Multimedia Project Raises 750 Bitcoins in Less than 48 hours in an ICO

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University of New Mexico student Clay Space raised 750 Bitcoins (over $1 Million at closing) in fewer than 48 hours in an ICO for Back to Earth, the new production company designed to fund a multi-platform storytelling project seeking to engage an audience through film, graphic novels, an alternate reality game, blog, mobile apps, and other media.

The project’s goal was to raise 750 BTC ($900,000+) with the sale of 4 million tokens. And, as happens in the lucrative ICO market, the project achieved its goals. “This makes the tokens, at the outset, worth somewhere in the neighborhood of 25 cents each,” states the project, whose coins are divisible like bitcoin. Mr. Space combined IndieGoGo style fund-raising campaign with an Initial Coin Offering.

“This could revolutionize the way that films pursue money in the future,” Kevin Schulmeister, co-founder of ShadMeister Productions, says. “A media project funded with cryptocurrency is still very unique, and I think we’ll begin to see a shift towards alternative forms of crowdfunding after this.”

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Mr. Space intends to create a project based on a form of interactive fiction also known as Transmedia Storytelling. The genre often employs ARGS, short stories, web series, mobile apps, feature films, graphic novels and other entertainment mediums. Other transmedia Projects include Why So Serious, Year Zero, and I Love Bees.

“The goal of Back to Earth is to entertain a wide audience and to introduce crypto to new people,” says Mr. Space. “We believe this project has a little something for everyone because you can enjoy a piece of it, like the web series or mobile game, or become fully engaged in the community on Telegram, in the ARG, and with the mobile app.”

A graphic novel is already slated for release in early May. The Back to Earth ‘Transmedia Project’ founded its own digital token, Starcredits (SRC), which uses the Ethereum blockchain to manage certification and verification steps.

SRC will be used in the ARG and mobile app and “allow the audience to influence the story”, though how so is not yet entirely clear.

Crowd-financiers received Starcredits for their donation. They also received “Golden Ticket” – also still a bit of a mystery.

Clay Space, who has acting and script writing credits, appeared on Breaking Bad spin-off Better Call Saul in its first season. Mr. Space, the founder and creative director of Back to Earth productions, partnered with  Shad Adair, another actor and producer. Mr. Adair has a history of investing in software companies. Award-winning photographer Josh Lane will be the firm’s lead cinematographer.

In its whitepaper, Back to Earth notes: “[Cryptocurrencies] are a secure way to give value to a digital asset that can be used to incentivize competition, discussion, and game play. […] Transferring value online can be easy, and Back to Earth is packaging the simplicity of blockchain technology with a mainstream vehicle for its success: entertainment.”

The company adds: “Underpinning the whole production will be an engaging mystery that can only be solved by interacting with our cryptographic token StarCredits.”

Total coin supply will be limited to 20 million SRC.

 

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Multimedia Project Raises 750 Bitcoins in Less than 48 hours in an ICO

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Milestones, $100 Mln Market Cap, Vision

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On April 28, Zcash celebrated its six-month anniversary with an official blog post from the Zerocoin Electric Coin Company CEO Zooko Wilcox entitled “Internet Money.”

In it, Wilcox outlined some of the most considerable and significant milestones Zcash have achieved over the past six months. Coincidentally, on the day of the release of the blog entry, Zcash surpassed $100 mln in market cap, establishing itself as one of the top cryptocurrencies in existence.

Active user base and clear set purpose should come first

There are many cryptocurrencies that have been overvalued due to the hype around alternative cryptocurrencies or altcoins. These cryptocurrencies have not demonstrated features, technologies and innovation that complement Bitcoin. Rather, most of the overvalued cryptocurrencies have taken advantage of the initial coin offering (ICO) and the hype around altcoin to sell tokens without an active user base and clear set purpose.

However, some cryptocurrencies or assets are valuable to the community and the development of the digital currency industry in general. Ethereum provides a flexible and functional development framework which Bitcoin does not. Monero and Zcash offer anonymity and financial privacy which at the current stage of development, Bitcoin fails to offer.

Simply put, there are several cryptocurrencies such as Ethereum, Monero and Zcash that are perceived, recognized and accepted as compliments to Bitcoin.

