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Saudi Arabia allocates $15m for Rohingya refugees

September 19, 2017 Middle East Monitor 0

Saudi Arabia’s monarch King Salman Bin Abdul Aziz Al-Saud has ordered the allocation of $15 million to alleviate the suffering of Rohingya Muslims who fled persecution in Rakhine state of Myanmar. The Saudi Royal court adviser and general supervisor of the Riyadh-based King Salman Center for Relief and Humanitarian Aid, Dr Abdullah Bin Abdulaziz Al-Rabiah, “a specialized team from the centre will be heading to Bangladesh within the coming few hours to make an assessment of the condition of Rohingya refugees there and to find out what are the essential requirements that are to be made available to them urgently, as well as to extend assistance in terms of relief, humanitarian help and shelter.” “As per the directive of the King, […]

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One month is left before Blockchain Life 2017 – the biggest conference on bitcoin, blockchain, cryptocurrency, and mining in Russia.

September 19, 2017 will 0

Rapid growth of new and already popular cryptocurrency, legalization of online exchanges, lifted ban on cryptocurrency advertisement online, and many other new projects based on blockchain in different technological areas – this is all happening in the latest month in the most popular market our days – cryptocurrency and blockchain market. Blockchain Life 2017 is… View Article

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Bitcoin Price Analysis: Amid Continuing China Rumors, BTC Fails to Break Key Resistance

September 19, 2017 jody 0

When it rains, it pours. Last week, news began to hit the crypto community that China was taking harsh measures to reign in their various cryptocurrency exchanges. Several exchanges closed down and others were given a deadline to properly cease trading operations. This news came hard on the heels of recent directives that banned ICOs in China, leading to dramatic drops in cryptocurreny prices across the board.After this latest news settled, bitcoin managed to slightly rally before topping out around $4100. However, early this week, rumors began to circulate that executives associated with Chinese exchanges are being prohibited from leaving China. At the time of this article, BTC-USD is sitting just at $3900 and is showing signs of further pullback:Figure 1: BTC-USD, 12-Hour Candles, GDAX, Macro Fibonacci Retracement ValuesThe figure above shows the whole, macro bull run from the $1700s. One important feature of the trend shown above is the 61% retracement down to the $2900s. The retracement down to such a low value shows that sell pressure is very strong in the current market and hints toward bullish exhaustion within the macro trend. Another key feature to note is the following:Figure 2: BTC-USD, 2-Hour Candles, GDAX, Failed 100% RetracementAn important test of this rally was the 100% retracement of the bear run, post-China news. Sitting just below the 23% Fibonacci Retracement lies the bear run. The test of the 100% retracement is important because that resistance line marks a strong shift in market sentiment. A failure to break through those values shows that, even though there was a strong rally, the market is still bearish in nature and is likely to continue. Figure 2 also shows several tests and rejections of the 2-Hour 200 EMA (Exponential Moving Average). The 200 EMA is a common tool used among traders to objectively view the state of the market compared to the prior trends. A trend existing below the 200 EMA is bearish in nature, and trends that show support on top of the 200 EMA are bullish in nature. At the time of this article, the BTC-USD is displaying two failed tests of key resistance levels and its showing little sign of upward pressure. Currently, the trend is sandwiched between the 200 EMA and the 50 EMA. Both moving averages can used in conjunction to gauge just how strong the market is. Like the 200 EMA, the 50 EMA shows short-term bullish and bearish trends relative to the EMA line: Trends above are showing bullish traits, and trends below are showing bearish traits. Right now, we are in the middle of a crucial test of both support and resistance lines as the market decides where it will go next. A break below the 50 EMA will ultimate show the long-term bearish intent of the market and will lead to tests of the low support values:Figure 3: BTC-USD, 1-Hour Candles, GDAX, Support Levels for Current RallyAt the moment, BTC-USD is making its third test of the current rally’s 23% retracement values. A break below this line will have bitcoin testing the macro 38% retracement values in the $3700s. If bitcoin manages to break the 38% retracement values somehow, there will be strong support around the $3400s as the 50% macro Fibonacci Retracement values (shown in Figure 1) have historic significance and support.If bitcoin is going to see any significant price growth within this rally, it will have to pick up some major buy volume and break through very strong, historic resistance values. It’s extremely unlikely that, given its repeated failures to break resistance and the inherent bearish news looming over the Bitcoin community, BTC-USD will shove to new highs without strongly testing lower macro support.Summary:BTC-USD had a strong rally, but ultimately topped out around $4100.At the moment, BTC-USD is testing macro support levels and shows very little, significant upward strength.Should we break support in the $3900s, we can expect a test of the macro 38% Fibonacci Retracement values in the $3700s.Trading and investing in digital assets like bitcoin, bitcoin cash and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.The post Bitcoin Price Analysis: Amid Continuing China Rumors, BTC Fails to Break Key Resistance appeared first on Bitcoin Magazine.

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Trump’s chance to reshape the Federal Reserve could be his biggest economic legacy

September 19, 2017 cody 0

WASHINGTON — President Donald Trump is betting he can turbocharge the U.S. economy with tax cuts and trade deals, but his greatest leverage to influence growth may rest with an unparalleled opportunity to reshape the world’s most powerful central bank. Because of a wave of vacancies, Trump will have the ability in the coming months […]

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Could Kurdish Independence Spark An Oil War?

