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$194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Crypto

On October 16, a Bitcoin user moved 29,999 BTC worth $194 million with a $0.1 fee, a transaction which with banks would cost tens of thousands of dollars. An often pushed narrative against cryptocurrencies like Bitcoin and Ethereum is that it is expensive to clear transactions due to fees sent to miners. However, the $194 The post $194 Million was Moved Using Bitcoin With $0.1 Fee, True Potential of Crypto appeared first on CCN

9 hours ago

Michael Arrington Moved $50 Million USD Worth of XRP In 2 seconds Spending Just 30 Cents in Fees

Despite being perhaps one of the most controversial projects within the crypto-verse, Ripple continues to demonstrate that it is a quality blockchain with practical uses not only for the future but also for the present. In an extract of an interview published by Steven Diep, Michael Arrington testified to this by describing how his company took advantage of Ripple’s technologies to move large amounts of money quickly, safely and cheaply. Arrington, who is CEO of Arrington XRP Capital, mentioned that thanks to Ripple’s blockchain, his company’s development team sent 50 million dollars in XRP with amazing results, according to his words, even better than those expected from other traditional blockchains: “We moved ... 50 million dollars into the Company in XRP in like 2 seconds and it cost 30 cents. Now, That is amazing. There is no way to do that with fiat or Bitcoin.” We moved $50 million dollar worth of XRP into our company in 2 seconds and it costed 30 cents. There is no way to do that with fiat or Bitcoin. Michael Arrington - Arrington XRP Capital#XRPcommunity #XRP #XRPthestandard #XRPinseconds — Steven Diep (@DiepSanh) October 18, 2018 The possibility of moving money almost instantaneously at ridiculous fees makes of XRP an extremely attractive option not only for investors but the average user. Ripple’s XRP Is Good For One Thing: “Moving Money Fast and Cheap” Arrington noted that although Ripple is well-established and true to its principles, he “doesn’t understand” why there is such an aversion towards it on behalf of the community, when in fact Ripple fulfills a purpose and does it successfully: The tribalism in this industry is insane ... So, there’s Bitcoin (BTC) maximalists ... but everybody ‘agrees’ like XRP sucks, and I don’t really get it ... I mean, they [Ripple Labs Inc] are a legitimate company. They don’t pretend to be something they’re not, and they’re really good at one thing: Moving money fast and cheap. In the last few weeks, Ripple has had an important upturn in its popularity. Although some members of the crypto sphere still view with disapproval the company’s philosophy, the truth is that the XRP/Ripple community has been strengthened and has gained followers all around the world. Recently, Ripple has been in the media spotlight thanks to the launch of xRapid and the wave of institutional investments it has managed to achieve. Arrington concluded by clarifying that despite supporting the use of this cryptocurrency, his opinion is not biased by their investments: The religious wars aside, the tribalism aside, it does some things really well, and we love it for that. That being said, just because we are denominated in XRP, I am not a special pleader for XRP, I don’t work for them. The company itself is not our LP. Other people who had XRP are ... I like them, I think they’re great, but they’re like less than 5% of our asset base at this point. We do invest in XRP, but most of our investments are in other things. The post Michael Arrington Moved $50 Million USD Worth of XRP In 2 seconds Spending Just 30 Cents in Fees appeared first on Ethereum World News.

9 hours ago

IOTA Price Blazes Past $0.5 All of a Sudden

Most of the top altcoins are not doing all that great as of right now. Things may improve moving forward, as the IOTA price is slowly carving out some gains over the past few hours. There is still a long way to go to speak of an official uptrend, albeit these early signs appear to be rather promising. IOTA Price is Moving Up It is refreshing to see some positive trends forming in the world of cryptocurrencies right now. More specifically, the past week hasn’t seen too much positive momentum, albeit there hasn’t been any real setback either. For IOTA, things have remained at a near status quo for some time now. That is all coming to change, as the value surpassed $0.5 again. This uptrend is materializing courtesy of rather modest gains in the USD and BTC department. Considering how Bitcoin remains stuck in sideways trading, any momentum noted by altcoins is well worth paying attention to. Although a 2% gain is nothing to be overly excited about just yet, it is evident this current gain will put a positive spin on things regardless. Looking across social media, IOTA has been labeled as the cryptocurrency of the day by Crypto Authority. Such an unofficial vote of approval is pretty interesting, even though a lot of IOTA community members will readily agree with that statement. There are different ideas powering different cryptocurrencies, and most of them have some long-term potential. #Cryptocurrency of the Day:#IOTA - A permissionless distributed ledger - @iotatoken uses Tangle tech instead of Blockchain -This allows transactions to be fee-free a for high scalability of transactions as the more activity there is, the faster transactions are confirmed — Crypto Authority (@cryptoauthorit) October 20, 2018 In more relevant news, IOTA is apparently well underway to make its mark on Venezuela. This is a very intriguing development, as a fair few altcoins see that country as a go-to-market right now. Dash and Nano are two other contenders trying to gain a foothold in the poverty-stricken nation. A fierce battle awaits, which will yield some interesting results moving forward. #IOTA (#MIOTA) To Battle #Dash For Adoption In #Venezuela And Other Latin Countries - IOTA News via @Todays_Gazette #crypto #cryptonews #FinTech #Tech — khalsz (@khalsz2018) October 20, 2018 Ian Roberts sees a bright future ahead for IOTA and its upcoming marketplace. It is certainly true the internet-of-things offers tremendous potential, especially when combined with some AI technology making market decisions. How all of this will pan out in the real world, is very difficult to predict right now. In the future the #IOTA marketplace could have billions of dollars of transactions every hour. #AI will be buying, selling and making it's own buying/selling choices based on #qubic quorum consensus#crypto #blockchain #IoT #IIoT #Industry40 #SmartCities — Ian Roberts (@ianroberts79) October 20, 2018 Based on these current market conditions, it would appear the IOTA price trend could remain in place for some time to come. Albeit no major gains should be expected whatsoever, it is a positive sign in an otherwise boring industry. Remaining above $0.5 will be challenging for IOTA. but it might happen organically. The post IOTA Price Blazes Past $0.5 All of a Sudden appeared first on NullTX.

