Gemini Exchange Fails to Achieve High Trading Rates

The Gemini Exchange in New York has taken a rocky path over the years. Thus far, trading patterns enjoyed by Gemini have been nothing to brag about (although this weekend hit esteemed marks with about 1400 bitcoins traded within a two-day period). The company recently announced the addition of daily bitcoin auctions to try and increase digital currency awareness, but they have done very little to get the ball rolling.

The company has made headway since it first arrived at the scene. Recently, news was announced that Gemini would expand its services to both Japan and South Korea, while at the same time a new exchange is underway in the regions of both Hong Kong and Singapore. There’s been a lot on the company’s plate, and Harvard alumni Cameron and Tyler Winklevoss seemed capable enough, but when trading has failed to reach the heights bitcoin-enthusiasts were hoping for, someone’s going to raise an eyebrow here and there.

Perhaps all that may change with Gemini’s new series of APIs for automated traders. The APIs will grant users the opportunity to connect through REST, WebSockets and FIX APIs, while potentially offering private order statuses to these users and inspiring easier access to trading along the way.

In a statement, the company boldly proclaims:

“This should prove to be much more efficient than the REST protocol for all of our automated traders, since order status updates and other events are pushed to you rather than requiring you to continually poll for updates.”

At the present time, it is unclear what accounts for the lack of trading on Gemini, though regulation has been suggested as a possible candidate. Either way, the notion of trading through the site has not struck a particularly positive chord, and this will need to change quickly if Gemini is going to push its customer base up.

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Another day done in our bitcoin price trading operations, and it’s been a pretty interesting one. This morning we noted that we hadn’t seen too much volatility early week, and that in the absence of this volatility, getting in and out of the markets has been a little tough. We also noted, however, that this isn’t necessarily a bad thing. It’s a bit frustrating (things are far more exciting when we’re chasing a profit target) but it means we aren’t looking at any losses, and pretty much every time we run through a period of down time we get more than enough opportunity to get back in to the markets shortly thereafter.

Well, the European session today has started to pick up, and we’ve managed to proved the above theory once again.

We got in long on some solid upside action, and in doing so, drew a decent profit from the market on the volatility served up.

Now, as we head into the late session, tonight, let’s see if we get more of the same, and more importantly, if we can take advantage of it and pull more profit out of the market.

Take a look at the chart below to get an idea of what’s on.

As the chart shows, the range in focus for this late evening session is defined by in term support to the downside at 718 flat, and in term resistance to the upside at 722 flat. This is a super tight range, so we’re definitely just going after breakout scalp trades for the time being.

Specifically, if we see price break through in term resistance to the upside, we will get in long towards an immediate upside target of 726. Conversely, a close below support will put us short towards 713. Stops just the other side of entry (around two dollars either side) will ensure we are taken out of the trade in the event of a bias reversal.

Charts courtesy of SimpleFX

Bitcoin’s underlying blockchain technology is making inroads into every industry sector possible. The energy sector is one such industry which may soon see a widespread adoption. According to reports, a survey conducted by the Deutsche Energie- Agentur (German Energy Agency) and ESMT Berlin has indicated that many energy companies already have a blockchain technology roadmap in place for future implementation.

The survey included responses from about 70 executives serving with multiple firms in the energy sector. Over 39 percent of the respondents have divulged that their companies have plans to incorporate distributed ledger technology into their operations in the future. Another 13 percent believe that their companies have blockchain technology based applications ready and they are already or may soon start using it.

The transparent and immutable nature of blockchain technology makes it a favorable alternative to existing record keeping and compliance processes. The ease of making payment using cryptocurrencies is also an added advantage which can be leveraged by the energy sector by implementing blockchain technology into their operations. Many respondents were convinced about the disruptive nature of cryptocurrency technology when it comes to smart contracts and record maintenance. Over 60 percent of the respondents from the German energy sector believe that the blockchain technology will further proliferate into the industry.

The use of blockchain technology and cryptocurrencies in the energy sector is not a new thing either. Companies like Transactive Grid and Sun Exchange are already working on the inclusion of cryptocurrencies in various capacities. Transactive Grid is a New York-based startup that has created a blockchain based microgrid to enable peer to peer transaction of energy. On the other hand, Sun Exchange offers Bitcoin-based crowd lending solution where people can invest in solar projects both locally and globally.