The most ambitious out there?

Zcash is arguably the most ambitious project out of all, due to its utilization and implementation of non-interactive zero-knowledge proofs or zk-SNARKs. Similar to how Monero utilizes the Ring CT technology to anonymize transactions, Zcash uses zkSNARKs to offer absolute financial privacy to users.

Prior to Zcash, zk-SNARKs have not been implemented to many cryptographic projects. Thus, Zcash’s ambitious experimentation of zk-SNARKs can be considered as one of the few cases of true innovation within the cryptocurrency industry.

“Zcash is the first widespread application of zk-SNARKs, a novel form of zero-knowledge cryptography. The strong privacy guarantee of Zcash is derived from the fact that shielded transactions in Zcash can be fully encrypted on the Blockchain, yet still be verified as valid under the network’s consensus rules by using zk-SNARK proofs,” Zcash team explained.

First phase of development – check

In the past six months, Wilcox explained that the Zcash development team focused on ensuring security and stability of the network. There were multiple instances of security and bug alerts in last few months but the development of Zcash successfully implemented fixes before any serious exploitations were made.

“During the first six months of Zcash, our development team has focused on ensuring the security and stability of the network, making improved stable releases of the software and supporting third-parties who are building products and services on top of Zcash, such as wallets and exchanges,” said Wilcox.

In the upcoming months, the Zcash team plans to carry out big projects with its partners and growing ecosystem.

On April 14, Cointelegraph reported that Apple accepted Zcash as a legitimate cryptocurrency and was made available to iOS users. Zcash aims to pursue these types projects to further strengthen the cryptocurrency’s growth.

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Bitpay Partners With Bitmain in a ‘Multi-Million Dollar Agreement’

Bitpay

On May 2 the blockchain service provider and bitcoin payment processor Bitpay announced a strategic partnership with the mining device manufacturer Bitmain.

Also read: Bitcoin Exchanges Multiply in Japan as Demand from Institutional Investors Rises

Bitpay Enters the Untapped Market of Mining Companies

Bitpay Partners With Bitmain in a 'Multi-Million Dollar Agreement'The Atlanta-based bitcoin company Bitpay has revealed it has entered a “multi-million dollar development agreement” with the China-based mining hardware firm Bitmain Technologies. Bitpay says the company has partnered with Bitmain for a multi-year plan to create advanced open source software for miners, mining pools, and full node operators.

Bitpay details the company will be utilizing its six years of experience building peer-to-peer payment technology. The firm says that it also has helped service “the most significant companies in blockchain mining hardware.”

Bitpay Partners With Bitmain in a 'Multi-Million Dollar Agreement'

“At BitPay, we recognize that there is an untapped market of mining companies that require more advanced platforms for their businesses than are available today,” said BitPay CEO Stephen Pair

We value having Bitmain as a customer, and we believe that miners and mining technology providers like Bitmain play a vital role in the security and ongoing success of the Bitcoin blockchain.

Bitmain Believes Bitpay is a Leader in Open Source Development

Bitpay Partners With Bitmain in a 'Multi-Million Dollar Agreement'Bitpay has recently been involved in helping the developers of Bcoin with ‘Extension Block’ testing alongside improving its feature service wallet this month. Alongside this, the startup has been developing its open source Bitcore software for over a year now.

The Beijing-based Bitmain says they recognize Bitpay’s leading role in the bitcoin industry and look forward to working with the startup. Bitmain Technologies founder and CEO Jihan Wu say he’s pleased with the partnership between the two bitcoin-focused companies.

“Bitpay has established itself as a leader in open source development for the Bitcoin blockchain,” said Bitmain CEO Jihan Wu. “We believe that together we can make real improvements in how we secure blockchain transactions and grow the impact of blockchain technology in digital payments.”

The Announcement Stirs Scaling Drama Once Again

Of course the recent partnership has caused many discussions among bitcoin proponents across forums as people have been recently debating the Asicboost and the Antbleed topics. Some believe the business move would be good for Bitmain to work on open sourcing their mining software and hardware with Bitpay. Others who’ve been completely disgruntled with the Chinese mining company said they weren’t a fan of the news at all.

