Cardano (ADA) nearing to aim $0.1 USD, As market has another Stellar performance!

Cardano (ADA) was not doing much enough in the last week as its price dropped to $0.06 USD but by the end of week it gained a bit of momentum. The market on Thursaday, 27th September opened with most of the cryptocurrencies advancing towards a high flight. Major coins are having a better week than last one, as they witness a bullish run in last 24 hours.

Cardano started of the day with $0.079 USD, at the time of writing, ADA was trading at a price of $0.080 rising at the rate of 3.64%, having a market cap of $2.097 billion USD. Yesterday, an increase in the volume was seen as compared to last week which went up to $64 million USD. It has a volume of almost $60million USD, at the moment. Binance Exchange, one of the biggest cryptocurrency trading exchange network, ADA had a trade volume of $19.5 million USD in last 24 hours. However, Cardano (ADA) situation on Tuesday was quite different and it was dropping at the rate of 9%, it has been a good turn around for Cardano.

Weiss Ratings suggested that Cardano (ADA) will have the highest pullback along with other altcoins including IOTA, XRP and NEO. Well their prediction was right on the spot as, IOTA has surged up to 1.11%, NEO has also gained about 3% and XRP has been the stand out gaining up to 10% in last 24 hours (at the time of writing). Weiss Ratings tweeted:
“If you believe #crypto market will return to its former glory, the benchmark for a 10X gain, is a 90% retracement. As of today, here are a few of top-25 coins that are at or above a 90% pullback: #IOTA = 90%#NEO = 91%#XRP = 93%#ADA = 96%
These are absolute steals right now!”

According to some experts, Cardano (ADA) can move up to $1 USD, increasing by almost four times from know, but this can take a while. This shows that their is a lot of bullishness regarding ADA. Cardano enthusiasts on twitter are showing their happy as they think this is the time to buy more Cardano coins. This shows that ADA will surge more in next 48 hour time.

Charles Hoskinson, owner of Cardano (ADA) is in Japan to celebrate the one year anniversary of Cardano. In a video message, he stated that they are going launch ‘Infinito Wallet’ i.e a mobile wallet. It now supports users to securely send, receive, and check transaction history of ADA on mobile. Infinito Wallet is the first mobile wallet to support ADA.

Infinito Wallet is the world’s most common home to many big tokens on biggest smart contract platforms including BTC, BCH, LTC, DASH, ETC, ETH, EOS, NEO and DOGE. After adding ADA, Infinito Wallet has achieved yet another incredible milestone. It will boost up the price and increase the adoption of Cardano.

Some more news are to come from Cardano community, as Charles further stated that he will meet some dealers during his stay in Japan, Tokyo. So we can hope some big news from Cardano in next few days and it will really help ADA to surge more. So this is the best time to buy Cardano, as it will bring much more profit in coming days.


Source
Author: MaxPositives
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Trezor Users Can Now Exchange Cryptocurrencies Directly In-Wallet

This week the hardware wallet Trezor added the ability to buy and trade cryptocurrencies within its beta wallet’s interface. Now users can swap between eleven different digital assets without the possibility of compromising funds by leaving them on an exchange.

Trezor Hardware Wallet’s Beta Version Allows Users to Buy & Trade Digital Currencies

Users can now swap cryptocurrencies from within their Trezor hardware wallets by using the firm’s beta wallet. The beta wallet is almost identical to the traditional user interface but it contains different features not yet added to the main Trezor client. On September 19, Trezor explained on Twitter, “Our beta servers now allow you to exchange cryptocurrencies directly in the Trezor Wallet interface.” The wallet’s new exchange section allows users to purchase cryptocurrencies from exchanges, and swap their existing digital assets on the same trading platforms.

Exchanges available on the Trezor beta wallet.

When entering the beta page, it’s basically the same as the main client and you will have to plug in your Trezor and login to use the new features. Once inside the wallet, on the top right side of the screen there’s a new ‘exchanges’ tab.

A disclaimer must be accepted to use the exchange services.

If it’s a person’s first time using the exchange feature, they have to agree to a disclaimer that states basically all the trades made is between the assets’ owner and the third party trading platform. The digital asset exchanges available on the Trezor platform include Changenow, Coinmama, Changelly, Paybis, and Coinswitch. The wallet’s users can swap BCH, ZEC, XRP, LTC, BTG, XMR, DASH, DOGE, BTC, ETH, ETC, and XMR.

