Source for BlockChain News

Monthly archive

September 2019

Bitcoin (BTC) Finds the Hurdle Again, Plunges 12% Quickly

by
Bitcoin

Bitcoin

Bitcoin (BTC) has been in the middle of a rollicking bull run for 2019 so far, and the virtual currency has managed to touch levels that would not have been thought possible last year. However, the announcement from Facebook about the launch of its own cryptocurrency Libra proved to be a new disruption of sorts in the cryptocurrency space.

While many thought that Libra was going to end up as the major competitor against many digital currencies currently in existence, it now seems that it could be in a bit of trouble with the relevant regulators.

Powell Raises “Serious Concerns” About Libra

In a new development, the Chairman of the Federal Reserve, Jerome Powell, has stated that he has ‘serious concerns’ about the Facebook-backed cryptocurrency and added that there should be keen scrutiny of Libra. The comments had an immediate effect on Bitcoin, and other major cryptocurrencies as all of them slumped on the back of these comments.

When the most important financial regulator in the world states that he is concerned about a particular cryptocurrency, then it is an indictment on the entire sector, and hence, it was a not a surprise that a massive selloff ensued across the crypto sphere today.

>> TRON’s CEO Debunks Association with Billion Dollar Ponzi Scheme Scam

Sell-Off Across the Board

All the major cryptocurrencies dove today as Bitcoin slumped by as much as 12.80% to hit $11,490, while Litecoin declined by 19% to hit $100.21. On the other hand, XRP and Ethereum sank by 17% and 13.70% respectively. Powell stated that Libra raises “serious concerns regarding privacy, money laundering, consumer protection, and financial stability.” Such a comment from such a powerful regulator is bound to have such a reaction, particularly at a time when most of the world’s major cryptocurrencies are looking for regulatory clarity.

As a matter of fact, Fidelity has even opened up a fund for its institutional investors by way of which they can invest in Bitcoin. However, without regulatory clarity, it could cause a bit of uncertainty.

Featured image: DepositPhotos © KostyaKlimenko

If You Liked This Article Click To Share

Crypto Blacklist | Belgium Updates List of Crypto Fraud Websites

by
crypto blacklist

crypto blacklist

Belgium’s Financial Services and Markets Authority (FSMA) has updated its crypto blacklist.

According to an official statement made today, the government body has added seven crypto trading platforms to it.

Crypto Blacklist

The crypto blacklist is comprised of websites and/or platforms associated with fraud or that show signs of fraudulent behavior. Effectively, these websites are known to scam investors or seem suspicious.

The previous crypto blacklist was released in December 2018 and listed a total of 113 websites. Now, that list has grown to 120.

Vigilance

Despite the availability of the list and the continued efforts to warn investors against fraudulent sites, the financial authority said that it continues to receive complaints from traders who invested cryptocurrencies on fraudulent sites.

Further, the authority warned that the crypto blacklist is comprised of websites that it is aware of or that have been reported. It does not contain every possible scam out there as, most likely, many more are yet to be uncovered. As such, investors should reference the list but always remain vigilant.

“The regulator warned that the blacklist does not include all the companies that might be operating illegally in Belgium in the crypto industry.”

Risks of Crypto Investing

According to the Belgian financial authority FPS Economy, a study showed that in 2017, Belgian investors lost approximately $2.5 million USD to crypto scams. This equates to 4% of the total amount lost to crypto fraud cases with estimations nearing $152 million USD. Figures such as this highlight the importance of careful trading.

>> Blockchain and Its Impact on Communications and Beyond

To help combat the issue, the European Union launched the International Association of Trusted Blockchain Applications (INATBA) in Brussels, Belgium. With more than 100 member companies signing the charter, INATBA aims to bring together all areas of industry, from startups to big enterprises, to regulators, to bring blockchain and distributed ledger technology into the mainstream.

The group places an emphasis on trusting each other in business. European Commissioner for Digital Economy and Society, Mariya Gabriel, said the following:

“In today’s economy, there is less and less time to build trust in the way it happened in the past. To fight cancer, to balance renewable energy, to trace the authenticity of goods, actors must be able to trust one another without meeting face-to-face. And how can we achieve this? Of course, with the help of blockchain.”

Be careful trading out there. There is a crypto blacklist, and it’s been made for a reason!

Featured Image: DepositPhotos © 8vfanDP

If You Liked This Article Click To Share

Bitcoin Transaction Worth $1 Billion USD Moved to Single Wallet

by
Bitcoin

Bitcoin

Over $1 billion USD worth of Bitcoin was transferred to one wallet today in a major transaction, making it the fifth richest Bitcoin wallet in existence.

