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Market Mayhem: Bitcoin Sinks Below $3.4K, Ethereum Plummets to Double Digits

Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses — some as high as over 20 percent.

Friday, Dec. 7 — Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses. Some coins are down by over 20 percent, as data from Coin360 shows.

Market visualization

Market visualization by Coin360

Bitcoin (BTC) has taken a steep hit of over 11 percent on its 24-hour chart, and is trading at $3,400 as of press time. Having attempted to reclaim ground above the $4,000 price point in early December — to briefly trade close to $4,300 — the top coin’s recovery has failed to hold, and the asset has seen stepped losses in the days before today’s dizzying tumble.

On the week, Bitcoin is now down by around 20.5 percent; monthly losses are at a severe 47.3 percent.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index.

Second-largest crypto by market cap Ripple (XRP) is down by around 12 percent on the day, trading at almost $0.30 as of press time, according to Cointelegraph’s Ripple Price Index. Ripple’s weekly and monthly charts are also blisteringly red, with losses of around 23.5 and 40 percent respectively.

Ripple 7-day price chart

Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index.

Third-ranked crypto by market cap Ethereum (ETH) has fared even worse, with 24-hour losses pushing 16 percent as of press time. The top altcoin is down to double-digit value, currently trading at $84. On the week, Ethereum down by 31.4 percent; monthly losses are close to 60 percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Virtually all of the remaining top ten coins on CoinMarketCap are seeing deep red; Stellar (XLM) and Bitcoin Cash (BCH) are both down almost 18 percent, at $0.11 and $102.3 respectively; eighth largest ranked crypto Litecoin (LTC) is down close to 15 percent, trading at $25.3, and EOS (EOS) is the hardest hit, down almost 23 percent on the day at $1.68.

Newly-forked “Bitcoin SV” (BSV) is the only exception among the top ten, soaring 20 percent on the day to trade at around $109, sealing the ranking of 5th largest crypto. With a market cap of around $1.94 billion as of press time, BSV is holding a slim margin ahead of BCH; the latter, ranked 7th, currently has a market cap of about $1.77 billion.

Just yesterday, news broke of a new lawsuit from tech development firm UnitedCorp against Bitmain,, Roger Ver, and the Kraken Bitcoin Exchange, which alleges the defendants engaged in manipulation and unfair practices during the immediate aftermath of the BCH-BSV hard fork.

The remaining coins in the top twenty by market cap are all seeing losses of between a 8 and 22 percent range.

IOTA (MIOTA) is down over 16 percent to trade at $0.22: Binance Coin (BNB) is down just under 20 percent at $4.56, and privacy-focused alts Monero (XMR) and ZCash (ZEC) are down 14.5 and 20 percent respectively.

Similar losses have hit Dash (DASH) and Neo (NEO): with the former down 21.7 percent at $61.33, the latter 17.4 percent at $5.85.

Dogecoin (DOGE), ranked 20th, is the “strongest” 24-hour performer, down 2.6 percent at $0.0021.

Total market capitalization of all cryptocurrencies is atca around $107.1 billion as of press time, down around 20 percent since the start of its weekly chart, when it was close to $136 billion.

7-day chart of the total market capitalization of all cryptocurrencies

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

With the markets unremittingly bleak, the United States Securities and Exchange Commission (SEC) has meanwhile yet again postponed its decision on the high-profile Bitcoin (BTC) exchange-traded fund (ETF) from investment firm VanEck and blockchain company SolidX.

A new deadline of the end of February 2019 has now been set; SEC commissioner Hester Peirce — who earned the moniker of “Crypto Mom” for her dissent over the SEC’s decision to reject a Bitcoin ETF proposed by the Winklevoss twins — told investors this week; “Don’t hold your breath” awaiting a BTC ETF approval.

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Dogecoin (DOGE) Defies the Red Bearish Market: Founder Blocks XRP Enthusiasts

The remarkable characteristic of Dogecoin’s token price to refuse obeying the general market movement [from the leader Bitcoin – BTC, to all following altcoins] is being highlighted strongly per time of writing.

For most of 2018, this trend of making surprising value jumps against the US Dollar and BTC has been present for the memefied coin. Whereas Bitcoin loses value and all top altcoins go down with, Dogecoin simply does its own thing at all times. Very stale coin.

Source: coinmarketcap

Breaking above the weekly declining trend that was concluding with a range bound for three days, has opened gates for the pair DOGE/USD to gain and retest the hurdle at $0.0024 as it is changing hands at $0.002370.


Its increasing success throughout the crypto-ecosystem experienced a big hoist when back at the end of August the token transferring bridge between Ethereum and Dogecoin’s chain was announced. While performing as a bridge, it does enable transfers between the two chains easily. The elaborated coin here is in more benefit as its range of operations increases accordingly with the second in lead Ethereum’s flexibility with smart contracts.

Dogecoin Founder – Via his official twitter handle, Jackson Palmer posted his ‘simple automatic blocking XRP accounts script’ with which he started a so called XRP Away campaign.

The move came as a result of XRP enthusiasts counter-replying and storming him because of his negative comments made recently towards Ripple’s XRP. The latest script before being transformed into an open-source code, was used as a ETH scam bot blocking script. Elon Musk called Mr. Palmer for help to fight the spammers which targeted Musk for months.

Read the event: 

Dogecoin Creator And Elon Musk — The Ethereum (ETH) Scambot Fighting Duo?

The post Dogecoin (DOGE) Defies the Red Bearish Market: Founder Blocks XRP Enthusiasts appeared first on Ethereum World News.