Trezor Exchange Feature is Optional and the Trading Platforms Might Run KYC

A representative from Trezor explains the company won’t be running any Know Your Customer (KYC) requirements for the new feature. “Just to clarify, we won’t run KYC — The exchanges might. (We do not offer exchange services, they all go through third parties.),” the team’s marketing manager details on Twitter.

It’s an optional service. If KYC will be enforced by those services, user will know it and can refuse to continue — Decentralized exchanges are, of course, being evaluated.

The Trezor hardware wallet will be joining Keepkey as the Shapeshift owned manufacturer’s hardware wallet also enables cryptocurrency swaps in-wallet as well. Keepkey owners have the ability to use Shapeshift by selecting a currency in their wallet they would like to trade with the other digital assets offered in the drop-down menu. With Shapeshift changing its business model to a membership service, it is uncertain how it will affect its compatibility with Keepkey. Ledger Wallet does not provide any exchange or trading services in any of its hardware models. However, there is a section in the Ledger Live platform that shows a Buy/Trade tab but the browser redirects the user to the exchange after it is chosen.

Images via Shutterstock, Pixabay, and the Trezor wallet inte


Source
Author:  Jamie Redman 
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Crypto Hedge Fund vs. Litecoin and its Creator

In a new research report, written by Tushar Jain, managing partner of Multicoin Capital, the crypto hedge fund reveals that it has taken a bet that Litecoin will decline in price by shorting the coin widely considered to be “the silver to bitcoin’s gold.” The fund argues that “Litecoin is a relic of the pre-smart contract platform crypto ecosystem.” Litecoin creator Charlie Lee dismissed “concerted effort to suppress Litecoin price” as FUD “by groups that see Litecoin as a threat.”

Proponents of Litecoin often argue that it serves important functions in the crypto ecosystem by functioning as a testnet for bitcoin and being fast and cheap medium of exchange for everyday payments.

Multicoin, however, does not share the view that Litecoin is a viable medium of exchange (MoE), writing that “Litecoin is not uniquely positioned to become a MoE and there is no substantial evidence of its adoption.” The report further pointed out that the Litecoin Foundation’s specific payment processor, Litepay, “ceased operation” in March of this year, which further lowered the usefulness of Litecoin as a medium of exchange.
Also, Multicoin writes that the Litecoin Foundation is also close to running out of capital necessary to continue development of the protocol. Currently, the foundation owns assets worth only about USD 322,000, of which 82% is held in LTC. The report further notes that although Litecoin has “not been completely abandoned by developers, […] no new material developments that can be attributed to Litecoin.”

The fund expects these “multiple strong negative catalysts over the coming months”:
Growth in Coinbase listings rapidly diminishing Litecoin’s position as the comfortable entry point into crypto for naive investors who don’t understand that you can purchase fractional coins
* Increased usability and higher capacity of Bitcoin resulting from Segwit and Lightning * * * Network adoption
* Viability of Lightning Network as a payment rail
* No differentiated roadmap for LTC
* Persistent selling pressure due to mining
* Bitmain reportedly owns over 1M LTC and is likely to sell the LTC to continue their support for BCH

However, the Litecoin creator took to Twitter to defend the cryptocurrency in a series of 11 tweets.
According to Lee, Litecoin “has one of the most secure networks of all altcoins”, “has a ton of liquidity”, and is supported by 9+ payment processors which makes it “extremely easy for merchants to accept LTC”.
Also, he stressed that Litecoin processes USD 200 million worth of transactions each day and “the network has worked flawlessly for 7 years.” Moreover, Lee claims that “Litecoin will always be the cheapest and fastest on ramp to Lightning Network.”

Also, not everyone shares the same view as Multicoin. Back in August, Mati Greenspan, senior market analyst at the social trading platform eToro, wrote in a report that he believed Litecoin was trading at a “massive discount,” while recommending investors to buy the coin.
The analyst argued then that Litecoin is one of the most liquid cryptocurrencies in existence, has a large market cap, and acts as an important gateway from fiat currencies and into the world of crypto, while adding that retailers are increasingly accepting Litecoin as payment.

Litecoin’s market capitalization currently sits at around USD 3 billion. With a price per coin of about USD 54, Litecoin is now down 87% from its peak of USD 420 on December 12 last year after an extreme run-up in prices during that month.


