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It had been news which was possibly too strange for cryptos generally broken reactions. First revealed on Wednesday, the Litecoin Foundation, the nonprofit that develops the software which powers the sixth biggest cryptocurrency, purchased a stake in a very real, non crypto bank. The movement was greeted with applause and doubt, but additionally a stunned feeling of distrust from almost all sides. Was it a sign the crypto is becoming so strong itll soon overturn the rule of banks? . Surely the theory was well represented in the first reactions.
Indeed, the information had imaginations working at full speed, with a few going so far as to believe that the cryptographic industry could be on a bank buying spree. What the companies said. But while others were looking into a potentially far off future, others took a more measured look.
First, there was the information itself. Particularly, the Litecoin Foundation acquired 9.9 percent in WEG Bank AG, a small business with one office in a German city named Ottobrunn. It wasnt all the Litecoin Foundations doing either. Rather, it purchased the shares straight from a brand new partner, TokenPay, that offers blockchain tools for businesses. In May, TokenPay announced itd purchased 9.9 percentage of WEG Bank AG, in the time saying it was going to help the bank develop fintech solutions. The media release also said TokenPay had an oral agreement to deliver another, internationally renowned company into the partnership, and that it was in negotiations with another bank in Liechtenstein.
As it was Tuesday night, the entire internationally renowned partner was Litecoin Foundation, the organizations head Charlie Lee proudly announced. A TokenPay employee afterwards explained that the new partnership will assist the bank ease and accelerate transactions using blockchain, at the same time reducing transaction fees. A measured look. But a few in the area were not quite ready to fantasize. Wasnt the entire crypto point to escape the planet of banks and construct a brand new one, with no banks, no central banks, no old financial infrastructure and rules? . From this viewpoint, the information sounded unsatisfactory to some.
Others believed the news was simply overhyped. When moon? . Yet, others had their sights fixed a little more firmly on the graphs. Whilst the information sounded game changing, it did not lead to any change in litecoins price dynamics. Nonetheless, this is far cry from the cryptocurrencys price highs. Litecoin has been on the downslide since January when it soared to $331, and it seemed the partnership has done little to change that direction, something commentators were quick to point out. As the information shows, you simply cannot please everybody in crypto! Charlie Lee picture via CoinDesk archives. The leader in blockchain information, CoinDesk is a media store that strives for the highest journal...
The recent indictments of 12 Russian intelligence officers by the team of Special Counsel Robert Muller has been dominating headlines. The officers are charged with hacking the computer networks of some staffers on the Hillary Clinton campaign, people involved with the Democratic National Committee, and people involved with the Democratic Congressional Campaign Committee. Deputy Attorney
The post U.S Congressman Sounds Off On Cryptocurrency Industry Amid Democratic Hacking Scandal appeared first on CCN
More academic institutions in Russia are starting educational courses and even postgraduate programs in crypto and blockchain technologies. Three universities will be teaching related subjects like cryptography and digital economy during the new academic year beginning in September. Some of the courses will be conducted in English and with guest lecturers from Europe, India, and the US.
Three Russian universities have announced new courses and majors related to cryptocurrencies and crypto technologies. The educational programs will be offered with the start of the new academic year this fall. They cover a wide variety of subjects, including cryptography, blockchain and distributed ledger technologies, alternative payment systems, digital economy, accounting and management. Some of the courses will be taught in English targeting foreign students, but also Russians seeking career opportunities in the international environment of the crypto space.
The Voronezh State University (...
Chiles Court of Appeals has ruled in favor of Orionx crypto exchange, saying that the state-owned Banco Estado has to reopen the companys previously closed deposit account
Blockchain has already revolutionized a lot of different industries. Now a growing number of digital marketers are using the technology as an aide for a variety of tasks, including to see how many of their ads are actually being viewed by real people. Advertises are drawn to blockchain for a couple of different reasons. Some
The post Leading Advertisers Tap Blockchain to Crack Down on Frivolous Spending appeared first on CCN
In this weeks daily editions of Bitcoin in Brief we
reported about a couple of new exchanges, a major security breach
at Bancor, and why the Binance CEO came out against Ethereum
founder Vitalik Buterin. This weeks
most commented-on article covered the Nobel laureate
economist Joseph Stiglitz, who predicted that cryptocurrencies
will be regulated into oblivion.
On Monday we reported that the American crypto trading market got a little more competitive with a new exchange opening. HBUS, a strategic partner of Huobi, has begun accepting new user registrations by U.S. residents, supporting BTC, BCH, ETH, ETC, LTC, USDT, CVC, DASH and TUSD. Additionally covered, ASIC producer Bitmain has raised up to $400 million in its latest fundraising round valuing the company at $12 billion, and Binance donated $1 million to flood victims in Japan.
The mercurial rise in popularity for the ICO fund-raising model has led many industry observers and evangelists to conclude that the days of venture capital are long gone. Indeed, the market for ICOs has exploded in the past year and a half. During the first quarter of 2018, ICO funding easily outstripped the full year
The post Whats Behind the Multi-Billion Dollar Venture Capital Interest in Crypto? appeared first on CCN
A much-talked-about deal between a cryptocurrency non-profit and a bank saw cheers and jeers this week, and all sorts of reactions in between.
The use of crypto donations by a Venezuelan citizen has shown cryptocurrencies are better than some fiat currencies even though they have been dismissed as too volatile. These donations also highlight the changing perception of crypto away from its murky past on the dark net.
The NANO community has donated almost $5,000 worth to a Venezuelan called Hector. After initially receiving a months worth of salary (0.5 NANO, or $1.20), further donations enabled him to buy 300 kg of food with 61 NANO ($145). The balance in the account now stands at 1,809 NANO ($4,178) which equates to almost 9,000 kg of food.
Hector is choosing to store the donations as NANO instead of his local currency, the bolvar, and has been buying food from a vendor who accepts NANO payments. This showcases how cryptocurrencies in their current state can work better than the worst performing fiat currencies. While volatility is a key issue for the crypto market, it is decreasing and will continue to reduce with an increase in liquidity.
The main issues faced in Venezuela is hyper inflation. The annual rate of inflation is 15,657% and their currency inflates by 167% monthly. Citizens have started making handbags and purses out of the paper notes in order to make some value out of them. The main cause is the governments relentless printing of money.
An analysis by JP Morgan in 2017 showed that only $6 billion had entered the crypto market when the total market cap was higher than it is today. In contrast, Venezuelas GDP is at $330 billion. If the entire economy was using one cryptocurrency, it would not just become a stable currency but there would be no hyperinflation through the printing of more money.
Mainstream media h...
The security breach of a well-funded blockchain project renewed critiques against its technology this week.
Police investigations into the infamous cryptocurrency Ponzi scheme GainBitcoin, estimated at $300 million, are fast making progress as authorities have stated they now possess crucial clues on how the fraudulent organization laundered money. Crucial Clues As reported by The Indian Express on July 13, 2018, police from the Indian state of Gujarat are actively probing
The post Indian Police Find Crucial Clues in $300 Million GainBitcoin Scam appeared first on CCN
The Bank of England (BoE) has been criticized in a UK Treasury Committee during a hearing on Digital Currencies on July 4. Three senior government and banking officials denied the claim, arguing that a taskforce is underway to provide clear guidance over what crypto regulations need to be imposed.
In the hearing, Labour MP Wes Streeting praised Facebook for having to lead the way in banning crypto adverts even though it has recently reversed its position. He argued that private companies are getting on with controlling the market while regulators were falling behind. This led to a defence by all three panel members who said that the BoE is keeping up.
The MP said: There is a concern that regulators are not moving as fast and are not as frontfooted as you could and perhaps ought to be. Is it fair to say that you have been sleeping at the wheel while Facebook has been getting on with banning the advertisements in this space?
Martin Etheridge, Head of Note Operations, BoE, responded by saying it the BoE is leading on the international stage and that there will be vigilant monitoring on a global basis. David Geale, Director of Policy, FCA, recognized some positives in the work by Facebook and Google but claimed they havent been entirely effective because they are still receiving reports of people signing up through those channels.
The committee raised concerns over the daily bombardment of crypto adverts and what the regulators are doing regarding misleading adverts. Geale responded that their usual powers apply which requires adverts to be fair, clear and not misleading. However, Streeting presented an easyJet advert which he claimed had no warnings that funds may go down.
I have just been passed this advertisement from easyJets magazine. Ladies and gentlemen, give your bitcoin wings. Do you see what they did there? There is no warning that products are unregulated and no warning about prices going up and down. In 2017, we have witnessed the bitcoin rise from $1,000 to $19,000. That is a 1,800% increase; that is what they are suggesting there.
Conservative MP Charlie Elphicke raised concerns over terrorist financing and money laundering. David R...
Billionaire Steven Cohen has backed a hedge fund targeted at crypto assets and blockchain-based companies by investing in it. This supports claims made by an employee at Morgan Stanley that cryptocurrency trading will be a shot of adrenaline for hedge funds.
Cohen Private Ventures made an investment into crypto hedge and venture capital fund Autonomous Partners, according to a person familiar with the matter. The fund, owned by Steven Cohen, has previously backed companies run by the hedge funds managing director Arianna Simpson who previously worked at Facebook. It invested in Crystal Towers Capital which she co-founded in 2015.
Autonomous Partners invests in cryptocurrencies, digital assets, and blockchain-based companies. The fund focuses on products that are based around security, scalability, and privacy-enabling protocols. It was founded last year and only has two employees on its LinkedIn.
This move by Steven Cohen, which he declined to comment on, shows an increase in the support for crypto specific hedge funds that will provoke current hedge funds to adapt their models. Recently, a Morgan Stanley employee said that crypto trading will help to revive hedge funds that were on the verge of dying out a year ago.
A source told The ICO Journal:
Hedge funds were on the brink of a slow and painful death up until
about a year ago. This is a double shot of adrenaline for all of
them, or at least those that have the sack to jump into cryptos
head first, he added.
Morgan Stanley is stepping up their move into crypto trading, in competition with Goldman Sachs. More risk-adverse hedge funds and banks are waiting until there is a first mover into institutional trading before they follow suit. This is likely to lead to a snowball effect of investors getting into the crypto space.
Coinbase has already started the ball rolling with its custody offering aimed at institutional investors. It already has ten investors on board with a combined minimum total of $100 million to invest in crypto assets. The Coinbase UK CEO, Zeeshan Feroz, told...
Bitcoin price is preparing for the next move above $6,300 against the US Dollar. BTC/USD could trade higher if buyers succeed in pushing the price above $6,450.
This past week, there was a sharp downward move from well above $6,750 in bitcoin price against the US Dollar. The BTC/USD pair topped near the $6,840 level and declined below the $6,450 support area. The drop was such that the price settled below $6,450 and the 100 simple moving average (4-hours). However, buyers took a stand near the $6,075 level and prevented further slides.