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Scattered Gains Bring Respite after Midweek Crash, But Many Alts Continue to See Losses

Crypto markets have slightly stabilized today, although many major coins continue to shed value.

Friday, September 7: after the midweek bloodbath, crypto markets have slightly stabilized today, although many coins continue to shed value, as Coin360 data shows.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin (BTC) is trading at around $6,430 at press time, down just under one percent on the day, according to Cointelegraph’s Bitcoin Price Index.

Despite a bullish start to September, Bitcoin’s price decline set in this Wednesday, September 5. Since then, the leading cryptocurrency has spiralled downwards from a high of $7,391 to over $1,000 less at its intraday low today at $6,354.

The coin is now a stark 16 percent down on its weekly chart. On the month, Bitcoin nonetheless remains up by around 7.3 percent.

Bitcoin’s 7-day price chart

Bitcoin’s 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index

Ethereum (ETH) has tumbled to around $216 at press time, losing just over 3 percent on the day. As with Bitcoin, Ethereum started September strong, briefly brushing the $300 price point September 1 before this week’s price plummet.

On its weekly chart, Ethereum is down just over 23 percent, with monthly losses around 46 percent.

Ethereum’s 7-day price chart

Ethereum’s 7-day price chart. Source: Cointelegraph’s Ethereum Price Index

Among the other top ten coins on CoinMarketCap, only three are in the green, though losses are capped below 3 percent. After Ethereum, Bitcoin Cash (BCH) is down the most, seeing 2.77 percent losses on the day to trade at just under $500.  

Stellar (XLM) is the only top ten crypto to see solid growth, up 4 percent on the day to trade at around $0.207. While it still remains shy of its intraweek high at almost $0.24, XLM-BTC has seen a solid bounce back to its trading levels before the mid-week market plunge set in September 5.

Stellar’s 7-day price chart

Stellar’s 7-day price chart from CoinMarketCap

Among the top twenty coins, all assets, except for two exceptions, are seeing mixed reds and greens in the 1 percent range, showing the coins are holding steady over the past 24 hours to press time.  

Dash (DASH), ranked 12th by market cap, has soared almost 6.46 percent on the day to trade around $185.56, although it is still trading almost 16 percent lower than its value ($220.50) during early trading hours September 5.

Dash’s 7-day price chart from CoinMarketCap

The other exception among top twenty coins is Dogecoin (DOGE), ranked 20th, which is up around 6 percent on the day, capping a week of extraordinary price volatility.

Dogecoin’s 7-day price chart from CoinMarketCap

Total market capitalization of all cryptocurrencies is around $203.5 billion at press time, down over $35 billion from its intraweek high of around $240 billion.

7-day chart of the total market capitalization of all cryptocurrencies

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

Even as the markets tumble, fresh data from management and technology consulting firm GreySpark has found that volumes on crypto marketplaces have burgeoned in 2018, with the U.S. dollar the most actively traded fiat against cryptocurrencies.

Responding to this week’s grim market movements, crypto Twitter has actively mulled the possible impact and price correlation surrounding reports that Goldman Sachs was rolling back their plans to open a crypto trading desk. The banking giant’s CFO refuted the rumors in a statement September 6, calling them “fake news” and affirming the company’s plans were on track.

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Dogecoin (DOGE) Game-Changing Stellar Performance: Ethereum’s ETH Impact on the Coin

It seems as all happened in a matter of seconds. Since Wednesday morning, traders have witnessed a major price plunge as BTC deep-dived to the lows of $6,450 from $7,377 in a day.

As explained in an EthereumWorldNews post, the last day and its speedy decline could make even us crypto-enthusiasts conclude that the market is too volatile to get a thumbs up by SEC. Believing that the crypto recovery will be supported by ETF acceptance from the commission could turn to a long waiting game.

However, impacting your opinion with the original idea on how Bitcoin and the whole blockchain concept initiated, we do not need ETF for the crypto-verse to be significant. When adoption hits the level of making tokens immune to bearish news that the ecosystem could be settled.

With that said and in the midst of this violent sell-off taking place, there is one beloved meme-d coin the community loves – Dogecoin.

Dogecoin DOGE

Surely it is known how altcoins follow the performance majorly of the one in lead Bitcoin BTC against the USD, however in the past week the pair DOGE/USD kept its head above waters with a unique movement pattern. The latest announcement of a Ethereum-Dogecoin network bridge for efficient transfer between the two might have caused the bullish sentiment over the coin. The elaborated coin here is in more benefit as its range of operations increases accordingly with the second in lead Ethereum’s flexibility with smart contracts.

Getting back to the market now, out of all the top-50 leading coins DOGE is the only that is not in the decline with a double digit percentage. Being in the red with only 4.00% for the last 24-hours, it is balancing bulls and bears at $0.0049 attempting to make it above $0.0050.

This independence from the market action showcased by Dogecoin could bring more investment to flow-in while accordingly hoisting the value even more. Additionally it requires a low level of money to put a good amount of the token in your digital wallet.


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Dogecoin (DOGE) Deflates By 22%, But Hype Still Remains

Dogecoin, the well-known meme cryptocurrency that has swept across the web, has had an absolutely stellar week, with the price of the asset skyrocketing in value to the surprise of many investors.

As reported by Ethereum World News on Thursday, the price of the asset surged by 20% to $0.00313 as a result of the positive news surrounding a blockchain bridge between the Dogecoin and Ethereum chains. But in the days that followed, the asset continued even higher upwards, rising to a weekly high of $0.0065, as DOGE doubled in dollar values within a matter of a week.

