Your Daily Crypto News on Steemit October 9, 2017

Vitalik Buterin calls Craig Wright a Fraud!
Oracle's Blockchain Strategy: Competition for Microsoft and IBM?
Fusion LenderComm: New Project on syndicated Loans!
Wikipedia Founder Jimmy Wales warns of "too many Scams" at ICOs!
ETH Course Analysis for Week 40/2017!
BITCOIN COURSE CHALLENGE Week 1

Craig Wright has become a kind of cult figure for Bitcoin lovers all over the world. He also claims to be behind the synonym Satoshi Nakamoto. Nakamoto is the anonymous developer of Bitcoin. Now Vitalik Buterin has written on Twitter that he thinks Wright is a fraud and asked him to withdraw his allegations. This will surely be the reason for further discussions in the Bitcoin community.

Even today nobody knows who is behind the synonym Satoshi Nakamoto. Even if it is a person or a group of persons is still unclear. Over time, there were several rumors about who could be behind the pseudonym. The name Craig Wright emerged. This often claimed to be Nakamoto, but could never provide conclusive evidence.

Vitalik Buterin is not a fan of Craig Wright

In addition, Wright's company is continually applying for Bitcoin-related patents, which will allow the dispute to grow further. Wright also claims to be the only Bitcoin creator, which also provokes the displeasure of many. Also Vitalik Buterin has now enough of the wild claims and named Wright a fraud.

In a tweet he wrote:

While it is true that Wright does not have any solid evidence to be Satoshi Nakamoto, the title fraud is extreme. Wright has become a controversial personality in the world of crypto currency and few believe in the truth content of his statements. The doubts about his role in the emergence of the crypt currency also exist because it seemed funny at first that a well-known business man like Wright claims to have had the idea for Bitcoin and then publish it anonymously. Nevertheless, Wright maintains this for two years.

It is interesting how Vitalik Buterin assesses the situation. Even though many do not agree with his harsh criticism, he also argued that Wright could "harm the crypto currency community." This is an opinion that is actually represented by many. It remains to be seen, however, to what extent Wright's statements of the crypto currency actually harm or whether he can provide any evidence in the future.

The software company Oracle would now like to jump on the blockchain train and is right next to IBM and Microsoft.

Last week Oracle presented its new Blockchain Cloud platform at the OpenWorld 2017 conference in San Fransisco. With its "blockchain-as-a-service" approach, which is primarily aimed at companies, Oracle is in direct competition with IBM and Microsoft, who have been offering and exploring enterprise blockchain solutions for companies.

According to a press release from Oracle, the blockchain extension is to improve and expand existing cloud-based services. The usual arguments for a blockchain solution are listed as motivation: increased security, reduced costs and increased efficiency. These advantages are to be enabled, among other things, by time stamps, high scalability and real-time analysis in the blockchain network.

Oracle wants to address not only large companies, but also small companies and start-ups. The Blockchain Cloud Service should also enable start-ups to run their own smart contracts across the cloud platform. The transaction volume is decisive, so that the service is thus also attractive or affordable for smaller companies.

Another reason for the Blockchain Cloud Service is the link between companies and customers, which is to be secure and easy via established channels. Already in 2018, the service should also be available to the company in practice.

The extent to which Oracle, in addition to IBM and Microsoft, can position itself as a provider of blockchain based company solutions has yet to show. However, the approach of addressing smaller and / or less financially strong companies could turn out to be a very clever strategy.

A group of banks and financial services providers (Fusion LenderComm) have announced that they are working on a new syndicated credit platform based on distributed ledger platform from Corda.

The list of participating banks includes BNP Paribas, HSBC, ING, State Street and BNY Mellon as well as two other institutions not mentioned above. According to the Fintech company Finastra, which was created this year by the merger of the software company D + H and Misys, a previous pilot phase follows before the start of the project.

The project is aimed at a new type of syndicated credit market, in which several lender resources are bundled to finance individual borrowers. The idea is to use the R3 Corda platform (which released version 1.0 on Tuesday) as a hub for the management of loans and the exchange of important information. Such information may include, B. Fees and interest in real-time during the credit process.

Philippe Boulas, Head of Financing Solutions at BNP Paribas CIB, says in a statement:

The platform, called Fusion LenderComm, already has its own homepage and the companies behind it are already looking for other supporters (especially lenders) to bring liquidity into the market place.