What do you think about Bitpay and Bitmain partnering? Let us know in the comments below.


Images courtesy of Shutterstock, Bitmain, and Bitpay.


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DASH/USD and LTC/USD Technical Analysis May 03, 2017

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Hello and welcome to News BTC’s Market Outlook May 03.

DASH/USD

DASH/USD and LTC/USD Technical Analysis May 03, 2017

DASH fell a bit during the session on Tuesday, gapping lower. We reached all the way down to the $84 level and I think we may have a little bit farther to go. The $82 level and most certainly the $80 level will offer support in my estimation, so I’m looking for some type of supportive candle in that area to start buying again. I have no interest in shorting, that money has already been made.

LTC/USD

DASH/USD and LTC/USD Technical Analysis May 03, 2017

LiteCoin continues to bounce around just below the $17 level. Because of this, I am buying on short-term dips and looking to reach towards the $18 level, and then eventually the $20 level. I believe there is significant support down to at least the $15 level, as we consolidate after a sharp move higher. This is still a very bullish market, so therefore I believe that eventually the buyers will return.

Thanks for watching and see you again tomorrow.

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.


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ETH/USD and ETH/BTC Technical Analysis May 03, 2017

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Hello and welcome to News BTC’s Market Outlook May 03.

ETH/USD

ETH/USD and ETH/BTC Technical Analysis May 03, 2017

Ethereum continues to try to grind to the upside but quite frankly we are bit exhausted. Pullbacks should offer buying opportunities and at this point I suspect that it’s probably time for that to happen. The $68 level should be massively supportive, as well as the $72 level above there. I have no interest in shorting, this is a market that seems to be rather well supported, but currently it looks likely that the markets need to build up more momentum.

ETH/BTC

ETH/USD and ETH/BTC Technical Analysis May 03, 2017

Ethereum fell against Bitcoin during the session as well, testing the 0.05 level. There seems to be a significant amount of support down to the 0.04 handle, so I’m waiting to see a bounce to go long. I don’t have any interest in shorting, we are far too low to make any real money doing that. I believe longer-term we will rally, but Bitcoin itself seems to be rather strong.

Thanks for watching and see you again tomorrow.

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.


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BTC/USD and BTC/JPY Technical Analysis May 03, 2017

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Hello and welcome to News BTC’s Market Outlook May 03.

BTC/USD

BTC/USD and BTC/JPY Technical Analysis May 03, 2017

Bitcoin rally during the session on Tuesday, breaking above the $1400 level. We are now at all-time highs, and it appears that the market is still a “buy on the dips” type of proposition. However, keep in mind that the $1500 level will have a certain amount of psychological resistance built in. Because of this, waiting for short-term pullbacks will probably continue to be a good buying strategy in this market.

BTC/JPY

BTC/USD and BTC/JPY Technical Analysis May 03, 2017

Bitcoin of course rallied against the Japanese yen as well, touching the ¥168,000 level. Because of this, I believe that this market is going to continue to see bullish pressure and looking at short-term charts for pullbacks will continue to offer value. As Bitcoin rises against the Japanese yen, I believe that we will go looking for the ¥170,000 level next. Currently, I believe that the ¥160,000 level should be supportive.

Thanks for watching and see you again tomorrow.

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.


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New Jersey duo using the blockchain to reshape journalism » Brave New Coin

Like many Americans, Samit Singh and Dondrey Taylor, emerged from last year’s U.S. presidential election dismayed by the state of American mass media. Now, the New Jersey duo is doing something about it.

Called the Decentralized News Network, or DNN, their organization aims to produce news “by the people for the people” using monetary incentives made possible by the same technology that underlays digital currencies like Bitcoin, the blockchain. DNN combines citizen journalism with a system of fact-checking powered by circulating the platform’s own digital currency.

“DNN enables a form of incentivized collaboration that wouldn’t otherwise even be possible if we weren’t on the blockchain,” said Singh, 27, the company’s chief executive officer and a graduate of Penn State’s finance program. “The blockchain enables everyone involved to earn a piece of the pie, assuming they put forth their share of effort.”

