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The Cryptocurrency XRP Is Having A Good 6 Weeks – Forbes

August 24, 2020 | Author: admin

US Paper Currency, Stock Market and Exchange, Currency, Finance, Graph

From about 18 to about 30 in just 6 weeks time, thats not bad.

Thats in cents not dollars, though, giving the cryptocurrency that goes by the name of XRP the dramatic price action feel (somewhat) of those infamous penny stocks from Blinder Robinson that traded crazily in the 80s.

The cryptos in general have had a good summer of price action, some in dollars and some in pennies but its XRP thats of interest since my card counting friend in Las Vegas had mentioned it and I wrote about it here in XRP Is The Crypto To Watch, Says Vegas Blackjack Pro.

That posted on July 16th and it was just a few days later that the thing broke above previous resistance at 21 and took off for the much higher price level. At the time I took a bit of heat from experts on Twitter for suggesting that a pro at the 21 tables might have advice about anything crypto. Now it looks like my friend was right.

Maybe he just got lucky, who knows?

Anyway, just for the record, XRP looks like this now on the daily price chart:

XRP daily price chart, 8 23 20.

After tracking mostly sideways to slightly down in price from May to July, you can see the late July breakout. XRP had been unable to rise above the Ichimoku cloud for weeks but then got there easily on some volume. It looks like the selling that comes in at above 31 is likely to be significant enough to prevent further upside, at least for now.

The XRP weekly price chart looks like this:

XRP weekly price chart, 8 23 20.

Like the other cryptocurrencies, XRP has a long way to go to make it back up to the early 2018 highs. Clearly. Whats interesting here is the increase in buying volume that is shown for this summer. The other thing is that price may be about to break above the weekly Ichimoku cloud for the first time in a couple of years. Its almost there.

The XRP monthly price chart looks like this:

XRP monthly price chart, 8 23 20.

The dramatic drop in price is clearly evident on the monthly time frame from the January, 2018 peak until the much lower present. Take a look at the moving average convergence/divergence (MACD) indicator below the price chart: the shorter-term time line is just now crossing above the longer, a positive sign on that measure. Whether it turns out to be an actual buy signal remains to be seen.

This is just a form of price chart analysis where trend is identified and the potential support and resistance levels are suggested a serious investor or trader would want to research the fundamentals and formation of a cryptocurrency like XRP or any of the cryptos before taking any action. Past performance is no guarantee of future results.

I do not hold positions in these investments.No recommendations are made one way or the other.If you're an investor, you'd want to look much deeper into each of these situations. You can lose money trading or investing in stocks and other instruments. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor.

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The Cryptocurrency XRP Is Having A Good 6 Weeks - Forbes

IMF Publishes Cryptocurrency Explainer, Saying It ‘Could Be the Next Step in the Evolution of Money’ | News – Bitcoin News

August 24, 2020 | Author: admin

The International Monetary Fund (IMF) has published a video explaining what cryptocurrency is. Besides suggesting that cryptocurrency could completely change the way we sell, buy, save, invest, and pay our bills, the video states that it could be the next step in the evolution of money.

The IMF tweeted a video explaining what cryptocurrency is on Sunday that instantly went viral. Referring to cryptocurrency as a special currency, the two-minute video attempts to outline its benefits in payments, such as by removing middlemen, lowering costs, and increasing transaction speed. It also warns of what it sees as risks, such as anonymity and volatility. The video has garnered more than 523K views at the time of writing; it has been retweeted 5.5K times, liked 8.2K times, and received 807 comments. The video ends with:

If we can counter the risks, then this new technology or some variation of it can completely change the way we sell, buy, save, invest, and pay our bills. And who knows, this could be the next step in the evolution of money.

The video references the IMFs F&D (Finance & Development) magazine, June 2018 edition, entitled Money, Transformed The future of currency in a digital world. When that magazine edition came out, the organization posted the above video on its Youtube channel, which received little interest at the time.