A low was formed at $6,076 and the price started an upward correction. It moved a few points above the 23.6% Fib retracement level of the last decline from the $6,842 high to $6,076 low. However, the upside move was prevented by the $6,360 level. More importantly, there is a key triangle forming with resistance near $6,300 on the 4-hours chart of the BTC/USD pair. Above the triangle resistance, there is a crucial resistance near $6,440, which is near the 100 SMA. Moreover, the 50% Fib retracement level of the last decline from the $6,842 high to $6,076 low is at $6,459. Therefore, the $6,450-60 zone could act as a strong resistance.
Looking at the chart, the price is approaching a key break either above $6,300 or below $6,175. Below $6,175, the $6,000 support may be tested, followed by $5,800. On the other hand, above $6,300, the price will most likely break $6,450.
Looking at the technical indicators:
4-hours MACD The MACD for BTC/USD is slowly gaining pace in the bullish zone.
4-hours RSI (Relative Strength Index) The RSI is now above the 40 level.
Major Support Level $6,000
Major Resistance Level $6,450
Ethereum price is struggling to gain bullish momentum versus the US Dollar and Bitcoin. ETH/USD could make a bullish move as long as it is above $417.
This past week, there were continuous declines in ETH price below the $475 resistance against the US Dollar. The ETH/USD pair declined and broke the $460 and $455 support levels. It traded towards the $415 level and a low was formed at $417.37. Later, there was an upside correction and the price moved above the $430 level. Moreover, the price succeeded in breaking the 23.6% fib retracement level of the last drop from the $497 swing high to $417 low.
However, the upside move was capped by the $440-442 resistance zone. Additionally, a declining channel is preventing gains with current resistance at $439 on the 4-hours chart of ETH/USD. Above the channel resistance, the next major hurdle for buyers is near the $455-457 zone. It represents the 50% fib retracement level of the last drop from the $497 swing high to $417 low. More importantly, the 100 simple moving average (4-hours) is positioned near the $457 level. Therefore, if there is a bullish move above $439, the price is likely to face hurdles near $455-457.
The above chart indicates that the price is still in a bearish zone with a key support near $415-417. As long as ETH is trading above the $415 support zone, there are chances of a bullish break above $457 in the near term.
4-hours MACD The MACD is mostly neutral in the bullish zone.
4-hours RSI The RSI is currently flat near the 45 level.
Major Support Level $415
Major Resistance Level $457
The post Ethereum Price Weekly Analysis: Whats Next for ETH/USD? appeared first on...
Despite seeing bearish price action, with the market moving down by 10%, the past week was still rife with news about cryptocurrency exchanges.
Steven Cohen, a well-known hedge fund manager, recently made an investment into Autonomous Partners, a new hedge fund that is focused on the acquisition of cryptocurrencies and equity in blockchain-related companies.
According to Fortune, Autonomous was launched in December and is led by Arianna Simpson, a venture capitalist, and cryptocurrency proponent. The hedge fund has already secured capital in the low eight digits from investors like Coinbase CEO Brian Armstrong and prominent venture capital firms, like Union Square Ventures and Craft Ventures.
It is currently unclear how much capital Cohen allocated to Autonomous, but it is clear that this move signals the investors interest in the cryptocurrency industry.
Speaking with Fortune, Simpson made it clear that this will be a collaborative and symbiotic relationship between herself and Cohen, stating:
Ive only brought on partners that I think can be very much value-add beyond their capital.
The California-based fintech startup burst into the crypto scene in January, opening a feeless cryptocurrency application for the masses. However, upon the Robinhood Crypto release, users were quick to criticize the support of only Bitcoin and Litecoin, along with the fact that deposits and withdrawals were not supported.
Robinhoods most recent announcement indicates that they have been listening to customer concerns, announcing plans to amend the two aforementioned issues. Firstly, the financial services firm will be adding Litecoin and Bitcoin Cash to the Robinhood roster, which now mirrors the Coinbase Four.
Secondly, Robinhood stated that they are still planning on adding support for coin transfers, potentially integrating a built-in wallet into the Robinhood Crypto application.
Cryptocurrency experts have begun to acknowledge Robinhoods growing presence, with some noting that Coinbase should be wary of what Robinhood can bring to the table.
On June 13th, Coinbase unexpectedly release...
Bitcoin cash price is slowly recovering above $680 against the US Dollar. BCH/USD needs to gather pace above $710 to start an uptrend in the near term.
This past week, there was a sharp downward move below the $740 support in bitcoin cash price against the US Dollar. The BCH/USD pair declined below the $720 and $700 support levels. It traded close to the $650 support area and a low was formed at $662. Later, the price started an upward correction and moved above the $680 resistance. There was a break above the 23.6% Fib retracement level of the last decline from the $770 high to $662 low.
However, the price is facing a tough challenge near the $710 level. More importantly, there is a crucial bearish trend line in place with resistance at $710 on the 4-hours chart of the BCH/USD pair. The same trend line is close to the 38.2% Fib retracement level of the last decline from the $770 high to $662 low. Above the trend line resistance, the 100 simple moving average (4-hours) is positioned near $730. An intermediate resistance is at $720 and the 50% Fib retracement level. It seems like there are many hurdles formed near $710-730.
Looking at the chart, the price must gain traction above the $710 level to start a fresh upward move. If not, there is a risk of a drop back towards $660.
Looking at the technical indicators:
4-hours MACD The MACD for BCH/USD is slowly moving in the bullish zone.
4-hours RSI (Relative Strength Index) The RSI for BTC/USD is currently above the 50 level.
Major Support Level $660
Major Resistance Level $730
The post Bitcoin Cash Price Weekly Anal...
In an ongoing dispute between banks and cryptocurrency exchanges in Chile, an appeals court has finally ruled in favor of one crypto exchange against one of the largest banks in the country. Five major banks have also separately responded to lawsuits against them in court.
The Fourth Chamber of the Court of Appeals of Santiago has ruled in favor of cryptocurrency exchange Orionx against Banco Estado for closing its account, local media reported. The ruling, which orders the only government-owned bank in Chile to reopen the exchanges account, was published on Thursday.
The court decided that the banks action constitutes an arbitrary and illegal action, which constitutes a deprivation of the right protected by Article 19 No. 2 of the Political Constitutio...
My name is Henry Brade. I have been a Bitcoin enthusiast since 2011 and a Bitcoin entrepreneur since 2012. I have been living and breathing Bitcoin every day for the last seven years. This is a follow up to my 2016 article in which I laid out 10 good reasons to buy bitcoin then.
Since I wrote the first article, at a bitcoin price of $580, many things have changed. But some have stayed the same. In this article I lay out 10 good reasons to buy bitcoin now, based on the current fundamentals.
In 2017 we saw one of the strongest rallies in Bitcoin history and it peaked at the current all time high of approximately $19500 per bitcoin before it made the inevitable correction. In the recent months the price has dropped down as much as 70 %. More importantly the value has, once again, settled to higher levels than before the rally.
This is part of the cyclical nature of the growth of bitcoin and often these corrections provide the best buying opportunities. One of my favorite indicators is the so called Mayer multiple which is based on the relation of the current price and the 200-day average price. Right now we are well below the 200-day average price, giving us a Mayer multiple of 0.67. Generally speaking a high multiple can be an indication of a bubble and a low multiple an indication of undervaluation.This graph ends in early 2018 and at the time of writing were at the levels of late 2014 / early 2015
Many legacy systems and also other cryptocurrencies have constant reliability issues. Bank systems can go down, causing issues with online banking and payment cards. Other cryptocurrencies have had serious reliability and security issues in recent years, including Ethereum and newer ones such as EOS. They are not really reliable.
Bitcoin has proven to be extremely reliable. The last time Bitcoin had a major outage was in 2013, when the blockchain was unreliable for a few hours due to incompatible versions of the software. It was fixed swiftly and now for over 5 years Bitcoin has been operational and reliable 24/7/365.
In December 2017 Bitcoin did have an issue which was not an outage but it caused frustration for many users. Ma...
I have published a new 2018 edition of this article.
Litecoin Cash developer Tanner spoke to CCN about the recent 51% attack on the LCC network and how such attacks could be avoided in future. Litecoin Cash was created as a way to launch a refined SHA coin to offer SHA256 miners more options and to create the fairest distribution through an IFO (initial fork
The post Interview: Litecoin Cash Dev on 51% Attacks and The New Hive Solution appeared first on CCN
BTC supporters were elated to discover recently that the Lightning Networks (LN) capacity had spiked by 216 percent in just one day. Some individuals suspected the Build on Bitcoin conference had sparked more LN interest. However, onlookers have found the spike was due to a single node created by the owner of Shitcoin.com. According to LN explorers, the node holds more than 49 percent of the Lightning Networks total funds.
Theres a new Lightning Network node on the block that has BTC supporters in a frenzy trying to figure out why one person has so much money on this nascent network. At the time of writing the so-called LN.SHITCOIN.COM holds 35.24 BTC or $220,000 USD. The node is operated by Andreas Brekken, the owner of Shitcoin.com who has detailed he plans on doing a review of the Lightning Network....
Crypto markets hold steady with slight gains since yesterdays upswing, despite U.S. govts crypto-involving indictment
Pan-African financial services giant Old Mutual has released the 2018 Savings and Investment Monitor survey for South Africa. The report indicates that 38% of the residents and citizens of Africas second-biggest economy who were already aware of the existence of digital assets wished they had put their money in cryptocurrencies. South Africans also expressed positive
The post 38% of South Africans Wish They Had Invested in Cryptocurrencies: Survey appeared first on CCN
From electricity, radio and the internet to crypto. How blockchain became the latest influential technology
The BTC markets are currently attempting to establish a higher low above $6000 after failing to break above resistance at $6800 at the end of June, whilst BCH appears to have bounced off the critical support area of $600 $650 for the second time in 2018. In recent altcoin market action, Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX) have produced gains of roughly between 10% and 20% after Coinbase confirmed on the 14th of June that it is currently exploring listing said markets.
Since gaining 18% from the 29th of June low of approximately $5800 to the local high of roughly $6840 on the 7th of July, the BTC markets have retraced by over 8% during the last seven days with current prices hovering at approximately $6250.
