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Bitpay Adds Bitcoin Cash Support to Copay Wallet and Insight Block Explorer

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Bitpay Adds Bitcoin Cash Support to Copay Wallet and Insight Block Explorer 1068x1068 Bitpay Adds Bitcoin Cash Support to Copay Wallet and Insight Block Explorer



Technology

Over the past few days, the Bitcoin payment processing firm Bitpay announced two types of infrastructure support features for the cryptocurrency bitcoin cash (BCH). Bitpay has launched a BCH beta version of its Copay wallet and added the BCH chain to its Insight block explorer.

Also read: Jamie Dimon’s Bitcoin Statements Reported as Market Abuse in Sweden

Bitpay Adds Bitcoin Cash Support to its Open Source Copay Wallet

Bitcoin cash supporters can now manage their BCH with the new beta release of the open source Copay wallet created by Bitpay. The payment processing firm said that the company had received a lot of requests for BCH support. The beta Copay wallet enables users to choose between BTC and BCH within the interface.

“Since the creation of bitcoin cash (BCH) in August, we’ve received consistent feedback from our users asking us to support it,” explained the Atlanta-based company. “Bitcoin Cash is a fork of the Bitcoin blockchain which accepts much larger blocks of transactions, intended to provide the Bitcoin network with higher transaction capacity.”

wallet bch balance duplicate Bitpay Adds Bitcoin Cash Support to Copay Wallet and Insight Block Explorer

Bitpay is Creating New Conventions With Other Wallet Providers to Help Mitigate Transaction Errors Between Both Networks

Bitpay says the new wallet will operate just like the original Copay client but on the BCH network. Currently, the firm is in the process of creating safeguards and has created new conventions to “ensure users don’t accidentally send BTC to a BCH wallet or vice versa.” Furthermore, the company says that it has been working with other wallet providers and exchanges to help promote these new conventions. Bitpay emphasizes that the latest Copay wallet is still in its early stages and users should be cautious with their digital assets stating:     

Remember that bitcoin cash wallet support is still in beta, so take care with your BCH funds — Our wallet team is standing by to respond to feedback and bugs.

Bitcoin Cash Implemented Into Insight Block Explorer

In addition, the company has integrated the BCH network into its Insight block explorer. After releasing the BCH supported beta wallet, Bitpay said, “naturally, our next step is to make those transactions easily searchable.”

Screen Shot 2017 09 21 at 4.34.38 PM Bitpay Adds Bitcoin Cash Support to Copay Wallet and Insight Block Explorer

The new Insight block explorer is basically the same as the BTC version, but modified for the BCH blockchain. Now anyone using the BCH network can check transaction confirmation status, block height, transaction miner fees, transaction inputs, block statistics and more.

The latest BCH support from Bitpay is just one of many infrastructure developments added to the nascent Bitcoin Cash ecosystem over the past few weeks.    

What do you think about Bitpay adding bitcoin cash support to its wallet and block explorer? Let us know in the comments section below.


Images via Shutterstock and Bitpay.


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Younger Americans See Bitcoin As Investment Opportunity, Survey Says

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Younger Americans See Bitcoin As Investment Opportunity Survey Says 1 1068x1068 Younger Americans See Bitcoin As Investment Opportunity, Survey Says



Featured

A new survey recently conducted by Lend Edu polled Americans about their interest in bitcoin. The survey asked basic questions about whether people have heard about bitcoin, whether it was legal, and if they would use it or invest in it. By and large, younger generations have increasingly heard of bitcoin, and they see it as an investment opportunity.

Also read: South Africa’s Second Largest Supermarket Chain Pick n Pay Trials Bitcoin Payments

General Bitcoin Trends

bitcoinorg 150x150 Younger Americans See Bitcoin As Investment Opportunity, Survey Says

Lend Edu commented on some of their findings: “not surprisingly, younger Americans were more likely to have heard of bitcoin as compared to their older counterparts. 86.67 percent of respondents between the ages of 18 and 24 have heard of bitcoin, while only 75.93 percent of respondents ages 55 and older have heard of bitcoin. It was a consistent trend that as respondents got older, their likelihood of hearing about bitcoin went down.”

