North Korea Stole Bitcoins from the South, Truth or Propaganda?

Bitcoin is the most valuable cryptocurrency of all times. The first cryptocurrency has always been leading the pack of altcoins, irrespective of how low or high its price has fluctuated. At the same time, the universal decentralized nature of Bitcoin makes it an ideal asset for people, irrespective of their geographical location. This very feature could have driven North Korean hackers to steal the digital currency from their neighboring country during 2013 and 2015.

According to the South Korean news outlet — Yonhap News Agency, the country’s cryptocurrency exchanges were continuously drained out of about $88,000 equivalent to 100 million Korean won in Bitcoin on a monthly basis. The alleged involvement of North Korean hackers was mentioned to the media by Choi Sang-myong, a senior official at Hauri Inc., a cyber security firm.

Choi doesn’t dwell too deep into how the hackers managed to steal millions of dollars’ worth of Bitcoin. However, it is all said to have started after South Korea decided to shut down operations at a joint industrial zone at Kaesong — one of North Korean border city back in 2013. He was quoted by the media outlet saying,

“After that, they were confirmed to have secured more than 100 million won in bitcoin every month… Cyber criminals have turned to bitcoin for money as it is very difficult to track them down. Since tracking down the culprits is very difficult, North Korea had jumped on the bandwagon of bitcoin extortion since around 2012.”

The alleged involvement of North Korea in hacking incidents is not a new thing. Among these events include a recent theft of money from the accounts belonging to the Central Bank of Bangladesh. As hackers continue to look for green pastures to make a quick buck, the interest in Bitcoin among them is said to have waned in the past couple of years.

It is not sure whether the hackers in question are individuals acting in their own capacity or state-sponsored actors. But, in the current sanctions riddled situation, North Korea may as well be exploring other alternative options for conducting cross-border transactions.

However, with the latest blockchain analysis tools, it shouldn’t be hard to find out if North Korea is indeed indulged in the use of Bitcoin for domestic and international transactions.

Ref: Yonhap News | Image: NewsBTC

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Bitcoin Price Key Highlights

  • Bitcoin price made a huge gap down just recently, signaling that bears are taking over.
  • This could mean more losses for bitcoin price, although the gap could still be filled before this happens.
  • Technical indicators are giving mixed signals at the moment.

Bitcoin price made a large gap down, possibly indicating profit-taking off the recent highs heading up to the Holy Week holidays.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. In other words, the rally is more likely to resume than to reverse. In addition, the moving averages could hold as near-term support around the $1100 area of interest.

Stochastic has turned down from the overbought area to indicate that sellers are on top of their game and ready to push for more losses. RSI is also on its way south so bitcoin price might follow suit. If selling pressure is strong enough, a break below $1100 could force a steeper decline to the next long-term support around $900.

Market Events

Recent reports revealed that lawmakers in Washington are almost done with their bill for bitcoin regulation that could lead some cryptocurrency-focused startups to think twice about operating in the state on worries of strict oversight. Bitcoin exchanges like Bitfinex, Bitstamp and Poloniex are operating in the state, with the latter exiting Washington a few days back.

The bill states that “A licensee transmitting virtual currencies must hold like-kind virtual currencies of the same volume as that held by the licensee but which is obligated to consumers in lieu of the permissible investments required in of this subsection.” Additional requirements could include mandatory third-party cybersecurity audits of “all electronic information and data systems.”

But while these moves appear to be discouraging some firms in the US, the prospect of government regulation in Russia and the recent acceptance in Japan has proven positive for the cryptocurrency.

Charts from SimpleFX

So that’s another day done for our bitcoin price trading, and what a day it’s been. This morning we noted that we might see some sideways action heading into the weekend, and that the low volume that should come about on the back of the Easter break in Europe and the US would likely keep things muted, if not a little bit choppy.

How wrong we were.

Shortly after we put out our first analysis, the bitcoin price collapsed, and broke through the 1200 level that we had slated as potentially serving as long term support for the market. It then continued to drop, and fell as low as 1140 on the intraday charts before correcting a little bit on the bounce to trade in and around current levels of 1160.

We’re going to use these levels going into tonight’s session. On the bright side, and as a quick note before we get to the detail, we actually managed to pull a quick profit from the market on the initial break. After that, however, things left us behind.

So, with that noted, let’s get to the real stuff.

As ever, take a look at the chart below before we kick things off. With action as it has been today, we’re going to widen our timeframe out to the fifteen-minute chart (as opposed to our standard five-minute chart) and this has the impact of a wider range than normal.

Our range, then, comes in at 1140 to the downside (above mentioned lows) and 1165 to the upside. If we see price break to the upside and close above resistance, we’ll be in long towards an upside target of 1175. Conversely, a close below support, in line with the overarching momentum, will put us in short towards 1130.

