The Top-Bitcoin-News of the Week

Bitcoin is back against gold, while IOTA wants to abolish the coordinator. In Texas, (alleged) Bitcoin mines are closed, BTC and XRP begin to take different routes. The Hash War at BCH comes to an end, Bitcoin is still on dive. That’s what interested our audience the most. The BTC-ECHO-Newsflash: The Top-Bitcoin-News of the week.

Not everyone has time to follow the flood of news in the crypto universe. For those (but also for all others) there is the BTC-ECHO-Newsflash: What our visitors found most exciting last week.

This is how gold became debt money – Can this happen to Bitcoin trader?

Max Kuhlmann takes us on a little journey through the history of Bitcoin trader and asks us the question: How could it happen to Bitcoin trader that a pure gold currency became a monetary system of gold-backed promissory notes? How this happened and whether the BTC can also happen is explained in the article.

IOTA plans gradual abolition of coordinator
IOTA’s coordinator is sometimes suspected of not being the most decentralized figure in crypto space. The IOTA Foundation now wants to say goodbye to this.

My Crypto trader Mine: Texas ends Bitcoin Mining Scam

What’s more lucrative than crypto trader mining? Mining scams. But only if it works: https://www.geldplus.net/en/crypto-trader-review/ A deterrent example for fraudsters: my Crypto Mine. BTC, Ripple and Ethereum – Price Analysis KW48 – Exemplary Downward Movement

The dive of the BTC course was without question a formative experience in the last week. With all the lows in the markets one wonders: Where is all this going to lead? Our price analysis gives an assessment.

Crypto and traditional markets KW47 – Separate paths for Bitcoin and XRP?
As most hodlers, traders and those interested in cryptography will have noticed in the meantime, there is still a high correlation between Bitcoin and all the old coins – if BTC rises, the whole market does. The XRP token could soon break away from this. Why? Look here.

Bitcoin mining: Up to 800,000 devices switched off
Mining is particularly attractive in the bull market. However, since the bulls are not very visible at the moment, some miners are currently withdrawing from the market. What this means for the ecosystem – one suspects it – is stated in the article.

War is over: Bitcoin Cash ABC wins out
The BCH war is over. Details are available from our war reporter David. Where does that stand? Here.

BTC-ECHO study: Where does the German Blockchain ecosystem stand?
Finally, a little Advent candy for our readers: our exclusive BTC-ECHO study. We investigated the German Blockchain start-up scene in cooperation with BlockState. The results were some surprising. But see for yourself.

Tiger states: Singapore renounces crypto regulation, Korea renounces openness

The Southeast Asian tiger states are keeping a close eye on crypto currencies, but from different angles, as this week’s latest news proves once again. While Singapore’s highest financial supervisory authority is initially refraining from regulating crypto currencies, South Korea is confirming its sceptical tone. The central bank of the country does not want to recognize crypto currencies as official means of payment.

In the course of the seemingly steadily rising Bitcoin exchange rate and despite increasing state regulation, crypto currencies are gaining in economic importance every day, especially in the Asian region. The largest part of the capital mass is traded here and converted, this betrays the view of the market.

By definition, however, the crypto currencies elude state control and supervision – to the complete concern of some states and the local matador China, for example. Fearing this, the Middle Kingdom had put on hard bandages against crypto currencies last September, closed stock exchanges and banned new crypto currencies, so-called ICOs. In contrast, other countries such as Japan rely entirely on the potential of digital means of payment and accept Bitcoin as their official currency.

The range of government responses to the crypto boom in the Asian economic area is reflected in this week’s news – partly optimistic, partly sceptical – in the Southeast Asian tiger states of Singapore and Korea.

Singapore: No basis for Bitcoin formula

China’s southern neighbour, the island state of Singapore, is less worried this week: in an interview with the American business news channel Bloomberg, Ravi Menon, the director of Singapore’s central bank, stressed on Monday that Singapore had its eyes firmly on the review about the Bitcoin formula but did not want to regulate them for the time being.

“It is well known that Bitcoin formula and crypto currencies are often misused for illegal financial purposes. That’s why we want anti-money laundering controls,” explained Menon. However, there is no need for financial regulation.

According to Menon, it would rather be the aim of Singapore’s financial supervisory authority to establish legal framework conditions for intermediaries and barter exchanges, for example. This is intended to prevent digital money laundering.

