IOTA technical analysis

IOTA seen from the temporality of 1D we can see how the structure of candles during the previous LL formed a downward parallel channel where it has finally broken it up and tested correctly to then see the current bullish impulse of the current candle which has found resistance at 0.3161, the candle is forming a doji, a bearish signal by which we must prepare for a retreat to the nearest demand level located at 0.2716, the wick has already touched that point, however, we need a candlestick approach in order to determine if the price will continue to rise beyond resistance, in the chart above I have drawn the possible trajectory that the price should follow during its advance to our first target which is located within the price range of 0.3797 – 0.4034.

IOTA seen from the temporality of 1W we can see a broader view of the current price movement, in the image above we can see how the price has formed us an HL, marked on the chart with the diagonal trend of dark blue, after two candles bullish low volume, this week the candle has “shot” powerfully, the consolidation within this range has been long throughout this year, which gives us an indicator that in a short time we could see an upward break in the resistance of the figure we see in the graph, for this to happen we would have to mark an HH and a new HL above the resistance located at 0.3161, if this happens, the alarms on a much larger next bullish move will be very high, the next profit targets are indicated within the chart, with the second target located at 0.7202 and the third target located within the price range of 0.9348 – 1.0904.

In conclusion, the IOTA price has moved very well this week, it needs to stay above 0.2716 and above the diagonal support if we want to continue seeing a next bullish candlestick, otherwise the price could fall towards the area of possible pullbacks indicated in the 1W chart, the bullish possibilities are greater than the bearish ones, as we must always be attentive to the action of the price in 1D and 4H and look for the best entry, I also recommend to be attentive to the action of the BTC price, as the price position is not yet decided, so any jolt on the part of BTC would affect the whole market.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

🗞 Daily Crypto News, September, 19th💰

  • New Bitcoin Mutual Fund Eases Crypto for Wary Asian Investors ;
  • Everyone’s Worst Fears About EOS Are Proving True ;
  • Bitcoin Bulls in Danger as Price Drops $500 in Minutes Back Under $10K ;
  • Binance to Add Fiat-to-Crypto OTC Trading in a Month, Co-Founder Says ;
  • SEC Charges Token Sale Platform For Illegal $14M Securities Offering ;
  • 📑 Daily Crypto Calendar, September, 19th💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 New Bitcoin Mutual Fund Eases Crypto for Wary Asian Investors

Hong Kong-based venture capital group CMCC Global launched its Liberty Bitcoin Fund to provide crypto currency access to accredited investors in Asia who are very interested but have been slow to buy the coins directly.


The Liberty Bitcoin Fund is a single-asset passive tracker of Bitcoin and offers services including buying and safekeeping coins.


“We have received more and more questions over the years from our existing investor base about whether we could help them buy Bitcoin,” Martin Baumann, managing partner of CMCC Global, told CoinDesk. “The new fund is really a demand-driven.”

🗞 Everyone’s Worst Fears About EOS Are Proving True

The Takeaway:


EOS is the world’s seventh-largest blockchain by market cap, with a value topping $3 billion since February 2019.
However, the project has long been plagued by fears that its structure was too centralized, and now the lion’s share of entities that govern the chain are in China, prompting fears of state intervention.


EOS contributors devoted to building decentralized apps (dapps) and development tools for the blockchain are losing clout – and making little or no money from contributing to the health of the ecosystem. One of them publicly disavowed the blockchain earlier this month, citing the excessive power of the largest EOS token holders.


Block.One, the company that launched the code behind EOS following a $4.1 billion ICO, is the largest token holder. Critics say it could easily redefine governance on the chain but has yet to take action.

🗞 Bitcoin Bulls in Danger as Price Drops $500 in Minutes Back Under $10K

For the past few days, the price of Bitcoin (BTC) has been hovering above the 20 Moving Average (MA) and drawing closer to the moving average as volume continued to taper off and lower highs were set each day. 

Crypto Market Data

The digital asset began to look bearish on multiple time frames and it seemed that a downward move was more likely than any other outcome. Once the 12 Exponential Moving Average (EMA) dropped below the 26-EMA on Sept. 16, aggressive intraday traders correctly predicted a double bottom bounce at $10,075. 

BTC/USD 6hr Chart

🗞 Binance to Add Fiat-to-Crypto OTC Trading in a Month, Co-Founder Says

Crypto exchange Binance is planning to add over-the-counter (OTC) trading to its platform in a month to provide users with fiat currency gateways.


Binance’s co-founder and chief marketing officer He Yi said at a media session on Tuesday during the Shanghai Blockchain Week that the exchange will specifically support fiat on-ramp via OTC for Chinese yuan.