Source
Author: Fredrik Vold
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Charlie Lee on the Game Plan for How Litecoin, Bitcoin and Crypto Can Replace Fiat

In a fireside chat with Thomas Hu, founder of Kyber Capital, Litecoin founder Charlie Lee sat down with CoolBitX CEO Michael Ou to analyze what it means to be your own bank by using cryptocurrencies and their underlying blockchain technology. They cover issues surrounding mainstream adoption, stablecoins and certain features that can improve Bitcoin and Litecoin.

“If people are using cryptocurrencies instead of other forms of money like fiat, then we’ve achieved mass adoption,” says Lee. He adds that it’s going to be a long road and that the crypto community is making a lot of improvements. Last year he pushed for second-layer solutions such as SegWit and the Lighting Network to help with scaling, speed and privacy. As engineers work behind the scenes on delivering a more robust system, he says the key is the UX and making it easy for people to use.

“With cryptocurrency you are your own bank, so you have to actually protect your own coins. And a lot of people have failed to do that and lost coins because they stored it on an exchange that got hacked or they used an insecure wallet or they printed it out on a piece of paper and lost it. So it’s very easy to lose your funds from hacking or by accident. So hardware wallets, especially easy ones to use like CoolWallet, is a really important step towards making it easy for regular people to secure and spend their coins.”

 

Ou breaks down the full scope of financial freedoms cryptocurrencies can bestow on users.

“Being your own bank is apparently one of the greatest ideas ever since we’ve had traditional financial systems because with wallets like the ones we’ve built, the meaning of being your own bank becomes literal. There will be no one able to stop you from sending your money to somewhere you want or there will be no one able to freeze your assets, and there will no one to tell you, ‘Ok, today you can only send $500 to your friends somewhere else.”

Hu asked Lee and Ou if they believe that crypto developers have not been clear enough about what it means for people to be their own bank. Since mainstream institutions already have brand recognition and some degree of trust among consumers, and now that they’re “trying to come in to take control of the industry, to some degree,” are crypto organizations like Litecoin well positioned for mass adoption.

Lee explains how Litecoin can become a major force for mass adoption and why the trade-off isn’t necessarily between using the custodial services of a bank or rejecting banks and standing alone, assuming all risk, to become your own bank.

“I see Litecoin as complimenting Bitcoin to serve alongside Bitcoin as sound money. I think that with being your own bank, it’s true that with cryptocurrency you get freedom of money so you have control of your own funds. So no one can tell you that you can’t spend money to play poker online, for example. But also, with that, you have to protect your own money. But that doesn’t mean third-party solutions can’t help.

Hardware wallets or even centralized solutions can help secure. So you have bank-like products like Coinbase, for example, where people trust them to secure the funds for you. So you deposit your funds with them. But the great thing about cryptocurrency is that it’s open. You can always pull your money out of Coinbase and put it somewhere else if you don’t like them. So transferring on the blockchain, the Bitcoin Litecoin network, is secure and it’s not censorable.”

According to Lee, there’s no one-size-fits-all approach to managing your coins. Consumers have a number of options and they can choose the method that works best for them.

“So there will be some people who actually hold all their coins themselves. It’s kind of like holding cash in your house under the mattress. You can always do that if you choose to. You have to protect it yourself. Or you can put it in a ‘crypto bank’ and have other people help you protect it. Or you can use hardware wallets and make it a lot safer. So I see multiple ways to achieve mass adoption where people can use crypto without really being a security expert themselves.”

Regarding stablecoins, Lee says they’re a part of the USD market and that they’re not taking any market share away from Litecoin, Bitcoin or any other cryptocurrency.

“I’m not sure if there will ever be a decentralized stablecoin that actually works,” he says. “But definitely there will be centralized stablecoins like Tether.”

Lee believes stablecoins could also be used to spend like regular money, if that’s better for merchants. Consumers can then choose, for example, to hold Bitcoin or Litecoin, if they believe it’s the better store of value, and then convert their investments to a stablecoin to spend.

“Governments, and even potentially the US government, might do their own stablecoin,” says Lee, “and that’s going to be a really powerful coin because it’s backed by the government. And that’s fine because fiat is backed by the government.”