9 hours ago

Time Is The Only Cure For Bitcoin’s Price Volatility Issues

One of the most common (and most valid) criticisms thrown bitcoin’s way over the years has been the issue of price volatility. With price swings of 10 percent or more in a single day, how is anyone supposed to use this digital asset as a real-world currency? While a number of different theories have been discussed in terms of how bitcoin will eventually become a less volatile form of money, the reality is there is only one real solution to this problem: time. Bitcoin’s Future Price Has a Wide Range There are plenty of people who are bullish on the long-term prospect of bitcoin’s usefulness as a global, permissionless money, but the idea that the digital money will take over the entire world one day is still nothing more than a dream at this point. For this reason, bitcoin’s true value is somewhere between zero and millions of dollars per coin. With such a wide range in the long-term potential for the bitcoin price, it’s no wonder why the digital asset booms and busts with regularity. This uncertainty regarding the future of the bitcoin price is most obvious during the many price bubbles that have occurred in the digital money’s young history — with late last year being the most recent example. People are still generally uninformed when it comes to what bitcoin is and its unique place on the market, but the fear of missing out on huge profits pushes those who have no idea of what they are buying into the market during these times. More people learn about bitcoin during these price bubbles, which is helpful for further price stability over the long term because a more informed populous tends to create a more stable market. This point is best illustrated during the bear market, as that’s when those who know the most about bitcoin tend to stick around, perhaps due to their unwavering interest in the technology. Bitcoin Needs to Be Boring Bitcoin becomes boring during these market downturns, which means the hodlers of last resort and those who gain non-speculative use out of the digital asset tend to make up a greater percentage of the market. Over the long term, bitcoin needs to become a boring part of culture that people understand without all of the added hype of the potential for future riches built around it. This will happen in due time as society starts to both determine and better understand bitcoin’s role in the world. Of course, it should be noted that price volatility is not necessarily an issue for individuals who need specific features of bitcoin, such as censorship-resistant transactions or apolitical storage of value, which cannot be found with any other options on the market. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Time Is The Only Cure For Bitcoin’s Price Volatility Issues appeared first on Crypto Daily™.

