Bitcoin secret: What are they really?

You’ll never be able to fully answer that question and set an ultimatum, but you can approach the solution. Finally, the classification of Bitcoins does not change the function or use of the product, but only serves legal purposes, such as tax treatment.

In order to understand Bitcoin secret in more detail, one should look at the different views of the US governments:

1. a currency or money
This point is summarised here in simplified form. This argument would be supported by the fact that Bitcoins secret serve as a common fiat currency for the exchange of goods which is not a Bitcoin secret scam. It is ultimately based on the confidence to have a corresponding equivalent the next day as well. The only difference is that it cannot really be regulated, the maximum amount of Bitcoins is set mathematically and transfers are carried out collectively by other participants.

2. a value (engl. property)
The value means that one orients oneself on a comparison object. X Bitcoins have the value of Y goods, which means in this context: Bitcoins are not a real currency, they orient themselves e.g. at Fiat currencies and are only an alternative or a complementary, but not an independent currency itself.

3. a commodity
Most Bitcoin users probably find the explanation as a commercial commodity most distant. The term “commercial good” refers first and foremost to a good. This means that it can be bought, used and traded. It does not serve to be a currency itself, but only to be used for self-interest and trade. Thus it is regarded as property. Example: If one exchanges his Euros in Bitcoins, this is not regarded as exchange, but as purchase, since one acquires for the money (Euro) a commodity (Bitcoins).


A conclusion to this question is indispensable subjective, which is shown not least by the diversity of opinions in US states. It will not be possible to give an ultimate answer to this question, but there are some arguments in favour of the view of the currency:

Bitcoins are not bought to be used (such as a condominium). For this reason, the treatment as commodity is not plausible. The main purpose of Bitcoins is to exchange, i.e. buy and sell, other goods. Thus they would be a currency. This would also be supported by the fact that Bitcoins is a collective ecosystem that is based on the trust of other users and regulates the exchange.

Blockchain patents: China and USA dominate, Europe defeated

The Australian Patent Office IP Australia has compiled an overview of the worldwide patent landscape in the blockchain sector. China continues to lead the field in terms of the number of patent applications. Most patents were filed in the area of payment and transaction systems.

What the figures also show: Europe still has some catching up to the Bitcoin formula

The fact that blockchain technology and Bitcoin formula is a growth market is also reflected in the number of patents applied for which are not a scam according to onlinebetrug. The Australian patent authority IP Australia has carried out a study on blockchain-related patents. According to the study, companies worldwide filed more than 3000 patents between 1999 and 2018.

China accounts for the lion’s share of patent applications. With over 1,500 patents filed, more than half of all applications come from China. This is followed by the USA with around 950 applications, followed by Europe with 131 patents behind South Korea (220) and Japan in fourth place.

In 2013, the number of patent applications was 49, followed by a sharp increase to 162 in 2015. The provisional high point is 2016 with around 1100 patents. Most blockchain patents are registered by the patent family of payment and transaction systems, followed by financial services, business administration and shopping & e-commerce.

The big four

The four companies with the most patent activities also reflect the dominance of the USA, China and South Korea. Here, the South Korean company Coinplug leads with 75 blockchain patents applied for, 69 of which have already been approved. Second place goes to IBM with 61 patents (12 commitments), the e-commerce trip Alibaba Group (57 applications, zero commitments so far) and the Bank of America (49 pending patent decisions).

While Coinplug and IBM also lead the list of successful patent applications, accenture from Ireland is a European company in third place. Accenture holds as many blockchain patents as Microsoft Azure with 7 so far. Six of the ten most committed companies are less than ten years old – a clear indicator for the youth of the industry.

Germany also has a steadily growing number of blockchain and crypto start-ups. BTC-ECHO has summarized the status quo of the German crypto landscape in a study that you can find here.

The ICO trilemma

A study funded by the Canadian government has identified the problems faced by ICOs. According to the study, ICOs face the challenge of meeting compliance, reach and cost efficiency requirements in equal measure.