Many people in the crypto space view the IMFs video as bullish. Tweets such as IMF learning fast. Global adoption is on its way, This is a big deal, and They are finally understanding blockchain and cryptocurrency are not going away flooded Twitter. One user wrote: I still cant believe I see this. IMF shills cryptocurrencies, of course, not bitcoin yet, but that time will come too.

Since the IMFs crypto explainer video does not mention any specific cryptocurrency, many commenters took the opportunity to promote their favorite coins.

Some people, however, criticize the content of the IMF video, saying that the information is misleading and omits many important points, including mining. Many also believe that bitcoin should have been mentioned. Nothing about why people choose to store their wealth in a scarce currency like bitcoin instead of fiat currencies that are benign constantly debased by banksters and cantillionaires, one user tweeted. You forgot one fundamental difference between fiat and bitcoin. Fiat is printable by centralized entities like government & banks, whereas BTC is decentralized and has a limit cap to its supply where only 21 million will ever exist in this universe. All powered by blockchain, another wrote.

Some questioned who the bad guys in the video are supposed to be and frowned upon it referring to private keys as passwords. Some say the video gives the appearance that all cryptocurrencies share the properties of bitcoin, and some suspect that the IMF is planning to launch its own cryptocurrency. One user noted that this video is set up like a Prelude to their own crypto coin that will come out at some point fixing all the problems with crypto that the IMF has outlined in this video.

What do you think about this IMF video? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, IMF, Twitter

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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IMF Publishes Cryptocurrency Explainer, Saying It 'Could Be the Next Step in the Evolution of Money' | News - Bitcoin News

Report finds $50 billion of cryptocurrency moved out of China hinting at capital flight against Beijing rules – CNBC

August 24, 2020 | Author: admin

A photo illustration of the digital Cryptocurrency, Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are seen on September 13 2018 in Hong Kong, Hong Kong.

Yu Chun Christopher Wong | S3studio | Getty Images

Over $50 billion of cryptocurrency moved from China-based digital wallets to other parts of the world in the last year, pointing to possibilities that Chinese investors are transferring more money than allowed out of the country, a new report claims.

Chinese citizens are only allowed to buy up to $50,000 of foreign currency a year at a financial institution.In the past, wealthy citizens have circumvented the limit through foreign investments in real estate and other assets. But the government has cracked down on these methods, according toa report by Chainalysis, a blockchain forensics firm.

"Cryptocurrency could be picking up some of the slack though," the report said.

"Over the last twelve months, with China's economy suffering due to trade wars and devaluation of the yuan at different points, we've seen over $50 billion worth of cryptocurrency move from China-based addresses to overseas addresses," Chainalysis said.

Chainalysis sells compliance and investigation software to businesses and governments.

"Obviously, not all of this is capital flight, but we can think of $50 billion as the absolute ceiling for capital flight via cryptocurrency from East Asia to other regions," the report added.

Cryptocurrency holders are using controversial stablecoin Tether to move their money. A stablecoin is a digital currency that is usually backed by another asset or group of assets in efforts to stabilize its value and limit volatility. Tether claims to be pegged to the U.S. dollar.

Stablecoins are useful for transferring large amounts of cryptocurrency because, in theory, the value of the cryptocurrency a person is moving should not see wild swings.

"In total, over $18 billion worth of Tether has moved from East Asia addresses to those based in other regions over the last 12 months. Again, it's highly unlikely that all of this is capital flight," Chainalysis said in its report.

Part of this activity can be explained by China-based miners converting their newly-minted coins into Tether and sending them to exchanges abroad, Chainalysis said.Miners are people with specialized computers solving complex math problems to mint new cryptocurrency. When they solve this complex problem, miners are rewarded in cryptocurrency.

But the report also found significant spikes in Tether movement on certain news events. Firstly, in October, Chinese President Xi Jinping threw his backing behind blockchain, the technology that underpins many digital coins.

Secondly, after a massive sell-off in mid-March, the price of bitcoin began to recover.