Many analysts, commentators, and traders caught wind of this crypto asset’s absurd price action, with some jokingly noting that DOGE’s move was a precursor to “altcoin season” or the next bear market. But as the saying goes, “good things don’t last forever,” with the price of the asset seeing a pullback on Sunday morning. At the time of writing Dogecoin is down 20% on the day and has pulled back to ‘only’ 1/2 of a cent ($0.005).

Chart Courtesy of

Price action aside, the development and adoption of this asset still is a hot topic, with a variety of topics only making DOGE look like an even more attractive investment.

Yahoo Finance Adds Doge Trading Support

In an unexpected move, Yahoo Finance, one of the world’s most popular finance-centric sites, revealed that it was adding support for DOGE trading in its ecosystem. Yahoo Finance will introduce support for Dogecoin via its partnership with TradeIt, allowing IOS devices with its app installed to trade BTC, ETH, LTC, and DOGE right on their mobile device.

Many were surprised by the mention of Dogecoin, but as reported previously, this move makes sense, as the ‘memecoin’ holds roots as a fork of Litecoin, which is a relatively simple cryptocurrency when it comes to integration into services.

Yahoo Finance Brings BTC, ETH, LTC Trading Support To Mobile Phones

Following the IOS release, the New York-based Yahoo subsidiary noted that it will eventually add the same support for Android and desktop in the weeks, or months to come.

Many are hopeful that this new feature, which is available to a majority of Yahoo Finance’s gargantuan userbase, will introduce millions of new individuals to the cryptosphere, which will spark an influx of buying pressure.

“Doge4Amazon” Petition Garners 8,000 Signatures

In some circles, Dogecoin has become the currency of choice for microtransactions, p2p tips, and more, as it is easy-to-use, fast (1 minute blocks), cheap (under a cent fee) and relatively stable.

As such, many proponents of the project noted that it would make for a great payment method for Amazon, which is publicly valued at nearly $1 trillion. To make their dreams a reality, a user by the name of Mark started a petition, asking for Jeff Bezos and other Amazon executives to “accept dogecoin as a payment method.”

The petition reads:

Currently, Amazon does not accept crypto-currencies as a payment method alienating many people who do not have a traditional bank account… It’s time for to be one of the first major companies to see the power of Dogecoin and to accept it as a payment method.

This infection hope has evidently spread across the crypto community, with over 8,000 individuals signing their name on the petition. Although this may seem like an unachievable dream for now, many expect that Amazon will accept cryptocurrencies one day, but whether it will be Dogecoin, Bitcoin or any variety of altcoins remains to be seen.


What also drove this move seemed to be the development of Dogethereum, a sort of link between the Dogecoin and Ethereum blockchains that aims to introduce interoperability via a smart contract system and code integration. But as pointed out on the official Dogecoin Twitter page, for now, this bridge is only in its demo phase and will undoubtedly require more work before the eventual full release.

Although the project may just look like a meme to some, Dogecoin is still backed by a strong community of over 100k strong, with roots that go back years on end. And no matter how the price of the asset fluctuates in the years to come, as many in the Doge community like to note, “1 Doge = 1 Doge.”

Photo by Luiza Sayfullina on Unsplash
Girl in a jacket


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Bitcoin vs. Altcoins: Which is the Most Usable for Merchants?

Volatile or not, there’s growing public demand for retailers and businesses to accept payment in cryptocurrency. According to a survey published in June by the United Kingdom-based crypto-exchange CreditCoin, 75 percent of American consumers want the option to use cryptocurrencies to pay for items they purchase in stores. Sadly, the proportion of stores providing this option doesn’t seem to have reached three-quarters yet.

However, the number of merchants accepting Bitcoin (BTC) and other coins is nonetheless steadily increasing, with the number of Bitcoin-accepting stores reported to Coinmap — worldwide — had risen by 3,716 in a single year. There is, therefore, continuing interest among businesses in accepting cryptocurrency as a means of payment, even if the noticeable ups and downs of the crypto-market has strengthened the popular impression that such use might not be 100 percent optimal right now.

Customers & Venues

Yet, a question remains for those merchants still undecided on whether to jump into the world of crypto payments: Which coin is the most usable and practical as a means of payment? Well, Bitcoin has an advantage insofar as the fact that vastly more people hold the original cryptocurrency than they do any other. However, numerous altcoins — particularly Bitcoin Cash, Dash and Litecoin — are already faster and cheaper than Bitcoin as a method of payment, and while they may lack the value of their older rival, they currently provide a more seamless retail experience.

That said, businesses are increasingly becoming less likely to face an either/or choice when deciding on whether to accept crypto as payment. That’s because a number of companies are providing crypto-payment portals that enable merchants to accept a variety of different currencies, while most major currencies are regularly taking steps to improve their transactions speeds and cost-effectiveness. As a result, retailers of the future will find that they can take greater advantage of the fact that people hold (and want to pay for things with) different currencies for different purposes, making the situation a win-win for more than one single coin.

Bitcoin: Popularity and (relatively) stable value

One of the simplest and most important requirements that has to be met by a cryptocurrency before any business begins accepting it is that it be held by a large number of people. If this condition isn’t met, then a merchant would be limiting their market by accepting it rather than a more popular rival. This is why — forgetting how cryptocurrencies and their blockchains actually work for a moment — Bitcoin is still the most viable currency for retailers to accept.

