What Is Anonymous Bitcoin Cryptocurrency?


TheMerkle Anonymous Bitcoin

For those people who are fed up with cryptocurrency hard forks, ignoring Anonymous Bitcoin may be the best course of action. This yet-to-be created currency will take the best aspects of Bitcoin and ZClassic and combine them into a powerful currency. Creating a full-privacy alternative to Bitcoin is not necessarily something new, but Anonymous Bitcoin claims it can do a better job than others have.  

The Purpose of Anonymous Bitcoin

It is commendable to see developers take a different approach when it comes to dealing with Bitcoin and privacy. More specifically, most cryptocurrency users are all too aware of how Bitcoin itself is neither private nor anonymous by any means. While some government officials may claim otherwise, anyone can see that Bitcoin is not the tool with which to hide one’s financial activity.

Even so, there is a growing demand to bring more privacy to Bitcoin itself. We do know that some Bitcoin developers and contributors are bringing Monero-like features to the world’s leading cryptocurrency, although nothing has been set in stone just yet. Until those changes are officially introduced, Anonymous Bitcoin may offer some relief to cryptocurrency enthusiasts, assuming this project offers something people are actively looking for.

What makes this upcoming hard fork so interesting is that it combines aspects of Bitcoin and ZClassic. ZClassic itself is a fork of Zcash, a currency primarily focused on privacy. When forks create new forks, we are living in the Forkening itself. Even so, Anonymous Bitcoin will offer zkSNARKs technology to facilitate anonymous transactions. Additionally, it will introduce faster transactions by increasing the overall block size, similar to what Bitcoin Cash is doing.

As one would almost expect by now, Anonymous Bitcoin will also offer a masternode feature to let users stake their coins and make a profit from providing valuable network services. It seems most cryptocurrencies focusing on privacy and anonymity rely on masternodes to a certain extent, although there are always some exceptions. It will be interesting to see if this business model benefits BTCA in the long run.

It is expected that the BTCA testnet will go live in early August of this year. That test will determine whether the infrastructure can succeed in a real-world environment, or if any further changes will need to be made in the coming weeks. Assuming the test is successful overall, Anonymous Bitcoin will go live on September 9, although that date is subject to change. The associated airdrop will occur around the same time.

As is always the case, it remains to be seen whether or not there will be any interest in Anonymous Bitcoin. Given the upcoming addition of privacy features to Bitcoin itself – albeit with no official timeline – it is doubtful too many people will pay attention to this upcoming fork. Even so, there is a genuine demand for privacy and anonymity where cryptocurrencies are concerned. It is likely we will see another massive ZClassic price pump as the airdrop of BTCA draws near.


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NEO Price Continues to Rise as $90 is in Sight Once again


TheMerkle NEO Price Dip

It has been a while since people actively discussed the NEO price. Thanks to all of the current positive momentum, that situation will come to change fairly quickly. Even though the NEO price did not hold on to the $90 price level, it seems the overall uptrend over the past week still remains in place. Especially now that Bitcoin and Ethereum are recovering a bit as well, things look pretty good for this altcoin.

How High can the NEO Price Really go?

As is always the case when it comes to cryptocurrency price speculation, there are no certainties. With Bitcoin suffering from a brief dip this morning, there were some concerns as to what the future would hold for most cryptocurrencies. So far, it seems the dip has been bought up again, and the uptrend will be resumed for quite some time to come. This also spells good news for the NEO price, which continues to appreciate in value as we speak.

To put this into perspective, the NEO price has attempted to reach $90 on multiple occasions in the past seven days. Earlier attempts were rejected and even result in a temporary dip below $70. Ever since that time, the uptrend has been resumed and culminated in a jump to $91.8. Holding on to that price level proved to be a bit too much, though, and the NEO price is now attempting to reclaim the $90 level in the coming hours and days.

As of right now, the NEO price sits at just under $88 thanks to another 12% gain over the past 24 hours. The altcoin has also gained 11.96% on Bitcoin, which is always interesting to keep an eye on. If this trend remains in place, surpassing $90 again shouldn’t be all that difficult. Unfortunately, the cryptocurrency markets remain volatile first and foremost, and anything can happen in this industry when people least expect it.