U.S., Switzerland and Singapore ranked as top most favorable countries for running an ICO
Christopher Matta, a former vice president of investment management division at Goldman Sachs, still maintains he would invest his mothers money in bitcoin. A callout box on the TV screen noted Matta believes a return to $15,000 for bitcoin is attainable. Now the co-founder of Crescent Crypto Asset Management, told CNBCs Fast Money in June that
The post Bitcoin Price Could Hit $15,000 This Year: Fmr. Goldman Sachs Exec. appeared first on CCN
Yesterday, the US Department of Justice indicted another
12 mystery Russians, said to be military intelligence agents who,
according to the US Establishment, had somehow attempted to influence the 2016 US
presidential election, which supposedly helped Donald Trump to
defeat Hillary Clinton or so the conspiracy theory
The rap sheet is impressive: DOJ charges range from identity fraud to money laundering conspiracy, however there is no chance that any of the named persons in this indictment will ever see the inside of a US court room (and so the DOJ risks nothing by inventing yet another impressive-sounding Russian bot plot). Charges are as follows:
Coinbase has recently announced that it was exploring the addition of five altcoins, which led to widespread speculation and discussion about the topic.
Coinbases announcement regarding the five altcoins quickly hit headlines in the cryptosphere, with CNBC taking a unique stance on the statement. Brian Kelly, CNBCs in-house crypto expert and baller, recently made an appearance on the Fast Money segment to give his opinions on each of the five cryptocurrencies singled out by the Coinbase statement.
CNBC's Fast Money (@CNBCFastMoney) July 13, 2018
Firstly, Kelly stated that Cardano tokens will most likely be seen as a non-security in the eyes of the Securities and Exchange Commision (SEC), pointing out Cardanos active roadmap and its similarity to Ethereums status as a platform for other crypto assets.
Next, The CNBC analyst brought attention to 0x, a crypto that was long...
Greek court rules to extradite Alexander Vinnik to France on charges of laundering $4 bln in Bitcoin
This week Bitcoin.com reached a milestone of a whopping 2.5 million Bitcoin.com Wallets created in less than a year. Since we started our web portal weve focused on providing people with world-class resources that fit every bitcoiners needs and our simple-to-use wallet is no different.
The Bitcoin.com Wallet was launched on August 25, 2017, just a few weeks after the Bitcoin blockchain split that took place on August 1. Since then our light client that supports both Bitcoin Cash (BCH) and Bitcoin Core (BTC) has become very popular and the amount of wallets created in so little time has been thrilling to watch. We think that the popularity of our wallet is due to the fact it is so easy to use, and you can send bitcoin wherever you are in the world. Not only that but our lightning fast wallet is safe and secure while at the same time allowing individuals to hold their private keys in a non-custodial fashion....
Make sure you check out our previous edition here, now lets go over what happened in crypto this week. Also, make sure you subscribe for this weeks edition of The Bitcoin Podcast by CCN on iTunes or wherever you get your podcasts. Price Watch: Bitcoin fell nearly 8% this week after jumping above $6,800 early this week. The market
The post Coinbase Additions, Enterprise Patents, and Massive Hacks: This Week in Crypto appeared first on CCN
Major crypto exchange Kraken recently released a sarcastic statement in response to the unforeseen decision of Coinbase to list five new digital currencies. As CCN reported, on July 14, Coinbase, the worlds largest crypto exchange and brokerage, announced its finalized plan to integrate Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and
The post Kraken Mocks Coinbase, Sarcastically Claims it is Listing 1,600 Cryptocurrencies appeared first on CCN
The Reserve Bank of India has justified its crypto banking ban to an industry group which has been trying to convince the central bank to ease crypto restrictions. In response, the central bank outlines key areas of concern and upholds its stance on crypto.
Indias central bank, the Reserve Bank of India (RBI), has divulged key areas of concern regarding cryptocurrency. The communication is in response to a representation submitted by the Internet and Mobile Association of India (IAMAI). The document was sent to the central bank during the Supreme Court hearing of IAMAIs petition against the crypto banking ban.
While RBIs response cannot be made public,...
Going back to the early days of Bitcoin, we look at the
contributions of Nick Szabo to smart contracts and Bit Gold.
Decentralizing gets another boost by Augur in the predictions
marketplace with the launch of their platform. Then we see a very
real world example of cryptocurrency solving a real need in
Venezuela to avoid their collapsing currency and allow people to
buy the goods they need to survive. Finally, we see a conventional
exchange, the CBOE, talking to the SEC about getting a bitcoin ETF
license, which would be a real milestone in terms of bringing
cryptocurrency even closer to the masses as an investment
Featured stories by Jimmy Aki, Colin Harper and Aaron van Wirdum
Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here.
Early cypherpunk Nick Szabo had been researching decentralized financial solutions in the mid-1990s and came to propose what he is perhaps best known for today: smart contracts. These (then-hypothetical) computer protocols could digitally facilitate, verify and enforce the negotiation or performance of a contract, ideally without the need of any third party.
The latest installment in Aaron van Wirdums Genesis Files series looks at the contributions of Szabo and recounts how he proposed solutions to some of the problems that Bitcoin would eventually solve.
Blockchain-based predictions platform Augur has opened to the general public, becoming the worlds first decentralized prediction-market platform. It was created by the Forecast Foundation, a not-for-profit corporation whose goal is to build open-source, public forecasting tools.
Prediction markets have long been dominated by the likes of Paddy Power and DraftKings, which are centrally owned, operated and regulated. This centralization causes all kinds of problems, such as restrictions for users in certain regions, higher associated costs to use and limitations on the types of markets that users could create. A key differentiator for Augur is its global and decentralized nature.
Coinbase, the worlds largest crypto exchange, brokerage, and wallet platform has announced its intention to list Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX), causing the price of tokens to surge, while bitcoin has struggled to demonstrate any major price action. The release of the statement of Coinbase was taken
The post Bitcoin Price Struggles but 0x and BAT Surge Upon Coinbase Announcement appeared first on CCN
The Satoshi Revolution: A Revolution of Rising Expectations
Section 4: State Versus Society
Chapter 9, Part 4
Does Your Money Serve the State or You?
The State, in short, subjects people, whereas Society associates them voluntarily.
Two simple litmus tests determine whether money serves the state (organized force) or whether it serves society (voluntary exchanges).
Cryptocurrency is privately issued, and no one is forced to use or to accept it. Crypto is a pure money of societya public money, not one that serves rulers and elites. Indeed, many people use it to escape the corrupt central banking system and its domination of the global economy through fiat money. Control of the economy is the basis of social control.
The state lives or dies through its ability to regulate the flow of wealth within society. This makes cryptocurrency, even in its infancy, a threat to established power that the state addresses by dominating crypto through regulation, through its own monopoly issuance, or through banning it. Each step requires law. And, except for dictatorships, law requires public justification. Even with dictatorships, public justification is usually offered in order to avoid public resistance. The state needs law to destroy crypto, which means it needs justification. If there is not a real need, then a false one must be created.
The appeal to law reveals another and more fundamental difference between state money and that of society. Namely, what is the purpose of law regarding each one?
What is the Purpose of State Law Regarding Crypto?
The alleged illegality of cr...
Weeks after announcing they would be launching an attack on the network of Bitcoin Cash, hacker group Bitpico has disclosed that the altcoin suffers from massive node centralization. A screenshot of the hacker groups discoveries was published with one selected instance showing 98% of the IP addresses were physically located close to each other. In
The post Bitcoin Cash Network Highly Centralized, 49% of all Nodes Run on Alibabas Facilities: Bitpico appeared first on CCN
Shrimpy cryptocurrency portfolio management is a platform that helps investors curate a portfolio with automated investment strategies. With the companys portfolio experience, the Shrimpy team published a study that gives an informative technical analysis comparing two types of cryptocurrency investment methods: rebalance against holding (hodl).
If you have been into cryptocurrency for a while now youve probably heard the expression hodl which is a purposely misspelled word for digital asset holders or hoarders who hold their coins for a long time without spending them. These type of people believe that someday their bitcoins will be worth far more than they are today. Even during the big market dips, hodlers continue to hold. Another form of investment that some cryptocurrency proponents use is called rebalancing which involves a portfolio rebalance only when the asset allocation has dropped below a predetermined threshold. Unlike holding and weathering bearish market action, rebalancing protects investors from being constantly exposed to market dips....
Square, the financial services company started by Twitters co-founder Jack Dorsey, has been seeing its crypto service expand rapidly.
Bitcoin has seen a dismal year so far, to be frank, with the foremost cryptocurrency taking a tumble from $20,000 down to a low of $5,800. Many industry on-lookers expected cryptocurrency-related companies to stutter in a direct correlation with prices, while this was the case for some firms, Squares Cash service has excelled, seeing a surge in interest.
Square, founded by Twitter CEO Jack Dorsey, opened its cryptocurrency service to consumers in January, facilitating the buying and selling of Bitcoin through a mobile application. The fintech firms foray into the cryptocurrency industry was expected, at Dorsey indicated interest towards support cryptos throughout his tenure as the firms CEO. Square Cashs Bitcoin support was quickly met with success, with CNBC reporting that 2018 Q1 saw the firm sell $34.1 million worth of Bitcoin to a wide array of consumers.
CNBCs most recent coverage of the firm points out that Squares success with Bitcoin has continued.
According to Nomura Instinet, a long time Square proponent, statistics indicate that Square Cash has managed to decouple from Bitcoins performance. The brokerage firm analysis has shown that the app is growing nearly three times faster than Paypals move into mobile payments, receiving upwards of four million downloads in May and June of this year. Nomura expects Square Cash to surpass Venmos 31.4 million total downloads figure within the next few weeks.
Dan Dolev, an executive director and analyst at Instinet, gave CNBC a statement regarding Squares Bitcoin play, stating:
Square is more than just a bitcoin play. A lot of people were worried because it went up with bitcoin, but instead its decoupling.
Additional statistics show that the apps download figures have increased by 154% on a year over year scale, not resembling the chart of Bitcoins price in any matter.
The Maltese islands continue to be a hotbed for crypto activity. After the enactment of three new crypto and blockchain laws that set the standard for regulation of these spaces, we have now had the launch of the first two-way Bitcoin ATM by the innovative company MoonZebra. Its situated at the flagship Quicklets offices on
The post Blockchain Island Malta Gets its First Two-Way Bitcoin ATM appeared first on CCN
More than $1.5 million worth of cryptocurrency was seized as part of an anti-gambling operation run by Chinese police during the 2018 FIFA World Cup.
The Chinese state-run news source Xinhua reported two days ago that local authorities first came across the so far unnamed online gambling platform in May. The betting site advertised that it would accept international recognized cryptocurrencies including bitcoin, Ether, and Litecoin, the police launched an investigation that resulted in the seizure.
The investigation team found that the overseas site used a standard online betting model on which it built- in cryptocurrency payment methods, circumventing national regulatory restrictions which allowed the site owners to secure their profits using the native anonymity of crypto.
The investigation found that 330,000 users had accessed the site over eight months which saw an estimated transaction volume of $1.5 billion of which $1.5 million in cryptocurrency was confiscated. Police arrested six organizers and also seized $750,000 in renminbi from their bank accounts.
