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  New Bitcoin ETF Effort Launched by Money Management Firm
Posted by: admin - Yesterday, 10:07 AM - Forum: News From Cryptocurrency Market - No Replies

A US-based money manager wants to launch an exchange-traded fund (ETF) tied to the price of bitcoin.

VanEck, which is headquartered in New York, is seeking to create the "VanEck Vectors Bitcoin Strategy ETF". The goal, SEC filings reveal, is to have the ETF listed on the Nasdaq exchange.
According to a preliminary prospectus published on August 11, the fund won't directly invest in bitcoin as is case with other ETFs tied to the cryptocurrency. Rather, it will purchase stakes in derivatives and financial products that offer exposure to bitcoin market developments.
As explained in the filing:

Quote:"The Fund seeks to achieve its investment objective by investing, under normal circumstances, in U.S. exchange-traded bitcoin-linked derivative instruments ("Bitcoin Instruments") and pooled investment vehicles and exchange-traded products that provide exposure to bitcoin (together with Bitcoin Instruments, "Bitcoin Investments")."
The ETF won't be limited to just bitcoin-tied securities, however. Beyond that, the fund will also invest in US Treasury bonds, money market funds and cash, among other possible assets, according to the prospectus.
The latest ETF bid comes on the heels of growing activity on the cryptocurrency derivatives front.
Last month, the US Commodity Futures Trading Commission granted a derivatives clearing organization license to startup LedgerX, and options exchange CBOE plans to launch such products later this year.
Whether the SEC will approve the ETF remains to be seen, given that it's an area that the regulator has resisted in the past.
SEC officials shot down two separate bids in March, including one spearheaded by investors Cameron and Tyler Winklevoss. In the latter case, the agency has since moved to launch a review of that decision, the results of which are expected later this year.

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  BTC Reaches Another All Time High
Posted by: admin - 08-15-2017, 11:23 AM - Forum: News From Cryptocurrency Market - No Replies

Bitcoin has reached another all time high of $4,300 on the cryptocompare index. The recent rally has spawned from a series of good news in the Bitcoin space. The August first hardfork went smoothly. Since the hardfork, Segwit successfully locked in on Friday 11th leading to the price breaking the $3,300 resistance and is climbing into uncharted territory.
The recent climb has been lead by the Japanese markets with daily volumes of over 130,000 Bitcoin on the largest exchange - Bitflyer.
Given the growind deman in the country, Bitcoin is trading with a premium of up to 5-6% against the USD markets. After legalising bitcoin as a form of currency in early April. Japanese investors have shown a significant interest in the currency as a method of hedging poor returns on FX and Japanese markets. 

According to Yahoo Finance, Bitcoin is $400 million more valuable than PayPal, whose market cap is $70.2 billion versus the $70.6 billion of Bitcoin.

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  Chain Group Service
Posted by: admin - 08-15-2017, 07:01 AM - Forum: Proofs of payment - Replies (3)

Do you want to earn on cryptocurrency trading?

At Chain.group, those who want to make money on cryptocurrency exchanges meet those who is good at doing it. The site presents a list of Trade Groups and Investors can select a Trade Group to invest in. 

0.1-10% daily, depends on a Trade Group offer

Join here: 

[Image: 468x80.gif]

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  Chain Group - Trading for those who are good at this!!
Posted by: admin - 08-15-2017, 06:31 AM - Forum: Reviews - No Replies


- SSL Certificate (SSL)

Evaluation: 3/5


- Good design template and members area
- Custom made script 

Evaluation: 4/5

Investment Plans

A unusual concept of investment is well present here with Trading Groups where you can invest your money. The most relevant fact here is that Chain Group Escrow Service has only one investment offer (investment plan). All other offers are from third-parties, independent Trade Groups. They are serviced by Chain Group Escrow Service, but Chain Group Escrow Service does not own or manage these Trade Groups.
If this is true or not, well, you decide...

5 investment plans are present:

The Chain Trade Group Plan

This group is the only one that ChainGroupService explicitly claim ownership. 

It runs for a term of 500 calendar days. During that time members are promised a fixed daily payment of 0.2% interest on their deposits. As you can probably work out already that just allows you to break even on the final day, which then becomes 100% net profit when ChainGroupService returns your principal as promised.

The Cloud Share Plan

Also a long term option, though comparatively faster with a term running just 120 calendar days. The minimum requirement to join is a $25 investment. Payments to investors are variable, with an enormous gulf between possible minimum and maximum limits. Interest rates are paid by the day and start from 0.1%. On the other hand they can go as high as 10%. Your principal is included in the payments and will not be returned on expiry.

