THE MAIN REASON FOR THIS NEW TYPE OF ODD WEBSITE.
I figured it would be unique and new to introduce a few different markets that are fused together, like this one. something that can cater to alot of people but people who are interested in gaming, conspiracy theory's, news, personal, etc... so I guess this is along the lines of a gaming and conspiracy news website/blog. i will always continue to update daily and do things that are different and stand out.
A UK Exchange Is Launching Litecoin Futures Trading
U.K.-based cryptocurrency futures trading platform Crypto Facilities is launching a litecoin (LTC) derivative product.
According to an announcement on Wednesday, the new U.S. dollar-denominated service will go live on Friday, June 22, and will allow investors to long or short futures contracts that have litecoin as the underlying collateral, with weekly, monthly and quarterly maturities.
Timo Schlaefer, CEO of Crypto Facilities, said the decision is a result of having received "strong client demand" for litecoin contracts. "We believe our LTC-dollar futures contracts will increase price transparency, liquidity and efficiency in the cryptocurrency markets," he said.
Litecoin creator Charlie Lee commented in the announcement that, by opening up litecoin trading to more institutional investors, the new product would increase the cryptocurrency's liquidity and "make it easier for people to get in and out of litecoin."
The move comes just a month after the firm launched ethereum-based futures contracts and marks a new addition to several crypto-based derivative products that are already being traded on the platform, including bitcoin and XRP, the native token of the Ripple protocol.
In an email response, Crypto Facilities told CoinDesk that the firm is expecting the trading volume of its ethereum futures contracts to reach around $150 million in this quarter, accounting for around 10 percent of the platform's total.
Breaking: South Korean Crypto Exchange Bithumb Hacked, Thieves Steal $30 Million
South Korean cryptocurrency exchange Bithumb has suspended deposits and withdrawals after losing $30 million worth of cryptocurrencies as the result of an apparent hack.
The Seoul-based company, once the world’s largest cryptocurrency exchange, on Wednesday announced that $30 million worth of undisclosed cryptocurrencies had been stolen from the platform.
It is not clear at what time the theft occurred, but Bithumb suspended deposits at approximately 00:53 UTC and immediately began transferring all of its assets to cold wallets to prevent further losses.
“We checked that some of cryptocurrencies valued about $30,000,000 was stolen,” Bithumb said on Twitter. “Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.”
The theft presumably occurred as the result of a hack, though the exchange has not formally confirmed this. Given the relatively small size of the theft, it’s likely that a hacker managed to gain access to an internet-connected “hot wallet” for one of the more thinly-traded assets listed on the platform.
Bithumb said that the company will cover all losses so that users will not be affected, other than by the temporary inability to move their assets. Deposits and withdrawals were suspended as of the time of writing at 1:58 UTC.
Bithumb currently ranks as the world’s sixth-largest and South Korea’s second-largest cryptocurrency exchange, with a daily trading volume of just over $330 million, according to CoinMarketCap.
The incident marked the second time a South Korean exchange had been hacked this month. Less than two weeks ago, little-known bourse Coinrail lost approximately $37.2 million worth of coins, including a variety of ERC-20 tokens.
The bitcoin price dropped nearly $200 in the hour following the hack, erasing much of the recovery that the markets had seen over the previous 48 hours.
To TRX Coin Holders: “Mainnet Launches Often Clip Price”: Tron, IOTA, Stellar Lumens, Litecoin and EOS Technical Analysis (June 20, 2018)
Bitcoin Price Outperformed Crypto Hedge Fund Pantera Capital Last Month
Sometimes it doesn’t pay to diversify — just ask cryptocurrency hedge fund Pantera Capital, whose fund underperformed the bitcoin price last month.
According to Bloomberg, the firm’s Digital Asset Fund underperformed bitcoin during May as the cryptocurrency markets continued to decline further from the all-time highs they set in late December and early January.
Pantera CEO Dan Morehead acknowledged the poor performance in a monthly investment letter distributed to clients on Tuesday, explaining that the fund had dropped 26 percent for the month and is now down 51 percent in 2018.
The bitcoin price, meanwhile, posted a 15 percent decline in May and is also down approximately 51 percent for the year. That may not exactly be an attractive return on investment, but at least it comes without Pantera’s management fee.
Pantera’s poor performance in May represented a sharp reversal from April when it rallied 46.2 percent to outperform the flagship cryptocurrency, as well as the crypto market writ-large. Morehead attributed the recent decline to its stakes in Dash, Waves, Bitshares, and OmiseGo, assets which fared poorly during the period.
Diversification is a common investment strategy, but its wisdom in regard to the cryptocurrency markets has long been in debate. Individual asset prices remain highly-correlated, and even today the majority of fiat investments flow into the cryptocurrency ecosystem through bitcoin.
The bigger cryptocurrencies get, the worse they perform, says central banking institution
Reuters
Cryptocurrencies are not scalable, the Bank of International Settlements said on Sunday in its latest warning about the rise of virtual currencies.
BIS added that cryptocurrencies are more likely to suffer a breakdown in trust and efficiency the greater the number of people using them.