In an era of alternative-facts, Singh and Taylor believe America is ripe for a decentralized  approach to news gathering, writing, editing and distribution that aims to counteract the insidiousness of fake news and over-the-top political commentary.

“We allow people to have a dialogue on factual articles,” said Taylor, 25, a graduate of the New Jersey Institute of Technology, who previously partnered with Singh to create Minichat, a global messaging application. “We can cover anything and we have a proper story review process.”

Here’s how the platform works. A writer pens a news story and submits it to DNN for accuracy and balance, which is then seen by a randomly selected, online panel of seven anonymous reviewers. They assess articles according to DNN’s editorial guidelines and suggest changes to the writer. If the article passes muster, the writer is rewarded with DNN tokens. So, too, are reviewers who approve a story with a majority of other reviewers.

“Anyone can be a writer, anyone can be a reviewer and anyone can be a reader,” said Singh, who reckons DNN will attract writers and reviewers who are passionate about providing readers with well-written, factual news. “Those roles can switch and the lines between those roles can blur.”

Whatever Singh and Taylor lack in journalistic experience they make up for in passion for unleashing the power of blockchain technology to produce a news platform that ordinary people can trust. They will initially focus on encouraging the DNN community to produce political stories.

As for previous blockchain experience, Singh and Taylor have been successfully mining Ethereum’s ether tokens for more than two years at a large-scale data center in North Carolina. Mining involves running software on a computer in order to solve mathematical algorithms to complete transactions on the Ethereum blockchain.

The DNN news platform will run on Ethereum, which is the world’s largest public blockchain after Bitcoin. The value of DNN’s tokens will be linked to the value of Ethereum’s ether. One ether is currently valued at approximately US$59.

Singh and Taylor were turned onto the concept of citizen journalism by what they perceived as a decline in the quality of American journalism during the presidential campaign. In fact, Americans’ trust and confidence in the mass media “to report the news fully, accurately and fairly” last year dropped to its lowest level in Gallup polling history.

Rather than selling advertising or soliciting donations to run the platform, DNN’s founders opted to fund the system by selling DNN tokens that will trade on digital token exchanges around the world.

Another strength of the DNN system is that it will be decentralized, not dominated by a corporate news provider with a political agenda. The power of the blockchain allows for a fully decentralized network that can never be hacked into, taken down or censored.

“There really is no big overseer in this whole process,” said Singh. “DNN is run from a grass-roots level.” A demonstration version of DNN’s news software will be ready for review in May.

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Ethereum Price Technical Analysis – ETH/USD About To Break?

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Key Highlights

  • There is a declining resistance formed in ETH price against the US Dollar, which is currently at $83.30.
  • A contracting triangle pattern with support at $80.80 formed on the hourly chart (ETH/USD, data feed via SimpleFX).
  • The price may soon either move above $83.30 or break $80.80 for more losses in the near term.

Ethereum price is slightly under pressure against the US Dollar and Bitcoin, and it looks like the ETH/USD pair is about to break a pattern for the next move.

Ethereum Price Resistance

In yesterday’s analysis, we saw how the $77 support prevented more declines in ETH price against the US Dollar. Later, the price recovered and was seen trading above the $80 handle. It also moved above the 50% Fib retracement level of the last decline from the $87.30 high to $76.93 low. It was a positive sign, but for some reason, the price was not above to move past $85, and now back lower.

The ETH/USD pair is currently trading inside a contracting triangle pattern with support at $80.80 formed on the hourly chart. On the upside, the triangle resistance is at $83.30. It also coincides with the 61.8% Fib retracement level of the last decline from the $87.30 high to $76.93 low. On the downside, the triangle support is just above $80.

Ethereum Price Technical Analysis ETH USD

The best part is the fact that the 100 hourly simple moving average is at $79.30, waiting to provide support. So, if the price moves down, there are many supports around $80. On the upside, a break above $83.30 might call for a move towards the 76.4% Fib retracement level of the last decline from the $87.30 high to $76.93 low at $84.86. The most important resistance is the last swing high at $87.30.

Hourly MACD – The MACD is almost flat with no sign of a major move.

Hourly RSI – The RSI is currently just below the 50 level.