Creating more options and more interoperability strengthens the cryptocurrency ecosystem. Lee points out that the Lightning Network, in addition to tackling scalability, is important because it can connect different currencies like Bitcoin and Litecoin. That allows someone to send Litecoin, in a decentralized manner, and then the recipient receives Bitcoin, and vice versa. So if a merchant only accepts Bitcoin and a customer only has Litecoin, the transaction can still happen.

“I think fungibility is one of the main features of money that is missing in cryptocurrency, or at least in Bitcoin and Litecoin, and I think that’s something I want to see improved where people have their privacy when spending money. So eventually, if people get paid in cryptocurrency or if you get your salary in cryptocurrency, you don’t want to expose that to Starbucks when you buy a cup of coffee. Because right now, you will. If you spend that money to buy something, the recipient will see it publicly on the blockchain, and see how much money you have.”

In addition to adding privacy features to Bitcoin and Litecoin, Lee would like to see other scaling solutions. “For mass adoption, Lightning Network is one way to scale. There are other ways to help scale the network to support a lot more users.”

The Litecoin Summit will be held on September 14-15 at the South San Francisco Conference Center.


Source
Author: Daily Hodl Staff
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Dogecoin Sees 15% Surge, “DOGE Is The Envy Of The Crypto World”

Dogecoin Continues To Head To The Moon, Even Amid Mixed Market

As reported on multiple occasions over the past few weeks, Dogecoin, the internet’s favorite meme cryptocurrency, has been on a rip as of late. Per data compiled by TradingView (seen below), the price of the asset, which is now the 20th largest cryptocurrency by market cap, has near-tripled in USD value over the past two weeks and has more than tripled in Satoshis.

It is clear that the price of the crypto asset has easily outperformed the market as a whole, with the market falling by upwards of 20% in the same period that Dogecoin essentially shot to the moon. At the time of writing a single DOGE token is worth $0.006813 cents and is up 13.16% on the day, which is impressive considering that a majority of the foremost altcoins are posting 3% losses to 1% gains for the past 24 hours. It seems that this isn’t any old low-liquidity pump as well, as the DOGE trading pairs have been backed by nearly $80 million in daily volume.

In the span of a few weeks time, the meme, blockchain-based digital asset rose from a zombie-like state to the primary topic of discussion within the cryptosphere. In fact, a majority of the foremost commentators, personalities, and analysts in this nascent space have taken to Twitter to comment on this asset’s jaw-dropping (to say the least) run.

“Dogecoin Is Making Your Cryptocurrency Look Like A Joke”

Most recently, on September 10th, Kevin Rooke, a Canadian cryptocurrency researcher, used his in-depth analysis skills to provide an interesting tidbit of research to his small, yet dedicated Twitter following.

Rooke first outlined the ever-changing sentiment surrounding Dogecoin, noting that in 2017, the asset was seen as a joke. But now, the meme currency, which has become popular for microtransactions, tipping, and gifting in the coin’s tight-knit (yet expansive) community, is making other cryptocurrencies look like a joke, alluding the performance of the asset and the blockchain backing it.

Bringing credence to his claim, the researcher brought up the statistics of the foremost crypto assets in existence. Highlighting the 24hr “Adjusted Tx Volume (USD),” Rooke revealed that Dogecoin’s volume is 3x that of Bitcoin Cash, 8x Litecoin, 13x Dash, 35x Decred, and 41x Bitcoin Gold.

In other words, despite the cryptocurrency often being used for microtransactions, the Dogecoin network has been seeing millions of dollars worth of DOGE, or $134 million to be exact, flow through its blockchain. It is also important to note that Dogecoin also has an astounding number of active addresses at 93,523 in the past 24 hours, which is surprising considering Litecoin’s 79,181, Bitcoin Cash’s 31,171, and Dash’s 38,430.

Mind-numbing figures aside, it is clear that Dogecoin is still seeing eye-opening levels of use and adoption, even amid one of the worst bear markets in the cryptosphere’s history. Closing off his tweet, Rooke wrote:

Dogecoin may have started as a joke, but their community is now the envy of the crypto world


Source
Author: Nick Chong
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Do NOT dump your BTC, ETH, LTC – 3 Reasons Why – Do Not Panic

A $40 billion drop from the crypto market in a day – Why you shouldn’t still panic?

