6 Questions for Rob Viglione of Horizen – Cointelegraph Magazine
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Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes!
This week our 6 Questions go to Rob Viglione, co-founder of Horizen.
Rob is the team lead at Horizen, a blockchain platform that aims to enable an application-rich and inclusive ecosystem through leading-edge sidechain solutions. He’s also the CEO and co-founder of Horizen Labs, a company that builds blockchain solutions for businesses.
Formally a trained physicist, mathematician, and military officer, his experience working on satellite radar, space launch vehicles, and combat support intelligence informed much of his understanding of how blockchain technology could change the trajectory of global societies.
Rob holds a Bachelor of Physics and Actuarial Mathematics, an MBA in Finance & Marketing, and a Ph.D. (C) in finance at the University of South Carolina, where he researches cryptocurrency and teaches a class on blockchain in finance.
1 — What’s a problem you think blockchain has a chance to solve, but hasn’t been attempted yet?
The biggest opportunity for the technology is in reshaping social organization and governance.
What Bitcoin did in creating a competitive market for money can be turned towards competition for governance services, specifically to give people a real voice in their communities and to use incentives to induce socially beneficial behavior.
There are some companies experimenting in this direction, like Colu, that use the underlying technology to help cities engage their citizens by rewarding them for taking certain actions aligned with strategic goals, like promoting sustainability and local commerce. This is just a start, and the real promise is combining this kind of micro engagement with provably fair voting systems, community tokens, and quite simply, an explosion in experimentation.
2 — Which movie alternate universe would you most like to live in, and why?
I haven’t started watching the series yet, but I love the idea in Altered Carbon where consciousness can be transferred to different bodies. I’m still waiting for that Singularity moment where who we are can be decoupled from our physical bodies, but paradoxically that would surely change who we are!
3 — What is the single most innovative use-case for blockchain you’ve ever seen? It may not be the one likeliest to succeed!
Being part of Horizen, I can’t help but be a bit of a zero knowledge cryptography geek and get excited about the core possibilities of blockchain in being universal truth engines.
Take what we’re doing with Zendoo, Horizen’s sidechain, as an example. On the surface it appears to be simply a blockchain interoperability protocol, but as we layer in SNARK proving systems for security, it opens the door to any kind of computation or application residing as a “sidechain” to Horizen and the mainnet ends up validating whatever rules happen to be in that “sidechain.” I use quotations because what resides on the other end of the system, what’s passing a SNARK certificate for verification, need not be a blockchain!
This opens the door to a world of new use cases in which what we’re doing today in the world of public blockchain simply creates that tamper resistant global truth system that can connect the world.
4 — What’s a favorite movie, and choose the single most memorable moment from watching it.
I have to go with “Gladiator” as being one of those super inspirational movies that never gets old. Who doesn’t love a story of a humble badass who refuses the easy path of corruption, loses everything, and still refuses to give up? Our team and community joke around about Horizen being like the honey badger, just going about its business and refusing to give up, but maybe we should be comparing ourselves to Maximus!
The crypto industry has had exuberant highs, gut wrenching lows, and everything in between with plenty of opportunities to take the easy path for quick success. We’ve always chosen the harder path, not because we’re masochistic, but because we’re playing the long game.
5 — What are the top five Crypto Twitter feeds you can’t do without, and why?
Narrowing this down to five is tough, but ranging from interesting to informative (not arranged in that order!) I’ll take a stab by saying:
Charles Hoskinson (@IOHK_Charles) for his passion, wide ranging knowledge, and ethics;
Barry Silbert (@barrysilbert) as a visionary who is plotting this industry’s dominance over the coming thirty years (so he filters the short term hype);
Balaji Srinivasan (@balajis) has always been brilliant and interesting but his thought leadership around COVID was spot on;
Erik Voorhees (@ErikVoorhees) for continuing to resonate the same values that brought me into the industry;
And Vitalik Buterin (@VitalikButerin) because he’s just so ridiculously smart and intellectually interesting in the things he cares about.
6 — What’s the unlikeliest-to-happen thing on your bucket list?
