3Commas is a suite of “smart tools” to help cryptocurrency investors minimize risks, limit losses, grow profits, and manage their portfolios across multiple exchanges.


Saint Petersburg, Russia-based 3Commas offers experienced and beginning traders alike a suite of “smart tools” designed to help them manage their portfolios across multiple cryptocurrency exchanges while maximizing profits and limiting losses.

Before test-driving the platform, Bitcoinist sat down with 3Commas CMO Mike Goryunov to talk about what prompted the team to develop the platform in the first place:

It’s kind of a funny story because we originally built this platform for our own use only. When we showed our project to friends in the crypto community, we saw a big need for the kinds of tools 3commas has and so we decided to open the project to everyone.

3Commas opened to the public in September 2017 and, primarily through word of mouth, has grown to over 5000 active traders and an average daily trade volume of over $5 million USD.

Tools and Features

The first thing that caught our attention about 3Commas was the clean, uncluttered interface. The platform offers a simple, logical user experience whether you are accessing it via a desktop computer or mobile device. Russian and English language options are available, as well, with additional languages in the works.

Tools and Features - 3Commas Dashboard

Cryptocurrency exchange integrations

3Commas integrates with Poloniex, Bittrex, Bitfinex, Binance, and any Ethereum wallet and the process of hooking up your exchange account to the platform is fast and simple thanks to easy-to-follow illustrated documentation. Additional exchanges will be added throughout the coming year.

To minimize risk and to encourage smart trading habits, 3Commas has implemented two tools that every trader should learn to take advantage of – Trailing Stop Loss and Trailing Take Profit.

Trailing Stop Loss and Trailing Take Profit.

Trailing Stop Loss

A Trailing Stop Loss order is identical to a standard Stop Loss order in all respects except one. Both let you minimize your losses in the event of a price drop, but unlike a Stop Loss order that is set manually at a fixed price threshold, a Trailing Stop Loss order is percentage-based and automatically adjusts to price fluctuations.

For example, let’s say you purchase 10 ETH at $675 each and to minimize any potential losses, you set a Stop Loss order of 10%. This means that if the price of ETH drops below $607.50, the stop loss order will automatically execute, selling your ETH at that price.

But what if the price of ETH goes *up* during the day? A standard Stop Loss order will still only execute when the price drops below 10% of the original buy-in price. A Trailing Stop Loss order, however, automatically adjusts to the price change. So if the price of ETH goes up by 15%, the Trailing Stop Loss order would trigger when the adjusted price drops by 10%, netting you a 5% gain.

Trailing Take Profit

Just like how the Trailing Stop Loss tool is designed to minimize losses, the Trailing Take Profit tool is designed to maximize gains. Using our Ethereum example from above, let’s say you buy 10 ETH at $675 each and set a standard Take Profit order at $700. This means that you would make a profit of $25 per ETH.

But what if ETH goes higher than $700? You’ve just lost additional potential profit. A Trailing Take Profit order lets you sell at the highest part of a trend by selling at a percentage of the highest value. So if you set a Trailing Take Profit order of 10% and ETH climbs to $800 and then falls, the sell order would take effect when the price falls below $720 ($800 – 10% = $720), netting you a profit of $45 per ETH.

Custom Portfolios

3Commas Portfolios tool is a unique feature that not only lets users track their actual portfolio’s performance over time, but also lets them create custom “dream portfolios” of tokens and coins that they think could be profitable. These custom portfolios are publicly available to other users who can analyze them and even add them to their own actual portfolio.

Custom Portfolios

The Road Ahead

2018 looks to be a very busy year for 3Commas. Several new trading tools will be added, including social trading and arbitrage trading. Social trading, which we are told will be rolled out sometime in February 2018, lets users ‘follow’ their favorite traders and copy their trades.

Arbitrage trading will allow users to take advantage of price differences between one exchange and another. Essentially, traders will be able to buy low on one exchange and sell high on another.  True crypto arbitrage trading capabilities are few and far between, so the launch of this tool, in particular, should be of great interest to the crypto community.

