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The Current State of Cryptocurrencies

CoinSpeaker The Current State of Cryptocurrencies We are now a decade on from the publishing of Satoshi Nakamoto’s Bitcoin White Paper, where they/ he/ she envisioned a revolutionary mass uptake of cryptocurrencies, representing a paradigm shift for the entire financial sector. The global crypto market is now worth £166 billion in total, a figure which could be seen as indicative of its present strength. This, along with increased mainstream interest from media, institutions and individuals alike, has led many to reclassify cryptos from a niche pastime, to an increasingly integral part of the global financial system. However, this has not been enough to silence some crypto critics, with the likes of Warren Buffet and Bill Gates expressing doubts over the technology. Further, market crashes, along with continued media reports of theft and fraud have only served to inflame the derisive attitudes of critics. The current state of cryptocurrencies is, understandably, difficult to define and there are a range of issues the sector is still facing. The ultimate question is what will we see in the future? Regulation With the cryptocurrency sphere continuing to develop at a frenetic pace, regulatory bodies are now increasing their involvement. Over the last year we have seen the British Treasury Select Committee, European Securities and Markets Authority and American Securities and Exchange Commission (SEC) release statements related to crypto regulation. The UK has adopted a ‘wait and see’ approach, with the Government having so far resisted calls to extend the Financial Conduct Authority’s (FCA’s) remit to cryptocurrency regulation. However, this is unlikely to remain the case, with the Bank of England Governor Mark Carney indicating that crypto specific legislation is forthcoming. By comparison, the US’s regulatory environment is incredibly fragmented. Laws regarding cryptos not only vary greatly by jurisdiction, but also on the federal level - with the Financial Crimes Enforcement Network (FinCEN), Inland Revenue Service (IRS), SEC and Commodities Future Trading Commission (CFTC) all adopting separate approaches. Future regulation is likely to be streamlined, as the Justice Department announced that it is collaborating with the SEC and CFTC to ensure effectual consumer protection and increased simplification from future regulatory efforts. The topic of regulation still brings fear among many in the crypto space. Many are worried that constrictive legislation may prohibit the innovation which has powered Bitcoin’s growth thus far. Despite these somewhat rational fears, it is important for the crypto community to maintain a positive attitude towards comprehensive regulation as it will encourage investment from larger financial institutions, vastly expanding the global user base. Security & Crime An estimated $1.2 billion in cryptocurrency was stolen from exchanges between January 2017 and May 2018. Of this number, only twenty per cent has ever been recovered. More recently, crypto exchanges Coinrail and Zaif were successfully attacked, losing tokens amounting to $40 million and $60 million respectively. While the difficulties experienced by law enforcement with recovery might be telling of the newness of the crime, the consistency with which exchanges are successfully attacked on a large scale highlights a systemic issue; a lackadaisical attitude towards security. The recent Zaif hack was attributed to using a hot wallet (a cryptocurrency wallet which is connected to the internet) which leaves a user greatly exposed to an attack when compared to a cold wallet (where the wallet is stored in a platform not connected to the internet). This is as the funds stored in a hot wallet are commonly secured with a single private key, which if stolen will allow for a user’s account to be drained completely. Shockingly, this same vulnerability was also exploited in both the Bithumb and Coincheck hacks - indicating that the sector is in dire need of bringing in greater security. A lax attitude comprises a major threat to the future of cryptocurrencies, as regular hacks will continue to weaken trust in the sector overall. If providers want to establish trust within their user base, they need to ensure they are investing significant capital into protecting against these hacks. It is also essential that proper security standards and processes are established, as this will reduce the likelihood of future hacks. Uptake The global cryptocurrency user base has enjoyed steady growth in recent times. We are even beginning to see increased institutional involvement - with the trading volume from institutional clients exceeding that of retail traders for the first time on Coinbase earlier this year. However, the process of acquiring crypto remains difficult and as such uptake has been limited to a very tech savvy subset of the population; a statement reflected by statistics showing that around a thousand users own approximately 40 per cent

a day ago

Circuit Capital: Mainstream Bitcoin and Blockchain Adoption Is Growing

San Francisco and Singapore-based hedge fund Circuit Capital is claiming that bitcoin and cryptocurrency adoption is growing, and that the institutional presence in the digital asset arena is stronger than ever. The Price Isn’t So Hot At the time of writing, the cryptocurrency space is undergoing a massive price slump. Bitcoin, for example, is at its lowest point in over a year, and is trading for about $5,500. Some analysts are blaming the losses on the bitcoin cash fork scheduled to take place today November 15, 2018. Marcus Swanepoel - co-founder and CEO of cryptocurrency trading wallet Luno - recently stated: This drop in the price is more than likely due to the hard fork scheduled by bitcoin cash. The bitcoin cash blockchain has been undergoing scheduled hard forks every six months to upgrade and improve the protocol. In most cases, these hard forks are uncontested with the whole community supporting them. In this case, however, consensus couldn’t be reached with two factions emerging, and proposing different solutions for the upgrade. Don’t Let Numbers Fool You Circuit Capital isn’t letting this news get the best of its research team. Partner Eugene Ng claims that people are concentrating too much on the prices of bitcoin and its crypto-cousins, but that behind closed doors, several institutional traders have become involved, and mainstream adoption is growing like nobody’s business. Set to go live in the first quarter of 2019, Circuit has built a Bitcoin and cryptocurrency index that measures the adoption rates of blockchain technology amongst major corporations and businesses, and according to ten specific data points - i.e. the number of active crypto wallets, transaction volumes and web searchers for Bitcoin and related terms - the index is suggesting that crypto and blockchain adoption is spiking fast. Good Things in the Coming Months In a recent blog post, Ng mentioned that some of the other driving forces behind Bitcoin adoption are fund redemptions, a lagging retail presence, funds buying not by initial coin offerings (ICOs) but by equity, smart money shorting and positive news trends. He further explains: The most compelling market narrative for the next bullish cycle is that institutions will be the main catalyst driving the market. For these traditional entities to gain direct exposure to crypto, they must be able to trade, settle and store assets in an institutional-grade environment. I am excited for 2019 because the foundations for a marketplace will be laid. The buildout of this infrastructure will grow alongside clarity in regulations and regulated investment product offerings that will bring massive inflows of capital. Will Bitcoin adoption continue to grow, or can we kiss goodbye to everyone’s favorite cryptocurrency? Post your comments below. Images courtesy of ShutterStock The post Circuit Capital: Mainstream Bitcoin and Blockchain Adoption Is Growing appeared first on Live Bitcoin News.

2 days ago

Rivetz to deliver military-grade blockchain asset protection for Ferrum Network

CryptoNinjas Rivetz, the provider of embedded, blockchain-based mobile security solutions, and Ferrum Network, a fast interconnectivity network designed for decentralized financial applications, today announced a partnership to incorporate Rivetz’s hardware-level security into Ferrum’s hot and cold... Rivetz to deliver military-grade blockchain asset protection for Ferrum...

2 days ago

Daily Crypto Roundup 11/15/2018

Today was an eventful day in crypto. Bitcoin Cash hard forked, Dogecoin sees more transactions than BCH, Iranian crypto interest, and further scam reports. All while Bitcoin seems to have found a bit of price support. Catch up on today’s action. After The Fork: How Competing Bitcoin Cash Blockchains Might Wage War The much anticipated Bitcoin Cash hard fork took place today. The already controversial BCH has turned even more controversial as the team has split in two directions. Roger Ver Versus Craig Wright - Bitcoin ABC versus Bitcoin SV. CoinDesk reports on the current battle for hash power, explaining - “[b]ecause of bitcoin cash’s underlying architecture, a 51 percent dominance in hash power will allow Bitcoin SV to launch attacks against the minority chain - and Wright has suggested that such action isn’t off the table”. Other measures have also been taken to ensure only one chain’s survival. Technically speaking, there is statedly no transaction replay protection, leading to possible loss of assets as well as hacking risks. Read on CoinDesk Such Hard Fork, Much Hot Air? Dogecoin Still Used 4x More Than Bitcoin Cash Roger Ver is famous for promoting Bitcoin Cash as a method of payment. However, despite such efforts, Bitcoin Cash reportedly still lacks usage. According to Bitcoinist’s reference to Coinmetrics data, “Bitcoin Cash still processes less than half as many payment transactions as meme-themed DOGE”. Read on Bitcoinist Without SWIFT, Iran Turns To Crypto Due to recent limitations the U.S. has put on Iran, the country now sees more difficulty with international trade. This has led popular international payments operator SWIFT to halt its services for the Iranian Central Bank. SWIFT is often relied on for international payments. Iran looks toward crypto as a solution. “Despite its harsh stance against bitcoin and other cryptocurrencies in the past, Tehran has announced that it will be moving forward with plans to create its own state-sponsored cryptocurrency, much like Venezuela’s el petro”, reported Crypto Insider. Read on Crypto Insider US: Acting AG Backed Alleged ‘Invention-Promotion Scam’ Touting ‘Time Travel’ Crypto The scam news continues to roll in as Matthew G. Whitaker, Acting U.S. attorney general, finds himself in the midst of scam involvement accusations, according to a CoinDesk report. The scam involves “World Patent Marketing”, a supposedly crooked operation. The operation included advertising eccentric inventions made by ambitious inventors. One such product even included a “theoretical time travel commodity tied directly to price of Bitcoin”, as reported by motherjones.com Read on CoinDesk Police Arrest 8 Over Alleged $68 Million Crypto Pyramid Scheme In Japan The scams just keep rolling in as today brings news of a foiled crypto pyramid scheme. Japanese police took eight men into custody for running a supposed crypto pyramid operation leading to almost $69 million in swindled funds. Said business was not filed with proper authorities. CoinDesk reports - “The men had reportedly touted a bogus investment firm called ‘Sener’ they claimed was be based in the U.S., and collected 29 million yen (about $2,55,403) in cash from nine people, between February and May 2017, in order to purchase bitcoins on their behalf, police reportedly said”. Read on CoinDesk The post Daily Crypto Roundup 11/15/2018 appeared first on Crypto Insider.

2 days ago

Bitcoin Cash War Begins: Hash Power of BCH Increasing Rapidly

Bitcoin Cash’s controversial chain split scheduled for today has been activated at block number 556,766. Around three hours after the split, it appears that one of the main instigators of the fork is struggling to keep pace with the mighty combined hash rate of Bitcoin.com and Bitmain. Where’s All That Hash Power Then Craig? According to data provided by cryptocurrency statistics website Coin.Dance, at the time of writing, Bitcoin.com, supporting the Bitcoin ABC side of the hard fork, had mined seven of the eight Bitcoin ABC blocks produced so far with BTC.com adding the last. Meanwhile, SV Pool, has only mined four of the five Bitcoin SV blocks created so far. Mempool picked up the remaining block reward. Despite big boasts of their ability to 51% attack Bitcoin ABC from the SV camp, notably originating from the lips of their head honcho, Dr Craig Wright, the Bitcoin SV chain has thus far failed to establish itself as the longest chain. Not only that, but just two hours after the split, Bitcoin SV looks redundant to deliver on the kind of threats Wright and company have been making recently. Wright had gone so far as to state that he would command around 70% of the total Bitcoin Cash rate thanks to his connections to CoinGeek mining firm founder Calvin Ayre. However, judging by the current statistics, pools supportive of Wright’s ambitions would struggle to get anywhere near the necessary hash rate to compromise the security or operation of the Bitcoin ABC chain. Wright has spent much of the run up to today’s hard fork posturing on Twitter about the terrible vengeance he will wreak on first the Bitcoin ABC side of the Bitcoin Cash fork and following this, to Bitcoin (BTC) itself. The man whose claims to be Bitcoin’s creator have been largely debunked also appeared on technical analysis specialist Tone Vays’s YouTube channel to boast about the seemingly endless hash power he commands. Additionally, he sent a rather abusive email to Roger Ver demanding the early Bitcoin proponent support Wright or face some largely implied consequences. However, earlier today, Roger Ver, one of Bitcoin Cash’s biggest proponents and recent victim of Wright’s efforts to assert his control over BCH, tweeted that the Bitcoin.com pool now boasted more hash rate than that of the entire Bitcoin Cash network just hours previously: The https://t.co/6EeRmpfaH7 pool now has more hash rate on it than the entire BCH network had earlier today. Bitcoin is cash for the world! #BitcoinCash #bitcoincashfork pic.twitter.com/n2MqQ5mlfK — Roger Ver (@rogerkver) November 15, 2018 Others also provided their take on the situation and how the posturing of Craig Wright now seemed more likely to be hot air than anything else... Possible Bitcoin Cash hash war scenario Bitcoin dot com added 4 exahash. If Bitmain and Jihan's camp redirects more hash power to BCH (estimated to be 20 EH), it's game over for faketoshi. All depends on Calvin Ayre, but it's becoming more likely that faketoshi will lose out. — Joseph Young (@iamjosephyoung) November 15, 2018 ... before summarising the current hard fork situation and its likely winners and losers: Bitcoin Cash (ABC) ahead, more hash power, more activity, higher price. 4x higher price (margin). Seems like a win for BCH. Jihan Wu and Chinese miners not even needed. Certainly not enough for a 51% attack on BCH. BSV nodes reportedly crashing. Faketoshi lost, community won pic.twitter.com/5LzuKMX3lf — Joseph Young (@iamjosephyoung) November 15, 2018 For further explanation, this is more hashpower than $BCH had in the last 24hrs. I.e. if Coingeek / nChain / SV Pool / etc. don't have a lot more miners, then ABC is immune to attack — Alistair Milne (@alistairmilne) November 15, 2018 According to sources close to the founder of Chinese mining hardware manufacturer Bitmain, there are still 90,000 mining units reportedly mining the BTC chain that could also be switched to Bitcoin ABC should a significant threat of 51% attack from Wright arise. Evidently, Wright would need many times as much hash rate than he currently appears to yield. For now, his talk of 51% attacks and “2014 prices” for months seem to be little more than idle threats. It appears that today’s hard fork might blow over as quickly as Roger Ver stated it might. The early investor and advocate of digital currencies had previously compared the situation to that of the Y2K bug thought to destroy computer systems around the world at the turn of the millennium. However, nothing of the sort occurred and the event was quickly forgotten. If the current situation remains, this too could be the fate of today’s split between Bitcoin ABC and Bitcoin SV. Related Reading: BCH Fight: Bitcoin Cash Bashing Heats Up, Rivals Duke It Out Ahead of Hard Fork Featured image from Shutterstock. The post Bitcoin Cash War Begins: Hash Power of BCH Increasing Rapidly appeared first on NewsBTC.

2 days ago

KuCoin raises $20 million from IDG Captial, Matrix Partners, and NEO Global Partner

Image source: https://www.coindigital.com According to the latest announcement, a Singapore based cryptocurrency exchange, KuCoin has has pulled in $20 million. Hot on the heels, the big players contributing to the platforms were, IDG Captial, Matrix Partners, and NEO Global Capital. The key purpose of pulling such a huge fund is to expand the reach of KuCoin and its adoption globally. Nevertheless, crypto funding often comes through the sale of tokens but not in the case of KuCoin. It has confirmed that the new funding comes in equity and not a sale of tokens. Michael Gan, CEO of KuCoin embraces the deal and notes “it will open new doors” for the firm. Key Highlights of KuCoin Funding Process and Purpose Reinvigorate KuCoin’s services The fund will utilize to launch Platform 2.0 (probably in Q1, 2019) It proposes to upgrade its platform by making it more than a single exchange. However, it aims at boosting KuCoin as the “most secure, dynamic and malleable trading”. KuCoin intends to expand to major countries namely, Vietnam, Italy, Turkey, Russia before the end of 2018. Likewise, KuCoin endeavors to drive up to 10 markets within the next six months With the new funding, exchange wants to be a global brand for blockchain technology. To expand its reach, the firm claims to offer its services in multiple languages It’s still uncertain that whether or not the firm will adhere to regulatory measures in NewYork but to expand itsservice in Europe, it is working closely with European regulators. Established in September 2017, KuCoin has first started its exchange raising y raising 5500 Bitcoin through an ICO which was eventually worth around $27.5 million. At present, the exchange is 49th largest exchange with $25 million daily trading volume. To mark its funding from VCs, Michael Gan assure to fulfill their vision, stating that; “I believe one day everything will function with blockchain technology. And with our newly formed partnerships, we will build on today’s momentum and fulfill this vision.” The post KuCoin raises $20 million from IDG Captial, Matrix Partners, and NEO Global Partner appeared first on Coingape.