For most, this Bitcoin news are an insoluble trilemma

Initial coin offerings – or ICOs for short – are an innovative means for companies to obtain investment funds. Unfortunately, there are numerous black sheep among the Bitcoin news, because even unfair players find an interesting investment vehicle here. In many places, the regulatory authorities are still struggling for clear ICO guidelines like this: A general ban on ICOs, as is the case, for example, in China, is something very few people are aiming for. The potential of the new form of financing is too great. A large proportion of scams (Bloomberg estimates that just under 80 percent of the ICOs held in 2017 were fraudulent projects) and the large number of failed projects have, however, permanently clouded the view of ICOs.

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The Trilemma: Either or (or)
A study conducted by iComply, Mitacs Canada and the University of British Columbia and funded by the Canadian government has examined the fundamental problems of ICOs. The analysts found that ICOs face a trilemma. This prevents them from unfolding their true potential. The trilemma consists of the following dimensions:

Distributed investors (reach)
cost efficiency
While ICOs scored well in the area of cost efficiency in their early days, the study shows that the growing influence of the regulatory side has led to interdependencies between the three dimensions mentioned above. Anyone wishing to carry out an ICO would hardly be able to achieve more than two of these goals. The ideal of a law-compliant (1) ICO that reaches globally distributed investors (2) in a cost-efficient way (3) is now difficult to implement.

Private, Hybrid and Maverick: The ICO archetypes
The analysts identify four archetypal ways in which the trilemma is frequently encountered.

Scam Alarm: The Maverick

A Maverick ICO doesn’t care about compliance. The main focus here is on maximizing reach and cost efficiency. And best of all, without appearing on the radar of the regulatory authorities. Classic examples are exit scams or snowball systems. The researchers cite the now legendary Bitconnect fraud as a concrete example. These breakaway ICOs are not only damaging the reputation of the industry, the analysts say:

“In summary, it can be said that the Maverick approach is not only very risky, but also harms economies, societies and the practice of ICOs in general. According to the compliance trilemma, the more likely it is that the “more successful” the ICO (i.e. the higher the amount collected), the more likely it is to attract the attention of the authorities”.

Low range: the private ICO
A private ICO targets only a small circle of institutional investors. The range is sacrificed in favour of compliance and cost efficiency. An example of such an approach is Telegram’s ICO. For Telegram, the calculation worked out at the time. In private pre-sale, the company was able to collect around 850 million US dollars, more than enough to be able to do without a public ICO. Conversely, the risk of private ICOs is, among other things, that not enough investment money will be raised due to the limited range.

BlockShow Europe 2018 welcomes Wikipedia founder Jimmy Wales to the Bitcoin loophole conference

3 May 2018 – After two eventful months hosting Blockchain Meetups in Europe, BlockShow brings their journey to an end with the BlockShow Europe 2018 Conference. At the main conference in Berlin from 28 to 29 May, more than 80 experts will share their expertise in a wide range of blockchain and cryptographic topics. BTC-ECHO is a media partner – the article contains the discount code for our readers.

Sponsored Posts are paid items for the content of which the advertising companies are solely responsible. BTC-Echo is not responsible for the promised services or investment recommendations.
The Meetups, which took place throughout Europe, were a complete success and offered the participants good opportunities to network with their keynote speakers.

In total, BlockShow held eight Meetups about Bitcoin loophole in cities such as Paris, Rome and Zurich

During these Meetups the organizers held Q&A sessions with promising Bitcoin loophole start-ups. The participants voted on the winners of these sessions, who are allowed to participate in the upcoming BlockShow Oscar. This is a competition at the BlockShow 2018 in which 50,000 euros can be won, according to the Bitcoin loophole report by onlinebetrug.

BlockShow Europe 2018 in Berlin expects more than 3,000 blockchain influencers and enthusiasts. The conference will offer more than 150 projects a platform where 120 organisations and companies will provide their support for the upcoming event.