For more information about 3Commas, or to try it out for yourself, visit 3commas.io.

Ringing in the New Year with a 50% Bonus

In true holiday spirit, and to usher in the new year in grand style, 3Commas are giving users a 50% bonus on all deposits from December 31, 2017, through January 3, 2018. No promo code is needed. Just sign up at 3Commas (or sign in if you’re already a registered user) and make your deposits. Bonuses will be credited automatically.

Ringing in the New Year with a 50% Deposit Bonus at 3Commas

Have you tried 3Commas yet? Which of their trading and portfolio management tools do you find to be the most useful? Let us know in the comments below.


Images courtesy of 3Commas, Shutterstock

The post 3Commas – Smart Tools for Intelligent Cryptocurrency Traders appeared first on Bitcoinist.com.

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Many investors find it difficult to make profits while trading cryptocurrencies, which is mainly due to the complicated nature of the industry which is subject to high volatility and manipulation. Beginners tend to follow unrealistic passing trends rather than following the “buy low and sell high” approach or using sophisticated trading tools. OptiToken solves this — one of the industry’s biggest problems.

About OptiToken

OptiToken is the world’s first “hyper-deflationary cryptocurrency.” It uses algorithmic trading activity to jet-fuel its adoption and nurture demand. By holding this cryptocurrency, users may benefit from constant price appreciation nurtured by round the clock automated trading driven by special algorithms. These trading algorithms embed strategies frequently used by professionals at high levels to often outpace bitcoin and other top cryptocurrency indexes such as top-3 or top-5 for example.

OptiToken- Disrupting the Traditional Industry Model

OptiToken works differently by incorporating exclusive features like Algorithm trading, Strategic scarcity and Buy pressure. Algorithmic trading exposes investors to the algorithm that consistently outpaces Bitcoin trading, 24/7. It has been developed upon data taken from professional traders and enables escalating integration of machine learning.  Strategic scarcity helps OptiToken to positively impact price through deflation as the percentage of the tokens bought back, is sent to an unspendable address that can be verified in a transparent way. It will be the first token who’s circulating supply will always be a decreasing function and never a constant or inflating supply which is something the founder Sean Donato argues, “should potentially be a feature of 99% of cryptocurrencies and that is something even Satoshi Nakamoto hinted is something special about cryptocurrency inadvertently in his original whitepaper when he said ‘Dead bitcoins are good bitcoins.’” The second disruptive feature employed by OptiToken is the Buy Pressure Strategy, in every buy cycle, a percentage of profits generated is used to purchase Optitokens on the market, hence, resulting in upward price pressure and garnering adoption and value for token holders. It’s similar to a stock buy-back tactic used in traditional finance, but by destroying the “buy-back” tokens and thus sending the value back to the network in the form of deflation.

In simple words, OptiToken generates profits from on-going trades and infuses it into OptiToken markets to ensure upward price pressure. The tokens bought are sent in proportions to the community supporting the infrastructure and unspendable address to create strategic scarcity. It will, in turn, stop the tokens from re-entering the ecosystem as selling pressure. The remaining Optitokens held by users of the currency gain value each time this cycle happens. These features make the project one of its kind to demonstrate the superiority of the cryptocurrency over traditional fiat.

To know more about the platform and register for its pre-sale and ICO, please visit https://www.optitoken.io/ or access the official Whitepaper at https://optitoken.io/White_paper.pdf or for Twitter follow @OptiToken

 

The post The Exclusivity of OptiTokens Features May Also Impact Traditional Stock Market Model appeared first on NEWSBTC.

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After three years of hard work, countless hours of programming, passion and perseverance for a shared vision, CloakCoin has reached a new milestone in building the world’s safest cryptocurrency.

ENIGMA, the in-house payment system is open source as of 31st December 2017. Anyone can now take advantage of CloakCoin’s Transaction System.

At the heart of CloakCoin is ENIGMA, protecting you from access by third parties, such as hackers, official bodies or any unwanted parties. The blockchain payment system encrypts the transactions of users and prevents transaction tracking while providing secure transactions with a maximum processing time of 60 seconds.