Stops, as ever, just the other sides of the entries to define risk.

Charts courtesy of TradingView

Financial experts would have noticed the US Dollar’s strong run. Ever since President  Trump got elected, the value of the US Dollar has been growing significantly. Unfortunately, it appears this is doing the currency more harm than good. President Trump even called the US Dollar “too strong”, which immediately caused the exchange rate to plummet.

President Trump Causes 0.7% USD Dip

It is evident national currencies can become too strong for their own good. A high US Dollar value means other countries are less likely to buy US goods and services. President Trump acknowledges this problem and publicly commented on how the dollar is growing “too strong”. In the long run, a booming US Dollar will only cause financial instability.  Then again, publicly criticizing the currency may not have been the best course of action either.

Ever since President Trump made those remarks, the US Dollar took a serious beating. It was only a matter of time, though. The USD hit a 13-year high not too long ago. Maintaining such positive momentum without repercussions is virtually impossible these days. Moreover, most international currencies are losing value, which will only hurt global trade affairs in the end.  China has been weakening the Yuan on purpose for quite some time.

However, Trump has no plans to label China as a currency manipulator just yet. It appears this change of heart occurred after meeting with President Xi. However, that doesn’t mean China isn’t manipulating its national currency, though. For the time being, Trump is concerned about strengthening relations with the country. After all, China and Russia have been in cahoots for some time as well, which may lead to them turning against the West altogether.

For the time being, it remains to be seen what will happen to the US Dollar. Weakening the currency would be quite difficult, to say the least. Public criticism by the president will help in this regard, although that was never the intention in the first place. Unless the US Dollar weakens significantly, most countries will not look forward to trading with the US anytime soon. A very uneasy situation, that much is certain. So far, the 0.7% value drop may only be the beginning of what is yet to come.

Header image courtesy of Shutterstock

The emerging leader in the global cryptocurrency market, DASH has added another feather to its cap. One of the fastest growing cryptocurrency, both regarding technology and usage is now available to a wider European community on Kraken cryptocurrency trading and exchange platform. The news about the inclusion of DASH to Kraken’s list of currencies was announced yesterday in a press release.

In the recent days, the team behind DASH cryptocurrency have been pushing for strong strategic partnerships with some of the leading players in the market. These strategic alliances follow technological advancements with DASH cryptocurrency platform as well. Since the latest update, DASH has been working on positioning itself as the leading cryptocurrency for payment and fund transfer applications. The company intends to make it a reality with the upcoming Project Evolution update.

The listing on Kraken Digital Asset Exchange enables the platform’s users to trade DASH/EUR, DASH/USD, and DASH/BTC pairs. In the press release, the VP of Business Development at DASH, Daniel Diaz was quoted saying,

“As the leading exchange in the Euro market, Kraken’s global reach helps Dash successfully meet the needs of our users and investors. The entire integration experience was very positive and we have high expectations for the partnership going forward. This is a significant achievement for Dash because our ecosystem needs high quality and trustworthy exchanges like Kraken to thrive, and we know they will play an important role as a fiat gateway.”

DASH currently commands the fifth position among cryptocurrencies in terms of market capitalization. The digital currency, with a price hovering at around $70 has a market cap of over $509 million. With more users joining the community on a daily basis, the value of DASH is expected to grow further in the coming days.

Following the listing on Kraken, the trade volumes will soon see further increase as the digital asset exchange platform intends to introduce Margin trading soon.

Ref: Kraken | Image: NewsBTC

Let’s get going for the Thursday session out of Europe. Before we get into the detail, there’s a good chance that we’re going to see a lull in volume over the next few days. It’s the Easter break in Europe and the US, and the majority of the traditional financial asset markets shut down midday today (or at least, afternoon EST) and then don’t reopen until Monday, or in some cases, Tuesday. Action isn’t going to be hugely affected (at least, that is, not in comparison to some of the more established assets) but we will probably see a couple of things – first, lots of sideways action, and second, when we do get a breakout, we expect it to be very spikey. Quick, low margin, in and out trades are the order of the day for the next few sessions, and that’s what we’re going to go for.

So, that out of the way, let’s try and get some of our key levels outlined for the European afternoon, and see if we can get things off to a good start for the day. As ever, take a quick look at the chart below to get an idea what’s on, and of what happened throughout the early morning session in Europe to bring us to current levels. It’s a five-minute chart (our favorite) and it’s got our key range overlaid in green.

As the chart shows, the range we’re going at this afternoon is defined by support to the downside at 1225, and resistance to the upside at 1234. We’re going to look at getting into a long trade if price closes above resistance, with an immediate upside target of 1245. Conversely, if we see price close below support, we’re going to get in short on a bearish trade towards 1210.

