Wednesday, September 12, 2018

Diving Bitcoin and cryptos, SEC is rife :

The main cryptocurrencies continue their plunge, Bitcoin and Ethereum in the lead, while the US authorities are cracking down on several players in this crypto-active market. On a week, the BTC gives up nearly 14%, back to $ 6.304 according to Coinmarketcap, for a capitalization of $ 109 billion.

Recall that Bitcoin had a peak of nearly $ 20,000 in December 2017. The frenzied speculation on cryptocurrency had then attracted a lot of novices interested in rapid gains in this market of 'cryptos'. Since then, the BTC has lost two thirds of its value and the altcoins also show, for the most part, very large corrections.

New sanctions of US regulators
The SEC and the Financial Industry Regulatory Authority (FINRA) are taking a more concrete step against some unscrupulous actors in the sector. Several fines and a complaint were revealed at the beginning of this week. The SEC sanctioned Crypto Asset Management, which claimed to be regulated and correctly registered, for $ 0.2 million. The 'CAM' fund was marketed as the "first regulated fund of crypto-assets in the United States". The California fund and its manager Timothy Enneking had raised more than $ 3.6 million over a four-month period at the end of 2017. After being contacted by SEC teams, CAM stopped its offer to the public and offered investors redemptions. affected, says the US market authority.

The leaders of TokenLot, a firm active in cryptocurrency fundraising, will be required to repay $ 0.5 million and face a fine of $ 0.1 million. They were not properly recorded either.

Finally, FINRA filed a complaint against Timothy Tilton Ayre, who fraudulently introduced the 'crypto' HempCoin. This case represents the first disciplinary action of the regulatory authority involving cryptocurrency. We want to say it was high time! Over the period from January 2013 to October 2016, Timothy Tilton Ayre attempted to attract investment in a non-real-valued company, Rocky Mountain Ayre, Inc. (RMTN), by issuing and selling HempCoin, which he presented. as 'the first virtual currency backed by marketable securities', and by making fraudulent positive statements about RMTN's business and finances. RMTN was listed on OTC Markets Group's 'Pink Market'.

Two suspended trackers
The US financial market watchdog has also suspended Bitcoin Tracker One and Ether Tracker One, citing investors' confusion over assets related to these trackers. Brokers still allowing trading of these financial instruments are obviously subject to sanctions. Both instruments were suspended Sunday. The suspension must last at least until September 20th.

SEC does not want ETFs
The month of August had already been marked by the decision of the US Securities & Exchange Commission to reject no less than nine ETF proposals - index funds indexed on Bitcoin. The SEC announced on August 23 the rejection of the 9 ETF projects from three different issuers (Direxion had proposed 5 ETFs, GraniteShares and ProShares each had two products). The American authority evoked to justify the small size of the market, as well as the lack of assurances concerning product safety.

The US market policeman is particularly concerned about the risks of fraud and manipulation. Nevertheless, the SEC may not have said its last word and should re-examine the ETF proposals. The subject remains crucial for the democratization of the market, and speculation on ETFs had brought Bitcoin on $ 8,000 in July, before a relapse.

The Ethereum victim of ... his own founder
The Ethereum plunges for its part of 38% over a week, back to $ 173. Thus, the capitalization of the second cryptocurrency is only 18 billion dollars. It must be said that Ethereum co-founder Vitalik Buterin confessed to Bloomberg this weekend that the explosive growth period of the blockchain industry was probably behind it, now that the average citizen is aware of its existence. .

Buterin has therefore demonstrated a good franchise, explaining that growth opportunities 'X1000' no longer exist according to him. The growth of 'cryptos' would even be close to a ceiling. The next step would be to get people interested in real applications ...

In an interview with Bloomberg on the occasion of the Ethereum Industry Summit in Hong Kong, Buterin adds: "The blockchain space comes to a point where a ceiling is in sight".

"If you talk to the average educated person at this point, she probably heard about blockchain at least once." By the way, while the growth of Bitcoin

Tuesday, September 11, 2018

The crazy appreciation of the crypto-currencies, it is finished assures the co-founder of Ethereum :

Bitcoin and other virtual currencies hit record lows on 5 September after Goldman Sachs announced the abandonment of its market-building project. It's time to improve the systems, applications and protocols infrastructure says Vitalik Buterin.

The valuation of bitcoin recovered slightly yesterday after falling to its lowest price since June. Still other crypto-currencies continue their plunge (-76% this year for Ethereum). And the co-founder of Ethereum says that the days of crypto-growth are behind us.

Bitcoin, a true reference in the world of cryptocurrency, and other virtual currencies hit a low on September 5 after the announcement by Goldman Sachs of the abandonment of its project of creating market place for Bitcoin .

This project raised the enthusiasm of a considerable number of people holding cryptocurrencies. They believed that the credibility of this bank would thus generate increased demand for this type of currency from institutional investors. Which would have appreciated their price.

"The space of the blockchain reaches the point where there is a ceiling in sight"
And as if to blacken the picture, Vitalik Buterin, the co-founder of Ethereum, told Bloomberg that the era of the explosive growth of the blockchain industry was probably over.

"The space of the blockchain reaches the point where there is a ceiling in sight," said Vitalik Buterin. "If you're talking about someone educated now, he probably heard about the blockchain at least once, so there's no more opportunity to multiply by 1,000 the growth of everything in the library. blockchain space now ".

Vitalik Buterin remains positive, however. He notes that while the strategy to promote blockchain technology and crypto-money to the general public is now stalled, it is time to improve the infrastructure of decentralized systems, applications and protocols to encourage consumers interested in this technology.

Ethereum founder: "Blockchain space growth has reached its ceiling" :

According to Vitalik Buterin, the era when blockchain space was growing strongly is now over. The next step would be to get people interested in "getting more involved".

In an interview with Bloomberg, at the Ethereum Industry Summit in Hong Kong, co-founder Ethereum cryptocurrency Vitalik Buterin spoke about the future of the blockchain ecosystem.

According to him, growth "has reached its ceiling". Mr Buterin said:
"The blockchain space has reached its ceiling. Today, if you talk to someone in the blockchain, she's probably heard about it at least once. There is no more opportunity to multiply by 1000 the growth of all that is in space. "

He then explained that the growth of Bitcoin and other crypto-currencies depended on marketing and adoption attempts for many years but that this was no longer relevant.

"This strategy is about to reach a dead end. The next step is to go from interested people to applications in real economic activity. "

Since the end of July, the Ethereum price has fallen sharply from $ 470 to less than $ 200 in just 45 days.

Last week, the market saw a general decline following the publication of a news announcing the postponement of Goldman Sachs' Bitcoin trading desk. However, the announcement was quickly denied by the director of the US investment bank. The market is not rising again and some experts took the opportunity to recall that the news influenced less and less prices in the cryptocurrency market.

In this regard, Mr Buterin commented:
"Honestly, I do not think that stuff matters a lot. On the one hand, I would be happier if the institutional trade in cryptocurrencies did not occur in the next 5 years. In the end, if cryptocurrency is kept by millionaires to buy and sell, then what have we really accomplished? "