The Bit Strong Plan

Another longer term plan that runs for 250 calendar days this time, and also sees ChainGroupService make daily interest payments of variable rates. These can be as low as 0.1% or stretch to as much as a 3% maximum limit. Not as much as the previous offer, but the crucial difference here is that you are allowed to withdraw your principal before the expiry date if you are not happy with the performance. This will however cost you a 30% penalty fee, so think very carefully about your options before joining. The minimum investment is $5 and your principal is returned on expiry.

The Dragon Foundation Plan

Runs for 180 calendar days and costs $10 to join. Interest payments are made every day and are again variable. They start from a possible low of 0.1% or on better days could potentially be as high as a 6% maximum. No principal withdrawal is permitted.

The TG Thomas Plan

Another long term variable payments option with a $10 minimum joining fee. The full term runs for 300 calendar days, and while interest rates are typically somewhat lower than some of the other plans ChainGroupService do allow members to leave early if they want to before the final expiry date. This isn’t free of course and will cost you a 20% exit fee, so that’s going to eat into a fair share of whatever profits you might have made. Payments open at a minimum of 0.1% and on the best possible days can go as high as 1.7%.  Principal is returned on expiry.

Evaluation: 5/5


- Custom made script

- Company Registerd

Evaluation: 3.5/5

Social Networks

- The mention to social networks is present
 with Twitter and a YouTube channel available.

Evaluation: 4/5

In conclusion, I give to this program a Evaluation of 3.9 out of 5.

Remember, invest all you can afford to lose!

You can join here:

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  Bitcoin Established Its New All-Time High (Again)!
Posted by: admin - 08-14-2017, 08:27 AM - Forum: News From Cryptocurrency Market - No Replies

Yesterday, the Bitcoin price established its new all-time high at $4,168, moving closer towards the $5,000 target. The rally boosted the market capitalization of Bitcoin beyond the $65 billion mark for the first time. Bitcoin's market cap was rounding $66.6 billion at the time of writing.

Currently sitting at $4083, the BTC price has reached an all time high of $4,168, with over $470 M worth of BTC exchanged in the USD markets in the last 24 hours.

Japan has seen an accentuated increase in demand and has been trading BTC with a 6% premium to the USD. With a trading volume of 116.37B JPY (roughly $1Billion) in the last 24h, Japan holds a 46% market share in daily trading.

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  Bitcoin exchange Coinbase confirms its unicorn status with $1.6 billion valuation
Posted by: admin - 08-11-2017, 08:33 AM - Forum: News From Cryptocurrency Market - No Replies

[Image: brian-armstrong.jpg]Coinbase CEO Brian Armstrong Twitter/brian_armstrong
Coinbase, the cryptocurrency exchange that broke hearts last week with its initial decision not to support bitcoin cash, confirmed to the world Thursday that it is in fact a unicorn.
The San Francisco-based company raised $100 million in Series D funding, led by IVP, which it will use to expand staff, invest in projects, and open a GDAX office in New York City. GDAX — the global digital assets exchange — is a Coinbase-owned exchange for institutions and professional traders to trade cryptocurrencies. 
This funding round puts Coinbase's valuation at $1.6 billion.
"Digital currencies are having their 'Netscape' moment," wrote Brian Armstrong, CEO of Coinbase. "The pace of innovation has been accelerating and we are now seeing exciting projects and companies being built on top of digital currencies. We’re beginning to transition into phase three of our secret master plan."
Speculation had been brewing around its funding since June, when The Wall Street Journal reported that it might hit unicorn status.

But for the last two weeks, the company has been on the defense, following its decision not to participate in the bitcoin fork on August 1, which split bitcoin — the established cryptocurrency which users can exchange on Coinbase — into a new currency called bitcoin cash. 
Coinbase warned its users that they would have to withdraw bitcoin reserves from Coinbase before the fork if they wanted to see their share of the automatically generated bitcoin cash. 
"Our goal is to be the safest, most trusted and compliant, and easiest to use," Armstrong wrote at the time. "Not the first to market with new assets. Especially at scale, it takes time to ensure any new asset we add is well tested and secure."
The company wouldn't say how many users withdrew from the exchange following that announcement, but the website was brought to a halt, with delays around 12 hours for users looking to move their bitcoin.
However, the company reversed its decision late last week, and said it would add support for bitcoin cash by 2018.
Coinbase still hasn't announced whether it will add exchanges for bitcoin cash, but at the very least, users will be able to withdraw the bitcoin cash automatically generated in their wallets at the time of the fork. 

