Bread

Bread BRD

$0.0709
Market Cap $ 6.293 MM (#561)
24h Volume $ 82.498 K
Chg. 24h: -1.87%
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Bread News

🥖 Can bread and pasta harm your teeth? 🥤 Is diet soda better...

🥖 Can bread and pasta harm your teeth? 🥤 Is diet soda better than sugary drinks? 🍋 Does lemon juice improve oral he… https://t.co/eidpk1i5zK

3 months ago

RT @HotepJesus: Nancy's Coronavirus bill got food rations an...

RT @HotepJesus: Nancy's Coronavirus bill got food rations and bread lines in it. Enjoy your communism, comrade. https://t.co/4G1796eVWC

6 months ago

New Tax Code in Brazil Outlines Fines for Failure to Report Cryptocurrency Transactions

Brazil’s Department of Federal Revenue (RFB), which handles the country’s tax collection system, recently published a new tax code that outlines specific fines aimed at taxpayers who fail to declare their Bitcoin (BTC) and cryptocurrency transactions. The new code is a follow-up to provisions made by the RFB in August that require Brazilian citizens to report all transactions involving cryptocurrencies. The code applies to individuals, companies and brokerages, and includes all crypto-related activities, including buying and selling, as well as donations, barters, deposits, withdrawals and others. Failure to comply with reporting can lead to penalties ranging from 500 Brazil reals (BRD) to 1500 BRD, or from $120 to $360. (JF)

10 months ago

Mark Zuckerberg Holding Private Dinners with Conservative Influencers

Coinspeaker Mark Zuckerberg Holding Private Dinners with Conservative InfluencersIt seems that Facebook CEO Mark Zuckerberg decided to go other way and against everything he once was talking about. Since he is loosing all the biggest supporters at the enormous speed, he has started turning to the white supremacists, leaders and journalists who have been known for supporting, well, white race to be exact.Politico reported Zuckerberg has been organizing dinners with conservative leaders as, for example, is Republican Sen. Lindsey Graham, commentator Ben Shapiro, Fox News host Tucker Carlson, and CNN contributor Mary Katharine Ham.Not just that - he worshipped president Donald Trump publicly even though the latter threatened to sue Google and Facebook back in June this year.A source familiar with the whole situation said that there are no illusions that Zuckerberg is pure blooded conservative but that he (the source) thinks “he does care about some of our concerns.”His words were confirmed with one of the cybersecurity researchers who wanted to stay anonymous and who claimed the discussion in Silicon Valley is that:“Zuckerberg is very concerned about the Justice Department, under Bill Barr, bringing an enforcement action to break up the company. So the fear is that Zuckerberg is trying to appease the Trump administration by not cracking down on right-wing propaganda.”During the recent few days, some democrats openly criticized Facebook. One of them is Democratic presidential candidate Elizabeth Warren. She publicly condemned the company regarding its ad policy, which frees politicians from third-party fact-checking and plausibly enables the disinformation expansion.She tweeted:We intentionally made a Facebook ad with false claims and submitted it to Facebook’s ad platform to see if it’d be approved. It got approved quickly and the ad is now running on Facebook. Take a look: pic.twitter.com/7NQyThWHgO— Elizabeth Warren (@ewarren) October 12, 2019Earlier this year Zuckerberg met with Republican Senator Lindsey Graham, who is famous for rigorous views and comments of the social network and who implied Facebook is nothing more than a monopoly.Fox News host Tucker Carlson called on Zuckerberg saying he was adding to “the death of free speech in America. Conservative radio talk host Hugh Hewitt, has been calling for a “new regulatory regime” in order to reduce “big tech bias” against conservatives.Dinners were held always at one of Zuckerberg’s homes in California, and obviously, they ate a lot because sources familiar with the situation said these events last more than three hours.Be it as it may, Zuckerberg hasn’t been the only one who decided to do that step. If it’s to believe Washington Post, Twitter CEO Jack Dorsey has also decided to share his bread (quite literally if we might add) with his company’s biggest critics.In June he said: “It’s no secret that we are largely left leaning, and we all have biases. That includes me, our board, and our company.”It is still not known because neither Zuckerberg nor Dorsey hasn’t said anything about their political standings or views. Maybe they just decided to follow the quote from Michael Corleone (Godfather, anyone?), famous mafia boss, who said: “Keep your friends close, and your enemies closer.”Mark Zuckerberg Holding Private Dinners with Conservative Influencers

a year ago

Ripple’s XRP Hits New Milestone As 80% Of Validators Are Now Being Run By Third-Parties

People in the cryptocurrency market have always wondered if XRP was truly decentralized or not. The biggest concern was related to validators being owned by Ripple itself, however, XRP has recently just hit a tremendous breakthrough where 80% of its validators are not owned by Ripple. According to the XRP’s Validator Registry, only about 20% of the validators are controlled or associated with Ripple. Validators are nodes that participate in the consensus process of Ripple to validate transactions. This is one of the most important tasks to maintain the XRP network. Ripple allows operators to associate any node with any specific domain that is under their control. According to the official website, this encourages trust and transparency. The Ripple team stated that they are actually planning to reduce their presence even more and eventually to leave the process to third-parties entirely. The cryptocurrency exchange, CoinField has recently launched an XRP validator and has reportedly been working on a new project based on the XRP ledger. According to the official announcement on Twitter, Coinfield said the project will be a game-changer. “We have a great team of advisors in our upcoming #XRPL project. All well-known figures in #cryptocurrency space. I’ll be thrilled to announce the names & the details of the project very soon. This will be a game-changer!” Ripple’s XRP has seen a 32% loss in price this year, currently trading at $0.279. A big loss compared to most of the other top cryptocurrencies which have experienced a pretty significant increase in price this year. Fortunately, the adoption of XRP seems to be increasing, in fact, the company recently invested $750,000 in the cryptocurrency wallet, BRD, to boost XRP adoption. “The partnership and investment will enable BRD users to hold, buy, sell and send XRP to anyone in the world’’ Stated the press release. The post Ripple’s XRP Hits New Milestone As 80% Of Validators Are Now Being Run By Third-Parties appeared first on ZyCrypto.

a year ago

If Bitcoin Fails, Crypto Industry in for a Bad Time: Cardano Founder

Ethereum (ETH) co-founder turned Cardano (ADA) creator Charles Hoskinson believes that if Bitcoin (BTC) fails, the entire cryptocurrency industry could fail. Hoskinson made his remarks during an interview for the Off the Chain podcast on Oct. 10, hosted by Morgan Creek Digital Assets co-founder Anthony Pompliano. After multiple projects that included co-founding Ethereum, Hoskinson — a mathematician, cryptographer and entrepreneur — founded the peer-to-peer technology firm Input Output Hong Kong (IOHK) in 2015. As CEO of IOHK, Hoskinson created and launched the cryptocurrency Cardano in 2017, which uses a Proof-of-Stake (PoS) algorithm dubbed Ouroboros. Bitcoin: “blind, deaf and dumb by design” During the interview, Hoskinson reflected on Bitcoin’s origins, the parameters they set for subsequent projects, so-dubbed Bitcoin maximalism, and how Bitcoin’s future survival is intimately bound up with the fate of the entire industry. “One of the biggest problems with Bitcoin,” he began, “is that it’s blind, deaf and dumb and that was by design.” This was appropriate for its earliest ambitions, he said, proposing that the two core features of the Bitcoin experiment were “will Proof-of-Work evolve into a decentralized system and will the token achieve value?” Conversely, Bitcoin was never intended “to replicate the world financial system and also be fully compliant with that system, this was not in its scope.” Hoskinson critiqued Bitcoin Maximalists for taking Satoshi’s vision as “the gospel” and dismissing any deviation from it as wrong: “I can’t even make pull payments with Bitcoin and that’s the bread and butter of most of our commercial systems.” Maximalists should concede that Bitcoin’s not necessarily always fit-for-purpose, he said. And having to go off-chain to solve certain limitations isn’t the solution either: “You don’t solve your decentralized reality, your decentralized dream, by centralizing it. That’s philosophically incompatible.” “Bitcoin, frankly, is the brand of cryptocurrencies” Hoskinson’s comments on Bitcoin’s importance for the entire cryptocurrency space spun out of a discussion of the merits of Proof-of-Work (PoW) vs. Proof-of-Stake systems, and which of the two is more likely to survive. He made the case that PoW systems will only survive if they find a way to evolve in such a way that the work — computation — becomes useful, i.e. by monetizing excess computational capacity in order to establish a “marketplace for distributed computation.” Currently, he argued, those who are evangelical about the need to preserve an absolutely trustless protocol ignore the fact that PoW systems always federate in reality, being determined by who has access to subsidized power, data centers and specialized ASIC miners. Notwithstanding his vision of how the PoW space needs to evolve in order to overcome these shortcomings, he concluded with the robust acknowledgment that: “Bitcoin frankly is the brand of cryptocurrencies. We can’t say, oh, I’m going to succeed but Bitcoin’ll fail. if Bitcoin fails, the whole industry’s probably in for a really bad time.” As reported by Cointelegraph, Hoskinson had announced the roll-out of Cardano version 1.6 this August.

a year ago

Ripple’s Xpring to invest in BRD wallet

BRD, a cryptocurrency wallet has reportedly received a $750,000 investment from blockchain payments firm Ripple to boost the adoption of its XRP cryptocurrency. The investment was powered by Ripple’s Xpring program, which intends to allow BRD to build on the XRP Ledger and integrate XRP into its Android and iOS wallet apps. The expected integration The post Ripple’s Xpring to invest in BRD wallet appeared first on AMBCrypto.

a year ago

Ripple Pumps $750K Into BRD Wallet In Continuous Drive For XRP Adoption

As part of its quest for increased adoption of XRP, Ripple has injected an investment worth $750,000 into BRD, a digital currency wallet provider. Formerly known as Bread, BRD will now access the XRP Ledger, allowing the easy incorporation of XRP into its wallet platforms as available both on the iOS and Android mobile operating systems. Currently, BRD has a large enough customer base of at least 2.5 million spread across about 170 countries. Its top markets with the highest concentration of transactions and users include Japan, Germany, Australia, the U.S., the U.K., and Canada. According to BRD CEO and co-founder Adam Traidman, the partnership with Ripple is beneficial because it allows the company to expand its reach to an already large community of XRP users. Traidman also hopes to attract XRP users by making transactions on XRP as seamless as possible. He said: “It is our plan to have BRD be the cheapest and easiest place to buy XRP moving forward.” The investment was facilitated through Xpring, Ripple’s initiative for the investment, incubation, and acquisition of firms that either already support XRP or are looking to do so. Xpring Senior Vice President, Ethan Beard, has also described BRD as “an ideal partner” because the crypto wallet provider so far, has been able to handle fiat to crypto transactions worth up to $6 billion. Beard believes that the BRD platform will aid Ripple’s problem-solving aim. Before now, BRD had successfully raised $32 million in its 2017 initial coin offering (ICO) for the company’s BRD tokens. It later pulled in $1 million in a funding round and another $15 million Series B funding round in January this year, led by SBI Holdings. In total, BRD has received $56 million. Traidman has said the Ripple investment might be the last in a while as the company is focused on a project that will be largely beneficial to “crypto developers and large financial enterprises.” The BRD wallet already supports Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and more than a few ERC-20 tokens. The wallet is also completely non-custodial, giving users the power to retain full control of their holdings, all “without providing any personal information.” The post Ripple Pumps $750K Into BRD Wallet In Continuous Drive For XRP Adoption appeared first on ZyCrypto.

a year ago

ICYMI, @XpringDev is on a roll: our partnership and investme...

ICYMI, @XpringDev is on a roll: our partnership and investment in @BRDHQ will enable BRD users to hold, buy, sell a… https://t.co/LsHxbHkZkb

a year ago

Wallet Provider BRD Announces Strategic Partnership With Ripple

BRD, the provider of cryptocurrency mobile wallet services, announced on Friday it has entered a strategic partnership with Ripple's developer incubator Xpring.

a year ago

Ripple Invests $750,000 to Add XRP to BRD Wallet

Today Ripple and BRD both announced that the companies had partnered to increase XRP adoption. As part of the initiative, Xpring will invest $750,000 to “build the internet of value” and BRD will add XRP and build on the Xpring developer platform. An official press release stated that “The partnership and investment will enable BRD users to hold, buy, sell and send XRP to anyone in the world.” BRD CEO Adam Traidman said, “Our plan is to have BRD be the cheapest and easiest place to buy XRP moving forward.” (RS)

a year ago

Ripple invests $750K in crypto wallet BRD to increase XRP usage

Cryptocurrency wallet provider BRD (formerly Bread) has received a $750,000 investment from blockchain payments firm Ripple to boost the adoption of its XRP cryptocurrency. The investment, made via Ripple’s Xpring program, will allow BRD to build on the XRP Ledger and integrate XRP into its wallet apps - both Andriod and iOS, according to an announcement Friday. One the integration is complete, BRD users can buy, sell, hold and send XRP across the world. Switzerland-based BRD claims to have over 2.5 million users in 170 countries. Its top six markets are the U.S., Canada, Australia, Germany, the U.K., and Japan, Adam Traidman, BRD’s co-founder and CEO, told The Block. The wallet currently supports bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and several other ERC-20 tokens. Traidman said it’s the time to support the "large" XRP community, adding: “It is our plan to have BRD be the cheapest and easiest place to buy XRP moving forward.” Ethan Beard, senior vice president of Ripple’s Xpring unit said that BRD has helped consumers on-ramp $6 billion worth of traditional currencies into digital currencies, which makes it “an ideal partner” to continue the adoption of XRP to solve “real-world problems.” Traidman told The Block that BRD’s “unique” attribute is that it's a “complete non-custodial” wallet, which allows users to control their own funds, while also enabling them to trade cryptocurrencies when required. “This way, users can install the app and store assets without providing any personal information.” $56 million Today’s investment brings BRD’s total funding to date to $56 million, Traidman told The Block. He, however, did not disclose the firm’s valuations, nor revenues. Earlier this year, BRD raised a $15 million Series B, led by Japanese financial services giant SBI Holdings. Previously, it raised $32 million via an initial coin offering of its token BRD, and $1 million in a seed round. Traidman told The Block that BRD is a utility token and is used to reward token holders with discounts on trading and other perks. “The token has been instrumental in building our community and generating enthusiasm about the app.” He added that the liquidity of tokens is ensured via listing it on top exchanges, including Binance. The firm is not looking to raise any more funds in the next few years, and is now all focused on bringing “an entirely new product” to the market, Traidman said, without giving any specific details. “It is geared towards crypto developers and large financial enterprises” and will be announced within this quarter, he added. BRD currently has a headcount of 60, spread across North America, Japan, and Europe, and is not looking to add more members to its team.

a year ago

Ripple’s Xpring Joins Forces with BRD Wallet to Expose XRP to 2.5 Mln Global User-Base

Xpring strikes a collaboration with BRD crypto wallet, enabling XRP exposure to its vast user-base

a year ago

Ripple Invests $750,000 to Bring XRP to Crypto Wallet BRD

Mobile wallet provider BRD plans to add XRP support to its iOS and Android apps.