In the coming years, we can expect the blockchain technology to have a more prominent role in the energy sector where all electrical connections are registered on the blockchain along with consumption data and other statistics. Users may as well be able to make payments with Bitcoin and other digital currencies. Even though one can never be sure about whether it will turn into a reality or not, it is definitely worth waiting for.

Ref: Contra Magazin | ImageDAVID ILIFF (License: CC-BY-SA 3.0)


The Ethereum based gaming platform vDice has announced the highly successful launch of its fundraising campaign through the recently launched ICO.

The campaign, which went live today, has so far been better than expected – with the ICO attracting over $ 1 million (US) in less than 90 minutes. Today’s success will allow vDice to be counted as one of the best-performing ICOs in the cryptocurrency sector.

vDice is one of the very few Ethereum-based gaming platforms at the moment. Unlike other cryptocurrency gambling platforms, vDice doesn’t require the gamers to register or create an account for themselves. In order to play on vDice, all one has to do is send the cryptocurrency to a wallet on the platform – which belongs to the user itself – and try the luck.

The super-fast platform takes as less as 15-35 seconds to place a bet. However, vDice has a minimum and maximum available bet amounts fixed. With the launch of its ICO campaign, it has become the first profit-sharing cryptocurrency casino. The crypto-tokens for vDice ICO, known as vSlice allows its holders to earn a share of profits from the vDice games. It can also be traded for other digital currencies in the near future as vSlice becomes available on some of the leading cryptocurrency exchanges and trading platforms.

Going by the initial success of the on-going ICO, all the vSlice tokens may get over in the next few days. The token supply is limited to 96 million, and those who buy vSlice on the first days, stand to gain a lot in the near future in terms of payouts and profit sharing.

Investors can buy vSlice tokens by investing ether during the month-long vDice ICO. All the funds raised during the ICO will be used for further development of the platform. a detailed whitepaper and development roadmap is already available on the vDice ICO web page.

Those interested in investing in vDice can do so right now on the platform’s ICO page.

Force of Will is a new blockchain-based trading card game attracting a lot of attention. Similarly to how Spells of Genesis came into the world, the game will be released in several stages. Additionally, a sale of in-game currency will commence later this November. All of the in-game items are to be issued on the blockchain over the Counterparty protocol.

Some people may be familiar with Force of Will, as the game has been around for some time. With over 100,000 active players worldwide, it is difficult to ignore its success. Ever since the team noticed the success of Spells of Genesis, a decision was made to issue digital game items as blockchain assets.

All of the Force of Will digital cards issued as tokens will be issued through Counterparty. This system makes use of the Bitcoin blockchain, allowing assets to be freely transferred in real time. Project ORB, which was pioneered by Spells of Genesis, will be embraced by FoW as well.

Force of Will Token Sale Details Revealed

All of the FoW ORBs will become playable on the game’s Battle Simulator. This process will commence one the team’s WILLCOIN sale kicks off later this month. Depending on a player’s ORB holdings, the visual effect of their cards will be enhanced. Additionally, holding more ORBs makes players stand out from the rest of the community.

Keeping in mind how FoW orbs can be accessed in Spells of Genesis, the concept holds a lot of merit for players of both games. This also makes FoW ORBs the first-ever large-scale cross-game promotion. It is expected other blockchain-based games will follow this lead by example in the coming years.

As mentioned earlier, the WILLCOIN sale will take place later this month. The entire coin supply is issued as Counterparty tokens. Users who “burn” WILLCOIN will receive 1 FoW ORB at random. The currency is also usable to exchange currency for FoW ORB trading on the mobile app. Existing Force of Will players will be able to convert their loyalty points to WILLCOIN in the future.

Come November 28; the WILLCOIN token will commence, and run until December 22nd. A total of 20,000 WILLCOIN is made available for purchase, and four different batches of coins will be available to players and investors. Purchasing tokens can be done through a Tokenly Swapbot, with more information to be released in the coming weeks.

Header image courtesy of Force of Will

Austrian finance watchdog Financial Market Authority (FMA) is a bit late to the game. The regulatory body has issued a warning against the use of virtual currencies, including Bitcoin. The latest warning is similar to the words of caution used by various central banks and government institutions across the world. While rest of the regulatory and governance bodies issued the warning way back in 2014, FMA has decided to do at a time when Bitcoin is gaining popularity among masses.

The warning, however, is in response to rising incidents crypto-frauds, especially the high yield investment schemes. The FMA’s recent statement advises extreme caution while dealing with virtual currencies and investment models built around them. As the virtual currency sector is unregulated and unsupervised, investors are vulnerable to abuse and fraud. It also means that the investors are not eligible to receive any compensation for damages or losses incurred from investing in virtual currency-based schemes.