Charts courtesy of SimpleFX

PlayBitcoinGames.com offers players a coherent experience through simplified processes, a generous reward system, and big payouts.

The Costa Rican online Bitcoin casino platform offers players a streamline unique betting experience. Through a simple registration process, one can experience low fee structure, exciting bonuses, attractive referral commissions, affiliate rewards and provably fair gaming option.

PlayBitcoinGames also offers dodge of instant cash-outs and a special affiliate program where earning commissions on all bets made by referred players is propounded. Once the request is placed Players will receive the instant cashouts/bitcoin cash-outs or withdrawals in their Bitcoin wallets.

Signing Up For The Eloquent Experience

Once users sign up on the platform, the one-step email verification registration process enables to start playing with the title of their verdict and easily make a bitcoin deposit. Post registration on the platform, users will receive a password over email for their account. The default password can then be changed after logging into the platform.

There is no boundation in depositing on the platform. While there are no deposit limits or fees, there is a minimum and maximum limit of US$1.00 and US$1,000 per cash-out respectively. However,the Bitcoin withdrawal comes with a small 1% surcharge. PlayBitcoinGames supports Litecoin and Bitcoin simultaneously.

PlayBitcoinGames and Its Omnifarious Games

PlayBitcoinGames has a huge list of game titles across different genre. Recently , a subsequent increase in miscellaneous  games have been done. The games dwell in different game categories: Table/Card , Slots , Random Numbers ,Jackpot, Scratch, Skill

Casino classics like roulette, poker, and slots. Users on PlayBitcoinGames finds eccentric titles like coin flip, scratch games, and even rock-paper-scissors and can expect new titles to appear on a regular basis.

The cryptographic hash function

The Bitcoin casino platform uses MD5 hash encrypted results, shown before every activity in order to offer 100% provably fair gameplay. Platforms are transparent to their users and do not fiddle with any player’s decision. The cryptographic hash function means that the results of games are randomly generated and pre-generated before the games commence. PlayBitcoinGames also provides 24/7, real-time chat support for any questions or issues players may encounter.

Affiliate Rewards

PlayBitcoinGames offers a generous affiliate rewards program that grants players bonuses for referring others, in the form of a percentage bonus on all bets placed by the referred player. Affiliate rewards range from 0.1% for games like ‘9 out of 10’, to 1% for games like Keno.Every hour the referral commissions are integrated and paid to the beneficiary.

Big Bonuses

Unflagging bonuses , a chance to collect big wins and maximize playing time are a few charter for PlayBitcoinGames’s players. To become eligible for bonuses, players must simply opt-in while making their deposit and wait for the bonus to materialize in their account.

All bonuses imitate real funds and can be used instantly, with no limitations to the number of bonuses one player can receive. Players start with a multiplier bonus of x35 for their first deposit and then x30, x25, and 20x for their second, third and fourth deposits respectively.

BitHub.Africa, an accelerant of Bitcoin has announced The African Blockchain Opportunity crowdsale campaign to foster region’s cryptocurrency ecosystem.

Nairobi-based blockchain accelerator BitHub.Africa’s crowdsale will offer crypto-currency enthusiasts a chance to buy an Ebook worth $29.99 dwelling extensive reports on the top 16 most suitable blockchain platforms for 2017. BitHub.Africa’s new incubator and partner hubs across Africa will capitalizes their activities  using the revenue generated by Ebook sales.

The continent has been leapfrogging and has been seeing a growing number of mobile money platforms like M-Pesa, that enable digital transactions using fiat currencies, faster then any other country across globe. The ratification of mobile money platforms like M-Pesa has opened up endless possibility for cryptocurrency based applications in the financial sector. The continent currently embellishing blockchain technology market in the world, BitHub.Africa aims to be at the forefront of the digital revolution sweeping across the youthful continent.

Acknowledgement of BitHub.Africa

The blockchain opportunity report shows divination of emerging blockchain technologies that are offering interesting solutions to many challenges across Africa.

In The Blockchain Opportunity Report, BitHub.Africa has effectively reviewed 16 cryptocurrencies and blockchain platforms that are believed to muck up existing incumbents across key sectors like finance, technology, and commerce. With Africa’s most prominent Bitcoin revivalist  Alakanani Itireleng’s in her exordium stated that, the report will be most beneficial to blockchain entrepreneurs, investors, researchers, and enthusiasts.

Omiting traditional centralized banking and payment systems in developing world, people are beginning to feel the benefits of decentralized currency through increased adoption of mobile and internet-based blockchain technology. African nations are hastening with this trend to create an assuring atmosphere for crypto-currency and blockchain initiatives. The Blockchain Opportunity Report has achieved great reception among the peers in cryptocurrency and blockchain industry.

