Hey folks, back with the latest moves in crypto-markets, industry and local news.
Here's what's been going on in ...
Crypto Markets
Bitcoin finished the day slightly lower yesterday, but remains well supported above 2200. 2400 is initial resistance, with falling channel resistance above there at 2450. We need a close above the latter to open up the path higher:
Ether finished the day lower yesterday, giving back most of Tuesday's gains. Treating the down-move as consolidation, rather than a topping process and looking for a close above 230 to confirm bullish bias:
Steem finished the day lower, but continues to find bids and 40/35 support remains solid. Anticipating a move back towards 65 in the next week or so, but need to see a close above 55 first:
We are trading at $1.54 AUD this afternoon, up slightly from $1.51 yesterday. Down a little against US Dollar though: currently fetching $1.19, down from $1.26 yesterday and a 24 hour high of $1.40. Steem Dollars continue to trade at a slight discount, though traded as high as $1.05 yesterday, currently $0.96.
Crypto News
Over 150 000 Ether has been stolen from Parity wallets, valued at approximately $30 Million USD. Parity has said at least three accounts were affected and a separate source identified æternity, Edgeless Casino and Swarm City, all of whom have conducted recent ICOs. Swarm city have issued a statement confirming they had more than 44 000 coins stolen. I imagine this news contributed to Ether weakness overnight. Coindesk with that story.
In related news, Ether continues to trickle into the false address related to the CoinDash hack. Funds lost now total more than 10 Million dollars and, according to CoinDash's previous announcement, the investors who have sent this latest 3 Million dollars will not be getting compensated. Coindesk again with that one.
We're nearly out of the woods and well before August 1, with more than 80% of the mining network ready to activate Segwit2x. Bitmain/Antminer have come on board, but we are still waiting on F2Pool and Slushpool. Though 80% is the technical threshold, we really need more of the network on board, as there could be substantial variance in actual blocks found. The network will need to hold above 80% of blocks found for three days in order for Segwit2x to activate. Cryptocoinnews with that one.
Aussie News
In local news, a find in Kakadu National Park has pushed back the date for the first settlement of Australia by at least 15 000 years. What's so interesting about this particular site, is the evidence of continuous inhabitance; axe heads and sharpening stones have been found throughout the different layers, and there is modern artwork depicting first contact with Europeans.
In other news, the ACCC has issued a warning to Australia's biggest Telco's, saying they could find themselves in court by the end of the year. The ACCC are currently investigating whether or not Telstra, Optus and others have misled consumers when advertising 'speeds up to' figures. This sort of stuff is everywhere in the forex world - every broker has a 'minimum spread of 0 pips' - but when you look at the averages, only a few ever come close to that for more than a few seconds.
Researchers at the Australian National University, in partnership with a team of scientists in Germany, are working on nano technology for computer graphics processors that would give a massive performance boost over what's currently available. Currently technology is hampered by outdated copper wiring, this new technology would utilize fiber optic cabling, similar to the original plans for the NBN. They seem to have missed the point though ... I don't think gamers will make up the biggest market for this new tech!
ABC News with those stories.;
That's me for the day folks and rant-free at that ... back tomorrow with another wrap. Thanks for tuning in again and really appreciate all the positive comments and feedback XD
Team Aus footer by the amazing @bearone
This post received a 3.6% upvote from @randowhale thanks to @bulleth! For more information, click here!
Thanks for the updates very informative. keep it up :)
thanks for sharing
Thanks for reading
Brilliant as always 🙂
Thanks mate!
$30 million worth of Ether stolen?
News like this doesn't help the cause of cryptocurrency.
Tell me about it and Ethereum specifically just can't catch a break atm
ETH going right back up.
Yep XD
Hey man,
Can you go over why this fairly large 10c fluctuation occurs if it is in fact pegged?
What are the risks of the peg being removed and the arse falling out of it like we saw in EUR/CHF?
No worries, it was trading at $1.60 just a few weeks ago. I'm really not sure why it ever trades at discount, though I personally sold some at a small loss yesterday so I could load up on Ether longs and other people might do the same ie use it has a store of value when things are falling, get out quickly at a small loss when they want the funds back. Can't be the only reason though.
There's always people receiving SBD for posts and wanting Steem too so that puts near constant downward pressure on it.
I don't think there's any risk of the peg being removed, as it is an integral part of the Steem architecture.
Thank you!
no worries mate
With cryptocurrency becoming a bigger target to hackers, how secure is our Steem or SBD being held online? Is the safest place Steem Power, and could the power down routine be hacked and accelerated to clean it out quickly? Is there a hardware wallet out there that can be used to holding STEEM if someone wanted to?
Way beyond my pay grade sorry mate, but yeah every human construct is fallible!
Re: hardware wallets, I don't know much about them, but the Ledger nano supports "Bitcoin, Litecoin, Ethereum and Ethereum Classic companion apps, and other blockchain-based cryptocurrencies" so may well support Steem ...
https://www.ledgerwallet.com/products/ledger-nano-s
I'm honestly surprised that ether isn't down more after this hack seems like the greed has gotten to peoples heads
Coming off the back of the Mastercard news yesterday though and at the lower end of the technical range ... if we were at new highs yesterday would have tanked it probably
There was 377,000 Ethereum total stolen... $75 Million USD conversion.
Nope. 377 000 were rescued by white-hat hackers as the source states.
Was it indivuduals' that where ripped off? Or is was it an online casino? That is frightening!!
Sounds like it was accounts of firms that had recently done ICOs
Great news, very interested to see how the nbn case goes. Such a load of rubbish we are sold! Thanks mate
Upvoted
I'm keen to see what happens with Satellite plans in a few months ... NBN has announced they are halving the price of wholesale data ... but what level of savings the ISPs pass on is up to them. I'm going to record all their pricing /gb beforehand and compare it to new pricing to see who the rip off merchants are.
Very interesting to see the satellite plans reduce as I live near an area which would benifit from more data or cheaper plans. I actually switched to fibre to the node yesterday, it's not overly fast but it's very clean as I run Iptv at home
Oh sweet yeah we're about 8Ks from the exchange so no point here, Satellite is quite fast but horrible latency so online gaming isn't really doable (not FPS's anyway)
Good job @bulleth, although I miss the rantiness of yesterday.
Thanks Choo!
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Thanks for the update
no worries
Those who bought in on the weekend are loving it now. Missed out on the ETH dip yesterday. Was hoping it would go lower, but it bounced back like crazy!
@incomepal
Yep, I should have just bought Bitcoin ... ETH is lagging now
Will be interesting to see what happens this weekend
It's gaining power
BTCUSD?
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