Thus, CloakCoin’s ENIGMA ensures full privacy combined with speed.

Many advantages that are hard to find at other cryptos and which are now easily accessible to you, the end user.

By making ENIGMA freely available, CloakCoin aims to provide its community with the transparency it deserves and gives prospects the opportunity to leverage their proven payment system.

While your own privacy is being eroded day by day, piece by piece, CLOAK rebuilds it where it matters most. ENIGMA protects your finances and transactions from sightings by unwanted parties. With the Open-Source, the team of the CloakCoin expressly declares this security. The team now stands behind the promise of making its technology freely available.

A clear manifesto at a time when heroes like Edward Snowden are being persecuted by the law and espionage is being run by the state on a grand scale, protection is more important than ever before. Nobody should give away more information than he or she wants to reveal.

Along with this manifesto and the resulting enhanced transparency, there is an opportunity to collaboratively advance CLOAK. The community, technology experts and prospects are encouraged to use its technology freely and share these improvements with the Cloak team. By doing so, CLOAK expects to receive new impulses from outside and acceleration of its establishment in the markets. The common welfare stands in the foreground.

CloakCoin is aiming for a whole new level, which will be confirmed by a quality audit of an external company in January and increased promotion of the ENIGMA technology. Already CLOAK’s current increasing value confirms its growing prominence.

CloakCoin redefines data privacy and makes its vision become reality.

Website: http://www.cloakcoin.com
Chat. http://chat.cloakcoin.com
Open Source: https://github.com/CloakProjectDev

 

The post Cloak’s Transaction System Enigma is Open Source – A Milestone for Privacy appeared first on NEWSBTC.

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Skyline, a bar in Singapore, is offering a party package for celebrating New Year’s Eve that costs a single Bitcoin.


We’re getting closer and closer to watching the ball drop in Time’s Square, heralding the end of 2017 and ushering in 2018. Around the world, people will be celebrating with friends and families, probably while singing an off-key version of Auld Lang Syne. Crypto enthusiasts will remember 2017 as the year that Bitcoin and other cryptocurrencies exploded and became a part of the public consciousness. If you really want to ring in the New Year with a crypto bang, you could sign up for the Bitcoin Baller Package being sold by Skyline, a popular bar in Singapore. The cost? A single bitcoin.

Should Auld Acquaintance Be Forgot

Partygoers should have a great view during the Skyline party, dubbed Bianco, on New Year’s Eve. The bar sits on the 45th floor of a skyscraper and looks out on the city’s waterfront. Party goers will be decked out in white and can drink and dance the night away before enjoying an amazing fireworks display being held at the waterfront.

So what does spending a bitcoin get you? The Bitcoin Baller Package includes the following: limousine pick-up, 2 butlers, and a platter of lobsters, oysters, and caviar. There’s plenty of booze in the package as well as buyers also get:

1 x Hendricks
1 x Ron Zacapa 23
1 x Cordon Bleu
1 x JW Blue Label
1 x Belvedere 6L
1 x Cristal
1 x Armand de Brignac
10 x Doms

Of course, people are still free to pay cash for partying at Skyline. The bar admits that nobody has come forward and bought the Bitcoin Baller Package, whose cost currently runs close to $13,000.

Skyline Used to Cryptocurrency

The Skyline bar in Singapore has run a number of successful cryptocurrency-themed events in the past. The main focus for such events is the people working in the financial technology sector, which is booming in Singapore. The bar was also the first club in the city-state to accept virtual currency when it began allowing Ethereum as a payment option on November 28th.

Subaish Rajamanickam, manager at Skyline, says:

We had a couple of cryptocurrency after-parties here, and we have also themed a night … called Crypto Thursdays. So that basically got the ball rolling for cryptocurrency acceptance here at Skyline.