“Among the conferences, the BlockShow is like Cirque du Soleil among the circuses – we stand out from the competition. We are not the typical conference. We are moving away from standardised and official content and focusing on a casual atmosphere where the community feels at home and where people can network. We distance ourselves from the word ‘official’ and want to replace it with ‘formless’. We are a show for representatives of the blockchain business who want to make their time efficient”. explains Addy Creeze, CEO of BlockShow.

BlockShow is pleased to welcome Jimmy Wales, founder of Wikipedia and one of Time magazine’s “100 Most Influential People” to the conference. Wales is a great influence and advocate in the crypto scene. He began experimenting with the crypto currency in 2014, tweeting in March that he was “playing with BTC. In a subsequent tweet he attached his wallet address to which he subsequently received 5 BTC unsolicited donations. The rest is, as the saying goes, history.

Since 2014, Wikipedia and the rest of the Wikimedia Foundation have accepted Bitcoin as a donation method, thus promoting the use of the crypto currency.

A total of 80 globally recognized speakers will appear at the conference. The list includes experts such as:

Bobby Lee – Co-Founder of BTCC, Board Member of the Bitcoin Foundation
Benny Giang – Co-Founder of CryptoKitties, Product Manager at Axiom Zen
Plamen Russev – Founder and Executive Chairman of Webit.Foundation & Global Webit Congress
Mike Butcher – Copywriter, Broadcaster & Blogger, Editor-At-Large at TechCrunch, candidate for an MBE in the “Queen’s Birthday Honours” list 2016
Llew Claasen – Bitcoin Evangelist, Venture Capitalist, Executive Director of Bitcoin Foundation since 2016

Panels and sessions worth mentioning:

Panel Discussion “Governmental Blockchain Initiatives within the EU (and Beyond)”
Panel Discussion “How Blockchain Changed the Concept of Privacy & Where It Leads Us”
Solution Session “Blockchain and Cybersecurity”
Solution Session “Will Blockchain Drive the Evolution of the Game Industry?”
The conference has a special app for the event, with which all attendees can connect before and during the BlockShow to get the most efficient network effect. Users will be able to filter the attendees according to their expertise and employment (investor, start-up, crypto-fund etc.) in order to organize business meetings easily and efficiently. This is especially convenient for investors who can use the app to analyze different projects before they decide on a meeting.

According to the statistics of the last BlockShow Europe 2018 welcomes Wikipedia founder Jimmy Wales to the Blockchain conference, each app user concluded an average of three agreements or partnerships during the two-day conference.

Tickets are now for sale. From 26 April to 23 May, the ticket price will be 1,988 euros, rising to 2,488 euros as the event approaches.

Interview with TV-TWO: Getting paid for television

Television and getting money for it – that’s what TV-TWO wants to put into practice. We met with the founders of TV-TWO Philipp Schulz and Jan Phillip Hofste to learn more about their version of the television of the future and to find out why the Blockchain should help.

The TV advertising market is the largest and at the same time one of the most inefficient advertising markets – every viewer receives the same advertisement. Personalised advertising, as we know it from the Internet, should now also be possible in front of the television. Companies want to reach their target group and TV stations want to retain their viewers in order to generate advertising revenue – so why not involve consumers in the cake?

Getting paid for television sounds adventurous – how is the news spy supposed to work?

TV-TWO is a smart TV app that offers consumers an automatically personalized TV experience – a channel that always shows what interests the news spy. At the same time, according to onlinebetrug, brands can build a direct relationship with consumers by rewarding them with crypto currencies for watching their clips.

At the start of the app, the viewer initially sees traditional TV, but can start the TV TWO world by simply pressing a button on the remote control. An endless video stream is shown here. Streaming tailored to the consumer is guaranteed by several factors:

When the app is used for the first time, personal areas of interest can be selected from various subject areas.

2. the app recognizes the user behaviour of its users in relation to classic TV channels or the TV programme running there.

The app uses the behaviour of its users in relation to the offered video stream (pause, rewind, skip) and decides which video is displayed next.

