Cobalt on the blockchain: Overstock subsidiary tZERO develops tokens for rare earths

The tZERO Group is to develop a blockchain solution for cobalt trading on behalf of Chinese GSR Capital. The overstock subsidiary tZERO and the investment company GSR want to create an ecosystem for tokenized raw materials in Asia.

Cobalt gets on the blockchain – at least when it comes to the overstock subsidiary tZERO. On behalf of the Chinese investment company GSR Capital, tZERO is to work on a smart contract solution that enables the trading of tokenized assets. Cobalt will be the first asset to be issued by Smart Contract. In addition, the two companies plan to create an ecosystem for tokenized commodity trading in Asia. In addition, they are flirting with the establishment of a platform for security tokens – the hobbyhorse of tZERO.

Beside tZERO and GSR there will be another Bitcoin formula partner, not named by name:

“To add another important Bitcoin formula partner to this project, the companies will extend the deadline for completing their previously announced capital investment to February 28, 2019, is the message of a joint company press release published on 17 December.

Overstock CEO, tZERO CEO and Blockchain enthusiast Patrick M. Byrne sees Blockchain technology as the future for commodity trading:

“Smart contract automation of these transactions will significantly reduce overall costs and at the same time effectively improve transparency in the procurement of rare earth metals along the entire supply chain. We look forward to bringing the future of raw material sourcing to the global market.”

Blockchain bull Byrne

Only in November Byrne had told the Wall Street Journal that Overstock wanted to rely completely on Blockchain in the future. The company wants to give up retail business completely in the coming year – probably also because the competition in the form of Amazon is too far superior. With Medici, Overstock has a venture capital subsidiary that makes targeted investments in the DLT sector. So far with little success: In 2017, Medici generated a loss of 22 million US dollars. The first nine months of this year were even worse for Medici with a loss of 39 million US dollars.

Nevertheless, Byrne remains as committed to the strategy as he is to his belief in blockchain technology. Byrne thinks long-term and is not upset by Medicis’ current losses.

Bomb threats in the USA: blackmailers demand Bitcoin

In the United States of America, a particularly audacious e-mail is making the rounds. Blackmailers threaten to blow up public buildings and demand a ransom in Bitcoin.

Bitcoin news: Terrorism à la crypto

The blackmailers demand 20,000 US dollars in Bitcoin – otherwise they want to blow up buildings. As Bitcoin news reported on 13 December, an e-mail went out to public institutions and private individuals threatened with bombs. Read more about it: https://www.onlinebetrug.net/en/bitcoin-news-trader/ According to the reports, the blackmailer’s e-mail said:

“How do you do? My mercenary carried the bomb into the building where your business is run. My mercenary built the bomb under my direction. It can be hidden anywhere because of its small size, it is impossible to destroy the supporting building structure with this explosive, but if it identifies itself as such, there will be many injured.

My recruited person observes the situation around the building. If he notices suspicious activities, panic or police officers, the device will be blown up.

I can call my husband back when you make a transaction. The price for your security is $20,000. Send it to me in Bitcoin and I assure you that I will withdraw my mercenary so that the bomb does not detonate. But don’t try to fool me – my warranty only comes into effect after 3 confirmations in the blockchain.

If there are problems with the transaction, you have to solve it by the end of the day

When the working day is over and people start leaving the building, the bomb will explode.”

“Nothing Personal
As one can further infer from the threats, it is nothing personal, rather the extortion is purely business threats:

“It’s nothing personal, just a business. If I don’t see the Bitcoin and a bomb explodes, other companies will send me more Bitcoin next time, because it’s not a one-time action.

I won’t log in to this email anymore, I monitor my wallet every twenty minutes and when I receive the money, I’ll give my husband the order to leave.

If the bomb explodes and the authorities see this email, we are not a terrorist society and do not take responsibility for explosions in other places.

However, as the local police in Oklahoma point out, such threats have been received in large numbers. However, they are not to be taken seriously, rather they have so far been able to determine “nothing to be taken seriously”. So it says in the tweet of the responsible authority:

We’re working a number of bomb threat calls in OKC. There have been similar threats called into several locations around the country. No credible threat found at this point. We encourage the public to continue to be vigilant and call with anything suspicious.

– Oklahoma City Police (@OKCPD) 13 December 2018

Suspicion of Scam
Similar threats became known at the beginning of November. Here, blackmailers in the Netherlands threatened with hand grenades if those affected did not comply with the ransom demand. So far, however, there have been no known explosions.

100 Dutch dealers receive free Bitcoin terminal by the news spy

BitPay has teamed up with the startup BitStraat to launch the Amsterdam Bitcoin City project. The project aims to establish Amsterdam as the “Bitcoin capital of the world”.

Interest and the news spy competition

In order to do justice to the news spy title, BitPay and the news spy BitStraat have jointly developed a Bitcoin terminal which is distributed free of charge to exactly 100 dealers in the Netherlands. BitStraat was founded by Max Barendregt and Kasper Keunen and acts as an intermediary between Bitcoin accepting companies and the payment processor BitPay.