Thanks to $622.115m in 24-hour trading volume, the demand for NEO appears to be more than genuine at this stage. Cryptocurrency markets are in a good place right now, and the slow but steady uptrend is a more favorable approach compared to the madness in late 2017. While it remains unclear if the NEO price will reach a new all-time high this year, the current trend appears solid and should lead to some fireworks moving forward.

Most of the NEO trading volume originates from the Binance exchange, which represents  24.7% of all trades in the past 24 hours. Even so, Upbit has the pair with the most volume in terms of its NEO/KRW offering. Bitfinex and OKEx are also in the top five, which makes for an interesting mix of exchanges.  With two fiat currency pairs in the top five, this NEO price uptrend might remain in place for some time to come.

As is always the case in the cryptocurrency world, making accurate price predictions is guesswork more often than not. Despite the current bullish momentum, there is no guarantee the NEO price will retake the $90 level at some point in the future. Common sense seems to indicate that will be the case, but holding onto that price level may prove to be rather challenging, for obvious reasons. For now, the positive momentum is firmly in place, but things can always turn around on a dime.


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EOS Price Drops Sharply as Massive Gains Turn Into Steep Losses


Given all of the cryptocurrency momentum we have seen in the past few weeks, it is not entirely surprising to see most markets cool off a bit. Especially the EOS price is taking a massive beating right now, which is not entirely surprising. The project has seen a massive value increase over the past few days, even though the underpinning technology is far from production ready.

EOS Price Correction was Direly Needed

It has been a crazy end of April for most of the cryptocurrencies out there. With Bitcoin and most altcoins going up in value by anywhere between 20% and 65%, it is only normal a price correction would set in sooner rather than later. For the EOS price, that correction may get pretty steep, as this currency has seen the highest gains or any cryptocurrency on the market. The only logical outcome is how it will also see the biggest correction of all currencies, although the jury is still out on that one.

With the EOS price losing 14.07% in value over the past 24 hours, things are not looking great for this altcoin. At the same time, the EOS price still sits comfortably above $18. Whether or not that is overvalued, remains to be determined, as the testnet for this project is the only major development to date. With no live net, live applications, or real-world use cases for this blockchain and its smart contracts, the current valuation makes zero sense to level-headed cryptocurrency enthusiasts.

It is also worth noting EOS is losing ground against both Bitcoin and Ethereum as of right now. With a 12.44% loss over Bitcoin and a 14.02% loss over Ethereum, the downtrend for EOS is in full effect. If this trend remains in place, the EOS price will undoubtedly drop to $15 and potentially even lower. That would also push its market cap to below $15bn again, which may still be extremely overvalued for the project in its current state of “usability” or lack thereof.

One thing that is rather impressive about EOS is how it generates over $4.7bn in 24-hour trading volume. Although over half of this volume is mainly driven by hype and FOMO rather than genuine interest in what the EOS project has to offer, it is still a noteworthy development regardless. Very few cryptocurrencies can generate such a volume, which certainly makes EOS a currency worth keeping an eye on moving forward.

As one would come to expect, South Korean exchanges play an integral role in the EOS trading market. Both Bithumb and Upbit generate over $650m in 24-hour trading volume, albeit neither of these platforms has the highest volume as of right now. Instead, that title belongs to OKEx’s USDT pair for EOS, which generated just over $782m in 24-hour trades. Huobi and Bitfinex complete the top five, albeit in less spectacular fashion than one might expect.

Whether or not the EOS price will recover quickly or continue to go down, is very difficult to predict as of right now. Both options are more than viable, and most people will agree EOS was due for a price correction at some point.  Such spectacular gains can never go unpunished in the cryptocurrency world, for obvious reasons. It is unclear if this is just profit taking or people effectively dumping, but time will tell what the reasoning behind this current bearish pressure is.


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Poloniex Will Not Support MoneroV and Will Disable Monero Transactions on Monday


TheMerkle MoneroV

With all of the hard forks going on in the world of cryptocurrency, it is difficult for exchanges to keep tabs on things. It now seems most of the exchanges will not support the upcoming MoneroV hard fork. For some people, this is anything but a surprise, whereas others see it as a form of censorship.