The survey suggested bitcoin’s popularity is growing especially with millennials. This growth could be occurring as a result of younger crowds being more technologically savvy. Needless to say, room for bitcoin adoption is being “carved out” in the United States. According to the study, there is certainly a large place for bitcoin adoption in the future.

lend edu Younger Americans See Bitcoin As Investment Opportunity, Survey Says

Is Bitcoin Illegal?

The study also asked respondents if they believed bitcoin was illegal. 10.69 percent of people asked believed it was not legal to possess. 41.16 percent said that bitcoin is legal, and 47.71 percent said they did not know. The article suggested these answers resulted in the stigma that surrounds bitcoin. Many people still believe it is primarily used by drug lords and other criminal factions. The article continued:

It appears that there is a “dark-web” stigma attached to bitcoin. Most people know what bitcoin is, but they also associate bitcoin as a mechanism for conducting suspicious behavior on the web. Of course, the name “cryptocurrency” certainly does not help bitcoin’s image, as that description makes it sound like you are evading the government.

Other Findings: Younger Americans Adore Bitcoin

The survey also found some other interesting facts. The younger the person was, the moreshutterstock 696521227 150x150 Younger Americans See Bitcoin As Investment Opportunity, Survey Says likely they would invest in bitcoin. The survey revealed, “those between the ages of 25 and 34 were the most likely to invest in bitcoin as an asset for the future, or to be open to using bitcoin for purchases.” Every older generation following the millennials had a decreased interest in investing in bitcoin.

The study also found that more men than women were interested in getting involved with bitcoin. However, the article cautioned against data concerning gender, because it is “more difficult to put a finger on.”

What do you think about these surveys? Is the future for bitcoin bright? Let us know in the comments section below.


Images courtesy of Shutterstock, Lend Edu, and Bitcoin.org


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Gravity’s Pull? Litecoin Is Down 50% from All-Time Highs and Looking Lower

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The litecoin-U.S. dollar (LTC/USD) exchange rate is again trading below $50, just three weeks after setting a new all-time high just below $100.

While the sell-off is in line with the broader market weakness, it may be alarming given the recent losses and the lack of signals for a bullish reversal. As of writing, the cryptocurrency (known as “silver to bitcoin’s gold”) was trading at around $45.

According to data from CoinMarketCap, litecoin has shed 11 percent in the last 24 hours. On a weekly basis, litecoin’s price is down 14 percent, and, for the month, it’s down 1 percent.

Perhaps most notable, however, is that the cryptocurrency has lost more than 50 percent of the gains its achieved during its tech-influenced revival earlier this year, during which it climbed from $3.27 (September 2016 low) to $100 (September 2017 high).

Adding uncertainty is that litecoin-specific news has been upbeat.

Earlier this week, Coinbase has announced the inclusion of litecoin, as well as ether, in its “vault” service – adding an extra layer of security over the standard Coinbase wallet. The development, however, seems to have received little attention, as evident from the 11 percent drop in litecoin prices yesterday.

Price action analysis suggests the pain period is not over yet, and the gravity pull could gather speed over the weekend.

200 SMA could be put to the test

Daily chart

Litecoin daily Gravitys Pull? Litecoin Is Down 50% from All Time Highs and Looking Lower

Litecoin’s 200 simple moving average (SMA) is located at $33.52 – interestingly, almost coinciding with last Friday’s low of $33.56

If the price keeps dropping, the 61.8 percent Fibonacci retracement level of $40.01 could offer support.

4-hour chart

Litecoin 4hour Gravitys Pull? Litecoin Is Down 50% from All Time Highs and Looking Lower

It’s worth noting that the sharp recovery from last Friday’s low of $33.56 ran out of steam around the downward sloping 50-SMA, where prices have now formed a lower high.

The relative strength index (RSI) remains bearish. The rally from $33.56 lacked substance/buying pressure, as suggested by the decline in the average true range (ATR) – a volatility indicator that reveals the degree of interest or disinterest in a move.