The Richest Non-Exchange Address

A group of large-scale Bitcoin owners, known as whales, moved 94,504 Bitcoins to an unknown wallet, which now becomes the richest non-exchange address, as well as the fifth richest overall. The amount is equal to 0.5% of all the Bitcoin currently in existence. It is not yet entirely clear where the transaction originated from; however, TokenAnalyst believes that at least one third came from the Huobi exchange, while Glassnode claimed that approximately 73,000 BTC came from Huobi.

What was This Transaction For?

The reason for today’s huge movement of BTC remains unknown; however, some analysts and experts have speculated that it could be attributed to the launch of Bakkt Warehouse’s deposits and withdrawals, which took place today. Some more cynical speculators have guessed that it could be a result of the fallout from the PlusToken Ponzi scheme that defrauded users of nearly $3 billion USD, 50% of which was processed by Huobi. Even stranger was the high transaction fee of $700, which suggests the involved parties had speed and security as a priority.

While little is known about these major whale movements, they have become increasingly frequent in recent months. Less than two weeks ago, approximately $700 million USD worth of BTC was transferred into three unknown wallets, and less than 24 hours after, there was an additional movement of $133 million USD of BTC. These transactions add fuel to the theory that they are diverted funds from the PlusToken Ponzi scheme; however, it is impossible to know for sure.

>> LINE Gets Crypto Exchange License from Japan Regulators

BTC Rises Again

Unsurprisingly, the transaction and subsequent attention boosted Bitcoin’s value from $10,569 to $10,790, which coincides with a report from The Independent that Bitcoin price rose by more than $1,000 USD following a record-breaking number of searches for the term “BTC”. Price trends in recent years have shown a direct correlation between increased search engine attention towards Bitcoin and rising BTC value.

Featured Image: Deposit Photos © spaxiax

If You Liked This Article Click To Share

LiteLink Announces Launch of PerfectRoute, a Route Planning and Fleet Optimization Solution

by

VANCOUVER, British Columbia, Oct. 15, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B, a key player in logistics and payment solutions, is pleased to announce PerfectRoute, a delivery route planning and fleet optimization solution for all types of vehicles designed for last-mile delivery, powered by the 1SHIFT Logistics platform.

With the global route optimization software market expected to reach US$5.07 billion by 2023, compounded with today’s increasing pressure to lower costs of transportation and logistics.

Route optimization will be provided to enterprise customers via Litelink’s flagship 1SHIFT platform, but also as a standalone offering in a simple monthly subscription format under the second brand ‘Perfect Route,’ guaranteeing the best route for any delivery to achieve the lowest delivery costs.

1SHIFT’s route and truck optimization features will be available to the mass market this quarter in 2019, which customer trials currently taking place at this time.

PerfectRoute is a true self-service SaaS offering from Litelink focused on user simplicity and immediate response of the best fit optimized route to take. To access this feature, any user can upload any number of pickup and drop-off locations, and simply click ‘Optimize’ to generate the most efficient planned route to take. The key differentiator is a ‘truck optimizer feature’ that estimates how many trucks are required to ship al customer orders minimizing wastage and cost.

“While onsite with a customer implementing our flagship platform 1SHIFT Logistics, we noticed the time and effort being spent each day manually figuring out how many trucks and customer orders were required for planned truck routes. It is clear the owners are very reliant on two critical resources and an array of manual steps,”

stated Shanila Karim, head of 1SHIFT Customer Success.

“We are very excited about the launch of our new product PerfectRoute, which will solve some of the key biggest challenges faced by last-mile delivery businesses,” said LiteLink CEO Ashik Karim. “Litelink can continue to focus on rolling out 1SHIFT Logistics to enterprise clients, and now capture even a larger market with a subscription based high value solution like Perfect Route.”

To learn more about PerfectRoute, schedule a demo of the solution or request a 14-day free trial, please visit https://1shiftlogistics.com/1shiftrouting2/ or email kent.churn@1shiftlogistics.com.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. Our route planning and fleet optimization platform PerfectRoute is designed to help last-mile delivery companies better plan deliveries with higher truck utilization.

Forward-looking Statement

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules, and regulations.

Please visit the company’s website at litelinktech.com. For a free report on LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0Bvisit cryptocurrencynews.com.

Please See Disclaimer

 

Go to Top