He added that the new service will be part of Binance’s plan in the coming months to dedicate more time and resources to compete in the Chinese market. Further, the exchange is also rolling out a payment service to allow users from 170 countries to buy crypto assets using fiat currencies at Binance.com.


Fiat-to-crypto OTC trading has been a critical part in terms of fiat on-ramp for crypto traders based in China as local authorities prevent the direct connection of exchanges to banks and fiat deposits as part of the ban on initial coin offerings in September 2017.

🗞 SEC Charges Token Sale Platform For Illegal $14M Securities Offering

The United States Securities and Exchange Commission (SEC) has sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal securities offering and for acting as unregistered brokers.


SEC says ICOBox’s digital tokens are worthless


In a press release on Sept. 18, the SEC claimed that ICOBox and Evdokimov sold the firm’s ICO tokens to more than 2,000 investors in an unregistered coin offering in 2017.


The SEC goes on to say that the defendants claimed that the tokens would increase in value upon trading and that ICO token holders would be able to swap them at a discount for other tokens promoted on the ICOBox platform. The SEC claims that the ICO tokens are now virtually worthless, adding:


“By ignoring the registration requirements of the federal securities laws, ICOBox and Evdokimov exposed investors to investments, which are now virtually worthless, without providing information that is critical to making informed investment decisions.”

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📑 Daily Crypto Calendar, September, 19th💰

On Thursday, 19 September 2019, VexGift expense wallet can be converted to VP so you can use it to redeem vouchers and lucky draw.

Charles Hoskinson and Nathan Kaiser from CF to speak at the event.

Open Core Summit 2019 in San Francisco from Sep 19-20.

“Attention Zurich! We invite you to join our workshop on September 19! Spend your Thursday evening exploring Waves’ technology…”

“The next meeting is to be held at LTO office, and results to be presented on September 19.”

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

Yesterday I was talking to you about a W pattern which is a bullish signal. Look today the acceleration of the move. We could go test the resistance line at 0.178$ very soon and it would be a very good news if we can break it. Let’s wait my friends and let’s hope the BTC won’t correct in the coming days.

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Last Updates

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Join this new Free To Play on the STEEM Platform !

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Manchester Will go unbeaten in the Europa League

Chelsea fans claim they went unbeaten when they were playing the Europa league and now that they are in the champions league they will come beaten at the end of the group stages. And when they join us in the Europa league will give them beaten again for them to stop talking everyday. Because they like talking too much as if they will win the Champions. The whole Real Madrid will be coming out from the Champions league then who is Chelsea. Chelsea we will be waiting for you in the Europa League.

Europa League Day

Today is another games for the Europa league. The Champions League teams played Tuesday and Wednesday and today which is Thursday is a day for all the Europa league teams. Manchester United will be playing today we and Astana will be playing. This is just a straight win for Manchester United. Because we will under rate the team we will use small players to play and if we dont take care we might play draw in this match. The coach has to take his chances and play all the good players for us to win the match once and for all than to struggle to score goals.

I just loaned BTC to someone!

I am sure you may have heard of peer to peer lending, sometimes it gets a bad rap. I think it was in the UK recently where a P2P lending company went under and took peoples money with it.

There’s also P2P lending available in crypto, in this case Bitcoin specifically.

Testing the waters

I have been wanting to test these waters for a while, I am no whale by any measure, but what BTC I do hold I would like to put to use.

I decided to loan some of it out, a whopping 50 000 satoshis, valued at ~$5 at the time of writing this.

Screenshot 2019-09-19 at 08.53.11.png

Surely the person did not ask for a $5 loan?

No, they requested ฿0.015. The loan was listed on the site BTCPOP (referral link). People can apply for a loan, and investors can decide to pool their money in and fund the loan if they find the risk to reward ratio favourable.

This particular loan is for funds to fix a cutting machine for a home business, it is risky as the person has not put up an collateral.

I did see from their history though that they have taken out other loans and have not been late on those.

What if they don’t pay?

Then I lose my satoshi’s, because there is no collateral. Thats part of the reason I put that amount in.

In cases where the users have collateral, you can get your funds back, what portion depends on the percentage of collateral to the bond amount the applicant has. Collateral can be shares, also on BTCPOP, or altcoins held on BTCPOP.

The payment is due in two weeks, at which point I should get out 55 000 satoshi’s, which would not be a bad return I think.

As with anything else, you should not invest anything that you cannot afford to lose, so if you do decide to take a look at P2P lending, exercise caution and take it slow.

Atl Madrid Equalizing in the Last Minute of the Game

Yesterday Champions league was full of surprises. Juventus lead the game by 2 goals to 0. In the second half of the game Atl Madrid came back hard on them and equalize the two goals all making 2-2 to the end of the game. CR7 had a chance but couldnt convert it into the goal post. But he actually did well in the swerving of the players in the 18 box. All the same Juventus has a point now and Atl Madrid also has a point now so no one lost the match but lets see what will happen in their second league.

