SafeShare – Secure Sharing Economy on the Blockchain

The insurance company SafeShare has launched an insurance service based on the Blockchain.

This service focuses on the Bitcoin secret

The blockchain is ultimately a secure data storage system with a good review in terms of design, which is why it is also used for crypto currencies. The stored Bitcoin secret is responsible for concluding transactions and prevents money from being spent more than once. The Bitcoin blockchain encrypts the data using the SHA-256 mechanism and thus secures all data.

Thanks to Bitcoin’s open-source approach, the technology could be implemented and applied beyond crypto currencies, and other information can be stored in addition to financial transactions. The blockchain can thus be used to create irreversible data records whose creation date can be verified by time stamps. These two characteristics are important for industries and sectors that are directly or indirectly related to finance. The insurance business is one of these industries.

Insurance services have not changed much in a long time, but with the increasing use of various technologies, the need for adapted insurance for the end consumer is increasing. Ten or twenty years ago, we heard nothing at all about many of today’s business ideas.

These new ideas are often denied insurance because the products and services do not fit into the old experimental models. The time is ripe for insurance companies to adapt to today’s market and offer theft benefits that fit today’s challenges.

In an effort to adapt to these new challenges, there has also been a look at blockchain technology: A few days ago, for example, the insurance company SafeShare announced that it was offering an insurance solution for the sharing economy based on the blockchain.

Cryptosoft – for a secure sharing economy

SafeShare is a new type of cryptosoft insurance service provider based in London and part of Cornerstone Insurance Brokers Ltd. SafeShare focuses on startups offering solutions for the sharing economy such as Airbnb or Uber.

The service providers that use Airbnb or Uber, for example, need real-time insurance offers that become valid when a new customer wants to use the services. This is exactly what SafeShare’s blockchain-based solution achieves.

The blockchain technology used by SafeShare was implemented by the Z/Yen Group. This company used MetroGnomo, an open source framework, to create and save time stamps. Using this blockchain application, SafeShare can offer its services in real time and simultaneously archive a history of already insured transactions.

The insurance service offered by SafeShare via the blockchain is guaranteed by Lloyds through a 24h hotline. In addition to being able to offer suitable insurance models in real time, Bitcoin’s technology keeps the cost of services under control.

The startup Vrumi, a kind of Airbnb for offices in London where users can offer free living space as coworking space, is currently working with SafeSahre Insurance to offer Vrumi customers a suitable blockchain based insurance solution.

The Blockchain technology will help companies evolve at the pace of modern technology and take advantage of markets that are far removed from their own industry.

Bitcoin (BTC) – price analysis – showdown in two triangle patterns

The 6,000 Euro at the beginning of last week could not be held, so that the price fell back to about 5,400 Euro. After a short rise to EUR 5,800, the share price fell back to its low for the week. Overall, the Bitcoin price continues to move in the triangle pattern that has been pursued since the end of December.

The cryptosoft price fell this week

Since the beginning of April, the cryptosoft price has been moving in a downward triangle pattern, the end of which coincides with a triangle pattern hat has determined cryptosoft developmentst since the end of last year.

Overall, the share price is bearish. Currently the price is fighting against the support described by the Triangle Pattern, another important support and re-entry level is 5,336.00 Euro, first interesting resistance and first target 5,698.57 Euro.

As already indicated yesterday, last week was marked by a slight price increase for Bitcoin and other crypto currencies, but neither momentum nor volume was strong enough to end the current bear market. The Bitcoin price is currently moving synchronously in two more or less superimposed triangle patterns: Since the beginning of April one is being tracked whose peak is almost congruent with one tracked since the end of December 2017:

Entry Points, Stop Losses and Targets of the crypto trader

Currently, Bitcoin can hold its ground above the downward trend it has been following since the beginning of March, but is testing its support shortly before the end of the triangle pattern, which gives cause for concern to the crypto trader. The MACD (second panel from above) is negative and falling. The MACD line (blue) is below the crypto trader signal (orange).

The RSI is at 42 and therefore bearish.

Overall, the impression is bearish. Looking further ahead, as the 1D chart shows, the market still remains a bear market. Although the MACD line is slightly above the signal, this difference is still too narrow to hope for a positive breakout.

Support and Resistance
The first support is 5.336 Euro and is described by the support of the Triangle pattern. Another important support level can be defined by the former downward trend at 4,970.53 Euro.

The first resistance is defined by the exponential moving average EMA50. With 5.698,57 Euro this is approximately at the level of the resistance of the Triangle Pattern. Should the price overcome this level, another resistance would be described by the EMA100 at 5,959.57 Euro.

Since the market situation is bearish at the moment, one can rather advise against a long position at the moment. Sure, you could use the support at 5.336,00 Euro as stop loss and hope for a test of the resistance of the triangle pattern with a target at 5.698,57 Euro. It would be safer to hope for a bounce at one of the mentioned support levels. These are reasonable entry levels and stop losses.