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  Bitstamp Will Add Ether Trading to Cryptocurrency Exchange
Posted by: admin - 08-10-2017, 12:04 PM - Forum: News From Cryptocurrency Market - No Replies

European cryptocurrency exchange Bitstamp will launch new trading pairs for ether next week.
Beginning on August 17, Bitstamp will add markets denominated in US dollars, euros and bitcoin for the ethereum-based digital currency. As part of the release, Bitstamp also revealed a new pricing structure for its markets, which unifies the fees it assesses among the exchange's trading pairs.
In an effort to promote the new markets, Bitstamp will waive trading fees for those pairs until October 1. It will continue to offer discounts through the end of the year.
Bitstamp is one of the last major cryptocurrency exchanges to list ether. In statements, the exchange indicated that it will add support for additional assets, framing the unified fee structure release as part of that process.
Founded in 2011, Bitstamp is one of the world's oldest bitcoin exchanges. According to data from CoinMarketCap, Bitstamp operates the third most voluminous exchange in US dollar terms, reporting about $43 million in trades over the past 24 hours.
The addition of ether comes amid new developments in that digital asset's market. As CoinDesk reported yesterday, ether prices crossed the $300 line for the first time in a month.
Ether markets have subsided somewhat since then, trading at roughly $294 at press time.

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  Australian Senators Call On the Reserve Bank to Back Bitcoin
Posted by: admin - 08-09-2017, 08:31 AM - Forum: News From Cryptocurrency Market - No Replies

Senators in Australia are putting their political differences aside and are banding together to urge the Reserve Bank to back bitcoin as an official currency.
According to Labor senator Sam Dastyari and Liberal senator Jane Hume if the Reserve Bank of Australia doesn’t embrace the digital currency it could risk Australia’s future competitiveness, according to The Sydney Morning Herald.
As part of their efforts to get the central bank on board Dastyari and Hume have formed a group called the Parliamentary Friends of Blockchain.
The efforts from the lawmakers comes at a time when bitcoin broached the $3,400 mark for the first time in its history, with $3,500 easily within sight. With the digital currency gaining prominence in value and increased adoption it has suddenly become a contender in the financial sector.
So much so, that Australia’s lawmakers want the central bank to create its own digital currency and blockchain to use on the market.

Already this year, the government of the Australian state of Victoria announced that it had become a member of the Australian Digital Currency and Commerce Association (ADCCA) in its bid to explore commercial blockchain applications.
Philip Dalidakis, Victoria’s minister for small business, innovation and trade, said that it gives the government a better understanding of the technology.
He added:

Quote:This [membership] will give our FinTech startups and entrepreneurs the best possible chance of succeeding.
Ronald Tucker, the chairman of the ADCCA, said that a digital currency in Australia that was backed by the government would cut settlement times.
He said:
Quote:It would be an auditor’s dream because you’ll be able to see any transaction that moves on it.
In April, it was reported that the Reserve Bank was studying the blockchain for the financial system. According to the report, the central bank underlined blockchain technology as an aspect of FinTech that “has been examined closely.”

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  Segwit is Expected to Lock in This Evening
Posted by: admin - 08-08-2017, 08:43 AM - Forum: News From Cryptocurrency Market - No Replies

Segregated Witness (SegWit, for short) is scheduled to “lock in” within 24 hours and activate in about two weeks. Not everyone understands what this Bitcoin protocol upgrade actually does, so in this article, I seek to explain to a general audience what Segwit is.

[Image: 1*czS856mC2Z1ukLMvadEhvg.png]