No Shot on Target Real Madrid

Hello everyone today is another day. Yesterday was a bad day for Real Madrid as they played 90mins of match against PSG without playing Shot on target. They were not getting to play some of the game. It was only PSG who was playing the game. They tried all that they could to do something but it didnt work out for them. Now that they have lost their first game they have to go home and do their home work well and come back next time else their second league will be bad for them because PSG will score them more because by that time Neymar, Mbbape and Cavani will be around and they will conceed more goals.

Two Minute Crypto – Key Concepts 10 -What is a Decentralized Autonomous Organization (DAO)?

Please click the link below to listen to the 54th episode of my weekly crypto podcast ‘Two Minute Crypto.’ These are intended to be short, single-topic ramblings on some aspect of the cryptosphere. Comments and critiques welcome.



External Podcast Links

https://podcasts.apple.com/au/podcast/two-minute-crypto-key-concepts-10-what-is-decentralized/id1441492450?i=1000450287856

or

https://www.podbean.com/eu/pb-fe3hg-c00bc7


Transcript

What is a Decentralized Autonomous Organization (DAO)?

Welcome to Two Minute Crypto. This installment of the Key Concepts Series examines Decentralized Autonomous Organizations or DAOs. On the EOS network, the same concept is described as a Decentralized Autonomous Community or DAC. As usual, the goal is to explain this crypto concept in as simple and succinct a manner as possible. Given the unavoidable complexity involved in explaining a DAO, I highly recommend you listen to this explanation at least twice.

A Decentralized Autonomous Community (DOA) is a collective of individuals co-operating in an online environment to run and support a system or network; that system being structured around rules encoded in the software or smart contracts on which it operates. In effect, a self-organizing, digitally operating social system. Each DAO will vary in terms of complexity, scale, and goals but they all share a few key qualities.

Blockchain and Smart Contract Based

Every DOA operates on top of a blockchain whose function
is to immutably and openly record all collective decisions and facilitate some
form of transaction or data transfer utilizing a token. The token is the blood
of the system, facilitating data validation, transfer, and storage.  In addition, the moment by moment operation
of the organization is controlled by a set of smart contracts which execute
automatically once certain conditions are met on the network.              

Distributed Decision Making

The bedrock of any DAO is the distribution of voting rights beyond a central authority. The whole idea is that the network is governed by the members who comprise it – it is a bottom up approach to running an organization. Exactly how this is implemented will vary from DAO to DAO. Some may have elected boards that rotate from time to time, others may involve all members in any decision which changes the network and everything in between. Nonetheless, the core goal is to spread authority through the group. Voting outcomes are then automatically enforced or carried out by the DAO’s smart contracts.

Code as Law

A DAO will operate within a set of encoded software rules. If A then B and so on. These rules cannot simply be changed by an individual. Indeed, the parameters of change will already be laid-out within the software or smart contracts themselves. For example, a two-thirds vote may be required to change core governance. The network itself prevents ‘hijacking’ of the project as a few individuals cannot easily aggregate power or network control into their own hands.

DAOs are not meant to be unalterable and through
member consensus may evolve but they cannot simply be re-purposed without that
consensus (member agreement as predefined in the smart contracts that operate
the DAO) first being achieved. Of course, if the smart contract itself is flawed
it may result in unintended consequences such as a hack or the lock-up of funds
as famously occurred on the original Ethereum network in 2016.

Transparency

Decisions in a DAO are recorded on the network and
access to that record is freely available. Who, what, where, when, why, and how
much are all immutably entered onto the ledger of that system.

The practical applications of DAOs and DACs are just
now being explored. In theory, large scale corporations could function through the
sophisticated interaction of smart contracts and distributed governance. At the
moment, it is in decentralized finance that DAOs seem to be making great
strides. Maker DAO a project running on the Ethereum Network is an example of a
fully functional decentralized autonomous business specializing in collateralized
crypto loans. On the EOS blockchain eosDAC is in the latter stages of rolling
out a Decentralized Autonomous Community service that will, in theory, allow
the hosting and setting up of DACs tailored to different needs – an operating
system for decentralized communities if you will.

The coming years will almost certainly see a great
expansion of this new collective organizational model. How stable or viable
they will turn out to be remains to be seen.

Thanks for Listening.


Resources

Decentralized Autonomous Organization


What is a
DAO?

https://www.coindesk.com/information/what-is-a-dao-ethereum


Introducing eosDAC: DAC
Factory

https://eosdac.io/2019/07/22/introducing-eosdac-dac-factory.html