9 hours ago

3 Cryptocurrencies Well-Positioned to Beat BTC Price in Q4 (AMB, BCH, ADA)

This week’s cryptocurrencies market analysis will concentrate on technological advancements in the blockchain space in quarter 4. The analysis will focus on major technological upgrades occurring in quarter four along with Ambrosus (AMB) being a top contender to produce returns well in excess of 100% in the immediate short term. 3 Cryptocurrencies We Predicted Would Rally Last Week’s Piece, which highlighted the cryptocurrency GOChain 00, resulted in GO increasing more than 50% in value in the 48 hours that followed. This is similar to TRIG, VIBE, and EVX, which all had rallies in excess of 50-250% following analyzing their short-term developments. It may be a ‘bear’ market but clearly, but it is showing bullish signs and AMB is likely to be next. Each cryptocurrency on this list has its own specific reasons from unique conferences to increasing their coin’s utility for their bullish short-term tendencies. This week will focus on AMB, BCH, and ADA, with AMB likely to lead the charge as a cryptocurrency likely to gain in excess of 50% in the short-term. Ambrosus (AMB) This week AMB 00 is highlighted as likely to have major bullish tendencies in the short term as they release their upgraded Mainnet 2.0. AMB developers are clearly remaining committed to their project even amid the bear market. Currently, AMB’s market cap is barely over $20 million. In other words, if it approaches a $100 million market cap, the value of the underlying AMB increases 500% (5x). With multiple other cryptocurrencies having mainnet updates in the prior months there can be a common occurrence gleamed from watching the cryptos price movements in the days leading up to launch. The coins have a tendency to trend North in anticipation of mainnet release. As more individuals check the crypto calendar and see ‘news’ they start FOMOing and rush in. The goal is to beat those FOMOing individuals into the alts with upcoming major developments. This week’s piece does not focus on conference developments, or utility developments, but instead on tech developments. AMB with their Mainnet Version 2.0 being released before the end of quarter four should provide an unexpected surprise announcement (that you’d have to go all the way to December on the crypto calendar to view or be following the project to know). These types of tech upgrades, especially with exact dates unannounced provide a major opportunity for bullish price movement. AMB has their Mainnet 2.0 being released this quarter but also has developments occurring behind the scenes and major partnerships in the works. A market capitalization of only 20 million, coupled with tech advancements, partnerships, and listings on the biggest exchanges, is why AMB is an attractive acquisition target. Individuals familiar with AMB’s team have mentioned numerous times how partnerships are planning on being announced by the EOY in either the pharmaceutical supply chain or food supply chain monitoring. AMB is also onboarding many of their core community for internal product testing and development. Major developments are happening within AMB and quarter 4 coupled with Mainnet 2.0 should push AMB even higher. AMB is a blockchain-powered IoT network, enabling secure and frictionless dialogue between sensors, distributed ledgers, and data to assure product quality. This niche (supply chain monitoring) is one where blockchain will continue to exploit as their transparent nature, ability to track frictionlessly and provide live updates will revolutionize the supply chain and IoT technologies. With quarter four’s Mainnet Version 2.0 on the horizon it is likely we see a major Northern price trend produced due to upcoming tech advances and partnerships. Q4 price target prediction: $ 0.60-$0.72 in the short term, approximately 6,000 Sats. Bitcoin Cash (BCH) Bitcoin Cash (BCH) 00 has had a rough summer and the upcoming Bitmain IPO, which was supposed to boost BCH’s price, but has suffered due to swirling rumors about false claims of investors and quarterly sales numbers. However, when the market is ‘doubting’ a coin this is the time to believe in it. “Be fearful when others are greedy, be greedy when others are fearful,” said Warren Buffet. Right now the market is fearful regarding BCH, which is why it is time to be greedy. Regarding BCH’s quarter 4 and technological advancements they have an upcoming hard fork and are participating in Amsterdam’s DevCon October 27, 2018. This hard fork has investors both worried and curious. The worry and fearfulness are overpowering the curiosity resulting in BCH falling more than 50% against BTC since the beginning of summer. The Bitcoin Cash fork is occurring because two of the biggest mining groups (by hash power) have split thoughts on the future of BCH. One group wishes to introduce atomic swaps intending to make BCH the most scalable, extensive, and utilizable blockchain, while slowly moving BCH away from a currency used like ‘cash.’ The other group wants BCH to rem

11 hours ago

OKEX Tim Byun Talks about ETFs, Regulations, The $460M liquidation, Star Xu Rumors and More