As BTC-ECHO reports, several states this week had expressed criticism of the money laundering potential of crypto currencies. For example, the US drug agency DEA and the Central Bank of the United Arab Emirates share Singapore’s concerns.

In general, Menon confirmed the island state’s open course towards crypto currencies in an interview. As Coindesk reports, Finance Minister Tharman Shanmugaratnam only made it clear at the beginning of the month that Singapore had its eyes on their possibilities, but no intention of regulating the digital currencies.

South Korea: Crypto currencies are raw materials for Bitcoin trader

A look at South Korea, however, shows that such an open central bank course does not dominate the picture everywhere. This week, for example, completely different tones were heard from the Bitcoin trader of the supreme financial authorities of China’s eastern neighbour: According to the Korean news service Seoul Yonhap-News and Coindesk, Korea’s central bank director Lee Ju-yeol, in an official assessment to the country’s parliament, underscored Korea’s refusal to accept crypto currencies as a scam of payment.

Crypto currencies are a commodity, not a legal currency. Lee Ju-yeol told the deputies that this would allow their further regulation.

With this estimate the authority confirms its skeptical course opposite crypto currencies. In recent months, it has significantly intensified its regulatory efforts and banned Initial Coin Offerings (ICOs) in September, for example, like China.

In his assessment, Lee Ju-yeol stressed that, similar to Sweden, more research is needed in the area of virtual currencies. With this, crypto investors can continue to hope. The rejection of the Korean central bank does not seem to represent a complete rejection of the potential of digital means of payment.

Bitcoin payment made easy: Shop modules for eCommerce merchants

More eCommerce merchants are taking an interest in Bitcoin payment in order to set themselves apart from their competitors and to specifically address the growing target group of Bitcoin customers. Innovative providers such as Coinsnap now offer the simple integration of Bitcoin payment including comprehensive payment services for over 30 leading shop systems.

Millions of new customers want Bitcoin news

Bitcoins are revolutionising commerce: With Bitcoins, consumers worldwide can carry out business transactions independently of banks, free of fees and commissions and in real time. All they need is a Bitcoin Wallet and the associated Bitcoin news app on their smartphone.

At the same time, the number of Bitcoin users is growing rapidly: In April 2015, 8.5 million consumers (worldwide) already had a Bitcoin Wallet – and the trend is rising strongly: According to current forecasts, by the end of 2015 more than 12 million consumers worldwide will already be trading Bitcoins. As a rule of thumb, it can be assumed that the number of users will double every 10 months.

This rapidly growing community of Bitcoin users is naturally interested in providers whose products they can purchase with Bitcoins – providers who naturally search and find them on the Internet.

Even though the number of Bitcoin payments is still at a comparatively low level, more and more online merchants are recognising this trend and are using the new payment method in a targeted manner to set themselves apart from the competition in terms of advertising and to develop the customer group of Bitcoin users for their offers:

Currently, more than 100,000 online merchants worldwide accept Bitcoins to pay for their products in their online shops!

Bitcoin formula – the safest, fastest and cheapest payment method for merchants

Bitcoin payments offer Internet merchants a number of advantages and no scam: Bitcoin payments are initially much cheaper than other Internet payment methods such as credit cards or online bank transfers. A further advantage is the payment guarantee: Once a Bitcoin payment has been made, the end customer can no longer reverse it. This means that Bitcoin formula or fraudulent orders are a thing of the past.

In addition, Bitcoin is a payment method available worldwide that allows merchants to tap into customer potential from countries that previously had to be excluded due to lack of payment methods.

However, eCommerce merchants generally offer their own goods and services not in Bitcoin, but in euros or another currency. As a rule, they also have no interest in entering Bitcoins in their accounts.

eCommerce merchants who want to tap into the growth market of Bitcoin customers rely on Bitcoin payment providers to provide them with a module with which they can integrate Bitcoin payment into their online shop without great effort.

Bitcoin payment modules enable merchants to process payments online in real time, without risk and at minimal cost.

Bitcoin Payment Integration using Coinsnap as an example
One of the leading providers of Bitcoin payment modules for eCommerce providers is the Dutch provider Coinsnap.

The Coinsnap Bitcoin payment module can be easily and uncomplicatedly installed by the eCommerce retailer himself or integrated into the shop page by Coinsnap for a small fee.