Cryptocurrencies are not scalable and are more likely to suffer a breakdown in trust and efficiency the greater the number of people using them, the Bank of International Settlements said on Sunday in its latest warning about the rise of virtual currencies.
For any form of money to work across large networks it requires trust in the stability of its value and in its ability to scale efficiently, the BIS, an umbrella group for the world's central banks, said in its annual report.
But trust can disappear instantly because of the fragility of the decentralized networks on which cryptocurrencies depend, the BIS said
Those networks are also prone to congestion the bigger they become, according to the BIS, which noted the high transaction fees of the best-known digital currency, bitcoin, and the limited number of transactions per second they can handle.
"Trust can evaporate at any time because of the fragility of the decentralized consensus through which transactions are recorded," the Switzerland-based group said in its report.
"Not only does this call into question the finality of individual payments, it also means that a cryptocurrency can simply stop functioning, resulting in a complete loss of value."
The BIS' head of research, Hyun Song Shin, said sovereign money had value because it had users, but many people holding cryptocurrencies did so often purely for speculative purposes.
"Without users, it would simply be a worthless token. That's true whether it's a piece of paper with a face on it, or a digital token," he said, comparing virtual coins to baseball cards or Tamagotchi.
The dependency of users on so-called miners to record and verify crypto transactions is also flawed, according to the BIS, requiring vast and costly energy use.
It has issued a series of warnings this year after an explosive rise in cryptocurrency values attracted a wave of followers.
Agustin Carstens, general manager of the BIS, has described bitcoin as "a combination of a bubble, a Ponzi scheme and an environmental disaster".
The BIS has told central banks to think hard about the potential risks before issuing their own cryptocurrencies.
No central bank has issued a digital currency, though the Riksbank in Sweden, where the use of cash has fallen, is studying a retail e-krona for small payments.
The BIS also said in its annual report that effective regulation of digital coins needed to be global, targeting both regulated financial institutions as well as companies offering crypto-related services.
Students’ Blockchain Platform ‘Could Transform Auto Trading’
An ambitious blockchain-technology-related research project designed by a group of four undergraduate students at Jeonbuk Universityhas won a prestigious South Korean award. The Korean Institute of Information Technologyand the Korea Digital Contents Society, two of the most influential groups of computer scientists in the country, praised the group’s proposal, which involved creating a blockchain-powered platform involving smart contracts for trading used cars.
The organizations said they felt the platform could haveinked a deal with America’s Ripplereal-world applications in the country’s second-hand car market. According to media outlet Daily UNN, the scheme could boost data transparency, reduce transaction costs and allow for enhanced third party-free, motorist-to-motorist trading.
Meanwhile, an intensive blockchain course co-organized by South Korean bank NH and Seoul’s Dongguk University has completed the training of its first group of students. Twenty professionals from a range of different backgrounds successfully passed the intensive three-month course that features practical elements and focuses on possible cloud-based applications for blockchain technology.
South Korean universities, traditionally a rich source of innovation for the country’s tech sector, are now fully embracing the world of fintech, with many leading universities recently opening blockchain departments.
Earlier this month, one of the country’s “big three” tertiary education providers, Korea University, inked a deal with America’s Ripple – while rival Hanyang University sealed an agreement with one of South Korea’s biggest groups of blockchain startups.
‘Toxic’ Suspected Manipulation Sees Bitcoin Futures Sink 55% in 2018
Yet further concerns surrounding the impact of Tether (USDT) and Bitcoin (BTC) futures on the leading cryptocurrency’s fortunes were raised on CNBC, Wednesday June 13th.
As CNBC notes, Bitcoin futures have sunk 55 percent this year, reaching their lowest levels since February.
Weighing in on the controversies surrounding allegations that Tether (USDT) is being used as a shorting mechanism by institutional players on the BTC futures markets, Brian Stutland, CIO of Equity Armor Investments, dismissed the idea as “far-fetched,” saying:
“I know there’s a lot of talk out there about [BTC price] manipulation by some professor who has probably never traded any significant money … if people were producing Tether to go ahead and then buy Bitcoin, then to me it seems that Tether should go to zero, not Bitcoin.”
Stutland’s mention of “some professor” refers to a paper released June 13 by John M. Griffin and Amin Shams of the University of Texas, which suggested that transaction patterns suggest Tether was “used to provide price support and manipulate cryptocurrency prices,” artificially deflating the price of Bitcoin to maximize short-term returns on futures contracts.
Stutland proposed a different explanation for Bitcoin’s declining fortunes in 2018, saying that low volatility in the stock markets the coming quarter mean that “people would rather be invested in the stock markets” than Bitcoin. “Bitcoin trading to the $6,000 level seems where it wants to go.”
Adamantly disagreeing with Stutland’s perspective, Scott Nations, CIO of NationsShares riposted:
“The [situation is] absolutely toxic...Professor Griffin has a history of rooting out fraud manipulation, this is not something you can dismiss... Tether was fired by its accountants in January. You do not get fired by your accountant because you’re too upstanding. If Tether is the only reason that Bitcoin is at $6,000, then I think we’ll see it down much more than the 3 percent it’s down right now. 3 percent would be a victory, I’d expect it to be down [by] 10.”
