#it should be 100 to 0 in manias favor

[click2watch]

Crypto Is Far From Dead, as These Scaling Projects Show

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative.

The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers.

——-

After a gloomy look at the state of cryptoland two weeks ago, it’s time for more of a glass-half-full assessment of the outlook.

As we’ve been hearing, one advantage of a bear market, when price is less of a distraction and competition for engineering talent isn’t so tight, is that serious projects can buckle down and start to develop real products. The question, then, is whether there are any serious projects for developers to work on?

The answer, resoundingly, is yes.

The big challenge for blockchain development is scaling: how to resolve the tradeoff between decentralization and efficiency that bitcoin and ethereum ran into once every node in the network had to process and record an ever-growing string of transactions.

Overcoming this scaling challenge, so that many more transactions can be processed without raising security risks or overly trusting specific record-keeping entities, is vital because it will pave the way for other improvements, including lower costs, more application-layer software products, and improved user experience.

The good news is that there’s a great deal of work going on. And whereas previous new blockchain projects that touted massive transaction-processing power were limited to “permissioned” networks, the work being done now goes to the heart of a more exciting scaling goal: a dramatic increase in the capacity of open, permissionless platforms.

Layer one and layer two

Much of the focus has been on the work being done among bitcoin and ethereum developers to resolve this challenge.

In bitcoin’s case, scaling was the subject of an ugly dispute between those favoring a block-size increase — an on-chain “Layer One” solution backed by advocates of breakaway cryptocurrency bitcoin cash – and those, such as the Bitcoin Core developers, who preferred off-chain “Layer Two” solutions such as the Lightning Network payment channels model.

While the block size increase solution at bitcoin cash deteriorated into an ugly battle among proponents, Lightning has shown significantly more progress. According to data from 1ml.com, the Lightning mainnet now counts more than 4,400 nodes and more than 13,500 payment channels, with those two metrics having increased by 10.45% and 43.5%, respectively, over the course of the same month. Even as the bitcoin price collapsed, work just continued building the network.

The ethereum community’s approach to scaling has been more cohesive than bitcoin’s, but it has also embraced a more ambitious agenda. The scaling roadmap includes a shift to proof-of-stake consensus under the Casper project, as well as ethereum’s own layer one and layer two solutions.

For layer one, the focus is on sharding, which splits the blockchain into different, interlinked portions, so that the processing requirements for each node can be lessened. And the layer two work includes Lightning-like state channels such as the Raiden Network and the “child chain” model on which Plasma is based.

The complexity of these amendments, as well as the fact that some of these changes, especially on-chain protocol adjustments, require coordination among ethereum’s relatively large user and developer base, has meant that target dates for launch of the various stages have been pushed back repeatedly. However, a new plan aims to accelerate the introduction of the changes.

In any case, the wider blockchain community should be thankful to ethereum for the enormous amount of thought and planning that has gone into these ambitious solutions. The Github repo for ethereum sharding work, for example, now stands as a resource for all to work on this promising solution.

Standing on the shoulders of giants

It might seem a bit unfair that, as these more established blockchain communities have worked hard at these solutions, newcomers have been able to build on some of their ideas and launch new permissionless protocols from scratch that incorporate these and other scaling solutions.

There’s still a lot of catching up to do – both in terms of network size and developer engagement. As CoinDesk’s newly created Crypto Economics Explorer, or CEX, shows, bitcoin and ethereum are well ahead of all other blockchains on both those metrics.

Some of these projects have been somewhat below the radar, partly because they were excluded from the ICO mania. But that hasn’t stopped them from building and, in some cases, raising decent money – if more quietly than others.

Take Algorand. The proof-of-stake blockchain, built by Turing Award-winning MIT computer scientist Silvio Micali, uses a randomly selected committee system for validating blocks that saves on computing power and aspires to achieve a massive three million confirmed transactions per second serving 4 billion users – capacity that’s many, many orders of magnitude greater than both bitcoin and ethereum.