A bearish reversal with an increase in ATR shows strong selling pressure. The ATR is showing signs of life, which means the sell-off in litecoin could gather pace.

The price chart also shows a bearish crossover (short-term moving average cuts long-term moving average from above) between 50-SMA and 200-SMA.

View

  • Litecoin is likely to test 200-SMA support of $33.52 in the short-run.
  • Upside is likely to be capped around the downward sloping four-hour 50-SMA.
  • Only a break above the trend line sloping downwards from the record high and September 8 high would signal bearish-to-bullish trend change.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has ownership stake in Coinbase. 

Dripping faucet image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Interested in offering your expertise or insights to our reporting? Contact us at [email protected].

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.



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Venezuelans Turn to Selling In-Game Gold for Bitcoin

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Venezuelan ‘Gold Farmers’ Are Selling Runescape Items for Bitcoin 1 1068x1068 Venezuelans Turn to Selling In Game Gold for Bitcoin



Economics

According to multiple reports, Venezuelan citizens suffering from the country’s horrible economy are now playing massive multiplayer online role-playing games (MMORPGs) to collect in-game items and sell them for bitcoin.

Also read: Jamie Dimon’s Bitcoin Statements Reported as Market Abuse in Sweden

Venezuelan ‘Gold Farmers’ Are Selling Runescape Items for Bitcoin

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Runescape in-game gold is being sold for bitcoin in Venezuela.

Recently there have been many reports of Venezuelans “Gold Farming” on a MMORPG called Runescape. Recent headlines explain that in-game farmers are selling treasures for bitcoin to make a living. Gold Farming has always been considered a controversial and profitable operation since online gaming became extremely popular. The business model started trending in China where players acquire in-game currencies or items and later sell them for “real money”. In 2009 it was estimated that over 1 million gold farmers were based out of China, but in-game gold farming also happens all around the world. Because of the secrecy, it is hard to get an accurate figure on how much revenue gold farming brings in, but it was estimated to be about USD $300 million in 2008.     

Runescape Gold Farmers Make More Money Than Venezuelan Professionals With Degrees

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Runescape dragons give players 500,000 in-game gold which amounts to $0.50 in real money for Venezuelans.

Venezuelans playing the game Runescape are aiming to kill as many green dragons as they can in order to collect 500,000 in-game gold which amounts to $0.50 worth of real money when sold. Most of the farming players are making roughly $0.50 per hour on Runescape which is allegedly a better wage than most in the country. Some Venezuelans can make up to $2-3 per hour if they have extremely good in-game skill sets and don’t get banned by the moderators. These productive players can kill the boss Zulrah repeatedly and make roughly 3M Runescape gold per hour. Venezuelans with this amount of in-game skill sets are making more money than most professionals in the country with college degrees.   

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Some Venezuelans can make up to $2-3 per hour if they can kill the boss Zulrah repeatedly which is a better wage than most college graduates in the country.

A Guide to Getting Rid of Venezuelan Gold Farmers, While Papusgold Offers Netflix Credits and Bitcoin for Runescape Gold

Gold Farming on a MMORPG is against the rules in Runescape and many other online role-playing games. Furthermore, just recently someone posted a guide on Reddit detailing how to get rid of the Venezuelan gold farmers. Runescape gold and other MMORPG online items are sold on the black market in the country, and there are also online websites that purchase the in-game gold for bitcoin. A website called Papusgold.com is just one particular business who buys Runescape gold for BTC and Netflix credits.

Papusgold’s operators seem to want to stay anonymous as the website’s “about us” section is not very informative. The company appears to be based out of Caracas and has a Facebook page with close to 4,000 followers. One Facebook post describes a “scammer” trying to sell the business phony Runescape gold, and the company warns its clients to “be careful.” The company says it has been in the Runescape gold market for two years now and aims to “innovate the Venezuelan market by offering better prices to vendors.” According to one report, the gaming company Jagex which produces Runescape has been contacted about the influx of Venezuelan gold farmers but has yet to comment on the issue.   