There are now some 27.6 million Bitcoin wallet addresses in existence, while there are in fact 40.7 million Ethereum addresses. However, before it’s concluded that there are more Ethereum holders than Bitcoin holders, it needs to be pointed out that a significant proportion of these addresses are smart contracts rather than wallets — and there’s also the fact that the Ethereum blockchain houses 599 ERC-20 tokens, which are included in its address count. And while there’s no specific data that breaks down this figure into contract and wallet addresses respectively, there is data on the number of addresses that have been active within the last 24 hours, and it shows that Bitcoin has more active wallets than any other coin:

Active Adresses

Putting aside estimations and calculations, there’s other evidence to suggest that Bitcoin is the decisive winner in crypto popularity stakes. In March, consumer website published a survey which discovered that 5.15 percent of Americans owned Bitcoin, compared to Ethereum’s 1.8 percent and Bitcoin Cash’s 0.9 percent. Similarly, a poll of gamers conducted by the Swiss-based gaming company also found that Bitcoin was the most popular cryptocurrency, with 83 percent having purchased Bitcoin compared to 75 percent buying Ethereum. And lastly, 60 percent of Americans have heard of Bitcoin, with only 46 percent and 41 percent having heard of Ethereum and Litecoin respectively.

This all suggests that, for any merchant wanting to ensure that they open their doors to as many potential customers as possible, Bitcoin would be the way to go — that is, if they could accept payment in only one cryptocurrency. And according to those who track merchant acceptance of cryptocurrency, it appears to be the way most customers and merchants are still going, despite the recent growth in the usage of altcoins.

Devan Calabrez, the co-founder of crypto-merchant search engine Spendabit, which is currently inviting retailers to participate in a new survey on the coins they accept, said to Cointelegraph:

“BTC is by far the dominant cryptocurrency for transaction. This is likely due to the maturity of BTC, its ‘brand recognition’ and the momentum of Bitcoin.”

Calabrez explained that much of the draw of Bitcoin is its ability to attract new markets:

“Merchants are always looking for ways to bring in more sales. Some merchants are interested in riding the ‘cryptocurrency wave’ from a marketing point of view, and they accept cryptocurrency to get more business. To them, it’s a marketing experiment with minimal overhead to add acceptance alongside mitigated risk of chargeback.”

And aside from “brand recognition” and momentum, Bitcoin has emerged through the recent crypto-market turbulence as one of the more resilient coins, and it’s this that also adds to its usability from the perspective of merchants. It may still be volatile compared to, say, the U.S. dollar, but it’s held much more of its value during the recent bear market than its rivals. For example, over the month leading up to Aug. 14, it fell by 2.7 percent, from $6,230.32 to $6,061.74. However, by contrast, Ethereum, Ripple, Bitcoin Cash and EOS fell by 38.5 percent, 39.5 percent, 29 percent, and 36.5 percent respectively. This is a big difference, and while plenty of traditional economists would argue against accepting any kind of cryptocurrency as a means of payment, it’s clear that Bitcoin is the best in terms of preserving its value.

Admittedly, the fact that Bitcoin has been preserving its value and may very well continue appreciating steadily in the future is also a knock against its usability, although not so much from the perspective of merchants. Because Bitcoin could potentially rise — perhaps even bullishly — owners of BTC are discouraged from using it to buy a pizza, for example, since most are now acutely aware that today’s BTC equivalent of a pizza could be worth so much more in a year’s time.

“Not spending Bitcoin until it becomes the unit of account,” said MATH_BOT founder Nate Agapi on Twitter in early August, while another Twitter user encapsulated this anti-spending ethos by writing:

Nonetheless, even with the reluctance of some holders to part with their Bitcoin, BTC is still being spent more liberally than any other cryptocurrency. Last December, BitPay reported that it had processed BTC payments worth over $1 billion, while it currently processes a Bitcoin transaction every 10 seconds. Meanwhile, it processed $591 million in transactions in the first half of 2018 alone — up 40 percent compared to the same period last year — according to BitPay’s PR representative Jan Jahosky. And to put this in perspective, Jahosky told Cointelegraph that, even though the company began processing Bitcoin Cash payments at the beginning of this year, Bitcoin remains dominant:

“Bitcoin Cash, which BitPay started to accept earlier this year, is less than 10 percent of BitPay’s volume. Bitcoin remains the most popular and over 90 percent.”

Altcoins have lower transaction fees and confirmation times

Aside from the disadvantage of discouraging a portion of its owners from actually spending it, Bitcoin also doesn’t compare favorably with certain altcoins in terms of how it can actually be used in practice to buy goods and services. Devan Calabrez acknowledges:

“Bitcoin is definitely useful as a means of payment, especially for higher price items and across borders. On the other hand, few people are using Bitcoin to buy cheap items like paper plates, for good reason. The weaknesses include high volatility, transaction times and fees that are paid by the buyers which create barriers to conversion. The weaknesses tend to put a damper on sales by Bitcoin for low-cost items.”

BTC generally has the highest transaction fees of the major cryptocurrencies. BitInfoCharts puts its current average transaction fee at $0.72. This might seem relatively low when compared to the $55 peak in fees it witnessed in December, but as the list below illustrates, it still falls distinctly short of its major rivals:

Avg Transaction Fees

These are current averages, but when you look at the six-month and annual charts, it becomes apparent that, during times of heavy congestion, Bitcoin also tends to spike upward more dramatically than its nearest competitors. On June 20, its daily average fee shot up to $6.852, an increase of 132.6 percent compared to the day before. On the other hand, Bitcoin Cash and Dash’s six-month peaks were only $0.217 and $1.25 respectively, with these highs both falling on Feb. 20, when Bitcoin’s average fee was $3.042 (it rose to $6.209 four days later). Meanwhile, Litecoin’s six-month peak was $0.416 (on Feb. 26), although Ethereum’s was $5.528 (on July 2, when it was most likely subjected to a spam attack).