In October, the Algorand team raised $62 million from what it described as a “broad global investment group representing the venture capital, cryptocurrency and financial services communities.” This week it lined up a further $100 million commitment from venture firm Algo Capital to fund app developers working on top of the Algorand platform.

Then there’s Devvio, which is targeting mainstream corporate and enterprise users and is preparing a coming-out presentation for the Digital Money Forum at the Consumer Electronics Show in Las Vegas in January.

Founded in Albuquerque by robotics pioneer Tom Anderson, Devvio has filed a number of patents for a protocol that took a lot of the ideas generated elsewhere on sharding, stablecoins, identity and custody solutions. Devvio claims to have achieved a whopping 8 million transactions per second as a benchmark result in testing its platform. Note: these claims are yet to be subjected to extensive peer review and Devvio has not published results of planned security audits.

Another under-discussed permissionless blockchain is that of Nexus Earth, whose multi-layered consensus process, known as Tritium, is designed to increase throughput by giving nodes different tasks to undertake within that process rather than doing all of them.

Nexus says that a recent test by founder and chief architect Colin Cantrell achieved throughput of almost 200,000 data requests per second and transactions of more than 4,000 per second.

While Nexus’ transaction processing claims are much more modest than those of Algorand and Devvio, they are well above those of bitcoin and ethereum, which handle seven and 15 transactions a second, respectively, and four times that of Ripple at 1,500 per second.

Importantly, Nexus is also tackling a secondary problem of network scaling. Via the involvement of former Cisco senior engineer Dino Farinacci, it is integrating the Locator/ID Separation Protocol, or LISP, which allows for identity interoperability across devices. This could engage Nexus in solutions aimed at bringing blockchain-based security to decentralized Internet of Things networks.

Cashed-up ICO recipients

Other, higher-profile projects are also hard at work developing large-scale blockchain solutions.

EOS, led by block.one, attracted some bad press after its launch when elections of its 21 block producers caused tension in the community, but its record-breaking ICO, which raised $4 billion, has left it with a massive war chest with which to advance the protocol and fund application development. CoinDesk’s CEX shows a relatively large network and developer pool working on EOS.

Cardano, led by early ethereum founder Charles Hoskinson, is now developing a variety of scaling solutions that draw from ideas developed elsewhere. While it is underperforming in terms of the developer activity shown on the CEX, Cardano has managed to spur a significant academic interest in its platform, in part because of an aggressive research and development fund led by the holding company, IOHK.

Beyond these specific blockchain platforms, solutions aimed at cross-asset interoperability are also pushing ahead with development, posing an alternative vision for achieving scalability across different blockchains. These include Polkadot, led by another ethereum founder, Gavin Wood.

While the collapse in crypto prices was not good news for ICO-funded projects such as Cardano, Polkadot and EOS, research by BitMEX showed that many of them remain well-capitalized because they managed their treasuries proactively following the big fundraises of last year. So long as these projects don’t fall afoul of securities regulations, which might force them to return money to investors, these funds will continue to help pay for development, both of protocols and of applications working on top of them.

It’s a fool’s game to try to predict which of these solutions will succeed and which will fail. But it seems that one or more of them are poised to deliver some real advances in scaling and usability.

Far from seeing the death of crypto, we may be entering its most exciting phase.

Construct 2017 image via CoinDesk archives.

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[legit-scam-review]

Bitcoin, Ripple, Ethereum, Stellar, EOS, Bitcoin Cash, Bitcoin SV, Litecoin, TRON, Cardano: Price Analysis, Dec. 12

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

When markets were rising, the novice traders believed they can never go down, and one must only have the courage and patience to HODL. However, after this year’s nerve-racking correction, most of those same traders now believe that the cryptocurrencies are going to zero. They were wrong on the way up, and they are wrong again on the way down. The fundamentals are getting better and are pointing to a better future.

Mike Novogratz, former hedge fund manager and Goldman Sachs Group Inc. partner said that the markets are sober now, as the speculative mania is gone. He remains bullish and believes that Bitcoin is not going to zero, it is just in a “methadone clinic.”