a year ago

Crypto wallet BRD lists Ripple (XRP) with investment from Xpring

Crypto wallet BRD lists Ripple (XRP) with investment from Xpring - CryptoNinjas The team of mobile cryptocurrency wallet BRD, announced today that it has entered into a strategic partnership with Xpring, Ripple’s development initiative. Xpring will invest $750k in BRD, which will enable wallet users to hold, buy, sell, and send Ripple (XRP). “We’re incredibly excited about joining forces with Ripple to bring XRP to our user Crypto wallet BRD lists Ripple (XRP) with investment from Xpring - CryptoNinjas

a year ago

Crypto exchange civil asset forfeiture and the long tail of the law

Link to case Before we get to the Bank Secrecy Act and in rem asset forfeiture proceedings, let’s talk about bread. In particular, there’s nothing like a good piece of sourdough bread. Still warm from the oven and with a nice bit of sweet butter and a couple sprinkles of sea salt, it’s one of life’s great pleasures. While I’m a half decent amateur cook, a good sourdough bread takes some real time and dedication. A recent piece in the New York Times by Sam Sifton describes the process — multi-day and a real-time investment but worth the payoff if the pictures are any indication. Me, I’ll stick with a pizza dough that I can mix up and use in an hour to make a nice crispy slice. You know another thing that takes a lot of time? Yes, enforcement actions involving crypto exchanges. Maybe I’m just hungry, but I really did flash back on Sifton’s sourdough piece while reading a new asset seizure case that appears to have started with a 2015 FBI investigation into a Michigan crypto exchange called CoinGather. We’ve seen a ton of attention paid to the SEC and its enforcement activity related to the ICO boom a couple of years ago. Less attention has been paid to the Bank Secrecy Act ("BSA") and the long tail of enforcement activity arising from violations of that U.S. federal law, which requires that entities who act as Money Servicing Businesses register with FinCEN. Criminal violations of the BSA are subject to a five-year statute of limitations, so a late October 2014 violation is still fair game, and civil penalties are subject to a six-year statute of limitations. This new lawsuit is what’s known as an “in rem” asset forfeiture case under a federal law (18 U.S.C. 981 to be precise) that says that "any property, real or personal, involved in a transaction or attempted transaction in violation of section ... 1960 of this title, or any property traceable to such property" is "subject to forfeiture to the United States." Section 1960 of title 18 of the U.S. code is the Bank Secrecy Act). The plaintiff is the United States and the defendants are “Dell PowerEdge Server, Serial Number JNFHSW1, and Any and All Cryptocurrency or Other Digital Assets Contained in Virtual Currency Wallets Residing on the Dell PowerEdge Server, Serial Number JNFHSW1[.]” In rem means something like “against a thing” and describes a legal convention that allows you to literally sue property, instead of a person, to assert ownership over it. As an aside, the government seizes property all the time in connection with criminal cases and (somewhat disturbingly) can seize and even keep someone’s property, even if they haven’t convicted them of a crime or gotten a civil judgment against them. (Plenty of commentators have critiqued this practice, by the way; see for example.) Anyway, this particular case arises out of an alleged violation of the Bank Secrecy Act. According to the Complaint, two years into the FBI’s investigation of a virtual currency theft, they searched the house of a target of the investigation in 2017, “at which time federal law enforcement identified evidence that the Target was operating a cryptocurrency exchange called CoinGather.” From 2014 through 2017, CoinGather supported over 90 cryptocurrency pairs, but did not allow for conversion to fiat. It took a commission on trades. And, nope, it never registered as an MSB with FinCEN and never did any AML/KYC. It was hosted on a computer on the Target’s employer and “had created a direct connection between his residence, from where he operated CoinGather, to the Defendant Server located on the premises of Community ISP, Inc.” The FBI took possession of “the Defendant Server” which allegedly had 20,000 profiles on it and included a wallet with 157 cryptocurrencies, of which 124 have value, the aggregate amount of which is in the “millions of dollars.” The Complaint says, basically, that the government is entitled to forfeiture of the server and the crypto. As a practical matter, this sounds like it means that anyone who had an account with CoinGather risks losing their assets unless they intervene in this asset forfeiture proceeding. This is pretty standard stuff, incidentally. I suppose what caught my eye in particular is that the alleged BSA violations go all the way back to 2014 and the property was seized in 2017. Like sourdough bread, this stuff takes a long time. The case also involves a pretty sizable number of user profiles/accounts. I’d never heard of and according to my unscientific survey on cryptotwitter this was a fairly minor exchange. Still, it’s another case that shows us that law and enforcement take time, if not multiple fermenations and rises. My prediction is that we will see a significant uptick in BSA related enforcement actions in the next year and probably some OFAC cases as well. Crypto learned all about the SEC and the Howey Test over the last two years — folks will be getting educated about FinCEN, civil asset forfeiture and the Bank Secrecy Act over t

a year ago

“Stop fighting each other for these bread crumbs when the wh...

“Stop fighting each other for these bread crumbs when the whole loaf is still out there to experience. We should al… https://t.co/N0YqedwkfR

a year ago

Former DoJ Prosecutor Turned Crypto VC: Bitcoin Helped Fight Crime

Ever since Facebook announced its crypto-asset dubbed Libra, the entire market, especially Bitcoin, has come under fire by regulators and their fears over the asset class’s use in criminal activities. However, one former United States Department of Justice prosecutor turned crypto venture capitalist, says that while Bitcoin is regularly used for illegal activities, it’s not responsible for those crimes, and can actually help to solve them. Bitcoin and Blockchain’s Digital Bread Crumbs Makes Following a Criminal’s Trail Easy When the Bitcoin code was first released into the wild, with it came about the emergence of a powerful, new technology called blockchain. Blockchain is an immutable, distributed ledger that records every Bitcoin transaction, the sender, recipient, value, and more. Blockchain is a revolutionary technology that will usher certain industries into the 21st century, and allow them to become more profitable, streamline processes, and more. Most can easily see the value that the technology provides. Related Reading | United States Regulators Begin Crack Down on Crypto and Bitcoin Crime Bitcoin, on the other hand, is typically considered a speculative asset, with no inherent value whatsoever. It’s even been demonized by government agencies for its use in illegal activities - the same crimes that cash has been used in for decades. But those same crimes would be far easier cases to crack for investigators and prosecutors if they were transactions made with Bitcoin instead of cash. According to former federal prosecutor Katie Haun, after being assigned to investigate Bitcoin and its relation to criminal activities, she found that the “government was able to use that same technology to actually track down criminal activity it might not otherwise have been able to.” “Without the technology underlying bitcoin, we never would have been able to catch those people,” Huan explained. From The DoJ, to Coinbase, to Andreesen Horowitz to Facebook Huan’s investigations oversaw cases related to Silk Road, and the Mt. Gox hack. Her involvement in the cryptocurrency space eventually led her to Coinbase, where she became a member of their board. There she met Andreessen Horowitz partner Chris Dixon. This connection led to Huan becoming the first-ever female general partner at major investment firm Andreessen Horowitz. There, Huan runs a $350 cryptocurrency fund that was an early supporter of Facebook’s Libra project - a project that appears to be falling apart by the day. Related Reading | US Federal Prosecutor Katie Haun: “Bitcoin is About Than Crime” Huan’s team is still playing an “active role” in Facebook’s crypto project, even despite PayPal recently pulling out of the project and additional pushback from government regulators fearing disruption of state-controlled fiat currencies. Huan’s support of crypto, in general, is what led her to Libra. “Instantly putting cryptocurrency in the hands of that many people we thought was just a huge opportunity,” she explained. The post Former DoJ Prosecutor Turned Crypto VC: Bitcoin Helped Fight Crime appeared first on NewsBTC.

a year ago

BitPay Announced That They Will Add Support for XRP Later This Year

Coinspeaker BitPay Announced That They Will Add Support for XRP Later This YearJust recently, BitPay announced that they will add support for XRP later this year. This comes after Ripple’s Xpring launched a new platform with which it now becomes possible to integrate fiat and cryptocurrency payments into any application. BitPay says that they have partnered with Xpring to integrate XRP on their platform so that other businesses and merchants can accept the largely discussed cryptocurrency.Sean Rolland, the director of product at BitPay says:“XRP can offer a payment option that is fast, cost-effective and scalable.”With the help of this partnership and support, all the BitPay wallet users and cardholders will be able to spend and store XRP as they want. Last month they announced support for Ethereum and now all-together the payments provider accepts six plus one (XRP later this year) cryptocurrencies. These currencies include Bitcoin, Bitcoin Cash, USD Coin, Gemini Dollar, and Paxos Standard Token.Last year, BitPay processed a little over $1 billion in payments. These payments include global merchants like Microsoft, Avnet, and FanDuel.“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world,” said Stephen Pair, the CEO and co-founder of BitPay.Ripple’s Xpring, on the other hand, just recently announced a new platform that enables to integrate fiat and crypto payments into any application. This includes a new SDK (Software Development Kit) that allows programmers to integrate XRP on lots of different programming languages. By doing this, Ripple tends to target crypto and non-crypto developers.“Xpring SDK allows you the developer to use the XRP ledger simply and in any programming language you want. What takes a developer today a 100 lines of code to do a transaction on XRP ledger, using Xpring SDK cuts that down by 80 percent.” says Ethan Beard, the senior vice president at Xpring.This looks like a big day to Ripple and XRP as they also announced that their currency will be available on the BRD wallet and Anchorage, a digital custody provider. With the help of BitPay, Ripple along with XRP hopes that their currency will be used by industry giants like Microsoft and AT&T.At the time of writing, XRP price makes $0,248, showing 0,46% over the last 24hrs. BitPay Announced That They Will Add Support for XRP Later This Year

a year ago

Buy, Sell and Exchange Crypto and Fiat With the New HOLD App and Debit Card

Coinspeaker Buy, Sell and Exchange Crypto and Fiat With the New HOLD App and Debit CardFor now, 36 countries from the European Economic Area (EEA) will be able to enjoy zero fee crypto and fiat exchange, while Austria, Ireland Spain are soon to follow.Get the Most Out of Crypto With No Fees at AllBitcoin, Ethereum and Litecoin will be the first available crypto choices on the HOLD app, with easy exchange, buying and selling all within the app. Deposit at any time with crypto or with fiat from SEPA transfers direct from users’ bank account.This essentially means that crypto liquidity concerns are over, as exchanges between all currencies are instant, allowing you to take advantage of the right prices as soon as they become available. Exit immediately in a downturn, storing value in fiat with no fees to eat away at their already reduced earnings.Forward-thinking traders that see now as a buying opportunity will still enjoy the instant liquidity and zero fees that come with using the HOLD app.Lastly, if you’re someone where in the middle and are trying to time the market, quickly being able to switch from offensive and defensive positions will be enabled thanks to the functionality of this app.Guilherme Almeida, CTO at HOLD said the following about the release:“HOLD is backed by an incredibly strong team and after months of hard work, we are very excited about our public launch. We are aiming high to provide our customers with the best app experience in the market allowing them to buy, sell and exchange crypto and spend cash using their HOLD Visa Debit card whenever and wherever they want. We like to call it their ‘all-in-one exchange in their pocket!’”HOLD Is in the NameWhile big features of the app are being able to instantly cash out crypto into a bank account or accompanying debit card with no fees, holding onto crypto is the bread and butter of this app.All crypto holdings will be secured by the words leading cryptocurrency custodian, BitGo. If you’re a cryptocurrency users that isn’t looking to buy, sell, time the market, but rather just wait this out and see where the dust settles, HOLD has got your back.On top of this, HOLD will use identity verification technology from Onfido, fraud and money laundering prevention systems, and even utilizing services from Chainalysis for blockchain AML checks. Traditional credit card information is taken into consideration as well and is secured according to PCI DSS compliance.To further satisfy regulatory requirements, HOLD will be applying for a VFA Class 3 License from the Malta Financial Services Authority a couple months from now in November. Later down the line, HOLD hopes to expand the app offers to other countries, as well as apply for any additional licenses or to meet regulatory requirements, if necessary.Lastly, the launch of the app and VISA card have also set into a motion a string of prepared activities to followup and build momentum, including a full-scale marketing campaign to build awareness and userbase.Buy, Sell and Exchange Crypto and Fiat With the New HOLD App and Debit Card

a year ago

Changelly And Infinito Launching Promo To Mark Complete API Integration

Changelly instant crypto exchange service and Infinito Solutions are continually developing their partnership to provide users with the smoothest experience while using the companies’ solutions. The partnership between Infinito and Changelly began back in June 2019. At the first step of this collaboration, Changelly instant exchange dApp was added to Infinito App Square to give Infinito Wallet users access to Changelly’s service. The next step in the strategic partnership between Changelly and Infinito became the integration of Changelly’s API directly inside the Infinito Wallet. Thanks to this integration, owners of Infinito Wallet can now seamlessly trade dozens of cryptocurrencies directly from the wallet interface. To highlight this new milestone in strategic partnership and to draw users attention to the API integration, Changelly and Infinito are offering a special launch promotion: For 2 weeks from 25.09.2019 to 09.10.2019, all Infinito Wallet users will be able to exchange cryptocurrencies inside the wallet using Changelly solution free of charge! Additionally, Infinito will reward 10,000 VNDC for each of the first 24,000 transactions made. The more transactions a user makes, the more rewards he gets! Since June this year, Changelly’s Instant Exchange API has also been featured on Infinito’s blockchain application development infrastructure, IBP, for companies who wish to integrate instant crypto exchange functionality into their services. Together, the two companies are providing a comprehensive non-custodial instant exchange solution for both end users and blockchain businesses. “We are proud to enhance our partnership with Infinito and provide their wallet users instant exchange features. I like the Infinito suite of products and how they make access to the crypto ecosystem very easy. It’s companies like Infinito that are accelerating crypto adoption through their innovative technology,” - says Eric Benz, CEO of Changelly. Mr. Junya Yamamoto, CEO of Infinito, shares: "Native Exchange feature is the first of many great DeFi features to join Infinito Wallet. Our Universal Wallet has achieved significant milestones as a mobile wallet and now, in-wallet trading feature will be Infinito's next step to offer even more seamless experience for a user and to become a full-fledged decentralized financial product. We are glad to have Changelly as our first exchange partner. As strategic partners, Infinito and Changelly together will work to bring decentralized financial services to global communities." About Infinito Infinito aims to create a perfect blockchain experience for users, applications, and developers through its product Ecosystem which includes Infinito Wallet, Infinito App Square, Infinito Blockchain Platform, and InfinitoPAY. A professional team of 50 experts behind Infinito Wallet, Infinito Blockchain Platform, and Infinito business blockchain solutions - with intensive experience in blockchain technology including technical developers and researchers, business and marketing executives, designers, quality control engineers, and customer service officers. Official website: https://www.infinito.io Infinito Wallet website: https://www.infinitowallet.io/ Infinito Blockchain Platform website: https://platform.infinito.io/ Global Telegram: https://t.me/infinitowallet Telegram announcement board: https://t.me/infinito_announcements About Changelly Changelly is a non-custodial instant cryptocurrency exchange, which means that no users’ funds are placing in the service. Changelly acts as an intermediary between crypto exchanges and users, offering access to 150+ cryptocurrencies. The company mission is making the exchange process effortless for everyone who wants to invest in cryptocurrency. Operating since 2015, the platform and its mobile app attract over a million visitors monthly who enjoy high limits, fast transactions, and 24/7 live support. Changelly offers an intuitive interface, the best exchange rates, and secure transactions. Hence, aspire to establish mutual trust with clients. Changelly offers its API and a customizable payment widget to any crypto service that wishes to broaden its audience and implement new exchange options. Dozens of crypto businesses already use Changelly API which empowers their functionality with the instant swap feature. Changelly partners with MyEtherWallet, Exodus, Binance, BRD, Edge, Coinomi, Trezor, Ledger, Enjin, Coinpayments, Huobi Wallet and other well-known players in the crypto industry. The platform also provides its Affiliate program with a 50% revenue share mechanism. Official website: https://changelly.com/ Global Telegram: https://t.me/join_changelly Global Twitter: https://twitter.com/Changelly_team