“It makes perfect sense to establish Amsterdam as the Bitcoin capital,” Barendregt says.

“The Dutch capital has proven in the past that it is open-minded, forward-looking and open to new technologies. A decentralised currency for the people would be very welcome. We try to make it possible for all citizens and visitors in the city to pay with Bitcoin. This includes hotels, trips, museums and food in local restaurants.”

The community comes first

Barendregt and Keunen presented BitPay’s ambitions at the Bitcoin2014 conference last May in Amsterdam. BitPay had opened its new headquarters in Amsterdam just a month earlier and was immediately enthusiastic about the idea, according to Moe Levin of BitPay:

“Our community created us, so our philosophy remains simple: We put the community first. This means that every local project that Bitcoin distributes further also spreads interest and brings Bitcoin a bit closer to the mainstream”.

The Point-Of-Sale (POS) terminals for Amsterdam consist of a tablet with special software. The tablet is located in a specially made stand that can be set up at almost any shop counter.

The terminal, the installation and the BitPay payment processing are free of charge for the first 100 companies with a turnover of at least 900 Euro.

Companies that register afterwards have the choice of paying: 10 Euro per month for the complete service or they buy a terminal for an unbeatable 120 Euro.

So far there are 18 registered dealers, but some still need to install the terminal. BiStraat and BitPay hope to have reached the 100 dealers next spring.

To become the Bitcoin capital of the world, Amsterdam has to catch up with another Dutch one: Arnhem`s Bitcoincity had already recruited 15 Bitcoin accepting companies in May and has more than doubled the number to 36 since then.

Altcoin cryptosoft market analysis – Rebound after price fall

Total market capital fell to 329 billion euros. Accordingly, all crypto currencies of the top 10 had to cope with price losses, but a slight recovery is discernible.

The price development of the ten crypto currencies with the highest market capital, which is stated in billions of euros, is shown. For crypto currencies that are currently not directly exchangeable into euros, the respective trading pair was taken with US dollars as the basis and converted into euros.

The end of last week was marked by the fall of many crypto currencies. Whether or not the Upbit stock market investigation was responsible for this price drop: it is well known that the market likes to react quickly to FUD. In any case, the crypto currencies within the top 10 have fallen by an average of 13 percent. Bitcoin itself fell by 10 percent, which is more in the range of noise in crypto markets.

The majority of the cryptosoft prices show a similar behaviour:

On May 12, the cryptosoft price fell to a monthly minimum, tested an important support line and was able to rise again. In this respect, everything looks like a rebound after the recent cryptosoft price fall. Market capital fell from 366 billion euros to 329 billion euros. Nothing has changed in the structure of the top 10.

As was the case last week, one should not simply take a long position, but should for the most part wait for the resistances to be overcome or for the support to bounce back. Analogously, one should wait for a breakthrough of the support or a rebound at a resistance with regard to a short position.

Best price performance: Ethereum (ETH)

Even though the Ethereum price has been falling since 6 May, it continues to behave “according to plan”: Although the second support announced last week was even undercut, the price could bounce off a third support line. Accordingly, the hope remains that a handle of a second larger cup-and-handle pattern will be formed here. In comparison to the other crypto currencies of the top 10, the Ethereum rate “only” fell by almost 4 percent.

The negative, but rising MACD and the RSI at 50 together with the price and trend speak a neutral language. Before setting a long position, however, one should wait for a break through of the resistance at 643.92 Euro or a bounce at the support at 537.62 Euro. The resistance is defined by the temporary maximum of May 10th, the support line is described by the beginning of March, the end of April and the 1st and 12th of May.

Worst price performance: EOS

After the EOS rally at the end of April there had to be a breather! After the EOS course moved sideways in a triangle pattern at the beginning of May, it fell below the exponential moving averages EMA50 and EMA100 and back to the plateau on 11 May. The price went through this between 24 and 26 April. It had to cope with a total of 20 percent price losses.

A negative but slightly rising MACD and an RSI at 36 confirm the downtrend and lead to a bearish impression. Accordingly, one should rather wait for a rise above the resistance at 13.07 Euro or a bounce at the support at 10.30 Euro and then open a long position. If you want to shorten, you should wait until the price falls below the mentioned support. The support is described by the minimum of the last week, while the resistance is at the level of EMA50 and EMA100.

Stability of the Top 10
Even though the Bitcoin Cash rally is over, the gap between Ripple and Bitcoin Cash is still only 19 percent. Between Litecoin and Cardano lies only 10 percent. Stellar and Cardano are racing head-to-head and are only 6 percent apart. After all, IOTA and Tron are only 11 percent apart as they were last week.

NEO is not out of the race either: Only 11 percent lie between NEO and Tron.

So the “back places” are still highly contested, even if the gap is not as narrow as last week.

Winners and losers in the course crash
On average, all crypto currencies have dropped by ten percent. The majority of crypto currencies have thus performed about as well or as badly as Bitcoin. For the top 100, the Situatio