The LenderComm Revealing merger is a remarkable reflection of the fact that last year a number of banks have begun testing applications for syndicated loans.

A Proof-of-Concept platform for syndicated loans, which was managed by Credit Suisse in the spring, achieved the participation of a wide range of companies, including State Street. Credit Suisse said in August that they are planning a commercial release for the next year.

The Wikipedia founder Jimmy Wales expresses himself positively to the blockchain technology and their multiple application possibilities. However, he considers the currently most frequently used remedy, the Initial Coin Offerings, to be critical.

In a conversation with the American news site CNBC, Jim Wales, founder of the online encyclopedia Wikipedia, has described Blockchain as a promising technology that will "accompany us for a while". At the same time, however, he pointed out that not all applications of this technology were in the best interests of the users involved. In particular the wave of ICOs of the last months is the entrepreneur a thorn in the eye.

Jimmy Wales said:

The big problem is the lack of a regulatory framework on the part of the state. In many countries, there is virtually no control over the issue of new tokens, so that token sales can be offered unregulated from all sides. Whether it is an ambitious IT project with a well-founded goal and an elaborated concept, or a fraudulent private individual or a group of people who regard the ICO as a pure source of funding, can not be examined without appropriate regulation. Even a professionally undercover ICO does not protect against failure, which is why Jimmy Wales' warning can also be extended.

Around the world, there have been regulatory efforts in the past month, most notably in Asia. For example, at the beginning of September, China first issued a general ban on ICO in order to cope with the escalating situation in the country. By the end of the month, South Korea had followed and declared the type of coin offerings illegal. At the same time, various rumors are still going around about upcoming bans.

Since October 5, the price has risen and currently stands at EUR 262.92 (USD 308.42), but there is a divergence between price and MACD development.

Image based on data from Kraken.com

Summary

The Ethereum course has risen during the week.
The course is currently running in a resistance and can not continue to rise.
Short-term support is EUR 259.59 (USD 304.51), while short-term support is EUR 265.08 (USD 310.95).

And it went on upwards! In the short term, after a fall of the price, the exponential moving average over a day or two would look as if a downtrend would begin, but the price could again rise massively from October 5th. What is striking is that the course has repeatedly tested the exponential moving average over the last day (blue), and that there is a divergence between the course development and the MACD: the MACD falls in contrast to the upward trend. One reason for this may be that the current resistance is not overcome.

The MACD (second panel) is still positive, despite the above-mentioned development. However, the MACD line (blue) is above the signal (orange).

The RSI (third panel) is at neutral 50.

The analysis of the movements in the 60 mins. chart speaks a neutral to bearish language. The most important support of the week is described by the minimum of the previous day and is EUR 259.59 (304.51 USD). The most important resistance this week is described by the maxima of the last days and is EUR 265.08 (310.95 USD).

The long term course development

Let us consider the 240 mins. chart as the first to assess medium and long-term developments:

Image based on data from Kraken.com

Also the 240 mins. Chart is characterized by a strong resistance, which has been tested three times since September 11th - the third test is currently taking place. If this resistance breaks, it would be interesting to see if a bullish triangle pattern is continued.

The MACD is positive, but the MACD line threatens to fall below the signal. The RSI has been close to the overbought and is now bullish at 65. In the medium term, the situation is bullish. The most important support corresponds to the minimum at the end of September at EUR 238.83 (USD 282.12). The most important resistance is EUR 263.96 (USD 309.64).

Let's take a look at the 1D chart:

Image based on data from Kraken.com

The development, which was addressed last week, is continued: the course is still trapped in the triangle pattern. He currently rests on the exponential moving averages over one or two months.

The MACD has now become positive both with respect to the MACD line and the signal. The RSI is at 56 bullish.

Overall the long term forecast is bullish. Both support and resistance are described by the Triangle Pattern and have not changed since last week. The most important resistance is EUR 319.69 (USD 375.01). The most important support, along with its role in the Triangle Pattern, is approximately the amount of the 38.2% Fib retraction level at EUR 216.56 (USD 254.04).

Disclaimer: The course analysis is from the morning MUT time zone and can have changed since. The price estimates presented in this post are not a recommendation to buy or sell. They are merely an estimate of me.