a year ago

Bakkt Not Tipping Point for “Bitcoin Adoption”, CNBC Analysts Argue

On Sunday, a momentous occasion took place for the Bitcoin industry: The Intercontinental Exchange-backed Bakkt launched its much-awaited Bitcoin futures contracts after nearly a year of regulatory setbacks and logistical hurdles. While many expected for there to be “fireworks” at the open, there weren’t. Indeed, as according to the Intercontinental Exchange’s market data says that the product has processed a mere ~70 BTC in volumes for its first trading session, paling in comparison to, say, the CME’s Bitcoin market. Related Reading: Analyst: Bakkt Launch to Improve Trustworthiness of Crypto Markets This leaned into theories tendered by CNBC analysts that Bakkt won’t be the “tipping point” for the adoption of cryptocurrencies. Yet they still asserted that it will be important for the growth and viability of this asset class in the long run. Bakkt Not the Best Thing Since Sliced Bread According to CNBC’s latest episode of “Fast Money”, Bakkt is not the best thing since sliced bread, despite what you might have read on Twitter just weeks or months ago. However, the exchange doesn’t come without its benefits. Brian Kelly, the chief executive of BKCM, argued that regulated and large-scale investment products like Bakkt will “tamper down the volatility” in Bitcoin markets. Volatility, of course, is what industry leaders like Litecoin creator Charlie Lee will drive adoption. As the NYSE parent Intercontinental Exchange launches bitcoin futures trading, @BKBrianKelly breaks down what it means for the cryptocurrency. pic.twitter.com/ronORISSXn — CNBC's Fast Money (@CNBCFastMoney) September 23, 2019 Steve Grasso, the director of institutional sales at Stuart Frankel & Co. Inc., echoed this tacit optimism. He said that this product will give cryptocurrency traders with access to Bakkt “much more confidence”, and will overall “give credence to the whole Bitcoin story.” Bitcoin’s Medium of Exchange Narrative While the consensus on the “Fast Money” panel was that Bakkt will at the very most entice institutions in and marginally improve liquidity, Kelly went on to bring up a very important point. One that many have forgotten over the recent news cycle. Touching on the fact that Starbucks is involved in Bakkt, with the coffee giant being an investor in the crypto exchange, the CNBC contributor argued that these new Bitcoin futures will help BTC’s medium of exchange narrative: “The way that this product is structured, you can go into Starbucks with Bitcoin — they have it on their books — you can pay with BTC, they can hedge out any of the volatility, then they can have cash at the end of the day. Bakkt gets the medium of exchange [narrative] out there.” While this may not make any sense, Starbucks accepting Bitcoin has been something that has been confirmed to some extent. The Block broke the news earlier in 2019 that Bakkt is actually working closely with Starbucks, one of the world’s largest restaurant chains. Per their source, the coffee giant has managed to secure a substantial stake in Bakkt in return for “commitment to allow Bitcoin payments in store in 2019”. Related Reading: Crypto Tidbits: Fidelity’s Bitcoin Offering Live, Starbucks May Accept Cryptocurrency Bakkt has also been looking for developers to build out a mobile application. While little is known about this facet of the recently-launched startup, many suspect that it will be a wallet and payment mechanism that will allow users to spend Bitcoin and cryptocurrencies. And if what Kelly said is correct, futures will play a key role in this aspect of the Bakkt ecosystem. Featured Image from Shutterstock The post Bakkt Not Tipping Point for “Bitcoin Adoption”, CNBC Analysts Argue appeared first on NewsBTC.

a year ago

Devs Remove BIP70 Payment Protocol From Bitcoin Core’s Default Settings

Cryptocurrency advocates have recently discovered that Bitcoin Core (BTC) developers are planning to disable the payment protocol BIP70 supported by default in the Bitcoin Core version 0.19.0 client. According to developer discussions, full BIP70 support might be removed by version 0.20.0. Also read: How Merge Mining and Anchored Blockchain Projects Capitalize on Bitcoin’s Security Model Bitcoin Core Developers Remove BIP70 Payment Protocol From Version 0.19’s Default Settings There’s been a lot of discussion this week regarding the payment protocol BIP70 used by the cryptocurrency payment processor Bitpay. According to a merged Bitcoin Core pull request, developers will disable BIP70 support by default in version 0.19.0 of the Core client. The programmer who announced the removal request initiated the conversation by asking to “disable BIP70 support in the GUI by default for 0.19.0 (for eventual removal in 0.20.0?).” The payment protocol BIP70 was introduced in 2013 by Gavin Andresen and Mike Hearn in order to address the vulnerabilities associated with BIP21. The open standard called BIP21 has been used across the ecosystem since 2012, but BIP21 QR codes can suffer from man-in-the-middle (MITM) attacks and end up being fraudulent. BIP70 was designed to address the MITM attacks and stop them altogether. The BIP70 payment protocol uses Google’s Protocol Buffers and authenticates the transaction with X.509 certificates over http/https. “Payment Protocol adds new security to payments, protecting you from sending payments to imposters or attackers,” explained Bitpay after implementing the feature. The disable BIP70 request. In 2017, the largest bitcoin payment processor in the industry, Bitpay, started using the BIP70 system and it is now required to pay a Bitpay invoice. The company added BIP70 in 2014 and started full support in 2017 during that year’s market bull run. When the Atlanta-based firm revealed full support for BIP70, the company asserted that the payment protocol eliminates user error in bitcoin payments and MITM attacks. After Bitpay implemented the change, lots of BTC supporters were not too pleased with the change and complained about the digital certificate issuance (X.509) security. People also objected to BIP70 because some skeptics believe the process opens the door to increased AML/KYC surveillance tactics. Initially, the complaints revolved around the number of wallets that supported BIP70 in 2017, but since then there’s been a significant increase in wallet clients that support BIP70. The BIP70 protocol is also used for bitcoin cash transactions and BCH-based Bitpay invoices as well. BTC wallets that use BIP70 today include Btc.com, Copay, Bitpay, Mycelium, Edge, BRD, Bitcoin.com Wallet, Electrum, Bitnovo, Exodus, Blockchain Wallet, and the Bitcoin Core client. The default settings removal received wide support from Core devs and Wladimir J. van der Laan merged the code into 0.19. After the request to remove BIP70 from the 0.19.0 default GUI settings is enacted, functionality will still exist, but the user has to toggle the BIP70 settings on to use the protocol. Core developers also seem very adamant about disabling full support in Core version 0.20.0 as well. At first, some developers said that maybe the group shouldn’t disable BIP70 right away and give the public an “aggressive” deprecation warning. Active Core developer James Hilliard said the deprecation warning should also tell merchants that “it’s recommended that users contact/inform the merchant that they are using a deprecated and insecure protocol.” However, most BTC developers simply responded with an “Ack” (accepted the change) and Core lead maintainer Wladimir J. van der Laan said, “I would really like to merge this for 0.19.” The request was merged into the Bitcoin master codebase by van der Laan nine days ago. Virtue Signaling, Ethereum Acceptance and the Usual Anti-Bitpay Rhetoric Of course, not everyone agreed with the Core development team’s decision to disable BIP70 and skeptics believe it was done as a signal and out of spite. Some people think that Bitpay’s recent Ethereum support may have pushed Core developers over the edge. The CTO of the BCH platform Cointext, Vin Armani, said: “They’re ceding the entire non-custodial financial services industry to BCH with this move and the accompanying narrative — They think they are “punishing” Bitpay (clear from PR this is all about Bitpay) with this move, but they are cutting themselves off from a powerful protocol.” Armani continued: It’s an anti-Bitpay narrative using a total non-issue that is simply unlikely as hell, has never occurred in the wild and that can be completely mitigated (“patched”) by a wallet with like 3 lines of code. Armani also insisted that the reason developers removed BIP70 was for virtue signaling and for adding ETH support. “Plain and simple toxic maximalism — But please, maxis, don’t let me stop you from shooting yourselves in the foot,” he tweet

a year ago

With New Exchange Features, Wallets Aren’t Just for Storing Bitcoin Anymore

Bitcoin wallets play an essential role in facilitating every user’s interactions with the blockchain. They can connect to full nodes, store public and private keys, sign transactions and ultimately make it easy to store, send and receive bitcoin. In a nutshell, these software applications complete complex cryptographic functions under a friendly disguise: They offer an easy point-and-click (or touchscreen) experience that everybody who’s ever managed a credit card balance can understand. However, this functional simplicity is being challenged by a new trend that many wallet developers seem to be following: integrating exchange features to facilitate inter-currency trading and possibly increase liquidity. There are three main categories of such additions: Wallets which allow users to buy bitcoin with their credit cards;Wallets which allow trades between BTC and altcoins;Wallets which allow the conversion of mainchain bitcoins and altcoins to Lightning Network satoshis (a third party-reliant precursor to atomic swaps). In order to better understand this functional trend, Bitcoin Magazine has contacted representatives from five popular BTC (and possibly multi-coin) wallets: Edge, Blockchain, BRD, Blue Wallet and Guarda. All of the respondents have received the same questions, and, fascinatingly, the exchange features have been implemented in different ways to serve varied purposes. Edge Wallet and Third-Party Exchanges In the quest to facilitate bitcoin trades, Edge wallet has chosen an interesting approach: Instead of building a centralized proprietary service or relying on a single third-party partner, the platform offers multiple options. Users’ transactions are assigned to the best available trade at the time on exchanges such as ShapeShift, Changelly, Wyre and Simplex. Furthermore, a direct link to Bitrefill is provided so users are able to buy various gift cards with bitcoin. “By integrating with third-party exchanges, users can acquire and trade cryptocurrency without the risk of leaving their funds with a third party. Users can also search for the best price across multiple exchange partners,“ said Edge CEO and co-founder Paul Puey. In a nutshell, Edge has added its exchange functions as a way of creating an “all-in-one” experience which suits newbies and minimizes risk through a selection of reputable services. If transferring funds to an exchange like Coinbase and withdrawing your fiat or bitcoin can take a long time (especially if the initial KYC verification process is involved), then dealing with Changelly or buying some BTC from Simplex is a lot faster and requires fewer signups. Puey highlighted Edge’s noncustodial nature as a competitive feature. “The foundation of Edge and an advantage that sets us apart from other wallets is our key management,” he said. “Edge is a non-custodial wallet that allows users to control their own funds in a highly secured manner. Another advantage with Edge is that users now have a better way to transact without having to leave the wallet to access exchange functionalities.” The wallet seems to be increasingly popular thanks to these features, as the CEO pointed to a 100 percent growth in user base from one quarter to the next, even in the face of the 2018 bear market. Blockchain Wallet, Swap and the Pit Blockchain is one of the oldest wallet solutions on the market, with a company history that began as early as 2011 and a long-standing reputation in the field of block explorers. Unlike Edge, it seeks to build an ecosystem of its own, with proprietary applications which are integrated in the main wallet. As a multi-cryptocurrency wallet, Blockchain has added Swap, a feature which allows users to trade between BTC, ETH, BCH and XLM, at prices close to the market valuation. According to Head of Strategy and General Manager Xen Baynham-Herd, “Swap allows users to exchange assets on-chain while maintaining complete control of their private keys.” As with Edge, users don’t have to leave the wallet’s interface when they want to trade between their cryptocurrencies, and the interface is simple enough to be accessible to newbies. According to Baynham-Herd, Swap “has been met with outstanding support from our users since we unveiled it last October.” Moreover, Blockchain has recently added the Pit — a more advanced exchange service which enables active trading between assets. Its interface resembles that of Coinbase Pro, as fiat options and more cryptocurrency pairs are included. Basically, it’s an attempt to extend the wallet’s usability while also providing extra features that bring liquidity. Instead of moving funds between exchanges and waiting for various verification processes, users can simply sign up for the extension service and perform the same actions. The main issue with this approach is that the new exchange might not have enough liquidity to support large volumes — but if the service is good, then users will definitely create the financial prerequisites

a year ago

SLP Token Environment Built on Bitcoin Cash Continues to Expand

According to public data, a number of individuals are creating tokens using the Simple Ledger Protocol (SLP) on the Bitcoin Cash (BCH) blockchain every day. The SLP ecosystem is expanding and has given anyone the ability to create the next great digital token for tomorrow. Also read: Snowden: US Seizing My Book Revenue is ‘Good for Bitcoin’ SLP Hackathon Prize Pool Grows, Crescent Cash Improvements, and Art on the Bitcoin Cash Blockchain If you follow the BCH community, you’ve likely heard of the Simple Ledger Protocol (SLP) and the tokens that derive from this system. It’s been over a year since the SLP project launched and the token universe has grown exponentially as the outlying infrastructure has matured. Now developers are hosting a dedicated SLP hackathon aimed at building out the token environment even more. Further, when we last reported on the SLP Virtual Hackathon (SLPVH), we mentioned rewards that will be given to the winners. Now the prize pool is over $7,000 thanks to BCH and SLP token donations. The SLP Virtual Hackathon will be held for 72 hours on September 27-30 Last week, BCH supporters donated bitcoin cash and various tokens like spice to the prize pool in order to give contestants more incentives. SLPVH will be held for 72 hours on September 27-30 and participants are encouraged to come up with unique ideas like onchain voting, token specific wallets, SLP tip bots, NFT (nonfungible token) collectibles, and onchain games. Additionally, software developer Chris Troutner published a descriptive video on SLP token development with tools like Badger Wallet, SLP SDK, SLP SDK Documentation, and the bch-cli-wallet alpha release with SLP support. “I created this video to help contestants in the SLP hackathon,” Troutner explained. “[The video] is a walkthrough on how to set up a development environment, create tokens, mint tokens, and send tokens.” Are you a developer looking to build on Bitcoin Cash? Head over to our Bitcoin Developer page where you can get Bitcoin Cash developer guides and start using the Bitbox, SLP, and Badger Wallet SDKs. This week, the developer of the opensource, non-custodial BCH wallet that uses the Cash Accounts system, Pokkst, released version 1.8.1 of Crescent Cash. Similarly to Badger, Electron Cash, and Ifwallet, the Crescent Cash client also supports SLP tokens. Pokkst improved the user interface, added Tor support, and now the wallet supports SLP token icons. This means SLP tokens will show an attached image if the coins have an icon picture tethered to the design. Crescent Cash v1.8.1 is now being rolled out to the Play Store! Desktop versions are now available on https://t.co/bcoUV9GDNv — Crescent Cash (@crescentcash) September 18, 2019 As news.Bitcoin.com discussed in a prior in-depth SLP editorial, developers have been trying to figure out the best methods to attach an SVG, GIF, or other types of images to tokens. People want to add images and custom art to nonfungible tokens and according to developer Gabriel Cardona “tokens are art.” “There will be highly valuable pieces of art and music tokenized as NFTs — All collectibles will find a home as NFTs on the blockchain,” Cardona tweeted. Following the statement, Cardona shared an art token created by @brianxv15 which shows a moving GIF image and can be viewed by anyone on the Bitcoin Cash blockchain. The token, called silverII, shown in the explorer link is a single nonfungible art token out of 15 minted. Cardona is a huge fan of SLP tokens and refers to the trend as the “Tokambrian Explosion” on BCH and often shares every unique SLP concept he can find on his Twitter feed. On September 19, the Bitcoin Cash programmer noted: One of the greatest attributes of Simple Ledger Protocol (SLP) tokens is how light-weight they are. Create a token for any occasion and when you’re done with it just send your tokens to a wallet which doesn’t support SLP and they will be safely burned and the underlying BCH will be recaptured. Another great NFT art token by @brianxv15 Art on the blockchain!https://t.co/qGQrs4XRjI pic.twitter.com/oe6sbPupQf — Gabriel Cardona (@cgcardona) September 18, 2019 Sideshift’s Sia, Honestcoin Transparency Report, and Nonfungible Tokens Built on Memo Another interesting development in the SLP environment is the peer-to-peer trading platform Sideshift.ai’s SLP token called sia. The new token is basically like an exchange rewards coin that gives “exclusive services and privileges on Sideshift AI ecosystem.” Sia was added to the exchange Coinex last month currently the token is trading for roughly $0.04 per sia. There’s a max supply of 210 million sia coins and the token has seen $805,000 in 24-hour trading volume this Friday paired against bitcoin cash. Another token that has seen more infrastructure support is the stablecoin built on BCH called honestcoin (USDH). The SLP-centric trading exchange Cryptophyl recently added USDH support to the platform and also published a transparency report for th