Some patrons of the club have said that they’ll continue buying drinks in cash as the transaction fees are just too high to use on buying a drink or two. Still, a single martini is a far cry from the Bitcoin Baller Package. In the end, the important thing is that more and more businesses are accepting virtual currency as a viable payment option, and it appears that such acceptance will only grow in the new year.

Would you pay one bitcoin for the party package at Skyline? Does your favorite club or bar accept cryptocurrency? Let us know in the comments below.


Images courtesy of Pixabay and Bitcoinist archives.

The post Ring In the New Year for a Bitcoin with Singapore Bar Party Package appeared first on Bitcoinist.com.

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Platform to Unite all Blockchain Networks

Open Trading Network, the first 100% collateralized decentralized exchange, is breaking new grounds in the industry by making exchanges between the blockchain networks fast and secure like never before. The company’s vision is to build a set of applications aimed at making the crypto world open to the common man and all market participants.   

December 31, 2017

Open Trading Network Foundation, a non-profit organization based out of Zug, Switzerland, is all set to revolutionize the rapidly expanding global crypto economy by developing a secure system combining numerous isolated blockchain networks into a unified open network. World’s first 100% collateralized decentralized exchange, OTN will allow instant transactions between a wide myriad of blockchain networks. Open Trading Network Foundation claims that this innovation will make lives easier for businesses, individuals, traders, and regulator, while addressing the need for speed and liquidity.  

The global market for cryptocurrency has developed at a breakneck speed in the recent years with an exponential growth in the number of cryptocurrencies. The objective of OTN is to make the benefits of this growing crypto economy available to common users and all market participants. They want to accomplish this by creating a set of mass market applications for efficient management of crypto assets, performing cross-market transactions, secure storage of savings, accessing the global marketplace, working with tokenized loyalty systems, and making purchases from a crypto wallet.

The maiden product from the network, OTN.Wallet is in the final stages of development, and expected to be launched very soon.  This multi-currency wallet will serve as a universal tool to store and exchange all types of cryptocurrencies or digital assets.  Users will also enjoy several other important features such as fast and safe transactions, a balanced portfolio, direct exchange, P2P transfers, analytical tools, profitability reports, asset tokenization and detokenization, and much more.

Following the launch of OTN.Wallet, the network’s next two products OTN.Business and OTN.Exchange are expected to arrive shortly. OTN Business is a business application supporting several widely-used operations, including issuing tokens and listing them on exchanges, issuing tokenized loyalty cards, crowdfunding, tokenization of services, integrating payment schemes that use a large number of tokens and cryptocurrencies, integrating custom centralized matching engines, etc.  Whereas, the OTN Exchange will enable superfast placement or orders, maintaining complete transparency of all orders.

Instead of following the common path of collecting funds via an ICO, Open Trading Network has been created in partnership with the distinguished trading business IQ Option. In addition to financing the creation of the network, IQ Option is also providing the platform for its first commercial use.

Staring from October 7, 2017, Open Trading Network Foundation has initiated the process of issuing a total of 100 million OTN tokens every Monday and over the following 104 weeks. The exact distribution plan for the tokens is as follows.

  • 42 million to the holders, traders and wallet users on the OTN platform
  • 28 million to the shareholders and IQ Option team members
  • 30 million will remain with the OTN foundation for the purpose of future distribution and attract strategic partners.

To find out more about Open Trading Network and their unique venture, please visit https://otn.org/

About Open Trading Network: Open Trading Network is the first 100% collateralized decentralized exchange which will allow fully secure exchange between the blockchain networks. OTN foundation is committing itself to develop the network described in the white paper and also several applications to help the different stakeholders to benefit from the network.

Website: https://otn.org/
Contact: Dmitrii Kutuzov, Head of Development
Email: marketing@otn.org

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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TheMerkle Bitcoin Bubble Burst

Mohammed A. El-Erian and Roger McNamee are in agreement: as we enter the new year, the Bitcoin market is at a critical point in its development. In separate articles, both financial experts expressed their beliefs that, following a meteoric rise in 2017, the near future will define how history views Bitcoin in hindsight.

Time for a New Paradigm?