The combination of these three factors means that the TV-TWO algorithm can automatically create a tailor-made mix of organic content and highly relevant sponsored videos. As a result, there are no more annoying commercial breaks, but a theme-oriented sequence of coordinated videos. The consumer is rewarded with our utility token for viewing advertising content. For us, the redistribution of advertising budgets is a logical step towards a fairer and more transparent marketing world – after all, the viewer provides his or her attention and data. Advertisers purchase the Token for Television and pass it on to those consumers who have watched their video after their advertising has been broadcast. This happens proportionally to the duration of the clip being watched. The consumer can then exchange the token for Bitcoin or Euro on crypto exchanges.

Why do you need a blockchain solution to realise your project?

Our goal is not only to bring the TV landscape technologically up to the level of the online world, but also to redesign the future of advertising-financed models with greater viewer participation. Advertisers around the globe are complaining about rising prices while maintaining a lack of transparency about their advertising expenditures. Common questions are: “How do viewers interact with my content?”, “Are the reports credible?”. Blockchain technology offers the ideal basis for regaining the lack of trust on the part of advertisers.

How do you ensure the decentralization of your blockchain solution?

Our Smart TV app communicates directly with the advertiser via Smart Contract on the Ethereum blockchain. This guarantees transparency about the playout. Since the Smart Contract can be viewed by all parties via our GitHub, manipulation of the Watch Statistics on the open TV-TWO platform can be ruled out. In addition, the direct interaction between the advertiser and the consumer can reduce the relevance of TV channels. Since TV is still the mass medium par excellence, this represents an exciting step into a decentralized future for us.

ETH price analysis KW43 – Will cryptosoft soon go up again?

After falling to 237.14 EUR (275.30 USD), the price rose to 266.05 EUR (308.87 USD) and is currently trading around 255 EUR (about 296 USD).

Summary of cryptosoft

The Ethereum cryptosoft course has remained constant throughout the week. Since October 25th, the price of cryptosoft has been in a very narrow triangle pattern and is moving sideways. The short-term support is at 249.51 EUR (289.66 USD), the short-term resistance at 257.47 EUR (298.90 USD).

Both in the case of Bitcoin and in the case of Ethereum, the hard forks are over. This led to hardly any price movements for the value pair ETH/EUR. Apart from the price minimum and maximum on 23 and 24 October, respectively, the price moved around 255 euros (296 US dollars). On October 25, a very narrow triangle pattern began, which may now be about to break out. After the support of the triangle pattern was recently tested, the question arises whether the resistance can hold back the price.

The MACD (second panel) corresponds to this calm before the storm: it is almost zero, more precisely the MACD line is positive, the signal is about to break through the zero line.

At 52, the RSI (third panel) is slightly bullish

The analysis of the movements on the 60min chart speaks a bullish language – which is quite exciting in the light of the triangle pattern! Most important support of the week is described by the beginning of the triangle pattern and is 249.51 EUR (289.66 USD). This week’s most important resistance is also described by the beginning of the triangle pattern and is 257.47 EUR (298.90 USD).

Let’s assume that the triangle pattern comes to a conclusion. What would this mean for the medium to long-term price movements? Let’s start with the 240min chart:

The flatter uptrend mentioned last week was briefly breached, but the price could rise above it again with a bold pump. Since then, this again represents an orientation for further price movements.

As in the case of the 60min chart, the MACD is close to zero or slightly above it. Currently, the MACD line is rising above the signal. The RSI is also slightly bullish at 52. In the medium term the situation is slightly bullish. The support is described by the downtrend and is around 249.51 EUR (289.66 USD). The resistance is described by the temporary price peak in mid-October and is at 291.73 EUR (338.68 USD).

All short and medium-term price movements on the 1D chart can be viewed in a slightly larger context:

As mentioned earlier, the price has been in a large symmetrical triangle pattern since the all-time high in June. The recent price movements, especially the crossing of the exponential moving average over two months, are like the bullish price estimates described on the 60min and 240min charts, to be interpreted as a bounce off the support of the triangle pattern.

The MACD is positive, as well as the MACD line was able to rise above the signal again. The RSI is neutral at 49 and at best slightly bearish.