The Guangdong provincial police released a statement which said that the task force will continue to investigate online gambling and that citizens should enjoy the competition rationally and consciously.
Before the rise in popularity, concern over and regulation of Bitcoin, the last world cup gave birth to a number of online cryptocurrency driven sites aimed at roping in footy fans. Betting on the 2014 cup in Brazil was openly advertised throughout the internet and sites like BitKup and Cloud offered all levels of wagering action, including VIP Rooms and free to enter pools with a grand prize of one hundred BTC.
Bitkup organizers pointed to their terms and conditions and transparency policy which read:
We are definitely not a fraud, let alone a fake, we have spent much time working on this, our goal being to create something different for the World Cup.
Some expected the 2018 Russian hosted World Cup to offer Bitcoins stagnated price position some help. Though online betting via cryptocurrency may have been greatly reduced in the last four years more, businesses have adopted payment options for cryptocurrency.
Billy Bambrough writing for...
Russian intelligence officers accused of meddling in the 2016 presidential elections in the US have used bitcoin to finance their campaign, cover the tracks and obscure their identities, a new federal indictment suggests. You can check the details in todays edition of Bitcoin in Brief. Also in the daily, billionaire Steven Cohen invests in crypto hedge fund, mysterious expert bets that 1 BTC will cost more than the Berkshire Hathaways share in five years, and a leading horse-betting platform now accepts BTC and BCH.
A blockchain-based platform is enabling people to buy and sell digital collectibles of well-known public figures, complete with distinctive artwork and customizable captions #SPONSORED
Tomorrow morning at 10 am EST the eyes of the world will turn to Russia as France and Croatia duke it out in the final game of the World Cup. The last World Cup in 2014 was watched by almost 3.2 billion people and the worlds population has grown by almost half a billion since then.
The Bank of Thailands governor revealed that the central bank is reviewing blockchain tech for cross-border payments, among other applications
Rod Rosenstein, the deputy attorney general of the U.S., ignited a social firestorm when he disclosed the dozen Russian military intelligence officers indicted on Friday utilized bitcoin to finance hacking attempts throughout the 2016 presidential election. As CoinDesk reported earlier today, the defendants named in the indictment are accused of gaining access to computer systems used by the Democratic Party, such as those utilized by presidential candidate Hillary Clinton, so as to disseminate that info throughout the election. Especially, The defendant used bitcoin including funds they mined themselves to cover internet domains along with other services used during their alleged scheme.
Unsurprisingly, the news rapidly spread through social networking, inciting a mixture of disbelief, suspicion and in several cases entertainment from observers. However the story also attracted the attention of a minumum of one member of Congress, who took to Twitter to assert the crypto business needs to step their game up. Rep. Emanuel Cleavers tweet, as may be anticipated, drew swift condemnation from members of the crypto community. Some history: the Justice Department, under the auspices of a special adviser and former Federal Bureau of Investigation director Robert Mueller, investigating whether Russia has sought to intervene in the 2016 elections, as well as when members of U.S.
President Donald Trumps campaign conspired on the interference. Todays indictment was the most recent to be handed down, following actions against others such as social chat Friday focused on other elements of the indictment. While a lot social chat Friday focused on other elements of the indictment along with to have made comments from a not appears of responses, from the dismissive to the downright hostile typically predisposed towards comment on crypto associated stories. Hottest takes. Really, the news triggered a plethora of responses, from the dismissive to the downright hostile. To influence an upcoming meeting between Trump and Russian president Vladimir Putin.
To influence an upcoming meeting between Trump and Russian president Vladimir Putin meant To influence the upcoming meeting between Trump and Russian President Vladimir Putin. There were also some milder takes in the mixture though how mild theyre might depend on interpretation. Lessons to be learned? . Some commentators took the information as a very clear sign that the U.S. Government is serious about utilizing the public network qualities cryptocurrencies as bitcoin to trace transactions. A investor named Simon Mikhailovich noted that the indictment along with that the Federal Bureau of Investigation was able to document every measure of the perpetrators must remind all investors their activities on blockchain are easily traceable and never hidden from view. Others provided a comparable CoinDesk is an independent operat...
Alexander Vinnik, a one-time admin of bitcoin platform BTC-e who was arrested in Greece last year on an international warrant for cybercrime, has been ordered by a Greek court to be extradited to France. The United States and Russia have also sought extraditions of Vinnik. Vinniks lawyer, Ilias Spyrliadis, said Vinnik is appealing the courts
The post Greek Court Agrees to Extradite Alleged Bitcoin Fraudster BTC-e Admin to France appeared first on CCN
The weekend has brought more declines in crypto land for all but a handful of altcoins. Markets have dropped once again falling below $250 billion as the bears maintain control. Bitcoin has remained level over the past 24 hours trading at $6,240, Ethereum however has dropped 1% to trade at $435 at the time of writing.
All of the altcoins are in the red marginally this Saturday, the only ones showing gains are the five that Coinbase mentioned in its recent announcement. VeChain has taken the biggest hit in the top 25 dropping 12% to $1.86. VEN has lost 25% over the past week from $2.46 this time last weekend.
Both Cardano and Stellar have made gains following the Coinbase blog post mentioning the possibility of them being listed. ADA is up 5.7% to $0.135 however it has been hammered over previous months losing 65% since the beginning of May when it was trading at $0.38. Likewise with XLM which is up 7% on the day to $0.20, over the week it has remained at this level but since the beginning of May Stellar has lost 54% from $0.46.
Zcash is the third coin in the Coinbase list and it is trading 10.4% higher this morning. ZEC is currently trading at $174, the same price as it was this time last week. Over the past month Zcash has declined 13% and since mid-May it has lost 54% from $375. Decentralized exchange protocol 0x has enjoyed a pump of 16.6% on the news which puts it at $0.947 at the moment. This is slightly lower than last weekends price and way down from $1.95 where it was in mid-May. The final altcoin on the list was BAT which has pumped 21.8% on the announcement. Basic Attention Token is currently trading at $0.325, which is 25% higher than its level this time last week.
These five altcoins are likely to see more pumps, and possibly dumps, leading up to the time when Coinbase does actually list them, or decides not to. Those with insider information will probably have benefitted from the predictable spike that these coins have had over the past few hours.
Generally though crypto markets are in decline at the moment with a total market capitalization fall of just below one percent on the day. Market cap is currently around $247 billion and trade volume stable at just below $11 billion. Further losses could be imminent if Bitcoin falls below $6,000.
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
W12 offers a completely new approach to the development of blockchain technology, smart contracts and the crypto economy, the adoption of which can massively affect existing traditional infrastructure in the very near future. Smart contracts are proving effective in the crypto community by eliminating the problem of mistrust between parties in simple operations, but their application in the real world is severely limited. The transition to a new decentralized digital economy requires a reliable and scalable infrastructure that facilitates the rapid implementation of blockchain technologies. In W12, we created a protocol that extends the application of smart contracts, ensuring their introduction into the traditional economy and eliminating the mistrust between all parties of the deal.
The main problem in the traditional economy: the parties do not trust each other. Without trusting one another, in order to settle disputes and make payments, the parties involved are compelled to trust traditional institutes on behalf of the state, and frequently do not have access to alternative solutions. The existing infrastructure is extremely expensive to use, slow and rarely transparent.
The W12 Solution: the creation of a decentralized blockchain infrastructure where the parties do not need to trust each other, and any controversial issues are resolved transparently, quickly and at a lower cost.
The problem of existing smart contracts: without the entry of verified information from the external world to the blockchain, the number of use cases for smart contracts is extremely limited.
The W12 Solution: A protocol that allows you to create smart contracts with the necessary logic for their execution without programming skills and a decentralized oracle network confirming the execution of milestones of the contract and the transfer of funds to the other party.
The oracles in the dec...
The revelation bitcoin may have played a role in one of the biggest U.S. elections scandals has crypto supporters and mainstream pundits talking.
ADA is the top performer in the last 24 hours adding an impressive six percent. That injection of momentum at key support means there is a revival happening and traders can take advantage of this surge. CoinBase is huge for ADA because any addition means exposure to 13 million US customers keen on adding ADA to their portfolios if not hodling.
Its interesting times for cryptocurrency and more so momentous for Cardanos ADA following the intentions of CoinBase to list them at their exchange. Coin listing at this American exchange is always huge news for coins. Already, we have seen what happened to ETC valuation shortly after CoinBase announcement. Prices soared lifting off $12 like a rocket.
Today we are announcing that were exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f
Coinbase (@coinbase) July 13, 2018
That seems to be happening to ADA too. Of course it was a nice coincidence to dole out such positive news. However, we must also consider some few takeaways from CoinBase. First, its not a guarantee that they will be adding them since this is purely exploratory and will have to look into necessary regulations controlling the coin and banks facilitating purchase.
Please note that we are not guaranteeing the listing of any of these assets. We may list them with partial support, or only in specific jurisdictions. In particular, some assets may become available in other countries before the US.
Coinbase (@coinbase) July 13, 2018
Thats not enough; CoinBase will take a cautious stand. Even if there is listing, and some coins won...
The head of the Bank of International Settlements briefly became the butt of crypto Twitter trolling last week after issuing new comments on the tech.
One of Australias oldest financial institutions, Bank of Queensland, has prohibited the use of home equity loans for virtual currency speculation. The move has been attributed to concerns pertaining to the growing regulatory oversight of the cryptocurrency sector in Australia.
Bank of Queensland has banned its customers from using loans that are leveraged against home equity for the purposes of cryptocurrency speculation due to concerns pertaining to the increasing regulatory oversight of cryptocurrency activities in Australia.
Contracts issued by Bank of Queensland will now caution prospective borrowers any loan purpose that involves the acquisition of or usage of cryptocurrency is unacceptable. The Australia...
Following great delays and great fanfare, Augurs decentralized prediction market has launched. One week on, an examination of the sort of wagers its attracted shows the ways in which the Ethereum-based project can be harnessed as well as the potential hazards. How decentralized is Augur and, if push came to shove, could the platform prove that it is truly censorship resistant? The fate of Augur may hinge on the outrageousness of the predictions its users place.
Long before the ICO meme hit peak velocity, there was Augur. The project held its crowdsale back in 2015, raising $5 million, a figure that looks modest by todays standards. Tokens were issued at $0.6 apiece, which is a snip given their current price of $29 and Augurs native REP token has reached more than twice that price at its peak. Building a decentralized prediction market powered by smart contracts is as difficult as it sounds. Even so, no one expected it to take until mid 2018 for Augur to launch.
As of last week, Augur has been live, enabling the masses to post predictions and to sell shares in the outcome of the event coming to pass. The higher the price of the share, the likelier the particular outcome is. Officially, Augur relies on the wisdom of the c...