OKEX is a world leading digital asset exchange based in Malta. The company provides hundreds of token trading pairs as well as derivatives, serves millions of users in over 100 countries, and handles nearly $1.5B of daily trading volume. We had to chance to interview Tim Byun, OKEX’s Chief Risk Officer. We discussed what got Tim interested in Bitcoin, the companies’ recent relocation from Belize to Malta, and why Tim believes, from features and regulatory standpoint, OKEX stands out from other exchanges. In the interview, Tim talks about his unique role in OKEX, how he heard about Bitcoin the first time, the $460 million controversy that made Star Xu, OKEX founder, put his own money and lastly - talks about the rumors about Xu’s arrest (scroll down to see if it was true or false). How would you describe your role as the CRO of OKEX? What are your primary responsibilities? As the Chief Risk Officer and head of government relations for OKEX, My primary role is to ensure that we are abiding by rules and regulations. For OKEX, which is our token-to-token only platform, it’s exciting because different countries have different rules for token-to-token only platforms. This is separate and distinct from our other business line which is called OKCoin and is a FIAT to token platform. As OKEX’s CRO, I have the great opportunity to come to Malta to meet with the legislature, regulators, politicians and the Prime Minister, to hear their vision of the rules. Hey guys, I want to tell you about Bitcoin: and everybody laughed What initially got you interested in cryptocurrencies and the trading investing side of the market? At first, I was very reluctant and hesitant. Back in 2013 to early 2014, I was the Anti Money Laundering Officer (AML) at Visa. I was living with a friend of mine in Silicon Valley, and he said; “Hey guys, I want to tell you about Tim Byun Bitcoin,” and everybody laughed. I said, “Why would you be interested in Bitcoin?” As the AML officer of Visa, I heard all the sad stories about it, such as the Dark web and Mt. Gox. I said, “Why are you wasting your time?” to which he responded, “Tim, with your Federal Reserve payment system background and your background in Visa, you need to learn the technology.” So, one night he sent me one Bitcoin, and that one Bitcoin came immediately from his phone straight to my phone, and I said, “Wow, this is an amazing technology,” because back then, even if we were both using Bank of America, it wouldn’t happen on Saturday. It would happen on Monday when the banks open, and the server’s kick in and reconcile. Where was the server? Who reconciled this? Who told my friend he no longer has one? Who said to me that I have one Bitcoin? That is the power of Bitcoin that makes it so fascinating. So, that’s when I decided to study and learn about the technology. One thing led to the other; I connected with the guys at Bitpay where were very smart and innovated. Then I ended up joining the company in June 2014. What benefits do you see being brought to the crypto space by providing margin and leverage trading? Do you see any possible downsides? It’s a high-powered product, right? So that’s all it is. Leverage, margin, it just makes them more powerful and faster, but as you’ve already hinted, it could work against you. You bet long, but the market turns around and goes short, you’re out faster. So, you make money faster; you lose money faster, that’s all it is. Whether it’s in the stock market, same thing, same question for Merrill Lynch and Schwab, but margins, leverage, it just makes it a little more powerful, but you have to be aware of what you can and cannot do. For those who are still unclear about the controversy that happened in August regarding the $460 million liquidity position, would you explain what happened and how the socialized loss risk management mechanism was put in place to resolve the issue? Absolutely, and we have, but just a quick recap: A customer of OKEx managed to accumulate a huge long position on BTC quarterly contracts. The position worth over $400Mil was force-liquidated due to unfavored market direction. And due to its sheer size of the order, the order cannot be filled by the market and the said uncovered position (about $9m) triggered OKEx’s societal loss risk management mechanism. Futures is a zero-game game: whoever loss means its counterparties are making an equal amount of profit. So in such case, the losing side was unable to fulfill its obligation to deliver the deemed ‘profit’ to the winning side due to a shortfall on margin. OKEx would then step in and take a portion of profit - in equal percentage - from winning trader to cover shortfall between the liquidated price and settled price. We called this arrangement as a clawback. This system, which has been in place since OKEx was founded, is one of core risk management component of OKEx Futures to handle the systematic risk of the market. And due to its transparent nature, clients of OKEx d

11 hours ago

Alleged Bitcoin Ponzi Firm and CEO Ordered to Pay $2.5 Million in Penalties by Federal Court

In a press release by the US Commodities Futures and Trading Commission (CFTC) on Oct. 18, the agency confirmed that Gelfman Blueprint Inc. (GBI) and its CEO, Nicholas Gelfman, had been ordered to pay more than $2.5 million in civil monetary penalties and restitution by a New York federal court. This judgment came in relation to a civil enforcement action filed by the CFTC on Sept. 21, 2017. The action charged both GBI and Gelfman with “fraud, misappropriation, and issuing false account statements in connection with solicited investments in Bitcoin, a virtual currency.” In layman’s terms, the complaint alleges that the company was a classic “Bitcoin Ponzi scheme.” According to the complaint, GBI purported to be a Bitcoin-denominated hedge fund built on a high-frequency trading algorithm. The company apparently claimed that said algorithm, nicknamed “Jigsaw,” could earn its customers a 7% to 9% monthly return on their Bitcoin investments. The complaint goes on to allege that for a period of two years beginning Jan. 2014, GBI and Gelfman solicited over $600,000 from about 80 individuals to be put into a trading pool for the aforementioned algorithm to manage. Concealment and Misrepresentation of Trading Losses Of course, since there is no algorithm in the world that can generate guaranteed returns, especially not ones of 7% to 9% monthly (which translates to annual returns of 84% to 108%), GBI had to make it appear that trading profits were being generated to keep the Ponzi scheme going. As in all Ponzi schemes, new investor funds were used to pay out returns to older investors. As per the complaint, GBI and Gelfman created false performance reports showing positive Bitcoin trading gains when in fact the trading account managed by the algorithm showed only infrequent and unprofitable trades. In a daring final maneuver, Gelfman is said to have staged a fake computer hack to further conceal such losses and misappropriation. The judgment calls for Gelfman and GBI to pay about $1 million in restitution to customers and about $2 million in civil monetary penalties, in addition to permanent trading and registration bans on both parties. However, as in many cases, the penalties and restitution imposed may exceed the capability of the defendants to pay, meaning that customers are unlikely to get all their funds back. A Classic Scam With a New Look While Bitcoins and cryptocurrencies may be new, there is nothing new about Ponzi schemes. Some claim that the first Ponzi scheme goes back as far as 1860, even before it was called a Ponzi scheme, named after Charles Ponzi in 1920. The assets being invested by the scheme may change; it can be fiat money, Bitcoin, or even postage stamps (which was what Charles Ponzi used), but the structure remains largely unchanged. Given the mostly unregulated nature of cryptocurrencies, the onus is on the individual to conduct proper due diligence into such schemes. But as the old saying goes, if it seems too good to be true, it probably is. Alleged Bitcoin Ponzi Firm and CEO Ordered to Pay $2.5 Million in Penalties by Federal Court was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