There are many instances where people have fallen prey to Bitcoin-related pyramid scams and Ponzi schemes. MMM Global, run by notorious Sergei Mavrodi is one such scam at a global level where investors, in spite of knowing the history of the company, have deposited their earnings – only to lose it.

It is not just the FMA which is currently investigating these investment schemes within Austria. The good samaritans within the Austrian Bitcoin community is also spreading awareness about fraudulent investment schemes.

FMA, jointly with the public prosecutor is currently evaluating the business models of cryptocurrency investment schemes to determine whether they constitute a criminal offense.

It is always advisable for potential investors to do a thorough research about the investment schemes by reading reviews and even enquiring about it within the local cryptocurrency community before investing. Also, the schemes which are too good to be true are generally scams and it serves better to stay away from them.

Ref: Tiroler Tageszeitung | Image: Shutterstock

So let’s get things kicked off this morning. The week has been slow so far and we’ve not had too much action to go at. This isn’t too much of a big deal, as we’re still riding the wave of last week’s gains, and we don’t want to rush in to any trades and get chopped out of the markets prematurely. Last night we noted that the choppy action was a bit of a concern, given that price had trended pretty flat (albeit with a slight downside bias) throughout the afternoon session, and that the low volume might make for choppy waters.

Things were a little up and down, and we didn’t manage to get in on any succesfull trades, so we’re net flat heading into the markets as we move forward.

So, with this in mind, let’s take a look at the levels in focus.

Take a look at the chart below to get an idea of what’s on, and we’ll move forward into some specifics. As ever, it’s a five minute chart with our range overlaid.

screen-shot-2016-11-15-at-12-10-09As the chart shows, the range I focus is defined by in term support to the downside at 713, and in term resistance to the upside at 719. These levels are a little tight for an intrarange approach, so we’re going to go at things with a breakout strategy only.

Specifically, if we see price break through in term support, we are going to look for a close below this level to validate an immediate downside entry towards a target of 708. A stop on the position at 715 controls risk on the trade.

Conversely, a close above resistance will put us long towards 726. Again we need a stop loss (do we ever not?) and we’re looking at 717 to define our downside.

Let’s see how things play out.

Happy trading!

Charts courtesy of SimpleFX

Bitcoin enthusiasts are familiar with the name Liberland. This unclaimed piece of land between Croatia and Serbia turned into the Free Republic of Liberland. The country’s first President, Vit Jedlicka, finds himself in a bit of a pickle right now. Due to ongoing issues with Croatan Police, president Jedlicka is incapable of setting foot on his would-be republic.

The name Liberland gained mainstream media attention a few months ago. Not only is this free republic rather unique, but the region is also only 2.5 square miles large. But the most important aspect is how Bitcoin is the national currency of this nation, rather than traditional currencies. A bold plan was set in motion by Vit Jedlicka and his team, but there are several roadblocks along the way.

Accessing Liberland Is Virtually Impossible Right Now

Even though the area we now call Liberland is unclaimed territory, Croatian police are very protective of it. Accessing the soil of this new republic requires a boat trip over the Danube, which is freely accessible. However, setting foot on Liberland will lead to visitors being arrested by Croatian police officials. It is not the first time the police stops people visiting the new republic either.

Despite this setback, the popularity of Liberland continues to grow. Close to half a million people have requested citizenship, and several libertarian donors contribute to the cause. However, despite this global support, no one has occupied the new republic in over a year due to conflicts.

Contrary to what people may assume, the Liberland concept is as bona fide as it gets. The region is unclaimed territory, meaning there is no ownership over it right now. What seems to be the key issue is how Liberland would have no gun control. Neither Croatia nor Serbia is too happy with that outlook, which is why they prevent people from accessing the premises.

The plot thickens, as Vit Jedlicka is involved in a court case over the “legality” of his new republic. If Croatia wants to fine him for trespassing, it implies an international border present. However, that would also validate this unclaimed territory as “up for grabs”. As a result, Liberland would be officially recognised as a free republic.

It is evident this new free republic needs to be supported at all costs. Countries who want nothing to do with a specific stretch of land cannot arrest people from accessing it. Unless they do something illegal, that is. But for now, the idea of a free republic where Bitcoin is the only currency is still viable.