Bitcoin may be popular, but …

Bitcoin may be popular, and it may be a good store of value, but it’s clearly not the cheapest way of buying goods. Even though its transaction fees have gradually declined since the SegWit upgrade was rolled out in February, the occasional surge of congestion can increase fees by as much as a few dollars — something which can make a considerable amount of difference when what you’re purchasing is less expensive than the fee. Indeed, Devan Calabrez told Cointelegraph that BTC’s “non-trivial transaction fees” have created a certain amount of friction with businesses, with some receiving complaints as a result of their customers having to pay the same amount of money for transaction fees as they do for the items they want to purchase.

“As someone who has accepted Bitcoin since 2011,” said one unnamed merchant registered with Spendabit, “it is very sad for me to see that use case dry up. There may be some hope in the future with the Lightning Network […] For now, I recommend they use BCH.”

The issue of BTC’s fees is compounded by its longer confirmation times, with the average confirmation time notoriously hitting a peak of 11,453 minutes — i.e., seven days, 22 hours and 53 minutes — on Jan. 23. As with fees, it’s now doing much better thanks to its SegWit upgrade, seeing as how its average confirmation time for the week between Aug. 1 and Aug. 8 was only 14.7 minutes. Yet, it still has some work to do — not least because the average is meant to be only 10 minutes. For instance, the average block time for Ethereum was a mere 14.5 seconds during this same week (according to Etherscan), while the current averages for Dash, Litecoin and Dogecoin are 2.37, 2.43 and 1.02 minutes respectively.

However, it’s not just slow confirmation times that restricts Bitcoin’s usability, but also its 1MB block size and the average number of transactions it can process per second. This number remains technologically limited, with the current upper ceiling being seven transactions per second — although the SegWit upgrade technically multiplied this by four. Conversely, Ethereum can reportedly handle a theoretical maximum of 30 transactions per second, while Bitcoin Cash’s block-size limit of 32MB should mean that it can handle 32-times as many transactions as Bitcoin — i.e., around 224 per second. While not quite as fast as this, Litecoin is still four times faster than Bitcoin (forgetting SegWit), given that its block confirmation time is a quarter of Bitcoin’s. Similarly, Dash’s theoretical limit at launch was four times that of Bitcoin’s (i.e., 28 per second), although in December, it changed its block size from 1MB to 2MB, thereby doubling the number of transactions it could handle per second.

Bitcoin Cash

Simply put, Bitcoin can’t — in its current state — handle a high throughput of transactions as well as its main rivals. In particular, it presently comes nowhere near topping the speeds offered by Bitcoin Cash, which at maximum beats its closest rival — Dash — by approximately 168 transactions per second. On top of this, Bitcoin Cash also has the lowest transaction fees, meaning that it’s the most usable cryptocurrency from a standpoint that focuses mostly on cost and speed. It’s largely for this reason that the coin has won many converts in the crypto community since forking from Bitcoin on Aug. 1, 2017.

“Bitcoin Cash is what I started working on in 2010,” said one-time lead Bitcoin developer Gavin Andresen in a November tweet, “a store of value AND means of exchange.”

Devan Calabrez agrees that Bitcoin Cash has reason to be recommend as an alternative to Bitcoin and other currencies, particularly with respect to the purchase of cheaper products. “BCH seems to be evolving as a compliment to Bitcoin,” he explains. “Merchants appreciate the faster transaction times and low fees, which are also appealing to shoppers. This is particularly true for merchants that sell lower ticket items, where even small fees can increase the bottom line by a significant fraction. So, for all intents and purposes, two of the three weaknesses can be considered overcome under the current conditions. However, volatility is still a big concern, which is why most merchants immediately convert to another currency rather than hold BCH.”


And while Bitcoin Cash may seem like the best practical option to some, one of its closest rivals in terms of cost-effectiveness — Dash — informed Cointelegraph that it’s gaining considerable traction among retailers.

“The Dash network is specifically designed for the payments use case,” said Dash Core CEO Ryan Taylor. “It offers instant payments, which makes it viable at the point of sale. In addition, fees are very low, with a median transaction fee of about one-tenth of a cent. This combination makes Dash feasible for everyday consumer purchases. We also focus a lot of effort on making the network useful by funding business integrations, and today Dash is among the most accepted digital currencies. Merchant adoption is growing quickly. The number of listings on — a website for merchants to register — has experienced 250 percent growth over the last six months, and Dash is now accepted at over 2,200 merchants globally.”

Taylor is realistic about Dash’s — and crypto’s — prospects of becoming a ubiquitous payment method, believing that this process will take “many years.” Nonetheless, circumstances in certain economically pressured nations reveal that the speed and ease offered by such currencies as Dash make them ideal as new payment vectors.

“I think we can become ubiquitous within specific countries or regions, or within certain industries as a first step. That could happen very quickly, and we’re already seeing that happen in certain locations. Venezuela, which is currently experiencing hyperinflation, has over 800 merchants [reportedly more than all other cryptos combined], making it the highest density of Dash acceptance in the world. I would expect pockets like that to develop as a base from which we can continue to expand.”