The most popular twins in the crypto space, Tyler and Cameron Winklevoss, are also undeterred by the current bear market. They have launched a new mobile crypto trading app with various investment features. Their crypto exchange, Gemini plans to enter the Asian crypto space in 2019.

But not everyone is bullish about the future. Harvard University Professor of Economics and Public Policy Kenneth Rogoff believes that the long-term value of Bitcoin is “more likely to be $100 than $100,000,” as reported by The Guardian.

We, however, believe that the current fall is a good buying opportunity, but the traders should not expect a vertical rally. The markets are likely to form a large base before starting a new uptrend.

BTC/USD

Bitcoin is currently trading inside a descending channel. The bulls have been attempting to defend the $3,500 mark for the past three days. A break of this first support will result in a retest of the Dec. 7 low of $3,329.05.

If the bulls hold $3,500, the BTC/USD pair might pull back to the resistance line of the channel, just below the 20-day EMA. We expect this level to act as a stiff resistance.

Though the moving averages continue to fall, the RSI has been forming a positive divergence for the past few days. This is a bullish sign. If the price climbs above the 20-day EMA, we can expect the pullback to reach the next overhead resistance of $5,000.

A failure to break out of the 20-day EMA, and a plunge below $3,329.05 will test the $3,000 threshold. If this support also breaks, the next support is way lower at $2416.52. However, we expect the leading digital currency to hold the $3,000–$3,500 zone, so we had recommended a buy in our previous analysis.

XRP/USD

Since breaking down of the support at $0.33108, the bulls have been attempting to keep Ripple above the Dec. 7 low of $0.28600.

A break below $0.286 and the support line of the channel can result in a fall to the Aug. 14 low of $0.24508. If this support breaks, the next support is at $0.15.

If the bulls hold the support and break out of the 20-day EMA, we expect the XRP/USD pair to rally to the 50-day SMA. A sustained move above $0.4 will increase the probability of a rally to the top of the channel at $0.5. Therefore, we suggest traders hold on to their existing long positions.

ETH/USD

Ethereum has been trading in a tight range of $83–$102.5 since breaking down of the previous support of $102.2.

The RSI has been forming a positive divergence, which increases the possibility of a pullback. On the upside, any recovery attempt will face resistance at $102.5, the 20-day EMA and at $130.5.

If the ETH/USD pair plummets below $83, the downtrend will resume. Its next lower target is $66. The traders can wait for a bullish pattern to develop before entering any positions.

XLM/USD

Stellar is trying to pull back from the lows. It has broken out of the downtrend line, which shows some respite from the incessant selling. The recovery will gain strength if the price breaks out of $0.13427050. On the upside, the 20-day EMA and $0.184 will act as major hurdles.

On the other hand, if the XLM/USD pair turns down from the overhead resistance and breaks $0.10488320, the downtrend can extend to $0.08. The down sloping moving averages and the RSI in the oversold territory suggest that the downtrend remains. We shall wait for a new buy setup to form before proposing any trades in the pair.

EOS/USD

EOS has broken out of the downtrend line, which suggests that the intensity of the selling has reduced. But the trend remains headed downward, as both moving averages are still falling, and the RSI is in the oversold zone.

If the bulls break out of the immediate resistance of $2.1733, the pullback can extend to the 20-day EMA, which is likely to act as a stiff resistance. A break above this can carry the EOS/USD pair to $3.8723.

If the next dip doesn’t break the low of $1.55, we can confirm that a bottom is in place. However, if the next dip breaks the Dec. 7 low, the digital currency can fall to $1.2. We suggest traders wait for a reversal pattern to form before entering any long positions.

BCH/USD

Bitcoin Cash dipped below the Dec. 7 low of $94 and made a new year-to-date low on Dec. 11 at $92.13. This indicates a lack of buying even at the current levels.

Currently, the bulls are attempting to push the price back above $94. If successful, the BCH/USD pair will continue to trade in the range of $92.13–$115.61. Both moving averages are falling, and the RSI is deep in the oversold territory. This confirms that the trend is down with no signs of a reversal yet.