Poloniex Wants Nothing to do With MoneroV

Monero users are all too aware that there are numerous hard forks of this particular currency. While there are very few coins which offer both privacy and anonymity features in a permanent fashion, it is evident Monero is the one currency to keep an eye on in this regard. As such, some coins are trying to ride its coattails to success, including the upcoming MoneroV hard fork.

While it remains to be seen how MoneroV will shape up compared to Monero itself and XMR’s future offspring, Poloniex has made its position on this altcoin clear. More specifically, the trading platform will not support the MoneroV fork, which is not much of a surprise.

For those unaware, this hard fork will occur when the Monero blockchain reaches block height 1,564,965. This should occur on Monday, if everything goes according to plan. There is an annoying side effect to this hard fork, as Poloniex will also halt all Monero transactions on the platform for a few hours.

This means users who want to deposit Monero to Poloniex will not be able to do so through regular means. Instead, the money will be credited once the wallet is enabled again, and some delays will occur in the process. According to the official notice issued by Poloniex, this should happen within a few days, which seems to indicate that XMR trading will be disrupted for more than the standard four to six hours when a hard fork occurs.

Users who still want to obtain their MoneroV coins will need to move their XMR balance from Poloniex to a compatible wallet or exchange. It will be interesting to see how many platforms will support this hard fork that no one asked for, as there has been no indication that any major platform – except HitBTC – wants anything to do with this fork at this stage.

One thing to take away from all of this is that the number of new cryptocurrency hard forks will not diminish in the near future. In fact, it is possible this trend will continue for quite some time, especially where popular cryptocurrencies are concerned. Bitcoin has seen a few of them, and now it is Monero’s turn.

For exchanges, keeping tabs on these forks and airdrops is of the utmost importance. However, it is evident that not all forks and airdrops are created equal, as most of them will turn out to be useless clutter. Which end of the spectrum MoneroV will end up on is very difficult to determine as of right now. 


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Revolut Adds Support for Both XRP and Bitcoin Cash


TheMerkle XRP Price $1.5

Cryptocurrency trading continues to make inroads all over the world. Surprisingly, this trend has been quite prevalent in the broader financial industry. Revolut, a digital banking startup, enabled support for Bitcoin, Ether, and Litecoin quite some time ago. They now provide support for XRP and Bitcoin Cash as well, on the heels of raising another $250 million in funding.

Revolut is on a Roll

When major financial service providers begin paying attention to cryptocurrencies, things will undoubtedly get exciting. Revolut has made its intentions regarding cryptocurrencies quite clear, as they already offer support for Bitcoin, Ethereum, and Litecoin. Users can buy, hold, and exchange these currencies at the best possible rate at all times.

With the company now adding XRP and Bitcoin Cash to their list, the London-based digital banking startup is banking big on various cryptocurrencies. It is pretty interesting to see this company acknowledging that the demand for access to cryptocurrency volatility is on the rise. With prices rebounding a bit this month, it is only normal that people want to get in on the hype.

This news comes at an interesting time for both the cryptocurrency industry and Revolut itself. The company recently completed a Series C funding round of $250 million, which brought its total valuation to $1.7 billion. Whether or not this successful Series C funding has anything to do with the company’s newfound focus on cryptocurrencies remains unclear, although it may have helped quite a bit.

With the addition of these new currencies, Revolut is strengthening its position in the market. Its crypto-oriented trading solution is fully compliant with existing regulation. However, there is still a fair bit of scrutiny to contend with when it comes to running a company providing services to multiple cryptocurrencies, even if that list only includes the top currencies ranked by market cap.

Perhaps the most interesting addition to Revolut’s offerings is XRP. Since it’s more of a digital asset than a traditional cryptocurrency, its addition to Revolut could spark a lot of renewed interest in XRP. Especially considering that this asset has struggled to get on some of the world’s largest exchanges, having Revolut on board is a major development. It’s also good news for Bitcoin Cash, which continues to make inroads in the cryptocurrency world as well.

With mobile banking apps like Revolut bringing consumers and cryptocurrencies together, it will be interesting to see how this development affects the likes of Bitcoin and Ethereum moving forward. With the global interest in this new form of money still rather high, one would expect the value of these currencies to continue rising accordingly. Only time will tell whether or not that occurs, as this volatile industry goes through its ups and downs on a rather regular basis.