If the market should change before a test of the supports, an entry point would be given by the first Resistance mentioned above. A very optimistic target is the second resistance described by the EMA100.

Shoes off, popcorn out: Vitalik Buterin vs. Changpeng Zhao vs. Justin Sun

Vitalik Buterin has experienced a strong headwind from the crypto community for his supposedly pessimistic outlook for the growth figures of the crypto market. At the forefront: Binance CEO Changpeng Zhao and Tron founder Justin Sun. Even Buterin’s clarification did not stop the two cops from lowering their horns.

Ethereum inventor Vitalik Buterin no longer understands the Bitcoin loophole review

He gives a renowned business paper an honest assessment of the future of the Bitcoin loophole review scam at the crypto market, only to be taken to the horns by a few prominent crypto bulls a short time later. For them, Buterin’s supposedly bearish outlook for the growth figures of Bitcoin & Co. was apparently a red rag. In particular, Binance boss Changpeng Zhao and Tron mastermind Justin Sun made their dissent clear. The whole thing – Bitcoin loophole review – took place on Twitter.

Contradiction from within the news spy scam

On September 8th Ethereum founder Buterin gave an interview to the US news platform Bloomberg seen here https://www.forexaktuell.com/en/the-news-spy-scam/. In this interview he gave his best assessment that “for nothing in this [crypto] space there is the possibility of a 1000-fold growth”. Opposition initially came from an unfamiliar side: on 11 September Ethereum co-founder Joseph Lubin admitted to CNN that the news spy scam did not share Buterin’s assessment. Although Buterin is a brilliant mind, he apparently underestimates the (r)evolutionary potential of the technology:

“Vitalik is brilliant, but I have to contradict him on that point. This is a technology that will influence the development of economic, social and political systems in the coming decades. So we are only at the beginning. There will be so much development. The technology is still quite immature. But there will be so much development in this space and everything that is an asset at the moment is likely to have a crypto-asset representation sometime in the future. So there is so much growth ahead of us”,

Buterin, who is not exactly known as a pessimist of progress, did not want to let that happen. He therefore tried to clarify the situation on 12 September:

“To be clear, I have never said that there is ‘no room for growth’ in the crypto ecosystem. I said there is no room for *1000-fold price increases*. A 1000-fold price increase today would mean that […] about 70 percent of the world’s wealth would be in the crypto market.”

To be clear, I never said that there is “no room for growth” in the crypto ecosystem. I said there is no room for *1000x price increases*. A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today’s global wealth being in crypto.

“What I have actually said is that due to the fact that large parts of the population have already heard of crypto, future growth in crypto must feed from depth (i.e. actual application [of technology]), not from growing awareness.

To be clear, I never said that there is “no room for growth” in the crypto ecosystem. I said there is no room for *1000x price increases*. A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today’s global wealth being in crypto.

What I *actually* said is that, because large portions of the population have already heard of crypto, further growth of crypto in any sense must come from *depth* (ie. actual usage), and not bringing in more attention

Changpeng Zhao: Still not convinced
Binance boss Changpeng Zhao is not convinced by this argument. He was mischievous in announcing his objections on Twitter:

“I always remember Cunningham’s law before I do something like this, but this time I can’t resist, lol. The following tweets are for discussion and entertainment purposes only. They have no influence on my friendship to those involved, I hope at least.”

Zhao’s followers then rubbed their voyeuristic hands and expressed their anticipation with obligatory popcorn gifs:

I remind myself of Cunningham’s Law every time before I do something like this, but still can’t resist this time, lol. The next few tweets

Chronobank – A crypto currency wants to revolutionize the previous recruitment

Chronobank, a time based crypto currency wants to be a platform for recruitment. A new website is planned to point out the upcoming ICO.

A startup from Australia plans to develop a blockchain-based solution for recruiting. The distributed ledger platform Chronobank is based on a time-based crypto currency. With this crypto currency the startup wants to revolutionize human resources, recruiting and the financial sector. They want to be what Recruiting is for Transport and Upwork is for Freelancing.

Ultimately, Chronobank uses the news spy review

Time-based currencies are a value equivalent for work – in other words, you pay less concrete values in the news spy review a regular currency, but rather calculate the working hours or personnel months. These are then used as exchange values like this https://www.geldplus.net/en/the-news-spy-review/. Similar concepts are used on freelancing networks where working hours are exchanged for working hours.

The crypto currency behind ChronoBank wants to use this concept to be able to offer a tailor-made solution for recruiting for short-time work scenarios for both freelancers and companies looking for employees. The main objective behind ChronoBank is to create a guarantee of fair pay. The economy behind this project is represented by crypto tokens called “Labor Hour” or short LH tokens. The value of these tokens is secured by the labour of the companies, which is why Chronobank believe that these tokens would be secured against inflation and would not show any volatility.