The first sign of buying will be when the bulls break out and close (UTC time frame) above $116. In such a case, the pullback can extend to the 20-day EMA. Though the digital currency has a history of vertical rallies, we suggest traders wait for buying to resume before attempting a trade in it.

BSV/USD

While the other cryptocurrencies are showing signs of bottoming out, Bitcoin SV is facing selling at higher levels.

For the past five days, the BSV/USD pair has been falling gradually and has reached the bottom of the range. A break below the range can result in a retest of $38.528.

On the other hand, if the bulls bounce from the bottom of the range, we can expect the digital currency to reach the top of the range at $123.98. Trading inside a price range can be volatile, so we shall wait for a break out of the range before recommending a trade in it.

LTC/USD

Litecoin has been consolidating close to the lows for the past five days. Though the price has stayed above the low of $23.1, it has not been able to move up. This shows a lack of buying at higher levels. The trend remains in favor of the bears as long as the price is below the downtrend line.

A return of buyers will be signaled when the LTC/USD pair sustains above the 20-day EMA. The RSI has formed a bullish divergence, which is a positive sign.

Aggressive traders can wait for the price to close above the 20-day EMA and establish long positions with a short-term target of $40. The stop loss can be placed at $23. The traders should keep the position size at only about 30 percent of usual because it is a countertrend move. If the digital currency slides below $23.1, it can reach $20.

TRX/USD

TRON has formed a symmetrical triangle, which is usually a continuation pattern. However, in some cases it acts as a reversal pattern as well.

If the bears break below the triangle, the downtrend might resume. The pattern target of such a breakdown is $0.00554133. It has a minor support at $0.00844479, which can attract some buying.

Conversely, if the TRX/USD pair breaks out and closes (UTC time frame) above the triangle, it has a pattern target of $0.02055867. However, we believe $0.0183 will offer a stiff resistance. If the digital currency doesn’t break down or break out of the triangle within the next few days, the pattern will be invalidated.

ADA/USD

Cardano has been consolidating close to the lows. It is currently facing resistance at $0.35. Any recovery is likely to face resistance at the 20-day EMA. If the bulls break out of this resistance, a rally to $0.456 and thereafter to the 50-day SMA is probable.

The RSI is developing a positive divergence, which is a bullish sign. But still, in a downtrend, traders should wait for the price to show an uptick before jumping in to buy because positive divergences turn out to be bear traps.

If the ADA/USD pair turns down from one of the overhead resistances and slides below $0.027237, the downtrend will resume. The next stop on the downside might be $0.025954. We can’t find any reliable buy setups yet, so we are not recommending a trade in it.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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The post Bitcoin, Ripple, Ethereum, Stellar, EOS, Bitcoin Cash, Bitcoin SV, Litecoin, TRON, Cardano: Price Analysis, Dec. 12 appeared first on Review: Legit or Scam?.

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[osunews]

osu!weekly #89

It’s the season of the best. The best of 2016 is live, players are voting for the best players of the year. Maybe after this, we should hold a best weekly of 2016. That only seems fair, doesn’t it?

Previous Next

Weekly news

The third Aspire mapping contest has started. This time around, we’ll be using The Solace of Oblivion, one of Helblinde’s tracks from this new album, Ephemerality. The contest will run for 32 days which should give people more than enough time to create some wonderous eye candy for this almost 6 minute beast of a song.

Our new year gifts don’t stop there though with though, as the best of 2016 voting is now finally live! For those new to osu!, at the start of the year, we hold a vote where you - the players get to vote for what you think were the best maps of the year.

ztrot and myself (deadbeat) have released another new osu!talk. This time around, we got to talk to two time OWC winner, Toy. So if you’ve ever been interested in learning a bit more about him (or where his name came from), now’s your chance!