Decentralization and choice

Speed and cost are important factors when considering which cryptocurrencies to accept as a merchant, yet they can count for very little in cases where price fluctuations threaten to reduce the value of a payment you’ve received. This is why there’s no hard-and-fast answer to the question of which cryptocurrency is the undisputed champion of usability for retailers, since Bitcoin has fared much better in preserving its value recently than most altcoins. Added to this, Bitcoin may not be as fast or as scalable as some of its rivals, but it is more decentralized than many of them on a number of levels, and with greater decentralization comes greater security of its network.

For instance, there are reports that Bitcoin Cash is significantly more centralized than Bitcoin. For one, the 32MB block size may tend toward greater centralization of mining nodes in the future, since the ability to process 32MB blocks requires the kind of computational power that only the biggest mining companies are likely to possess. And secondly, there are reports that Bitcoin Cash is already quite centralized as it is — even as most nodes do not yet use the full 32MB bandwidth — with Jameson Lopp revealing data in December which indicated that as many as 54 percent of Bitcoin Cash nodes are running on Hangzhou Alibaba virtual servers in China, compared to 2 percent of Bitcoin nodes.

Such (relative) centralization arguably puts a blockchain at greater risk of failure, since it could theoretically be disabled by a government agency shutting down a small handful of servers or nodes. Clearly, this isn’t what any business or retailer would want from a cryptocurrency they’ve just begun accepting as payment — although, even if Bitcoin is more decentralized than Bitcoin Cash when it comes to servers, the dominance of Bitmain gives it problems of its own when it comes to mining. And in terms of block share, it’s not as decentralized as Bitcoin Cash or Dash, since the top four Bitcoin Cash and Dash miners produce 55.1 percent and 41 percent of blocks, compared with 57.5 percent for Bitcoin — it’s currently 69.75 percent for Ethereum, 68 percent for Litecoin.

However, before we descend into an endless — and often subjective — debate about which cryptocurrency is the most decentralized, it’s worth noting that merchants and businesses don’t have to choose only a single coin when deciding to accept crypto as payment. Increasingly, platforms are becoming available that enable merchants to accept any one of the multiple cryptocurrencies, thereby providing their customers with a choice of different coins to pay with — which effectively enables them to lean on the strengths of each currency at different times.

For example, Coinbase Commerce was launched in February of this year, and as the company explained in a blog post, it makes accepting numerous coins easy for businesses and online retailers. “Coinbase Commerce can be directly integrated into a merchant’s checkout flow or added as a payment option on an e-commerce platform,” read the launch announcement. “With just an email address and a phone, merchants can sign up and begin accepting payments in Bitcoin, Bitcoin Cash, Ethereum and Litecoin.” And since its launch, it has been integrated with a number of e-commerce platforms, such as Shopify and WooCommerce, bringing the possibility of accepting crypto payments to millions of retailers, as WooCommerce powers around 22 percent of online stores on the web.

And there are other platforms that make accepting multiple cryptocurrencies possible, including BitPay and CoinGate. CoinGate, for example, is a Lithuania-based platform that enables businesses to accept payments in Bitcoin, Ethereum, Litecoin, Dash and over 50 other altcoins. This March, it announced a new partnership with the France-based PrestaShop e-commerce platform, enabling it to reach over 80,000 merchants within the EU. As it said in its press release, the cryptocurrencies it offers “are in a single payment environment, that caters [to] the widest range of cryptocurrency owners,” and that, therefore, eliminates the need for merchants to make a false choice between numerous coins, each with their own advantages and disadvantages.

As such platforms expand and proliferate, there will obviously be less need for merchants to choose between the usability of competing cryptocurrencies. And funnily enough, the beauty of such platforms will be that, by making cryptocurrencies more accessible as a means of payment, their expansion will also make crypto more usable. Not only will their increasing use stabilize their values — thereby rendering them less volatile — but the increasing pressure and testing provided by real-world usage will force and enable development communities to come through with innovations, bug fixes and scalability improvements more quickly. The situation will be a win-win for merchants and customers alike, and given that crypto-payment platforms will increasingly offer a wide range of coins, it will be a situation that mutually benefits all cryptocurrencies, not just the ‘most usable’ one.

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Yahoo Finance Brings BTC, ETH, LTC Trading Support To Mobile Phones

As reported by Ethereum World News previously, Yahoo Finance, one of the world’s most popular finance-centric sites introduced support for a native crypto trading feature. On Wednesday, the website allowed its users to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) via Coinbase and Robinhood API integrations, without ever having to click off Yahoo Finance.

The crypto community erupted after hearing this news, with the likes of Litecoin founder Charlie Lee and Anthony “Pomp” Pompliano, Morgan Creek Digital Asset’s founder, expressing their excitement for the adoption this could bring.

While this feature was legitimately available for approximately 24 hours, Yahoo Finance has since suspiciously removed crypto trading support. Obviously, this threw many for a loop, with some wondering what had caused the California-based internet giant to abolish the feature.

After hours of confusion, Yahoo came out to give insight on its crypto-friendly move, alluding to a fact that on-site support might have been a premature maneuver. Opening its press release, the site, which has become popular for its coverage and provision of data for legacy markets, drew attention to its previous moves to accommodate crypto investors, such as adding “over 100 cryptocurrency quote pages across all platforms globally” and covering news that pertains to the crypto/blockchain industry.

Staying in line with its ostensible affection towards all things crypto, Yahoo Finance revealed that it will now “allow its users to act on that information, and trade cryptocurrency directly from its platform.” It seems that the technology firm has its eyes on offering IOS trading support before anything else, revealing that a partnership with Tradeit has allowed Yahoo to act on its plans. The release elaborated, noting:

The new feature, launched this week on the iOS app, allows users to buy and sell a variety of cryptocurrencies by linking their account – via an integration with our partners at TradeIt –  including Bitcoin, Ethereum, Litecoin and Dogecoin.