Coinbase is considering the addition of five new assets to its exchange and will negotiate with local banks and regulators to add them to different jurisdictions
The South Korea Blockchain Association has approved 12 crypto exchanges including Bithumb and UPbit over the past week, of having adequate security measures and internal management systems in place. Various local publications reported that Bithumb, UPbit, Gopax, OKCoin Korea, Korbit, Coineone, CoinZest, CPDAXX, HanbitKor, Huobi Korea, and NeoFrame, and DexKor were approved by the South
The post All Crypto Exchanges in South Korea Meet New Requirements, New Money to Come in appeared first on CCN
New York is seeking to foster growth in its cryptocurrency mining sector, with the New York State Public Service Commission (PSC) approving new electricity rates for Massena Electric Department. The new provisions will facilitate high-density load customers, as such cryptocurrency companies accessing individual services agreement tariff[s], including protect[ion]  from increased supply costs.
A PSC releas...
Cryptocurrencies usually see a price increase after being added
to an exchange, but with Coinbase the increase could be meteoric
even when nothing is actually being added.
The exchange announced Friday it was looking into potentially adding cardanos ADA token, basic attention token, leading, zcash and 0x to its platform, and each one of the tokens instantly saw double-digit percent price spikes. The increases are much more fascinating considering Coinbase noted that itcan not ensure theyll be listed for trading
Notably, the exchange also promised thatwere making this statement at Coinbase and to the general public at the same time to remain transparent with our customers about support for future assets, maybe in reference to past allegations of insider trading.
While majority of the recorded tokens have been falling victim to the bearish sentiment of the cryptocurrency market over the last couple of days, BAT has been looking especially bullish.
Peak +13.94 percentage from daily low
Basic Attention Token (BAT)
Peak +27.75 percentage from daily low
Peak +26.67 percentage from daily low
Peak +12.39 percentage from daily low
Peak +33.58 percentage from daily low
The exchange added a disclaimer that taxpayers in some specific
area may or might not be able to trade a specific token, stating
thatregional support depends on a case-by-case analysis that looks
to legal, compliance, along with other factors which are linked to
In several cases, you need to expect particular assets to be available in other jurisdictions before arriving to the U.S.
The exchange does plan to look at different factors, including the legal and compliance aspects of offering a specific token for trading, before launching support, in accord with the specific article.
We only plan to launch asset that are compliant with local law, it noted.
Coinbase application picture via PixieMe / Shutterstock
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, first and AMP throughout the time of writing.
The leader in blockchain information, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Government of Bermuda introduces ICO regulations that require issuers to provide detailed data to conduct an ICO
Of all coins, Stellar Lumens performance stands out. It is one of the top performers in the market gaining eight percent in the last day. IOTA is also following suit. While IOTA prices are well balanced and trading above 90 cents-our sell trigger line, any up thrust above $1.1 and $1.3 would be morale boosting for buyers.
Lets have a look at these charts:
Everipedia describes itself as the next generation encyclopedia that is rebuilt for the modern age. Its a for-profit organization and a fork of Wikipedia with more than six million articles on its data base. What stands out is that is free from ads and free for everyone to use under the creative common. Everipedias IQ tokens are now available at BitFinex.
Everipedia (IQ) has been distributed to Bitfinex users.
Bitfinex (@bitfinex) July 13, 2018
Following their distribution by BitFinex, IQx-the native token for Everipedia-is now tradable against the USD and EOS. Because of this demand, its up 120 percent.
In the last day or so, EOS prices have been shifting between stable to bearish and is down one percent at the time of press. Now, because prices are trading below $7,...
Twelve officers of the Russian military received a charge of money laundering for attempting to use bitcoin to hide their role in influencing the 2016 U.S. presidential election. It all goes back to July 2016 when the Democratic National Committee (DNC) announced it had been hacked by two Russian hacking groups, going by the names
The post Russian Agents Who Hacked DNC Emails Thought Bitcoin Would Keep Them Anonymous appeared first on CCN
New York-based R3 consortium is reportedly considering to launch an initial public offering
Collectible game presents its first in-game wallet for making money on collecting evolving creatures #SPONSORED
The Texas State Securities Board has recently taken emergency action against a network of fraudulent crypto-related firms
As part of an ongoing criminal case that has drawn international attention, a Greek court has agreed today to extradite Russian cybercrime suspect and ex-Bitcoin BTC-e platform operator Alexander Vinnik to France.
The move comes after Greek authorities decided exactly where to send Vinnik, who is also wanted on criminal charges in the U.S., specifically for 21 counts of money laundering, and Russia, for fraud.
Vinnik, who was arrested last year in Greece on a U.S.-issued international warrant, was the operator of the online Bitcoin platform BTC-e.
According to authorities, Vinnik used his coins to skirt the law, launder money, and defraud thousands of victims. Moving forward, his lawyer Ilias Spyrliadi is appealing the Greek extradition decision. He has denied doing anything illegal, and remains jailed in Greece pending final decisions on the matter, according to the Tampa Bay Times.
French authorities are charging Vinnik with cybercrime, money laundering, membership in a criminal organization, and extortion. The extradition is somewhat surprising as, previous to this move, the Greek Supreme Court had approved his extradition to the U.S. to stand trial.
And theres more. Earlier this month, Russian authorities sent a request for Vinniks extradition to the country to face cyberfraud. These developments have made this case into something of a tug of war between Russia, France, and the U.S., who are all vying for him to face charges in their jurisdictions.
His lawyer Spyrliadis said that a European warrant would usually take precedence over others, putting France first in line to prosecute Vinnik. Spyrliadis added that in practice it will be up to Greeces justice minister to decide where he ends up.
Back in July 2017 Vinnik was originally arrested in Greece, when the U.S.s Financial Crimes Enforcement Network (FinCEN) announced a $110 million penalty...
Tether has announced the appointment of Leonardo Real, a former anti-money laundering (AML) quality control manager at Bank of Montreal, as the companys new chief compliance officer (CSO). The announcement comes just one week after Phil Potter, one of Tethers directors, announced that he will be leaving sister company, Bitfinex.
Leonardo Real, former AML control manager of Canadas fourth-largest financial institution, Bank of Montreal, has been announced as Tethers new chief compliance officer.
A press release issued by Tether has stated that Mr. Real has been brought in to assist in se...
A cryptocurrency conference has asked controversial industry personality John McAfee to cancel his live appearance at the event, citing a number of credible death threats against the cybersecurity pioneer. According to statements posted on Twitter, McAfee was scheduled to speak in-person at the Blockchain World Conference this morning but was asked by the event organizers Continued
The post Death Threats Allegedly Force John McAfee to Cancel Conference Appearance appeared first on CCN
Nonprofit organization PoWx has
launched this week with the goal of boosting the idea behind
proof of work (PoW) through more innovative algorithms. The company
is seeking to decentralize Bitcoin mining and make it more
accessible to consumers through a new technology that executives
have dubbed optical PoW a new type of hardware that utilizes a more
advanced and energy-efficient form of laser technology as the
cornerstone of mining.
Bitcoin and cryptocurrency mining is usually off limits to those who cannot afford the expensive mining computers and equipment. In addition, miners are usually stuck dealing with high energy bills and excessive consumption of electricity. It is estimated that approximately 0.15 percent of the worlds energy is used to mine cryptocurrency.
This is where optical PoW comes into play. PoWx founder Michael Dubrovsky says the technology can alter Bitcoins current algorithm to make mining more decentralized and that the softwares advancements could make the mining arena healthy enough and scalable enough.
The idea for optical PoW arose last year. Dubrovsky says concern was growing that the mining space would eventually become more centralized. Dubrovsky and the PoWx team specifically point their fingers at Bitmain, the Chinese mining giant largely responsible for building and supplying most of the necessary equipment to power Bitcoin mining.
Speaking with Bitcoin Magazine, Bitcoin Core and Bitcoin Knots developer Luke Dashjr said hes all for optical PoW and believes the mining scene as it stands could damage the future of cryptocurrency.
Bitmain has compromised Bitcoins security, so changing to a new proof-of-work algorithm is necessary to secure the network again, he commented. One problem that enables mining centralization is that electricity costs are lower for large corporations than they are for ordinary users. Optical PoW claims it can eliminate this problem, and since it is an entirely new kind of technology, it also eliminates almost all of Bitmains advantages in trying to monopolize a new algorithm.
If the new algorithm passes, mining chips could become less expensive, thereby potentially increasing the level of decentralization. In addition, optical PoW would make mining more efficient, which would allow miners to extract more coins in less time, giving them the opportunity to compensate for respective energy usage.
Bitcoin, in its nine years of existence, has steadily gained
traction, defining itself as a new digital gold. Early adopters of
this technology have shown excitement for the potential of this
inflation-proof sound money. With steady increase in value over the
years, this new invention of money has established its position in
finance. The gold rush pushed by the price explosion reached its
peak at the end of 2017. Halfway into this year, bitcoin has moved
into a bear market. As the price plunged, followed by exchange
hacks and speculators leaving the space, the rally quieted down.
Now that the fever has cooled off, a narrative that runs quietly
behind the scenes can begin to emerge.
For many veteran crypto enthusiasts, Nick Szabos paper Shelling Out: The Origins of Money has become a guide for a rite of passage deep into the world of Bitcoin. In this essay published in 2002, Szabo, a legal scholar and cryptographer who invented bit gold, shared his odyssey of discovering the roots of money in the ancient past. Building on the insights of evolutionary biologist Richard Dawkins, who saw money as a formal token of delayed reciprocal altruism, Szabo found in the precursor of money the beginning stage of developing tools for cooperation.
This astute scholar of money learned how these primitive forms of money, among other functions such as inheritance and insurance against starvation, gave humans a mechanism to deal with conditions in a much more civil way, at a time when hostility and distrust among tribes were strong. He noted how wealth transfer was used to carry obligation and rights, and enforce contracts such as for purchasing mates and for entering another bands territory to hunt and gather goods, as well as a way to dispute resolution and mitigate wars and cycles of revenge.
At its origin, money played a role in tracking favors and as an enforcer of reciprocation. It performed as a vehicle to civilize our beast-like nature, taming and guiding it to carry cooperative and social behaviors. This step toward civilization was taken by Native people in the continent of North America. Indigenous peoples used wampum to derive value and as a medium of exchange, utilizing it to facilitate civil activities.
For the Iroquois, the idea of money as a tool for delayed reciprocal altruism was embodied in the wisdom of a peacemaker who came at a time of great turmoil for the Indian nations. When a civil war broke out and five nations were fighting, causing death and destruction, the legendary peacemake...
Coinbase announced they might add five more cryptocurrencies to their platform, and the market reacted with glee.