a year ago

Gemini Exchange Introduces Stronger Storage Options

Cameron and Tyler Winklevoss of the Gemini Exchange claim to have built a better vault system to protect their customers’ bitcoin and cryptocurrency assets. Gemini Brings On a Bigger, Better Vault One of the big questions meandering through the crypto space as of late is, “How can we ‘insure’ people’s money? What can we do to protect money and ensure it remains safe from hackers?” After so many instances involving lost funds and personal data over the years, the question makes complete sense. One of the big problems in the crypto space is the fact that many exchanges are not employing cold storage tactics. Many of the major hacks that have occurred in the past few years, i.e. Coincheck in Japan, are largely blamed on the exchanges themselves for utilizing hot wallet storage, which is far less secure. Cold storage keeps funds stored offsite or offline so that even if the trading platform is hacked, the money belonging to customers cannot be touched. Now, it appears many firms based in the U.S. and abroad are looking to increase their cryptocurrency holdings tenfold, which means storage needs to increase along with safety features. The Gemini Exchange is looking into these necessities with its new vault system. In addition, it’s also expanding its custody division by including up to 18 new coins such as Bread and Enjin. Tyler Winklevoss, the company’s CEO, explains: The maturation of crypto as an asset class depends heavily on the safety and soundness of the custodians that hold individual and institutional funds. Now, customers have the option of garnering “instant liquidity” through the company’s offerings. They no longer need to wait to receive their assets from cold storage, but rather trades can occur in just a few minutes if not less time, ensuring customers gain access to their funds quickly and without delays. A separate feature also allows clients such as hedge fund managers to audit and confirm asset amounts in Gemini-based accounts, providing proof to customers that their funds are accurate and well kept. This Looks Kind of Familiar... Gemini’s managing director of operations Jeanine Hightower-Sellitto explains: At the end of the day, to simplify things, it’s sort of like putting your assets in a vault. You want to make sure when you want your assets, they’ll be there... It takes a lot of engineering to build and maintain this system. What Gemini and other cryptocurrency firms are doing is no different than what standard banks, i.e. JPMorgan, Bank of New York and Citigroup, are doing with Wall Street. These banks and others like them have developed “back-office operations” to support traditional stocks and bonds. Gemini is doing the same, but for cryptocurrencies. Hence, many exchanges (or the coins they offer) are becoming far more in line with their traditional counterparts. The post Gemini Exchange Introduces Stronger Storage Options appeared first on Live Bitcoin News.

a year ago

Winklevoss’ Gemini Launches Custody Product Supporting 18 Cryptos

Coinspeaker Winklevoss’ Gemini Launches Custody Product Supporting 18 CryptosGemini, the New York-based crypto exchange has launched an institutional-grade crypto custody solution as reported on September 10. The exchange was founded by twin brothers Cameron and Tyler Winklevoss in 2014. They have named the new solution as Gemini Custody.In a news release on Tuesday, Gemini confirmed that its newly launched custody solution will enable users to do various things. It will let them download account statements, check balances, and initiate withdrawals. Moreover, it will let users grant auditors view-only access to confirm balances, transactions, and activity.Gemini Custody is offered through the Gemini Trust Company which is a regulated custodian administered by the New York Department of Financial Services (NYDFS). Customers can also trade their assets instantly on the platform since the Custody offers them credits. That means that they will not need to wait for funds to be transferred from cold storage when trading.In the past, clients had to wait for more than 24 hours to access and trade assets. Now, Gemini customers can trade assets held offline without needing to wait to access them using this new system. According to the press release, users can set up white lists. These white lists will ensure that their crypto holdings can only move as withdrawals to certain addresses.Through these white lists, clients will grant auditors access to confirm activity and balances. The white lists will also let the customers create various sub-accounts that have different permission levels as required. Jeanine Hightower-Sellitto, the Gemini managing director of operations, described Gemini Custody as a “crypto-native solution”. It offers both security and liquidity for clients. She added:“Institutional investors have demonstrated a clear and growing demand for crypto. But, they’ve struggled to find a solution that fully meets their complex regulatory and security requirements.”The Supported AssetsReports suggest that Gemini Custody now supports 18 cryptocurrencies. These include Litecoin (LTC), Bitcoin (BTC), Ether (ETH), and Bitcoin Cash (BCH). Other supported ERC-20 tokens include OmiseGo (OMG), 0x (ZRX), Augur (REP), Loom Network (LOOM), Maker (MKR), Augur (REP), Basic Attention Token (BAT), Gemini dollar (GUSD), Kyber Network (KNC), Bread (BRD), Dai (DAI), Enjin (ENJ), Flexacoin (FXC), and Decentraland (MANA).Tyler Winklevoss, the Gemini CEO, said that the much-necessary maturation of cryptocurrency as an asset class heavily relies on custodial security. He explained:“From day one, Gemini recognized the need for a world-class custody solution that is secure, compliant, and easy to use for individuals and institutions around the world.”As we published recently, Tyler and Cameron Winklevoss said that they are ready to partner with Mark Zuckerberg on Facebook’s Libra stablecoin project. Cameron believes that Libra represents a step forward in the mass adoption of cryptos. Gemini plans to add support for other virtual currencies as well.While most of the new ERC-20 tokens did not entirely get approval via the NYDFS, the NY financial regulator approved Gemini’s Listing, Custody and Issuance Framework. The tokens are added in accordance with the framework. This launch is only the latest move in Gemini’s efforts to offer regulated services to institutions.In early July, the exchange announced that it was preparing to file for a broker-dealer license via the Financial Industry Regulatory Authority (FINRA). FINRA is the self-regulatory organization that oversees securities dealers in the United States. Should Gemini get a broker-dealer approval, it can then apply to become an alternative trading system that will enable it to provide digital securities for approved traders.Winklevoss’ Gemini Launches Custody Product Supporting 18 Cryptos

a year ago

Netki Adapts TransactID Into Fits-All Solution for FATF Travel Rule Guidance

“Bitcoin is growing and many people recognise that it is thriving today and will continue to thrive in the future. Accepting this begs the question — how do [privacy and identity] operate together?” So asks PricewaterhouseCoopers (PwC) in its “Trusted Bitcoin Ecosystem White Paper,” a 2017 summary of a proof-of-concept for regulatory-compliance bitcoin transactions. The very concept of “Trusted Bitcoin,” to many of us, is an oxymoron, but it strikes to the core of a tension emerging alongside Bitcoin’s prominence: How can officials corral such an incorrigible technological beast into the bullpen of existing regulation? “For regulators and institutions,” PwC’s report continues, “[how privacy and identity interact] presents a challenging decision. Do they choose to engage the technology and market opportunity or not? Do they attempt to control or not? As cryptocurrencies at odds with regulation (privacy related or not) continue to proliferate, these questions will become increasingly important.” Increasingly important indeed. The central issue behind PwC’s question has been blown open lately, following the recommendation by the G7’s Financial Action Task Force (FATF) that cryptocurrency service providers (e.g., exchanges, wallets and other similar companies) comply with the travel rule — a banking mandate that requires institutions to share identity information on users for transfers equal to or greater than $1,000. A “Compliant Ecosystem” for Bitcoin Companies As cryptocurrency service providers rush to find solutions that satisfy the FATF recommendation, they may already have a ready-to-deploy solution that doesn’t require changes to established laws. “Our solution meets global regulatory requirements today, without requiring the regulator to change,” Netki CEO Justin Newton told Bitcoin Magazine. Founded in 2014, Netki believes that it has devised an answer to this question with its TransactID solution, which was also cited by PwC in its Trusted Bitcoin Ecosystem trial. During the trial, conducted for the Monetary Authority of Singapore (MAS), the Singaporean agency “asked for examples of how to build a compliant ecosystem, [and] the only solution they found in use by a regulated entity was ours,” according to Newton. This solution leverages a modified version of BIP 75, an improvement proposal that Netki drafted in 2016 in cooperation with BRD wallet, and x.509 certificates, a decades-old public key framework that undergirds HTTPS web browsing. On the surface, the improvement proposal has practical applications for creating ID/address lists for public keys. This makes wallets more “readable” and user friendly, and it is part of the reason BRD backed the proposal. It also allows its users to store additional identity information other than names, such as addresses and emails. Upon BIP 75’s unveiling, community members, like then Core contributor Peter Todd, voiced privacy concerns as they became worried the proposal would be used for KYC purposes. These caveats were valid, and even prescient, because this is exactly how Netki intends to use the solution. “I think that their concerns are understandable and are something we thought about as we were approaching the protocol,” Newton, who helped to architect BIP 75, told Bitcoin Magazine. “It is for that reason that we designed the protocol in a way that, while it allows companies to meet their compliance requirements, it doesn’t create things like centralized chokepoints, honeypots of transaction and identity data tied together or other items that would give regulators wider or deeper controls or views than they are strictly entitled to by law.” Ready-to-Deploy Solution Newton continued to say that Netki does not “claim to provide an anonymous solution, but users privacy is a core tenet of [its] design.” The second-layer technology creates a private, encrypted channel between the wallets involved in a transaction to facilitate a closed loop flow of information. None of this information touches the public ledger and it exists in a vacuum; because the channels are encrypted and strictly between two entities, they are not aggregated into the “honeypots of transaction and identity data” that lead to such leaks as the Equifax breach in 2017. “The protocol is designed with the concept of minimal disclosure in mind, so that the counterparties can choose to exchange only the bare minimum of data either required by law, or desired by the participants,” Newton said. This flexibility will be key for meeting the needs of regulators in different jurisdictions. For instance, in the U.S., the travel rule only applies to transfers between money services businesses, while, in places like Switzerland, it applies in any case, be the recipients/senders of a transaction a bank or individual. Netki also believes its solution is the only completely compliant tool available to officials at the moment. CipherTrace and Shyft unveiled their own solution to FATF’s guidance in July 20

a year ago

95% Of Brazilians Can Now Pay For Mobile Services In Electroneum

You can now top up your mobile phone with Electroneum (ETN) - if you happen to live in Brazil. A new integration with the country’s four largest mobile phone operators will extend cryptocurrency purchases to 220 million people - representing 95% of the country’s mobile phone market. The digital payments company, which aims to “unlock the global digital economy for millions of people in the developing world,” is working with a third-party multinational wholesaler to deliver airtime and data via the Electroneum ecosystem. According to Electroneum CEO Richard Ells, the multinational partner makes bulk purchases of airtime and data “from the largest MNOs [Mobile Network Operators] in the world,” which can then be exchanged for ETN. Claro was the first MNO integrated to the Electroneum payments network last month, recently followed by Vivo, Oi and TIM. Together, the four companies dominate the mobile market in Brazil, providing service to around “220 million of the 231 million mobile phone subscriptions in Brazil,” according to a list of mobile network operators in the Americas. Ranking fifth in the world for mobile phone usage, Brazil’s economy is growing rapidly, making it an excellent candidate for Electroneum to pursue its mission. The ETN ecosystem has previously seen success in South Africa, where it is “enabling thousands of their users to purchase everyday items such as milk, bread, and coffee, as well as pay for services including car washes, haircuts, and taxi rides,” the company says. By expanding to the largest economy in Latin America, Electroneum hopes “to take Electroneum’s mobile app to as many people as possible,” with mobile top-ups being a first step towards other services like international payments and everyday services. The Electroneum M1 smartphone, designed as an affordable mobile device to be sold in developing countries, accompanies the company’s efforts to infiltrate the mobile market. The device “pays back” users with monthly Electroneum rewards via cloud mining, rewarding users with “$3 USD worth of ETN each and every month, which can be stored or spent with any retailer that accepts ETN.” The company continues to expand, demonstrating “there is a real utility for cryptocurrency users.” Electroneum says that its next step is to push for further mass adoption with its effort to “broker new deals with more corporations, retailers, organizations, and governments.” The post 95% Of Brazilians Can Now Pay For Mobile Services In Electroneum appeared first on Crypto Briefing.

a year ago

FIO protocol nets $5.7 million Series A led by Binance Labs to make wallet transactions more user friendly