Oddly enough, this time around, users will now be able to trade Bitcoin, Ethereum, Litecoin, and Dogecoin too apparently. It is unclear whether Yahoo failed to mention Bitcoin Cash (BCH) this time around, or dropped support for the Bitcoin fork entirely. But support for Dogecoin (DOGE) adds up, considering the fact that this specific asset is a relatively simple coin in terms of its technological background, as it holds roots as a Litecoin-based cryptocurrency.

Yahoo Finance’s release also noted that Android, desktop, and mobile web integrations are coming soon. Expressing her excitement for this foray into crypto trading, Joanna Lambert, the General Manager of Finance & Tech at Oath (Yahoo’s Parent Company), stated:

As the leading provider of financial data, insights, and editorial content, we are constantly looking for ways to better serve audiences on the Yahoo Finance platform. We first launched our integration with Trade It one year ago, allowing people to trade on Yahoo Finance for the first time ever.  We’re excited to expand this offering to cryptocurrencies, further connecting our passionate community of investors with relevant utilities on our trusted platform.

It is unclear whether this move has had any discernable effect on the market, but many hope that this feature will only propel the adoption of crypto assets for years to come.

Photo by Sven on Unsplash
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Despite Desktop Appearance, Yahoo Crypto Trading Is Currently Available Only on iOS App

Following a rollout of buy and sell options for Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC)  yesterday, Yahoo clarified in an email to Cointelegraph that, at the moment, its new service will only be available on its iOS app.

Yesterday, Cointelegraph reported that Yahoo Finance integrated a trading option for BTC, ETH, and LTC on its platform when buy/sell buttons appeared on their website. When the buy/sell buttons were absent from the webpage today, Yahoo Finance PR representative Caitlin O’Neill explained:

“[Y]esterday’s launch was for the iOS app only — it should still be available and visible there. Desktop, mobile web, and Android will be available in the coming weeks.”

At press time, Yahoo had not explained why the option was temporarily available on desktop computers.

According to an August 30 press release, users that wish to trade crypto on Yahoo Finance will have to link a broker account via integrated third party service TradeIt.

“The new feature, launched this week on the iOS app, allows users to buy and sell a variety of cryptocurrencies by linking their account – via an integration with our partners at TradeIt –  including Bitcoin, Ethereum, Litecoin and Dogecoin. Android, desktop and mobile web are coming soon.”


Meanwhile, Bitcoin, Ethereum, and Litecoin are seeing corrections today, with BTC down by 1.76 percent in 24 hours, according to Cointelegraph’s Bitcoin Price Index. BTC is trading at around $6,918 at press time. On the week, BTC is up 6.39 percent, with monthly losses around 15 percent.

ETH is trading at around $278 at press time, having lost 3.21 percent over the last 24 hours. While ETH’s weekly gains remain just over 1 percent, monthly losses are getting close to 39 percent.

LTC has lost almost 3 percent on the day and is trading at around $60 at press time. Market capitalization of LTC is around $3.5 billion, while its trading volume over the past 24 hours totals around $218 million.

Dogecoin (DOGE), which has no limit to how many coins can be mined, currently has almost 116 billion in circulation. The altcoin is up by 26 percent on the day and is trading at around $0.0033, at press time. DOGE reached a $1 billion market capitalization in January of this year, when it was worth more than the Japanese yen, while at press time its market cap is around $384 million.

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Dogecoin DOGE/USD Only Double Digit Gainer: Above 20% as Doge-Ethereum is Announced

For the past few months Dogecoin has been making various major announcements as an attempt to keep up with the growing crypto-verse. The latest now being the team declaration that on Sep 5th, 2018 the token transferring bridge between Ethereum’s network and Dogecoin’s chain will be released.


The team behind the meme-d coin is working rigorously on the smart contract – Dogethereum. While performing as a bridge, it does enable transfers between the two chains easily. The elaborated coin here is in more benefit as its range of operations increases accordingly with the second in lead Ethereum’s flexibility with smart contracts.

When the connection is commenced, Dogecoin will gain from the link by being supported from Ethereum’s stable token price movement and liquidity. This comes as a conclusion from the services that Ethereum delivers.

– Dogecoin (DOGE) founder, Jackson Palmer, has weighed in on an alleged cryptocurrency theft linked to internationally recognized telecommunications company AT&T, saying it is surprising cryptocurrency millionaires are falling prey to the same technology they are advocating.

Palmer and other cryptocurrency enthusiasts are disturbed over the $23.8 million stolen fund of U.S. entrepreneur and cryptocurrency investor Michael Terpin.

“Don’t get me wrong, SIM jacking is ridiculous and 1) cell providers need to get their act together + 2) services need to stop supporting SMS 2FA.”

– The California-based fintech firm Robinhood announced that it will be listing Dogecoin on its rapidly expanding feeless crypto mobile app. This announcement comes only a few days after Robinhood revealed support for Litecoin and Bitcoin Cash.


The only in the gain on the 30th of Aug, 2018 – the pair DOGE/USD as it flies above the $0.003000 mark reaching $0.003133 with 23.27% increase in the last 24-hours. It is leading the BTC market for 25.39%.


Source: coinmarketcap

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Plz No Cat: The Future of Crypto Disputes Is Being Decided By Doges

Could you sneak a cat past the doges?

That’s the idea behind a new game launched by Kleros, an ethereum-based startup that raised $2.5 million in the first round of its crypto token sale in July. Called “Doges on Trial,” the game is designed around the principle of crypto-economics: the theory that a properly designed system of incentives based on cryptocurrency tokens will yield the desired user behavior.