It’s hard for me to think of anything as being out of reach, but my brain’s plasticity would probably argue that my goal of being fluent in a few more languages might not happen! I’m excited to see how that works out!
December is proving to be another blockbuster month for Bitcoin as the flow of institutional investors injecting funds into Bitcoin continues to increase.
Business intelligence firm MicroStrategy announced that it had raised $650 million worth of convertible bonds at a rate of 0.75% due in 2025. The company now plans to invest the net proceeds in Bitcoin after identifying its “working capital needs and other general corporate purposes.”
When institutional investors show such a large appetite to buy Bitcoin (BTC) near the all-time high, it is no surprise that the corrections have been shallow.
Tyler Winklevoss said in a recent interview with CNBC that institutional investors are worried about the “oncoming inflation and the scourge of inflation with all the money printing and the stimulus from the COVID pandemic lockdowns.” Hence, they have been putting money into Bitcoin.
Crypto market data daily view. Source:Coin360
Today, Bitcoin price surged back above the $19,000 level and it may challenge the psychological $20,000 resistance. If this level is broken out with conviction, it may create FOMO among retail traders as many have not participated in the current rally.
If money from retail investors also starts gushing in, then Bitcoin could pick up momentum and start the next leg of the up-move.
Along with Bitcoin, there are a few altcoins that may participate in the up-move next week. Let’s study the charts of the top-5 cryptocurrencies in order to spot the critical support and resistance levels to watch out for.
BTC/USD
Bitcoin closed below the 20-day exponential moving average ($18,435) on Dec. 10 and 11. However, the long tail on the Dec. 11 candlestick shows that the bulls purchased the dip instead of panicking and dumping their positions.
BTC/USDT daily chart. Source: TradingView
The price rose above the 20-day EMA on Dec. 12 and this could have trapped some aggressive bears who went short in the past few days expecting a sharp fall. This short covering and buying by the bulls pushed the price above the descending channel today.
The price has again reached the $19,500 to $20,000 overhead resistance zone. If the bulls can thrust the price above this zone, the next leg of the uptrend could begin.
Conversely, if the price again turns down sharply from the current levels and plummets below $17,500, it could signal that a short-term top is in place. Such a move could pull the price down to the next support at $16,191.02.
The 20-day EMA has started to turn up and the relative strength index (RSI) has rebounded off the 50 level, which suggests that bulls have the upper hand.
BTC/USDT 4-hour chart. Source: TradingView
The 4-hour chart shows an ascending triangle formation, which will complete on a breakout and close above the overhead resistance zone. This setup has a target objective of $23,576.
However, the bears are currently attempting to stall the up-move at the $19,500 resistance. If the price turns down from the current levels, the bulls are likely to buy on any dip to the 20-EMA. A strong rebound off this support will improve the prospects of a breakout above $19,500.
This bullish view will be invalidated if the BTC/USD pair turns down from the current levels and breaks below the trend line of the triangle.
A breakdown of a bullish setup traps several aggressive bulls and that could result in panic selling. If that happens, a drop to $16,191.02 may be on the cards.
ETH/USD
Ether (ETH) has broken out of the descending channel, which suggests advantage to the bulls. The price can now move up to the $622.807 to $635.456 overhead resistance zone.
ETH/USDT daily chart. Source: TradingView
The RSI has bounced off the midpoint and broken out of the downtrend line, which suggests that bulls have the upper hand.
If the bulls can push the price above the resistance zone, the next leg of the uptrend could begin. Although there could be some pit stops in between, the next target is $800.
On the other hand, if the ETH/USD pair turns down from the overhead resistance but does not give much ground, it will be a positive sign and will increase the likelihood of a breakout of the resistance zone.
This bullish view will be invalidated if the price turns down from the current levels and re-enters the channel. Such a move will suggest that the current breakout was a bull trap.
ETH/USDT 4-hour chart. Source: TradingView
The 4-hour chart shows an ascending triangle formation, which will complete on a breakout and close above $622.807. The moving averages on the verge of a bullish crossover and the RSI is in the positive territory indicate that bulls have the upper hand.