Coinsnap supports more than 30 popular shop systems, e.g: AceShop, commerce:SEO, CRE loaded, CS-Cart, Drupal Commerce, Gambio, JTL 3, LemonStand, Magento, Mijoshop, modified-shop, OpenCart, osCommerce 2.x, OXID eSales, PrestaShop, SEO:Mercari, Shopware, ShopPro, Ubercart 2.x, Ubercart 3.x, WordPress E-Commerce, WordPress Event Espresso, WordPress JigoShop, WordPress WooCommerce, X-Cart, XoniC, xt:Commerce v 3.x, xt:Commerce 4, Zen Cart etc…

With its decision for Coinsnap, the Internet merchant receives a complete package of software and payment processing to quickly and easily offer Bitcoins as a payment method and to participate in the advantages of Bitcoin and the growing number of users.

PwC study: Blockchain not a priority for German financial sector

Every second German financial manager considers the blockchain technology to be relevant for the future. However, only very few invest. This is the result of a recent study by the consulting firm PwC. The results reveal a clear gap: While more and more financial experts are taking distributed ledger technologies seriously, in Germany comprehensive investments are a long way off. This could have bitter consequences for the German financial sector, as global competitors are investing purposefully in DLTs.

The blockchain continues to dominate the global headlines this year as well. The much-discussed promise: drastic cost savings and groundbreaking transformation potential – especially for the banking and financial sector.

Bankers in particular are confident in the Bitcoin code

The question of mere hype or serious hope for the financial sector tested by onlinebetrug was posed by the consulting firm PwC in its current study on the role of the Bitcoin code blockchain for the financial sector.

To this end, around 300 executives of German banks, insurance companies and asset managers were asked about their expectations and perceptions of blockchain technology, its current adaptation and their assessments of crypto currencies. The results reveal a seemingly contradictory picture: While the blockchain is becoming more and more visible to business leaders, especially in comparison to the previous year, there is currently still a gap in the actual amount of attention paid.

For example, more than half of the managers surveyed rate the blockchain as “relevant to the business”. Furthermore, almost one third of the financial managers estimate that the blockchain will have a strong influence on the financial business in the next ten years. Another two thirds believe that it will influence their business model at least “to a medium extent” in the next ten years.

Almost half of them expect Bitcoin code to be a means of increasing profits in the long term

Financial sector without hurry regarding the crypto currencies a risk and Bitcoin code a scam. Despite the high level of popularity, the industry does not seem to be preparing for any upcoming change of course. Practical conclusions linger on the long bank, there seems to be no need for Bitcoin code action at present.

The study shows that currently only a fraction of the financial sector invests, and that the business is even more rarely focused on technology. Only just under two percent of the banks, insurers and asset managers surveyed stated that they invest budgets of over 100,000 euros in the research and development of DLTs. More than half of them do not invest a cent.

A similar picture is confirmed by a look at the corporate strategy. For almost two thirds of the respondents, the establishment of blockchain solutions is not part of the company’s orientation. Only three percent of the companies state that they are already integrating blockchain solutions into their daily business or planning to do so promptly.

Crypto currencies also experience restraint. 67 percent of the financial service providers surveyed stated that they would “by no means” want to get involved in the field of digital payment alternatives over the next two years. A total of 83 percent even estimate that neither crypto currencies nor ICOs will have a significant impact on their business areas in the next two years. In the past year, these had repeatedly been taken into consideration for their business portfolios, especially by major global banks.

Restraint – Will German companies be left behind?
Thus, this week’s results once again confirm a trend of restraint on the part of German companies. As early as February, a survey conducted by the industry association Bitkom showed that only a fraction of companies were advancing in the adaptation of the technology. Almost half of them had described themselves as laggards in this field.

However, while more and more banks and financial institutions around the world are keeping their eyes firmly on the blockchain and its potential for future market upheaval and pumping large sums into its development, a groundbreaking question arises. Will German companies be left behind by international competition?

Dr. Thomas Schönfeld, head of PwC’s department for blockchain research, is sure of this. Although an initial wait-and-see attitude is understandable, the blockchain will “change the financial industry”.

Before IPO: US punitive tariffs capture Bitmain

As if the bear market were not enough, the US government’s punitive tariffs are now also making life difficult for Chinese crypto-mining manufacturers. The “Trump tariffs” amount to 25 percent and currently affect 800 Chinese products. Among the Chinese crypto mining manufacturers Bitmain, Canaan and Ebang, this regulation hits the industry leader Bitmain hardest.

Bitmain got off to a very good start in the USA. It was only in July that the company opened a branch in Silicon Valley. First, Bitmain did not have to pay taxes on its Antminer S9. However, due to a change in the product classification – instead of a “data processing machine” the US government now classifies it as an “electrical machinery apparatus” – it is now one of the 800 products sanctioned by the US government.