Just yesterday, Fundstrat’s Tom Lee, similarly attributed the recent “gut wrenching” price weakness of Bitcoin to futures contract expirations.
Lee said the “significant volatility” is one of six expirations of Bitcoin that have happened since CBOElaunched its futures contracts in December 2017, claiming that:
"Bitcoin sees dramatic price changes around CBOE futures expirations... We compiled some of the data and this indeed seems to be true.”
Yet further controversial reports have surfaced this month, with suggestions that the U.S. Commodity Futures Trading Commission (CFTC) has been demanding extensive trading data from major U.S. crypto exchanges to conduct its own investigation into whether price manipulation might be compromising Bitcoin futures markets.
A 'Crypto Shopping Mall' Is Being Tested in Slovenia
A major shopping center based in Slovenia is widening a cryptocurrency payments pilot.
BTC City Ljubljana, located in Slovenia's capital of Ljubljana, will allow a group of 150 people to use cryptocurrencies at 24 businesses located in the sprawling complex, which according to online materials boasts over 500 storefronts. Those include services for clothing and electronics as well as restaurants, Slovenian TV channel "24 Ur" reported on Monday.
Despite the seemingly relevant name, there's no relationship between bitcoin and the popular shopping complex, which has been called one of Europe's largest. It first opened in the 1950s before being renamed as the Blagovno Transportni Center – or BTC – Ljubljana.
Earlier this year, the shopping center co-developed the project with startup Eligma, which offers a payment system dubbed Elipay that facilitates transactions in cryptocurrencies by way of a mobile app.
With more than 500 stores on its territory, the shopping center aims to become the first retail hub in the world to accept cryptocurrencies.
Cryptocurrency news: Cryptos PLUNGE today - why are Bitcoin, Ripple and Ethereum down?
Cryptocurrency news: Cryptos PLUNGE today - why are Bitcoin, Ripple and Ethereum all falling?
CRYPTOCURRENCY prices plummeted this morning following the weekend’s news of a South Korean crypto exchange had been hacked. The market suffered a massive dip that has continued well into the week, seeing price tumble to a 70-day low. Why is bitcoin, Ripple, and Ethereum falling?
The cryptocurrency market continues to suffer a major blow this morning after a significant hack on a South Korean exchange rocked investor confidence.
CoinRail, a popular exchange, was breached on Sunday, losing a predicted $28 million in lesser-known altcoins.
The cryptocurrency market itself has lost more than 50 percent of its total value in 2018, with the likes of bitcoin and Ripple losing roughly 10 percent in the last three days.
Bitcoin dropped to $6,569.15 as of 10am this morning, with the rest of the cryptocurrency market following suit.
Ethereum prices sit at $489, Ripple at $0.554110 and Litecoin trades for $99.42 in the slide.
Under $100: Litecoin Price Hits Fresh 2018 Low
The price of litecoin (LTC), the world's sixth largest cryptocurrency by market capitalization, fell to a fresh 2018 low on Wednesday.
Data from Bitfinex shows the cryptocurrency slipped to $97.04 today - the lowest level since Dec. 8 in 2017, reflecting a 74 percent decline since its all-time-high at $379 seen on Dec. 19. Further, the price of LTC is also reporting more than 60 percent depreciation since the beginning of this year.
LTC's price decline over the past several months also followed a notable remark by its creator Charlie Lee who stated in a Reddit post on Dec. 20 that he had sold off all his holdings in the cryptocurrency, as previously reported by CoinDesk.
As of press time, the price of LTC has bounced back to $99.50 - down 6.3 percent in the last 24 hours. In fact, other major cryptocurrencies are also flashing red. For instance, bitcoindroppedbelow $6,500 on Tuesday to hit its 70-Day low and is currently reporting a 3.8 percent decline on a 24-hour basis.
EOS also dropped by 10.33 percent within a day, making it one of the major losers among top 10 cryptocurrencies by market capitalization. Others including ethereum, XRP and bitcoin cash are reporting at least five to eight percent decline on a 24-hour basis.
Meanwhile, the total market capitalization of all cryptocurrencies dropped below $300 billion for the first time since April 12.
A UK Exchange Is Launching Litecoin Futures Trading
The bitcoin price, meanwhile, posted a 15 percent decline in May and is also down approximately 51 percent for the year. That may not exactly be an attractive return on investment, but at least it comes without Pantera’s management fee.
Pantera’s poor performance in May represented a sharp reversal from April when it rallied 46.2 percent to outperform the flagship cryptocurrency, as well as the crypto market writ-large. Morehead attributed the recent decline to its stakes in Dash, Waves, Bitshares, and OmiseGo, assets which fared poorly during the period.
Diversification is a common investment strategy, but its wisdom in regard to the cryptocurrency markets has long been in debate. Individual asset prices remain highly-correlated, and even today the majority of fiat investments flow into the cryptocurrency ecosystem through bitcoin.
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