"Equities in both the U.S. and China were still losing value at this time, as was the yuan itself. It's possible that the economic tumult may have prompted some capital flight from China, though much of the Tether movement could have been East Asia-based cryptocurrency traders moving their holdings to international exchanges in order to trade at a time when cryptocurrency price volatility was high," Chainalysis said.

Leading Cryptocurrency Exchange PayBito to Add More Altcoins to the Platform – AiThority

August 24, 2020 | Author: admin

Global cryptocurrency exchange PayBito is expanding its portfolio of crypto assets by planning to add more prominent altcoins to the platform to offer diversification of trading options for the users.

Leading cryptocurrency exchange PayBito has revealed its plans to add more prominent crypto assets and altcoins to its coin portfolio by the end of 2020. The platform is globally recognized for its extensive coin listing, which comprises major cryptocurrencies from around the world. Its been a while since the crypto exchange has been on expansion mode. It was fast to launch the trading platform in India, which got its ban on crypto trading lifted a few months ago. PayBito is the only among cryptocurrency exchanges in India to offer such adiverse portfolio of crypto assets.

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PayBitokeeps novelty as a constant within the platform through the inclusion of new assets or advanced features to offer the best trading experience to the users. Expansion of the coin listing is our strategic move to diversify the trading options, especially in emerging markets like India and enable the users to profit more from the trading activities, commentedRaj Chowdhury, Managing Director of PayBito.

At the beginning of the year, PayBitoadded several prominent crypto assetsto the platform, to diversify the trading options for its global users. This time the exchange also wants to focus on the emerging assets that have shown promising growth in the industry. Overall the expansion of the crypto portfolio will offer varied trading prospects to PayBitos global user base.

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PayBito follows a rigorous protocol for its coin listing process. The exchange has a panel of experienced and knowledgeable professionals who assess each crypto asset thoroughly before adding it to the trading platform to ensure that the users have safe and fulfilling trading experience. At present, their coin portfolio comprises of Bitcoin (BTC), HCX, Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), EOS, Basic Attention Token (BAT), Ethereum Classic (ECH), Bitcoin SV, Ripple (XRP) and many more.

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Leading Cryptocurrency Exchange PayBito to Add More Altcoins to the Platform - AiThority

Hackers Intercept Cryptocurrency Payments on the Tor Network Through SSL Stripping – CPO Magazine

August 24, 2020 | Author: admin

Hackers intercepted the Tor network by attaching malicious servers to perform SSL stripping attacks on cryptocurrency payments, an independent security researcher has revealed. The attacks targeted cryptocurrency-related traffic passing through the network.

The report by Nusenu says that Tor network users had a one in four chance of sending traffic through the compromised servers. At their peak operation around May 2020, the malicious group controlled about 380 Tors network exit relays. Tor responded by removing a huge chunk of the malicious servers from its network, but the full extent of the malicious operation remains unknown.

The attackers were performing person-in-the-middle attacks on Tor users by manipulating traffic as it flows through their exit relays, the report says. Profit was the primary motive for the Tor network takeover by the attackers who carefully targeted users accessing cryptocurrency-related websites through the Tor Browser or related software.

To execute the attack, the cybercriminals downgraded users requests from HTTPs to HTTP traffic which allowed them access to unencrypted cryptocurrency payments without triggering TLS certificate warnings. The malicious entities then replaced Bitcoin addresses with their destinations. The affected cryptocurrency payments took place through Bitcoin mixing services. Such transactions involve breaking cryptocurrency payments into small sums before sending them through different addresses. On reaching the destination, the funds are consolidated into a single amount. However, the Bitcoin address rewriting attacks allowed the hackers to intercept the small cryptocurrency payments and to reroute the payments to their wallets, thus stealing bitcoins without the users or the mixers knowledge.

Tor project team is facing verification challenges because of the current COVID-19 crisis which has affected the companys resources due to worker layoffs. The low staff levels had affected the teams ability to verify all relay operators on the Tor network, creating an opportunity for abuse.