Header image courtesy of Shutterstock

A recipe is usually termed as a set of instructions for preparing a thing, mostly food. But in online trading, there are no such thing as rules. There are, of course, factors that have to be narrowed-in every time before placing a trade. But even they are not recipes to make profit from. Therefore, a trading-based recipe must be more dynamic — something that changes its style according to the market situation.

When 70Trades had decided to enter the online trading scenario, its first and foremost aim as an online brokerage firm was to simplify trading for novices. The Vanuatu-based company accordingly researched and found that it takes a trader a maximum of 70 trades to register his/her first profit. It not only adopted the name, but also emerged as one true partner for traders who want to reduce market risk while making those 70 first trades — that’s the core 70Trades theory.

70Trades today stands as one of best reviewed trading platforms (read 70Trades review), especially for its impeccable assistance to novices and professionals alike. It would be safe to say that it is the only online brokerage firm that helps traders balancing their psychology during a profit/loss trade.

“This is very important,” states 70Trades, “especially when you start trading with a difficult emotional situation, because if you are not calmed after a trade that has not been successful, this can automatically lead to an impact on your next trading operation.”

70Trades recipe further preaches the practice of money management and stop loss placement among traders. While the former strategy helps one manage his/her capital efficiently and spread risks among positions, the latter simply allows the brokers to close open positions early in order to avoid a volatile outcome.

And indeed, their trading platform does offer a wide variety of trading assets. It helps traders by allowing them to spread their portfolio, as well as the risks, on the sideways. These are the financial trading products that are available at 70Trades:


There are currently 180 national currencies that are recognised as legal tender by the United Nations. Like any other asset, the value of these currencies fluctuate against one another, in response to government’s and central bank’s policies. And it is only these fluctuations that contribute to the possibility of having a forex exchange trading industry.

70Trades offers the most in-demand currency pairs to trade on, including EURUSD, USDJPY, etc.


Commodities represent traceable goods such as Gold, Copper, Silver, etc. 70Trades doesn’t actually allow traders to purchase these otherwise purchasable goods; but it certainly offers a smooth experience when it comes to speculating on their market values.


Like commodities, 70Trades allows traders to speculate on the fluctuations of stocks. The trading platform currently lists stocks of Apple, Facebook, Walt Disney, Citigroup, General Electric, Google and many leading companies.


Indices represents the value of publicly-traded companies, including CAC40, S&P 500, FTSE 100, IBEX 35, NIKKEI, DOW JONES and others. 70Trades has included them all in its portfolio.

Melonport, a Swiss company has announced the upcoming launch of its Melon software for crypto-asset managers in partnership with Dr. Gavin Wood. The one of a kind platform is built on the revolutionary Polkadot multi-chain network created by the former Chief Technology Officer of Ethereum Platform.

Dr. Gavin Wood, apart from being one of the leading names behind Ethereum network is also the founder of EthCore, also known as Parity. The Polkadot multi-chain framework is designed to support a variety of blockchains without hassles as long as they conform to certain specifications. With Melon, cryptocurrency portfolio managers are offered a secure, user-friendly access to the decentralized blockchain infrastructure that allows them to manage and invest in crypto-portfolios similar to that of conventional hedge funds.

Melon uses a modular infrastructure with certain rule sets that governs the operation of crypto assets on the platform. The infrastructure of Melon is designed in a way to allow opinion on important information aspects like price feed sources, exchanges, management fees and more. Being a blockchain based system dealing with cryptocurrencies, Melon offers unprecedented transparency to various asset management roles like setting up and managing portfolios, creating and building up on the track records and more, all on the blockchain.

The Melon software, powered by Polkadot multi-chain network is initially focused on catering to individuals with extended support for open chains and enterprise chains. Melonport has made the whole source code of Melon open source, with all the relevant codes available on the company’s GitHub account.

Founded by Reto Trinkler and Mona El Isa, Melonport’s Melon software will come in handy for the traditional asset managers who are interested in expanding their portfolio by including crypto-assets alongside traditional ones.  As the company continues to develop the software, they have plans to start a crowdfunding campaign to raise required funds through an ICO. The ICO involving Melon tokens is expected to go live by the end of November 2016.

The feature rich platform is expected to play a key role in promoting the use of cryptocurrency as a mainstream financial and investment asset in the near future. The adoption will not only increase the importance of cryptocurrencies in the current financial ecosystem but it will also get those who have never used cryptocurrencies to add them into their existing investment portfolios.

Ref: Press Release | Image: Melonport