14 hours ago

Huobi Launching Universal Stablecoin HUSD

Huobi, one of the top 3 crypto exchanges in the world with hundreds of millions of USD trading volume per day has announced the launch of a universal stablecoin called HUSD. HUSD can be interchanged with the Gemini Dollar (GUSD), USD Coin (USDC) which is managed by Circle, True USD (TUSD), and Paxos Standard (PAX). The official launch date for HUSD is scheduled for 22 of October 2018. The goal of HUSD is to eliminate the need to choose between different stablecoins and to save costs when switching between stablecoins. Further, the aggregation of 4 stablecoins into 1 stablecoin will increase liquidity in the HUSD trading pair, versus having liquidity spread out between trading pairs for the 4 stablecoins. Increased liquidity generally leads to better deals when trading. Tether (USDT) has experienced volatility recently, dropping as low as USD 0.925 for a brief amount of time, an unideal situation for any stablecoin. Since then USDT has risen close to USD 0.985 and is getting closer to parity each passing day, as of this writing on 20 October 2018. The loss of parity with the USD, even if it is only temporary, prompted Huobi to list GUSD, USDC, PAX, and TUSD so traders would have an alternative to USDT. Deposits for these stablecoins began on 19 October. HUSD will be completely interchangeable with GUSD, USDC, PAX, and TUSD, meaning when a customer decides to withdraw HUSD they can withdraw any of these 4 stablecoins. Therefore, it will cost nothing to trade between the 4 stablecoins that comprise HUSD. A USDT/HUSD trading pair will be launched on 22 October, allowing customers to move coins back and forth between Tether and the other 4 stablecoins. However, the withdrawal service for HUSD won’t be available for 1-2 weeks, and likewise, the BTC/HUSD and ETH/HUSD trading pairs will be launched later at an unspecified time. Huobi says they are looking forward to adding more stablecoins in the future, but for now, will test HUSD with these 4 stablecoins to determine the stability of the new system. If any stablecoin does not meet risk control standards it will be removed. Follow on Twitter: @BitcoinNewsCom Telegram Alerts from Want to advertise or get published on - View our Media Kit PDF here. Image Courtesy: Pixabay The post Huobi Launching Universal Stablecoin HUSD appeared first on

16 hours ago

Factom Seems Keen to Enter the Stablecoin Market

It is safe to say the cryptocurrency industry has seen its fair share of stablecoins already. This market is open to competitors, although nearly 10 different offerings exist already. Even so, the Factom team is confident they can add at least one more competitor to the mix. Their unique stablecoin implementation will be presented later this month. Factom has Bold Plans Every venture pertaining to blockchain and cryptocurrency is worth paying attention to these days. Although things may be a bit different in the world of stablecoins, the new venture by Factom will still get quite a bit of attention. The team claims they have built a new implementation which might help shape the future of stablecoins altogether. Not too much is known about Factom’s exact plans. The team alluded to such a project in a recent blog post, although no real specifications were provided at this time. Instead, they only touch upon what makes stablecoins so peculiar, and why there is a need for more competition in this department. It is certainly true that more of these coins can bring more people to cryptocurrency over the years. In the normal world, a stablecoin is pegged to a physical asset. This can be fiat currency, as well as precious metals, natural resources, and so forth. To date, most stablecoins in the cryptocurrency world have been tied to the US Dollar. The only notable exception in this regard is Venezuela’s Petro, though that currency faces a lot of backlash for entirely different reasons. The lack of transparency associated with that venture is one of the key concerns right now. Based on the current modeling and research conducted by Factom, the team is confident their approach can be successful. However, no one should expect Factom-based stablecoin to come to market in the near future. Additional research and testing are needed prior to effectively commercializing such a technology. An initial demonstration of the concept will be presented during the Texas Bitcoin Conference in late October. The bigger question is what Factom will try to achieve exactly. With major companies such as Gemini and Circle issuing their own dollar-pegged currencies as of late, the stablecoin market seems to be on the brink of oversaturation. Factom’s venture will primarily focus on on-chain auditability, which is something most other projects and offerings do not provide at this time. Some positive competition in this regard can be quite beneficial to everyone. For the time being, it remains to be seen how the cryptocurrency community will respond to this new offering. While one can understand any company wants to get in on the stablecoin action right now, it is not a market which requires an abundance of competition either. Cryptocurrency needs more fiat currency onramps, rather than adding more intermediaries to the ecosystem. It will be interesting to see what Factom plans to do exactly, as this announcement leaves a lot of room for speculation. The post Factom Seems Keen to Enter the Stablecoin Market appeared first on NullTX.