September 19, 2017 Zainab Calcuttawala 0

As the date of the Kurdish independence referendum approaches, oil industry moguls should be concerned about an oil production war between Iran and headless Iraq. The Kurds are expected to vote on their political status in late September. A vote in the affirmative would mean that Iraq would lose a chunk of its northern areas, which includes the crucial Kirkuk oilfield and its surrounding reserves. The latest news from the election committee shows that the Kurdistan Regional Government (KRG) is doing the most it can to increase international participation…

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Pick n Pay Double Take? The Supermarket Chain Isn’t Accepting Bitcoin, It Tested It

September 19, 2017 BitNewz.net 0

South Africa’s second-largest supermarket chain tested bitcoin payments earlier this year, but is thus far declining to roll out a broader option.

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Pick n Pay Double Take? The Supermarket Chain Isn’t Accepting Bitcoin, It Tested It

September 19, 2017 Rachel Rose O'Leary 0

South Africa’s second-largest supermarket chain tested bitcoin payments earlier this year, but is thus far declining to roll out a broader option.

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Pick n Pay Double Take? The Supermarket Chain Isn’t Accepting Bitcoin, It Tested It

September 19, 2017 Seth 0

South Africa’s second-largest supermarket chain tested bitcoin payments earlier this year, but is thus far declining to roll out a broader option.

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GoldMint and the Future of Gold Ownership

September 19, 2017 BTC STUDIOS 0

GoldMint Header

Reflecting gold’s historical repute as a scarce and valued
resource, Bitcoin has become known in many investment circles as “digital
gold.” With its unprecedented rise, Bitcoin’s worth is now estimated to be
about twice that of an ounce of physical gold.

On August 7, 2017, the startup GoldMint was launched with the intent of ushering
in a new digital era of gold as a store of value. This project aims to provide
a unique set of gold ownership solutions for cryptocurrency investors and
enthusiasts worldwide. It is
holding an initial coin offering (ICO) that starts in less than
12 hours. 

The GoldMint
project reaffirms the notion that physical gold is a respected method of
payment and wealth preservation, all tied to its value and scarcity. Gold
ownership, however, requires expensive security, safekeeping and insurance.
GoldMint’s innovative approach seeks to address these inherent issues.

GoldMint
purchases, sells and repurchases their native digital asset called

“GOLD,” which is
100 percent backed by physical gold. It features an Exchange Traded Fund (ETF)
which can be utilized as a payment and investment tool for both companies and
individuals in hedging risk.

Capitalizing off
of the inherent advantages of its physical counterpart,

GOLD tokens offer
a stable, transparent, non-volatile means of buffering one’s crypto portfolio
from wild market swings. Here, GoldMint is committed to ensuring that GOLD
delivers consistent value through paper assets like ETFs and futures as well as
through physical assets. Moreover, GOLD owners will be able to use their tokens
to secure guarantees, loans and escrow services, all at a modest 5 percent
purchase and 3 percent sale fee.

GoldMint will
also deliver a utility token known as “MNT” to facilitate operations, implement
smart contracts and incentivize block creation and transaction confirmation.

During the early
stages of this project, MNT will be sold and distributed on the Ethereum
blockchain. After the MNT distribution has taken place, Goldmint will launch
its own Graphene -based Proof-of-Stake (PoS) blockchain that offers a safer,
more productive and faster experience.

Minting the Blockchain

GoldMint utilizes
a blockchain ledger to execute trades, loans and investments for profit. The
following are what make the GOLD crypto asset unique:

  • 100 percent
    information transparency relative to all GoldMint GOLD. The company discloses
    its gold reserves, fostering the opportunity to buy back GOLD at its current
    trading price.
  • GoldMint utilizes
    the decentralized blockchain for smart contracts and for its crypto assets.
  • ETFs are used for
    liquidity and elasticity facilitating gold trades which are far faster than
    those of physical gold.
  • Secured loans can
    be leveraged with GOLD, like jewelry or coins. GoldMint assists in the storage
    of this collateral through its unique Custody Bot, a blockchain-connected robot
    used for inspection, temporary and long-term storage and the transfer of
    physical gold, jewelry, coins or gold bullion.
  • Members have the
    ability to earn passive income as the market price of GOLD rises.
  • An option which
    allows for the buyback of GOLD for fiat according to the current price of GOLD.
  • A fast and
    efficient user registration and identification system.

To support merchants and developers,
GoldMint is in the process of releasing an application programming interface
(API) for the development of third-party apps and other interfaces. Use of this
API will allow online stores to accept GOLD as a payment method, enable loans
to be secured by banks and provide access to services such as escrow accounts
and financial guarantees.

The Goldmint Team

Goldmint is led by CEO Dmitry
Plutschevsky, who co-founded Lot-Zoloto — a gold trading company based in
Russia with trading transactions totaling $100 million in 2017 — with
former banker Konstantin Romanov. Serg Umansky, head of portfolio management at
Whiteridge Investment Funds, Alex Butmanov, managing partner at DTI and Julian
Zegelman, managing partner at Velton Zegelman, are among the advisors of the
company

GoldMint founders predict that its unique
value proposition will disrupt the billion-dollar gold market, allowing
GoldMint to establish itself as a market leader in the coming cryptocurrency
revolution.

To learn more about GoldMint and
participate in its token sale, visit its website,
read the white
paper
and follow the company’s social media channels on Facebook and Twitter.

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