How much of your life is stored digitally?
Your photos, your files, your most intimate conversations, it’s all on a hard drive somewhere and it’s probably easy to access by you, but also by the cloud storage companies you trust.
MaidSafe (MAID) is a company that is designing and implementing what they call the SAFE Network – a next-generation decentralized and secure network. The SAFE (Secure Access For Everyone) Network is a new secure and decentralized data management service that is built by sharing the unused computer resources of the individual network participants. Each user of the SAFE Network provides a part of their computer resources: data storage space, processing power, and Internet connectivity thus forming a large decentralized network.
The SAFE network puts its user’s safety and security on top of everything else and so the user data is encrypted and broken up into chunks that are spread among the users of the network. The people that participate in it are not actually aware of the data they have been asked to store on their systems, not they have direct access to what is currently stored on their computers. Furthermore as a user if you share some of your unused computing resources on the SAFE network you are going to be compensated for doing so and get paid in Safecoin crypto tokens.
The SAFE network is not being controlled by a single large entity or a multiple of global ones, it is not controlled by anyone in fact as it is decentralized and the users participating are what is essentially building up the network itself. So without people like you, the future user of the network there will be no network. There will be no privacy violations whether you decide to host your own website on the network, visit a website somebody else already made, create or run an application or just provide some of your spare computing resources to help make the SAFE network bigger and stronger.
With that said, let’s take a look at the Chart of MAID below and see what the technicals may be foreshadowing.
As we can observe from the chart above, MAID has been grinding steadily higher over the course of the past several weeks despite a difficult and challenging environment trading above both its 20 (yellow line) and 50 (blue line) day moving averages, which depicts a short as well as an intermediate-term favorable posture from a technical standpoint.
In addition, we can also see that MAID is rapidly approaching a critical inflection point designated via the light blue horizontal line on the chart acting as potential short-term resistance.
Furthermore, for the past several months (since February), the 200 (red line) day moving average has kept a lid on the price of MAID as we can witness from the daily chart above.
Nonetheless, MAID appears to be building energy/cause and may perhaps, finally be ready to attack and clear the 200DMA and set itself free.
Thus, let’s have a look at the levels to monitor moving forward for further clues/evidence that may set MAID free, once-and-for-all.
If at any time in the days ahead, MAID can go top-side of the .55 level, such development, should it indeed materialize, would more than likely trigger its next meaningful advance with a price objective in the .70-.75 zone. With respect to the potential short-term support, both investors/traders may want to monitor the .40-.43 area as well as the .35 figure to lend support.
While further work remains in order for MAID to set itself free, both investors/traders may want to pay close attention to the action in the days ahead and put MAID front-and-center on their radars.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
Charts courtesy of tradingview.com
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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