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Binance Group Plans to Create 40 Jobs in Bermuda


binance logo

The year 2018 has been pretty positive for the Binance exchange so far. Unlike what most people may have expected, the company is expanding its presence at an accelerated pace. Earlier this week, the company signed a Memorandum of Understanding with Bermuda’s Premier and Minister of Finance. 

Another Notch in the Belt of Binance

It appears there is no company in the cryptocurrency world which is as popular as Binance is right now. Considering its position in the industry, one would expect some companies and governments to be paying attention to Binance. However, it seems the company is firing on all cylinders right now, as Binance Group makes some sort of headline virtually every other day. This is a positive development for the cryptocurrency industry as a whole, though.

The company recently set up shop in Malta, and it now seems Binance Group is focusing on Bermuda. Although that country is not necessarily new to cryptocurrency or blockchain technology, not too many ventures have made headlines there in the past few months. At a press conference last week, Premier and Minister of Finance David Burt signed a Memorandum of Understanding with Binance Group. This seems to hint at a developing partnership between these two entities, which can only be considered a good thing.

Said Burt:

Binance has decided that their goals align with our aims and objectives to provide a leading, well regulated jurisdiction, ideally suited to the growth of the FinTech industry. And so today, we are pleased to sign a Memorandum of Understanding that sets out the beginnings of a partnership that I am confident will benefit the people of Bermuda.

The mention of a “well-regulated jurisdiction” is pretty interesting. It has become apparent that Binance wants to make a positive impact in the regulatory department all over the world. Doing so is not straightforward, as most governments remain opposed to cryptocurrency, for obvious reasons. It appears the government of Bermuda is taking a completely different approach, although it remains to be seen how this will play out exactly.

We do know that Binance Group plans to create at least forty jobs in Bermuda. This harkens back to the company’s recent announcement involving Uganda, where new jobs will be created as well. Most people tend to overlook the fact that cryptocurrency firms can create a lot of jobs, assuming governments allow this industry to thrive. Additionally, the Binance Foundation will sponsor university-level training in blockchain technology development. The Foundation will contribute up to $10 million to this venture, which is well worth keeping an eye on.

With Binance making such a positive impact on a global scale, it is of the utmost importance that other cryptocurrency exchanges and service providers try to take a similar approach. Bringing cryptocurrency to the masses will require a lot of collaboration between different entities. This means service providers have an important role to play too. So far, Binance is the only one trying to make an impact, but things may change over time.


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Funguana Is an Upcoming Trading Bot Combining TA With Machine Learning


TheMerkle Cryptotrader Trading Bots

Cryptocurrency trading bots have always been rather popular. Although it is not too difficult to learn how to trade cryptocurrencies – or just hold them – people still like the convenience offered by a trading bot. One Reddit user has been working on a project known as Funguana, and it is good to see more trading bots being brought to the masses.

A Closer Look at Funguana

As is always the case when someone decides to build a trading bot, there are some concerns as to whether or not this is a legitimate venture. After all, we have seen a fair few trading solutions with less than honest intentions, and there is no reason to think we won’t see more of those creations in the future. Funguana appears completely legitimate, but always do your own research before experimenting with applications still in development.

As for Funguana, the bot was built by an individual who “got tired of losing money by incorrectly timing trades”. It is a feeling which a lot of speculators will know all too well. With cryptocurrencies remaining so volatile, it is pretty difficult to properly trade them for the most profit possible. Especially because not all currencies can be traded on every exchange, it’s a bit of a chore to keep up with it all.

Funguana seemingly aims to solve this problem. There is no need to pay for the bot, and it does not require any information other the API keys for the exchanges one is trying to keep tabs on. This is on par with how most other trading bots and portfolio management solutions work in the cryptocurrency world. There’s always a risk when entrusting third-party software with your API keys, but the trade-off can be worth it if the trading bot is completely legitimate.

Under the hood, Funguana will use a combination of technical analysis and machine learning. Although most cryptocurrency speculators swear by TA over anything else, it is good to see machine learning involved as well. There’s also an evolutionary algorithm which should be able to handle most trading circumstances automatically. Last but not least, Funguana will offer risk analysis to ensure people can make good trades in as many cases as possible.

