Kategorie: Crypto News

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Robert Kiyosaki says Bitcoin is a ‘bargain today … but not tomorrow’

  • World-renowned author Robert Kiyosaki shares his view on Bitcoin.
  • Pseudonymous crypto analyst sees BTC at $100,000 in 2025.
  • Bitcoin slid back under $27,000 after Fed’s rate decision today.

Bitcoin – the world’s largest cryptocurrency is a “bargain” today, says Robert Kiyosaki – the renowned author of Rich Dad Poor Dad.

Robert Kiyosaki shares his view on Bitcoin

The so-called digital gold has not been a lucrative investment over the past two months.

But the Founder of Rich Global LLC recommends seeing the recent weakness as an opportunity to build a position in the “future” at a discount. His recent tweet reads:

Gold, silver, bitcoin are bargains today … but not tomorrow. America is broke. Buy GSBC today before stocks, bond, real estate.

Robert Kiyosaki even called fiat currencies “fake money” this past weekend. Also on Wednesday, Santiment – a crypto analytics platform reported an increase in Bitcoin’s on-chain activity to levels not seen since April.

What could help propel Bitcoin price?

Note that there’s a bunch of tailwinds that could catalyse the price of a Bitcoin in the near to medium term – the pending approval of an exchange-traded fund for example.

And then of course, there’s the halving event scheduled or April or May of 2024. In fact, PlanB – a pseudonymous crypto analyst who also goes by 100trillionUSD reiterated today that BTC could hit $100,000 in about two years.

He even left the prospect for it to eventually be worth $1.0 million much like what Cathie Wood has forecast multiple times this year.

Bitcoin is currently trading at $26,900 versus its year-to-date high of $31,500 in mid-July.

The post Robert Kiyosaki says Bitcoin is a ‘bargain today … but not tomorrow’ appeared first on CoinJournal.

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CHANCER presale price set to hit $0.013 as Rollbit Coin drops 21% in a week

  • The market cap of the top gambling tokens by market capitalization has dropped by 8.86% today.
  • Rollbit Coin (RLB), the largest gambling token by market cap has dropped by 10% in 24 hours.
  • CHANCER, a cryptocurrency of a new decentralized betting platform, is rising in popularity even in its presale.

Top gambling tokens by market cap including the Rollbit Coin have taken a hit even as the crypto gambling market expands. Notably, a new decentralized betting platform, Chancer, is causing waves with its futuristic decentralized betting platform. As a result, its native token, CHANCER, has attracted the attention of crypto investors in droves.

Interested buyers are flocking to the ongoing CHANCER presale, with the token currently selling at $0.012 but expected to rise to $0.013 in the next presale stage.

What is Chancer and why the hype?

Chancer is on the verge of pioneering the world’s inaugural decentralized social betting platform. With this groundbreaking innovation, Chancer token holders will gain the ability to craft and partake in wagers tailored to their interests, expertise, and social connections.

The overarching objective of this project is to disrupt the global gambling and betting landscape by eliminating the traditional “house” and claiming a portion of the market share. Chancer is set to challenge the established bookmaking and betting business model as it gains widespread attention.

Chancer’s betting mechanisms encompass two distinct approaches: conventional Betting which involves wagers on well-known events such as NBA games or global occurrences like elections, and social Betting (P2P Betting) which allows individuals to engage in friendly competitions, whether it’s two tennis players facing off or a weightlifting contest at the local gym.

Social betting, one of Chancer’s standout features, permits people to bet on any verifiable event, opening up an array of possibilities for everyday scenarios.

The initial development phase has prioritized private bets, confined to the bettor and any additional participants, while public betting, which can be live-streamed, is the next focus for the development team. Furthermore, the product team is actively working on data validation using nodes, enabling individuals to place bets on global events like the aforementioned NBA game, ensuring transparent and actionable outcomes for payouts.

To accommodate a wide spectrum of use cases, ranging from social betting to globally broadcasted wagers, the Leaderboard User Interface is well into development. This feature empowers bettors to share their winnings within their social circles and cultivate a reputation within the broader Chancer community.