2 days ago

Bitcoin Cash might be the hot topic of Bitcoin forks right now, but there are plenty more

When Satoshi Nakamoto introduced the world to the first cryptocurrency - he launched Bitcoin as an open-sourced technology. Since then, numerous forks have entered - and left - the cryptocurrency market. There are several reasons why a fork might happen, such as a proposed change to protocol because a pioneer might perceive a flaw in the algorithm or system of a particular blockchain and might think they have a potential solution. A big issue for which Bitcoin has been criticized is the troubles of scalability, particularly pertinent to the number of transactions that can be processed at any given time. The crypto-cupboard of forks is not lacking, with some more respectable than others. Three of the most prominent Bitcoin forks are Litecoin, Bitcoin Cash, and Bitcoin Gold but there are countless (okay, counted - but many) other forks to look at. Litecoin Litecoin was launched in order to be the ‘silver’ to Bitcoin’s ‘gold.’ At a quick look, the notable differences between Bitcoin and Litecoin are their coin limit, algorithm, and average block time. On the other hand, Litecoin is similar to Bitcoin as it is generated by mining. However, former Google employee Charlie Lee, the creator of Litecoin made one fundamental change for end-users: it is four times quicker to mine a Litecoin block, taking only two and a half minutes as opposed to Bitcoin’s ten. With a faster transaction speed - or block time - than Bitcoin, it also reduces the risk of double spending attacks, minimizes time for confirmation, and allows higher volumes of transactions. Litecoin comes with its own set of issues, however, and the algorithm creates a proportionally larger blockchain and we don’t know yet how it will be able to handle a massive volume of transactions if the need arises. Bitcoin Cash Like Litecoin, Bitcoin Cash was also born out of the want to sort out some of the pressing issues of Bitcoin’s scalability. While Litecoin looks to speed up transactions, the main goal of Bitcoin Cash goal is to increase the number of transactions that can be processed by the network. It does this by enabling the increase of the block size from one megabyte to eight megabytes in the hopes that the currency will be able to cope with the huge volumes of traffic that massive companies (such as PayPal and Visa) need to handle, making transactions cheaper and more viable for easy payments. A key difference with Bitcoin Cash is that it features an adjustable level of difficulty to ensure that block verifications remain at a constant speed despite increasing or decreasing numbers of miners verifying transactions. While this is also a viable solution, it has raised concerns that Bitcoin Cash may not be as secure as its forebear. Launched in August 2017, Bitcoin Cash has become Bitcoin’s most successful offshoot, but it’s not the only fork that has stemmed from the original cryptocurrency. Bitcoin Gold Just a few months after the implementation of Bitcoin Cash was announced Bitcoin Gold, led by Jack Liao, was launched. The reason for this particular Bitcoin fork in the road was to introduce a strictly decentralized version of the original cryptocurrency in an aim to loosen the grip that mining firms have. Since Bitcoin mining has become a somewhat exclusive endeavor, it has deviated from the original vision where anyone would be able to participate. Bitcoin Gold hopes to restore the balance and ensure that mining isn’t monopolized by leading companies. In order to allow this, Bitcoin’s algorithm was modified to allow the cryptocurrency to be mined using graphics cards. This means that any Bitcoin Gold user can mine from their own personal computer, unlike the application-specific integrated circuits (or ASICs) now required by Bitcoin miners. The move, according to Liao, was taken with the view of lessening the influence of large-scale mining firms. It still remains to be seen whether many users will be in full support of these diverged forks, but if the possibility for a near-flawless digital currency is on the table it can only be good news for the cryptoworld. BONUS - Bitcoin Pizza Bitcoiners might enthusiastically share the tale of the purchase that saw one happy customer part with 10k BTC for two pizzas, and now Bitcoin Pizza has picked up the banner. Read about Bitcoin Pizza. The post Bitcoin Cash might be the hot topic of Bitcoin forks right now, but there are plenty more appeared first on Coin Insider.

2 days ago

Bitcoin Ban is Impossible in India, says Experts

Experts are saying the Indian Government’s perceived plan to ban Bitcoin and all other cryptocurrencies is an impossibility. Analysts are saying that by the very nature of digital currencies, implementing a blanket ban will be difficult. Blanket Bitcoin Ban in India Cannot Happen According to Quartz India, following reports of a possible ban on private use of cryptocurrencies, several market players and experts weigh in on the impossibility of a blanket ban on cryptocurrencies. Whether the government plans to ban digital currency transactions or private ownership or both, analysts believe it will be an uphill endeavor for the government. Speaking on the matter, Nischal Shetty, CEO of WaziX, a cryptocurrency exchange in India had this to say: Even if the government decides to ban possession, it will be just impossible to implement it. Shetty is of the opinion that banning cryptocurrency exchanges will not eliminate private ownership of virtual currencies. Investors can store their digital assets in cloud storage facilities, individual hot wallets or physical storage devices like USB drives. Or, as Tanvi Ratna believes, crypto traders can by-pass a ban on local trade by moving their investments to foreign exchanges which will be difficult for the government to trace. Ratna, who is a Policy Consultant for Incrypt is quoted as saying: Once an Indian (citizen) is invested in a foreign exchange, it might become impossible for the government to trace his or her investments, because most foreign exchanges also allow conversion to private coins which makes transactions untraceable. The government can block access to the websites of overseas exchanges. But according to Raunaq Vaisoha, CEO of a blockchain firm, there is still a window of opportunity for local traders and investors - the use of Virtual Private Networks. Experts Call for Better Regulations Instead of Ban Governments wary of cryptocurrency cite fraud and money laundering as reasons for their unwillingness to allow the use of cryptocurrency. The persistent rise in the occurrence of fraudulent ICOs, and money laundering cases involving the use of virtual currencies all give credence to this stance. But these are also ever-present issues in the traditional financial market. Banning cryptocurrency drives them underground which will only make them more favorable for illegal activities. Rather than a blanket ban, which is impossible, experts say regulation is the way forward. The CEO of a blockchain company in India supports this notion. Ausaf Ahmad, the CEO of Eleven01 is of the opinion that a regulation is the only way to combat illegal cryptocurrency activities. Earlier in the year, exchanges in India expressed their willingness to submit to government regulations. Image courtesy Ethereum World News Archives. The post Bitcoin Ban is Impossible in India, says Experts appeared first on Ethereum World News.

2 days ago

Such Hard Fork, Much Hot Air? Dogecoin Still Used 4X More Than Bitcoin Cash

Bitcoin Cash may be in the spotlight as cryptocurrency markets tumble, but some have already played down the altcoin’s importance - even compared to Dogecoin. Much Ado About Forking Nothing While commentators from social media pundits to mainstream media networks focus on the Bitcoin Cash (BCH) 00 hard fork to explain the sudden return of volatility to cryptoassets, the extent to which markets are overreacting may already be plain to see. As data from Coinmetrics shows, for all the publicity, rumors and speculation generated by its hard fork, scheduled for November 15, Bitcoin Cash still processes less than half as many payment transactions as meme-themed DOGE 00. The underperformance of BCH as a preferred method of payment is nothing new, Bitcoinist previously reporting on DOGE’s perennial popularity earlier this year. Note, the big spike in BCH transactions in September was due to a network stress test. BCH Bidding War Turns To Miners In the hours leading up to the hard fork meanwhile, rhetoric from both within BCH’s two competing camps and outside the community continues to gather momentum. While much is yet to be decided about how BCH will look after the fork, multiple rumors focus on how proponents of Bitcoin Cash ABC and Bitcoin Cash SV plan to gain enough mining power to stay afloat. ABC’s Roger Ver plans to force his mining pool members to mine the ABC chain, a move which fellow supporter Jihan Wu could repeat for pools controlled by his Bitmain mining giant. At the same time, confusion reigns over whether Wu will deploy thousands of extra mining rigs in order to boost ABC’s clout. For Ver, Wu and SV’s Craig Wright, however, it appears to be business as usual. “Just a reminder,” Wright wrote in one of many tweets over the past 24 hours about his rivals’ mining plans. “If Jihan and Roger break their contracts and direct BTC miners of users to BCH for a day... We will help you start a long messy class action. “No (socialists) telling you what your systems do[.]” Wright further called John McAfee, who has weighed in on the situation himself, a “conman and a scammer.” In a separate development, Bitmain has allegedly denied that Wu is unable to make executive decisions since a board reshuffle local media reported took place last week. What do you think about the significance of Bitcoin Cash’s hard fork? Let us know in the comments below! Images courtesy of Shutterstock The post Such Hard Fork, Much Hot Air? Dogecoin Still Used 4X More Than Bitcoin Cash appeared first on Bitcoinist.com.

2 days ago

#PCTA AMA is in hot discussion now! Currently the concept of...

#PCTA AMA is in hot discussion now! Currently the concept of STO is very popular and many wander whether it will be… https://t.co/dl2wSkh783

2 days ago

Crypto Firm Ambidant Marketing Faked Halal Investment Opportunities

Indian government officials are cracking down on cryptocurrency companies. Especially service providers which are deemed potentially fraudulent are of great interest. Ambidant Marketing and Investment is one of those companies under a lot of scrutiny. The father-and-son team offered “faked” halal investment opportunities to attract wealthy Muslims. The Ambidant Marketing Ploy Operated by Syed Fareed and Syed Afaq Ahmed, Ambidant Marketing has attracted a lot of attention. Father and son offered fake halal investment opportunities to other Muslims. Investing under Islamic Law is a touchy subject. By definition, it is not allowed to invest in something to obtain profits. If the opportunity is deemed halal, however, that outlook may change. Ambidant Marketing claimed to offer such investment opportunities. The company is responsible for allegedly buying cryptocurrencies. Bitcoin is halal in some parts of the world, albeit its situation in India remains unclear. In the eyes of the government, it is not a tool consumers should get involved with. That puts any venture pertaining to cryptocurrencies on India’s radar first and foremost. Other aspects of Ambidant Marketing confirmed the company was not legitimate. The firm paid out high returns every single month. Such a payment schedule is not sustainable, especially not with volatile cryptocurrencies. The monthly payouts diminished quickly until no further payments were made to investors. That status quo is still in place today. Investment Opportunities Need to be Scrutinized In the cryptocurrency world, there is no such thing as easy money. Any company claiming otherwise is usually a fraudulent project. For Ambidant Marketing, keeping its crypto investments hidden from investors is not a smart idea. Especially since the Indian government has always looked down upon this form of money. Local sources claim the company received a notice about its crypto investments earlier this year. This is what caused the payouts to investors to dry up eventually. Whether that is indeed the case, remains unclear at this point. Given the high returns promised by the company, a so-called “exit scam” was all but inevitable. They seemingly paid attention to cryptocurrency because it was such a hot trend in late 2017 and early 2018. For affected investors, getting their money back may prove complicated. Since most of them never received any payments, it is safe to say the money is gone. An official investigation is still underway, by the look of things. Putting an end to scams like these is of the utmost importance. Especially in India, fraudulent crypto-related offerings are all too common these days. What can be done to stem the tide of crypto investing scams? Will it get worse before it gets better? Let us know in the comments below. Images courtesy of ShutterStock The post Crypto Firm Ambidant Marketing Faked Halal Investment Opportunities appeared first on Live Bitcoin News.

3 days ago

MJAC announces added speakers, ICOs and Power Snooker Exhibition Games at blockchain conference

- Showcasing innovators and thought leaders of the blockchain industry alongside sporting personalities - Obi Nwosu, CEO of Coinfloor, and Nick Chong of Liquid by Quoine will be delivering the two keynote speeches at the MJAC & CryptoCompare London Blockchain Summit. The event, which is taking place on November 30th, will see a host of key industry players discussing and debating the hot topics from within the blockchain and cryptocurrency spheres. Claire Wells and Marieke Flament from global crypto finance company Circle will be having a Fireside Chat where they will discuss Opportunities and Threats for the Tokenisation of Everything. Iqbal V. Gandham of eToro will be asking: Will STOs replace IPOs? during his address and Steve Swain, CEO of Lendingblock, will be on stage discussing how securities lending will lead to the institutional adoption of cryptocurrencies. David Fauchier, CEO/CIO at Cambrial, will be discussing: The state of crypto funds: challenges, opportunities, what next? and Saar Levi, CEDEX CEO will be looking at the tokenization of new assets classes and what this means for the financial markets. The schedule includes a number of panel discussions. Edd Carlton of BlockEx will be joined by Marina Titova from NKB Group, Amir Ness of Elevate Group and Joseph-Daniel Millwood of Coinbase to discuss: Crypto and how it has evolved as an asset class over 2018. The Regulatory Panel Discussion, moderated by Teana Baker-Taylor, Advisory Council at Global Digital Finance, comprises of Dan Morgan from Ripple, Bryony Widdup of DLA Piper and Ruth Wandhöfer of Coinfirm. The Institutional Trading in the Crypto Market panel includes moderator Simon Taylor of 11:FS who is joined by Ryan Radloff, CEO of CoinShares; Hansen Wang of Melonport, Lucas Friss from Cumberland and Martin Hoffgen of Elation Capital. The ICO section of the agenda will see presentations from names including: Gigzi, Creative 3D Web and PowerSnooker; the latter being presented by Dean Christy, PowerSnooker Ambassador and Former Head of Corporate Governance at Prudential. Additionally, MJAC will host a global selection of eminent and emerging companies as exhibitors. Delegates will have an opportunity to enter a PowerSnooker prize draw with six lucky winners getting to play against snooker legend Tony Knowles and boxing superstar Johnny Nelson on a full-sized professional snooker table at the event. This exhibition game will be played during the drinks reception, which will start at 18.00. Confirmed speakers: Claire Wells - Legal & Business Affairs Director for Europe at Circle Marieke Flament - Global CMO and EMEA Managing Director at Circle Saar Levi - CEDEX CEO and co-founder Amir Ness - Founder of Elevate Group Teana Baker-Taylor - Advisory Council at Global Digital Finance Obi Nwosu, CEO and co-founder Coinfloor Ltd Lucas Friss - Head of Business Development, Europe Cumberland Marina Titova - Head of ICO Advisory at NKB Group Edd Carlton - Head of OTC Trading at BlockEx Simon Taylor - Co-founder and Blockchain Practice Lead at 11: FS Joseph-Daniel Millwood - EU Marketing Lead at Coinbase Cassius Kiani - Founder of Atlas Neue Dan Morgan - Head of Regulatory Relations, Europe at Ripple Steve Swain - Co-founder & CEO of Lendingblock Iqbal V. Gandham - Managing Director at eToro (UK Region) Hansen Wang - Head of External Relations at Melonport Martin Hoffgen - Director at Elation Capital Ryan Radloff - CEO at CoinShares Ruth Wandhöfer - Head of Industry and Regulatory Affairs at Coinfirm Dean Christy - PowerSnooker Ambassador David Fauchier - CEO/CIO Cambrial Bryony Widdup, Partner at DLA Piper Nick Chong - Head of North America for Liquid by Quoine “This summit, with its abundance of high caliber participants, will help people keep abreast of what is happening in the rapidly evolving crypto and blockchain space,” said Matthew Collom of MJAC. “Delegates can expect to see both a retail and institutional focus and witness the crucial issues being hotly debated.” The MJAC & CryptoCompare London Blockchain Summit is taking place at Old Billingsgate, 1 Old Billingsgate Walk, London, EC3R 6DX on Friday, November 30th, 2018. For the latest details and to book tickets go to http://www.mjac.io. Use code: MJAC30 for a 30% discount. To find out about exhibitor, ICO packages and sponsorship opportunities call: 07980 868 676 or email: blockchain@advfn.com. To enquire about press passes email: francescad@advfnplc.com - ends - About MJAC Disruptive Investment Conferences MJAC InvestorsHub Disruptive Investment Conferences are conferences and expos focusing on disruptive technologies including blockchain, lithium, and medical marijuana. Next event: MJAC & CryptoCompare London Blockchain Summit, London, November 30th, 2018. About CryptoCompare At CryptoCompare we pride ourselves in showing the most accurate live prices, charting and market analysis from 65 of the top crypto exchanges globally. Our content editors keep the mining data, be it

