be unable to keep up with the growth in the size of the Blockchains as transactions increase and blocks accumulate. Some side chain related projects, such as Lightning and Raiden may begin to mature next year but will ultimately not fully solve the problem. This is due to a lack of incentive in the schemes, for enough people to lock up expensive cryptocurrencies to open side chains. The ultimate solution to on-chain scaling would likely be through parallelization of Blockchains – something sharding would effectively do. Many of the top cryptocurrencies, such as Ethereum, are projecting that this solution is at least a couple of years in the future.

Some new Blockchains have introduced parallelization based on different topologies such as the fine-grained parallelization in directed acyclic graphs (IOTA, Byteball, Hashgraph) or true Blockchain splitting (Zilliqa). These projects will prove useful as they mature and gain in usage into the next year. However, we expect the parallelization of Blockchains based on block splitting to eventually prove to be more efficient because they have a chance of optimizing the ratio between the gains in task splitting to the need to reduce the surface of intra Blockchain communication between the splits. In any case, those projects will likely take some time to prove and demonstrate their security; a process which would also extend well into the next year.


Some Blockchain related projects will begin to mature and yield true value

2017 saw the proliferation of several Blockchain related projects and tokens. Many of them will prove to be useless. However, just like during the period of rapid growth in dotcom enterprises in the 90s, we will begin to see some true gems emerge from this period, that would create actual products, services that prove useful long term.

It may be expected that more of the projects related to International value transfer (a currently highly expensive and sometimes slow endeavor involving wire transfer), decentralized micro-loan offerings, monetary services to the unbanked, debit cards that allow fiat to cryptocurrency instant exchanges that completely allow spending cryptocurrency at any store that accepts fiat.

This last development is quite significant because it effectively answers the question of how many new businesses in the year have started accepting cryptocurrencies, to potentially all of them. Turns out that this already started in 2017, albeit slowly, as we saw TenX cards being issued and used in Europe, and just recently while this article was being prepared, Centra cards started shipping in the US and worldwide, allowing holders to spend several cryptocurrencies.


Liquidity and volatility of cryptocurrencies

Significant volatility and value swings will continue into the next year. Recently over the holidays we still saw a 30 percent swing in the values of the top cryptocurrencies within hours just as the Christmas holiday was about to start. With the commencement of ETFs and increased liquidity provided by these, more exchanges that are coming online, and more actual use cases that would mollify investment based buying and selling that results in major swings, the volatility will continue to decrease through the next year.


A major bubble burst or a major correction

There is likely to be at least one major correction in the market cap of Blockchains. The growth in value of Bitcoins, as well as several top cryptocurrency assets, could be modeled by an S curve or exponential, driven mostly by adoption. The model derived in the study utilized Metcalfe’s law as well as a new network effects law, and showed that the growth is correlated to the growth in the unique number addresses used daily on the network; data that is easily extracted from the Blockchain. An update to that study, including data up until this month shows that the value has indeed outstripped its adoption. However, the extent is not as great as during the 2014 bubble and as such the correction is unlikely to be as severe.

In addition, it also sometimes takes an event to trigger a burst or correction. In 2014 it was the failure of a major exchange. In 2017 we saw regulatory action from China prohibiting ICOs and exchanges triggering a correction in September. Another major exchange failure or regulatory action such as the classification of most ICOs as security is one such event that could serve as a trigger.

Recent releases from the SEC shows that it could be leaning in that direction. However, the body might also proceed more cautiously in a desire to protect innovation in the Blockchain sector, similar to how government early action (or inaction) refraining from taxing Internet sales or curbing development in that technology area might have helped provide space for some of the successes there earlier on. All eyes are on the April meeting of that body.







Network value model, (a) adoption as measured by number of unique addresses used in daily transactions, (b) value as measured by daily close BTC values. Metcalfe law relates the value to a square the number of active users on the network, while current function is a network model relating value to the exponential of the square root of the number of active users.

In general, 2018 is bound to be another really interesting year for the technology, with even greater awareness and adoption than 2017.


Source: https://cointelegraph.com/news/2018-blockchain-and-cryptocurrency-outlook-expert-blog

FT: EXMO Director Released From Kidnap After Paying $1 Mln Ransom



Pavel Lerner, the managing director of the cryptocurrency exchange EXMO kidnapped in Kiev Dec. 27, was released today after paying a $1 mln ransom in Bitcoin, The Financial Times (FT) reports.

Lerner was abducted in Kiev on Wednesday leaving his office. Ukrainian online publication Strana.ua was first to report that he was taken away by “unknown persons” in a black Mercedes Benz.

FT reports they were informed of the ransom payment by Anton Gerashchenko, an adviser to the Ukrainian interior minister. Gerashchenko told FT:

    “He was kidnapped by an armed gang for the purpose of extorting Bitcoins. We have operative information that he paid more than $1 mln worth of Bitcoins.”