In conjunction with the Leaderboard, the User Interface team has completed work on user profiles, providing bettors with the means to engage in private and public contests seamlessly. Additionally, the Social Sharing feature, powered by Google’s WebRTC technology, enables Chancers to broadcast their bets and spark viral trends. Participation is open to anyone who meets the minimum liquidity requirement to match their odds.

To commemorate the achievement of the initial UI and UX milestones, the team is showcasing their progress on the website product page and has announced a series of upcoming updates, including Ask Me Anything (AMA) sessions with the community throughout September. The team also recently unveiled a product teaser, generating anticipation for the exciting developments ahead.

Rollbit Coin price outlook amid the drop

According to spotonchain, a whale today swapped 2.56M RLB tokens for 191.6 $ETH at $0.12 ($313K) after the RLB price dropped by 10% in 24 hours. The whale then swapped 193.31 $WETH and 192.4 $ETH for 493.14 $MKR at $1,278 on average ($630K).

Rollbit Coin price chart

However, despite the recent RLB token price drop, analysts still see a possible upward movement owing to Rollbit’s robust performance, notably in its casino revenue segment, as indicated by the insights of the prominent Twitter analyst, Miles Deutscher. There is also the record-breaking token burn rate and untapped potential in futures and sports-related revenue.

The Rollbit has recently witnessed remarkable growth, amassing an impressive $1.35 million in casino revenue within the past 24 hours, as reported by the reputable crypto and finance analyst, Miles Deutscher, on his Twitter account. This extraordinary revenue generation bodes well for the future of RLB, as it gains increasing traction in the marketplace.

Deutscher astutely pointed out the remarkable resilience of RLB’s casino revenue, which has not only compensated for the low volatility seen in the crypto markets but also proved to be consistently lucrative. This observation is of significant import, suggesting that RLB has secured a stable and prosperous revenue stream, independent of the frequently unpredictable conditions within the crypto realm.

Deutscher also shed light on the fact that the rate of token burning for RLB has reached unprecedented levels, with a staggering $5.6 million worth of tokens incinerated over the past month. Token burning, a strategic mechanism employed by crypto projects, serves to diminish the total supply of tokens, thereby increasing scarcity and potentially boosting their value. This high burn rate could be indicative of robust demand and a thriving ecosystem for RLB.

The post CHANCER presale price set to hit $0.013 as Rollbit Coin drops 21% in a week appeared first on CoinJournal.

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Cardano price: ADA poised as bears stay put

  • Cardano price was struggling to hold above $0.25 as cryptocurrencies traded mostly flat.
  • ADA has however failed to break higher since the broader market dip last year.

Cardano (ADA) is struggling for an upside push with the past week only seeing a 2.2% uptick as per data from CoinGecko at the time of writing. Indeed, ADA is down 43% since sliding lower amid the crypto winter. ADA/USD traded just above $0.25 on Wednesday afternoon.

With the cryptocurrency largely negative, the market outlook amid the historically slow September doesn’t look particularly promising for bulls. Data on DeFiLlama shows Total Value Locked (TVL) in assets on the chain has declined 8% in the past month to $152 million.

However, as Bitcoin is poised above $27k and altcoins are showing signs of waking up, a spike in volatility could help ADA buyers. But will bears give up territory?

Cardano price outlook

A look at Cardano’s performance over the past week we see sellers have largely shown resilience around the $0.25 level. The daily chart has Cardano facing rejection at the 20-day EMA, and this moving average remains critical to bullish plans.

Chart showing price of Cardano (ADA)

The daily RSI also gives sellers a slight advantage as it hovers below the 50 mark. This leaves bulls facing a daunting task of pushing for the $0.28 level for a breather and potential upside joy.

On the flipside, a breakdown beyond 40.24 will open a path for a bearish retest of support in the $0.22-$0.20 region.

The post Cardano price: ADA poised as bears stay put appeared first on CoinJournal.

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Coinbase says Zcash risks 51% amid ViaBTC control

  • ViaBTC controls more than 51% of Zcash hashrate, Coinbase said in a report.
  • The mining pool’s control of over half of hashrate poses risk of a 51% for the Zcash network.
  • Coinbase has taken measures to protect users, including increasing Zcash confirmation threshold to 110 blocks.