But first, let’s take a look at bitcoin.
Bitcoin As A Global Ledger
To understand Segwit, we first have to understand a little bit about Bitcoin.
If you think of Bitcoin as a single global ledger, a Bitcoin transaction is a lot like a bank check. As the owner of some amount of money, you can sign over some of your money to someone else.
And, much like a check, a Bitcoin transaction has a signature. Instead of a physical signature, you create a digital signature using your private key.
Interestingly, while a signature on a physical check takes up maybe 10% of the check, a digital signature in bitcoin takes up more like 50% of the digital check.
To continue the analogy, a Bitcoin block is like a box of signed checks or transactions. Much like physical boxes in the real world, Bitcoin blocks have a limit on how many transactions they can contain.
Right now, those boxes come in a standard 1MB size — and they are full. You can put just a few checks into the box so that it’s almost empty, but you can never put more checks into the box than the box can hold.
To keep the global ledger consistent and cheat-proof, everyone that wants to can audit the ledger by auditing these blocks (boxes of checks). A copy of the box of checks is sent to anyone that wants to audit the ledger.
If, in an audit of these boxes of checks, someone found that one of the checks overspent (that is, the person writing the check does not have enough money in their account to cover the transaction), they would reject the entire box.
This is important since, otherwise, people would start writing bad checks. We also need to do this fairly often so people can actually have a good idea of how much money they have, so we send the boxes of checks to everybody (meaning every node on the system) to audit pretty frequently — every 10 minutes on average.
Contextualizing the Scaling Debate
Because there’s a limit to the block (box) size, there is a limit to how many checks that can clear on the network in a timely manner. That is, the throughput of Bitcoin transactions is limited. The scaling debate that’s been going on for the past few years in Bitcoin is really about how to get more transactions through the system.
The two solutions that groups came up with can be thought of in two ways. The first would be to make the box sizes bigger. The second would be to create a new type of check and only give bigger boxes to those who request them.
Making the Box Bigger
One group wanted to do away with the current boxes and make the boxes larger. This is great if everybody is forced to use a bigger box, but there are some problems with this idea.
If some people kept using the smaller box, this would cause discrepancies in the ledger and create two different ledgers. Additionally, even if everyone used the bigger box, a lot of people checking the ledger would not receive the bigger boxes in time to examine that all the checks were valid. 10 minutes is too little time to receive and audit the box for some people.
The main advantage of making the box bigger is that it’s a relatively simple change. There aren’t new style checks to worry about and everything can operate as before.
Bitcoin Cash is essentially using this solution by lifting the 1MB block size limit and implementing an 8MB block size instead.
Changing the Checks
The other solution is to introduce a new style of check. We could still make larger boxes available, but only to those that want them. This “change the check” solution essentially cuts away the signature part of the check for everyone that isn’t accepting the bigger boxes.
Remember how the signature is about 50% of the transaction? SegWit cuts the checks in half and sends everything but the signature to everyone that’s accepting the old, smaller box. We send the larger boxes to everyone that’s accepting the new, larger box.
Given that the checks are half the size for the smaller boxes, we can fit about double the number of checks in the smaller boxes, increasing throughput. Anyone that’s receiving the larger box could audit everything in the box as normal and anyone receiving the smaller box could still audit without worrying about getting the signatures in time.
Because we’re accommodating the people that aren’t using the newer, bigger box, SegWit is backwards compatible. That means everyone will have the same copy of the ledger no matter what size box they’re using.
The main drawback to SegWit is that everyone will have to get used to the new style of checks before we see some gains in throughput. It’s also a bit more complicated than just making everyone use a larger box. Additionally, everyone receiving the new style checks but using a smaller box won’t get to audit the signatures since they won’t receive them.
Bitcoin is using the “new check” solution starting in a couple of weeks.
In Summary
Bitcoin is a distributed ledger, and it helps to think of transactions and blocks as checks and boxes. Bitcoin Cash is standardizing on a bigger box for everyone while SegWit is using larger boxes for some while accommodating those that don’t want to use larger boxes with new types of checks.

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  Trader Claims He Lost $430,000 at Digital Exchange BTC-e
Posted by: admin - 08-07-2017, 08:30 AM - Forum: News From Cryptocurrency Market - No Replies

Australian cryptocurrency trader Jack Kingston has claimed that he lost $430,000 worth of the digital currency Bitcoin at the exchange BTC-e after the US authorities have gained control of the exchange.
He said that he just cannot log in at the exchange’s website one day and that the US government has painted all the exchange’ users as criminals and confiscated their money.
In an early August 2017 interview, Kingston said that his trading activities at the exchange are all legal. He claimed that he was attracted and really enjoyed trading at the exchange because it was very easy.
His past trading experiences
The Australian trader intimated that he has been trading digital currencies for years. He had created an account at the exchange Poloniex, but he experienced difficulty in getting second-level verification that makes managing his account very hard.
The exchange also failed to provide him better verification after two to three months, despite providing his email addresses and a bill for his living address.
He claimed that his experiences at BTC-e had been very smooth and that was the reason why he traded at the exchange. He was also able to trade a lot of money involving Dash nodes at the site.
He said:

Quote:“But the real reason I was trading so much money is because when you’re swinging $100,000 to 200,000 trades and Bitcoin moves two percent you’re doing alright. For me, it’s a part time thing on the side.”
His plans
Considering his exchange platform is under the US jurisdiction, Kingston plans to communicate with the US Federal Bureau of Investigation (FBI) so that he can have his money back. He claimed that he has proof that his money is legit.
He also believed that the exchange is conducting its business legally and that he will also continue trading at the exchange if ever it operates again and it will refund his money back.
With BTC-e recently regaining access to its platform and currently undergoing data and balance sheet review, looks like Kingston won’t have to reach out to the FBI.

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