The cryptocurrency market experienced a slight bump on Friday, but five altcoins managed to break away from the pack, bolstered by the announcement that cryptocurrency exchange and brokerage giant Coinbase is exploring adding support for them to its several platforms. Earlier today, the San Francisco-based Coinbase announced that it is engaging with discussions with banks Continued
The post Cryptocurrency Prices Soar on News Coinbase Is Exploring Adding Five New Assets appeared first on CCN
Coinbase has just unexpectedly announced that its team is looking into making the addition of five top altcoins into Coinbase services.
The San Francisco-based exchange took to Twitter to announce that it is exploring options to add several crypto assets, namely Zcash, Cardano, and Stellar Lumens.
Today we are announcing that were exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f
Coinbase (@coinbase) July 13, 2018
A Medium post noted:
We are exploring the addition of several new assets, and will be working with local banks and regulators to add them in as many jurisdictions as possible.
The crypto exchange pointed out that the addition of these assets to Coinbase services will require additional exploratory work, adding that there is no guarantee that the exchange will support these assets in the future. This process is likely to be different than the ongoing process of adding Ethereum Classic, as the individual blockchains of Zcash, Stellar, and Cardano may prove to be technically difficult to fully integrate into Coinbase services.
The blog noted that even if Coinbase was to integrate these altcoins, the features supported may not be all-encompassing, due to a potential for technical and regulatory constraints. The post stated:
Our listing process may result in so...
Users of WEX, the cryptocurrency exchange built on the ashes of BTC-e, are reporting withdrawal problems.
One of the worlds biggest cryptocurrency exchanges has announced its intention to support more coins. In an official blog post, Coinbase announced that it is exploring the addition of several new assets and currently working with local banks and regulators to make them available in as many jurisdictions as possible. Coinbase is looking to add Continued
The post Coinbase is Exploring Support for Cardano, BAT, Stellar, Zcash, and 0x appeared first on CCN
The blockchain technologies research and development firm, Nchain, has acquired three new patents that have been issued by the European Patent Office. The companys latest intellectual property invented by Nchains chief scientist, Dr. Craig Wright, cover digital rights management using blockchain.
Nchain says that the Bitcoin Cash (BCH) network has the ability to disintermediate the current intermediaries within our financial transactions. Digital rights management allows creators of digital content the ability to ensure that they are paid for their work. Nchain asserts that the three new patents issued by the European Patent Office will help bolster digital rights management. Furthermore, the patents follow two other EPO grants acquired by Nchain on April 11 and June 20 which apply to BCH deterministic key generation, and a blockchain registry and automated management method.
Inspired by the success of the CryptoKitties game, Major League Baseball are launching their own range of digital collectables on the Ethereum blockchain. MLB Crypto Baseball will be focused on trading one-of-a-kind digital items linked to specific moments in recent games.
Major League Baseball have announced their intention to enter the cryptocurrency space. However, unlike other companies that are moving into the realm of digital assets, they wont be directly accepting payments in cryptocurrencies. Instead, they plan to launch a digital collectable game akin to the hugely successful CryptoKitties that debuted last year.
Yahoo Finance spoke with the leagues executive vice president of gaming and new business ventures, Kenny Gersh. He told the publication about the move, as well as the decision to not accept cryptocurrency payments for various MLB products:
We talked a long time ago about Bitcoin and whether we should accept it as payment for MLB.tv and some of our other products, and we opted not to. At the end of the day we decided that isnt our business, were not in the speculation business. Were in the business of delivering baseball to fans. So this game is a more interesting intersection of blockchain technology and what we do.
The new game will be titled MLB Crypto Baseball. It will involve players buying and selling digital avatars. Each of these will be inspired by various exciting moments from recent games. The decentralised application is due for release later this summer with help from developers at Lucid Sight.
According to Gersh, the previous success of CryptoKitties has directly inspired the title from the planets premier baseball league:
We were already talking to Lucid Sight around the time that CryptoKitties first came out, and then CryptoKitties sort of validated it a little bit more.
MLB arent the only sporting interest moving into the cryptocurrency space. Last month, NewsBTC reported on the NBAs Sacramento Kings plans to create a cryptocurrency mining initiative in their stadium that will directly benefit local charities.
Gersh hopes that the digital trading game will rekindle excitement for baseball amongst a younger audience. According to Yahoo Finance, the league are currently experiencing a lull in the numbers of peo...
As some retail investors are leaving crypto, large institutional players are moving in, as they see value around the current price levels. Do the charts support their sentiment?
Enterprise blockchain startup R3 is the latest industry firm to hold high-level discussions about taking its business public. Wall Street-Backed R3 Eyes Public Offering Citing anonymous sources familiar with the matter, Bloomberg reports that the New York-based firm has approached advisers holding an initial public offering (IPO). The sources also said that potential buyers have Continued
The post Enterprise Blockchain Consortium R3 Mulls IPO, Outright Sale: Report appeared first on CCN
The Tezos Foundation is launching a grant program to encourage its community to participate on its platform starting next month.
Despite worries about cryptocurrency mining from the impact that it can have on the environment to the potential impact it can have on the rates for other local electricity consumers the state of New York has approved a bid to provide cheaper electricity to miners.
Yesterday, as reported by Bloomberg, state regulators approved a motion that would create a new rate structure specifically for cryptocurrency miners looking to negotiate a better deal on electricity.
Massena, a town in Upstate New York, will allow its municipal utility to review contracts on an individual basis for miners, which will serve to protect other residents from an increase in rates from grid usage.
The news is surprising as it comes after a decision in March that saw 36 state municipalities increase rates for individuals and firms mining the coins.
Because of the accessibility of cheaper hydro-electric power, New York has become something of a hot spot for mining. Other locales, from Iceland to Quebec to China, are also attracting miners, but locals in these municipalities are concerned that they will soak up low-cost hydropower supplies and raise power bills for everyone. This has left local governments including New Yorks trying to strike a balance between attracting new business and protecting residents from rising energy costs.
We must ensure that business customers pay a fair price for the electricity that they consume, John Rhodes, chair of the New York State Department of Public Service, said in a statement. However, given the abundance of low-co...
This week Bitcoin.com is thrilled to announce a new platform called Developer.bitcoin.com. The web portal is dedicated to Bitcoin Cash (BCH) software developers and provides them with a wide variety of tools that can supercharge their workflow. We want the Bitcoin Cash network to change the world for the better and Bitcoin.coms suite of developer applications allows anyone to produce world-class platforms within this innovative ecosystem.
Bitcoin.com is all about the power of economic freedom and we believe Bitcoin Cash (BCH) has the power to change the world. Over the past few months, BCH development has been exponential as there has been a slew of new apps like wallets, social media platforms, SMS apps, tipping bots, coin shufflers, torrent software, and so much more. At Bitcoin.com we want to keep the passionate flames of Bitcoin Cash development going strong so weve decided to launch a massive development web portal with a suite of tools that can help bolster the next great Bitcoin Cash project.
Major League Baseball is turning to blockchain to develop his own fanbase. MLB announced Friday that its partnered with Lucid Sight, a blockchain startup based in LA, to launch a dApp game on ethereum late this summer to allow baseball fans to interact with their favourite moments during the games, Yahoo Finance reported. The game, MLB Crypto Baseball, will work similarly to CryptoKitties, which has a direct impact on baseball teams new game, based on MLB executive VP of gaming and new business venture Kenny Gersh. We were already speaking to Lucid Sight around the time that CryptoKitties first came out, Gersh said.
And after that CryptoKitties kind of confirmed it a little bit longer. To be able to play this game, users should buy ether and move it to MetaMask, probably the most famous ethereum browser wallets. After that, they can trade electronic avatars tied to certain moments in latest games while perhaps earning rewards and stickers. MLB has seen attendance at games fall this season and it expects that this game can draw a broader audience. Gersh clarified: thats 100 one of the strategic aims of this initiative. Collecting items related to your group, engaging with your staff in a brand new way.
But I do think individuals will open up Coinbase accounts, purchase some ether, and move it to MetaMask, so as to collect these things theyll like so much, he said. This isnt the very first time pro sports are experimentation crypto and blockchain technology. Sacramento Kings, a mens basket ball team in the NBA, stated in June that itll mine ethers for charity purposes. MLB image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
A group of Russian military intelligence officers indicted on Friday as part of ongoing investigation into Russian intervention from the 2016 U.S. Presidential election allegedly utilized to finance its operations. From the just released indictment, prosecutors assert that the 12 named intelligence officers hacked pc networks and e-mail accounts owned and utilized by the U.S. Democratic Party, including the presidential campaign of Democratic candidate Hillary Clinton. The details were included under the charge of conspiracy to launder money. In accordance with the indictment, the defendants conspired to launder the equivalent of $95, 000 via a variety of transactions structured to capitalize on the perceived anonymity of cryptocurrency like bitcoin. .
In an effort to cover their efforts around the world. The defendants paid for it with cryptocurrency, deputy U.S. Attorney General Rod Rosenstein said during a media briefing. Even though the defendants allegedly utilized other monies, such as the U.S. Dollar, They basically used bitcoin when buying servers, registering domains, and making other payments as part of the hacking action. . Payments are stated to have been made to firms from the U.S., with a few of those funds being tracked to some bitcoin mining operation. The indictment explains: Additionally to mining bitcoin, the Conspirators purchased bitokoyn via a wide range of means designed to obscure the source of the funds.
This included buying bitcoin via exchanges, moving funds via other electronic currency, and using pre paid cards. They also enlisted the assistance of more than one 3rd party exchanges who eased layered transactions through electronic currency exchange platforms providing heightened anonymity . The defendants allegedly used several dedicated e-mail accounts to track bitcoin transaction info and facilitate obligations, the release added. Further, the indicted officials transferred a bitcoin with the same computers they utilized in hacking different email accounts. The indictment is the most recent to come out from the ongoing and explosive investigation into Russian election and the possible participation of the members of the presidential campaign of the U.S.
President Donald Trump. Robert Mueller, a former FBI director, was appointed in May 2017 to lead the special counsel investigation, that has drawn the wrath of Trump, who has vehemently denied any collusion on election. Rod Rosenstein picture via DOJ. The leader in blockchain information, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent subsidiary of the Digital Currency Group, which invests in cryptocurrency and blockchain startups.
The U.S. Department of Justice charges 12 Russian intelligence officers with using cryptocurrency mining to fund their interference in the 2016 U.S. presidential elections
Former Bitcoin proponent-turned Bitcoin Cash advocate Roger Ver has published a video in response to the criticism he received over a now famous outburst he had during a debate with Blockstream president Samson Mow. The incident referred to occurred at the Deconomy Conference in Korea this April.
Ver received immense criticism from the Bitcoin community for stating that babies are dying thanks to a lack of economic freedom around the world.
In his video response, he admits that he has been wanting to make such a retort for a long time. He goes on to blame the mockery he received on either a lack of compassion from those hurling insults or a lack of understanding of economics.