In an article published today, Strana.ua reported that sources in the local police believe the kidnappers were frightened into releasing Lerner after the story of his abduction garnered so much attention globally.


EXMO reps release statement

Today EXMO released an official statement about Lerner’s abduction. The statement reports that the company “got a hold” of Lerner today and that he is currently safe:

    “At the moment, he is safe, and there was no physical harm inflicted on him. Nevertheless, Pavel is currently in a state of major stress; therefore, he will not provide any official comments in the coming days.”

The EXMO statement contains no mention of a ransom paid of any amount. In the statement, the exchange repeated that Lerner’s abduction in no way affected the company’s usual functioning:

    “We would also like to point out that Pavel’s activity at EXMO did not involve an access to financial assets of our users. Despite the aforementioned, the platform continues its usual operations.”

However, according to the company’s official Twitter, the exchange was under DDoS attack just yesterday, Dec. 28.

    EXMO is under the DDoS attack.

    The site will be available within half an hour.

    We apologize for the temporary inconvenience.

    Sincerely, The EXMO Team
    — EXMO (@Exmo_com) December 28, 2017

According to Strana.ua, Lerner is a Russian citizen who holds a residence permit in Poland and is involved in a number of crypto/ Blockchain startups in Ukraine. FT reports that EXMO is officially registered in the UK, but has “operations in Ukraine.”

As per EXMO’s official statement today, the investigation into Lerner’s abduction continues and the identities of the kidnappers are still unknown. Once identified, the perpetrators could face up to five years imprisonment, in accordance with article 146.2 of the Ukrainian criminal code, which covers abduction for “mercenary purposes” or by a group of people “upon their prior conspiracy.”


Source: https://cointelegraph.com/news/ft-exmo-director-released-from-kidnap-after-paying-1-mln-ransom

Exmo Bitcoin exchange manager kidnapped in Kiev




A manager of the Exmo Bitcoin exchange has been kidnapped in Ukraine.

According to Russian and Ukrainian media reports Pavel Lerner, 40, was kidnapped while leaving his office in Kiev's Obolon district on 26 December.

The reports said he was dragged into a black Mercedes-Benz by men wearing balaclavas.

Police in Kiev confirmed to the BBC that a man had been kidnapped on the day in question, but would not confirm his identity.

A spokeswoman said that the matter was currently under investigation, and that more information would be made public later on.

Mr Lerner is a prominent Russian blockchain expert and the news of his kidnapping has stunned many in the international cryptocurrency community.

Exmo described him as an analytics manager.

Blockchain is the technology that underpins the digital currency Bitcoin.

Exmo Finance is registered with Companies House in the UK, but has its main operations in Ukraine.

According to its website, it has 94,955 active users trading cryptocurrencies.

Separately, Exmo said in a tweet that it been the target of a cyber attack on Thursday.

Exmo spokesman Anatoliy Larin told the BBC: "We are doing everything possible to speed up the search for Pavel Lerner.

"Despite the situation the exchange is working as usual. We also want to stress that nature of Pavel's job at Exmo doesn't assume access either to storages or any personal data of users. All users' funds are absolutely safe."

Source: http://www.bbc.com/news/business-42505261

Yes, of course, social media contribute a lot in so many different ways in boosting bitcoin price to another level. I used to saw many people posting about bitcoin without knowing anything about bitcoin. they just was how bitcoin price was booming, so interesting, and that is why they like bitcoin.

Yes, I believe in the future we can have a simple cryptocurrency which we can use to buy almost anything. But i don't bitcoin is going to be that very currency because there are some issues with it right now that needed to be fixed, such as higher transaction fees and slow transaction speed.

This is simple, you have to calculate if you are making more money with bitcoin than your present job, quit the job. if your present job is more juicier than bitcoin then you may combine the two.

Yes, in time cryptocurrency will make paper money disappear the same way paper money did to gold coins last 100 years ago.

People like me and you are always afraid of bitcoin value dropping to zero overnight that is why they are selling whenever the price get to another level. Some people sell bitcoin for a living in form of a business while others work to earn it and dump immediately. people have different motivations that is it.

No. it is never too late to jump on. If you have some capital to invest is great because that way you can earn without wasting too much time. I suggest you take a look at the bitcoin and altcoins very well before making any decision. good luck.

Japanese Banking Giant Wants To Prevent Another Mt. Gox



Japan’s Mitsubishi UFJ Trust and Banking is preparing to launch a service that will protect cryptocurrency holders if the exchanges they use shut down or are hacked, reports Japan-based online publication Nikkei Asian Review.