On Sept. 6, the crypto market lost almost $40 billion from its valuation in under 24 hours, exhibiting one of the steepest decreases in the previous three years.

In mid August, the digital currency advertise dropped to its yearly low at $192 billion, however it took seven days from Aug. 7 to Aug. 14 to record such an extensive drop in valuation.

Preceding Wednesday, during the time of August, Bitcoin demonstrated its largest amount of soundness since June of 2017, as specialists at Diar noted. From Aug. 8 to Aug. 26, the cost of Bitcoin remained moderately stable in the $6,000 area, before starting a late restorative rally over the $7,000 obstruction level.

3 Reasons you should not panic

1. There is not a specific 1 Reason for the decline – Stay safe from FUD

The biggest thing you need to realize while reading online news (“fake news”) is that the price decline is never due to a single reason. From Goldman Sachs delaying its trading desk, delay of Bitcoin ETF, China FUD, and India’s ban – Nothing has full control on the crypto industry, and has nothing to do with the sharp decline of BTC, ETH or any of your crypto.

2. Sharp Decline and Sharp Fall is “Normal” for the Cryptocurrency market

Have a look at the history of Bitcoin. Bitcoin price declined to $45 from $259.34, down 83% in April 2013. From $1163 to $152.40 in January 2015, down 87%.

Think of people who sold Bitcoin at $45.

 

3. Fake Volumes are controlling the market – They want you to Sell your Cryptocurrencies

Alex Kruger, a business analyst and a crypto trader, expressed not long ago that Bithumb, South Korea’s second biggest digital currency trade behind Kakao-run UPbit, said that more than $250 million worth of phony volume was made since Aug. 25.

He clarified that one gathering of traders has been exploiting Bithumb’s 120 percent exchanging charge payback, which can produce about $90,000 in net wage, with a $250 million day by day exchanging volume.

Straightforwardly or in a roundabout way, the strategy used by Bithumb has boosted wash exchanging that knocks up the day by day exchanging volume of the cryptographic money trade. The end result is a day by day net wage of $90,000 for a gathering of brokers and a huge increment in the every day exchanging volume of Bithumb.

In any case, while the strategy prompts a win-win circumstance for the two gatherings, it influences the worldwide digital money trade showcase adversely — as it decreases the genuineness of the universal exchanging volume of cryptocurrencies.

Source
Author: Nadja Eriksson
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Coinbase Announces Four New GBP Crypto Trading Pairs

Just a month after Coinbase announced that it would support UK banks on its platform the crypto exchange is now launching GBP trading pairs.

According to the company blog the new Sterling trading pairs will be launched on Friday, September 7. The move is part of the San Francisco headquartered firm’s push to make buying and selling cryptocurrencies easier for UK customers. Previously Coinbase users in Britain had to deposit fiat into an account in Estonia and endure excessive fees and commissions since it was then converted to Euros on the trading platform. The announcement explains that it is now much easier to use the platform;

“With support for UK domestic bank transfers in GBP via the Faster Payments Scheme, it is now significantly easier, faster and cheaper for UK customers to trade cryptocurrencies on the Coinbase platform. Coinbase Pro is the only major digital currency trading platform that supports UK Faster Payments and it’s our goal to be the trading platform of choice for UK crypto traders.”

Coinbase currently uses Barclays Bank which makes transferring from other UK accounts, though not all of them, quicker and cheaper. Account verification is done with a simple £2 deposit which is acknowledged the following day. The Faster Payments Scheme is only available in the UK and allows up to £250,000 per transaction.

In addition to the existing BTC/GBP pair four new ones will be enable; ETH/GBP, LTC/GBP, BCH/GBP and ETC/GBP. There will be three stages to the launch to ensure a smooth rollout and adoption;

  • Post only. In the first stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of 10 minutes.
  • Limit-only. In the second stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of 10 minutes.
  • Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.

Despite the current market calamity Coinbase is aggressively expanding into new markets and new currencies. By making it easier to deposit fiat and trade in the home currency the exchange is angling to take the top spot in the UK.


Source
Author: Luke Thompson

 

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 02/09/18

Bitcoin Cash makes a move to leave the majors in its wake, in what’s been a testy start to the day following Saturday’s rally.

Peoples TokenBitcoin Cash Hits $600

Bitcoin Cash rallied by 14.1% on Saturday, following Friday’s 0.61% gain, to end the day at $618.9.