The video itself largely draws on the work of a blogger at Yours.org who goes by the name of Solitude. Ver focuses on some research done by Solitude into infant mortality rates of nations who have various levels of economic freedom. The figures do suggest that people die as a result of a lack of economic freedom.
However, the evidence provided is hardly conclusive. There are a myriad of factors that influence life expectancy and infant mortality around the world. That said, Im also not about to delve deeply into that particular debate as it would be much too lengthy for such a news article.
A much more relevant debate is how each of the two approaches to scaling Bitcoin plays out over the longer term and whether this promotes or restricts the usability and security of Bitcoin. Does a blockchain with enormous blocks really promote economic freedom when the cost of running a node increases dramatically in tandem with the size of the blocks themselves?
The scaling solution of increasing the size of the blocks seems like it would invite larger problems down the line when only a handful of companies can afford to run mining equipment. This would serve to further enrich a minority and would lead to a potential monopoly over the direction that the protocols development takes. Fewer miners on the network is certainly not in line with Satoshis vision.
Of course, the large fees that caused the split in the Bitcoin last year were unacceptable if Bitcoin is to be used a means of payment. However, creating a way to scale Bitcoin in a way that promotes decentralisation whilst maintaining the robust security model of the network is much tougher than simply increasing the blocksize repeatedly. It is a problem that consumes the minds of some of the most intelligent developers on the planet.
If the necessary computing components were cheap and abundant enough for literally anyone around the world to r...
Hey folks, hows it hanging? As price has been moving sideways for the past few months, I decided to do an exercise and wonder what variables play a massive role in price changes. Not only that but make a random prediction of Bitcoins price at the end of 2018. My strategy is simple: to analyze
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
As many of new public chains became available on mainnet this year and openly compete with blockchain product like Ethereum , 2018 has been known as the first year of public chains. Public chains have been drawing lots of attention in blockchain markets. DBXChain might be a main competitor to Ethereum in the near future.
DBXChain, released by an internationally well-known public chain research team named DBX Foundation, is a value-based ecosystem of data based upon blockchain. This new value-based ecosystem is a decentralized data community that provides a platform for users to explore and exchange data. It provides a safe data exchange process and users are able to own their data rights. This new ownership with data is based upon blockchain technology.
Original DDPoS optimizes the consensus mechanism of blockchain
DDPoS is a new consensus mechanism that is created by DBXChain for the first time in the world. It helps resolve oligarchy and security issues from DPoS consensus mechanism by EOS. As everyone knows, DPoS consensus mechanism is similar to a shareholding system and its problems are quite obvious: first, it has a low voting rate.
More than 90% shareholders never voted. It is because it takes
time, energy and skills to vote, which are what most investors do
not have. Additionally, there are many challenges dealing with bad
nodes. If interfering nodes cant be checked during a community
election, it will put web security at risk.
Then, how does DDPoS...
Twelve Russian officials indicted for hacking into Democratic National Committee email accounts allegedly used cryptocurrencies, the DOJ announced.
Bitcoin prices bounce off weekly lows of $6,180 to hold support above $6,200
When it comes to cryptocurrency, it seems that there are always
two sides of the (bit)coin.
On the negative side, theres everything that can go wrong. For example, the unpredictable value swings can cause coin holders, savvy and suckers alike, to suffer life-changing losses. An exchange can get hacked and attacked, allowing hard-won earnings to vanish into the coffers of criminals without a trace. The blockchain, in all its beauty, is gobbling up power as it grows, raising questions about its environmental impact as it drives decentralization.
Podcast hosts and their guests, however, have a tendency to look on the bright side. Thats understandable, because every day that cryptocurrency and its users evolve, the more possibilities unfold. In the financial alternate universe that is crypto, the points of light are consistently attributed with the power to outshine the dark matter.
In the recently-aired Episode 24 of What Bitcoin Did, host Peter McCormack interviewed the team of Max Keiser and Stacy Herbert, who together host their own financial show The Keiser Report. Its a duo that seems determined to see the best in bitcoin, seeing as how both of their careers are driven by disillusionment with the financial world.
They are not just vocal in their criticism but also active in it. Keiser once called JP Morgan Chase "the biggest financial terrorist on Wall Street" backing those words up with a campaign to crash it by encouraging people to buy silver, which would leave JP Morgan with a significant short position. He and Herbert make it a point to call out big banks unethical practices as well as governments fiscal mismanagement.
The Keiser Report was an early pioneer of Bitcoin reporting, with their first coverage on the topic dating back to 2011. Listening to McCormacks interview of the two, its clear why they latched on early to...
A pro-cryptocurrency activist group trolled Slovakias central bank in spectacular fashion this week to protest local regulators hostility toward cryptocurrency companies and traders. Activists Project Bitcoin Logo onto National Bank of Slovakia The Bratislava-based Paraleln Polis which among other endeavors operates the Cryptoanarchy Institute on Thursday published a video depicting its latest act Continued
The post Activists Shine Bitcoin Logo on Slovakias Central Bank to Protest Hostile Regulations appeared first on CCN
Leshi Internet, a Chinese video streaming provider with a history of financial problems, Is being contested by the Shenzhen Stock Exchange over its subsidiarys move to the crypto space. Lerong Zhixin, a wise Television maker owned by Shenzhen recorded Leishi, announced a plan on Wednesday to partner with a blockchain startup to launch a video streaming console which may be employed to mine cryptocurrency. At a launch event this week, the subsidiary said that since the new product incorporates a dispersed networks, users will be rewarded with tokens by allowing their idle broadband to be shared with some other users connected to the blockchain.
After the statement, The Shenzhen Stock Exchange that is administrated by Chinas Securities Regulatory Commission delivered Leshi a formal enquiry on Friday, asking for details about the firms blockchain resources and workforce, and also its partners technical capability. The exchange also contested firm over possible regulatory issues about the procedure for cryptocurrency mining in China. Where the questions are leading, efficiently, Is to determine if Leshi really has the technology to provide the promised product or its benefiting from blockchain hype to boost its stock price. Since the first statement, Leshis share price increased by just as much as 5% during the last two days.
Even though the profit might not be as noteworthy as past comparable Cases of companies seeing stock spikes after pivots to blockchain, the news comes at a time when Leshi is recovering its fiscal well-being after decades of debt and financial issues. Launched in 2004 as a video streaming service, Leshi made a series of efforts to expand in the last few decades to compete with the international streaming giants such as Netflix. It had been later reported to be in financial deep water by media outlets in China and elsewhere, after which its share price declined from as large as $26 in 2015 to around $0.50 in the moment.
Back in Sept 2017, Leshis creator and its holding company LeEco were put on a credit blacklist by regulators in China, public information shows. A local court in Beijing allegedly captured millions of dollars worth of Leshi shares in December. Video streaming picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Billionaire investor Steven Cohen, once dubbed the hedge fund King, would have entered crypto space. Based on a Fortune article published on July 12, Cohen has spent in a cryptocurrency focused hedge fund Autonomous partners by his VC firm Cohen Private Ventures. Autonomous Partners was set last December by Arianna Simpson, a venture capitalist with a history in the bitcoin space, including time in bitcoin wallet startup BitGo. His encryption fund has already secured investments from big names including Coinbase Chief executive officer Brian Armstrong, Union Square Ventures and Venture Companies. Whilst the magnitude of the new investment wasnt shown, it isnt the very first time Cohen Private Ventures invested in Simpsons projects.
In 2015, her partnership fund, Crystal Towers Capital, also received an investment from the company. Simpson told Fortune that Autonomous Partners are currently concentrated on smaller, next generation cryptocurrencies, even though it adheres to some degree in major cryptos like bitcoin and ether. She also suggested that among blockchain many cases of use, two werent in doubt: It is up in the air if people want to make a number of item on the blockchain. We are still figuring out what requires one and what doesnt. Nonetheless, its clear they would like to trade, plus they would like to play games .
Her primary concern from the nascent space appeared to be a regulation a reason shell not touch XRP in case the U.S. Securities and Exchange Commission rules it a security. I think that the whole space is still waiting for a little more clarity. She told the news resource. Cryptocurrency focused hedge funds have rapidly grown in number over the last year as entrepreneurs move satisfy the growing demand from traditional investors. Based on data from Autonomous Next, of an estimated 251 crypto hedge funds with $3.5-5 billion in assets under management, 175 of them were just established in 2017.
U.S. Dollars picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The advent of smart
contracts has long drawn interest for its potential to
revolutionize business agreements. Theres just one problem, and its
one that has affected
many spheres of the cryptocurrency space: a knowledge gap. This
gap exists between people who specialize in conventional legal
terms and contracts and those who specialize in the technological
programming of the blockchain.
On a recent episode of The Tatiana Show, host Tatiana Moroz interviewed Hartej Sawhney, president and co-founder of the cybersecurity firm, Hosho. Calling in from the back of a taxi cab in Istanbul, Sawhney explained that Hoshos business advantage has developed around overcoming the knowledge gap.
We see ourselves as a cybersecurity company that happens to focus on the cryptocurrency/ blockchain space, said Sawhney. What weve been doing to date has been building up a team of white hat hackers, people who have a strong background in the DevCon community. For those unfamiliar with DevCon, it is considered to be one of the worlds largest and most well known hacker convention.
Headquartered in Las Vegas, Hosho focuses on auditing smart contracts on any blockchain and simulating cyber attacks to test the security of different systems. In addition, Hosho is also developing other cyber securities solutions for the space such as a multi-sig wallet for Ethereum and a Telegram group bot that detects phishing scams.
Smart contract auditing remains the core of Hoshos work. Everything to date has been mostly people taking advantage of the fundraising mechanism of an ICO on the Ethereum blockchain, said Sawhney. Auditing means that the developers are checking to make sure a smart contract is doing what it is supposed to do.
Sawhney pointed out that auditing smar...
Japanese police have seized cryptocurrency belonging to a man with unpaid parking fines. The police explain that the revised fund settlement law enacted in April last year allows cryptocurrency to be seized like any other asset.
The Hyogo Prefectural Police traffic guidance division announced this week that it had seized cryptocurrency owned by a 59-year-old resident with multiple delinquent parking violation charges, local media reported. Hyogo is a prefecture in the Kansai region of the countrys main island, Honshu. Kobe, located west of Osaka and Kyoto, is the capital of the prefecture.
The Kobe Shimbun reported that about 5,000 yen (~US$44) worth of cryptocurrency was seized but the police did not reveal which crypto. Nikkei, on the other hand, reported that there were 2 kinds of cryptocurrencies s...
Major League Baseball (MLB) is partnering with a blockchain startup to launch a decentralized app trading game.