3 days ago

BitMax.io (BTMX.io) Partners with BitCloud & BeShare to Deliver Enhanced Trading Tools and Services

BitMax.io (BTMX.io), the pioneering innovative digital asset exchange, has established strategic partnerships with BitCloud and BeShare. With these new alliances, users who have already signed up for BitCloud or BeShare can have access to BitMax.io’s platform directly using their existing accounts. In addition, with real-time synchronization of BitMax.io’s exchange information with BitCloud and BeShare, users will be able to trade or place orders directly on BitMax.io’s exchange platform through Beshare or BitCloud’s APIs. BitMax.io is a global operator of an innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients. With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space as the next third-generation digital asset trading platform. BitCloud is the world’s first combined trading platform. It is an ambitious project that aims to create a user-friendly and user-focused one-stop platform crypto trading service. It enables blockchain project investors to schedule and monitor their digital asset investments in an efficient and hassle-free way, and analyzes every aspect of the user experience to solve major pain points, reduce costs, increase profits, and educate investors. This service comes with a number of innovative and useful features. Using a powerful trading API, BitCloud provides users with rich trading functions and aggregates dozens of well-known and large-scale trading platforms. Doing this enables users to connect multiple exchange APIs and trade through them directly on BitCloud. Furthermore, an ingenious Strategy trading function has been developed to complement limit and market orders of each exchange. Using BitCloud’s Iceberg trading algorithm, users can execute buy and sell orders without significantly affecting market prices, even with large orders. The Strategy trading AI approach is unique because it allows users to get the best possible price across the entire market by combining order books and market depth across all participating exchanges. This approach also allows BitCloud users to trade in the majority of altcoins on the market. BeShare is a special crypto trading app that has been developed to manage assets across different exchanges. It allows users to easily view market information that interests them and to execute spot and futures trades with just a few clicks. The project’s future roadmap includes plans to open accounts on the app and to charge and withdraw cryptocurrency using simple, easy-to-use tools and services. The BeShare service comes with a unique set of services and advantages as well. The first is aggregation trading. In this trading mode, users are guided through a simple set of trading steps in which they choose the exchanges they want to trade on, the pairs they are interested in, and specific orders or positions that are visible in the order books. Once these three choices have been set, the user can then execute aggregated trades across all the exchanges for the selected orders and pairs, from one integrated portal. This process also works for customized selections, meaning users can set up and edit their own choices and execute aggregated trades for those specifications as well. The asset portfolio feature is similar to aggregation trading, but instead of combining prices and orders across multiple exchanges to execute a combined trade, it allows users to thoroughly manage their assets. They can first choose the assets and exchanges that they want to analyze, and then view the individual gains, losses, and order histories of the selected cryptocurrency, token, or asset. This feature is useful because it provides traders with a bird’s-eye view of how their overall portfolios are performing, regardless of which exchange or wallet may hold their assets. It is obvious that in order to make these features work, BeShare needs access to a wide range of crypto market data. They achieve this by compiling comprehensive cryptocurrency information, setting price warnings providing round-the-clock market news, and aggregating market statistics on hot trades, trading shelves, premium rates, and more, all of which is then provided to users to facilitate well-informed and accurate trades. By establishing technical partnerships with other leading players in the crypto market, BitMax.io continues to enhance its competitive and client-centric service offerings, growing the global user base, provide an institutional-level trading platform with lower trading costs while improving liquidity and enhancing trading efficiency. Led by a seasoned team of Wall Street quant trading executives and technical experts from globally renowned universities, BitMax.io currently has over 50,000 global users and 30 active crypto trading pairs with additional listings under review. Supported by

3 days ago

Keep an eye on ZCash - it “has quietly been making progress”

In his latest video, CNBC’s Cryptotrader Ran Neuner explores the current state of several hot topics in the world of cryptocurrency. ZCash has been quietly making progress . They have reduced transaction times from 45 seconds to 2,5 seconds and they have got approval from top regulators, including NYC. I caught up with @zooko at @ethereum Devcon.https://t.co/ByBmOlWVJ1 — Ran NeuNer (@cryptomanran) November 13, 2018 In this installment, Neuner explores: -Vitalik Unveils -Ethereum 2.0 -The new version of ETH thats fast and uses POS. Zooko talks Zcash Erik Voorhees comments on Ethereum 2.0 Watch the full video below: The post Keep an eye on ZCash - it “has quietly been making progress” appeared first on Coin Insider.

3 days ago

BitMax.io Partners with BitCloud & BeShare to Improve Cryptocurrency Trading Services for Users

CoinSpeaker BitMax.io Partners with BitCloud & BeShare to Improve Cryptocurrency Trading Services for Users With these new alliances, users who have already signed up for BitCloud or BeShare can have access to BitMax.io’s platform directly using their existing accounts. In addition, with real-time synchronization of BitMax.io’s exchange information with BitCloud and BeShare, users will be able to trade or place orders directly on BitMax.io’s exchange platform through Beshare or BitCloud’s APIs. BitMax.io is a global operator of an innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients. With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space as the next third-generation digital asset trading platform. BitCloud is the world’s first combined trading platform. It is an ambitious project that aims to create a user-friendly and user-focused one-stop platform crypto trading service. It enables blockchain project investors to schedule and monitor their digital asset investments in an efficient and hassle-free way, and analyzes every aspect of the user experience to solve major pain points, reduce costs, increase profits, and educate investors. This service comes with a number of innovative and useful features. Using a powerful trading API, BitCloud provides users with rich trading functions and aggregates dozens of well-known and large-scale trading platforms. Doing this enables users to connect multiple exchange APIs and trade through them directly on BitCloud. Furthermore, an ingenious Strategy trading function has been developed to complement limit and market orders of each exchange. Using BitCloud’s Iceberg trading algorithm, users can execute buy and sell orders without significantly affecting market prices, even with large orders. The Strategy trading AI approach is unique because it allows users to get the best possible price across the entire market by combining order books and market depth across all participating exchanges. This approach also allows BitCloud users to trade in the majority of altcoins on the market. BeShare is a special crypto trading app that has been developed to manage assets across different exchanges. It allows users to easily view market information that interests them and to execute spot and futures trades with just a few clicks. The project’s future roadmap includes plans to open accounts on the app and to charge and withdraw cryptocurrency using simple, easy-to-use tools and services. The BeShare service comes with a unique set of services and advantages as well. The first is aggregation trading. In this trading mode, users are guided through a simple set of trading steps in which they choose the exchanges they want to trade on, the pairs they are interested in, and specific orders or positions that are visible in the order books. Once these three choices have been set, the user can then execute aggregated trades across all the exchanges for the selected orders and pairs, from one integrated portal. This process also works for customized selections, meaning users can set up and edit their own choices and execute aggregated trades for those specifications as well. The asset portfolio feature is similar to aggregation trading, but instead of combining prices and orders across multiple exchanges to execute a combined trade, it allows users to thoroughly manage their assets. They can first choose the assets and exchanges that they want to analyze, and then view the individual gains, losses, and order histories of the selected cryptocurrency, token, or asset. This feature is useful because it provides traders with a bird’s-eye view of how their overall portfolios are performing, regardless of which exchange or wallet may hold their assets. It is obvious that in order to make these features work, BeShare needs access to a wide range of crypto market data. They achieve this by compiling comprehensive cryptocurrency information, setting price warnings providing round-the-clock market news, and aggregating market statistics on hot trades, trading shelves, premium rates, and more, all of which is then provided to users to facilitate well-informed and accurate trades. By establishing technical partnerships with other leading players in the crypto market, BitMax.io continues to enhance its competitive and client-centric service offerings, grow global user base, provide institutional-level trading platform with lower trading costs while improving liquidity and enhancing trading efficiency. Led by a seasoned team of Wall Street quant trading executives and technical experts from globally renowned universities, BitMax.io currently has over 50,000 global users and 30 active crypto trading pairs with additional listings under review. Supported by its 24 by 7 global operation, the p

3 days ago

From Homo Sapiens to Holo Sapiens: Post Monetary Technologie...

From Homo Sapiens to Holo Sapiens: Post Monetary Technologies to Enable Collective Intelligence Talk by Mr. Jean-F… https://t.co/MWjrZwmnZC

4 days ago

A Litecoin Transaction Worth $62 Million, Reported to Cost Just 50 Cents

A transaction of over 1 million LTC was recently completed incurring just 50 cents in cost according to ‘Litecoin.com’. In a medium post ‘Litecoin.com’ they note that it is one of the most valuable and largest Litecoin transactions ever. It must be noted that the official website for the Litecoin project is ‘Litecoin.org.’ On the ‘Litecoin.com’ website there is very little information about its backing and motives. The Largest Transaction on Litecoin According to the ‘Litcoin.com’ article, the potentially record-setting transaction on the Litecoin network involved 1,159,005.90779568 LTC coins valued at $62 million. The cost of the transaction was only 0.00922 that equals about $0.5. The large transaction appears to be geared towards the consolidation of funds into a newly created Multi-Signature / Segwit ‘M’ address. Transactions from a few Legacy addresses are now flowing into the new address. The huge inflow of funds has made the new Segwit M address the richest on the Litecoin network. The transaction in question was made by the former richest address on the network. The sender address is now empty. However, the process also destroyed a staggering 71,618,997 coin days. Who Could Own the Address? The identity of the owner of this address is still a mystery which means that somebody will have to come forward to reveal themselves. Until then, the real-world identity of the address owner will remain hidden. What we know is that the exchange could have taken place from a cold wallet. The owner, who has held their coins for a long time likely moved them to a more secure Segwit address. The new multi-signature wallet has multiple private keys and needs to be signed off by multiple parties, unlike Legacy addresses. The transaction in question was made up with multiple inputs of 20,000 LTC, each of which was made up of four batches of 5,000 LTC transactions. The coins originated from an address that still holds 150,000 LTC. The address has many transactions, and it is likely that the address belongs to a hot wallet on an exchange where users were consistently depositing and withdrawing funds. A Litecoin Transaction Worth $62 Million, Reported to Cost Just 50 Cents was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

5 days ago

IBM Blockchain Pursues Open Research, Security

Hot on the blockchain patenting trail, IBM’s latest patent, this time coming out of its Watson Research Center in Yorktown Heights, New York, appears to signal a new pursuit of “open scientific research”. First filed in December 2017, the patent for “Blockchain for Open Scientific Research” claims that blockchain can aid the process of scientific research by tracking research and development projects across institutional borders while offering “a tamper-resistant log of scientific research”. The patent filing outlined the work of IBM inventors Jae-wook Ahn, Maria Chang, Patrick Watson, and Ravindranath Kokku: “The blockchain system can form a blockchain representing a research project, wherein the blockchain comprises a first block of research data and a second block of analysis data representing a log of an analysis performed on the research data. Summary blocks and correction blocks can also be added to the blockchain representing the post analysis of the research results.” The patent clarifies the fact that “currently, there are limited platforms that allow for sharing information about scientific research and showing transparent data collection and analysis steps”, although IBM is clearly not alone in applying DLT in the general science sector. However, as has been demonstrated by heightened levels of research in IBMs labs over the course of the past 12 months, the company has become one of the major drivers of blockchain patents in the field. Another example of its impact on blockchain development and its practical applications, which again focuses on security, is its recent collaboration with data storage solutions company Seagate. The IBM/Seagate project is aimed at enabling manufacturers and users of hard drives to ensure their authentication via a multi-layered security protection to data storage provenance. An immutable record of a product’s life from manufacturing to decommissioning is guaranteed by utilizing both blockchain and advanced cryptographic product identification technology, according to Seagate. Mark Re, senior vice president and chief technology officer at Seagate, explained: “By combining Seagate’s innovations in product security with IBM’s blockchain expertise, we want to prove that we can help reduce the incidence of product counterfeiting in the future.” Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post IBM Blockchain Pursues Open Research, Security appeared first on BitcoinNews.com.

5 days ago

New article in @Forbes with quotes from @paulsnx2! Thanks to...

New article in @Forbes with quotes from @paulsnx2! Thanks to contributor @ultra_Lauren for "Inside The Hot Discussi… https://t.co/ANAAQEbgFm

5 days ago

Maduro Further Takes All the Imaginable Steps to Push the Adoption of His Petro Token

CoinSpeaker Maduro Further Takes All the Imaginable Steps to Push the Adoption of His Petro Token It looks like Venezuela will never leave its hope to make the world’s oil markets start using its controversial national cryptocurrency known as Petro that is puzzling the entire crypto community. Digital Currency for Oil The Venezuelan government seems to stay firm in their decision to position Petro as an internationally recognized cryptocurrency. The country’s minister of petroleum, Manuel Quevedo, who is also the president of state-owned oil company PDVSA posted a tweet telling that Venezuela is going to take Petro to the Organization of the Petroleum Exporting Countries (OPEC) in 2019, as the “main digital currency backed by oil.” Quevedo stated: “Petro will become the digital currency of oil transactions worldwide; we will present it to OPEC, it is one of the internationalization measures of the currency.” This initiative is supported by the hope that it will make possible for Venezuela to start using the token to market its oil from the first quarter of next year. Moreover, the government strongly believes that such a step will enable them to strengthen the country’s economy and ensure growth and prosperity. Businesses that are interested in oil products of Venezuela have already been invited to register on the country’s national cryptocurrency platform. What is more, as it has become known, airlines and shipping companies have also received an invitation to create a digital wallet to carry out transactions using petro. Other Initiatives to Boost Petro Adoption Though there is a widespread opinion that something is wrong about Venezuela’s Petro cryptocurrency and that it is nothing more than just hot air, Nicolas Maduro, the country’s president, is not going to stop realization of his initiatives aimed at boosting Petro adoption. According to a recent government release, users who will buy Petro certificates during the exchange period from November 6 till December 31, will have an opportunity to exchange the cryptocurrency for any other crypto or “convertible currency in the world.” This step represents itself a part of a new government’s savings plan. It is reported that 4 million Petro will be available for purchase and it will be possible to buy certificates using the Bolivar, Venezuela’s fiat currency. Previous Steps Nevertheless, the above mentioned initiatives are not the first ones on this way. For example, in August, the Banco Central de Venezuela, Venezuela’s central bank, introduced an Android app. The aim of this initiative was to help the country’s residents convert the country’s old fiat currency Bolivar into the newly launched Petro-pegged Bolivar Soberano. Practically simultaneously Maduro ordered banks to adopt the as a unit of account. Now all public and private banks in the country are obliged to present all financial information in Bolivars and Petros. One of the latest initiatives is making it obligatory to pay for passports in Petros. Maduro Further Takes All the Imaginable Steps to Push the Adoption of His Petro Token