Bitcoin Cash steered clear of the day’s first major support level at $534.03, with a start of a day intraday low $541.2, as a broad based market rally kicked in, with Bitcoin Cash breaking through the day’s first major resistance level at $549.13 and the second major resistance level at $556.37 to a late morning high $572.

An early afternoon move saw Bitcoin Cash break through the day’s third major resistance level at $571.47 to an intraday high $633.3 before easing back, Bitcoin Cash hitting $600 levels for the first time since 18th August.

At the time of writing, Bitcoin Cash was 5.51% to $653, with Bitcoin Cash managing to recover from a start of a day dip to a morning low $603, breaking through the day’s first major resistance level a $654.4 with a morning high $656.

For the day ahead, holding above the day’s first major resistance level at $654.4 would support a continued run that would bring the day’s second major resistance level at $689.9 into play, the crypto bulls eyeing $700 levels, though we can expect some profit taking before the weekend is out, with investors wary of possible negative news hitting the wires at the start of the week.

Failure to hold above $654.4 through the morning could see Bitcoin Cash take a hit later in the day, though we would expect sub-$600 support levels to be left untested, barring materially negative news hitting the wires.

{alt}Litecoin Steadies

Litecoin gained 6.95% on Saturday, following on from Friday’s 3.1% rise, to end the day at $66.45, its highest close since 7th August.

Tracking the broader market, Litecoin moved from a start of a day intraday low $62.12 to a morning high $64.87, breaking through the day’s first major resistance level at $63.44 and second major resistance level at $64.74, with day’s first major support level at $60.19 left untested.

An early afternoon breakout saw Litecoin hit the day’s third major resistance level at $67.99, with an intraday high $67.96, before easing back in the final hours.

TIPAt the time of writing, Litecoin was down 0.26% to $66.30, with Litecoin sliding to an early morning low $64.52 before finding support, the day’s first major support level at $63.06 left untested early on.

For the day ahead, a move through a start of a day morning high $66.47 would support a run at $67 levels to bring the day’s first major resistance level at $68.9 into play, with Litecoin needing to hold on to $66 levels through the morning to support second half of a day rally.

Failure to hold on to $66 levels could see Litecoin slide back through $65.5 to bring the sub-$65 levels and the day’s first major support level at $63.06 into play. Holding above $65.5 through the early afternoon would be key to Litecoin avoiding a reversal of Saturday’s gains.

{alt}Ripple Makes a Splash

Ripple’s XRP gained 3.59% on Saturday, following Friday’s 0.09% rise, to end the day at $0.34703.

Bucking the trend across the broader market, Ripple’s XRP had a choppy morning, moving through the day’s first major resistance level at $0.3417 to a morning high $0.34406 before pulling back to $0.33 levels.

Tracking the broader market through the afternoon, Ripple’s XRP broke back through the first major resistance level and the second major resistance level at $0.3483 to an intraday high $0.354 before pulling back to $0.34 levels in the final part of the day.

At the time of writing, Ripple’s XRP was down 0.77% to $0.34455, with Ripple’s XRP sliding to a start of a day morning low $0.3377 before recovering, the morning low holding above the day’s first major support level at $0.3365.

For the day ahead, a move through $0.3453 would support a run at a start of a day morning high $0.34721 to bring $0.35 levels and the day’s first major resistance level at $0.3558 into play, a reversal of the morning’s slide providing the crypto bulls with some hope of a second half of a day recovery, while some profit taking off the back of 2-consecutive days of gains may limit the upside later in the day.

Failure to move through and hold above $0.3453 could see Ripple’s XRP pullback through the morning low $0.3377 later in the day, with the day’s first major support level at $0.3365 and sub-$0.33 levels in play should the broader market fail to track Bitcoin Cash into positive territory.

{alt}


IZXHere at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author Bob Mason
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AVATARA

Research Predicts Bitcoin at USD 144,000, Community Amused

Initial coin offering advisory firm Satis Group predicts Bitcoin’s price could reach USD 144,000 within the next decade and USD 96,000 in half that time, but the crypto community is getting less gullible. “Someone with a bias makes a guess,” is how Reddit user u/bahkins313 sums up the reaction from the rest of the community.
LIONBIT
These predictions were reached by starting at the assumption that the more tokens are in circulation, the less their value. The research also estimates a constant increase in price, but claims “conservative” estimates in general. In short, it relies on a price prediction based on underlying value rather than speculation. “Cryptoassets which apply unique value propositions within deep and viral markets” should spike, and these include Bitcoin, Monero and Decred among others, while Bcash will drop as it is a “cryptoasset which attempts to inherit brand recognition and provide minimal technological advantage to incumbents.”