One thing some users may dislike is that the degree of customization offered by Funguana will be fairly limited. This is a conscious decision, as the developer mainly aims to make trading as easy as possible, rather than let users create their own strategies and so forth. That could be a bit of a problem in the long run, but it will attract a lot of cryptocurrency speculators regardless. It is possible the bot will become more advanced as time progresses, but it is still too early to make any guesses in this regard.

So far, it seems the cryptocurrency community is quite interested in this project. A lot of users remain wary, which is only to be expected for a trading bot that’s currently still in beta. Interested parties can sign up on the website to gain access to this trading bot at some point, although official invites may not go out immediately. With more trading bots coming to market, interesting things are bound to happen in the cryptocurrency world.


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What Is Bitcoin Prime Cryptocurrency?


TheMerkle Bitcoin Prime Fork

Cryptocurrency hard forks have become a lot more common in the past few months. Virtually every major currency has its own hard fork right now, and it seems this somewhat popular trend will not slow down anytime soon. With Bitcoin Prime now looming on the horizon, there will be even more confusion in the cryptocurrency industry.

Is There a Purpose to Bitcoin Prime?

We don’t necessarily need more forks of Bitcoin which will get some initial hype and then drop off the radar completely. Although it is still too early to tell what will happen with Bitcoin Prime in the long run, the project is shrouded in mystery for the time being. It was only announced a few hours ago, and no real specifics have been made public at this time.

We do know Bitcoin Prime is an alleged fork of Primecoin and Bitcoin. That is a rather interesting development, as Primecoin is not something most people have kept tabs on after its initial hype in 2014 died down. Most people expected PrimeCoin to have been dead in the water by now, but it still has some sort of value and its trading volume is increasing as we speak. This is probably because of the Bitcoin Prime announcement, though, which may indicate that this is another attempt at manipulating both existing and upcoming cryptocurrencies.

With not much information to go by right now, there has been a lot of speculation as to what one can expect from Bitcoin Prime. It is evident all of these hard-forked currencies have a lot to prove to the masses, as just being a hard fork is not sufficient to gain any sort of traction. If there are no notable differences between Bitcoin Prime and other forks of Bitcoin, it will not gain any traction whatsoever. Nor should it, as there are thousands of currencies in existence already.

There are rumors that one of the Bitcoin Prime lead developers is Rhett Creighton. While that name may not mean much to the average cryptocurrency enthusiast, Creighton was recently fired from Bitcoin Private. This is a very surprising development, although it doesn’t come as much of a surprise. 

As is always the case when a forked currency appears, the question arises as to whether or not the various cryptocurrency exchanges will support this token. In this particular case, it appears virtually impossible that any reputable exchange will support Bitcoin Prime right away. Even so, getting listed on an exchange would not in itself make Bitcoin Prime a worthwhile currency.

For now, we will have to wait and see how this fork of Primecoin and Bitcoin will pan out. There will undoubtedly be some initial momentum and hype associated with Bitcoin Prime, but as we have seen with other hard forks, that momentum could die down pretty quickly. With no official release date set for Bitcoin Prime, there is very little reason to pay much attention to this project until more definitive details are announced.


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Bitcoin Price Watch: Currency Stands Firm at $9,300


Bitcoin is holding steady at $9,300. It’s a good sign that bitcoin can remain firm over the weekend, and $10,000 may not be too far off the mark.

The largest rewards are now being witnessed in mining. It was recently speculated how profitable mining could truly be if bitcoin’s price remained under $8,600. Figures like Fundstrat’s Tom Lee were discussing the notion of bitcoin mining losing full profitability, but now bitcoin stands $700 above the mentioned position.

A few weeks ago, for example, a 1080ti GPU from Nvidia was earning about eight dollars a day. That meant a miner could allegedly earn their investment(s) back in just under four months. It was an exorbitantly long time to wait to see profit. At the time, bitcoin was hovering around the $6,600 range, and rewards for mining had ultimately come to a crashing halt.

From there, the 1080ti’s earnings dropped to $1.40 a day before incurring a slight rise to $2.40 per day, and some believe the fall in mining profits was more an indicator of where bitcoin’s price would go – not vice versa. Typically, it’s the price of a coin that decides how its mining future will appear, but in the case of bitcoin, reward amounts can be very useful indicators of whether the price will ultimately swing up or down. The closer these indicators are to “basic demand and supply fundamentals,” the better.