Binance's venture arm is leading a $5.7 million fundraiser for a protocol looking to make wallets easier to use. Developer Dapix is making strides in the development of its Foundation for Interwallet Operability (FIO) protocol bolstered with the latest funding. The protocol could lower the barrier to entry in crypto by abstracting the need to understand private keys and public addresses. This Series A comes after last year's seed round, when it raised $2.3 million. The announcement of this round coincides with a presale of the product. At its core, FIO is trying to streamline the user experience of transacting in-wallet. CEO David Gold said his first impression of blockchain was very similar to his first interactions with a mosaic browser using dial-up in the dot-com era. The once dot-com entrepreneur said in both cases, he saw clumsy usability getting in the way of revolutionary technology. “On the one hand I looked at it and said, ‘this is going to change the world,’ and on the other hand, this is really hard to use,” he said. “This needs to be dramatically improved if blockchain is going to achieve its potential and actually reach mass adoption.” That was the genesis of FIO, according to Gold. Asking a new user to enter a world of private keys and long public addresses seemed daunting, especially when a mistaken address can lead to failed transactions, the loss of funds or hours lost trying to recover them. As Gold said in FIO’s demos, the process for a new user isn’t "psychologically comfortable." "The system circumvents these barriers to entry by integrating with wallets, adding to the wallet’s operating system rather than overhauling it. Users are given a so-called “FIO address,” similar to an email address, mitigating the need to keep track of private keys and public addresses. These “human readable” addresses work identically across every token and coin. “FIO addresses are the way of abstracting public addresses so that users do not need to see, nor even know that public addresses exist,” said Gold. The company has conducted a testnet launch of its protocol, eyeing a mainnet launch in 2020. For now, there’s a presale coinciding with the funding announcement, allowing interested parties to claim FIO usernames and domains ahead of launch. Gold said so far he was impressed with the number of people engaging in the presale despite its recent unveiling. Users can also type in the desired FIO address and request funds in-wallet, much like popular digital payment systems Venmo and CashApp. FIO even mimics the memo capability, with the opportunity to write what a payment is for in the request. According to Gold, all this lessens the chance of a faulty transaction, since FIO addresses are less complicated than public ones, and the server will not allow users to send funds to an invalid FIO address. “That concept [of request] largely doesn’t exist in the blockchain world today,” he said. “Everything starts with send, and in the world of irreversible transactions, request for send is critical because that is the way you create error-free transactions.” Still, this begs the question - what if your counterparty doesn’t have the protocol? Gold admitted mass adoption is key for the system to reach its potential. Both the transactor and the counterparty need to utilize FIO for it to work. So far 25 partners have integrated the protocol, according to Gold, and the system was built in conversation with industry players. Gold said it's on the path to being industry standard. Getting everyone to agree to one integration can be challenging, and Gold said mass adoption is tough until you hit a 50% tipping point, but a $5.7 million vote of confidence led by Binance Labs and bolstered by backers like Blockwall Capital and LuneX Ventures among others, is an encouraging early sign. Gold also couldn’t point to much competition. Others in the space have focused on one aspect of what FIO does, rather than solving multiple usability problems in one system. Gold said he’s looking to amass more partners ahead of the mainnet launch. Wallet providers like BRD, Coinomi and Bitcoin.com are already on board.

a year ago

Borderlands 3 Devs Mercilessly Trolled For Enabling Obvious Pre-Loading Feature

After announcing earlier this week that Borderlands 3 would support pre-loading on all platforms 48 hours before launch in a Tweet that framed the news as the best thing since sliced bread, developer Gearbox was quickly reminded by the community that the addition of the feature isn't all that extraordinary. Here's when you'll finally be The post Borderlands 3 Devs Mercilessly Trolled For Enabling Obvious Pre-Loading Feature appeared first on CCN Markets

a year ago

How The Entertainment Industry Would Turn Into A Liquidity Source For Cryptocurrencies

Cryptocurrencies may be the best thing since sliced bread but they still have very limited liquidity in the grand scheme of things. What is liquidity? Well, it’s the classification we give to various assets to determine how fast they can be sold or how often we can use them in exchange for other goods and services. Right now, cryptos have very limited liquidity as they can either be used to buy other cryptos or just to buy fiat currencies. In order for the blockchain become what it’s currently being predicted to be in 10 years, we need to increase its reach to various goods and services without having to go through an exchange. Basically what I’m trying to say is that as long as people are able to pay with Bitcoin without having to change it into USD first, cryptos will remain relevant for pretty much the end of times. But right now, there are very few industries that cryptocurrencies can be adopted due to technical issues. Things like retail stores where most goods are purchased are still very popular with people who prefer using cash, and it’s not like these stores can prevent the usage of cash. Next comes the services that require customers to be present offline. These services are also much more popular through cash remuneration. Right now, all that Bitcoin and cryptocurrencies could be looking for, is adoption on a digital level, for which the economy is still being developed. How does the entertainment industry participate in this? There are not too many segments of the entertainment industry that can adopt cryptocurrencies at the moment, in fact, there are only two that I can think of which will definitely succeed. Oh, and by the way, they’re both in the process of adopting it on a massive scale. The gaming industry’s shortcomings Let’s talk about video games and the method that most players use to purchase them. When it comes to PC games, most players choose to buy them on Steam, a virtual game library, rather than purchase physical disks and store them somewhere and potentially expose them to degradation. Steam was pretty much just as revolutionary of an idea as blockchain at one point. Most industry experts were saying that nobody would even bother to buy games online, but surprise surprise, it’s the biggest video game marketplace. The value of Steam was that games could survive pretty much forever, while physical disks always had the chance of either breaking, becoming too fragile or simply degrading over the years. Many don’t know that Steam actually used to accept cryptocurrencies as viable payments on its platform. It was one of the few major liquidity sources available in the modern markets, where crypto enthusiasts could dump their assets by the millions and just purchase every single game they could get their hands on. I still remember the day I deposited some ETH and bought the Witcher 3. It was truly one of the moments where the value of the adoption of cryptos became clear. Unfortunately though, In around December 2017, Steam announced that they would stop accepting cryptocurrencies as viable payments due to the increased volatility of the digital assets and overall uncertainty. A month after this announcement, the crypto winter began. But now that the markets have “calmed down” somewhat, Steam could be considering another go at accepting crypto payments. Some gamers who are also big crypto fans say that simply adopting a native stablecoin would be just as beneficial for them as when Steam was accepting BTC. How much could Steam expect through crypto transactions though? In 2017 they got around $4.3 billion in revenue, and around 20-30% of that was through cryptocurrencies. In 2019, their revenue is projected to be $5 billion at least which guarantees that at least $1 billion worth of cryptocurrencies will find a liquidity source, thus promoting market growth immensely. Utility tokens in the dark side of the gaming industry Utility tokens in the gaming industry have already been a thing for about a year now. Crypto companies creating these tokens, usually offer them as intermediaries between the player and items they can buy through microtransactions, a sales strategy that is fast gaining popularity in the gaming world. Emphasis is on Utility token though, it’s important to note that security tokens are not welcome in the gaming industry, not by the developers, nor by the users themselves, however, there have been numerous cases of the “dark side of gaming” taking advantage of that type of coins. Most of this trend can be seen through online news websites and blogs. In fact, several bloggers have already commented on the issue. Jenna Norton, the editor of a newly established casino online news website said: “Throughout my 5 years of editing articles online and delivering quality news to the community, never have I ever seen a focus on a topic as much as the industry is now on cryptocurrencies. Three or even two years ago, the news was all about regulations or company officials changin

a year ago

CryptoZombies Ethereum Solidity Course Review

If you are a cryptocurrency enthusiast with computer science background, I’m sure you’ve wondered what all the fuss is about Ethereum and its smart contract language Solidity. There are so many different dApps these days that utilize the Ethereum blockchain, if you want to keep up with crypto tech you should at least familiarize yourself with Solidity. What is CryptoZombies? When I tried researching about Solidity and creating a smart contract, I’ve found so many tutorials that all seemed very basic in nature. Sure we can write a “hello world” contract, but where do we take it from here. Moreover, learning a new coding language can be daunting, especially if you’re short on time. This brings me to the CryptoZombies Ethereum Solidity course, it’s 100% free and teaches you how to create a basic game using Ethereum’s smart contract language. There are a total of three main parts with multiple sections in each one. The CryptoZombies Course The first part is Solidity Path: Beginner to Intermediate Smart Contracts, it contains a total of 6 chapters with each one becoming more and more complex. It took me roughly 6 hours to get through all the sections, by the end of it I definitely had a grasp on Solidity and many concepts simply made sense. The course starts off extremely basic and slowly transitions into more complex functions. You begin with a simple smart contract, then you build the Zombie and add some attributes to it, then you add some interactions with the Zombie such as having it eat other Zombies and even implementing the ability to eat other CryptoKitties. By the end of the first part you have a functional game that allows you to level up your zombie and battle other zombies. The second part is Hands-on Path: Make and Deploy a Custom Game Mode. In this part you will build a custom game mode for Loom’s blockchain-based card game Relentless (previously called Zombie Battleground). After you complete that course you should have the tools to create your own version of Relentless which you will be able to deploy to the blockchain and have other players participate in. The third part is Plasma Path: Learn how to use PlasmaCash. In this part you will learn about ERC721x Multi-Fungible Tokens and how they play into being used in a game that requires multiple amounts of the same item. For example, in a card game it would make sense to have multiple copies of the same card, the ERC721 standard which was used in the first part is non-fungible, meaning that only one type of such a token or item can exist. There are still more parts that will be added to all three parts of the course in the next few weeks. This course was originally made in January of 2018 so it’s still relatively new. Verdict Overall I would recommend this course to anyone who has an interest in cryptocurrency, regardless if you’re planning on coding smart contracts. Simply understanding exactly what Ethereum’s Gas is used for and how it interacts with the smart contract is already an extremely important concept that many still can’t wrap their head around. Moreover, going through the course will provide you with a more complete understanding of smart contracts. dApps are the bread and butter of cryptocurrency nowadays, staying up to date with the various concepts can only help you with getting a more complete understanding of the tech behind it. Last but not least, the course is 100% free! You have nothing to lose by giving it a try other than your time. The only downside to the course is it can get a tad boring at times, but boredom is part of learning any new thing. The fact that the course gamifys your experience definitely makes it more fun. You can give the course a try here: https://cryptozombies.io The post CryptoZombies Ethereum Solidity Course Review appeared first on NullTX.

a year ago

Blockchain companies on the ASX - Intelligent Investor

Question Hi Alan, what are your thoughts regarding blockchain technology and could/would you recommend any blockchain company or companies that are listed on the ASX. I’m a livestock producer and there is talk of how blockchain technology can be used to securely store data for animal meat trackability for food security, livestock bread data for

a year ago

Rejecting Libra: A Postscript On The Importance Of Decentralization

Following our open letter to non-crypto friends, the crucial topic of decentralization demanded further elaboration. Why is it at the heart of so many discussions in cryptocurrency? And why has the crypto community reacted to Facebook’s Libra project with a mixture of amusement, hope for mainstream acceptance, and naked hostility? Most importantly, we must not let the debate over Facebook’s intentions die down: while the hype cycle may have moved on, you can be sure that the people behind the Zuckerbuck are undeterred by the skeptical reaction to their payments mechanism. Decentralization is the key difference between Facebook’s centralized “cryptocurrency” and true cryptocurrency alternatives. And it’s more than just a matter of terminology, as we will see. Central vs. Free To understand the major differences between centralization and decentralization - at least from an economic perspective - think back to your time in high school. You might remember learning about different kinds of economies; free market economies, central economies, and economies that are a mix of the two. Free Market 101 On one side of the argument, you have free market, or for the sake of this illustration, decentralized economies. Free market economies are intended to allow the “invisible hand” of supply and demand to move the value of any given product. Competition is incentivized by the “profit-motive” — merchants make more money if people choose their superior product. Due to the natural desire to compete for profit in the ideal free market system, the consumer should get a better product at a better price. Centralized Economy 101 On the flip side, you have the central economy. In this system, a few (presumably wise) members of the population decide what is important to have available in society, and then consider what must be produced at a given cost. These elite few determine a reasonable price and eventually pass this on to consumers. Little or no competition exists, but everyone, ideally, has access to a given product. Relatively cheap prices can be maintained, as quality and quantity are dictated by the powers-that-be and paid equally to all suppliers. Of course, this centralized system has some pretty obvious problems. Firstly, if the powers-that-be miscalculate the need for a given product, supplies may run short. Secondly, there is little reason to compete; to be efficient and make enough of a product, or to try to make a better product for consumers to enjoy, since the reward is the same, regardless. Both types of economies have pros and cons. Neither is perfect, and neither of these brief descriptions truly encapsulates the competing economic ideologies of capitalism and communism. But let’s use these as a starting point. Who’s in charge of the bread? There is a humorous anecdote about life in England, from the perspective of a central economist. Mikhail Gorbachev, the last president of the Communist-era Soviet Union, sent an aide to London, who made a stunning observation. There was not a single breadline to be found anywhere in the city! Back in the Soviet Union, central agencies had been struggling to solve this problem - how to create a more efficient “bread supply system” for all people to have easy and affordable access to bread. They were amazed to see the efficiency of London’s system. Gorbachev’s aide exclaimed, “Please take me to meet the person in charge of supplying bread to London. I must learn his secret.” Of course, nobody was in charge of London’s bread supply system: or, everybody was, more accurately. This is the great advantage of a decentralized system, or a free market. Bread is supplied by market demands. It is not controlled by any one central agency, and that is precisely why it works so well... for a while. Ironically, the similarities between an unfettered free market economy and crony communism are remarkable, which suggests that all politics are, indeed, circular. The less regulation there is in a capitalist society, the more power is centralized in the form of a corpocracy; the more regulation there is in a communist society, the more power is centralized in the form of an oligarchy. Net result in both cases: a tiny fraction of the population have undue influence and power over the vast majority. It seems that a regulated free market is a pretty good thing. A balance between decentralized economic authority, and centralized social organization. In fact, this very argument is the basis for new experiments in cryptocurrency governance, experiments that may eventually lead to a better economic system for all participants. The general, simplistic theory illustrates why decentralization is so important. But how does this apply to cryptocurrency? Some examples... A number of cryptocurrencies stand out as being more decentralized than others. A few good examples are DigiByte, Decred, Ravencoin, Komodo, Holochain, and, of course, Bitcoin. A decentralized currency is, like London’s bread supply

a year ago

YouTube Bitcoin Evangelist Gives Crypto Scammer Taste of Own Medicine

Bitcoin is a powerful technology and movement. It stands for freedom and the crypto was designed to be decentralized so no single actor or party could ever control it. The idea of removing control from the governments and banks, while simultaneously being a breakthrough in bringing money into the digital age, has caused many to pledge a religious-like belief in Bitcoin, and work hard - just like early Christian evangelists - to spread the word about Bitcoin and educate the masses on why it is special. One of those evangelists, a Bitcoin YouTube influencer and educator, was recently the target of a crypto scammer. The YouTuber, however, was able to recognize the scammer’s intentions and turned the situation around - resulting in the scammer losing some of their own Bitcoin in the process and the funds being rerouted to charity. Crypto Scammer Ends Up Inadvertandly Donating Funds To Venezuelan Charity Thanks to Bitcoin YouTuber Ben Perrin, the host of YouTube channel BTC Sessions and marketing director at Bull Bitcoin, is ” Canada’s most popular YouTube Bitcoin educator,” spreading the good word about the crypto asset since 2016. Since then he’s amassed a following of well over 30,000 subscribers and over 2.5 million views across his YouTube content. Related Reading | Panera Bread, Porn, & Bitcoin At Center of Alleged Scandal Involving 86-Year-Old Woman His passion for Bitcoin has made him a notable figure in the crypto space, however, his public-facing popularity and involvement with the digital financial technology made him a target of a crypto scammer hoping to steal the Bitcoin he loves so dearly. But because Perrin is well-versed in crypto as a technology he was able to turn the tides on the scammer and give them a taste of their own medicine. “This morning I awoke on a beautiful holiday Monday in Canada to a message from a clear scammer, promising me untold fortunes if I just bestow some of my Bitcoin upon them,” Perrin explains. The YouTube influencer says from there he used a mix of photoshop, random blockchain transactions, and “social engineering” to teach the scammer a lesson they won’t soon forget. The scammer had offered to double Perrin’s Bitcoin investment within a day, and Perrin used normal skepticism to his advantage. He pretended to have received a similar offer from another person, who sent a “test” transaction to prove that what the person was offering was legitimate. He further backed up his story using the aforementioned blockchain transactions and photoshop to give validity to his claims. The scammer gave in, and sent Perrin $50 of Bitcoin that he then informed the scammer he would be keeping and donating to Bitcoin Venezuela, a charitable foundation aimed at helping Venezuelan citizens rely on Bitcoin over their native fiat currency, the bolivar - a currency that’s value has dropped so significantly, it’s nearly worthless, and its value only continues to fall. Related Reading | United States Regulators Begin Crack Down on Crypto and Bitcoin Crime In the end, the Bitcoin evangelist taught a scammer a valuable lesson, all while supporting an important cause. The crypto community could use more individuals like Perrin to drive the industry forward into a positive light, taking out the criminals tainting the digital asset class along the way. The post YouTube Bitcoin Evangelist Gives Crypto Scammer Taste of Own Medicine appeared first on NewsBTC.