5 days ago

Bitcoin SV Price Surpasses $120 as Poloniex Volume Surpasses BCH

There is a lot of focus on the Bitcoin Cash fork which occurs on November 15th. At this stage, it seems things are heading in an interesting direction, albeit most people would not necessarily expect this peculiar trend. Bitcoin Cash itself is losing value, yet Bitcoin SV’s value is on the rise in spectacular fashion. At this rate, it is quickly becoming a very hot commodity among speculators. Bitcoin SV Price Rises Triggers Holders Because of the controversial nature of Bitcoin Cash’s upcoming hard fork, the network will be divided into two camps. That in itself is problematic, but there appears to be no recourse at this time. One chain will follow the ABC developers, which maintained Bitcoin Cash until now. The rest will follow Bitcoin SV, a fork of Bitcoin Cash created by Craig Wright and nChain. Based on the Bitcoin SV price movement in the past 24 hours, it seems Wright’s vision is getting a lot of support. The BCHSV value - currently an IOU on Poloniex and HitbTC - has risen to 0.0183 BTC, which represents a net 10% increase. BCHABC, on the other hand, has lost 13.1% in value. All of this appears to confirm things are looking pretty good for Bitcoin SV, at least at this time. Looking across social media, there are some interesting developments taking place. On the mining front, Bitcoin SV is clearly the leader with over 70% of the hashrate “pledged” toward this fork. Most of major mining pools are backing this particular proposal, with CoinGeek and SVPool being the biggest proponents. Bitmain is the only notably absent pool at this time. #BitcoinSV now has support from 75% of miners mining #BCH. Your move Bitmain. I don't consider this over yet though. pic.twitter.com/vrqeVRHv5s — Martin Skieller (@MSkieller) November 12, 2018 BTCBoom is one of those people who firmly believe Craig Wright can turn Bitcoin Cash into the project it should have been from the start. While the opinions on that matter will certainly be conflicted, it is evident the trust in Bitcoin SV is shaping up nicely. Only time will tell if this chain is even viable, and if so, what it will entail exactly once the network has gone through its split. Finally a Group of Professionals will Lead (@ProfFaustus) #bitcoin #bch to Unimaginable Succes With all due respect the #BTC Project failed because of the Lack of Good Strategy And Management#BitcoinSV is Honest Strong Long Term Vision, where everybody WINSI'm Going ALL IN pic.twitter.com/4wbQ03Gpgj — BTCBoom (@BTCBoom) November 12, 2018 Ward on Bitcoin confirms there is a lot more to look into when it comes to Bitcoin SV. Although the hashrate clearly favors Bitcoin SV right now, most companies and service providers favor Bitcoin ABC. This latter solution also maintains the majority of network nodes, together with Bitcoin Unlimited. A very interesting week is coming up for Bitcoin Cash in many different ways, that much is almost guaranteed. While it seems #BitcoinSV is winning the #hashrate war, it seems as though #BitcoinABC and #BitcoinUnlimited have the most company support. Seems like this will come to a photo finish come the 15th. pic.twitter.com/hGtptpmeyx — Ward on Bitcoin (@WardOnBitcoin) November 12, 2018 All of these developments paint an interesting future. Pre-fork trading of coins is never a solid indicator, yet it keeps things very interesting. BCHSV is also getting more trading volume on Poloniex compared to Bitcoin Cash, which is another telltale sign. How all of this will pan out when everything is said and done, remains everybody’s guess at this time. Anything and everything is possible in the cryptocurrency industry. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin SV Price Surpasses $120 as Poloniex Volume Surpasses BCH appeared first on NullTX.

5 days ago

This Week In Crypto: Swift, Bitcoin, Ripple, Stellar, Tron, and Ethereum

The first 10 days of November have been quite eventful in the cryptocurrency space. The market has been bumpy as usual but the crypto community is looking forward to something interesting in the future. For those who missed the fun though, we have handpicked the best and most interesting stories for you and here they are. SWIFT Despite Ripple’s popularity in transboundary payments, The Society for Worldwide Interbank Financial Telecommunication, SWIFT, has denied rumors that it intended to integrate with Ripple or use its payment protocol. While most payment companies see Ripple as a threat to SWIFT, there have been speculations that the two could collaborate to upgrade SWIFT’s payment system. Apparently SWIFT is doing a solo upgrade which it has instructed all its users to upgrade to, a new platform known as Swift GPI. Ripple staff is said to have been attending SWIFT functions and there has been some intercompany movement of the same but it doesn’t seem like the relationship will go beyond that as far as SWIFT is concerned. Bitcoin Bitcoin has received its fair share of the rough market since October, however, it experienced a significant price surge within the last week. The surge was substantial, taking the price from ~$6200 to over $6,500. Meanwhile, concerning the price of the asset, Venture Capital investor Tim Draper is still bullish and optimistic that the asset will reach $250,000 by 2022 despite the fact that his prediction of the same price for April 2018 did not come true. In Draper’s view, the huge surge can only happen if bitcoin can be used on a day to day basis to buy Starbucks Coffee etc. Also, a large transaction volume was recorded coming from South Korea based exchange Bithumb. The exchange recorded a transaction of up to $666,658,444 from Bitcoin to Korean Yon. The large and growing transaction volume if sustained is expected to push Bitcoin’s price to $6,800 soon. Ripple (XRP) The cryptocurrency with an unusual success in cross-border payments is taking its efforts to expand its reach to the next level by collaborating with NASDAQ. This collaboration is expected to be concluded by 2019 when NASDAQ is set to launch its cryptocurrency platform. When sealed, the partnership between the two is expected to bring Ripple to the same level with leading crypto exchange Coinbase and possibly beat it. Stellar XLM Stellar is another prominent cross-border payment token. The company is moving to list its token on the Blockchain wallet. XLM will be the fourth crypto asset listed on Blockchain after Bitcoin, Ethereum and Bitcoin Cash. In view of the listing, Stellar will be doing an airdrop for Blockchain’s 30 million users. This is said the be the biggest airdrop ever, with $125 million worth of XLM to be given out. Tron (TRX) The hot cryptocurrency and blockchain company has achieved many great feats in the year, this month with smart contracts. It has only been two weeks since Tron launched its smart contracts and it already hit 12 million smart contract triggers on its network as announced by the founder and CEO Justin Sun. Sun had announced in October that Tron was going to launch Odyssey 3.1 which would make way for smart contracts on its network. According to Sun, the expected number of smart contracts on the network by the end of the year is 50 million. Will they achieve it? Only time will tell. Ethereum In the last week, Ethereum, just like Bitcoin, experienced a significant surge even more than Bitcoin by 5.9% to reach over $221 from $190. Although it has dropped to $211 since the surge, it is still significantly higher than it was at the beginning of the week. On the contrary, Ethereum’s BAT token, though it experienced a similar surged, has experienced a “counter fall” resulting from a loss of up to $6 billion of its valuation within a 48-hour period in the week. It is said to have received the hardest hit any large or mid-cap token got within the week. The post This Week In Crypto: Swift, Bitcoin, Ripple, Stellar, Tron, and Ethereum appeared first on ZyCrypto.

6 days ago

Cardano Price Increase Seems Bound to Retrace Quickly

With most of the top cryptocurrencies struggling to remain in the green, speculators are looking well beyond the top 5 to make a quick buck. In the case of Cardano, the current market momentum seems rather promising in this regard. Although it remains unclear how long this trend will last this time around, there is some money to be made. Cardano Price Shows Promising Signs It is not uncommon for different markets to head in completely opposite directions during the weekend. Whereas most currencies seem tied to Bitcoin in one way or another, there is always a chance a breakout might occur. Today, it seems as if Cardano is going for such a breakout, albeit the current uptrend still appears to be on very weak legs first and foremost. Over the past 24 hours, the Cardano price has risen by 1.8% in USD value and 1.85% in BTC value. Both of these trends are relatively promising, although it is not necessarily the trend one is effectively looking for in terms of “major gains”. Combined with a relatively weak volume of just $19m, this uptrend will not necessarily last all that long. Looking at social media, it seems there are a few people hoping for a Cardano breakout. SP is one of those individuals, although it seems the breakout may not necessarily remain in place moving forward. Even so, there is an accumulation zone in place, and it wouldn’t take all that much to break through the first resistance level. $ADA breakout?#cardano #ada #bitcoin #btc #crypto pic.twitter.com/gZLgqRRSiJ — SP (@Pits90) November 11, 2018 While Cardano is not necessarily known for its marketing, that is not necessarily a bad thing by any means. Fluffee sees Cardano, as well as other projects - in a bright spotlight because they mainly focus on progress, rather than marketing stunts. As such, the project is checking a lot of the right boxes for some people, albeit speculators will gladly see things move in a different direction. Marketing is important, but look at #ADA & #OMG - purely focused on work & progress, this makes them undervalued and once they actually switch to full scale marketing campaigns it will be hot around them. — Fluffee (@CryptonianJake) November 11, 2018 In the world of cryptocurrency, chasing profits is always a dangerous game. For Philip King, there may have been some serious disappointments over the past few months. He actively warns people to not get involved with ADA’s price movement right now, primarily because it will probably end up like Basic Attention Token’s fall from grace. Don’t get caught up in the #ADA #XLM pump. It’s gonna dump on you..... Have learned nothing from #bat #zrx #etc#btc #binance #crypto #btfd — Philip King (@PipKing101) November 11, 2018 All of the signs associated with Cardano’s price momentum show there is an interesting day ahead, but the momentum is not necessarily looking all that great just yet. If the trading volume picks up a bit, there may be a push to $0.08 later today. If not, it seems this will be the highest value to be achieved prior to the next correction setting in. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Cardano Price Increase Seems Bound to Retrace Quickly appeared first on NullTX.

6 days ago

XLM Price Surges Despite Hard Fork Scam Concerns

In the world of cryptocurrencies and digital assets, things are looking a bit bleak once again. Weekends are hardly known for positive trading momentum, and this time around is not all that different. The Stellar price is on the rise a bit, although the value may struggle a bit to reach $0.3 again. Some recent ecosystem developments also have people on edge, for obvious reasons. Stellar Price Momentum Looks Intriguing It is always difficult to determine where the markets are headed over the weekend. In the case of cryptocurrencies and digital assets, that situation is no different whatsoever. There are some interesting trends shaping up, whereas most of the top markets are in a bit of a slump. Stellar is one notable exception in this regard, as its momentum is at least somewhat positive. In the past 24 hours, the value of XLM has risen by 4% in both USD and BTC value. That in itself is pretty interesting to keep an eye on, as XLM does some things most other altcoins or assets are not capable of as of right now. Even so, there is very little trading volume for XLM, which does not necessarily instill much confidence whatsoever. As such, this uptrend can easily fall apart in the coming hours. When looking across social media, XLM does not appear to be the talk of the town despite this current uptrend. That is always a bit surprising, mainly because currencies which rise in value are often quite hot topics on Twitter. In the case of XLM, Coindorado claims it is a good buy simply because it is not a coin being actively “shilled” on social media. An interesting sentiment first and foremost. Buy coins no one is shilling on twitter .... Made my biggest profits with #XLM and #TRX without anyone tweeting about it. Fall 2017 #bitcoin #btc #crypto #iota #sc #kin #nebl #maid #link #xvg #xrp pic.twitter.com/qSHhYfqCj8 — Coindorado (@coindorado) November 11, 2018 There are those who genuinely express concerns over the Stellar Activity “fork” allegedly created by the Stellar team itself. This is, according to XRP GoldFish, a blatant attempt to evade scrutiny by the SEC while trying to get listed on the Coinbase exchange. This hard fork of XLM has raised a lot of concerns so far, although it may not even be a legitimate product in the first place. So #xlm wants to get on @coinbase (so it can pre pump then dump). But @StellarOrg and @JedMcCaleb know @SEC_News see it as a security. What to do? Make a hard fork (Stellar Activity #xla) as well as giving away $125m worth of xlm (coz nobody wants to buy it)#fail #scam — XRP Goldfish (@xrpGoldfish) November 11, 2018 Speaking of Stellar Activity, a lot of people genuinely believe this is a scam first and foremost. It is certainly possible that is the case, and users are advised to take the necessary precautions at all times. Any solution asking to import private keys needs to be avoided unless it is an official wallet developed by the coin’s developers or other reputable companies. Beware of Stellar new Scam going around via /r/Stellar #xlm #stellar https://t.co/nExiKmOxCS — Stellar Reddit (@RedditStellar) November 11, 2018 Based on the current market circumstances, it would appear the XLM price rise may remain in place throughout most of today. Considering how the other markets are struggling, speculators might be intent on keeping this particular trend going for a while. Without sufficient trading volume, however, there will not be any major changes for the foreseeable future. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post XLM Price Surges Despite Hard Fork Scam Concerns appeared first on NullTX.

6 days ago

Head Teachers in China Caught Red Handed Ether Mining at Work

Two school principals in Hunan province, China, have gotten themselves into hot water for mining Ethereum at work. Lei Hua, Principal of the Puman Middle School in Chenzhou, Hunan convinced his wife that mining Ethereum might be a good way to earn some extra income, then put 7 machines to work at school. Lei was put on to the benefits of crypto mining by a cousin, prompting him to spend 10,000 yuan on equipment, one machine followed later by another 6 which he ran round the clock in one of the school’s classrooms. The only problem being between June and November last year he used over $2K of the school’s electricity. So profitable were the school principal’s extracurricular activities that his vice- principal decided to join him. The activities were only tumbled when teaching staff observed unusual levels of noise emanating from the schools’ physics’ lab which clearly couldn’t have been caused by lessons, although the 24 whirring was originally put down to the school’s air conditioning. This noise was emanating from an extra two machines set up there by vice-principle Wang, also purchased from the principal’s cousin. Once the nine machines were discovered by authorities and duo’s earnings were seized, the school returned to its main function; educating the children. The principal was removed from office but his junior managed to retain his job with an official warning. Illegal mining at work does happen, albeit not frequently. Power theft, however, is a far more frequent activity. Russian miners made the news earlier this year when more than 6,000 pieces of mining equipment were found at the site of an abandoned rubber factory in Orenburg, 1,478 kilometers southeast of Moscow near the Russian border with Kazakhstan. Russian ministry of internal affairs spokesperson, Irina Volk, stated that the miners, two former factory employees, had stolen 8 million kW/h of electricity estimated to cost 60 million Russian rubles (RUB, approximately USD 968,000 at time of writing). Media reports suggest that despite rumors of the mining farm’s existence since March, police declined to comment if they had any knowledge of illegal activities taking place. Also, earlier this year, Russian security officers arrested scientists at a top-secret warhead facility in Sarov, 240 miles east of Moscow. Several scientists had tried to use one of Russia’s most powerful supercomputers to mine Bitcoin. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post Head Teachers in China Caught Red Handed Ether Mining at Work appeared first on BitcoinNews.com.