Max Kordek, Founder and CEO of Lisk stated that BitHub Africa’s blockchain opportunity report maneuver towards a broader market adoption of blockchain technology in Africa. Lisk is right in the middle of this movement strengthening the local communities with the Lisk ecosystem.

The Head of Partnerships at Coinbase, Kristine Stone said,

“The Blockchain Opportunity is a clear picture of the disruptive solutions at the fingertips of Africa. Evaluating trends and data John provides a holistic view of opportunities and challenges blockchain technology will face. In this stimulating book, the reader is provided a window into how blockchain will change the way we live not only in Africa, but the world at large.”

Alternative Currencies Vs Crypto Currencies in Africa

In Africa, on one hand where alternative currencies are aptitude in creating efficiency, on other hand  it is disrupting conventional mechanisms for international trade, resource management, and governance. An exponential growth in the adoption of new blockchain technologies and innovations would combat issues of high transaction cost which is caused due to weak infrastructure, mismanagement,growing inflation and corruption.

In the past eight years since origination of Bitcoin in year 2009 , crypto-currencies have ponder largely. Now the market is flooded with new crypto-currencies, with many that offer little more than to make quick returns from investors while offering nothing in return. BitHub.Africa’s comprehensive report is a result of strenuous research and analysis of dozens of crypto-currency platforms. Crypto-currency businesses and enthusiasts identifies those offering unique value propositions or innovative solutions to meet the society’s needs while solving existing social and economic problems.

 

Microsoft has always kept a close eye on advancements made in blockchain technology. Stampery, a service used to certify and verify documents, is of keen interest to them. As a result, Microsoft Office now supports Stampery authentication services. This will bring the blockchain-based notary service to the attention of enterprise clients all over the world. An intriguing development, although it remains to be seen how many people will use the service.

It is good to see Microsoft pay close attention to a blockchain-based service. Especially when considering how the company’s Office solution is used by millions around the world. However, there has always been a problem when it comes to certifying documents in a convenient manner. Microsoft has solved this issue by integrating support for Stampery.

Microsoft Office Integrates Stampery

Cryptocurrency enthusiasts will be familiar with what the service has to offer. Stampery lets users certify and verify documents against the Ethereum Classic and Bitcoin blockchains. This service is available in online form, but there is also an API which developers can access. Microsoft is using this API to integrate this feature into Microsoft Office directly. This means users do not have to leave their Office document to ensure it is a certified one.

This new addition will be quite valuable to enterprise clients. Most companies keep hundreds of records in office, including legal documents. Certifying and signing these documents in a tamper-proof manner is of the utmost importance. While there are other certification solutions available, the third party will also store a copy of the document. From a privacy point-of-view, that may not be the best course of action.

Stampery’s solution is both elegant and efficient at the same time. Hashes are creating of every document submitted through the API. These hashes are then stored on the blockchain in real-time. Since no one can modify data once it’s stored as part of a blockchain, there is no trust issue dealing with either. All things considered, it is a more than a valuable addition to the list of Microsoft Office services.

Within the Microsoft Office environment, users will see two new buttons. One is used to verify documents, which will communicate with the Stampery API to access the original hash from both blockchains. The certification button will hash a document and send it to the Stampery API via the Azure network. Once the hash is received by Stampery, it will be put on both bitcoin and Ethereum blockchains for everyone to see.

Header image courtesy of Shutterstock

The year just keeps getting bigger and better for Creditbit as it is constantly scaling new heights. The crypto has managed to cross the mark of $1 on five major exchanges. The news is great and has the Creditbit community buzzing. The price hike is also the validation of Creditbit dev team’s efforts and the community’s unwavering support in the cryptocurrency.

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.

Creditbit is emerging as one of the major contenders in the top ten alt coins segment. Its growth has been phenomenal in the short span of its existence and the Creditbit community is continuously expanding as more and more adopters get attracted to the new path breaking alt coin.

The current statistics of Creditbit are unprecedented and impressive. There has been a lot of build up to Creditbit’s current position in the market. Creditbit’s stellar innovation and development under the second development roadmap has helped the crypto to evoke an interest in the community, leading to increased traction and improved adoption rate. The crypto’s Chinese debut and the launch of Credtitbit’s translated whitepaper in the Chinese market further helped to strengthen its position in the world market.

Riding the wave of interest around the impressive crypto, it has managed to reach the price of USD 1.30 and a market cap of 16,379,821 USD. Its 24h trade volume is currently at 450,224 USD.

As the Creditbit community celebrates the good news, the dev team behind the crypto is still hard at work for providing the best assistance to the users after extending the time period of the first round of Migration. The first round of migration will now end on April 16, 2017. The dev team is also ready with CreditDAO and CreditGAME, which will be launched soon following the end of the first round of migration.