The banking giant will keep matching records from cryptocurrency exchanges of customers who opt-in for the scheme. In the event the exchange fails or is compromised, Mitsubishi UFJ will compensate its clients for their losses according to the records they maintain.

Nikkei reports that the service will start with Bitcoin trading and could launch as early as April. Crypto exchange users who opt-in to have their funds protected by the Mitsubishi UFJ will be charged a fee for the service.

However, as CEO of Tokyo-based exchange Bitbank Noriyuki Hirosue asserts, the extra fee may be an easy price to pay for those who prefer to trust traditional financial institutions:

    "customers will feel peace of mind knowing that a trust bank is managing their assets."

Japanese cryptocurrency investors are arguably especially sensitive to the risks of using crypto exchanges -- major Japan-based cryptocurrency exchange Mt. Gox infamously shut down in 2014 after hackers stole 850,000 of its customers’ bitcoins.

Japan is well-known as a global leader in cryptocurrency investment and regulation. Nikkei reports that Japan’s Financial Services Agency is set to recognize cryptocurrencies as assets that can be placed in trust by April 2018. 


Source: https://cointelegraph.com/news/japanese-banking-giant-wants-to-prevent-another-mt-gox

What the Fork? New SegWit2x Launches With Massive Premine, Unknown Development Team



The new SegWit2x, a revival of the original hard fork designed to help with the scalability issues of Bitcoin, was scheduled to happen at Bitcoin block number 501451. That block was mined at around 6PM UTC, Dec. 28, and the team behind the project announced its official launch:

    The Long Awaited Launch of New Bitcoin SegWit2X Fork Finally Took Place! pic.twitter.com/GC46rYFoOI
    — Segwit2X (@Segwit_2X) December 28, 2017


The original SegWit2x

The SegWit2x movement has originally started in May 2017, as a direct result of the New York Agreement (NYA). The idea behind the agreement, originally signed by more than 50 leading Bitcoin companies, was to achieve a compromise on how to scale Bitcoin for a larger audience.

One of the sides, the “small blockers,” wanted to implement the second-layer solution called SegWit, which did indeed take place on Aug. 24, 2017. That was the first part of the compromise. The other part of the deal was designed to appease the “big blockers” by increasing Bitcoin’s block size limit to 2 megabytes. However, this was never followed through with, directly violating the agreement.

The fork was slated to happen on Nov. 16. However, as the developers unveiled the actual code for the hard fork, a vastly negative reaction from the Bitcoin community immediately followed. The lack of replay protection, along with general concerns about the safety of a possible hard fork, gave rise to an entire movement against SegWit2x, aptly called #no2x.

After several weeks of controversy, the fork was cancelled on Nov. 8, about a week before its scheduled arrival. The team tasked with creating the code for SegWit2x shelved the plan due to a lack of consensus.


SegWit2x 2.0

The cancellation, apparently, only lasted so long, as the fork was seemingly revived in late December by a different group of developers. A website has been set up, stating  the mission, the roadmap and the team behind the new fork that was set to take place on Bitcoin block 501451.
Sketchy?

Reports began surfacing over the past several days that focused on several inconsistencies on the project’s home page.

First and foremost, the team behind the new fork has nothing to do with the people behind the original New York Agreement and the SegWit2x that was cancelled in November. They have even admitted it themselves in a chat with the Finance Magnates news site.

There is very little information available online about the team members listed on the official website. For example, the project’s supposed founder, Jaap Terlouw, only has a half-empty LinkedIn profile. There he claims that he is the ‘main developer’ of the new SegWit2x, with no other sources to corroborate his status as a ‘developer.’

Moreover, the project’s GitHub account is just 9 days old as of press time, which makes it even younger than some of the earlier announcements of the upcoming fork in the press.

Adding to the list of concerns, the code stored in that GitHub account indicates that the team members were planning to assign themselves 6 mln premined coins, a whopping 28% of the total supply of 21 mln:

21 mlm



This constitutes an incredible degree of control over the project that some would argue a scrupulous team should not have. Likewise, it represents an enormous (and instant) potential profit to the team members. This could encourage a quick pump-and-dump.

Paid-for press releases distributed to various Blockchain-related websites, such as Bitcoinist and even the Russian-language VC.ru, were highlighting the tremendous increase in the value of the futures contracts of the new SegWit2x, just as some other news outlets have been voicing concerns about the intentions of the team behind the project.

Topping the list of reasons for suspicion is the bizarre promise to issue “a proportional number of Satoshi Nakamoto`s Bitcoins” to all BTC holders after the fork takes place. No indication has been offered of how would the team actually be able to access the coins that have been held by the mysterious creator of Bitcoin since the earliest days of its existence.




Source: https://cointelegraph.com/news/what-the-fork-new-segwit2x-launches-with-massive-premine-unknown-development-team