“[In] the waning days of 2017,” Mohammed A. El-Erian writes in an op-ed for Bloomberg, Bitcoin’s “market is at a crucial juncture.” A chief economic adviser at Allianz, El-Erian argues that “the market finds itself at an important juncture – perhaps even a defining one.” In light of the recent holiday dip, he believes that “this sharp price correction will act as a catalyst for expanding what, until now, has been quite limited institutional involvement in this market – or it will become a stage in the deflation of a remarkable and historic asset bubble.”

Recently, Bitcoin has gone into a free fall from its all-time high of US$20,000 reached on December 17.  For new investors in the cryptosphere, this correction was likely a harsh first lesson in an unconventional, extremely volatile market. For market veterans, it was just another day at the office – another hard-to-stomach correction after a butterfly-inducing bull market ride to new all-time highs.

As El-Erian points out, Bitcoin rode the crests and troughs of this rollercoaster market with the help of a dedicated, relatively small investor base.

Long positions in Bitcoin – “that is, those who bought bitcoins outright, either as an investment or as a trade – are dominated by individual (‘retail’) investors,” he writes. “Meanwhile, large institutional investors (such as traditional mutual funds, Wall Street banks and established hedge funds) have generally remained on the sidelines, even though their involvement is key to bitcoin’s sustainability.”  

Further, in the wake of Bitcoin’s Christmas correction, “the most important question facing it is whether the recent price correction will prove to be what market participants refer to as ‘healthy,’” according to El-Erian. Given the size of the market’s investor base relative to its 2017 growth, he argues that a healthy correction would be “one that serves to shake out excessive irrational exuberance, provides for the entry of institutional investors, encourages the development of market-deepening products, and widens and balances out the investor base and the product offering.”

In a separate CNBC interview, Elevation Partners cofounder Roger McNamee echoed El-Erian’s observation that Bitcoin has so far subsisted on marginal investment capital.

It’s “still a very small market in the context of the larger financial world, but it has had a huge year. We’ve done it around a speculative mania,” McNamee stated in the interview. He also believes that, if this mania continues, Bitcoin may become “self-fulfilling” and emerge from a potential crash as “a legitimate industry.”

“With the amount of activity going on around it, there are people willing to invest the kind of dollars it takes to make a thing like bitcoin into a long-term part of the financial market.”

McNamee holds that, as an asset, Bitcoin is still too young for anyone to make a judgment on how it will mature in the financial sector over the years to come. He does believe that 2018, though, will be critical for outlining this future.

“You’ll have these big swings, up and presumably down, as well. And, you know, wherever that settles out I think will tell us a lot about the role of bitcoin long-term,” he said.

Whether or not the bubble will pop or be inflated to new parabolic highs in 2018 remains to be seen; we don’t have a crystal ball, and neither do the world’s business leaders.

But according to McNamee, it likely won’t “be the end of the story either way.”

 

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DIWtoken.com is pleased to announce its ICO as it has just entered its Whitelist stage – the earliest ICO stage – where early participants are invited to join the project and contribute at the lowest pricing possible. DIW’s unique concept plans to solve global security vulnerabilities in regards to private sensitive data including Identification documents, Bank details, Login details and Health care records to name a few with the introduction of a Secure Digital Vault. This will be the entry point to a global directory of professionals and individuals alike where transparency will rule, providing unprecedented levels of security and trust amongst all members. A secure Payment Gateway for e-commerce websites accepting fiat and crypto currency will also be introduced enabling mainstream adoption of all crypto currencies.

Data Breach Woes

There is simply no aspect of human life as well as business and government affairs not affected by the exchange of digital data with breaches posing a direct threat to the stability and security of our global system. Reports are flooding in as to when and how many entities have been affected by this with sometimes even catastrophic results. The global community is becoming increasingly aware of this major security thread with everyone scrambling to find a solution for their safety and peace of mind.

Global Reaction

Everyday people are naturally concerned. Multiple personal as well as Social Media hacks have distributed millions of individuals’ sensitive personal data with much of it resurfacing in the Dark Web with ominous outlook.