Chronobank’s first goal: Bitcoin secret scam

Chronobank has currently invested a lot of money in advertising campaigns with the aim of bringing blockchain-based recruitment solutions into the Bitcoin secret scam review. With the help of these campaigns, the company wants to educate about the meaning of time-based crypto currencies, present their advantages over traditional working time accounts and show how this solution makes sense for both employees and employers in the context of Bitcoin secret scam short-term contracts and freelancing.

“Next month we will be investing primarily in Awareness. We don’t just want to draw attention to Chronobank and a planned crowdfunding, we want to educate about time-based currencies in general,” says CEO Alexander Rugaev.

Chronobank is supported by various experts and developers from the crypto scene, including Bitpanda, Waves, Emercoin and NEM. With the Edway Group as one of the founders, ChronoBank benefits from the expertise the Edway Group has built up over the years in recruiting.

After the current campaign, a crowdfunding ICO is to be launched. An ICO will be announced sometime in December 2016. In preparation for this ICO, ChronoBank has already redesigned the website so that potential investors can sign up for the crowdfunding campaign. Investors will be able to participate in the ICO not only through Bitcoin, but also through various other blockchain platforms such as Ethereum, Ethereum Classic, Waves or Lisk.

Once again one notices that there is little in terms of administration and transaction where the blockchain could not be useful. Apparently, the goal of ChronoBank is not simply to recruit, but to bring the “salary” on a common denominator, so that one compensates different salary expectations of freelancers in Munich and in Hoyerswerda (to give examples from Germany) something with it. Of course, LH tokens can be used within the company or by freelancers as a kind of substitute currency for services – Donald Reinertsen suggests something similar with beer coasters oä in the grandiose book The Principles of Product Development Flow – Use of a blockchain could globalize a corresponding solution. But what is not yet clear to me is: How does the cash out come about?

Death Cross: Sale signal, Bear Trap or wind breeze?

Recently, many Bitcoin investors have been following with concern the development of a particular chart pattern. A death cross is supposed to predict an upcoming dramatic fall in prices, while others see a bear trap behind it. What do we do with this formation?

Bitcoin remembered the messages of the Eligius Mining Pool on Maundy Thursday and thought, “Let’s form a death cross for once! And so the daily chart of the SMA50 threatens to fall under the SMA100. In concrete terms this means the following: The moving average value of the last 50 days falls below that of the last 200 days. So Bitcoin is now long enough below the mean that the faster one crosses the slower one.

What is a Death Cross?

Let’s say it very soberingly: It is first and foremost a representation of the current situation. For some time now, the share price has developed so badly that it is lower than the moving average of the last 50 or 200 days. He therefore performed worse than the average value of the last seven weeks or the last half year. And it has done so for so long that the average of the last seven weeks has now fallen below that of the last half year.

That is first of all an information about the past and – hand on the heart – quite obviously. In the last half year Bitcoin has put on an incredible rally, which pushed the course up to almost 17,000 Euros. But since January 2018 the course has been falling. The death cross would thus confirm the obvious.

That can be said in principle about different trend lines and indicators. For the sake of fairness, however, it must be emphasized that traders and trading bots often work with such values. The question therefore arises as to whether the market is paying attention to death crosses on a large scale.

A harbinger of further price falls?

Various sources actually see such death crosses as harbingers of a dramatic fall in prices. As the figure below shows, there is an example of this in the course of Bitcoin’s share price:

In the markets beyond the crypto currencies, the death cross or death cross is a standing term. Whether it is such a good signal can be denied, some analysts additionally look at the trading volume, others at other indicators.

Is it a Bear Trap?
Still others, in terms of the current development of the Death Cross, see it as a bear trap, a trap for those who sell nervously or sense a chance for a shorting position.

They point out that a death cross has occurred several times before and has not always led to a dramatic fall in prices:

Of the events in which it looked like a death cross, only one ended in a dramatic fall in the share price – four events since 2013 are therefore only 25%. The death crosses that have occurred in real terms have a similar balance: The figure is 33%, but that is not much more. All in all, the only time that there was a dramatic fall in prices after this death cross is the death cross of 5 September 2015. Other crypto currencies also had death crosses, but did not always fall dramatically.

Now one could sit back, as the representatives of the Bear Trap hypothesis do, and say that there will hardly ever be a dramatic fall in the share price. 25% or 33% risk is not much. One has to admit, however, that three or four events are not good statistics. On the 1h chart, the situation looks clearer:

However, it is questionable whether the behaviour of day traders and swing traders can be extrapolated to that of long-term investors.

What should we do with this death cross?
All in all, the death cross in the area of day candles should be taken for what it is: an indicator that illustrates the poor development of Bitcoin in recent weeks. It is rather out of place to make more of this and now to be afraid that there will be dramatic price slides with regard to the Death Cross.

Your own investment strategy should either work with such signals anyway – whether such strategies are promising for profit can be checked with backtesting if necessary – or, if you are a long-term investor anyway, do not give too much away on such signals. One way or the other: Now out of nowhere you should not panic because of a death cross, dead people live longer.