a year ago

From Spartacus to Satoshi: A Brief History of Economic Rebellion

Government dominance of human beings via slavery and violent economic oppression is as old as government itself. For thousands and thousands of years kings and rulers, usually held to be “appointed by God,” have used free, non-violent individuals as their tax farm livestock to exploit for economic gain and political power. Without individuals with the grit to stand up and fight back in unique ways, the history books might read very differently. But lucky for everyone, they did exist, and continue to today. Also Read: How Governments Steal Your Money and Conceal It Through Inflation The Tax Slave State Throughout the history of governments worldwide, those who seem to be most severely punished, threatened, and hotly pursued are they who compromise the bread and butter of the state. Namely, the unethical and violent economic practices that give the individuals calling themselves government their power and security. The following list, while not comprehensive by any stretch, serves as a brief historical overview of notable freedom fighters who have challenged evil economic paradigms and inspired their fellow humans to rise up and take their own power back. In the wake of cases like Eric Garner (strangled to death for allegedly selling loose, untaxed cigarettes) and Ross Ulbricht, it seems a timely endeavor. Spartacus A gladiator slave turned rebel, Spartacus would defy Roman rule and escape the tax farm in 73 B.C., leading around 70 of his fellow slaves to freedom. Arming themselves only with kitchen implements, they fought their way out of the gladiator school at Capua and headed for defensive shelter on Mt. Vesuvius. Though gladiators are often depicted in modern times as ancient rockstars of sorts, the truth is that most were slaves to the Roman state, trained brutally and treated cruelly. Gladiators were forced to swear the oath where one “vows to endure to be burned, to be bound, to be beaten, and to be killed by the sword,” and served as tools of political influence for their owners. Though Spartacus would ultimately fall to the Roman sword, he assembled an army of 120,000 men, women, and children from nothing, and successfully challenged - and even defeated, at times - the most powerful empire in the world. His legend continues to serve as an inspiration for many struggling under the heavy hand of political exploitation and economic oppression. Robin Hood While some legendary characters become so surrounded by folklore they are impossible to trace historically, Robin Hood actually isn’t that mysterious, according to some sources. There are two main versions of the alleged historical character, the argued “real one” likely being not so polite and heroic as tradition would maintain, but more brutal and wild, coming to prominence sometime in the mid-14th century. All the same, Robert (or Robin) Hood is believed to have been pitted against the very real corrupt religio-political leaders of the time, which had taken to pilfering the poor via corrupt politics and threats of hellfire. Whether or not this character actually gave back to the poor habitually, or mostly stole money back from corrupt politicians for himself, is up for debate. What seems to stand up to scrutiny though, is that there was likely a real-life basis for the legend who was an excellent archer, often stood on the side of the downtrodden, and fought against the crooked powers of the time. The most powerful part of the story being the wild, justice-seeking spirit that still inspires courage in freedom-minded individuals today. Gandhi Taking a long walk to make and sell one’s own salt might not seem revolutionary, but in the context of Mohandas Gandhi’s times, this was an act of bold defiance. Traveling to the Arabian Sea to protest Britain’s 1882 Salt Act, Gandhi took with him 78 volunteers and walked 240 miles to the village of Dandi, to make salt from seawater. The act was illegal, despite the fact that British law and accompanying taxes were starving masses of Indians of the much needed mineral. Police beat Gandhi to the punch and pushed many salt deposits into the mud before his arrival. Nevertheless, the activist was able to remove a chunk of raw salt with his hand and raise it into the air, effectively breaking colonialist British law. 60,000 people were arrested as a result of the march and accompanying non-violent protests. Journalist Webb Miller described one scene at the Dharasana salt works: Scores of native policemen rushed upon the advancing marchers and rained blows on their heads with their steel-shod lathis [batons]. Not one of the marchers even raised an arm to fend off the blows. They went down like ten-pins. From where I stood I heard the sickening whack of the clubs on unprotected skulls ... Those struck down fell sprawling, unconscious or writhing in pain with fractured skulls or broken shoulders. It’s hard to imagine this level of brutality over salt, but these are the games government plays. As a lesser known, brie

a year ago

Cryptocurrency Exchange Rain Granted License from Bahrain’s Central Bank

Bahrain-based cryptocurrency exchange Rain has received regulatory approval from the Central Bank of Bahrain (CBB). The exchange launched after raising $2.5 million in a seed funding round led by BitMEX Ventures and Blockwater, a Kuwait-based cryptocurrency fund. According to a blog post from Rain, the exchange is now the first Middle Eastern cryptocurrency company to earn a regulatory license. Rain obtained the Crypto-Asset Module (CRA) license from CBB after completing the bank’s two-year regulatory sandbox program. “By becoming a licensed exchange, we are able to form more lasting relationships with our banking partners and payment processors,” the blog post reads. “This has led to more stable banking relationships, better pricing, lower fees, and more reliable deposit and withdrawal processes for our customers.” Among others, cryptocurrency heavyweights such as Jimmy Song, Mike Komarnsky of Cumberland Minings and the co-founders of BRD, Aaron Lasher and Aaron Voisone, participated in the funding round. With the new funding, Rain is expected to continue to develop infrastructure and invest in new technology, as well as expand its team. The post Cryptocurrency Exchange Rain Granted License from Bahrain’s Central Bank appeared first on Bitcoin Magazine.

a year ago

How Governments Steal Your Money and Conceal It Through Inflation

Dozens of countries all over the world have used the same trick called redenomination to hide how they have stolen their own citizens’ money through inflation or hyperinflation. The next nation to try this economic sleight of hand is the government of the Islamic Republic of Iran. Also Read: Global Crypto War Is Heating up - Iran Next in Line With Its Own Gold-Backed Coin Iran Cuts Four Zeros From Hyperinflated Rial According to recent media reports from Iran, the government in Tehran last week approved a major change to the country’s fiat currency presented by the Central Bank of Iran (CBI) back in January. Four zeros will be cut from the Iranian rial and it will also be completely replaced, gradually and over a two-year period, by a new currency going by an ancient name, the toman. “The council of ministers, at a meeting presided by President Hassan Rouhani this morning, approved the central bank’s proposed bill to change the national currency from the rial to the toman and delete four zeros,” the Fars news agency reported on Wednesday. This decision was made “to maintain the efficiency of the national currency and facilitate and restore the role of cash instruments in domestic monetary transactions,” Fars added. The Persian toman was used in the country until 1932 when it was replaced by the rial as the official currency. Out of habit, the people of Iran still use it as a monetary unit to this day to mean 10 rials, exactly at the rate it was replaced at almost 90 years ago. However, the new toman will be worth 100 rials, creating in effect another tenfold redenomination of the Iranian currency. The real reason for the Iranian government’s move is that the rial has been suffering from severe inflation in the last couple of years, dropping to exchange rates as low as 190,000 rials per US dollar last September. During 2018 alone it has lost about 60% of its purchasing power, wiping out most of the value of people’s savings and earnings. This process started in December 2017 when the Iranian government decided to cut interest rates on savings accounts in an effort to boost exports. It was kicked into high gear with the help of another round of U.S. financial sanctions over the country’s nuclear program. The Iranian government later tried to correct course but its actions have been mostly futile and some have even backfired. For example, setting the official exchange rate at about 45,000 rials to USD caused a new online black market to spring up where people now use instant messaging apps to trade at real prices outside the control of the government and its approved money changers. A Long History of Hiding Failure Iran did not invent the idea of cutting zeros off its currency to hide its diminishing worth, of course, and it is just the latest in a long line of countries that have done the same over the years. In fact, fiat redenominations have being going on for over a century now, with some countries doing it over and over again whenever inflation pops up such as Brazil and Argentina. Sometimes it has coincided with an improvement of the local economy but often it has merely hastened its approaching collapse. In recent years this has been most notable in the case of countries suffering from hyperinflation such as Zimbabwe and Venezuela. In February 2009 the government of Zimbabwe decided to cut 12 zeros from its currency, after the Zimbabwe dollar set a new world record in hyperinflation estimated to be in the billions of percent. This meant that 1 trillion in old Zimbabwe dollars was at once made equivalent to just one new Zimbabwe dollar. The step was taken after the old currency became basically useless as money, with even the highest notes of 100 trillion dollars not worth enough to buy a single loaf of bread. Just the year before, Zimbabwe already cut 10 zeros off its currency. In August 2018 the Venezuelan government removed five zeros off its fiat as President Nicolas Maduro decided that the new “sovereign bolivar” would officially be worth 100,000 times the older bolivar. Just 10 years prior, Venezuela cut three zeros off its currency. Maduro also claims that the sovereign bolivar is backed by the dubious petro cryptocurrency he created. Why Redenomination Fails to Make an Impact Governments and central banks present several reasons for making such drastic redenominations. Some are practical, such as saving people the trouble of having to use a wheelbarrow full of paper money just to get a loaf of bread to feed their family. Others are purely psychological, such as restoring ordinary people’s confidence in the national economy by making the currency look like it’s worth more in international terms. These appear to be more honest, as the real purpose is after all to hide the fact that the people in power have wiped out national savings through disastrous policies such as endless money printing. According to economic research, redenomination has a long term impact on an economy only when it is acco

a year ago

Bitcoin Cash 2-Year Anniversary: Celebrating Protocol Development and Achievements

Today Bitcoin Cash (BCH) fans from all around the world will be celebrating the 2-year anniversary of the BCH network. The day is a great occasion to commemorate the dedicated BCH software engineers and the passionate community, alongside the number of achievements accomplished since August 1, 2017. Also Read: Btc.top CEO Highlights the Benefits and ‘Golden Mean’ of Bitcoin Cash Bitcoin Cash Block 478559 Fervent supporters of the Bitcoin Cash blockchain will be gathering together today to celebrate August 1, 2017, the day the BTC chain split into two. The reason BCH exists is due to the fact that a large group of bitcoiners, crypto company executives, early adopters, and developers believed the Bitcoin Core (BTC) development team strangled scaling. The arguments began years ago when the chain’s block size started to fill up and more users utilized on-chain settlement. Core developers decided to remain stubborn and keep the block size at 1MB and in 2017, the debate escalated when tens of thousands of transactions were congested in the network backlog and transaction fees grew astronomical. Before the implementation of Segregated Witness on the BTC network, pools of SHA-256 miners hard forked at 2:14 p.m. EST on August 1, 2017. The Bitcoin Cash (BCH) fork was initiated when the mining pool Viabtc mined the first Bitcoin Cash block (478559). The first Bitcoin Cash block was 1915175 Bytes or 1.9 MB in size, holding 6,985 transactions. That Tuesday, the BCH hashrate started out at around 247 petahash per second (PH/s) or 4% of the BTC network’s hashrate. On August 2, BCH captured the third highest valued market valuation, beating out Litecoin in capitalization. Over the course of the first few days, BCH miners processed six ‘big blocks’ (over 1MB) between August 1-4 and two of them were over 4MB. On August 16 at approximately 8 a.m. EST, an 8MB block was mined on the BCH chain at block height 479469, which processed more than 37,000 transactions. Two days later on Friday, August 18, Bitcoin Cash mining was 21 percent more profitable than mining bitcoin core (BTC). After that specific weekend, BCH hashpower was 20% of the BTC chain’s hashrate on August 21, with 2 exahash per second (EH/s) mining the chain. Since then there’s been a total of 25 major Bitcoin Cash development proposals completed or pending activation on the main chain. Big Blocks and Over 2 Million Transactions in One Day All of the completed developments over the last two years can be seen at the data analytics site Coin Dance alongside BCH protocols under development and under discussion. Bitcoin Cash developers have delivered a lot of code in two years, and many achievements are very unique to the BCH chain. For instance, when the network started, the BCH chain had an 8MB block size limit which was tested on various occasions. After May 2018, the chain bumped the block size limit up to 32MB and even bigger blocks were tested after the feature was added. The Bitcoin Cash blockchain raised the block size limit to 32MB in May 2018. In September, BCH miners processed blocks between 15-23MB in size on the main chain. During the ‘stress-tests’ in September, data had shown that the BCH chain handled more than 2.4 million transactions in a 24-hour period. On November 10, 2018, a few 32MB blocks were mined by the mining operation BMG Pool. Every big block processed on the BCH chain had cleared the mempool (backlog of transactions broadcast to nodes) in one fell swoop. A number of big block tests and further experiments from developers had proved that Bitcoin Cash can scale. Delivered Code and Protocol Development Additionally, software developers have added a great number of technical features that have invigorated innovation. Engineers have re-enabled the old Satoshi opcodes, increased the data-carrier-size from 80 bytes to 220, and implemented the Script operation OP_Checkdatasig. These features allow for an inexpensive way to embed arbitrary data into the main chain, give support to smart contract concepts, oracle creation, decision-based transactions, and more decentralized creations. Bitcoin Cash programmers worked together to design Cashshuffle, and the first privacy-centric solution for BCH was born. Cashshuffle has seen millions of dollars worth of BCH shuffled since the project launched on the Electron Cash light wallet. In time, other BCH clients like Bitcoin.com’s Wallet will be integrating the Cashshuffle code, allowing for larger liquidity when it comes to mixing bitcoin cash. Over a 100,000 BCH has been shuffled with the Cashshuffle protocol since March. BCH developers have also implemented the basic operations for Schnorr signatures on the main chain. The Schnorr concept was designed by Claus Schnorr and BCH developers added the signature technique to the chain at block height 582680. In the future, Schnorr could enhance scaling and privacy a great deal with further upgrades. For now, Schnorr transactions can still create unique transact

a year ago

Crypto Assets Tank, Lose 5% in Minutes as Bitcoin Fails to Hold $10,000

Would you look at that — over the past 30 minutes, crypto assets have tanked. In a matter of about ten minutes, most large-cap altcoins, including Ethereum, XRP, and Litecoin, shed approximately 5% on average. The sell-off in the price of Bitcoin was the catalyst in this case, which in and of itself caught many traders with their pants down. With this move, Bitcoin dominance slipped, falling by 0.4% as the crypto asset class dumped in unison. This means that relative to altcoins, BTC actually fell further. Related Reading: Panera Bread, Porn, & Bitcoin At Center of Alleged Scandal Involving 86-Year-Old Woman This slight drop goes against the common trend seen in this phase in the cryptocurrency cycle, during which Bitcoin dominance actually rallied higher as BTC saw volatility. What’s Next For the Crypto Market? With this drop in mind, which sent Ethereum to flirt with $210, what exactly are analysts thinking is next? Well, for Bitcoin, a further move to the downside might just make sense. According to Mohit Sorout, a crypto investor, Bitcoin closing under $9,500 on the four-hour chart will result in a subsequent move to $8,500. Related Reading: Bitcoin Historical Monthly Performance Could Shed Light on What’s Next for Crypto Sorout’s expectations line up with those put forth by Mike Novogratz, the chief executive of crypto merchant bank Galaxy Digital. Novogratz yesterday told a Canadian television outlet that he expects for a healthy consolidation, with $8,500 being the key price point to watch over the next few weeks. He claims that this level, which is where the closest CME gap is, should act as a low in this move lower. If the current trend in Bitcoin dominance continues, this move lower could result in altcoins continuing to rally against BTC even more. Featured Image from Shutterstock. Chart Courtesy of Tradingview.com The post Crypto Assets Tank, Lose 5% in Minutes as Bitcoin Fails to Hold $10,000 appeared first on NewsBTC.

a year ago

Panera Bread, Porn, & Bitcoin At Center of Alleged Scandal Involving 86-Year-Old Woman

Let’s face it, there aren’t many instances where you can imagine a story entailing Bitcoin, porn, and Panera Bread, but that’s exactly the case with an 86-year-old Chicago woman. The tech-savvy elderly woman was able to connect the dots as to how a Bitcoin extortionist was able to find her through a data leak stemming from a Panera Bread rewards account she signed up for to receive a free bagel on her birthday. Birthday Bagel Turns into Bitcoin Extortion Scam and Porn-Related Threats While its certainly a stereotype and outliers exist - just like the 86-year-old woman at the center of this story - most elderly aren’t exactly the most tech-savvy of internet users. There are communities dedicated to this common stereotype such as “Old People Facebook” on Reddit. However, Arlene Kaganove from Chicago doesn’t fall victim to such stereotypes and because of it, she also didn’t fall victim to a Bitcoin extortion scandal. Related Reading | Bitcoin Extortionists Turn From Blackmail to Bomb Threats The 86-year-old woman was shocked to find threatening emails sent to her accusing her of watching porn, which she says is “hilarious.” “They told me I have very good taste in porn so I thought that was nice,” Kaganove said, showing how lighthearted she looked at what could otherwise have been a scary situation. The extortionists were demanding $1,400 in Bitcoin, but the woman has two masters degrees in chemistry and law, and despite saying the hackers would only see “a little old lady cursing at the computer,” she is far savvier than the cybercriminals took her for. Kaganove kept detailed notes about what password she used to sign up for what. She claims to sign up for many free programs, including one from Panera Bread to receive birthday rewards. But because she did keep notes, she realized that the crypto-seeking criminals were allegedly related to Panera Bread, which suffered a massive data breach back in April 2018 that saw millions of customer’s data leaked. Panera denies the allegations in a statement, saying that no “MyPanera Rewards account passwords were exposed during the April 2018 incident,” and that “Arlene’s account was not accessed improperly.” Related Reading | Crypto and Bitcoin Ransom: A Rapidly Growing Trend Whatever transpired, Arlene was able to realize the threat was nothing more than a scam and called the police. She doesn’t want others to fall victim to the scam. “If they are sending six [letters] to me, they are sending a lot more to people,” she said. “I am sure someone is sending them money.” Six months ago, this NewsBTC journalist also received a similar threat, with similar claims as the one Arlene received. The scam is widespread and is reaching everyone from tech-savvy crypto journalists to innocent old ladies seeking a free bagel. The one common thread amongst these is that the scammers have zero proof of the threats they are making, and hoping to scare people into sending funds. If this happens to you, contact your local authorities. The post Panera Bread, Porn, & Bitcoin At Center of Alleged Scandal Involving 86-Year-Old Woman appeared first on NewsBTC.

a year ago

Bitcoin Cash Adoption Continues to Spread in North Queensland and Japan

BCH merchant acceptance has continued to grow month after month but there are a few regions in the world where bitcoin cash retail acceptance is thriving. Over the last few weeks, North Queensland and Japan have shown significant growth and continue to dominate as some of the densest territories of BCH merchant adoption worldwide. Also read: Bitcoin Futures Update: Bakkt Testing, CME Breaks Records, and a $100K Call Option Bitcoin Cash Is Spreading Throughout Japan and North Queensland Both North Queensland and Japan are areas which have continued to see bitcoin cash (BCH) merchant adoption spread widely. The two regions are among the highest concentrations of BCH merchant acceptance in the world beside Slovenia (343 BCH merchants). Right now you can search these bitcoin cash hotspots using the application Marco Coino to find a specific type of merchant who accepts BCH for goods and services. More recently these areas have seen new developments, increased BCH merchant adoption, and local supporters spreading more ideas with the purpose of bolstering the BCH network effect. Japan The island country of Japan has seen a vast amount of merchant adoption throughout the region. So far, Japan has a total of 87 bitcoin cash accepting retailers strewn across the city of Tokyo and in other towns as well. Things really started heating up for cryptocurrencies in Japan when the country’s leaders revised the Payment Services Act, which officially legalized the use of digital currencies as a means of payment in April 2017. Right now, Japan is the third densest region of bitcoin cash accepting merchants. 87 BCH-accepting merchants in Japan according to Marco Coino data. For people traveling to Japan or those that live there, they can visit the website Bitcoin.jp to see a description of the many BCH retailers in the region. There are eating establishments and bars like Two Dogs Taproom, Pink Cow Akasaka, Daikanyama O’KOK, and Downtown B’s. Japan has BCH-accepting nightclubs like the Mezzo, V2, Ele, and Villa. You can buy luxury watches from one of many Yukizaki stores or get your hair done at the hair salon F.line. There’s also chiropractic services, co-working space, clinical therapy, legal services, and more. The website lists each BCH-accepting retailer via a variety of descriptors which detail what kind of goods and services the business offers. The Bitcoin.jp website has a list of categorized retailers who accept bitcoin cash for goods and services. The Bitcoin.jp website also has various links to educational resources about BCH so new visitors can learn about the protocol and how it works. It also shows visitors bitcoin cash compatible wallets like the Bitcoin.com Wallet, BRD, Edge, and Ginco. In addition to physical merchants accepting BCH, the website details a slew of online merchants and application services that can be used with BCH as well. The website is an insightful portal that promotes the educational aspects, spreading use cases, and most importantly retail adoption at the forefront of the movement. The reason there are so many BCH merchants is due to the group of crypto supporters who reside in Japan and are prominent members of the Tokyo BCH meetup. There are approximately 1,430 members with many active participants meeting up regularly at some of the clubs or eateries mentioned above. On Thursday, August 1 the group’s members plan to celebrate the 2nd Year Bitcoin Cash Independence Day anniversary and there are already 128 attendees. Hi all! Tokyo #BCH Meetup is working hard organizing #BitcoinCash's 2nd Year Anniversary party for Thurs Aug 1!😀 We have updated the details. Please rsvp from below link👍A huge thanks to@BRDHQ and @BitcoinCom for being the Platinum Sponsors!!✨https://t.co/t0o1XCNGs2 pic.twitter.com/HDPwcaF16v — Akane Yokoo (@YokooAkane) July 20, 2019 “This day represents a group of enthusiasts coming together to protect the original goals of what Bitcoin was created for,” explains the Tokyo BCH Meetup co-organizer Akane Yokoo. The celebration will be hosted at V2 Tokyo (Roppongi) from 7:00 p.m. - 10:30 p.m. and will feature a special presentation on the Avalanche protocol. Special guests will be speaking including Bitcoin.com’s Roger Ver, BRD CEO Adam Traidman, and Edge Wallet CEO Paul Puey. North Queensland, Australia At the moment the northern part of the Australian state of Queensland has approximately 132 bitcoin cash accepting retailers. A large portion of merchants according to Marco Coino data reside in Townsville, the biggest urban center in North Queensland (NQ). On June 17, news.Bitcoin.com spoke with Coinspice Chief Media Correspondent Hayden Otto about the massive amounts of adoption in NQ. 132 merchants in NQ who accept BCH according to Marco Coino data. Otto said adoption started years ago and many of the people accepting BTC switched after the fork because “they were immune to Blockstream/Core narratives.” On Monday, Otto revealed he is giving away 100 BCH point-of-sale

a year ago

Hayek’s 1984: Rediscovered Footage Shows Austrian Economist Predicting Bitcoin

Born in 1899 in Vienna, Nobel Prize-winning economist F.A. Hayek is a legend of sorts in voluntaryist, libertarian, and crypto-economic circles. Freshly rediscovered video footage of the Austrian School philosopher and social theorist from 1984 is now making the rounds on crypto Twitter. In a stunning soundbite of an already well-known quote, Hayek declares that the only way to return to sound money is to take it out of the hands of government. He goes on to describe in spine-chillingly fortuitous fashion a money that requires no permission, and no central “authority.” Also read: Money Laundering Fines Worth Billions Help Bankers Avoid Prosecution and Unpleasant Labels The Prescience of Hayek “I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something they can’t stop.” So spoke Friedrich Hayek in 1984. Reevaluating those words 35 years hence and it is hard not to interpret them in the context of Bitcoin. Hayek was not alone in predicting the coming phenomenon of crypto in the 1980s. The Crypto Anarchist Manifesto of 1988 also called it way beforehand. As did American economist Milton Friedman in 1999: The one thing that’s missing, but that will soon be developed, it’s a reliable e-cash. A method where buying on the Internet you can transfer funds from A to B, without A knowing B or B knowing A. The way in which I can take a 20 dollar bill and hand it over to you and there’s no record of where it came from. And you may get that without knowing who I am. That kind of thing will develop on the Internet. The common thread among these striking predictions is, of course, the internet. Many thought it was crazy back in the early and mid-90s to talk of “working online” or “online shopping.” To try and imagine a permissionless future currency not regulated by the government would have been beyond the pale for most. And yet, bitcoin is here. They were right. The Keynesian/Austrian Clash Hayek was a key thinker and innovator of the Austrian school of economics. The Austrian system is a classic economic model in which government interference in the free market is undesired and viewed as harmful and illogical. The conflicting viewpoint and economic model which holds sway today, the Keynesian system, submits that governments must be actively involved in economies via centralized regulation and force-backed implementation of monetary policy. While the view of almost all modern nation states is that interest rates must be set via policy—this would, in fact, be defined as a form of policing—adherents to the Austrian School view the market as an organic entity functioning by its own natural rules. Boom and bust cycles in business, and things like stock market crashes are the natural consequence of artificially instituted credit bubbles. The Knowledge Problem Friedrich Hayek’s most important contribution to the Austrian school, arguably, is the concept known as the knowledge problem, or the “local knowledge problem.” A kind of derivative and extension of fellow Austrian School thinker Ludwig von Mises’ economic calculation problem, the knowledge problem deals with the fundamental dysfunction of central planning. In his 1945 work “The Use of Knowledge” Hayek states: ...the knowledge of the particular circumstances of time and place. It is with respect to this that practically every individual has some advantage over all others because he possesses unique information of which beneficial use might be made, but of which use can be made only if the decisions depending on it are left to him or are made with his active cooperation. In this sense, centralized economic planning is doomed to fail. Whereas aggregated data, stats, and relatively “stable” numbers may present one picture, these are the effects of individual market actors and their demonstrated preferences, and not central planning. That is to say, relative stability is achieved as a byproduct of individual, independent, atomized market signals. This in spite — and not because — of central planning. Individual Nodes in a Free Market ‘Blockchain’ Unique, diverse knowledge possessed by each individual market actor (i.e. “The factory is out of nails, I must replace them” or “I could invent this great device, if only I had more affordable access to that specific resource”) cannot be processed, understood, or adequately detected by a synthetic, centrally regulated entity according to Austrian school thinking. Supply and demand cannot be “felt” accurately. Thus, huge boom and bust cycles are seen, and are considered relatively stable when in fact this is a kind of ex post facto approach to the data. In a very real sense, Austrian economic theory advocates decentralized, “permissionless” networks of nodes (autonomous market actors) much like bitcoin and the decentralized network of actors on th

a year ago

BRD Partners With Coinberry for Expedited Crypto Purchasing, Industry Low Fees

BRD, one of the most secure cryptocurrency mobile wallets, trusted by over 2 million users in 170 countries, now enables Canadian customers to purchase bitcoin, ether and bitcoin cash for some of the lowest fees in the industry. Through its partnership with the fast-growing Canadian crypto trading platform Coinberry, BRD’s Canadian customers will be able to buy via credit card, wire or, most notably, e-Transfer, for near-instant funding and fast KYC which can be completed in just a few minutes. The new partnership will enable BRD to source the best possible prices for customers and provide an enhanced purchasing experience. “Coinberry’s low cost and high-speed solution allows us to serve the rapidly growing Canadian market to the best of our ability,” said Kirill Gertman, vice president of product at BRD. “We are confident that Coinberry will help us in delivering the best prices and best experience to our users.” The partnership allows for greater speed when making crypto purchases, due to the ability to utilize e-Transfer. Using e-Transfer, users are able to fund an account in minutes and can begin trading soon thereafter. “At Coinberry, we focus on providing the easiest and safest way for people to buy and sell cryptocurrencies. We are happy to be able to offer our best-in-class rates, and our safe and highly effective solution to BRD’s 80,000 Canadian users,” said Coinberry CEO Andrei Poliakov. The Coinberry integration will allow BRD to: Offer a fast KYC experienceFund user accounts in minutes thanks to e-TransferSource the best prices possible for usersOffer industry low feesProvide an enhanced user experience with fast support Coinberry is spearheading crypto adoption in Canada and is currently the only official processor of tax payments made in bitcoin for a number of Canadian municipalities. Its robust platform and commitment to customer service made them the perfect partner for BRD’s expanded services. BRD provides consumers and retail investors with the simplest way to get started with bitcoin and cryptocurrencies. Customers have flexibility in making purchases using credit cards, checking accounts, cash or other cryptocurrencies. BRD also employs an industry-leading security and privacy model that is both truly decentralized and leverages the latest security technologies available on mobile platforms. With an estimated over $6 billion worth of crypto assets under protection, BRD remains the most trusted bitcoin and cryptocurrency mobile wallet available. Its industry-leading global support team has an average response time of under 90 minutes, allowing for any customer questions to be answered quickly. The BRD app is available for download from the App Store or Google Play. For more information, please visit BRD at www.BRD.com. About BRD BRD is a global company that’s bringing blockchain-enabled financial services to the mobile generation. It provides consumers with the simplest and the most secure way to buy and protect bitcoin and other cryptocurrencies. Launched in 2015 and headquartered in Zurich (Switzerland), BRD is a venture-backed company which has raised $55 million from top investors focused on banking, fintech and blockchain technology. BRD’s crypto apps are available for both iOS and Android in over 171 countries. With over 2 million customers worldwide, BRD has accumulated an estimated $6 billion of crypto assets under protection and is one of the fastest growing blockchain-enabled finance apps for everyday consumers (a top-10 finance app in 71 countries). About Coinberry Limited Coinberry is a Toronto-based, FINTRAC-registered, financial technology solutions provider focused on blockchain and digital currency solutions. Coinberry operates the Coinberry.com trading platform, offering members the simplest and most trusted way to buy, sell and process payments made with bitcoin, ether and other cryptocurrencies. Leading the way for bitcoin and cryptocurrency adoption in Canada, as the country’s most innovative and trustworthy digital currency platform, Coinberry is the only municipal government cryptocurrency payment processing provider in Canada. The post BRD Partners With Coinberry for Expedited Crypto Purchasing, Industry Low Fees appeared first on Bitcoin Magazine.