We have some new additions to the BNG this week. Give a warm welcome to the following users: * Bakari * Battle * F D Flourite * Garden * Nao Tomori * Naxess

We also have 2 returning members to the GMT. ToGlette and Atrue are now back in green and ready to lay down some smack down.

osu! players have long since admired the nono keyboards, but what about extending that to other game modes? Surely osu!mania could also benefit greatly from something similar? Well you’re not the only one to think so. LastExceed has created something similar to the infamous nono keyboards, but with mania more in mind. Could we be seeing more of this in the future?

The guys over at #modhelp have decided to host another modhelp mapping contest. Contestants will have 48 hours to create and submit a single difficulty. Winners will receive 6/4/2 months of supporter with first place also receiving a fancy profile badge. The contest will start on the 28th, so be sure to check out the thread for all the information.

The Community Mentorship program has started preparing for round three. Hosted by Yuii- and Okorin, the program is scouting for mappers motivated enough to take on a beginner mapper to show them the way into the mapping community. The applications are open until the 5th of February so if you are mapping osu! and are interested in this idea, give this thread a read.

handsome has gone out of his way to dig up some neat stats and records regarding mapping during 2016. For example, did you know that there were 481 mappers in 2016, 153 of which were new?

Scorewatch: January Week 3 (with Scorewatch Patrol)

Vaxei just can’t stop choking can he? He managed to set an impressive choke on Izumi Akazawa (CV. Madoka Yonezawa) - Responsibility Response on the Slayed’s Answer difficulty with a 98.08% 2 miss 632pp play. This play, however, is at 303BPM with the DT mod slapped on, forcing him into situations where he singletaps at 303BPM! What can this kid not do?

Cookiezi went a step further beyond the boundaries of insanity and HDDT FCed M2U feat. Guriri - Magnolia on AngelHoney’s ExtrA with a 97.92% 454pp play. Watch out at 0:54 where it all goes down the drain, Cookiezi manages to FC all the sliders despite dropping some sliderends which is an incredible feat regardless. Take a gander at this amazing score.

Chiyoko - Baby Fantastic!(Epsilon Remix) is a 5:34 6.37* marathon map for taiko. So what happens when the global No. 1 decides to try this map with HDDT? Well, he FCs it of course. _yu68 shows that he can still hit those drums to the beat with a 99.57% 633pp play. This is nothing short of breathtaking for this Japanese player.

WindyS has been going on a DT mania run himself too, clinching an amazing 3rd place on the DT leaderboards for orangentle / Yu_Asahina - HAELEQUIN (Extended ver.) on Jinjin’s 7K difficulty. This places the song at a staggering 258BPM. This play is also, apparently, worth 1629pp. I don’t know if that amount of pp equates to the speed seen in this video, how about you judge it yourself!

osu!mania 7K World Cup Week 2: As we Wave goodbye

The quarter finals got off to a solid start with convincing 5-0 win for South Korea in their match against Thailand. South Korea left the group stage having only conceded one point and are looking to make sure it stays that way. With an average accuracy of 99.67%, South Korea are looking just as strong as ever.

We’ve already seen one 5-0 win, but did we see any more? Yes, yes we did. In the second match, we saw another convincing 5-0, this time between China and France. While France did put up a strong fight with some rather close scores on Sora no Senritsu and Hyori Ittai, it just wasn’t enough to calm the Chinese storm.

Chile and Indonesia took to the stage next, with many hoping that this would be the match to break the 5-0 streak. To everyone’s relief, we saw not a 5-0, but a 5-2 in favor of Indonesia. Chile did put up a valiant effort, having the highest scoring player in 4 of the 7 maps.

Our last match of the day was between the United States and the Philippines. While the United States was the favorite going into the match, and managed to snag a few points on both Pink Gold and X-D-A-T, it wasn’t enough as the Philippines surged ahead to a well deserved 5-2 win.

With all the mapping contests, MWC and voting out and about, it sounds like you’ll all be busy for a while. However, If you have any suggestions for what you would like to see in the weekly (and have some spare time), feel free to drop by the osu!dev discord and directly highlight Nyquill or myself (deadbeat) in the #osu-weekly channel. Alternatively, you can also e-mail as usual at news@ppy.sh.

See you next week!

—deadbeat