So following on from the recent annoucement of new bitcoin and ethereum ATM’s in Dublin and Cork as well as the closure of GSM Solutions which hosted the only other ATM in the city, I’ve been meaning to try out the latest (and as far as I’m aware only) crypto ATM in Dublin. So on a recent visit to town, I swung by Pair Mobile which is located on 32 Wicklow Street (close to Brown Thomas) to try out their ATM. Walking into the bright and clean store, I was greeted by friendly staff who pointed me to the Being Source: https://bitcoinsinireland.com/a-review-of-dublins-latest-bitcoin-ethereum-atm/
Litecoin short-term Price Analysis: 19 September
Litecoin’s price has had to endure a period of consolidation over the past week. On 12 September, the cryptocurrency’s price fell by close to 8 percent from $51 to close to $47 and since then, Litecoin has been struggling to recover its losses. However, while LTC might be gaining some positive momentum, it may note a minor dip over the coming few days before pushing north again.
At press time, Litecoin was being traded for $48.2 with a market capitalization of $3.1 billion. At the time, it was occupying the 10th spot on CoinMarketCap’s list, while registering a minor fall of 0.5 percent over the past 24-hours.
Litecoin 2-hour chart
According to Litecoin’s 2-hour chart, ever since the aforementioned price drop, LTC’s price has been confined to a descending triangle formation. The past week saw it register a downtrend as the crypto registered lower highs. Over the same period, LTC has gained considerable support from the $47-price level and if bearish pressure were to see an increase, the cryptocurrency may also have to rely on the support level at $46.
The $49-mark remains a significant point of resistance in the way of Litecoin, with respect to a complete recovery on the charts. In the next few days, the coin is likely to remain within the descending triangle formation and is likely to test its first support once again, before rekindling the possibility of a price break out.
At press time, the MACD indicator had undergone a bearish crossover and was showing the slight possibility of a reversal as the MACD line was inching closer to the Signal line. Further, the RSI, after having languished in the oversold zone, was holding fort in the neutral zone.
Interestingly, over the past 3 months, Litecoin has seen its ability to move on the price charts independently increase. This may be because the correlation between Litecoin and the word’s largest cryptocurrency has fallen from 0.86 to 0.80.
Litecoin’s price has been part of a descending triangle channel formation for close to a week now and in the coming days, the cryptocurrency’s price is likely to remain within the formation. This would include a minor dip for the coin’s price as it is likely to test the support at $47, before gaining enough momentum to initiate a breakout and head towards its immediate resistance.
“Bitcoin Is A Solid Store Of Value”, MicroStrategy Founder Testifies
The founder of Microstrategy, “the largest independent publicly-traded business intelligence company,” as it brands itself, has recently made remarkable comments about Bitcoin’s ability to scale. Michael Saylor, took to Twitter to express what can be summed up as “tried-and-tested” feedback on Bitcoin’s seamless scalability features. “Bitcoin scales just fine as a store of value,” Michael Saylor, who is obviously still very bullish on Bitcoin said.
Earlier this week, Microstrategy was making rounds in the cryptocurrency space after Saylor revealed that the company has keyed into the wave of digital currencies once again, by increasing its existing Bitcoin holdings by 16,796 Bitcoins at an aggregate purchase price of $175 million.
Michael Saylor also revealed on Thursday that another 21,454 BTC off-chain transaction was recently carried out. 78,388 off-chain transactions were made in the acquisition process, while a significantly lesser amount of 18 on-chain transactions was all that was needed to secure the acquired Bitcoins into a cold wallet for storage. On-chain transactions often require miners to make confirmations that validate the transactions. Up to 51% of the network participants must agree on the accuracy of the transaction before the ledger is updated.
When it comes to scalability, the Bitcoin blockchain has its fair share of barriers and the delay in transaction speed caused by a high volume of pending transactions has called for solutions like the lightning network. While some developers were of the opinion that block sizes should be increased for on-chain renovation, others called for off-chain improvements. In spite of this, as Saylor observed, Bitcoin is still able to carry out transactions at a good rate, even with a 7 TPS, on-chain scaling is still moderate.
Saylor has not always been a Bitcoin advocate. In 2013, the CEO linked Bitcoin to online gambling, alerting the public that Bitcoin was a time bomb waiting to explode. He can be quoted saying “Bitcoin’s days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.”
Modifying his statement in an interview with the co-founder of Morgan Creek Digital, he said; “I’m really ashamed to say I didn’t know I tweeted it, until the day I said I bought $250 million worth of Bitcoin.” So far, Microstrategy has purchased 38,250 Bitcoins since July 28th when it first showed interest in acquiring cryptocurrencies. It will no longer be surprising to see Microstrategy securing more cryptos in the future as its recent Bitcoin purchase caused a 9% rally in tandem.
European Commission to propose a new secure European e-identity for online transactions
European Commission prepares a new secure e-identity CEPS stated that the importance of the new European Commission’s digital identity rules is growing due to the Covid-19 pandemic Jared Tate said that the future of personal privacy comes from the blockchain wallet European Commission announced that it is necessary to change some parts of their digital […]
- European Commission prepares a new secure e-identity
- CEPS stated that the importance of the new European Commission’s digital identity rules is growing due to the Covid-19 pandemic
- Jared Tate said that the future of personal privacy comes from the blockchain wallet
European Commission announced that it is necessary to change some parts of their digital ID scheme for online transactions across Europe. A representative Andrea Servida recently stated that the necessity comes after they noticed some level of uncertainty in a process of creating a digital identity. This can be viewed as the European Commission’s official stance.
According to Servida, the main problem is that the users don’t know what happens with their personal data in the reality. When any platform or app asks them to create a new digital identity, a question appears: what are you doing with my private information?
European Commission concludes there is a certain level of uncertainty in the process. Thus, they started an initiative to revise the 2014 eIDAS Regulation on electronic transactions. The Commission opened a public debate in July and it will last till the first days of October.
It is expected that, after this public debate is concluded, the Commission publishes the proposal for a new e-identity scheme for the EU citizens.
European Commission’s debate will end soon
Center for European Policy Studies (CEPS), a think-tank based in Brussels, stated in their report that the importance of new digital identity rules is growing due to the Covid-19 pandemic.
Many digital service and platform providers disagree that personal data are at risk. For example, Jared Tate the DigiByte’s creator said that the future of personal privacy, as well as data protection, comes from the blockchain wallet. So there is no need for anyone to put the control in the hands of any government in the world.
DigiByte could supply the world with its apps and services
Rudy Bowman from DigiByte Foundation revealed that recently he had a few hours long chat with important figures from the top global tech companies. The main subject of their discussion was how DigiByte could help the world overcome the issue of authentication in the commercial space.
He also announced the possibility to sell the DigiByte apps and services around the world. Bowman didn’t reveal all details but stated everything will be known in the coming weeks.
CEPS insists on identity verification as critical
CEPS claimed that identity verification is a critical feature in the European economy. Their main concern is that the current regulatory framework is outdated in the environment of rapidly growing online businesses.
Current identity verification requirements present a significant financial burden on businesses and are inconvenient to customers. Despite the fact that the internet helps online businesses to grow, identity verification continues to require physical interaction in most cases.
In its report, the CEPS concludes that the world needs a user-friendly and easy to use but strong digital identity system. Without it, the economy could have costly consequences. Small enterprises and start-ups are at risk particularly.
Maybe the answer lies in DigiByte’s offering.
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