6 days ago

XRP influencer reveals possible plans for additional security on TipBot

A popular influencer in the XRP community who goes by the Twitter name of Dr. T recently engaged in a social media conversation with another XRP follower, Cerberus. The latter posted a question about the method of XRP storage and security on the micropayments platform, XRP Tip Bot. The original tweet read: “@xrptipbot I apologize if this question had been asked before. I was asked by a friend who I’ve just introduced to #XRP: What is the means by which XRP is secured with the #XRPTIPBOT? Where is the XRP stored, how is it secured, etc? The Echo skill is going to bring lots of people” Here, Dr. T responded to the question and stated that Wietse Wind, the creator of XRP Tip Bot uses a cold or hot wallet model to store the currency, similarly to crypto-exchanges. To secure the funds, the user logins can be 2FA or Two Factor Authentication, such as Twitter and Discord, he added. He also wrote that the monthly withdrawal limits make the large-scale hacks impossible as of now. Furthermore, Dr. T stated that Wietse Wind might have plans for additional security, such as automatic regular key/disabling master key script in case of compromise or on-ledger tips that remove the need to store XRP in the XRPTipBot custodial wallet. However, he mentioned that these facts are yet to receive confirmation from the root source, i.e., the creator himself. Recently, the integration of another micropayments service, Coil with XRP Tip Bot surfaced wherein the users of the latter were enabled to STREAM [Streaming Transport for the Real-time Exchange of Assets and Messages] cryptocurrency in small, continuous payments to support the websites of their choosing with tiny contributions. It is believed that this could be the bases for disruptive advancement in the payment industry, for instance, users could pay only for the duration of the video that they have streamed. The post XRP influencer reveals possible plans for additional security on TipBot appeared first on AMBCrypto.

7 days ago

Cryptocurrencies to Target for the Next Bull-Run (OAX, XLM, HOT)

Cryptocurrencies OAX, HOT, and XLM are worth looking into if you’re looking for coins with the best chance to outperform Bitcoin price in Q4 2018. Small Cap Vs. Low Price Cryptos (A Trader’s Mindset) The mindset of a cryptocurrency trader in a bull vs. a bear market is vastly different. During the last bull-run, two types of cryptocurrencies had a tendency to ‘pump.’ Ones with very low market caps on big exchanges and those with very low prices. The coins with low market caps, dedicated teams, with the network to get listed on top exchanges should be acquisition targets heading into the next bull-run vs. the alternative of buying low priced coins. A very low market cap coin with major unknown quarter four events: OAX, should perform exceptionally well in the short term. The market sentiment has continued to shift from the summer of 2018 through the beginning of quarter four. With crypto personalities and technical analysis pointing to a December bull-run, the question becomes fairly obvious: How does one take advantage of the shifting of market sentiment and the possible impending moonshot? The last bull run which concluded 2017 had two main types of cryptocurrencies that saw significant pumps. These two types included very low cost per coin cryptocurrencies regardless of their market capitalization. The other type were coins that had a very low market cap. Coins with a low market cap are the coins which should be targeted vs. the ones that the price seems “cheap” on. Most individuals who are not accustomed to cryptocurrencies do not realize the importance of market capitalization vs. actual price. For example: consider 2 cryptocurrencies, one is trading at $0.50 the other at $2.00, the first has a market cap of $100 million, the second has a market cap of $5 million. Which is the better investment if both are about to have $1 million in demand of the cryptocurrency generated by an announcement? The answer is the second, with a $5 million market cap and $2.00 price. The reason for this is if $1 million of demand is generated for a cryptocurrency with a $5 million market cap the total market cap will increase to $6 million. This 20% increase in market cap will be reflected by the price increasing by 20%, from $2.00 to $2.40. The first coin with a market cap of $100 million would now have a market cap of $101 million and the $.50 crypto would have increased to $0.505. If you purchased the cryptocurrency with the lower market cap you would make 20% compared to 2% for the coin with the higher market cap. With all else equal it is always a better idea to target a lower market cap cryptocurrency vs. one with a ‘lower price.’ OAX has one of the smallest market caps on Binance and is my #1 acquisition target for this reason, along with many others. For those wanting a lower price coin with a significantly higher market cap HOT and XLM are fantastic options. OAX OAX 00 is one of the lesser known and discussed cryptocurrencies, which is a great reason to begin targeting it before the Twitter personalities and “whales” begin their accumulation. OAX is also listed on the highest volume exchange, Binance, which is notorious for solely listing tier 1 projects. So what is OAX’s project that impressed Binance enough to list? I had the pleasure of discussing with the OAX team many aspects about their project during a recent interview. According to Wayland Chan who is the Technology Lead of the OAX Foundation, by the end of 2018 OAX will “deliver a stand-alone DEX using the work done building a scalable layer 2 solution.” This very significant event is not listed on cryptocurrency calendar websites nor is it commonly known in the space. What is most impressive about OAX’s decentralized exchange (“DEX”) is that they plan to have an “off-chain order book, off chain order execution, as well as no custody of user assets.” OAX could be the scalable solution that DEX’s have sought for years. The OAX project is very ambitious but having secured a Binance listing their legitimacy should not be challenged. The first prototype of the DEX was delivered in June and since the developer have been finalizing the layer 2 solution using off-chain solutions to solve the performance problems of blockchains. According to OAX’s Technology Lead, We’ve made huge strides...and expect to soon announce some big news that will definitely rock the boat. As much as I pressed I was unable to get an inside glance at what this ‘breakthrough’ was. This year, OAX was trading as high as $2.28, having dropped to under $0.35 since. With their platform becoming a reality, now is the perfect time to acquire a position. The future of OAX looks very bright. OAX plans to have a layer 2 working prototype by the end of 2018. Their DEX has the potential to revolutionize the exchange community and the scaling difficulties they face. ICOs were all the craze at the end of 2017, DEXs are becoming the next craze with looming regulations and government crackdowns alread

7 days ago

North America: Crypto and Blockchain News Roundup 2-8 Nov 2018

North America Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest blockchain and cryptocurrency news, continent by continent and country by country. USA Politician Tries to set Record Straight on Cryptocurrency Donations: US politician Brian Forde has tried to clarify misconceptions against cryptocurrency campaign donations in the country including lack of transparency. Brian Forde has served previously as Senior Tech Advisor to President Obama and he was the one who educated the president about the new industry. He was also one of the first US politicians to collect cryptocurrency campaign donations during his run for the House of Representatives. He received reportedly $300,000 in donations through Bitcoin alone. He clarified in an article that the misconceptions regarding cryptocurrency donations are false including the allegation that they cannot be traced. Forde cleared that cryptocurrencies have the same process as their fiat alternatives when it comes to campaign donations. SEC Shuts down 12 ICOs in One Year: The Securities and Exchange Commission has shut down a dozen ICOs in one year alone, according to its official report at the end of the current fiscal year. According to the federal regulator, these banned ICOs raised more than $68 million before they were finally shut down. Overall, the SEC confiscated, fined more than $3.945 billion during the same period overall from all violators. SEC to Issue Simplified Crypto Guidelines: The SEC is working on clarifying when and how cryptocurrencies and ICOs can be regarded as securities by the regulator and treated as such according to a recent speech by Director of Corporate Finance. Willian Hinman, the director said on record that the SEC was working to release new regulations in plain English to help new startups looking to offer their tokens in the market. The overall attitude despite these simplifications will remain hawkish. Crypto-favorable Candidates Elected in US Gubernatorial Elections: According to the results of the mid-term elections of this week, five pro-crypto governors have been elected in the country. Three are newly elected governors while two pro-crypto ones have been re-elected. The five governors are given extremely high ranking by the Digital Asset Trade Association that assigns rankings to politicians regarding their crypto-friendliness. Bank of America Gets Tamper-proof DLT Patent: Bank of America, the country’s second-largest bank has secured a blockchain patent that can provide a useful barrier against hacking attempts on banking networks. The patent reportedly prevents tampering by having redundant keys which can be removed from a tampered device for good. Cryptocurrency Pioneer Says He Will Run Only for Promoting Cryptocurrencies: Famed cryptocurrency pioneer John McAfee has said that his run for the 2020 presidential elections is solely meant for the promotion of cryptocurrencies in the country. McAfee will reportedly campaign from the Libertarian platform like in the 2016 elections. However, he has now come out and said that the only reason he is doing this is to promote cryptocurrencies in the country. Canada First Bitcoin-backed Loan Service Launched for Businesses and Consumers: A financial company named Ledn Inc has become the first organization to offer fiat loans in exchange for Bitcoin as collateral. The move was founded by a Bitcoin investor Mauricio Di Bartolomeo who aims to fill the market gap for Canadians who are invested in cryptocurrencies but can’t obtain loans because of various reasons. Marshall Islands President in Hot Water over National Cryptocurrency Launch: The President of Marshall Islands Hilda Heine is in trouble after promoting the idea of a national cryptocurrency in the tiny Pacific nation. She will now have to face a vote of no confidence in the country’s legislature on 12 November 2018. The current currency of the islands is USD despite the country gaining independence from the mainland forty years ago. President Heine incurred the wrath of IMF and the USA after her move to start the island’s own national cryptocurrency. Now she is facing backlash and possible impeachment in the parliament. If she wins this battle, she will launch the Sovereign (SOV) as early as next year. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: BitcoinNews.com The post North America: Crypto and Blockchain News Roundup 2-8 Nov 2018 appeared first on BitcoinNews.com.

7 days ago

Financial Report: Canadian Bitcoin Mining Firm Posts Record $13 Million in Q3

A Canadian Bitcoin mining firm, Hut 8 has reported record revenue of CAD17.7 million ($13.4 million) in Q3, according to its quarterly financial report ending Sept. 30th published on Nov. 8th. The mining firm which claims to be the largest public cryptocurrency company by operating capacity and market capitalization attributes the increase in revenue to the addition of more mining equipment at its new City of Medicine Hat (CMH) facility. This is the company’s record revenue in a single quarter “and a 126% increase from the prior quarter revenue of $7.8 million.” The company also recorded CAD36.4 million ($27.59 million) in the past nine months and CAD7.2 million ($5.46 million) in interest, taxes, depreciation, and amortization (EBITDA), an 86 percent increase from Q3. Figures and Facts The mining firm said that it had 40 BlackBoxes at the beginning of July and brought in 16 more in September to have a total of 56 altogether at the CMH facility. The company’s operating capacity increased by 67.2MW. The mining firm mined 1,978 Bitcoin in Q3 and the cost to mine each Bitcoin was $3.394, which is lower than Bitcoin’s price of around $6,400 and scored a 51 percent mining profit margin. The firm considers itself to be one of “the lowest-cost miners of Bitcoin in the world.” The new CMH facility was launched in July in partnership with Bitfury, a chip maker of Bitcoin mining equipment. Before the partnership, the firm had mined 1,000 Bitcoins since its launch in December 2017. Hut 8’s mining profit margins for Q3 were lower because the competition from other Bitcoin miners increased while BTC’s price appreciated through the quarter. The high summer temperatures in Alberta where the company’s Drumheller facility is located resulted in high electricity costs. Andrew Kiguel, Chief Executive Officer of Hut 8 said: “This summer, a record-setting heat wave in the province resulted in increased electricity costs during certain periods. The result was increased electricity costs at the Drumheller site by approximately $0.01 per Kilowatt hour on average. We are actively managing our exposure to market prices through a number of different means. Despite this, Hut 8 achieved record revenue for Q3 and strong overall margins.” Mining Hardware The company expects the efficiency of the company’s ASIC’s miners to improve in the next quarter due to cooler months in Alberta, “leading to improved performance in Q4 when compared to Q3.” The impact of the hot summer was felt less at the new CMH facility because the mining firm buys its electricity under a fixed price contract. The CMH facility is still operating below capacity, and the firm wants to rectify this by Q1 2019 The mining firm operates 73 BlackBox data centers, and 56 of them are housed at its new CMH facility. The company claims to have a total operating capacity of 85.9MW and a hash rate of more than 640 Petahashes per second. Financial Report: Canadian Bitcoin Mining Firm Posts Record $13 Million in Q3 was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

7 days ago

Q&A Takeaways with INBlock Partner Li Xiaolai

In late September, Li Xiaolai live-streamed his 2018 new book release conference. The new book is titled “The Road to Financial Freedom“. During the Q&A session, Li confirmed that he is participating in a blockchain project that involves no cryptocurrencies. He also expressed his views on topics such as stablecoins, STOs, and public chain projects during the Q&A session. Here is the lightly summarized Q&A What do you think are the two most important factors in the development of the blockchain industry? I think the most important factor in the development of the blockchain industry is the rule of law, that is, let the law restrict or let the law govern whatever is going on in the industry. If there is no law to dictate what can be done and what cannot be done, then there will be a lot of confusion, which is not conducive to advancing the industry. Once the rule of law is fully established, development and growth will naturally follow suit. This is my personal opinion. STO is a hot topic in recent days. Will it be widely implemented in the near future and what positive effect will it have on blockchain? STO is very popular in recent days, but it may not be so after a few years. Mindlessly following a hot topic usually doesn’t make much sense to me. I personally don’t think that STO will have much effect on improving the uptake of blockchain. In theory, STO is not a new concept. Many people have been practicing this for a long time. It’s just an old concept with a newly coined name. Of course, I am not denying the potential of STO, but I don’t think it is a trend worthy of much attention. I don’t think that any asset from non-blockchain industry, when incorporated with the concept of cryptocurrency, will become widely accepted. I think it is nothing more than some people’s wishful thinking. After the USDT plunge on Monday, there were many discussions about stablecoins, and now more and more exchanges are starting to launch various stablecoins or issue their own. How do you view the stablecoin? What is the biggest effect of stablecoins on blockchain assets? The discussion about stablecoins has always existed. I personally have no conflict with Bitfinex. It also doesn’t matter whether or not I am optimistic about USDT. From a very objective perspective, however, I would say that many stablecoin solutions proposed at this moment are not particularly reliable in my eyes, and even less reliable than USDT. What is the biggest effect of stable currency on blockchain assets? In fact, stablecoins themselves are also a blockchain asset. Free from geographic limitation, stablecoins are an extremely convenient way to transfer value. These are its specific advantages. Charlie Munger once said, “The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.” Yet, you don’t recommend an all-in bet in your new book; does your viewpoint come into conflict with Charlie Munger’s way of thinking? Are we in disagreement? Obviously, the answer is not. Why? Because an all-in bet means that if you have two hundred dollars, you put all two hundred dollars into the bet. This is called an all-in bet because you only have two hundred dollars. But the so-called heavy bet does not necessarily mean that you have to invest all your two hundred dollars into the bet. In theory, if you have two hundred dollars and your target investment is $10. If you invest $10 in a project, it is already a heavy bet. So fundamentally, there is no conflict between us. How do you view the slump of U.S. stocks in the past few days? Has the U.S. bull market come to an end? Will U.S. stocks repeat the stock market crash of 2008? The two-day decline of U.S stocks has triggered a global stock market crash. Not only China, many other countries’ stock markets were also hit hard. In fact, not only was the stock market hit hard but even cryptocurrencies- which were often traded differently from stocks- were heavily impacted. So how do you interpret the plunge? In fact, it is very simple. The slump simply means that the U.S. is heading into a bear market for stocks and the bull market has come to an end. What else can be the explanation except that severe trouble lies ahead for the U.S. economy and stocks? Whether or not the U.S. stocks will repeat the stock market crash of 2008, no one knows, no one is able to guarantee the future. However, if one looks at the trend, this round of economic impact is likely to be very severe for the U.S, so everyone should be prepared. In the Internet era, copyright has often been compromised. I want to know your opinion in terms of intellectual property rights. Will blockchain be the solution for intellectual property management? Are there projects or researches currently underway to tackle the issue? In fact, not only in the internet era, copyright has been compromised even before the advent of the internet. Peopl