This positive view will be invalidated if the price turns down from the current levels or the overhead resistance and breaks below the triangle. Such a move could result in a drop to $488.134.
XMR/USD
Monero (XMR) completed an inverse head and shoulders pattern on Dec. 7 but the bears quickly dragged the price back below the neckline on Dec. 9. However, the bulls again purchased the dip to the 20-day EMA ($133) and propelled the price back above $135.50 on Dec. 11. This suggests aggressive buying at lower levels.
XMR/USDT daily chart. Source: TradingView
The upsloping moving averages and the RSI above 66 suggest advantage to the bulls. The target objective of the breakout from the bullish setup is $167.
However, the bears may have other plans. They are likely to defend the psychological level at $150. If the price turns down from this resistance but rebounds off the $135.50 support, it will suggest that bulls are accumulating at lower levels.
On the contrary, if the price drops below the $135.50 support and the 50-day SMA ($124), it will suggest that the bears are back in the driver’s seat.
XMR/USDT 4-hour chart. Source: TradingView
The 4-hour chart shows the formation of an ascending triangle pattern that completed on a breakout and close above $142.50. However, the XMR/USD pair has not picked up momentum and the price is stuck inside the $142.50 to $150 range.
If the bulls can thrust the price above $150, the uptrend could resume with the next target at $162.50. The upsloping moving averages and the RSI in the positive zone suggest that the path of least resistance is to the upside.
XEM/USD
NEM (XEM) soared on Dec. 12 and the price reached the $0.27688 overhead resistance today. The bears are currently attempting to stall the up-move at this resistance.
XEM/USDT daily chart. Source: TradingView
However, if the bulls do not give up much ground from the current levels, it will suggest that traders are not booking profits in a hurry. That could keep the price range-bound near the overhead resistance.
The upsloping 20-day EMA ($0.209) and the RSI near the overhead resistance suggest that the path of least resistance is to the upside. If the bulls can propel the price above $0.27688, the XEM/USD pair could move up to $0.3564607.
XEM/USDT 4-hour chart. Source: TradingView
The bears are aggressively defending the overhead resistance. If the price rebounds off the 20-EMA, it will enhance the prospects of a breakout of $0.27688. The upsloping 20-EMA and the RSI in the positive zone suggest bulls have the upper hand.
Contrary to this assumption, if the price breaks below the moving averages, a drop to the trendline is possible. A break below this support will suggest that the bulls have lost their grip.
AAVE/USD
AAVE is trading inside an ascending channel. The price turned down from the $95 overhead resistance on Dec. 8, but the positive sign is that the bulls have purchased the dip to the 20-day EMA ($77).
AAVE/USDT daily chart. Source: TradingView
The RSI has once again bounced off the midpoint and the 20-day EMA has started to turn up. This suggests that the correction may be over and the bulls are back in control. The first target on the upside is a retest of the $95.
If the bulls can push the price above $95, the next leg of the up-move could begin. The $100 psychological level may act as a resistance but if the bulls can drive the price through it, the AAVE/USD pair could rise to the resistance line of the channel at $112.
This bullish view will be invalidated if the price turns down from the current levels and plummets below the support line of the channel. Such a move will suggest that the trend has turned in favor of the bears.
AAVE/USDT 4-hour chart. Source: TradingView
The price turned up from $70.564, just above the support line of the ascending channel but the bears are attempting to stall the relief rally at $86.14.
If the bulls can push the price above this resistance, the pair could rise to $95. A break above $95 could start the next leg of the uptrend.
On the other hand, if the price turns down from $86.14, the pair may form the right shoulder of a possible inverse head and shoulders pattern. This view will be negated if the price dips below the $70.50 support.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
19-year-old Ukrainian politician reports crypto holdings of $24M in Monero
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3 Wochen ago
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Dezember 9, 2020
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A newly appointed official in Ukraine has officially declared his cryptocurrency holdings, including a significant amount of privacy-focused cryptocurrency Monero (XMR).