Mining rewards are usually tied to the general demand of a coin. When a demand outdoes a supply, the rewards swell up almost immediately, and can be sensitive indicators of potential bullish behavior for bitcoin’s price trends.

However, growing demand can also mean less flexible coin supplies, which may have massive repercussions on the price. Wherever the mining rewards turn, the price will usually follow.

The good news is that bitcoin’s price is up 27 percent since the start of April. While regulation is still a looming threat, analysts believe the future of cryptocurrencies remains promising, and that the present bull run is not likely to dwindle in the coming days.

“Bitcoin’s price has shown resilience multiple times this year when it has dropped below $7,000, even in the wake of negative events such as India’s recent ban on banks engaging in cryptocurrency-related activity, Mt. Gox trustee sales, and tax-related sell-offs,” commented Garrick Hileman, co-founder of cryptocurrency and data research firm Mosaic.io. “Positive drivers include reports that major financial institutions, such as Barclays, are getting more serious about entering the crypto space.”

Glen Goodman – bitcoin analyst and author of the upcoming book The Crypto Trader – feels that while it’s somewhat hard to label present maneuvers as part of a legit bull run, bitcoin is more than likely to strike higher figures this coming May.

“The market may have slumped this year, but crypto technologies have quietly continued to improve in the background,” explained Goodman. “Bitcoin cash (the popular bitcoin alternative) has already more than doubled in price this month. I think it’s still a bit early to declare the dawn of a new bull market, but we’re seeing more optimism in the crypto community than we’ve seen in months.”


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CFTC Aims to End Cryptocurrency Pump-and-Dumps With a Bounty Program


TheMerkle CFTC Cryptocurrency Fraud Charges

Pump-and-dump schemes are nothing new in the world of Bitcoin and cryptocurrencies. Such scams and hype cycles come around virtually every other week. The US Commodity Futures Trading Commission is all too aware of such developments. As such, the agency has created a bounty program meant to encourage whistle-blowers to expose these schemes.

Ending Crypto Pump-and-dumps

Those of us who have been involved in cryptocurrency for multiple years will have noted a disconcerting trend. Whenever a new cryptocurrency comes around, there is a lot of initial hype. However, there is also a very real chance that such currencies will turn out to be pure pump-and-dump schemes. Most of the altcoins we have seen in the past few years adhere to this P&D-style of marketing, and eventually become obsolete.

This type of behavior leaves a lot of bagholders behind. Consequently, people become a lot more cautious when it comes to dealing with various cryptocurrencies. Considering that the cryptocurrency industry already has its own problems when it comes to its public image, the last thing we need is more pumps-and-dumps. Unfortunately, it seems such schemes aren’t going anywhere, even though the CFTC has come up with a plan to curb this type of activity.

More specifically, the CFTC has created a bounty program focusing on cryptocurrency pump-and-dump whistle-blowers. The objective is to encourage such whistle-blowers to come forward and expose projects which will become shady sooner or later. This is another positive measure meant to protect novice speculators from losing a lot of money, as that is still one of the biggest risks associated with cryptocurrency investment.

Anyone who has “original information that leads to a successful enforcement action that leads to monetary sanctions of $1 million or more” will be eligible for a monetary award. There is no fixed amount associated with this bounty program, as whistle-blowers will be eligible for a reward of anywhere between 10% and 30% of the sanctions. This certainly sounds appealing to anyone who wants to make the cryptocurrency industry more secure in the long run.

It is evident there are little to no repercussions for any scammer who tricks cryptocurrency speculators into buying a specific coin or token. Although there are some projects which have led to major lawsuits, the total number of scams is still a lot larger than the number of lawsuits related to cryptocurrency pump-and-dumps. With this new bounty program, things may improve in the long run, but it will not be easy to drive this change.

For the time being, we will have to wait and see how successful the CFTC venture will be. A monetary reward for whistle-blowers is a good thing, but it doesn’t necessarily mean the number of cryptocurrency scams will drop off all of a sudden. It would be good to see a decrease in the number of pump-and-dumps in the cryptocurrency world, but one shouldn’t expect any major changes in the near future.


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