The Tor network team has not been able to track trusted relay operators throughout their presence on the Tor network. Consequently, malicious operators could register as genuine providers before executing attacks.

The threat actors relied on users weaknesses in distinguishing between https:// and http:// on the Tor browsers address bar. Additionally, most users rarely type the full address, hence exposing their requests to unsafe redirects. Website owners also fail to enforce HTTPS redirects, thus opening their websites to both encrypted and unencrypted access.

The Tor network team has advised webmasters to enable the HTTP Strict Transport Security (HSTS) functionality. Additionally, the group advised owners of unencrypted websites to install various free SSL certificates, such as the Lets Encrypt certificate, to protect their customers from similar exploits.

While the current exploit targeted cryptocurrency payments only, criminals could use similar tactics to target any traffic passing through the Tor network.

Similarly, the Tor network team has failed to remove the malicious servers entirely. Experts claim that up to 10% of the malicious relays remain within the Tor network. The independent researcher also believes that the malicious entities have adopted other tactics to target cryptocurrency payments within the Tor network while evading detection.

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Hackers Intercept Cryptocurrency Payments on the Tor Network Through SSL Stripping - CPO Magazine

Crypto: Why investors are rushing to DeFi assets – Nairametrics

August 24, 2020 | Author: admin

It seems large entities or better still whales are showing renewed interest lately by moving the second most valuable crypto asset more frequently as DeFi tokens gain traction.

Data from an advanced crypto tracker, Whales Alert, showed two unknown ETH whales separately moved 53,455 Ethereum coins worth about $20.921 million transferred from Kraken (a crypto exchange) to an unknown wallet and vice versa, several hours ago.

Nairametrics believes that the recent whale movements are triggered by the DeFi token phenomenon which uses the ERC-20 protocol for facilitating transactions. Ethereum 2.0, the long-term protocol upgrade of Ethers parent network, is set to launch its final testnet this month.

READ: Bitcoin could potentially become superior to cash

Defi, in short, is the use of blockchain technologies (including smart contracts, decentralized asset custody, etc.) to replace all intermediaries with program codes, therefore maximizing the efficiency of financial services and minimizing costs.

These digital assets are designed on Ethereum codes, and usually exhibit characteristics that include having protocols and financial smart contracts.

READ: Unknown ETH Whale moves $35 million dollars worth of Ethereum

In the Ethereum world, traders or investors who own a large number of Ethereum are typically called whales. This means an Ethereum whale would be a single Ethereum address owning around 1,000 Ethereum or more.

Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

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Ethereum is a decentralized system, fully independent, and is not under anybodys authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means its almost impossible for Ethereum to go offline.

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Crypto: Why investors are rushing to DeFi assets - Nairametrics

Where to Back Up Your Smartphone Photos Online (and Why You Should) – Lifehacker

August 24, 2020 | Author: admin

A botched Adobe Lightroom app update on iOS accidentally deleted users photos and editing presets. Adobe responded to the widespread-bug reports and issued a patch to fix it so others wont be affected, but it cant recover any of the lost files.

Adobe says some users may be able to restore a portion of their lost photos and editing presets if they have phone backups stored in iCloud. Give that a try if youre one of the unlucky users who lost their photo history, but the odds are slim this will work for everyone. Not to be too negative here, but I dont want to give anyone false hope.

Its a bummer, but the sudden data loss underscores why you need to backup your photos in multiple locations. If you have everything stored in two or three places, youll still have extra backups if one fails.

Frankly, external hard drives or SSDs are the best options; they have high storage capacities and can be kept on-hand for whenever you need them. The downside is, external media drives are expensive. Besides, if you primarily shoot and edit with your phone, saving your photos to a hard drive isnt easy. Youre probably not looking to pay tons of money to back up your files, either. Fortunately, plenty of cloud-based services let you backup your photos for free.

There are quite a few options, but we pared the list down to websites with the most generous uploading allowances for free users.