8 days ago

Li Xiaolai Exits the Cryptocurrency Community

This is a piece that I thought was highly relevant and an ongoing feud between INBlockchain partner Li Xiaolai and Didi founder Chen Weixing. This is a selective curation from an article originally posted on Blockzone.com Li Xiaolai, the “richest man in the cryptocurrency”, has left the community, leaving chaos in his wake. A Storm of Public Speculation In the early morning of September 30, Li Xiaolai posted a message on Weibo, stating that he “will not personally make any investments in projects (whether it is about blockchain or not),” and that he is “still optimistic about blockchain technology in the long run.” “From now on, Li Xiaolai will not personally make any investments in projects (whether it is about blockchain or not, or whether it is an early investment or not). Therefore, if you see Li Xiaolai claimed as the investor in the future (as has previously been claimed for a long time, falsely for almost 99% of the projects), please do not pay any attention to it. I am going to take a few years to seriously change careers. As for what to do next, I have not thought it through yet. However, I am still optimistic about blockchain technology in the long run.” This post generated a storm of public speculation. People from all walks of life guessed about Li Xiaolai’s motivation for leaving the cryptocurrency community. Is he like a rat escaping from a sinking ship? Does he feel the blockchain markets will continue the downward trend? Is regulation tightening? Is Li Xiaolai protecting himself? Is he wealthy enough already? Does he just want to do what’s right for the people? Does he want to slow down his pace after being part of the bustling crypto scene? Does he want to manipulate things behind the scenes? Li Xiaolai did not offer any further reply. Li Xiaolai’s opponent, Chen Weixing, asked five questions on his personal Weibo. He listed Li Xiaolai’s previous projects that have not yet been paid off and asked seriously “whether a ‘public’ figure who has collected a huge amount of money from others can exit the cryptocurrency community, taking their money with him.” Some media workers have sharp eyes. Someone has said that he would like to exit from the currency community. I really admire his courage. But I have a few questions: 1. He raised funds for more than 20 token-issuance projects, and he is the actual controller of some of the projects. The funds of most of the projects are stored in his accounts. I don’t know how he will manage the funds after changing his profession. 2. INBlockchain has raised 300 million yuan, and most of the funds are claimed to have been invested in various token-issuance projects. What about the post-investment after he changes his profession? 3. For the Xiong’an Fund, 30 million yuan was provided by the government. Some of the funds are invested in the token-issuance projects supported by Li Xiaolai. Although he is no longer a partner, they are still the main shareholders. I do not know what will be done for the post-investment management. 4. With Alipay, he established “Fengli Funds” by collecting funds from supporters and illegally raised more than 400 million yuan at an interest rate of 8%. Most of the money was also invested in blockchain, so how will withdrawal of these funds be handled in the future? 5. Before the blockchain token was issued, he had conducted an equity crowdfunding of nearly 100 million yuan through companies such as Make Xinsheng, and all these funds were used for investment. I do not know how this will be explained to investors. I would like to ask whether a “public” figure who has collected a huge amount of money from others can exit the cryptocurrency community, taking their money with him. The hot discussion about Li Xiaolai’s sudden departure from the cryptocurrency circle confirmed an obvious fact: Li Xiaolai has a large influence in the community. The cryptocurrency community is a world of its own and includes fixed retail investors and powerful wealthy leaders. Changing professions and making profits from retail investors is second nature to Li Xiaolai; he will go wherever he wants to go. However, his wealth is not just arbitrage and capital. As many know in the cryptocurrency community, Li Xiaolai has maintained a blurred relationship with many project parties, and media outlets have identified him as a previous supporter of several pyramid-scheme platforms. As a result, Li Xiaolai’s wealth is not simply a differential of the price obtained from ordinary retail investors. Instead, it is referred to as “illicit money” by the industry. Li Xiaolai is smart enough to take a step back and look for long-term benefits. In the cryptocurrency circle, the ability to profit is closely related to the bull-bear cycle. As the regulatory policies became more strict coinciding with the bear market, Li Xiaolai denied his behavior and published books to bolster his reputation. Trapped in Negative News Li Xiaolai has said that the first half of his life

8 days ago

Canadian Bitcoin Miner Hut 8 Reports Q3 Loss of $8.7 Million

Hut 8 Mining Corp., a Canadian bitcoin mining company, has released its third quarter earnings report, which shows a net loss of US $8.7 million on higher depreciation costs. Depreciation spiked to $13.3 million, wiping out mining profit which came to $6.7 million. Also Read: Trade.io Acquires Primus Capital Markets to Offer BTC-Backed Forex Trading Revenue Soars but Profits Fall During the third quarter of 2018, the Toronto-listed miner extracted 1,978 BTC at a cost of $3,394 per coin, almost half the average market price of bitcoin for the three months, which averaged $6,400. Hut 8 said this difference explains the profit on mining, at margins of about 51 percent. Overall, the company mined 3,581 BTC for the nine months to Sept. 30, and 4,200 BTC since operations began in December 2017. According to the earnings release published Nov. 8, Hut 8 reported revenue increase of 126 percent to $13.4 million from $5.9 million the previous quarter due to increased operational capacity. The $189 million-valued company deployed an additional 16 Blockboxes in September at its mining facility in the City of Medicine Hat (CMH), bringing it to a total 56 Blockboxes at the site. Adjusted earnings before interest, tax, depreciation and amortization soared 86 percent to $5.5 million from $2.96 million a quarter earlier, “largely as a result of increased revenue from the new facility at CMH.” Hut 8 expects to see improved efficiency of the ASIC chips used to mine bitcoin during the colder months in Alberta, western Canada. Record Temperatures Hurt Margins Record-breaking summer temperatures in the province caused electricity prices at the company’s Drumheller facility to rise, contributing to lower profit margins. The unit procures power from the Alberta grid. However, the impact of a hot summer was far less at Hut 8’s larger facility in CMH, which purchases the majority of its electricity under contract with fixed prices. Andrew Kiguel, chief executive officer of Hut 8, said: Our Drumheller facility represents approximately 20 percent of our operations. This summer, a record-setting heat wave in the province resulted in increased electricity costs during certain periods. The result was increased electricity costs at the Drumheller site by approximately $0.01 per Kw/h on average. We are actively managing our exposure to market prices through a number of different means. The cryptocurrency mining company was established through an exclusive arrangement with Bitfury Group, a leading blockchain technology company. Through Bitfury, Hut 8 has access to a proprietary mix of hardware, software and operational expertise to construct, optimize and manage data centres in low-cost and attractive jurisdictions. Shares of Hut 8 are up 4.21 percent at $2.25 in Toronto trading at the time of going to press. Over the past 52 weeks, Hut 8 shares have reached a high of $3.80 and a low of $1.77. What do you think about Hut 8’s quarterly performance? Let us know in the comments below. Images courtesy of Shutterstock. The Bitcoin universe is vast. So is Bitcoin.com. Check ourWiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page The post Canadian Bitcoin Miner Hut 8 Reports Q3 Loss of $8.7 Million appeared first on Bitcoin News.

8 days ago

Lessons Learned from the Biggest Crypto Hacks in History

As you may know, the cryptocurrency industry is extensively targeted by hackers. Unfortunately, attackers have been quite successful in this space with plenty of high-profile attacks targeting crypto services. In just the first half of 2018, $1.1 billion worth of cryptocurrency was stolen from victims. These hacks painted a gloomy picture of the security of blockchain-related services, and some had a huge impact on the whole industry. Let’s review the most significant breaches and then see what we’ve learned from those hacks. Coincheck - $532 million January 26, 2018, the Japanese cryptocurrency exchange Coincheck froze all withdrawals on its platform. At first, the company published a blog post stating that they had stopped all NEM deposits: “Depositing NEM on Coincheck is currently being restricted. Deposits made to your account will not be reflected in your balance, and we advise all users to refrain from making deposits until the restriction has been lifted,” Coincheck announced. However, soon after that, the cryptocurrency exchange extended the freeze to NEM sales and purchases, as well as all withdrawals - including crypto and fiat pairs. It turned out that the reason for the suspension of withdrawals on the exchange was due to a hack, which resulted in the loss of $534 million worth of NEM. This attack is still considered the largest heist in the crypto industry. In a press conference hosted soon after the hack, Coincheck provided the details of the attack, stating that the attackers succeeded because the stolen NEM was stored in a hot wallet. The hackers managed to steal the private keys for the wallet, successfully draining the funds into their own wallets. Mt.Gox - $473 million For crypto enthusiasts, this is the story you’ll tell your kids when you are teaching them how not to store their funds. The Mt.Gox hack - which took place in early 2014 - had by far the largest impact of all the attacks listed here as the market was much smaller then. At the time Mt.Gox was the number one cryptocurrency exchange, handling over 70% of Bitcoin transactions. On February 7, 2014, the cryptocurrency exchange temporarily stopped all BTC withdrawals, which was extended to all trading activities on February 24. After that, the website went offline. Mt.Gox took these steps due to a hack, which resulted in the loss of the customers’ 744,408 Bitcoins as well as 100,000 BTC belonging to the company. At the time, the total amount the hackers stole was valued at approximately $473. As of November 1, 2018, despite it having been a bear market since early this year, the total BTC stolen from Mt.Gox is worth over $5 billion. Due to this unfortunate hack, the cryptocurrency exchange declared bankruptcy on February 28, 2014. It was found that the reason the attackers succeeded was that the exchange stored most of the cryptocurrency that was stolen in a web-based hot wallet, which had a vulnerability that the hackers took advantage of. BitGrail - $195 million In February 2018, the Italian cryptocurrency exchange BitGrail announced that it had been hacked, losing approximately $195 million worth of Nano, the cryptocurrency formerly known as RaiBlocks. Nano could be considered as one of the most unfortunate cryptocurrencies of all time, as it had increased its value from $0.2 to roughly $10 surviving even in early 2018’s bear market. But the hack has affected the crypto badly as approximately 17 million of the coin were stolen from BitGrail. As of November 1, 2018, Nano’s price stands at nearly $2. In a blog post on the company’s website, BitGrail stated that their internal checks revealed that the 17 million Nano was stolen from wallets managed by the cryptocurrency exchange. On the same day the company discovered the loss, they reported the incident to the authorities, the statement said. Despite the fact that the cryptocurrency was stolen from the Italian exchange’s wallets, the company has started to blame the Nano development team for the incident. “[BitGrail is] pressing charges against you due to your irresponsible behavior,” Francesco Firano, the owner of BitGrail stated. According to Mr. Firano, due to the non-collaboration of the Nano dev team, his company was unable to recover the lost funds. On the other hand, according to a Medium post from the Nano team, BitGrail offered a controversial solution to recover the $195 million of stolen funds. The team stated that Mr. Firano suggested an option, in which the ledger of transactions had to be modified. Nano devs stated that this is an action that is not possible, and not a direction they wanted to pursue. We still don’t know for sure who was responsible for the incident, although there is currently a court case between Nano and BitGrail. Bitfinex - $72 million In August 2016, nearly $72 million worth of BTC (almost 120,000 Bitcoins) was stolen from Bitfinex. Due to the magnitude of the attack and the fact that Bitfinex did not publish the details of their internal inve

8 days ago

Maduro Says Petro Purchasers Can Exchange It For Any Crypto, Plans to Take Petro to OPEC in 2019

Allegations that Venezuela’s Petro cryptocurrency is all hot air hasn’t stopped President Nicolas Maduro from announcing a special exchange period for the Petro, and that he’ll be presenting it to the Organization of the Petroleum Exporting Countries (OPEC) next year as a unit of account for Venezuelan oil. RT @PresidencialVen: #NOTICIA NEWS: Everyone who saves […]

8 days ago

Cryptocurrency Investor Protection Laws are Necessary, says Korean Bar Association

The Korea Bar Association is calling on the government to put in place laws guiding digital currency and investor protection. Bar Association Calls for Cryptocurrency Laws According to Reuters, South Korean lawyers called on the government to create laws that would enable the development of the digital currency industry and improve investors’ protection in the country. At a news conference held at the South Korean parliament, President of the Korean Bar association, Kim Hyun, said: We urge the government to break away from negative perceptions and hesitation and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies. The South Korean government has, however, declared that its final stance on virtual currency regulation after the completion of its study. At the moment, financial regulators and the government are carrying out comprehensive research on cryptocurrency and blockchain technology. It is, nonetheless, surprising to find the Bar Association, a body for all local lawyers in South Korea, openly campaigning for a particular sector. The Asian country is home to popular digital currency exchange platform, BitHumb. The country, however, is quite slow when it comes to cryptocurrency regulations. Japan, its Asian counterpart, has, on the other hand, taken steps to create a favorable climate for the cryptocurrency industry. With the two biggest hacks happening to Japanese exchanges, the country tightened its regulatory noose on digital currency exchanges. The Japan FSA went further to grant self-regulatory status to the country’s virtual currency industry. This decision gave the industry the right to monitor the activities of digital currency exchanges in the country. The South Korean government and regulatory bodies can take a cue from Japan to foster better cryptocurrency relations in the country. Cryptocurrency Regulations in South Korea The South Korean government and lawmakers have blown hot and cold when it comes to virtual currency regulations in the country. At the moment, there is a ban on initial coin offerings (ICO) and anonymous digital currency trading. Earlier in the year, the country stated its willingness to create a favorable environment for cryptocurrency exchanges and decentralized technology. The government initially announced plans to relax virtual currency trading in the country. Furthermore, the government announced that it would most likely publish its official stance on virtual currency ICOs in November. Although, various members of the National Assembly show divided opinion regarding the ICO ban. Ethereum World News also reported that South Korean banks gave cryptocurrency traders not willing to convert to the real-name system, a tough time. In Q1 2018, the country was considering adopting the BitLicence system for virtual currency regulation similar to New York’s BitLicence. Image courtesy of Shutterstock. The post Cryptocurrency Investor Protection Laws are Necessary, says Korean Bar Association appeared first on Ethereum World News.