A report by the Coinbase security team claims that the network hashrate distribution for proof-of-work cryptocurrency Zcash (ZEC) is significantly imbalanced. Specifically, more than 51% of the hash power distribution is controlled by a single mining pool – ViaBTC.

Risk of 51% attack

Coinbase said in a blog post today that following the observation, its team moved to try to mitigate potential risks by putting in place several measures. With centralisation risks likely to emerge from this – a 51% attack in this case – the US-based company said it had increased Zcash transaction confirmation threshold to 110 blocks.

The increase means Zcash deposit time increases from about 40 minutes to 2.5 hours, with this intended to reduce the risk of network manipulation in terms of transaction double-spend or fraud.

Coinbase has also moved the Zcash markets “limit-only” as part of reducing potential impact of volatility. The exchange has also reportedly engaged both ViaBTC and Electric Coin Company, the developer group behind Zcash as it advocates for a more decentralised mining distribution for ZEC.

“We shared our concerns around the risks of mining centralization and provided recommendations for various options that either party could implement to reduce the risk of a 51% attack,” Coinbase’ security team wrote.

Zcash developer ECC acknowledged the concerns raised by Coinbase, confirming discussions had been undertaken. 

A 51% attack in PoW blockchains can occur when more than 50% of the network’s computational power (hashrate) falls under the control of a single miner or mining pool. In this case, the entity can leverage the hash power to execute double-spend attacks or censor transactions in what could result in loss of user or exchange funds.

Some of the top 51% attacks to happen in the crypto space include Ethereum Classic, Bitcoin SV, Bitcoin Gold, Verge and Vertcoin. 

ECC plans to move Zcash to a proof-of-stake consensus mechanism, a feat that Ethereum achieved with its Merge milestone in September 2022.

The post Coinbase says Zcash risks 51% amid ViaBTC control appeared first on CoinJournal.

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cheqd has launched Credential Payments, a new feature of its Credential Service

  • cheqd (cheqd.io) is a privacy-focused payment and credential network that empowers users and organizations to take control of their data.
  • It leverages Decentralized Identity (DID), Self-Sovereign Identity (SSI), and Digital or Verifiable Credentials (VCs), to establish Trusted Data markets as a novel industry category.
  • cheqd’s technology is reshaping Trusted Data economies, including reusable KYC in Web3 and preference data markets.

cheqd, a startup focused on enhancing user and organizational control over identity data, has introduced Credential Payments, a new feature within its decentralized network and SaaS product, Credential Service. This development enables individuals and organizations to receive compensation for sharing their identity data while preserving their privacy. It also lays the foundation for Trusted Data markets, a nascent industry category.

Credential Payments represent a pioneering feature in Self-Sovereign Identity (SSI), allowing on-chain settlements for Trusted Data that remains off-chain to safeguard privacy. This innovation enables users to securely exchange and transact their verifiable Trusted Data while protecting their privacy.

Expansion of cheqd services

cheqd offers various products and tools designed to facilitate seamless integration with the network’s identity and payment functions. Credential Service, for instance, is a scalable solution that simplifies the process of incorporating decentralized identities into existing applications. Additionally, a range of SDKs is available for more advanced users.

The launch of Credential Payments holds the potential to unlock new business models and address the cold-start problem on the supply side, thus promoting the adoption of SSI. Organizations now have a direct financial incentive to issue credentials and Trusted Data, as Credential Payments enables recurring revenue from reused credentials.

As the cost of making credentials available to verifiers and receivers decreases compared to existing alternatives, more issuers are likely to enter the market, expanding its coverage. This creates a network effect as both sides of the market work to attract more participants.

cheqd’s identity network for payments has numerous use cases, with particular relevance in Finance and Education.

Value of Self-Sovereign Identity (SSI) in the AI era

SSI is poised to provide a valuable solution, particularly in an era of increasing regulatory scrutiny that requires global organizations to be responsible and accountable for user data.

Regulations such as the EU’s eIDAS 2.0 highlight the need for secure means to exchange identity data and attestations using Verifiable Credentials. Moreover, the rise of generative artificial intelligence has raised concerns about fraud, making it crucial for businesses to verify individuals using trusted data.

cheqd’s research suggests that the global SSI market could eventually exceed half a trillion dollars in value.

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