What do you think about Venezuelans playing the game Runescape to sell in-game gold for bitcoin? Let us know what you think in the comments below.


Images via Shutterstock, and Runescape 2007. 


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Major Japanese Travel Agency Accepts Bitcoin and Offers Bitcoin-Exclusive Deals

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Major Japanese Travel Agency Accepts Bitcoin and Offers Bitcoin Exclusive Deals 1068x1068 Major Japanese Travel Agency Accepts Bitcoin and Offers Bitcoin Exclusive Deals



News

One of Japan’s largest travel agencies, H.I.S., will start accepting bitcoin payments at some of its stores via Japan’s largest bitcoin exchange, Bitflyer. The company will also offer some bitcoin-exclusive tour packages to commemorate the event.

Also read: Japan’s Largest Rewards Site Operator With 5 Million Users Launching Bitcoin Exchange

H.I.S. & Bitflyer

HIs logo 300x173 Major Japanese Travel Agency Accepts Bitcoin and Offers Bitcoin Exclusive DealsH.I.S. Co. Ltd will start accepting bitcoin payments on September 23 through Bitflyer, as announced by both companies on Tuesday. The transaction amount for purchases will be limited to the equivalent of 2 million yen. The companies claim that H.I.S. is the first major company in the Japanese travel industry to accept the digital currency.

Founded in December 1980, H.I.S. is a Tokyo-based travel agency specializing in low-cost package tours. Among the group’s many businesses are two theme parks, Huis Ten Bosch and Laguna Ten Bosch. In June this year, Japan Tourism Agency (JTA) provided an analysis of 49 major Japanese travel agents. It showed that H.I.S. ranks second for outbound travel for the year ending February 2017, behind only the industry leader JTB.

According to H.I.S.:

The number of H.I.S. Group’s business offices has expanded to 295 in Japan and 230 overseas in 66 countries. The number of countries where offices are held is the largest in the world as a travel agency.

his network Major Japanese Travel Agency Accepts Bitcoin and Offers Bitcoin Exclusive Deals

Bitflyer is the largest Japanese bitcoin exchange by volume, according to Coinhills. The bitflyer 300x84 Major Japanese Travel Agency Accepts Bitcoin and Offers Bitcoin Exclusive Dealsbusiness also offers bitcoin merchant processing services. Bitflyer recently helped one of Japan’s largest department stores, Marui, accept bitcoin on a trial basis, in addition to helping the country’s electronics giant, Bic Camera, accept bitcoin nationwide since July.

Stores to Accept Bitcoin & Bitcoin Specials

shutterstock 624002249 1 300x200 Major Japanese Travel Agency Accepts Bitcoin and Offers Bitcoin Exclusive DealsH.I.S. decided to introduce bitcoin payments to add convenience for domestic customers as well as attract new markets. Initially, 38 H.I.S. stores in the Tokyo metropolitan area will accept bitcoin. However, the company plans to add more stores in the future.

The 38 stores are: Shinjuku – 15 stores, Shibuya – 3 stores, Ginza – 6 stores, Marunouchi – 3 stores, Ikebukuro – 2 stores, Hawaii Shinjuku 3-Chome – 2 stores, Ginza Core Sales office, Roppongi Sales office, and H.I.S. Travel, books, coffee, and Omotesando office – 5 stores.

shutterstock 280837100 300x200 Major Japanese Travel Agency Accepts Bitcoin and Offers Bitcoin Exclusive DealsThe company’s Shinjuku Head Office will introduce the payment system on September 21. A launch event will be held between 9:30 and 10:00 a.m. on that day. The company will give 5,000 yen worth of bitcoin to the first 10 buyers of bitcoin promotional packages at the head office.

On September 23, the group will also offer some special bitcoin tour packages. For example, the “Seoul 3 days” package will cost 16,800 yen, while the “Hawaii 5 days” package will go for 69,800 yen during the promotion.

What do you think of H.I.S. accepting bitcoin and offering bitcoin promotional tour packages? Let us know in the comments section below.


Images courtesy of Shutterstock, H.I.S., Bitflyer


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