8 days ago

A Dive Into Blockchains LLC Global Launch Keynote Speech

In a keynote speech at a Blockchain Conference held November 1st in Prague, Jeffery Burns opened the Blockchains LLC global event launch by presenting himself after being introduced by his brother and president of the company. The speech that lasted a little over 30 minutes was an opportunity for Burns to unveil his company’s plans for the next decade. Describing himself as a consumer attorney by trade, Jeffrey Burns opened his keynote speech by describing his practice focus as directed toward predatory lending, claiming to have always fought on behalf of consumers. Burns held that the Blockchains LLC initiative stemmed from his purpose to make a difference in the world. He also confided that a soul-searching journey drove him to learn about Bitcoin, then the Ethereum Whitepaper written by Vitalik was where he started to understand the real life-changing potential of Blockchain Technology. Burns declared: “Imagine a world where anybody anywhere can collaborate, establish the rules of that collaboration, enforce those rules, exchange value, and do it on the blockchain, no government, no banks, no corporations, just trusting in math. I believe it is the first time in humanity’s history that we have this potential,” Burns then tackled centralized permissioned blockchains and giant internet firms that have monetized customers’ private information. He classified the threats looming over the nascent blockchain ecosystem as affecting three main categories, namely identity, custody and big banks. Identity Protection Burns unveiled his company’s futuristic approach to identity protection through implementing cutting-edge technology in this field. Burns explained: “We created NetID. NetID uses vein-scanning technology, which is a light that flashes in your veins, and then hashes it, put some personal information in that will identify you and only you have the key to that. That NetID will be able to link to uPort and other identification systems and will create a singular biometric identity that we can use for our custody solution.“ Custodianship Plans Burns named custody to be the biggest area where existing flaws could be taken advantage of by thieves and hackers. He explained his statement by hinting that the whole blockchain ecosystem could collapse if people start losing their digital assets because they don’t have access to their private key. He added that in a digitally immersed future those assets could be any form of properties, goods or resources, like the keys to their homes for instance. Burns affirmed that Blockchains LLC has already began working on its vault system contracts with Giveth, a community of software and blockchain developers. He revealed: “We created a series of EDCCS [executable distributed code contracts, aka Smart Contracts, Ed. Note] so that people will be able to store digital assets in cold storage that could then be moved to warm storage and then to hot storage every asset will eventually be digitized and those consumer protections on those digital assets are going to be key.” The second aspect of custody Blockchains LLC allegedly focused on, is where to store backup keys and how to distribute them in a way to prevent theft. Burns revealed that his company acquired two nuclear bomb resistant, Electromagnetic pulse (EMP) resistant, underground bunkers the US government built in the 1960s along with AT&T. Those bunkers will be repurposed, alongside a new bunker the company intends to build in Nevada. Furthermore, the company announced that it has acquired a similar underground vault in Switzerland and one in Sweden for its global citizens. “What we will be able to do is provide security that is unmatched that no bank, no single government will be able to offer to the people who want to put their digital assets in storage here.” ‘Blockchains Graphene Valley’: The Smart City Plan A week before the event rumors swirled about the company’s plans, and the Smart City scenario was exclusively evoked by blokt. The hologram of the little girl featured in the company’s teaser video asked Burns on the next revelation to which Burns answered: “We are building the world’s first smart city based on blockchain technology from infrastructure all the way up. 68,000 acres, roughly the size of Reno, half the size of Prague. The government of Nevada deemed it Innovation Park. It’s not so much a city as much as a series of different projects to highlight the power of the public blockchain.” He added that the plot of land will feature a 10,000 acres campus as part of the innovation park that he named “Blockchains Graphene Valley.” Burns proclaimed that the city will be a high tech, high-security park and a research and development facility that will incubate AI, nanotechnology, 3D printing all using blockchain as their core. Burns also disclosed that NV Energy a Berkshire Hathaway company signed a MoU with Blockchains LLC to incubate new types of energy relationships with their customers, like peer to pee

8 days ago

Cryptocurrency and Investor Protection Laws are Necessary, says Korean Bar Association

The Korea Bar Association is calling on the government to put in place laws guiding digital currency and investor protection. Bar Association Calls for Cryptocurrency Laws According to Reuters, South Korean lawyers called on the government to create laws that would enable the development of the digital currency industry and improve investors’ protection in the country. At a news conference held at the South Korean parliament, President of the Korean Bar association, Kim Hyun, said: We urge the government to break away from negative perceptions and hesitation and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies. The South Korean government has, however, declared that its final stance on virtual currency regulation after the completion of its study. At the moment, financial regulators and the government are carrying out comprehensive research on cryptocurrency and blockchain technology. It is, nonetheless, surprising to find the Bar Association, a body for all local lawyers in South Korea, openly campaigning for a particular sector. The Asian country is home to popular digital currency exchange platform, BitHumb. The country, however, is quite slow when it comes to cryptocurrency regulations. Japan, its Asian counterpart, has, on the other hand, taken steps to create a favorable climate for the cryptocurrency industry. With the two biggest hacks happening to Japanese exchanges, the country tightened its regulatory noose on digital currency exchanges. The Japan FSA went further to grant self-regulatory status to the country’s virtual currency industry. This decision gave the industry the right to monitor the activities of digital currency exchanges in the country. The South Korean government and regulatory bodies can take a cue from Japan to foster better cryptocurrency relations in the country. Cryptocurrency Regulations in South Korea The South Korean government and lawmakers have blown hot and cold when it comes to virtual currency regulations in the country. At the moment, there is a ban on initial coin offerings (ICO) and anonymous digital currency trading. Earlier in the year, the country stated its willingness to create a favorable environment for cryptocurrency exchanges and decentralized technology. The government initially announced plans to relax virtual currency trading in the country. Furthermore, the government announced that it would most likely publish its official stance on virtual currency ICOs in November. Although, various members of the National Assembly show divided opinion regarding the ICO ban. Ethereum World News also reported that South Korean banks gave cryptocurrency traders not willing to convert to the real-name system, a tough time. In Q1 2018, the country was considering adopting the BitLicence system for virtual currency regulation similar to New York’s BitLicence. Image courtesy of Shutterstock. The post Cryptocurrency and Investor Protection Laws are Necessary, says Korean Bar Association appeared first on Ethereum World News.

8 days ago

Young Man Waterboarded and Waxed by ‘Friends’ Who Wanted His Crypto-Wallet Password

A main rule of crypto ought to be ‘don’t tell your friends you have crypto.’ One man violated this unspoken rule and paid a rather gruesome price. The Kid Is an Easy Mark... After a boozy night out on the town, a group of well-heeled young whippersnappers decided to honor to the fraternal code of friendship and make sure that one of their entourage made it home safely. According to The New York Post, the motley crew — David Leica, Steven Dorn, Chris David, and Stephen Orso — accompanied Nicolas Truglia to his luxury apartment in Manhattan. Apparently, the group of privileged young men knew that their friend was flush from his crypto holdings and they proceeded to apply an array of extremely cruel and unusual interrogation techniques in order to coerce Truglia to hand over the login and password details to his crypto accounts. According to court documents, Stephen Orso demanded that Truglia provide him with login information for his cryptocurrency accounts while holding his head underwater in the bathtub, punching him in the stomach and throwing hot wax on him. The peculiar aspect has to do with the youngsters involved in the robbery, who were certainly not short on cash. Orso is the son of a successful venture capitalist. His friends also appear to be well off as well —frequent social media posts displaying red carpet events in the presence of celebrity athletes, musicians, and models. The Plot Thickens Surveillance footage from the high-rise shows the group leaving the premises roughly two hours later. David can be seen “concealing a rectangular object under his sweatshirt consistent with a laptop computer.” Truglia awoke the next morning to find his iPhone, laptop, and hard wallet missing. He is certain that his ‘friends’ pulled a fast one on him, as he was able to ping his iPhone the morning after the assault and the location app showed his phone near an apartment shared by his ‘friends’. As if this wasn’t enough, the plot becomes even more obtuse. The next day Lecia returned Truglia’s iPhone via an Uber, and David supposedly returned a wax splattered laptop to the victim shortly thereafter. A lawyer representing the alleged burglars said the accusations against her clients are “outright falsehoods,” and that her clients were merely being good samaritans “helping a person who had overimbibed” get home safely. Each defendant has been charged with one count of second-degree burglary and the men are expected back in court on March 14. What are your thoughts on crypto robbery and assault, along with its consequences? Share your thoughts in the comments below. Images courtesy of Shutterstock. The post Young Man Waterboarded and Waxed by ‘Friends’ Who Wanted His Crypto-Wallet Password appeared first on Bitcoinist.com.

8 days ago

“We are VERY close to the Van Eck ETF” according to CNBC’s Cryptotrader

In his latest video, CNBC’s Cryptotrader Ran Neuner explores the current state of several hot topics in the world of cryptocurrency. The president of the Marshall Islands faces a motion of no confidence for passing a bill to launch their own currency as a Crypto. The IMF published a report that said ALL Crypto can be used to finance illicit activities & terrorism. Full Story here.https://t.co/cGFSPWdyV0 — Ran NeuNer (@cryptomanran) November 8, 2018 In his video, the Cryptotrader: -Speaks to CZ how Binance keeps the number 1 spot. -Speaks to Van Eck about their internal ETF projections. -Explores the new Bitcoin Cash Fork and Roger about it. -Explores Vitalik’s thoughts on about Ethereum 2.0. -The relationship that the Marshall Islands with cryptocurrency. Watch the full video below. The post “We are VERY close to the Van Eck ETF” according to CNBC’s Cryptotrader appeared first on Coin Insider.

8 days ago

Weiss Ratings Touts HOLO, Says It Could Replace Facebook and the Blockchain

Weiss Ratings is touting Holochain (HOT) on Twitter. The U.S.-based crypto rating agency asked its Twitter followers whether the “hype” surrounding HOT, which is rumored to be in talks with web browser Mozilla for a possible partnership, is justified. Weiss believes it is worth the hype, saying in a tweet: “Let’s just say this: that when the first big killer app takes root, Holochain is likely to become unstoppable. It could replace not just blockchain, but centralized apps like Facebook." Weiss also commented on companies removing the term “blockchain” from their names amid too much hype, which the rating agency similarly did a while ago. (GT)

9 days ago

Expert Opinion: Bitcoins Outlook Looks all Green Technically and Fundamentally While Altcoins Too Show Signs of Positivity

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro.” Bitcoins outlook looks all green technically and fundamentally while altcoins too show signs of positivity Bitcoin breaks the technical triangle on the charts with all eyes now on 200-day moving average Not just technically, fundamentally too a lot seems in favor of the bitcoin After BCH and XRP runs, Ethereum seems to be on verge of a massive breakout Bitcoin slowly gaining strengthen technically as well as fundamentally Everything is falling in place for bitcoin to end the year with some sharp rally. As per technical analysts, Bitcoin has finally broken the triangle that it was forming since the start of the year. Although the breakout is not strong enough, all eyes are now on there prices to give a stronger break to the triangle as well breach the 200 daily moving average to confirm that the bear market is over. Another technical parameter that is falling in favor of the Bitcoin’s massive year-end rally is the famous MACD indicator which when applied to a crypto index highlights the positive divergence in the market. According to the article the MACD, or moving average convergence divergence, the gauge for the Bloomberg Galaxy Crypto Index entered its first positive divergence in a month. The move corresponds with an upward trend in Bitcoin, which makes up around 30 percent of the fund. Bitcoin is up for the seventh straight day and is at its highest level in two weeks, hovering around $6,500. It’s not just technicals, fundamentally too there is a lot of things falling in favor of the Bitcoin to ride the rally. Bitcoin’s TPS rate continues to grow, mining power has surged in the last few months, and scaling solutions like SegWit and Lightening are seeing increased effectiveness Game on for Altcoins as well to ride the rally Bitcoin is the leader of the crypto pack and all other altcoins mostly follow the sentiment that Bitcoin prices portray. Although this is majorly true but not always as sometimes alt-coins to take the lead something that we are witnessing from past one week. It was BCH first and then XRP. Now, what’s next. Well if the news has to be believed it could be Ethereum’s turn now. According to the article which was published in Forbes, speaks about services like Oracle which will allow programmers to incorporate real-world data into their smart contracts. Also, there are some positive words from Vitalik coming in on the new scaling solution for Ethereum known as Plasma which may end the misery. All this news is making Ethereum look pretty hot at the moment. It’s been one of the most beaten down cryptos over the last few months and lies way below it’s 200 daily moving average making the coin available at a good bargain The post Expert Opinion: Bitcoins Outlook Looks all Green Technically and Fundamentally While Altcoins Too Show Signs of Positivity appeared first on Coingape.

9 days ago

ZCash Price Enters an Accumulation Phase between $125 and $130

Most of the top cryptocurrency markets remain in the red, for the time being. That is primarily because Bitcoin is slowly bleeding value In such events, altcoins are often dragged down with this negative momentum. One notable exception in the top 20 is ZCash, as it remains in the green without much effort. ZCash Price Shows Lots of Positive Potential It is evident all of the top alternative currencies follow Bitcoin’s price curve first and foremost. While that is not necessarily a bad thing, it is also rather problematic when it comes to altcoins in general. This symbiotic relationship with Bitcoin hinders their chances of breaking out on their own power. Things are seemingly a bit different when it comes to ZCash, one of the privacy-oriented cryptocurrencies. In the past 24 hours, ZCash is the only notable currency to go in the green again. Every other currency has lost value, either in a marginal fashion or through medium-sized deficits. In the case of Zcash, however, things are very different, as it is still up by 1.6% in USD value and gained nearly 3% over Bitcoin itself. That is quite promising when looking at the bigger picture. Looking at social media, it seems GCG Market Research is paying a lot of attention to Zcash for the time being. They even go as far as claiming how ZEC will outperform potentially all other cryptocurrencies in the remainder of Q4. A very ambitious statement, as it will not happen unless there is some truth to the Coinbase listing rumors. So far, those are still false. Hot Crypto of the Week: ZEC - Zcash has had a strong week and we expect more strength. It may get listed on Coinbase in the coming weeks. We expect ZEC to outperform for the remainder of Q4. #GCGDA #Crypto #ZEC #Blockchain #Coinbase — GCG Market Research (@GCGMarketResear) November 8, 2018 There are those who tend to publicly debate the stagnating developments affecting other cryptocurrencies. Andreas H is one of those individuals, by the look of things. In fact, he sees this as a situation which will benefit the interest in Zcash. While there may be some truth tot hat idea, comparing both currencies in any way makes literally no sense whatsoever. I'm very glad I invested on #zec as well this will be very interesting and exiting times ahead. #cryptocurrency #eth https://t.co/N537pi4LdT — Andreas H (@swedish_gold) November 8, 2018 As is usually the case when cryptocurrency market prices make no real sense, arbitrage opportunities pop up out of nowhere. Arbing Tool confirms buying and selling ZEC across different exchanges can yield some very quick profits for virtually no work involved. Taking advantage of these market options is easier said than done, though. #ZECBuy at #Sistemkoin and sell at #Bitfinex. Ratio: 0.84%Buy at #Sistemkoin and sell at #HitBTC. Ratio: 0.79%Buy at #Sistemkoin and sell at #YoBit. Ratio: 1.57%Buy at #Cex and sell at #YoBit. Ratio: 1.33%#bitcoin #arbitrage #arbitraj #arbingtool https://t.co/xiFUPzcOcC — Arbing Tool (@ArbingTool) November 8, 2018 Based on the current market conditions, it seems unlikely ZCash can remain at this level for a long time. After all, no cryptocurrency ever escapes the vacuuming black hole that is Bitcoin. For the time being, it seems a value above $125 should be possible for a while longer, but retaking $130 may be a bit too difficult. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post ZCash Price Enters an Accumulation Phase between $125 and $130 appeared first on NullTX.