The US customs duties for Bitmain products add up to 27.6 per cent: the 25 per cent penalty duty is supplemented by 2.6 per cent for products in the “electrical machinery apparatus” class.

Bad timing before Bitcoin profit review

Even though customs duties apply to all manufacturers, the South China Morning Post assumes that Bitmain will be the hardest hit like this https://www.geldplus.net/en/bitcoin-profit-review/. Mining, overseas and the Antminer S9 are among Bitmain’s most important business areas. Approximately half of the company’s turnover is generated overseas. With Canaan and Ebang however it is approx. nine and/or four per cent. Furthermore, the sale of the Bitcoin profit review Antminer S9 alone accounts for more than 50 percent of Bitmain’s turnover. The sale of mining-hardware is responsible for 94 percent of the turnover.

This is not good news, especially for the IPO announced in September. Especially since Bitmain has recently been struggling with declining sales anyway. Although an e-mail leaked in August still gave a positive picture. Bitmain is said to have made a profit of 1.1 billion US dollars in the first quarter of this year and, according to Mark Li, senior analyst at Sanford C. Bernstein, a turnover of 1.9 billion. In the second quarter, sales fell to 950 million. In addition, according to Mark Li, Bitmain also faces growing competition from GMOs and Canaan, among others.

Conclusion of the Bitcoin profit scam

The mood in the crypto world is changing says onlinebetrug. Little is left of the euphoria of 2017, when every ICO promised the next “Facebook”. There is even talk of a possible end to the Bitcoin profit scam ICO era. Consolidation is also spreading among the countless crypto funds. At the same time, however, crypto exchanges such as Huobi or Binance are expanding. Furthermore, financial companies worth billions like Fidelity or Goldman Sachs are entering crypto trading. One could speak of a contradiction. But “growing up” sounds more realistic. Unregulated ICOs become regulated STOs. A market full of “royalty-free” crypto exchanges becomes a sustainable crypto economy. And the harsh reality of competition and regulation is facing acting market leaders.

Social Coin Analytics – Which coin is most present on Twitter?

The mood in the social media undoubtedly has an influence on the price of a crypto currency. Accordingly, it can be helpful for investors to capture this mood on a daily basis. Social coin analytics from Iunera can be used as a monitor for Twitter.

On some exchanges it still exists: the Trollbox

In this chat window, those interested in trading can discuss certain crypto currencies, trading tactics and everything else. Anyway, that was the idea.

In fact, in trollboxes you could mostly find trolling and hyping of crypto currencies ranking among distant ones. Pump-and-dump schemes were initiated via the troll boxes, so that quite a few lost a lot of money as a result. No wonder, then, that many crypto exchanges have switched off these trollboxes.

There was a reason for such a shifting, since it was hoped that the attention for a crypto currency would increase. Increased attention, at least with regard to positive news, often precedes a price increase.

Although the question of hen and egg often arises, the reality is somewhat more complex overall, but there is a rough correlation. Accordingly, tracking public sentiment can be an interesting monitor for an investor or trader.

Social Coin Analytics – A Dashboard for the Analysis of Social Activity

Iunera is a company that is completely dedicated to data analysis. In connection with the Bundestag elections, the company became better known with an analysis of the current mood on Twitter. The Bundestag election analysis continues to run. It is interesting – and sometimes questionable – to follow how the seats in the Bundestag would be distributed according to the mention.

Social Coin Analytics by Iunera is a new project of the company. The page of the same name records the current mood regarding a crypto currency on Twitter, so that the number of tweets, the number of tweeters and the mood of the tweets can be viewed over time.

One example is the development of DASH mentions on Twitter compared to Monero, Lisk and Bitcoin Cash:

You can see that on June 24th the number of DASH mentions increased dramatically. In retrospect, it is unfortunately not possible to determine what the reason for this dramatic increase was through social coin analytics. However, DASH’s efforts in Venezuela and a significant increase in the number of transactions around 24 June will have been the reason.

The social activity of the last 24 hours can be used on Social Coin Analytics as a basis for a crypto index. As described elsewhere, a crypto index based on market capitalization is not a perfect measure of actual adoption. In addition to the trading volume, a look at the social presence could be helpful here. As a look at the corresponding top 10 shows, such a ranking is quite different from a ranking based on market capitalization: