Creditbit Discusses Parity & Mist/Ethereum Wallet for Windows users

The Creditbit dev team has been working hard to provide a seamless migration to the community. The platform is almost done with the first round of migration which will end on April 8, 2017. Creditbit has now published an update titled ‘Parity & Mist/Ethereum Wallet for Windows users’ on Bitcoin Talk to explain the step by step the process for all the community members having trouble with Ethereum wallet. The latest update focused on Windows users, while the dev team has already instructed the community on how to install Parity in Geth mode in an earlier post on the same platform.

Creditbit is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software.

Previously the devs have already advised the community to synchronize their Mist/Ethereum Wallets, and to switch to Parity node in case the synchronization is really slow and is taking more than 10 hours.

The latest update elaborates up on Parity & Mist/Ethereum Wallet for Windows users.

First installation:

  1. 
Download Parity for Windows: https://parity.io/parity.html
  2. Download Mist (or Ethereum Wallet), 64bit or 32bit, depends on your Windows: https://github.com/ethereum/mist/release
  3. 
Install Parity, make a shortcut, right-click on the shortcut, change “Target” to: “C:\Program Files\Ethcore\Parity\parity.exe” –geth
  4. 
Optionaly: change port with a switch –dapps-port xxxx where xxxx is a number of port. Use this step if you have problems with other applications.
  5. 
Optionaly: add switch for Parity interface: –force-ui
  6. Run Parity shortcut, Windows Prompt should start and report about synchronized packages. A beeping sound is a good sign.
  7. Install and run Mist (you must do it AFTER you start Parity node, to prevent Geth node to start building its own blockchain)

Problems that can crop up are:

  1. Most common problem is a firewall issue, be sure to enable Parity application on Windows or other firewall and enable port forwarding on your router
.
  2. Interfering with other applications, mostly port issue. This can be dealt with by switching to: –dapps-port 8085
  3. 
Slow synchronization is yet another issue that can arise, for this, at least 4Gb RAM should be available on your computer to process blocks.

Once the first installation is done and over with, it can simply be used by starting Parity shortcut followed by starting Mist.

Earlier the dev team had also clarified to the community that they have reached out to most of the Exchanges and are working on a solution to automatically migrate all CRBIT coins for them. The platform is working on making it easier for the users. This solution will allow the users’ CRBIT coins to be replaced with CRB Tokens easily with no extra effort on their part.

Creditbit dev team is consistent with its updates regarding any new developments on the aforementioned platform and takes serious consideration of any problems faced by the community members, and is diligent with its problem solving.

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Stellar, the cryptocurrency platform with global financial inclusion as its mission has announced the upcoming Bitcoin-Lumen giveaway program. The program that strives to increase the participation of Bitcoin community members in Stellar’s initiatives is not a new thing. The second such program of sorts, the upcoming Bitcoin-Lumen giveaway is scheduled for June 27, 2017.

During this giveaway campaign, the platform will be offering a total of 16 billion lumens to Bitcoin holders, which is 16 % of the initial cryptotokens and anyone who has got bitcoin balance in their wallets can claim lumens equivalent to the total proportion of bitcoins they own.

According to Stellar’s recent blog post, Bitcoin network was the first cryptocurrency platform to offer a glimpse of the extreme potential the cryptocurrencies and their underlying technology has to change the world. Taking a leaf out of Bitcoin’s book, Stellar was co-founded by Jed McCaleb and Joyce Kim. The giveaway signifies the ever-present influence of Bitcoin on Stellar’s future.

The Lumen distribution pattern will be based on the snapshot of the Bitcoin blockchain scheduled to be taken a day in advance. The snapshot will contain the information of the coin balances across all the accounts that are part of the network. The list will be published on the “claims page”, on the day of distribution — June 27, 2017, so that owners of the account/wallet can verify their ownership and receive the allocated lumens into Stellar accounts.

Bitcoin community members can claim their fair share of lumens until August 27, 2017, after which any unclaimed lumens will be allocated to the Stellar operational fund and the Build Challenge. The Bitcoin -Lumen distribution program also has few exchanges like Kraken, BTC38, and Poloniex onboard, allowing them to collect the lumens on behalf of their users for distribution.

In addition to Bitcoin community, even the Ripple community stands to gain from the giveaway. Ripple is one of the leading cryptocurrency platform being used by banking and payment applications. The goals of both Stellar and Ripple aligns to an extent, making XRP hard to ignore. The platform has allocated 1% of initial lumens amounting to 1 billion tokens for XRP users.

There are already few instances where banks and remittance companies are using the platform, but the scale is still lower compared to that of Ethereum and Ripple. The Lumen giveaway program can further promote the use of Stellar among companies and banking institutions to meet their blockchain needs.

Ref & Image: Stellar.org

The mainstream banking and financial industry has been apprehensive about extending support for Bitcoin and other cryptocurrencies due to their independent and pseudonymous nature., The mainstream financial sector is bound by various rules, regulations and compliance requirements that make it hard for them to venture out of the purview of fiat currency. But with the new alliance between Chainalysis — a blockchain analysis firm and Nets- a Denmark-based payments provider may change that.

According to media reports, both Nets and Chainalysis are working together to create a solution that helps banks validate cryptocurrency transactions, in accordance with the necessary compliance requirements. The solution, once implemented might open the doors of Nordic banks to Bitcoin payments and operations while ensuring compliance with the existing regulations. The collaborative effort can potentially benefit over 240 financial institutions in the Nordic region to whom Nets already provides payment services.

The CEO of Chainalysis, Michael Gronager explained the use of its cryptocurrency security solution by saying,

“We can make risk assessments and analyze blockchain activities… And banks are interested in being able to risk-score customers, so they do not end up being used for money laundering …. If a bank’s customer is a risk, the financial institution can choose to send a ‘suspicious transfer report’ to the authorities, which can use our tools to trace and identify the customer.”

Chainalysis is not new to the legal and regulatory environment in Europe as the company has been offering its services to Europol for some time now. The company is responsible for linking digital identities to cryptocurrencies to assist various investigations. The increased focus on cryptocurrency/blockchain security and analysis in Denmark has made it possible for Chainalysis and Nets to extend the high-tech crime-fighting capabilities of the regional organizations further. The head of fraud division at Nets, Kati Rintala said,

“An increasing number of our customers among the Nordic banks have asked for an effective tool to help them comply with legislation.”

Once the technology is implemented, banks will find dealing with Bitcoin as simple and easy as handling cash and other financial instruments that are currently in circulation.

Ref: Pymnts | Image: NewsBTC

That’s another day complete in the bitcoin price, and it’s been a pretty interesting one. In our coverage this morning, we noted that we were looking for any indication of an upside run as long term bullish, and that any such run would fall in line with what we saw overnight.

Well, we didn’t quite get what we’d hoped for, but it wasn’t all bad either. Price basically ran up and down intrarange during the session, and in response, all we’ve got to do for the evening session tonight is widen out our range and set up with a breakout strategy in pretty much exactly the way we did this morning, but with a slightly looser approach.

As we said this morning, simple.

So, as we move into this evening’s session, here’s a look at what we’re going at. Take a look at the five-minute candlestick chart below to get an idea of what’s on before we get into the detail. As usual, it shows the day’s action so far (or at least, that is, the late morning and afternoon action out of Europe) and it’s got out key range overlaid in green.

As the chart illustrates, the slightly widened out range we are using as tonight’s key parameters is defined by support to the downside at 1045, and resistance to the upside at 1062. These levels represent the most recent swing low and swing high respectively, and should serve to give us something to go at if and when we see either of them break.

So, a close above resistance will get us in long towards an immediate upside target of 1075. A stop on the trade at 1057 looks good. Conversely, if we see price close below support, we’ll look to get in to a short entry towards a downside target of 1035.

Charts courtesy of SimpleFX

The correlation between bitcoin and video games has been apparent for some time now. Various companies selling CD keys accept bitcoin payments as of right now. The team behind CRYENGINE, an open-source video game development engine, now accepts bitcoin donations. Another notch in the belt for the popular cryptocurrency, that much is certain.

People who follow the video game industry will have come across the CRYENGINE name before. This particular video game engine is used in the popular FarCry games. Crytek, the company responsible for developing the engine, made their product open source some time ago. Such a powerful technology needed to be made accessible to both large and indie game developers alike. A few years ago, licensing CRYENGINE was rather problematic, which is why Crytek decided to switch things up a bit.

CRYENGINE and Bitcoin Make An Intriguing Pair

Even though anyone can use the engine free of charge, its development and maintenance are still ongoing. Software engineers continue to work on CRYENGINE as we speak, although they are not necessarily getting paid the big bucks for doing so. Instead, they rely on contributions and donations from the gaming community  By offering a royalty-free game development platform to anyone, any donation goes a long way.

It is not entirely surprising to find out bitcoin donations are now accepted. Crytek has been keeping an eye on bitcoin for some time now, by the look of things. Using bitcoin to actively contribute to the development of CRYENGINE is a significant step in the right direction. Crytek mentions how they now accept “the leading cryptocurrency” as part of their “Pay What You Want” business model.

Moreover, the plan is to integrate bitcoin payments across the CRYENGINE platform. This means bitcoin payments will be coming to the built-in marketplace very soon. This is another validation of bitcoin as a popular payment method, both within and outside of the gaming industry. It is the only global currency that can be sued with very little friction. That is, assuming transaction fees don’t go up any more than they have to.

Header image courtesy of Shutterstock

Online casinos and other gambling platforms attract players from all over the world. Especially the platforms accepting bitcoin payments have been thriving as of late. Canada is becoming an important region for online gaming providers, as there is a demand for more payment methods for Canadian online casino players. InstaCasino is making a name for themselves in this particular market as we speak. 

InstaCasino Takes Online Gambling In Canada To The Next Level

It is not hard to see why InstaCasino has quickly become a big name among Canadian players. The site offers a wide range of games, powerful promotions, and a more than a lucrative affiliate program. Its plethora of payment solutions is also worth mentioning, as the casino wants to provide the best possible user experience. It is important to note InstaCasino was launched in 2015 as an effort to bring more payment methods for Canadian online casino players to the ecosystem, and they have certainly succeeded in doing so.

InstaCasino prides itself on making the experience fun, easy, and safe for all users.Combining convenience and fun with the best possible online games and big jackpots make this platform an instant hit. Canadian online gamblers have been looking for alternative platforms, and it appears they have embraced InstaCasino as one of their own very quickly.

Various promotions offered by this platform make InstaCasino an excellent choice for online gambling needs. Additionally, there is a lucrative affiliate program paying up to 40% commission every month. Bringing more players to this platform results in higher commission payouts, which is only to be expected. Keeping in mind how there is a demand for more payment methods for Canadian online casino players, referring people to InstaCasino can become quite the lucrative passive revenue stream.

In the end, it is not hard to see why InstaCasino will become a household name among Canadian gamblers in the future. The platform checks all of the right boxes and focuses on what matters to their clients. A wide range of payment methods for Canadian online casino players will help attract more players as time progresses. Moreover, the affiliate program will create a marketing campaign of its own, as everyone wants to make some passive income through a legitimate company.

Ok, let’s get to it. Here goes another day of trading in the bitcoin price, and with any luck, we’ll see a continuation of the current market’s underlying trend – that is, and upside run. We first saw the signs of price bottoming out during the early session out of Europe yesterday, and then things settled down post run around midday. Our expectations were that – given the sideways action saw, and the consolidation that this sideways action inferred – we would see a breakout one way or the other early evening. We get exactly that breakout, and it turned out to be a bullish one. That’s a nice change from the downside action we’ve seen over the last week or so, and it suggests that there is some real fundamental strength in and around the 1000 flat level right now. Sure, we said this about the 1100 level and it didn’t turn out to be as correct as we might have liked, but there you go. We aren’t perfect.

Anyway, let’s get to the session today, and see what we can carve out of the market as and when price starts to move. As ever, take a quick look at the chart below to get an idea of what’s on and where things stand in the bitcoin price market right now. It’s a five-minute candlestick chart as usual, and it’s got our key range overlaid in green.

As the chart shows, our range for today is defined by support to the downside at 1047 and resistance to the upside at 1057. Breakout only with this one, at least for now. So, long on a close above support towards an immediate upside target of 1067, and short on a close below resistance towards a downside target of 1037.

Pretty simple.

Let’s see what happens.

Charts courtesy of SimpleFX

The Venezuelan government has no love list for people engaging in bitcoin mining. Several arrests have been made over the past year. More recently, two software engineers found themselves in custody for mining bitcoin. Once again, these arrests are labeled as “stealing electricity”. Considering how the government subsidizes most of the electricity in the country, these claims are not entirely false either.

Once again, bitcoin miners find themselves in a pickle in Venezuela. The CICPC arrested two software engineers as a state company based in Lara. Both individuals are charged with computer crimes for mining bitcoin while using state-subsidized electricity. Moreover, two pieces of mining equipment have been confiscated as well. It is not the first time this happens, nor will it be the last.

Based on the information provided by El Impulso, the mining hardware in question consists of Antminer S3 models. These are older generations of bitcoin mining hardware, which draw significant amounts of electricity from the wall. Obtaining more recent versions of this hardware can be quite difficult in Venezuela, though. Bitcoin remains unregulated in the country, yet the government has cracked down on mining activities.

Venezuela Continues To Arrest Bitcoin Enthusiasts

To be more specific, two types of bitcoin activity are frowned upon in Venezuela. First of all, the mining business, which uses state-subsidized electricity. By using up this precious resource, more blackouts may occur across the entire country. For a region struggling with financial hardship, no access to electricity for extended periods is the last thing anyone needs. This does not necessarily mean people “steal” electricity, although it can be classified as such.

Secondly, there is the topic of buying and selling bitcoin mining equipment. Several people have been arrested for engaging in this activity. Although this is not an illegal act, the government wants nothing to do with bitcoin activities in general. They feel people sell bitcoin miners as a way to evade capital controls in Venezuela. So far, those claims have never been proven, though.

Furthermore, the CICPC mentions both detained individuals face charges of stealing electricity. They also used the company’s internet bandwidth to conduct their mining operations. Using state assets for bitcoin mining is frowned upon in the country and that situation will not change anytime soon. Moreover, it is believed both men installed malware on company computers. This has nothing to do with bitcoin mining, though, as they were allegedly after confidential information.

Header image courtesy of Shutterstock

Key Highlights

  • ETH price struggled and breached the $49.80 support area against the US Dollar.
  • Yesterday’s highlighted bullish trend line with support at $49.90 was broken on the hourly chart (ETH/USD, data feed via SimpleFX).
  • On the upside, the connecting bearish trend line is acting as a strong resistance near $49.80.

Ethereum price moved down below $49.80 against the US Dollar, and now ETH/USD looks poised to extend the decline in the short term.

Ethereum Price Resistance

There was a slight increase in the bearish pressure on ETH price, as it moved below $50.20 against the US Dollar. The price struggled and extended losses below $50. The most important break was below yesterday’s highlighted bullish trend line with support at $49.90 on the hourly chart (ETH/USD, data feed via SimpleFX). It prompted a move below the 38.2% Fib retracement level of the last wave from the $42.10 low to $53.69 high.

Later, the price traded close to the $48 handle and moved with a bearish structure. However, the 50% Fib retracement level of the last wave from the $42.10 low to $53.69 high managed to hold the downside. A major point to note here is the fact that the 100 hourly simple moving average is ignored near $48.80. The price is flirting with it and there is no close. On the upside, yesterday’s pointed connecting bearish trend line is now proving to be a strong resistance near $49. If the price continues to move higher, it could face sellers near $49.60.

Ethereum Price Technical Analysis ETH

On the downside, a close below $48 could be a negative sign and might prompt more declines. The next support would be near the 61.8% Fib retracement level of the last wave from the $42.10 low to $53.69 high at $46.50.

Hourly MACD – The MACD is back in the bearish zone.

Hourly RSI – The RSI is struggling to move back above the 50 level.

Major Support Level – $48.00

Major Resistance Level – $49.60

 

Charts courtesy – SimpleFX

Key Highlights

  • Dash price moved further lower and broke the $90 support against the US Dollar.
  • Yesterday’s highlighted descending channel pattern with support at $90 on the hourly chart of DASH/USD (data feed from Poloniex) was broken.
  • The broken support at $90 might now act as a resistance if the price moves higher.

Dash price (DigitalCash) is under bearish pressure against the US Dollar, and it looks like DASH/USD might now extend declines towards $70.

Dash Price Bearish

It was a bad day for Dash price, as it moved down further below the $90 level against the US Dollar. The lower low pattern mentioned yesterday played well, and as a result, there was a move below $88. The price broke the last swing low to ignite more downside. There was even a break below the $80 level, and a new low was formed at $75.45 for the current week. The price is clearly under pressure, and current correction above $80 could face sellers in the near term.

The most important break was below yesterday’s highlighted descending channel pattern with support at $90 on the hourly chart of DASH/USD (data feed from Poloniex). It prompted a decline towards $80. Later, sellers gained momentum, and pushed the price below $80 for a move towards $75. The price is currently correcting from the $75 low. It already moved above the 23.6% Fib retracement level of the last decline from the $107.2 high to $75.45 low.

Dash Price Technical Analysis  DigitalCash

However, there is no proper close above $85, as the price is struggling to clear the broken channel support. It is now acting as a resistance and preventing gains above $88. Overall, the price might struggle to move above $90, and might move down again.

Looking at the indicators:

Hourly MACD – The MACD for DASH/USD is slightly in the bullish zone, but struggling.

Hourly RSI – The RSI for DASH/USD is well below the 50 level.

Intraday Support Level – $80

Intraday Resistance Level – $90

 

Charts from Poloniex; hosted by Trading View