G/O Media may get a commission

The downside to free services is they cap your storage or impose upload restrictions. Those limits arent too severe for casual photographers but will be stifling to professionals and hardcore hobbyists. Unfortunately, the only way to get around those limitations is to use a paid service instead.

There are lots of paid options like Pixpa and ImageShackplus the premium memberships from the services listed above and a whole mess of cloud storage servicesbut I want to highlight a few that you might already be paying for without realizing it, and hopefully save you some cash.

[9to5Mac]

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Where to Back Up Your Smartphone Photos Online (and Why You Should) - Lifehacker

NordLocker encryption heads to the cloud – IT PRO

August 24, 2020 | Author: admin

NordLocker, the file encryption tool from NordSec - the company behind the well-known NordVPN-has enhanced its offering with encrypted cloud storage.

NordLocker has always protected user files on a device, and the new cloud storage feature allows users to move their data to the cloud without fear of hackers stealing it. This is a critical feature for modern business, especially with the coronavirus outbreak forcing many companies workforces to remain remote.

There are plenty of cloud-storage options boasting encryption, but NordSecs add-on takes it a step further. Other cloud-storage solutions encrypt the storage itself, but your files are still vulnerable if a hacker breaks through the clouds encryption. With NordSec, your files are encrypted too, giving you double protection.

Plus, the encryption standards on your device are shared with the cloud add-on. Nord Locker also limits file access to the owner and whoever the owner shares access with. With some other encrypted cloud storage options, the company offering the storage can also access the files.

According to Oliver Nobel, encryption specialist at NordLocker:"Your data is not our business. Our encryption system is designed in a way that prevents us from seeing what you keep."

Whether you need to protect photos, videos, cryptocurrencies, notes or any other files for your business or yourself, NordLocker claims to protect it all.

The NordLocker clouds drag-and-drop interface makes it relatively easy to use, even for folks with limited tech knowledge. Users can also access their files from any computer with NordLocker installed, so theres no need to panic if you switch to a new computer or need to download a piece of software when youre away from the office.

NordLocker offers a free 3GB cloud storage plan with unlimited encryption -no credit card required. If you need more space, you can upgrade to 500GB of cloud storage for $3.00 per month. There are also customizable business accounts for larger companies.

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NordLocker encryption heads to the cloud - IT PRO

What Is the OneDrive File Size Limit? Microsoft’s 2020 Updates – Cloudwards

August 24, 2020 | Author: admin

Due to the novel coronavirus, we have seen a massive increase in remote working, which naturally means that more people than ever are relying on cloud storage to share their files. Coinciding with this came an update and an announcement from Microsoft, bringing many long-requested features to OneDrive. In this article, well be looking at the change to the OneDrive file size limit for uploads and what it means for users.

Although the upload limit will be our focus here, the improvements dont stop with the OneDrive maximum file size increasing. There are also new changes to sharing in Microsoft Teams, extra administration controls, a dark mode option for the web and improvements to help you search for files. These will benefit both OneDrive for Business and individual users, improving this service in many aspects.

Microsoft has raised the previous OneDrive file upload limit of 15GB to 100GB. This applies to everyone with a OneDrive plan, meaning all OneDrive for Business and personal plans will get the increase. You wont even need to use the apps, as the change also raises both the OneDrive and SharePoint Online limits to 100GB.

This will please companies that need to store and share large files, since the OneDrive for Business file size limit has been a major problem for a long time. However, unless youre storing large media files in the cloud, most people wont be able to benefit much from this. Free users also wont be impacted, as the OneDrive size limit for free accounts is still capped at 5GB.

After almost six years with OneDrive limitations set firmly at 15GB, the reasons for why this sudden change happened now is unclear. However, the recent implementation of block-level syncing for all file types which speeds up the process of syncing large files probably has something to do with it.

There is also an element of keeping up with the competition, as OneDrive has always been miles behind Google Drives 5TB limit or Sync.coms lack of limits. However, OneDrives new limit of 100GB will be plenty for most people.