Steve Cohen has become the latest billionaire to make a sizable bet on the future of the nascent cryptocurrency industry. Billionaire Hedge Fund King Makes Cryptocurrency Play Fortune reports that the Wall Street icon, nicknamed the hedge fund king and the inspiration for popular Showtime series Billions, has invested in Autonomous Partners, a cryptocurrency hedge Continued
The post Hedge Fund King and Billions Inspiration Steve Cohen Makes Cryptocurrency Play appeared first on CCN
Blockchain technology is at the heart of the United Nations newly-created High-Level Panel on Digital Cooperation
Billionaire Steven Cohen, once dubbed the "Hedge Fund King," has reportedly invested in a crypto hedge fund.
The Bitcoin movement has brought with it a tidal wave of activity in cryptocurrency investments and trading. As a result, crypto market capitalization soared to an all-time high of around $820 billion in early January of 2018. But since then, we have seen a massive price decline in this market, leading many to speculate that it could all be a giant bubble.
One trailblazing company that has remained forward-thinking in its approach and advancement amid this persistent downturn is...
Australian retail lender Bank of Queensland is updating its borrowers loan contracts to keep them from purchasing cryptocurrency using mortgage funds. Brisbane-based Bank of Queensland, a retail bank listed on Australias primary stock exchange is discouraging its borrowers from using real-estate mortgages to purchase cryptocurrency after deeming it a high-risk investment, according to the Australian
The post Bank of Queensland Bans Crypto Purchases Using Home Equity Loans appeared first on CCN
Crypto exchange Binance is working on a project to launch a decentralized bank bridging the crypto industry with conventional banking. The financial institution will be based in Malta and fundraising will be conducted under German law. Authorities in Valletta have welcomed the initiative that is expected to win support from other crypto investors as well.
Binance, the worlds largest cryptocurrency exchange by trade volume, is exploring opportunities to launch a bank. The project, expecting support from other crypto investors, is centered on the idea to create a decentralized, community-owned financial institution, according to the trading platform.
The future Founders Bank will be based in Malta, the island nation that has established itself as a crypto-friendly destination. Binance told Bloomberg it has taken a 5 percent stake at a 133 million-euro ($155 million) pre-money valuation, alongside other anchor investors.
Regulation overhauls this week see South Korea aim to simplify blockchain investment
A federal judge has postponed any decision on a crypto fraud case brought by the Commodity Futures Trading Commission against the alleged scammer Patrick McDonnell. Judge Jack Weinstein of the eastern district of NY wrote in court order Thursday that the CFTC should report proposed findings of fact, conclusions of law, and because their debate is irrelevant. If I walked over and shot a man In the head, all of us know I murdered that man, but with regards to the way I am being charged under statutory law.
Why sit there and get caught up in their fairy tale and their book of fiction? . The judgment has already been mentioned In another case earlier this year, when attorneys for Maksim Zaslavskiy maintained the U.S. Government cannot assert cryptocurrencies are securities and commodities at the same time. They pointed to Weinsteins judgment as proof that the crypto currency is a commodity, not a security. Zaslavisky has been sued for securities law violations from the U.S. Securities and Exchange Commission. His case will go to a jury trial early next year, when the court will decide whether or not his companies RECoin and DRCW were selling unregistered securities. NY courthouse picture by Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Leshi Internet, a video streaming service with a history of financial issues, is being questioned by a stock exchange over its move into crypto.
The post Crypto-Powered Brave Browser Passes 3 Million Monthly Active Users appeared first on CCN
Weve really been placed on the map for the simple reason that were the first jurisdiction to try to regulate the whole DLT framework
American Express has filed a patent for a blockchain-powered proof-of-payment system
A judge in New York has postponed a decision on a crypto fraud lawsuit until the CFTC can explain how it calculated damages.
Over the past 12 hours, the bitcoin price has defended a fall below the $6,000 mark, after falling to $6,070 on July 12. Lack of Momentum and Volume The slight increase in the price of bitcoin from $6,070 to $6,250 has allowed the dominant cryptocurrency to break out of a descending trendline since July 10,
The post Bitcoin Price Avoids Decline to $6,000 but Crypto Market Still in Downtrend appeared first on CCN
As another week comes to an end in crypto land markets are down once again on the week. After hitting a weekly low of $242 billion markets have clawed back a little but are still very bearish.
Bitcoin is up a meager 1.3% on the day to trade at $6,280. It broke through support at $6,400 and has fallen over the past week, a dip below $6,000 could be imminent if buyers cannot be found. Ethereum is up 2% on the day but still low trading at just over $440.
Most altcoins are marginally up today following a week of heavy losses. According to Coinmarketap the top performing coin in the top 25 at the time of writing is Ontology which is up 11% on the day. Currently trading at $3.60 ONT is up from $3.21 this time yesterday but down 25% from $4.73 this time last week. Over the past month Ontology has been hammered with all other altcoins losing over 40% from around $6 this time last month. Against Bitcoin ONT is up 8% on the day to 56900 satoshis from 52000 sats this time yesterday.
Momentum has largely come from the small rally that most altcoins are having after their lows of the week. According to their Twitter feed LianAn Technology has joined Ontologys Co-Builder Plan as Security Specialists;
Ontology (@OntologyNetwork) July 12, 2018
Most ONT has been traded on Asias top three exchanges OKEx, Huobi and Binance in USDT. Trade volume has declined from $83 million to $60 million indicating that things could be slowing down again. Other altcoins performing well today include Dash up 7.2%, Bytecoin rising 8.2%, and Bitcoin Gold climbing 19% on the day to just over $30.
Total market capitalization has clawed back 2.5% on the day to $250 billion from $244 billion this time yesterday. They dropped to a July low of $242 billion yesterday before rebounding slightly today. Trade volume has remained at around $11 billion but since last Friday crypto markets have declined 6.7% from $268 billion. Things are still looking very bearish however and we may not have reached the bottom just yet....
A team from Chinas Tsinghua University has filed a patent application detailing a function for blockchain technology in protecting cultural heritage. Based on a patent filing filed in Apr and demonstrated on Friday, 3 university teachers developed the concept of the system which could store and share digital versions of culturally important objects employing a blockchain. The 3 inventors like Tan Jiajia, a postdoctoral researcher and Lu Xiaobu, the head of the universitys Academy of Arts and Design explain at the document which the system mainly consists of two parts. The first entails a three-dimensional computational model that could scan a culturally important thing so as to provide it with a type in the digital realm.
In the second phase, the system automatically stores each objects data on a personal blockchain through a cryptographic procedure called hashing. By including other cultural heritage holders as participating nodes, they say the blockchain platform may eventually develop into a consortium where each party will get a common register of cultural heritage data and be capable to update it with their very own archive. At the top of this, the patent filing addsthe system will make a hash for the big book on the personal blockchain whenever it gets upgraded, which will be more transacted to a public blockchain for increased visibility.
The team writes in the patent: Based on the distinctive design of blockchain for measuring info, the digital identify of every cultural heritage could be moved among different parties in reduced prices with greater efficacy, in order that we are able to expand their economic and social values. Though the document doesnt disclose specific details on how a personal blockchain will be developed, the inventors suggest their early phase exploration had been based on Tencents Trust blockchain stage a product the net giant declared in Apr of last year. See the full patent application below: Tsinghua University Patent by CoinDesk on Scribd. Buddha picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoins (BTC) sharp recovery from two-week lows has increased
the odds of a stronger rally towards $6,400, technical research
As of writing, the leading cryptocurrency is changing hands at $6,245 on Bitfinex.
BTC was expected to fall below $6,000 in the last twenty five hours as the bears were on the offensive following an inverted flag breakdown.
Nevertheless, the intraday oversold conditions probably place a floor beneath bitcoin prices in the two-week low of $6,080, helping it chart a good bounce to $6,283 (todays high).
While its too soon to call a bullish reversal, the change of luck has saved the day for the BTC bulls. Furthermore, the likelihood of BTCs cost calculating a picture-perfect inverse head-and-shoulders bullish reversal pattern could have fallen sharply had BTC found acceptance below $6,000.
Further, the sharp recovery from $6,080 to $6,283 has opened the doors to re-test of $6,400, the cost chart analysis indicates.
The preceding chart shows BTC generated a falling wedge pattern
over the last four days, as represented by lower highs and lower
extremities. Prices crossed the wedge resistance yesterday with
power (backed by a pickup in bulk ), signaling the pullback from
Mondays high of $6,820 has ended.
The falling wedge breakout additionally affirmed the bear-to-bull trend change signaled from the bullish price-relative strength indicator divergence (higher low on the RSI).
Therefore, BTC will probably find acceptance over the immediate resistance $6,270 (50-hour moving average) and grow towards the descending 100-hour MA, currently situated at $6,404.
Whilst the hourly chart has adopted a bullish bias, the daily chart is still biased to the bears, hence the bulls are cautioned against being too rough.
The 5-day and 10-day MA are trending southwest, implying a
bearish bias. The relative strength index (RSI) is holding below
50.00, indicating the bears are in control.
BTC could strike the $6,400 mark, but further gains are ruled out for the time being as the descending (bearish) 5-day MA and 10-day MA are located at $6,366 and $6,500, correspondingly.
That said, if BTC manages to close (as per UTC) today above 10-day MA, then the doors will open for a re-test of the Mondays high of $6,820.
Bearish scenario: A failure to produce a substantial move higher despite the bullish price RSI divergence along with the falling wedge breakout could shift risk in favor of a fall to a latest low of $5,755. The downside move will probably gather pace if BTC fails to hold over $6,080 (past days large ) over the weekend.
Disclosure: The writer holds USDT throughout the time of writing.
Green plant growing from cracked earth via Shutterstock
The leader in blockchain information, CoinDesk is a media outlet that strives for the grea...
CoinList, arguably the top site for listing token sales, has chosen TrustToken as the fifth ICO to be hosted on its website.
Hedge fund billionaire Steven Cohen backs crypto and blockchain-focused hedge fund Autonomous Partners, Bloomberg reports
Decentralized exchange platform Bancor has pledged to protect the crypto industry against hackers, but critics remain unconvinced
The march towards the adoption of blockchain technology in Thailands mainstream financial sector seems unstoppable. In a speech delivered during the Bloomberg ASEAN Business Summit, the governor of the Bank of Thailand, Dr. Veerathai Santiprabhob, revealed that the central bank was undertaking a review of blockchain applications for purposes of document authentication, supply chain financing
The post Thailands Central Bank is Reviewing Several Blockchain Applications Including Cross-Border Payments appeared first on CCN
Last week, I spoke with ShipChain CEO John Monarch. Before the interview, I was really wondering what the company was doing. I usually got my packages without an issue and wasnt really sure what exactly shoving blockchain into the process would do to improve my experience. It turns out behind every delivery there are price increases,
The post Exclusive: Podcast Interview with ShipChain CEO on Integrating Blockchain appeared first on CCN
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