Industry professionals are also becoming increasingly weary in regards to the effect these data breaches may have on their businesses. Unfortunately, the impact these data breaches are having isn’t limited only to the ‘digital aspect of things’ but down to physical aspects as well, such as the actual safety and security of their premises – even property ownership has been put to question recently!  

And then there are governments. The FBI recently warned that ‘advanced persistent threat’ cyber attackers are increasingly targeting sensitive information stored on government networks globally through cyber espionage. With the thread of an imminent nuclear war looming on the horizon, a single data breach might be the spark needed to ignite such a confrontation with horrific consequences. 

A Valid Concern

There were 9 billion data records stolen since 2013 with 96% of the data stolen perfectly usable and useful to the hackers. That’s a frightening 60 records per second!

During 2017’s first six months alone, approximately 2 billion records have been breached with government, technology, education and healthcare being the sectors mostly hit.

It is clear that this trend will continue and only get worse as time passes by unless fundamental changes take place.

Growing Online Fraud

Business fraud is on a stroll! Every year, more and more people are being scammed off their valuable possessions on line. The trend is said to be increasing by 14% every 3 years with this percentage rising with every passing year. A recent report revealed that 75% of the companies included within a global survey had fallen victims of fraud with 69% of these suffering a financial loss. The numbers in regards to individuals being scammed after having proceeded with online transactions with a subsequent financial loss is said to be higher as individuals are less prepared and more prone to attacks. Finding trustworthy and professional individuals and businesses alike to work with, is proving harder and harder.

It is evident that something needs doing if we are ever going to see a fully transparent market place along with a secure way of exchanging funds.

Utilising Crypto Currency

In a period of just 12 months, the total market cap of all Crypto Currencies has seen an increase of 1700%! At the time of writing, it has surpassed the $600 billion mark.

But there is a catch: Crypto currency is solely used within the crypto – community and online exchanges – not in everyday life.

It is evident that there is a major need for crypto-currency to be widely accepted by the global retail sales leader – e-commerce.

DIW’s Proposal

DIW plans to bridge and solve all aforementioned issues with the introduction of its global, blockchain-based, decentralised network complete with its own ecosystem and currency.

To gain access into the network, members will be provided with a Secure Vault, where they will be able to store their entire ‘Digital Life’ including documents such as identities, passports, KYC & KYS, financial, contracts, health records as well as login details.

Organizations as well as individuals around the globe, will be able to join in and exchange their services in the form of a Global Directory. The network will ensure that their identity is validated and their details accurate. Transactions will be completed in full transparency and all network members will be able to see each member’s real life performance in the form of a rating score.

The DIW token will be used and accepted throughout the network for transactions between its members, enabling higher security. Additional security services such as a digital contract-based escrow service will also be offered.

To top it all up and follow the cryptocurrency trend, DIW plans to introduce its own Payment Gateway that will be easily integrated within e-commerce websites accepting both FIAT as well as Crypto currencies enabling the utilisation of crypto-currencies in everyday life.

DIW’s Phases & ICO Crowdfunding

DIW plans to proceed with its project in Phases based on the funds invested.

– Phase 1 will feature the introduction of the secure digital vault

– Phase 2 will introduce the Payment Gateway

– Phase 3 will include the development and deployment of the DIW Global Directory

– Phase 4 will introduce a paid Escrow Service in the form of smart contracts along with other services

– Our vision is for DIW to encompass this sector by enabling the encrypted storage and secure sharing of personal Electronic Health Records between account holders and healthcare professionals.

The aforementioned services will be secured and maintained by a decentralized blockchain network that will be keeping all data highly encrypted as well as available to its rightful owners at all times.

To achieve the above mentioned goals, DIW plans to proceed with crowdfund that will enable the fruition of its project. It has just entered its Whitelist stage – the earliest stage of its ICO.