The prices that should see the biggest drop, according to the document, are Stellar, Ripple and Cardano; Monero is estimated to reach close to USD 40,000 within the decade, and Ethereum should see about a double increase in price, but neither a spike nor a drop like the others.

The crypto community sarcastically calls this a “Monero shill” and generally consider it “a**talkery.” On Twitter, user @Mr_Rupee says, “The good part of making 10 year prediction is no one will remember to question you after 10 years….” Of course, there are always those shilling their own coins that they claim will replace existing ones. Some people simply call Satis Group “scammers.”

Twitter user @0xPineapple writes, “No one has ever successfully applied quantity theory of money to cryptoassets and shown meaningful real world correlation. I suppose it could be an instructive thought exercise in the absence of proven frameworks. Are these guys pivoting away from ICO services?”, while @njderuiter says, “@SatisGroup is the same group that claimed 80% of ICOs were scams. Nobody bothered to check their flawed research, where factors they chose to define whether something would be labelled as such were either extremely vague, or simply ridiculous. But hey, it fits the narrative!”
TIP
Still, Satis Group is hardly the only one with bullish predictions. Tim Draper, famous early investor in groundbreaking projects such as the internet, Tesla, Skype and Hotmail among others is famed for his prediction that BTC will reach USD 250,000 within four years. John McAfee, a self proclaimed “crypto visionary” and software tycoon, predicted that Bitcoin would reach USD 1 million by the end of 2020, or he will eat his… private parts. Tom Lee, the head of research at Fundstrat Global Advisors, is more conservative, but still estimates BTC may go above USD 20,000 by the end of this year, while Phillip Nunn, a high-profile blockchain consultant, online influencer and popular public speaker, estimated that the end of the year will see BTC at USD 60,000.



Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author: Sead Fadilpašić
Image Credit: iStock/AnthiaCumming
Image Credit: Satis Research

AVATARA
Peoples Token

Litecoin – One Of The Top Altcoins

While the crypto sector is caught in a bear market, it makes sense to use the time to research potential future opportunities and learn more about specific use cases and understand all those different tokens and coins.

Litecoin (LTC-USD) is the oldest alt coin and remains a good alternative to Bitcoin (BTC-USD). With its open source, global payment network that is fully decentralized without any central authorities it belongs to the top peer-to-peer Internet currencies that enable instant, near-zero cost payments to anyone in the world.

Any dip below $50 USD over the next couple of weeks and months seems to be a good buying opportunity.

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Learn more about the top altcoins

When getting introduced to cryptocurrencies, it’s no longer adequate to understand bitcoin. A few years ago, this original cryptocurrency was so far and away the leader of the market that it seemed at times like the only one worth knowing about. Since then, however, numerous “altcoins” – which is to say, alternatives to bitcoin – have grown more prominent, more valuable, and more useful. So while it’s true that as of this time none have surpassed bitcoin in value, it’s also true that anyone interested in cryptocurrency should know about the top altcoins.

One that has commonly been cited as the closest imitator of bitcoin and in some ways the pioneer of the altcoins, is Litecoin (LTC-USD).

What Litecoin Is

If you understand cryptocurrency in general, a definition of Litecoin is going to sound very straightforward. It’s an open software, peer-to-peer digital currency. With transactions verified on a blockchain and no central authority managing things, Litecoin (LTC-USD) is essentially identical to Bitcoin (BTC-USD) in structure and operation. It can facilitate payments all around the world with almost negligible transaction fees, and with the same anonymity and security that is at the core of bitcoin.

How Litecoin Is Different

As stated, Litecoin is effectively a replica of bitcoin in form and function. There are some differences though, primarily in market cap, coin cap, and transaction verification. Bitcoin was famously created such that there would only ever be 21 million individual coins mined, and this in some ways is responsible for its high value. A predetermined finite supply has an effect on demand and valuation. Litecoin works the same way, only with a much higher limit of 84 million coins that will ever be mined. However, according to CoinMarketCap, Litecoin also has a drastically lower market cap of $3.3 billion, to bitcoin’s $112.5 billion (roughly).

