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

Political thought games of the crypto trader

It is not a question of assessing the current political situation or responsibility. Rather, the examples are intended to illustrate that crypto currencies, and thus Bitcoin first and foremost, can be used as a political negotiating tool. Although Bitcoin’s relevance on the global foreign exchange market may seem tiny, the decentralised and nationless form of money brings with it new scope for action.

In theory, Bitcoin can lead to a formal depoliticization of foreign exchange transactions, since institutions such as central banks or financial supervisory authorities cannot exert an institutionally regulated influence on Bitcoin. This does not mean that crypto bans or even attacks, such as a 51 percent attack, cannot influence the ecosystem and the corresponding crypto adaptation.

Music of the future crypto trader

So far, crypto trader, companies and governments have not made full use of this alternative. There is a lack of trading partners and an infrastructure, especially since the still high volatility would make trading transactions even more difficult. So if an oil company, whether state-owned or private, were to attempt to conduct its oil business in Bitcoin, it would fail miserably and bounce off too many technical and above all political hurdles and also crypto trader scam.

So far, Bitcoin is primarily a currency for private individuals and not for companies or public institutions. Over time, however, a rethink is to be expected, especially from politically excluded countries or countries struggling with inflation.

And it doesn’t even have to be the sanctioned countries that can benefit from Bitcoin payments. Even medium-sized companies that supply exports such as machines and cars all over the world could benefit from fast and unbureaucratic transactions. Instead of having to own several foreign currency accounts, a corporate bitcoin wallet could bring additional flexibility to the export and import business by, for example, shortening payment periods through faster international payments.

All Theory

These are, of course, all theoretical ideas that will not be put into practice in the short or medium term. But this is exactly what it is all about with a view to major technologies such as blockchain, artificial intelligence or the Internet of Things. Not only to have the next weeks or the next two years in sight, but also the next five years. Even if crypto currencies will not be used in the near future for large commercial transactions, especially by corporations or state-owned companies such as institutions, it is important to think through various scenarios.

To what extent can states influence the crypto-economy regionally? Will there be a need for separate agreements in future if conflicts of interest are no longer only to be dealt with on the Fiat currency exchanges, but also on the crypto exchanges? What could state Bitcoin sanctions look like? How can the decentralised logic of the crypto economy be brought together with the often central organisational logic of the regulatory authorities?

Many questions, few answers. This is precisely what makes the crypto-economy so exciting and should encourage anyone interested in cryptography to conduct thought experiments.

Clipboard Hijacker: Malware Empties Bitcoin Wallets

A rather new malware called Clipboard Hijacker is intended to manipulate the clipboard of Windows computers. As soon as the user stores a Bitcoin address known to the system in the clipboard, the address is automatically changed. The crypto currency then ends up in the wallet of the cybercriminals instead of on the desired account. This new variant is part of the recently released „All-Radio 4.27 Portable“ malware package. It automatically monitors around 2.3 million Bitcoin addresses.

The Bleeping Computer team has identified a particularly sophisticated malicious software for Windows computers

The Clipboard Hijacker contains 2.3 million Bitcoin addresses that are worth cash to cybercriminals. Many users of online trading places copy & paste the destination address of the wallet. However, as soon as one of the 2.3 million known addresses appears in the clipboard, the Trojan changes the clipboard. Instead of the desired wallet address, the cybercriminal’s address is automatically entered. The number of stored wallets is record-breaking. Previously known Clipboard Hijackers had only 400,000 to 600,000 addresses of different crypto currencies (mostly Bitcoin) in their portfolio.

The malware installs itself quickly, silently and easily. After downloading the file d3dx11_31.dll, the virus creates an executable file called „DirectX 11“, which is not noticed by outsiders due to its name. This file becomes active as soon as the user logs on to Windows. Later, two more files are stored on the target computer. Nothing happens afterwards. The malware should not interfere with normal operation and is not noticeable in any other way. The infected computer waits for the moment until you insert a wallet address into the clipboard. This will then be changed if necessary. The problem: If the user does not carefully check the wallet’s target address, he will not detect the fraud. When the coins are sent, they end up on the account of the cybercriminals and are therefore lost forever.

How can I protect myself from the Clipboard Hijacker?

If you want to protect yourself against manipulation of your Bitcoin transfers, you should update your anti-virus software. The antivirus software should then check the PC completely. In addition, it always makes sense to manually synchronize the target address with the original several times during transfers. Even with new types of malware, you can prevent money from being redirected to the accounts of third parties, even if your computer is infected. Clipboard hijackers were reported to have been infected more than ten years ago, when Mac OS X users were also affected. New is the change of the clipboard to redirect crypto currencies. The earlier malware was immediately noticeable because the clipboard was no longer usable. The new variant is particularly insidious because it only becomes noticeable when it is too late and at the same time has an extensive database of Bitcoin addresses.