In this case, Kleros wants to incentivize people using the platform to curate a list of images … of doges.

For the uninitiated, “doge” is a meme of an apprehensive-looking Shiba Inu. It’s captivated the internet, giving birth to a particular method of mangling English (“so scare,” “why this happened”), as well as a dedicated cryptocurrency, dogecoin, whose community is known for its playful antics.

So, while you might expect “Doges on Trial” to be much the same – just a fun activity to bring some lightheartedness to crypto – actually Kleros has much bigger, more serious use cases in mind for its decentralized dispute resolution protocol.

For instance, spotting fake news, resolving disputes on gig economy and e-commerce platforms, and helping ratings platforms curate their lists are all within the scope of Kleros’ mission.

The company’s founder and CEO Federico Ast told CoinDesk:

“We want to fill this need for the crypto ecosystem that’s going to be very useful for mass adoption.”

And needed it is. Recently dispute resolution, or more broadly governance, has been top of mind for many blockchain entrepreneurs and enthusiasts – especially for a new rash of protocols, think EOS, whose methods for making decisions that affect many stakeholders are opaque, to say the least.

Rather than building their own dispute resolution mechanisms, though, Ast hopes projects will delegate that aspect to Kleros.

And the way that Kleros, which is participating in the Thomson Reuters Incubator program right now, is proving it has the right crypto economics for the job is by running a cute little game in which users are rewarded for slipping forbidden cat images into a collection of doges.

The goal, Ast said, is “to have as many people as possible coming to test this and trying to break it” through bribery and other methods that bad actors would inevitably try to use against Kleros if it were deployed for higher-stakes purposes.

Remaining relatively quiet about the game that debuted on ethereum’s live blockchain, or “mainnet,” in July, the company is now ready to start communicating the system’s effectiveness to the broader ethereum community, said Ast.

Plz no cat

Backing up, it’s worth noting how the doge proof-of-concept has worked.

Over the course of the past couple months, a few dozen users, mostly investors in the platform’s native token, pinakion (PNK), have submitted more than 100 images for judgment and selection.

It works like this: a user submits their image – a doge, cat or otherwise – to the list along with a deposit of ether, ethereum’s native token. The image sits in limbo for a day, during which time other users can challenge it by submitting an ether deposit equal to the submitter’s.

If no one challenges it, the image is added to the list and the submitter’s deposit is returned.

At the end of the trial (for which no date has yet been set), successful meme-submitters will split a reward of 1 million dogecoin.

If the image is challenged – because it lacks a doge, is a duplicate, or contains a cat – it goes before a jury of three users, who have made a deposit of Kleros’ PNK token.

The jury then makes its decision to reject or approve the image. If you are a jury member that votes in dissent with the majority, you forfeit some PNK tokens, which get redistributed to the majority-voting jurors.

If the meme is accepted, the challenger’s ether deposit goes to the submitter, minus a fee for the jurors. If it’s rejected, the challenger gets the submitter’s ether deposit, also minus the fee.

doges challenged

The submitter of the image can appeal the decision, however, by making another ether deposit. Then, the same process as above repeats itself, but with seven jurors. And after that, the submitter can appeal the decision with a jury of 15.

The reason for increasing the number of jurors with each round of appeals, Ast explained, is that bribing a majority of the jurors gets more expensive.

“It’s going to cost you a lot of money to keep on attacking the system and to win,” Ast said.

One user, Tristan Roberts, tried this route, posting a picture of a cat with an offer to pay jurors 0.3 ether to break the rules. Roberts told CoinDesk that he found it “practically impossible to keep bribing the jurors, [since] the amount of ETH I would win would be less than the amount needed to bribe them.”

doges bribery

“All in all, I’m impressed with how the game theory dynamics worked out; I wasn’t able to break it,” said Roberts.

Although, at least one user does appear to have sneaked a cat onto the list. According to the Doges on Trial rules, they’re entitled to receive two ether and a CryptoKitty for beating the system. The ultimate decision as to whether the picture below contains an illicit cat will be left up to Coopérative Kleros, the legal entity behind the platform’s development.

doges cat

Such partnership

If Kleros proves its mettle with Doges on Trial, Ast said, the platform could serve as an arbitration layer for swathes of the blockchain ecosystem.

A number of cryptocurrency projects in different niches, such as e-commerce and gaming, are building out their own dispute resolution mechanisms, he explained, adding:

“Our vision is to tell all of these guys, just focus on your platform, on your product, and just delegate arbitration to Kleros.”

And already, some are interested.

In March, the Kleros team said it would integrate the platform with Ink Protocol, a cryptocurrency payment and reputation system built on ethereum. Ink’s native token XNK has replaced the credit system on Listia, an e-commerce site with 10 million registered users, in which individuals trade goods among themselves using credits rather than buying them from vendors.

The same month, Kleros announced a partnership with Dether, which allows users to buy and sell cryptocurrencies locally for cash.

For certain use cases, though, Kleros faces competition. Civil, for example, has developed a similar crypto economic system targeted specifically at identifying and weeding out fake news.

And the decentralized prediction market Augur shares Kleros’ goal of “keeping people honest on the blockchain through game theory,” according to Kleros crypto economics researcher William George, in a recent blog post.

Still, Ast remains optimistic that tons of use cases exist for the platform.

“There are lots of use cases of Kleros that we don’t even know [about yet] … people are going to find them eventually,” he said.

Doge meme images via 

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