As Microsoft slowly reduces OneDrives limitations on file sharing, it inches closer to becoming one of the best cloud storage options. Whether you need to share large files, run your business on the cloud or just want the option to store some long 4K videos, this update secures OneDrive as an excellent storage solution for most people.

However, if the new changes to the Microsoft OneDrive file size limit still dont meet your requirements, there are many other providers with higher limits. Find the best option for you by reading our article on cloud services for storing large files.

Have you made use of the new OneDrive limits? Let us know your thoughts in the comments section below. Thanks for reading.

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What Is the OneDrive File Size Limit? Microsoft's 2020 Updates - Cloudwards

A Security Flaw In ‘Manage Versions’ Feature Of Google Drive Could Allow Malware Attackers Trick Victims Into Installing Rogue Code – Digital…

August 24, 2020 | Author: admin

Google Drive may have a way that can allow malware attackers to trick victims to install malware. Malware attackers can exploit an unpatched security flaw in Google Drive to distribute malicious files disguised as legitimate files that will allow attackers to perform spear-phishing attacks. Security researcher A. Nikoci told The Hacker News that a flaw in the manage versions feature in Google Drive can enable threat actors to swap a file with malware. He also reported this flaw to Google. The manage versions functionality allows users to upload as well as manage various versions of a file, and in the way, its interface offers a new version of files. It is important to note that Google is aware of this security flaw, however, it has been left unpatched.

Logically, the feature should let users update an older version of a specific file with a new version of that file having the same file extension, however, it turns out that this is not the case. According to A. Nakoci, the affected feature of Google Drive enables its users to upload a new version of a file with any file extension on the cloud storage. Nikoci also told that Google allows users to change the version of a file without checking if it is the same type. The cloud storage service does not even force the same extension type.

Nikoci shared demo clips, and according to those videos, a legitimate version of a file that has already been shared with a group of Google Drive users can be replaced with a malicious file. Furthermore, the online preview also does not indicate new changes or raise any alarm. However, when installed, the file could be employed to infect the systems.The approach could be used for highly effective spear-phishing attacks that trick people into compromising their systems. Spear-phishing attacks usually attempt to trick victims into opening malicious links. Those malicious links can also be used to get the victim to unknowingly install malware on their device that can provide the hacker access to the victims computer and other sensitive data. Currently, the best solution is to use an antivirus and be wary of Drive file update alerts. Recently, Google also fixed a flaw impacting G Suite and Gmail users that could have let threat actors send spoofed emails even when strict security policies such as DMARC or SPF are enabled.

Read next: Autofill with Google now allows biometric authentication for all Android 10+ devices

Featured Photo: Thomas Trutschel/Photothek via Getty Images

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A Security Flaw In 'Manage Versions' Feature Of Google Drive Could Allow Malware Attackers Trick Victims Into Installing Rogue Code - Digital...

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The Cryptocurrency XRP Is Having A Good 6 Weeks – Forbes

IMF Publishes Cryptocurrency Explainer, Saying It ‘Could Be the Next Step in the Evolution of Money’ | News – Bitcoin News

Report finds $50 billion of cryptocurrency moved out of China hinting at capital flight against Beijing rules – CNBC

Leading Cryptocurrency Exchange PayBito to Add More Altcoins to the Platform – AiThority

Hackers Intercept Cryptocurrency Payments on the Tor Network Through SSL Stripping – CPO Magazine

Crypto: Why investors are rushing to DeFi assets – Nairametrics

Where to Back Up Your Smartphone Photos Online (and Why You Should) – Lifehacker

NordLocker encryption heads to the cloud – IT PRO

What Is the OneDrive File Size Limit? Microsoft’s 2020 Updates – Cloudwards

A Security Flaw In ‘Manage Versions’ Feature Of Google Drive Could Allow Malware Attackers Trick Victims Into Installing Rogue Code – Digital…

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