a day ago

Crypto Platform Huobi Launches ‘All-In-One’ Stablecoin Amid Tether Fears

Huobi Launches “All-In-One Program” In the midst of the Tether/Bitfinex debacle, Huobi, a world-renowned crypto platform, has unexpectedly made a move to revolutionize how stablecoins — crypto assets tied to the value of a relatively stable asset — work in this emerging market. On Friday morning, the crypto platform, which is headquartered in Singapore, released an announcement titled “Announcement on the Launch of HUSD solution on Huobi Global” on its official ZenDesk page. According to the post, HUSD, as this “all-in-one” solution has been dubbed” will be Huobi’s very own cryptocurrency that is tied to every popular stablecoin (except for Tether/USDT that is). So how does it work? Well, when you deposit Paxos Standard (PAX), True USD (TUSD), USD Coin (USDC), or Gemini Dollars (GUSD) onto Huobi, you will be credited with the equivalent amount of HUSD at a 1:1 ratio. Then, you can use HUSD at Huobi’s platforms like a traditional stablecoin. Last but not least, depending on what you may prefer, you can assign your HUSD to four individual withdrawal options — the aforementioned stablecoin projects. Although HUSD is limited to PAX, TUSD, USDC, and GUSD at the time of writing, Huobi explained that it is open to adding more stablecoins to the “all-in-one” solution if it meets certain standards and protocols set in place by the exchange. Deposits for this program start today, with trading for the BTC/HUSD and ETH/HUSD pairs being slated to launch after an evaluation of the four aforementioned stablecoins’ market conditions. It is important to note that withdrawals for the HUSD program won’t be open right away, likely due to liquidity concerns, so traders will need to be content with holding their stablecoins on the platform for the time being. Obviously, due to the unique qualities of HUSD, many users had questions, prompting the startup to post a follow-up article regarding its venture into the tumultuous (ironically enough) stablecoin subindustry. Find out more about Huobi's new and unique stablecoin solution, the $HUSD. @TrustToken @GeminiTrust @Circlepay #HuobiGlobal #StableCoin — Huobi Global (@HuobiGlobal) October 19, 2018 The pertinent question that many had on their minds was — what makes HUSD better than traditional stablecoins? As explained in the image below, HUSD will reportedly be “safer and more convenient,” as by holding the Huobi-backed asset you aren’t trusting a single stablecoin issuer no longer. Along with being safer, HUSD will reportedly be more stable, as the coin itself is based on four different crypto assets, not just one. Lastly, HUSD allows consumers to convert from stablecoin-to-stablecoin at no cost, which may be a welcome cost-cutting technique for more frugal traders. Although many lauded the exchange for implementing the solution, Huobi hasn’t convinced everyone. Bitfinex’ed, a well-read cryptocurrency critic, pointed out that while HUSD may be a valiant effort to solve this industry’s current stablecoin qualms, the exchange should’ve implemented a different system to uphold the transparency of its business. A better idea for Huobi would be, if you deposit a stablecoin, they actually redeem the stablecoin and store the USD on their exchange in their own bona-fide bank account with USD (which they should have...) It would ensure the stablecoins are kept honest. — Bitfinex'ed (@Bitfinexed) October 19, 2018 Tether (USDT) Fears Likely Catalyzed The Creation Of HUSD As alluded to earlier, Huobi’s move to launch a stablecoin program was likely catalyzed by the fears surrounding the Tether (USDT) project. As reported by Ethereum World News on multiple occasions, the stablecoin project has become quite the topic of controversy, as many have claimed that the Tether Foundation doesn’t have the U.S. dollar reserves to back all USDT in circulation. Mike Novogratz, the CEO of Galaxy Digital, actually called out Tether, claiming that the lack of transparency with the stablecoin’s creators have ostensibly made investors lose trust in the crypto asset. Base Image Courtesy of John Schnobrich on Unsplash The post Crypto Platform Huobi Launches ‘All-In-One’ Stablecoin Amid Tether Fears appeared first on Ethereum World News.