Rostyslav Solod, a 19-year-old deputy of the Kramatorsk regional department and the son of Ukrainian politicians Natalia Korolevska and Yuriy Solod, reported holdings of 185,000 XMR, worth about $24.5 million at publishing time.
According to a declaration published on Dec. 2, Solod became the owner of this Monero fortune back in March 2015, when he was 14 years old.
At the time, Monero was trading at around $0.50 per coin, meaning that the market price for this acquisition was around $90,000. According to the declaration, this acquisition cost Solod’s family 1.6 million hryvnias (about $65,000, according to the exchange rate in March 2015). The declaration indicates Solod’s Monero holdings as property.
In March 2020, the Ukrainian National Agency on Corruption Prevention released a set of guidelines for officials to report their crypto holdings. Public officials should disclose the name of the assets, the purchase date, the quantity and the overall value of the crypto on the last day of the reporting period.
However, according to Michael Chobanian, a major crypto advocate in Ukraine, these recent requirements are poorly enforced. He told Cointelegraph:
“Right now there is no penalty for not providing the correct information in the declaration and […] they can just write anything. And no official government organization has the tools or skills or ability to check how much crypto you have or whether you actually have it.”
Chobanian further suggested that some officials could claim to own crypto in order to hide illegal assets. “You can even probably declare 100 million BTC, because no one would understand and check,” he said.
Bulls eye the $19.5K resistance but low volume keeps Bitcoin price sideways
Published
3 Wochen ago
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Dezember 8, 2020
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Today was a relatively uneventful day for Bitcoin (BTC) as the price continues to consolidate into a tighter range.
As mentioned by Cointelegraph contributor Rakesh Upadhyay, Bitcoin price spent the weekend consolidating within a bull pennant and the breakout to $19,418 was quickly stamped out by overhead resistance.
After retouching the pennant trendline, the price gave way, falling below the 20-MA on the 4-hour time frame and briefly losing the $19,000 mark.
Crypto market daily price chart. Source: Coin360
Generally, most traders seem to agree that after a raging 93% rally from $10,300 to $19,888, a period of consolidation is necessary. Cointelegraph analyst Micheal van de Poppe said:
“On the higher timeframe, Bitcoin is still acting as it was last week. We are still acting in the all-time high resistance zone. I still have my eyes on $16K, which we bounced from, and $14K as these areas still could be retested as support. Holding $19K is important and if we have a daily close below $18.9K I think we’ll fall through.”
On the daily and 4-hour timeframe traders will note that the price is still notching lower highs and higher lows, a sign that the price range is beginning to narrow.
BTC/USDT 4-hour chart. Source: TradingView
Currently the price is still holding within the pennant trendline as support but a breakthrough the structure will require a high volume move as there is persistent overhead resistance at $19,500.
As mentioned in previous analysis, a drop below the $18,800 level will see BTC search for support at $17,900, and below that the $16,000 to $15,750 range.
For the short term, risk-averse traders are likely to keep a close eye on the 4-hour chart to see if the price can again find support above the 20-MA in order to burst through the pennant. It is imporant to note that this move will require signifanct volume to avoid rejection in the $19,400-$19,500 resistance zone.
Bitcoin daily price chart. Source: Coin360
Typically, during Bitcoin’s consolidation phases altcoins pump higher but that has not been the case this time.
While a selection of DeFi tokens and other obscure altcoins have moved higher, the majority of the top-20 coins are in the red today.
This is possibly due to the fact that investors are reluctant to shift funds into altcoins while the Bitcoin price is in such an indecisive position.
Experienced crypto investors know that a strong bullish breakout from BTC could result in altcoin-to-BTC pairs being crushed, whereas a bearish breakdown in BTC price tends to result in BTC and USD altcoin pairs receiving an equally catastrophic pummeling.
A few standouts of the day are, AAVE with a 8.54% gain, Monero (XMR) which moved 5.19% higher and Waves (WAVES) which has rallied 6.23%.
According to CoinMarketCap, the overall cryptocurrency market cap now stands at $566.5 billion and Bitcoin’s dominance index currently at 62.6%.