For more information as well as updates in regards to its project and development including many more exciting details in regards to its team composition, supporters and technology, interested parties are invited to join the aforementioned whitelist by filling the corresponding form found on its website – https://www.diwtoken.com

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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TheMerkle Bitcoin Cash Price Declines

The cryptocurrency markets are treading water right now. Bitcoin has continued its downtrend, slipping even closer to the US$10,000 mark. And with a few exceptions, the other markets are following at its heels, as portfolios the world over are turning red.

On the Come-Down

Plenty of folks, especially here in the States, went to bed with the unpleasant knowledge that Bitcoin was struggling to retake US$14,000.  Well, king crypto has slouched even lower on his throne, sitting at US$12,766 at the time of writing. This price puts it about US$700 away from reaching the floor on which it bottomed out during last week’s flash crash, and from which it seemingly bounced to a recovery price of US$16,700 in the days following Christmas.

Due to this price dip, Bitcoin’s market dominance is now only 37.4% of crypto’s total capitalization. This is the second-lowest point it’s been in the market’s history, approaching its all-time low of 37.3% seen during the altcoin boom of this summer.

Perhaps Bitcoin’s loss of dominance is to thank for the industry’s overall market capitalization floating well above US$550 million. A few months ago, if Bitcoin’s price was hit hard, you could reliably expect the rest of the markets to get hit even harder. But at the time of writing, crypto’s total market cap is sitting at US$570 billion. This certainly isn’t the US$648 billion all-time high it saw during the December run-up, but it’s a lot healthier than the US$422 billion from the lowest point of the Christmas season correction.

Still, this is not to say that the current markets are giving a stellar performance. Barring a few outliers, cryptocurrencies across the board appear gassed going into the New Year.

Excluding Tether, 88 out of the top 100 by market cap are bleeding in price right now, and most top 10 coins are experiencing major cool-offs. Litecoin, much like Bitcoin, is steadily approaching its own Christmas correction low of US$187. It’s currently resting at US$217, a major dent from the US$375 high it reached at the peak of its holiday surge.

Speaking of the top 10, there are a few gainers amongst the losing throng. Ripple, for instance, continues to impress. Yesterday, its market cap overtook that of Ethereum, and XRP currently boasts a price of US$2.39, sitting in the #2 position on CoinMarketCap.com. Its US$92.5 billion capitalization is nearly half of Bitcoin’s total worth, and its 30.79% increase over the last 24 hours has it fairing much better than most of its top 10 peers.

Cardano is also looking optimistic going into 2018. Nested comfortably in the #5 spot, its 27.94% 24-hour increase accompanies a US$0.60 price. Our newest addition to the top 10 crew, Stellar Lumens nudged out Monero with its US$5.7 billion market cap. Valued at US$0.32 per XLM, the crypto’s 24-hour increase is a respectable 16.75%.

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First Real Bitcoin Lightning Network Payment Completed via Bitrefill

Considering the persistent issues with the system at the moment, fast and cheap bitcoin (BTC) transactions might sound like a distant dream, but its realization might be just around the corner. The first transaction using real bitcoin to make a payment on the lighting network has recently been completed via mobile top-up service Bitrefill.

Also Read: Several Bitcoin Exchanges Are Closing Their Doors to New Traders

Lightning Payment on Bitrefill

First Real Bitcoin Lightning Network Payment Completed via BitrefillSoftware developer Alex Bosworth has revealed that he successfully completed the first lightning bitcoin mainnet (not a testing environment) transaction for an online purchase at Bitrefill. He paid his own actual phone bill with no fees, which executed instantly. Bitrefill is an online service that enables users top up their prepaid mobile phone plans with bitcoin and litecoin with over 600 operators across 150 countries.

The Lightning Network is a scaling solution that has been in development for a few years already. The protocol creates an off-chain system by forming a network of payment channels where funds are not entrusted to a third party. It theoretically promises to scale bitcoin by allowing thousands of transactions per second without compromising its trustless nature.

Bitrefill CEO, Sergej Kotliar, explained to news.bitcoin.com the motivation for this development by his team. “As we all know, blockchains currently don’t scale for consumer payments and currently require tradeoffs between decentralization and efficiency.  Lightning is a tool that can enable the best of both worlds – a great customer experience (both fast and cheap), but also trustless custody of funds. So we’re eager to enable it as a payment method and do what we can to support developments on that front.”