Major Support Level – $80.80

Major Resistance Level – $83.30

 

Charts courtesy – SimpleFX

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.


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Bitcoin Price Technical Analysis for 05/03/2017 – Expect Volatility to Pick Up

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Bitcoin Price Key Highlights

  • Bitcoin price barely looked back from its climb as it found support at the 38.2% Fibonacci retracement level and bounced.
  • Price has yet to make a new swing high so the Fibs are still valid and a larger pullback is still a possibility.
  • The upcoming top-tier events in the US could lead to additional volatility for the dollar.

Bitcoin price might see a pickup in volatility with top-tier happenings in the US, possibly leading to a larger correction or another break higher.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA on this chart so the path of least resistance is to the upside. The gap has been pretty constant, reflecting continued presence of bearish pressure. Also, the 100 SMA is nearing the 61.8% Fib, adding to its strength as a floor in the event of a quick pullback to $1375.

The 200 SMA is closer to the rising trend line connecting the recent lows on the 1-hour time frame. This could be the line in the sand in this uptrend pullback as a break below the $1300 area could mark the start of a longer-term drop.

Stochastic is already in overbought territory, signaling that profit-taking could happen soon as bullish momentum slows. RSI is also on the move down, indicating that bears are regaining control of bitcoin price action. Still, a large selloff in the dollar could lead to a break past the swing high and onto a test of the $1500 major psychological level depending on today’s market events.

Bitcoin Price Technical Analysis for 05/03/2017 – Expect Volatility to Pick Up

Market Events

In particular, the FOMC statement is seen to be a huge catalyst for dollar moves this week as traders are eager to find out if the US central bank is shifting its monetary policy bias. Earlier on, policymakers have been confident that they can hike interest rates three times this year but recent data and the slow pace of government reforms could dampen tightening expectations.

Apart from that, the ADP non-farm employment change report and the ISM non-manufacturing PMI could provide some clues on how the NFP release might turn out. Recall that the jobs report printed a weak 98K increase last time and another disappointment could lead to dollar weakness, allowing bitcoin price to advance further.

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.


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Creditbit Price Technical Analysis – CRBIT/BTC Under Resistance

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Key Highlights

  • Creditbit price moved down a few points and traded close to the 0.00060BTC level against the Bitcoin.
  • There was a recovery, but a major horizontal resistance at 0.000705BTC formed on the 1-day chart of CRBIT/BTC (data feed from Coinmarketcap) is acting as a hurdle.
  • On the downside, a major support is formed above 0.00060BTC, which holds the key in the near term.

Creditbit price was seen struggling a bit against the US Dollar and Bitcoin, and now CRBIT/BTC is trading below a major resistance at 0.000705BTC.

Creditbit Price Resistance

In the last analysis, we saw how Creditbit price was under a minor bearish pressure around 0.00080BTC against the Bitcoin. The mentioned 0.00080BTC support was very important, and it looks like the price failed to hold it. There was a decline below 0.00080BTC. Later, the price even broke the 0.00070BTC support area to ignite more losses in the near term. Similarly, Creditbit price failed to hold the $1.10 support against the US Dollar and moved down.

It traded below $0.90 once and attempted a test of the $0.80 level. Later, the price found support against both the US Dollar and Bitcoin, and recovered. However, there is a major horizontal resistance at 0.000705BTC formed on the 1-day chart of CRBIT/BTC (data feed from Coinmarketcap). It is acting as a hurdle and preventing gains in the near term above 0.00080BTC. Also, the 61.8% Fib retracement level of the last decline from the 0.00093BTC high to 0.000585BTC low is acting as a resistance.

Creditbit Price Technical Analysis

So, we can say that the price is facing a major resistance around 0.00071BTC. A break above it could take it towards 0.00080BTC. On the downside, the most important support is at 0.00060BTC.

Looking at the indicators:

Hourly MACD – The MACD for the CRBIT/BTC pair is just recovering.

Hourly RSI – The RSI for the CRBIT/BTC pair has managed to move back above the 50 level.

Intraday Support Level – 0.00060BTC

Intraday Resistance Level – 0.00071BTC

 

Charts from Coinmarketcap

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.


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