As for transaction time, it may be where Litecoin (LTC-USD) has its most significant advantage. If there’s a drawback to using bitcoin as a currency it’s that a block of transactions can take about 10 minutes to be verified, which means payments aren’t always instantaneous. With Litecoin, it takes about a quarter of the time, making transactions more convenient. According to Litecoin’s founder Charlie Lee, the period of Litecoin transaction confirmation is shorter about only 2.5 minutes. (Bitcoin takes 10 minutes.) Some also like that Litecoin, at least for the time being, operates at a much smaller value and is somewhat closer to dealing with ordinary currency, whereas bitcoin is so valuable that a transaction might involve an amount such as 0.001 BTC, which can feel a little bit difficult to get a handle on.

Where To Use Litecoin

It’s difficult to provide any kind of comprehensive overview of where you can spend Litecoin, though it may ultimately be best to simply do a search when you’re trying to spend some (or acquire it). This is just because new merchants are always coming and going for cryptocurrencies. Right now though the biggest opportunity may be eGifter, which allows you to spend Litecoin to get gift cards to a range of other stores, and thus makes it more commercially useful. Elsewhere, Litecoin can be used in select online retail environments, at a few casino gaming sites, and at a random assortment of independent merchants that have decided to accept cryptocurrency. Also, Litecoin remains one of THE altcoins that is favored by geeks and programmers. All this leads to the conclusion that Litecoin is used as a form of digital money and there will be demand for it in the future.

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Where Litecoin Can Grow

Answering the question of where Litecoin has the most potential to grow is somewhat like answering the same question for cryptocurrency in general. The obvious answer, if a somewhat vague one, is through digital retail. Sites like Overstock and Steam have at various points accepted bitcoin, and if platforms like these branch out to altcoins, they’ll make Litecoin significantly more useful.

We also mentioned casino gaming sites, and these, as well as betting platforms, should also be on cryptocurrency holders’ radar. Some casino sites have already made it their business to operate with cryptocurrencies, and betting platforms appear likely to follow suit. Every bookmaker is different, and some look to gain an edge specifically through bonuses, deposit options, etc., which makes appealing to crypto holders a natural step to take.

There are of course more possibilities, but these are a few logical avenues that come to mind, and they give you an idea of what to look for if you’re interested in Litecoin’s potential growth.

Potential risks involved with an LTC investment

Generally the crazy growth in cryptocurrency prices in 2017 might currently constrain their adoption as they are mostly being used as speculative assets rather than a currency for real-time transactions. As well due to its unstable prices and therefore high volatility coupled with increased popularity, cryptocurrencies have attracted a lot of inspection from policymakers. Some doubt their position as mediums of exchange while some accuse them of being nothing else than an ‘asset of speculation’. But increased regulation should also help to reduce the volatility of the regulated coin. So far, Litecoin remains extremely unregulated.

Daily Chart: Litecoin (LTC-USD) / Tether (USDT-USD)

Litecoin daily chart as of August 22nd 2018. Descending triangle played out nicely over the last couple of months.. Litecoin daily chart as of August 22nd 2018. Descending triangle played out nicely over the last couple of months..

Since its all-time high at $375 USD back in December 19th last year Litecoin has corrected sharply. The descending triangle pattern played out nicely. After breaking through its crucial support between $109 and $112 USD Litecoin rushed lower and dipped into its strong support zone between $42 and $52 USD. Currently Litecoin seems to be working on a short-term bottom, while the stochastic is flashing a buy signal.

Overall Litecoin doesn’t look too exciting here as another retreat into its support zone is pretty likely over the next couple of weeks or even months. But below $50 USD the risk/reward-ratio is in favor for a long trade or even a longterm buy. It seems as though more patience is needed here.

Conclusion

At the time of this writing, Litecoin (LTC-USD) is just under $60 USD in value. That puts it around its low for the year of 2018, with the high having been just a hair above $300 USD in January. Back then the cryptocurrency surge from late 2017 was still subsiding. It’s a wide range, but those two numbers appear to represent more or less realistic boundaries for Litecoin these days – though it has been trending down.

Should we see more weakness in the coming months towards and especially below $50 USD, it would be time to be bold and step in.


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Author: Florian Grummes
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