Full Steam Ahead

This payment integration with Lightning has been surprisingly easy and the company is already working on further developments, Kotliar explained to us. “At first we’ve enabled Bitrefill orders to be paid with Lightning. That’s the easiest integration for us. Next step will be enabling full lightning support (send and receive) in our user accounts.”

As to how he sees his company’s role in the larger development of the network, the CEO said: “A common problem with new technology and innovation is actually implementing things in production. That’s also where real issues pop up. We’re a small company, but we think that it’s important to help where we can. In our case it’s at least implementing this new piece of technology as it becomes available and provide testing. Credit belongs where credit is due with all of the independent and corporate developers of the Lightning protocol.”

Real Bitcoin Lightning Network Payment Completed on Bitrefill

Bitrefill most recently made headlines when it came to the rescue of bitcoin PC gamers after Steam announced that the popular online games store would no longer accept BTC as a method of payment. “I can’t share revenue numbers but I’ll tell you that Steam voucher sales far exceeded our expectations, Kotliar commented. “We’re looking to add more voucher products to our service soon.”

Would the lightning network be the cure-all for bitcoin’s current ills? Let us know your thoughts in the comments section below.


Images courtesy of Shutterstock, Bitrefill.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

 

The post First Real Bitcoin Lightning Network Payment Completed via Bitrefill appeared first on Bitcoin News.

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Co-founder of SuperAngelsVentures Tony Tong, Founding Partner of SuperCharger Renu Bhatia, CEO of Australian Digital Commerce Association Nick Giurietto are now among 20+ top-notch confirmed speakers of the Blockchain Economic Forum.

Disclosure: This is a Sponsored Article

Forbes says 2017 has been a breakout year for crypto with a truly mind-bending appreciation of cryptocurrencies, transaction volumes (in USD) for Bitcoin increasing 100 times from what they were at the beginning of year, and countless new projects appearing. To summarize the development of the crypto economy and discuss its future potential LAToken organizes 2nd Blockchain Economic Forum in Singapore on February 4-6.

More than a hundred well-known experts, ranging from entrepreneurs and developers to investors and regulators, will share their insights on the blockchain technology and its best use cases. The list of confirmed speakers already includes:

  • Tony Tong, Vice Chairman at China Credit Management Association
  • Renu Bhatia, Founding Partner at SuperCharger and Asia Fintech Angels, VP at Hong Kong Blockchain Society
  • Nick Giurietto, CEO at Australian Digital Commerce Association
  • Jason Potts, Director of Blockchain Innovation Hub at RMIT University
  • Mark Shmulevich, CSO at Acronis, ex-Deputy Minister of ICT in Russia
  • Michael Sung, Professor at HKUST, Chairman at CarbonBlue innovation
  • Greg Blackwood-Lee, Chairman at Genuine Interest Ltd
  • Zach Piester, Founder at Interpid Ventures
  • Nicholas Merten, Founder of YouTube channel DataDash (160k+ subscribers)

“The conversation between the converging world of the existing economy and crypto economy is the most important one happening today. Singapore is an important node in the ecosystem. Speaking at the BEF event was a no brainier. It helps to be a part of enabling and shaping the new global economic landscape,” says Chris J Snook, Bestselling Author of “Digital Sense” and Managing Partner at Launch Haus.

1000+ attendees of the Forum will look for the answers to the most important questions of the industry today. Which institution will be affected by the blockchain technology: central banks, law firms, VCs, stock exchanges? How can existing businesses implement blockchain? How does the blockchain help to promote social and economic justice? Why are top-50 tokens worth $250 bn (ex Bitcoin)? How is tokenization putting real-world assets on the blockchain, asset classes, liquidity premium, what’s next? etc

Join the most heated and vital panels and roundtables with the industry leaders now. The early bird tickets are available at the 40% discount at bef.latoken.com

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