a day ago

CEO of Sberbank: Crypto and Blockchain Will Change the World but Not Yet

The CEO of the Russian state-owned financial service provider Sberbank has stated that cryptocurrency and blockchain technology will fundamentally transform business and finance. That said, Herman Gref is looking at a time span of decades rather than months or years. Herman Gref with Refreshing Take on Cryptocurrency According to a report in local news, the CEO of Sberbank thinks that cryptocurrencies and blockchain technology have the power to radically transform society. Gref was speaking about the financial innovations at fintech conference, the Finopolis Forum, yesterday. The event is being held by the Bank of Russia in Sochi. It ran from Wednesday to Friday of this week. However, the changes Gref envisions are not to be expected soon. The banker went on to state that digital currencies would take at least 10 years to become widespread enough to challenge the current status quo. Gref holds that national governments will try to desperately cling on to existing financial services for as long as possible: “... it’s not likely that any state is ready to part with the centralised money supply model.” The state-owned bank executive is more optimistic about blockchain technology. He feels that the true implications of distributed ledgers will make themselves known in around three to five years: “The technology is not ready now. When will it be ready? In my opinion, three to five years. If you ask me in five years, maybe I can say something more distinct about its place, but the potential is huge.” Gref also stated that the hype-stifling bear market of 2018 has allowed for a “balanced consideration and evaluation of this technology.” The experiments that are ongoing in the space will lay the groundwork for the sweeping changes envisioned. Finally, Gref addressed regulations. To him, any outright bans on cryptocurrencies risk stifling the innovative potential of the space. The technology needs to “quietly develop” and can do so better now that much of the speculation has died down. Although perhaps not what everyone wants to hear in terms of time frame, Gref’s outlook on cryptocurrencies seems refreshingly grounded. It stands as contrast to the outbursts of other individuals connected with the traditional financial industry. Suspiciously absent were any comments relating to fraud, tulips, rat poison, or money laundering. Gref’s commentary on the space is consistent with Sberbank’s own experimentation with blockchain. The state-owned financial service provider has been working on systems that use the technology to increase the efficiency of the services it provides. Featured image from Shutterstock. The post CEO of Sberbank: Crypto and Blockchain Will Change the World but Not Yet appeared first on NewsBTC.

a day ago

Does freedom of religion protect Americans who have a religious duty to shelter migrants?

Scott Warren is a Unitarian Universalist, active in a faith-based Arizona humanitarian aid group called No More Deaths. His religion compels him to help people in need, he argues—and that includes helping migrants who cross the US-Mexico border into Arizona, and make their way to “The Barn,” a private building in the desert that serves as a base camp for the aid group, where Warren was arrested in January for illegally “harboring illegal aliens.” Warren is charged with two counts of felony harboring and one count of felony conspiracy after he helped two men who sought refuge in the Barn. The federal complaint against him states, “After finding their way to ‘the Barn,’ Warren met [the men] outside and gave them food and water for approximately three days. [One of the migrants] said that Warren took care of them in ‘the Barn’ by giving them food, water, beds and clean clothes.” No More Deaths volunteers have, for the last thirteen years, been leaving food and water in the desert for migrants who arrive there from Mexico. The organization contends that “humanitarian aid is never a crime.” For a time, Border Patrol agents left the group’s activists unmolested. But with the escalating crackdown on illegal immigration prompted by the Trump administration, however, agents are destroying life-saving supplies left by the group in the deadly desert. The Barn is being raided, and activists are increasingly targeted and arrested. “The targeting of our work is part of a larger governmental push to punish and abuse migrants and those who stand in solidarity with them,” No More Deaths writes on its website. Warren argues that his faith dictates that he must assist migrants in need. One of his legal defenses is based on the Religious Freedom Restoration Act (RFRA),which protects people with sincerely held religious beliefs, stating that the “Government shall not substantially burden a person’s exercise of religion even if the burden results from a rule of general applicability.” In other words, there are exceptions to the laws, when that law violates the moral code and religious convictions of a person with true faith. In July, attorney general Jeff Sections called religion the “first freedom” in a July speech. US president Donald Trump and his Supreme Court picks have also championed the law’s protections for the faithful. Most notably, Neil Gorsuch in his controversial concurrence in the 2013 case Hobby Lobby v. Sebelius, found that the chain of crafts stores could deny employees health benefits associated with contraception despite a legal mandate to offer those benefits, because it offended the chain owners’ Christian faith. “All of us must answer for ourselves whether and to what degree we are willing to be involved in the wrongdoing of others,” Gorsuch wrote. Gorsuch pointed out that though some may even find certain beliefs offensive, if they are sincerely held and based on faith, the RFRA applies. The Act doesn’t just apply to protect popular religious beliefs, the judge noted. “It does perhaps its most important work in protecting unpopular religious beliefs, vindicating this nation’s long-held aspiration to serve as a refuge of religious tolerance,” he wrote. But just how far does the Trump administration’s protection of the Christian faithful really go? Critics contend that the administration has a double standard for religious freedom. “There’s a public face of this government, which is very protective of religious liberty, and then the real work they’re doing is only protecting the religious liberty rights of those who are religious conservatives, not of religious progressives,” Katherine Franke, director of the Public Rights/Private Conscience Project at Columbia Law School, tells KQED. Franke and other law professors filed an amicus brief on behalf of Warren, explaining to the Arizona districts court how the statute applies to his case. Similarly, Daniel Mach, director of the ACLU’s program on freedom of religion and belief, tells KQED that the Trump administration’s application of the RFRA is “selective and distorted,” ultimately only benefitting those who agree with the administration’s positions and not truly protective of the faithful. “It supports an unfounded, unprecedented religious license to discriminate; and at the same, the administration is indifferent or outright hostile to faiths and religious individuals with which it disagrees.” At a court hearing in May on Warren’s motion to dismiss the government’s case based on the RFRA, he spoke about his religious beliefs. Warren said his faith dictates that he assist anyone in need and that he treat others as he would wish to be treated himself. The Department of Justice countered that the law doesn’t burden Warren’s faith, claiming that the migrants he assisted weren’t really in distress. The DOJ also argues that his faith doesn’t require that he aid people evading law enforcement. The judge denied Warren’s motion to dismiss the charges. But the relig