Overall, the long-term forecast is neutral. Both support and resistance are still described by the triangle pattern. The most important resistance is 315.32 EUR (366.06 USD), the most important support is 237.97 EUR (276.27 USD).

HUSD: The stable coin solution of the Bitcoin stock exchange Huobi

The Bitcoin exchange Huobi is planning its own stable coin solution. However, instead of issuing a new token, as is currently the case with many others, the company is working on a solution to connect the existing coins.

Stable coins are a controversial issue in the Bitcoin ecosystem. Although they are theoretically very practical, they promise a one-to-one mapping of fiat currencies such as the US dollar. This allows one to switch directly between crypto and fiat when trading on the Bitcoin exchanges, without having to go through any bank accounts.

In practice, however, doubts repeatedly arise about the supposed stability of stable coins. As the Tether case has recently shown, there are currently still some problems in the implementation. Even in the sheer mass of stable coins, you can sometimes ask yourself the question: Do we really need several stable coins? A stable currency should actually be enough.

Huobi launches new stable coin for stable coins with HUSD in the crypto trader review

Be that as it may, the Bitcoin exchange Huobi is now throwing its own stable coin onto the market, says onlinebetrug, which in turn is to represent other stable coins: the HUSD. According to the official announcement, Huobi wants to release a stable coin, which represents a total of four crypto trader review stable coins. These are Paxos Standard (PAX), TrueUSD (TUSD), USD Coin (USDC) and Gemini Dollars (GUSD). If you transfer stable coins to your Huobi account in the future, the stable coin balance will be displayed directly in HUSD – a conversion and an exchange into one of the stable coins will be done directly by the exchange’s own token.

Bitcoin trading pair is still to come

As you can see from the blog post, the Stable Coins PAX, TUSD, USDC and GUSD can be deposited on the exchange from October 16th. The trading pair USDT/HUSD for Tether will be available on the Bitcoin exchange from 22 October. The BTC/HUSD and ETH/HUSD trading pair will probably have to wait some time. Huobi first wants to evaluate the “market conditions”.

Blockchain Interest

Like some at the Money20/20 conference, Watson quickly indicated that Diebold was now more interested in blockchain technology. These included in particular conditional blockchains and distributed registers in which a certain number of financial institutions or bodies share a transaction network.

Watson sees such applications as potential dampers for disputes regarding data protection laws and data security in payment transactions.

“There is generally a lot of interest in conditional systems, but there are other technologies, such as programming languages. We think it’s interesting to go into banking,” soe Watson said.

Watson said he was impressed by the new applications for blockchain-based assets, but stressed he was “excited” to be shown at MIT how ownership titles can be transferred through such systems.

Digital cash

Contrary to the short-lived development brakes against the spread of this technology, Watson is largely optimistic that new solutions will bring alternatives to physical cash.

Such a transition was a top priority for Diebold, who introduced its card-less Mobile Cash Access solution in July 2013, which allows customers to perform transactions from a vending machine using a mobile device.

“Approximately $5 trillion in cash is circulating around the world, and this cash is not inaccessible to payment companies,” Watson said.

Watson thinks such transitions are more likely to happen in developed countries, as these markets have a “better taste” for new financial tools. Countries like Kenya and India have had to face local challenges.

Diebold’s latest annual report suggests that a “significant percentage of revenue” is generated by operations outside the United States. Thus, in 2013 and 2014, more than 50% of revenues came from international markets.

“I think it will be heavily dependent on the region and customer base,” he explained.

Mentality of Mass Consumption

After being asked about possible ways to start up in the Bitcoin vending market, Watson warned that despite his pessimism about the prospects for the industry, there is still no judgment on long-term success.

Watson said that there is no company that offers Bitcoin ATMs and has “completely failed”, but even that has had a “resounding success”.

“For founders or others who have an idea for a concept, it’s hard to put yourself in the role of the end user and apply that to the product,” he said.

Watson also confirmed how difficult it is to dream of big steps in this area, considering the (slow) adoption of digital currencies. Finally, he said:

“It’ll take a while.”