a year ago

PR: Bitcoin.com Wallet Joins Blockchain Consortium FIO

Popular BCH and BTC wallet joins Foundation for Interwallet Operability (FIO) to improve crypto usability across blockchains DENVER, CO — 16 July 2019: Bitcoin.com wallet, the official wallet of Bitcoin.com, has joined the Foundation for Interwallet Operability (FIO) in a move that will assist the wave of new users who are expected to join cryptocurrency markets as a result of June’s recent coin and token price increase. As the newest member of the FIO, Bitcoin.com wallet joins a consortium of 23 other leading companies in the crypto ecosystem, including Binance’s Trust Wallet, BRD Wallet, ShapeShift, MyCrypto, Edge Wallet and Coinomi Wallet. The FIO Protocol is a decentralized service layer that enables several major usability features across any blockchain, token or coin. This includes functionality that puts an end to the need for a 64-character gibberish alphanumeric string to transfer crypto, integrated request for payment workflow that virtually eliminates errors when sending crypto and standardized metadata that provides context for the purpose of a transaction. Future roadmap items include subscription billing, multi-signature routing for security and cross-wallet data visibility. “Crypto usability is still one of the biggest challenges the industry has to solve and our new relationship with the FIO is all about trying to find a solution to this big issue, ” said Stefan Rust, Global Head of Business Development of Bitcoin.com. “With prices rising once again, we’re likely to see more and more new entrants everyday. Therefore, we should be trying to ensure crypto is as easy as possible to use, which is why we have joined this consortium of leading companies already involved in the FIO.” One of the main attacks that the FIO Protocol can help deflect is a keylogger attack, where the hacker can covertly monitor and record keystrokes. In addition, the FIO Protocol can be used to send public addresses in a more secure way than via email or text, eliminating the risk of man in the middle attacks. A usability survey conducted by the FIO found that 75% of crypto users are less than completely confident when they send blockchain tokens and coins, and more than half experienced problems with transactions during 2018. “Our research tells us that even those users who consider themselves comfortable with crypto are still not completely confident things will go as planned when engaging in blockchain transactions. We need to ensure they and all the new entrants we expect to see have a user experience across all blockchains that is easy and accurate, which is why it’s fantastic to have such a popular wallet as Bitcoin.com join the consortium and help us fulfill our mission for crypto usability,” commented David Gold, Founder and CEO of Dapix, the team behind the protocol’s development. The addition of Bitcoin.com wallet to the FIO consortium comes after ChangeNOW joined in June and Enjin Wallet joined in April. FIO sits alongside all other blockchains, providing a decentralized layer of messaging, communication and workflow about the sending of value on those blockchains. FIO does not send crypto value—it makes the sending of value on any blockchain better. Additionally, FIO is not a wallet—it enables all wallets to be safer and more user-friendly. Crypto wallets, exchanges and payment processors can learn more about the Foundation, as well as the benefits of becoming a member, by visiting https://fio.foundation/. -ends- For further information, please see: FIO Protocol PR Contact: Frances Wells Cryptoland PR US: 866-586-5603 UK: +44 020 3908 5686frances@cryptolandpr.com About FIO Protocol: The Foundation for Interwallet Operability (FIO) is a consortium of leading wallets, exchange, and crypto payment processors supporting the FIO Protocol — a decentralized Service Layer that removes the risk, complexity, and inconvenience of sending and receiving tokens and coins identically across every blockchain. The FIO Protocol is not a wallet and does not compete with other blockchains, rather, it makes the user experience better across every wallet and every blockchain. To learn more visit: https://fio.foundation/ The post PR: Bitcoin.com Wallet Joins Blockchain Consortium FIO appeared first on Bitcoin News.

a year ago

CD Large-Cap Index Weaker Despite Bitcoin’s Push to 13,000

The CryptoDaily 21 Leaders Cryptocurrency Index closed lower at 50.62 on Tuesday from 51.45 on Monday, a 1.61% decline. The 21 Leaders Index is up 0.77% over the past 7 days and is up 11.20% over the past 30 days. Chainlink (LINK) declined 5.7% to a market capitalisation of US$ 1.09 billion as traders continue to await a possible announcement of a relationship with Microsoft. Zcash (ZEC) depreciated 5.1% while Bitcoin Gold (BTG) led the advancers with a +4.7% gain. The CryptoDaily Large-Cap Cryptocurrency Index slumped to 36.09 on Tuesday from 36.37 on Monday, a 0.77% fall. The Large-Cap Index is up 3.41% over the past 7 days and is up +19.74% over the past 30 days. HyperCash (HC) weakened 6.9% to a market capitalisation of US$ 196.77 million while OmiseGO (OMG) shed 6.0% to a market capitalisation of US$ 342.1 million. In addition to Bitcoin Gold’s (BTG) 4.7% climb, Bitcoin (BTC) appreciated 2.7% to a market capitalisation of US$ 223.89 billion. The CryptoDaily Mid-Cap Cryptocurrency Index weakened to 46.53 on Tuesday from 46.87 on Monday, a 0.72% slide. The Mid-Cap Index is up 2.51% over the past 7 days and is off 4.24% over the past 30 days. Dent (DENT) was dented 17.0% to US$ 82.82 million despite news about the upcoming enhanced user interface (UI) for mobile data trading. NULS (NULS) gave back 6.3% to a market capitalisation of US$ 63.98 million while Ren (REN) was up 34.5% to a market capitalisation of US$ 79.39 million. The CryptoDaily Small-Cap Cryptocurrency Index strengthened to 2.77 on Tuesday from 2.73 on Monday, a 1.47% improvement. The Small-Cap Index is up 1.09% over the past 7 days and is off 8.88% over the past 30 days. Comet (CMT) rallied a significant 35.8% to a market capitalisation of US$ 52.89 million and Tierion (TNT) gained +10.1% to a market capitalisation of US$ 26.97 million as its price moved back above BTC 0.00000500. Bread (BRD) led the laggards with a 7.4% decline.

a year ago

CD 21 Leaders Index Zooms Higher on Bitcoin and Bitcoin Gold Pops

The CryptoDaily 21 Leaders Cryptocurrency Index rallied sharply to 51.45 on Monday from 49.62 on Sunday, a 3.68% gain. The 21 Leaders Index is up 3.33% over the past 7 days and is up 8.31% over the past 30 days. Bitcoin (BTC) appreciated 7.7% to a market capitalisation of US$ 218.75 billion. Bitcoin Gold (BTG) improved 6.1% as traders reacted to news that Bitcoin Gold can be used on the Paytomat mobile application. Cosmos (ATOM) was the biggest laggard with a 4.1% pullback. The CryptoDaily Large-Cap Cryptocurrency Index vaulted to 36.37 on Monday from 34.71 on Sunday, a 4.78% jump. The Large-Cap Index is up 4.57% over the past 7 days and is up +16.09% over the past 30 days. In addition to Bitcoin’s (BTC) +7.7% gain and Bitcoin Gold’s (BTG) +6.1% appreciation, OmiseGo (OMG) rallied +7.9% to a market capitalisation of US$ 362.02 million as its price rallied to BTC 0.000228. BitTorrent (BTT) led laggards with a 7.3% fall. The CryptoDaily Mid-Cap Cryptocurrency Index weakened to 46.87 on Monday from 47.51 on Sunday, a 1.34% slide. The Mid-Cap Index is up 2.83% over the past 7 days and is off 6.07% over the past 30 days. Komodo (KMD) shed 12.6% to a market capitalisation of US$ 173.13 million as it fell back below BTC 0.000125. Waltonchain (WTC) extended recent losses and fell 10.3% while Dent (DENT) led gainers with a +10.3% improvement. The CryptoDaily Small-Cap Cryptocurrency Index weakened to 2.73 on Monday from 2.82 on Sunday, a 3.19% decline. The Small-Cap Index is up 0.37% over the past 7 days and is off 10.78% over the past 30 days. Populous (PPT) reversed some recent gains and declined 18.9% to a market capitalisation of US$ 44.59 million. Harmony (ONE) depreciated to 10.9% while Bread (BRD) led gainers with a +13.2% jump.

a year ago

Pay People Not To Vote: Dan Larimer’s Radical Solution to EOS Vote Buying

EOS has been wracked by issues of governance and centralization during its first year of existence. However, the most pressing issue is a simple one: vote buying. The community is searching for solutions, and now, Dan Larimer, the CTO of Block.One, has proposed a radical fix―which ironically involves encouraging people not to vote. The Problem With EOS Voting EOS relies on a system called delegated proof-of-stake, which allows holders of the EOS token to vote for block producers. EOS holders can also vote in referendums, but block producer elections are the blockchain’s bread and butter. Basically, elected block producers govern EOS and represent the interests of EOS token holders. However, there are a few problems that come along with EOS’s democratic voting model: First of all, many investors consider EOS a speculative investment, so they hold EOS tokens, but do not vote. Secondly, many users store their EOS on an exchange, which gives those exchanges plenty of power when it comes to voting. These problems have resulted in allegations of vote buying scandals. Huobi and several other EOS block producers allegedly engaged in a mutual vote buying scheme in October 2018. In a separate incident, a block producer called StartEOS attempted to explicitly buy votes from EOS users. Finding a Solution The simplest way to solve vote buying merely involves encouraging users to vote so that their voices are heard. However, this is easier said than done: block producers and exchanges have plenty of voting power, and they are more motivated to vote than basic users. As such, workable solutions require complex changes and additions to EOS. One part of the solution involves EOS REX, a new resource exchange that allows EOS users to earn revenue. REX requires users to vote for 21 block producers in order to use the system. This gives users a reason to vote―but it is only a partial solution, since not everyone cares about REX. Brendan Blumer, CEO of Block.one, has also proposed a more complex solution. He suggests a “one token, one vote” system, in which a single vote carries more weight than several votes. This voting model should eliminate mutual voting cartels, and it should also increase voter turnout, among other things. Larimer’s Radical Proposal This brings us to EOS creator Dan Larimer’s latest proposal. He suggests paying users not to vote. This idea may sound counter-intuitive, but it is easy to see how it might prevent vote buying. As Larimer explains, his idea essentially involves outbidding exchanges and block producers that want to buy votes. He writes: If you want to ... discourage vote buying, the best solution is to outbid the vote buyers by using inflation to pay those who don’t vote ... Exchanges will likely follow the money. The vote buying will end. Make people choose between control and profit.Dan Larimer, CTO of Block.One Larimer’s proposal is the direct opposite of almost every other solution that has been proposed, since it doesn’t attempt to encourage voter participation. It would also require REX to change its incentive model―that is, users would need to abstain from voting in order to use the resource exchange. The proposal is also in conflict with Blumer’s “one token, one vote” proposal. Larimer suggests that his own proposal will move toward a de facto “one user, one vote” model. That is, if EOS holders have a reason not to vote, even the largest exchanges and block producers will cast very few votes. The Wider Implications Larimer’s proposal may or may not succeed, but if it does, EOS’s critics will probably see the change as evidence of EOS’s overwhelming centralization. Larimer acknowledges this: “Paying people to give up control will centralize things, but fairly...the only way to decentralize power from exchanges is to pay exchanges not to vote.” EOS has always been controversial due to its centralized nature. It does, after all, centralize power in the hands of just 21 block producers. However, this must be considered in light of the fact that other blockchains experience centralization too: Bitmain, for example, has at times heavily dominated Bitcoin mining. This means that if you are feeling favorable toward Larimer, EOS isn’t merely embracing centralization. Instead, it is bracing itself for the inevitable reality of centralization and adapting itself as problems arise. Of course, adaptations can have unwanted side effects, so EOS’s solutions to centralization may be a bandage at best. If that is true, modifications to EOS voting can only change so much. Voting doesn’t necessarily increase or decrease EOS’s overall degree of centralization. Instead, users ultimately vote for centralized representation. Most changes to EOS’s voting system, no matter how radical, will not change that basic fact. The post Pay People Not To Vote: Dan Larimer’s Radical Solution to EOS Vote Buying appeared first on Crypto Briefing.

a year ago

CD 21 Leaders Index Surges 6.5% as Bitcoin (BTC) Spikes to New 2019 High

The CryptoDaily 21 Leaders Cryptocurrency Index rocketed to a new 2019 high and reached 58.74 on Wednesday from 55.13 on Tuesday, a 6.54% ascent. The 21 Leaders Index is up 18.47% over the past 7 days and is up 33.16% over the past 30 days. NEM (XEM) led the gainers with a 12.1% climb to a market capitalisation of US$ 928.37 million. Bitcoin also contributed to gains with a 9.8% climb to a market capitalisation of US$ 230.24 billion. Monero (XMR) led the losers with a 7.4% decline. The CryptoDaily Large-Cap Cryptocurrency Index sharply jumped to 44.08 on Wednesday from 37.72 on Tuesday, an 8.38% improvement. The Large-Cap Index is up +21.70% over the past 7 days and is up +37.92% over the past 30 days. In addition to NEM’s (XEM) and Bitcoin’s (BTC) rallies, Decred (DCR) gained 8.5% and Zcash (ZEC) grew 6.6% as traders reacted to news that it is undergoing a rebuild including a new protocol with sharding. VeChain (VET) led the decliners with a 12.1% pullback. The CryptoDaily Mid-Cap Cryptocurrency Index continued to move higher and reached 53.08 on Wednesday from 52.95 on Tuesday, 0.24% improvement. The Mid-Cap Index is up 4.98% over the past 7 days and is up 12.05% over the past 30 days. ICON (ICX) gained 4.4% to a market capitalisation of US$ 165.82 million as traders reacted to news that South Korea’s Financial Services Commission approved ICONLOOP’s blockchain-based digital identity authentication service into its fintech sandbox. Status (SNT) also contributed to gains with a 2.7% gain while Crypto.com (MCO) led losers with a 15.6% plunge. The CryptoDaily Small-Cap Cryptocurrency Index remained steady at 2.99 on Wednesday from 2.99 on Tuesday. The Small-Cap Index is off 5.97% over the past 7 days and is off 2.29% over the past 30 days. iExec RLC (RLC) rallied 33.4% to a market capitalisation of US$ 33.77 million as its co-founder attended Cyber Week in Tel Aviv. Ren (REN) also added to gains with an 11.5% improvement and Bread (BRD) led losers with a 14.4% pullback.

a year ago


News courtesy of berminal.com
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