9 days ago

Cryptogem Global Defies Zimbabwe’s Central Bank with New P2P Bitcoin Exchange

Cryptogem Global, a new peer-to-peer bitcoin (BTC) exchange, has opened in Harare in defiance of the Reserve Bank of Zimbabwe’s ban on cryptocurrencies. The decentralized platform allows Zimbabweans to buy and sell BTC without the need for intermediaries such as legacy financial institutions. Also Read: French Lawmakers to Lower Cryptocurrency Tax by 6 Percent A Globalized Cryptocurrency Exchange “Cryptogem Global is a ... bitcoin trading platform where people around the globe can exchange their local currencies and e-money to bitcoin,” Melissa Mwale, co-founder and chief executive officer of Cryptogem Global, told news.Bitcoin.com. Mwale said the idea is to create a borderless platform that will not limit trades to a particular country. Offering an example, she explained that the company aims to provide a service that will allow “someone in Zimbabwe to buy from someone in the U.K. using Paypal, Skrill or Western Union.” For some time, virtual currencies have operated under a cloud of uncertainty in Zimbabwe. But the ban on cryptocurrencies — announced by the Reserve Bank of Zimbabwe in May — pointed to the start of a dark and unpredictable phase, as it crippled the operations of the country’s only two digital currency trading platforms, Golix and Styx24. Ever since, bitcoin trades in the southern African country have gone underground or shifted to social media platforms like Whatsapp, where the risk of theft or fraud is significantly higher. The Reserve Bank of Zimbabwe, the country’s central bank, essentially lacks the power to shut down cryptocurrency exchanges, which have been accused of providing unlicensed banking services, in violation of the Exchange Control Act. But the law does not allow it to ban cryptocurrencies, either. An earlier attempt by the Reserve Bank of Zimbabwe to directly close down Golix was quashed by the High Court, which ruled that John Mangudya, the governor of the central bank, did not have jurisdiction over the country’s crypto-landscape. Instead, the central bank shut the exchanges down by proxy, through commercial banks, over which it yields full control. It ordered the banks to close accounts belonging to Golix and Styx24, effectively cutting off their air supply. And with that, all centralized digital currency trading activities effectively ceased in the country. Defying the Ban Melissa Mwale But Cryptogem is defying this backdoor ban in a particularly clever way. The P2P bitcoin exchange does not have any bank accounts, so the central bank can’t shut them down. “Cryptogem does not have any bank accounts in Zimbabwe,” said Mwale, who has seen 300 new registrations on the platform within its first week, with total trades reaching about $2,000. Transaction fees average 0.9 percent for offers and 0.00005 BTC for deposits and withdrawals. She added: There is actually no need for a bank account at the present moment, though we are registered fully as a private limited company in Zimbabwe. We don’t work with banks directly as we do not handle any fiat currency. And if you noticed, the (central bank) ban was mainly directed to using banking services by exchanges. However, the new exchange will be encouraged by Mthuli Ncube, Zimbabwe’s new finance minister. He has spoken positively about cryptocurrency and blockchain technology. “I think the attitude for Zimbabwe should be to invest in understanding (digital assets) innovations,” said Ncube, a professor of economics, in an article published in September. “Often central banks are too slow in investing in these technologies.” To trade on Cryptogem, one typically has to make a BTC deposit, offer and wait for bids that match the required price, or one that is favorable to them. Once a buyer shows interest, both buyer and seller are redirected to a private live chat on the exchange where details of the transaction, including payments, are finalized. The exchange then releases the BTC to the buyer, after holding it in escrow, once the seller confirms payment. News.Bitcoin.com tested the Crypotogem bitcoin-only interface in a $5 deal, which concluded smoothly within minutes. The price of bitcoin on the exchange is significantly inflated, at between $20,000 and $24,000, which reflects exchange rate volatility. Current Zimbabwean bitcoin core prices appear to track the U.S. dollar black market rate, which is priced at three different levels depending on how the payment is made: by bank or mobile transfer, paper notes, and/or coins. Each dollar costs about three times as much for the cash transfer by bank or mobile phone of Zimbabwe’s substitute currency, known as “bond notes,” which the authorities claim is 1:1 with the U.S. dollar. In a market that is sometimes plagued by fraud and the theft of investor funds, security is key. Mwale said that all accounts are secured with two-factor authentication. “Only a very minimum amount of funds are kept online (hot wallet) just to facilitate quick withdrawals,” she added. “On application security

9 days ago

If you use Blockfolio on your phone, you can get the latest ...

If you use Blockfolio on your phone, you can get the latest #OriginTrail $TRAC hot news directly through the app. https://t.co/9xZSwei6fJ

9 days ago

Friends Alleged to Have Ransacked Victim’s Home for Crypto Login Information

A 27-year-old man has reportedly been targeted by so-called friends after they forced him to reveal his crypto account login information when they pushed his head underwater. Hot Wax for Crypto? They say that you should keep your friends close and your enemies closer, but for one 27-year-old man he found out the hard way that the people he thought he could rely on were anything but his friends. Or did he? The four alleged suspects range in age from 19 to 29. After a night of drinking, the New York Post reports that the four brought Nicholas Truglia back to his apartment on West 42nd Street in New York. It goes on to state that charges in a complaint by the Manhattan District Attorney’s Office reported that the four proceeded to ransack the victim’s home. One of the alleged suspects - Stephen Orso, 25 - is said to have demanded Truglia’s login information “for his cryptocurrency accounts while holding his head underwater in the bathtub, punching him in the stomach and throwing hot wax on him.” Not only that, but surveillance video claims to have shown the four leaving the apartment two hours later, with what looked like a laptop under, another alleged suspect, 25-year-old Chris David’s sweatshirt. Truglia informed police that his laptop, two mobile phones, and a thumb drive containing his crypto information were missing. It’s not known if they were able to gain access. However, an iPhone and laptop were later returned. The report doesn’t reference the whereabouts of the alleged second missing phone. However, according to Stacey Richman, a defense lawyer for all four individuals, the allegations against them are falsehoods. Additionally, Richman states that the alleged victim has since recanted what he said. She added: I provided audio to the district attorney’s office wherein the complainant admits these allegations are false. Each of the defendants are reported to have been charged with one count of second-degree burglary. They were all released on bail, but are due back in court 14th March to find out if they have been indicted. Crypto Cybercrime Continues The crypto market is one that has attracted a large following. Consequently, it also means that it will attract criminals intent on stealing from others. Last month, it was reported that the FBI had arrested two people from an online cybercrime syndicate. It’s reported that the group stole more than $3 million worth of cryptocurrency. Reports like this, though, aren’t going to stop. Just as money will continue to be used for money laundering, crypto will also be a lucrative money-making scheme for criminals. Have you been a victim of crypto cybercrime? Let us know in the comments below. Images courtesy of ShutterStock. The post Friends Alleged to Have Ransacked Victim’s Home for Crypto Login Information appeared first on Live Bitcoin News.

9 days ago

The Crypto Market Needs Secure Exchanges: Opinions from Security Experts

Currently, there are more than 200 crypto exchanges available on the Internet. The problem, though, is that more than the majority of them are insecure - only 4% meet the “good” security status, which is a combination of many factors: password requirements, email verification, domain certification. Crypto exchange hacks repeat themselves with regularity (more than $1.1 billion was lost in these hacks) and it seems that this industry can’t go on forever in this manner, it’s not sustainable. Users are tired of losing money, and it seems that the exchanges with weak security measures will be washed out of the market soon. Let’s see what the security experts and notorious developers have to say about it. Thanks to agency.howtotoken.com for support in creating this topic (First platform with proven ICO contractors) Stop losing our money Cryptocurrency Exchanges Are Getting Hacked Because It’s Easy - John Sedunov. John Sedunov is an expert in banking, cryptocurrencies, and financial institutions. She is also a professor at Villanova University. It’s hard to underestimate the role of confidence in these markets where users have to trust their funds to some entity with an unknown legal status. Users have no control over their funds when they deposit cryptocurrencies on an exchange, as opposed to just storing them in cold wallets which is a very complicated process, as it requires managing private keys and at least some technical expertise. A wire transfer from a local bank or buying and storing crypto on the exchange is easier. At the same time, doing this requires confidence that the exchange does everything in their power to protect their funds. “The hacks are bad for users, bad for exchanges and terrible for confidence. If I don’t have confidence in where I’m storing my crypto assets or where I’m investing, how can I really trust any of this?” Exchanges have come a very long way from the unregulated markets where computer geeks would sell magic Internet money. They are now established companies, attracting the attention of large financial institutions and governments. However, not all of the exchanges survived in the process, like Mt.Gox, and not all of them will survive in the future. So, what does it take to survive? Markets will decide who is worthy Utilize 2 - 5 Crypto Exchanges to Hedge Against Hacking Losses, Advises Crypto Security Expert - Dr. Robert Statica. Dr.Statica is a cyber-defense, crypto, blockchain, AI, and technology expert with over 25 years experience in both the private and public sector. There are many crypto exchanges right now, but some of them are definitely starting to get the edge over their competitors. What qualities do they have that make them stand out? Binance, Bittrex, Exmo, Kraken - all of these exchanges have a large trading volume, a long history, and more importantly, none of them have ever been hacked. “People don’t like to use unsecured systems and definitely don’t like to lose their money. I think that people are smart enough now to recognize the power of secure systems and will pull their assets from those exchanges and either try to use others more secure or they will diversify their portfolio between 2-5 exchanges. Some exchanges will lose revenue while others will increase their revenue. Overall money won’t disappear in thin air but rather it will get redistributed. Exchanges have to take immediate & drastic cybersecurity measures but also look at how the coins & wallets are protected in transit and at rest.” The market will define what players are the best in terms of security, and the users will vote with their funds - they will simply stop trading at insecure exchanges. Why do you have to keep your hard-earned money on 2-5 insecure exchanges and hope that losses won’t be bigger than gains if you can simply choose one secure exchange? What should be done by exchanges to increase security? Bitfloor Hacked, $250,000 Missing - Thomas Voegtlin. Thomas Voegtlin is a founder and developer of the popular Bitcoin wallet Electrum. Actually, there are a lot of things that can be done by the exchanges to increase security, and it doesn’t require very sophisticated methods. Thomas Voegtlin formulated a list of security recommendations for exchanges. “Don’t store more bitcoins outside of cold storage than you can afford to lose and remain solvent. This ensures that your business will be able to financially survive a hack.” “Deposits should be sent to cold storage addresses directly.” “Transfer from cold storage to hot storage should be manual only.” “An attacker should not be able to disguise a theft as a series of withdrawals from customers.” “If a withdrawal request exceeds the amount available on the hot wallet, the customer should have to wait. Receiving coins 24 hours later is better than not receiving one’s coins at all.” “Clone your database to a place where an attacker cannot irreversibly modify or delete it from the server.” “Send digitally signed account state

9 days ago

Young Guy Tortured by His Friends to Get The Password to His Crypto Wallet

A group of young professional men was accused by Manhattan District Attorney’s Office of breaking into a friend’s apartment and torturing him in order to gain access to his wallet. According to an article from the NY Post, the group of friends went to drink and have fun, and after the victim was drunk, the criminal group seized the opportunity to break into his apartment and violently force him to reveal the secret keys to his wallet. Nicholas Truglia, 27, never imagined how far his friends were willing to go for money. David Leica, 19, Steven Dorn, 29, and Chris David, 25 and Stephen Orso, 25 accompanied Truglia to his luxury apartment on West 42nd Street at about 2:50 a.m. on Sept. 7, where they proceeded to apply multiple tortures to his friend. The story that appears in the court papers is quite explicit: “(Truglia) provide him (Orso) with login information for his cryptocurrency accounts while holding his head underwater in the bathtub, punching him in the stomach and throwing hot wax on him“ After analyzing a series of surveillance footage, it became evident that the friends escaped two hours after taking Truglia to his apartment. One of them looked like “to be concealing a rectangular object under his sweatshirt consistent with a laptop computer.” David Leica (left) and Stephen Orso (right) According to the victim’s testimony, Truglia woke up the next day and noticed that his iPhone, laptop, and hardware wallet had disappeared. He immediately reported it to the authorities. The prosecution has not given details about whether the criminals stole or misused Truglia’s funds. Nor did they mention which cryptos the victim used. Apparently, Leica returned the iPhone to Truglia the next day in an Uber, and Chris David returned his wax-splashed laptop shortly thereafter. The defense denied all of Truglia’s accusations against the four men. According to Stacey Richman, the group’s defense attorney, her clients were just “helping a person who had over-imbibed.” “I provided audio to the district attorney’s office wherein the complainant admits these allegations are false ... It’s disappointing that our standard of journalism does not permit the innocent to have their day in court and slanders them upon accusation.” The group was charged with second-degree burglary and are due back in court March 14 The post Young Guy Tortured by His Friends to Get The Password to His Crypto Wallet appeared first on Ethereum World News.

9 days ago

Companies Shying Away from the Term “Blockchain” Due to Hype

Cryptocurrency, Blockchain-It appears the ongoing bearish market of 2018 is finally having an impact on companies that once sought to capitalize on the hot button buzzword “blockchain.” On Nov. 6, Fortune published an article detailing a report out of Forrester Research, claiming that the term “blockchain” has become so saturated and stigmatized that companies are not shying away from using it in relation to their technological development and promotional materials. While a year ago companies were rushing to label themselves with blockchain or otherwise indicate that they had found ways to integrate the popular technology into otherwise mundane processes, 2018’s depressed cryptocurrency market has led investors to be desensitized to the development. In place of Blockchain, companies are turning to the trendy sounding “distributed ledger technology,” with Fortune writing, According to Forrester, firms are ditching the b-word in favor of “DLT,” which is shorthand for distributed ledger technology—a more descriptive, if less catchy, term.” In addition, the report states that companies are afraid of the “wild west connotations” associated with cryptocurrency, making the assumption that labeling their brand or product with blockchain will also denote a similar inclination towards price depression. With the crypto markets approaching the final month of a year that has been overwhelmingly disappointing for investors, companies fear that any association with cryptocurrency, even through the central technology of blockchain, will negatively impact their brand-a vast turn around from last years land-grab to integrate blockchain into the marketing of tech companies. The most ridiculous example came in the form of beverage company Long Island Iced Tea Corp. shamelessly changing its name to Long Blockchain Corp. in an attempt to capitalize on the crypto boom of last December. The name change, in addition to the company switching from beverages to investing in Bitcoin mining, appeared to bring about massive short-term returns as investors flocked to buy into a new “blockchain” product. However, with the subsequent decline in Bitcoin pricing, the move proved disastrous for the company and culminated in Nasdaq Stock Market de-listing Long Blockchain Corp. in April due to low market capitalization. While the report chastises companies who are only tangentially related to blockchain adopting the name, it does report a cautious but optimistic outlook for the development of distributed ledger technology, “The networks that are live or under development vary greatly and frequently lack key characteristics that many regard as essential components of a blockchain...On the tools and services side, we’ll witness steady but cautious progress. “Cautious” because DLT hasn’t proven to be a significant, reliable revenue stream for software and service providers, and 2019 won’t be any different.” The report goes on to predict that innovation in the field of blockchain will largely be driven through the tokenization of assets, a future some have reported inevitable following the rise of initial coin offerings and the ability to create blockchains independent of price volatile cryptocurrencies. Forrester Research goes on to give the example of tokenization in the real estate sector, a process that is gaining traction for the use of blockchain without outright creating new currencies. The post Companies Shying Away from the Term “Blockchain” Due to Hype appeared first on Ethereum World News.

9 days ago

Weekly update hot off the press - check out @StewieZhu_DCC's...

Weekly update hot off the press - check out @StewieZhu_DCC's presentation at the #tech workshop in his hometown, ou… https://t.co/9b41tfOw0v

10 days ago

Bitcoin Is Making People Crazy

The office for the Manhattan District Attorney has just uncovered some violent footage of a group of young males who have been charged with one count of second-degree burglary for torturing their friend who happens to be an investor in cryptocurrency. The young men, starting torturing their so-called friend in order to get his login details for his crypto wallet. The security footage which was discovered showed 29-year-old Steven Dron, 25-year-old, Chris David and Stephen Orso and 19-year-old David Leica who had escorted their friend Nicholas Truglia to his luxury apartment on 7th September this year and tortured his to get access to his personal crypto details. The court papers stated that the son of a wealthy venture capitalist, Orso tortured Truglia in order to “provide him with login information for his cryptocurrency accounts while holding his head underwater in the bathtub, punching him in the stomach and throwing hot wax on him.” The culprits are known to show off their luxurious lives on social media and they were seen leaving the victims home after being there for two hours with Leica concealing a rectangular object under his jumpers consistent with a laptop computer. It’s unknown whether or not the criminals gained access to Truglia’s account but either way, they are on temporary bail until March next year when their fate will be decided. This isn’t the first time violence has been used in the cryptocurrency space. The murder of a 24-year-old Norwegian crypto investor also left the industry in shock. The murder was committed by a notorious criminal following Heikki Bjorklund concluding a massive Bitcoin to cash transaction and intended to use the profits to relocate to his own apartment when the killer Makaveli Linden crashed through the window and stabbed him several times, searched through his belongings and disappeared with the proceeds. Linden has been on the run since the incident but has now been apprehended and is currently facing a trial in the Norwegian high court. We’ve heard of scams and hacks, but torture and murder? This is a new one. We’re all friends and enthusiasts of Bitcoin here perhaps violence isn’t the way forward if you want to make profits out of cryptocurrency. Our thoughts are with the friend’s families affected by these crimes. What are your thoughts? Let us know what you think down below in the comments! The post Bitcoin Is Making People Crazy appeared first on Crypto Daily™.

10 days ago


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