a day ago

Five examples of real-world uses for smart contracts

As blockchain continues to evolve, smart contracts built to expand the concept of a simple decentralized database into a fully usable decentralized application seem to be popping up everywhere. We’ve talked about the Ethereum “killers” and how nearly every third-generation blockchain now includes the ability to run decentralized software powered by smart contracts, but is there really a difference between the smart contract chains? There are advantages, certainly, and disadvantages to the various platforms, but will it make a difference for real-world use cases when selecting one chain over another to build a dApp? The truth is that blockchain dApp technology is still at an infant stage, and there has been very slow progress when it comes to figuring out where this technology can be used to solve real-world problems. Striking out today to build a blockchain dApp is fraught with challenges, and the downfalls are ever-present from financial risks as well as developing with new and untested technology. On the other hand, the opportunity of long-term reward is there if you manage to solve a problem in a unique way or become the “Google of blockchain” in the process. Let’s take a look at some examples where smart contract platforms are actually being used right now to support products and services that rely exclusively on this technology. 1. Sub-Tokens & ICOs The vast majority of blockchain ICOs which happened over the past 24 months were released as sub-tokens using the ERC-20 standard on the Ethereum network. Hands-down, Ethereum is currently the king of sub-tokens and no other chain comes close. Part of that is due to Ethereum’s first-mover advantage since no other smart contract was actually functioning at a production-worthy level in 2017 to support the explosive growth of this new industry. The ERC-20 standard is simply a standardized smart contract on the Ethereum network which allows an individual user on the network to generate a sub-token and send it to another user. All of the functionality of the sub-token is controlled by Ethereum’s smart contract system, called the Ethereum Virtual Machine. Most dApps built on Ethereum will create their own tokens to use within their applications, a function which is controlled, managed and secured by smart contracts. At the present time, there are over 128,000 ERC-20 sub-token contracts in existence on the Ethereum blockchain, account for 80 percent of all dApps. This is a testament to the popularity of the platform and speaks to the innovation found in Ethereum since 2015. As a side note, Vitalik Buterin, creator of Ethereum and coiner of the term “smart contract,” now says he hates the name and wishes he would have picked something less flashy. However, the name seems to have stuck and nearly every Ethereum competitor has adopted the “smart contract” label as well. 2. Asset Digitization The concept of “digitizing assets” has become a new buzzword around blockchains. The question is how can you use blockchain to track ownership of a physical asset, such as gold or silver, and record changes of ownership in a decentralized way? NEO is a fairly new smart contract blockchain with goals that differ somewhat from Ethereum. The NEO objective is the “Smart Economy,” which is made up of digital assets, digital identity, and smart contracts. Unlike Ethereum, which aims to be the “world computer,” NEO is working toward a platform that allows for entities to trade goods and services, in a digitized form, with the security of a digital identity layer to provide enforceable trading rules. Each asset, such as physical gold, for example, would have a corresponding entry on the blockchain so ownership can be tracked and recorded. The record of these assets remains decentralized and available to all stakeholders at all times. Individuals and institutions, private and government alike, could trade securely in this trustless environment across borders and around the globe with a system powered by smart contracts on the NEO blockchain. Asset trades occur within the rules of the defined contract and happen instantly in NEO’s vision of the “Smart Economy.” 3. Personal Finance The world of finance and blockchain would seem to go hand in hand and, eventually, that day will come. The Tezos blockchain, which recently launched in September 2018, has some promising dApps which aim to break down the barrier between traditional financial products and blockchain technology. Part of the attraction to Tezos for high-value financial dApps is the inherent formal verification which, once fully implemented, will greatly reduce or eliminate the possibility of coding bugs or human error within smart contracts. TezSure, a dApp in the early development stages on Tezos, aims to simplify insurance on the blockchain. According to the TezSure founding statement, traditional insurance lacks transparency, takes far too long to process claims, and costs a fortune in overhead to administer. T

a day ago scammers and incompetence has recently raised a significant amount of controversy and potential unethicality surrounding their broken platform and recent institutional pump. Well, today I am examining their community, which seems to be fraught with the foul stench of scammers. These scammers pose as official support or staff, pretending to offer assistance. They are obviously not part of support, though they mimic the broken English found on the official support chat. This broken English on part of the scammers is used either to increase believability and consistency, or by happenstance. I reached out for comment and was refuted by them (I guess a scammer doesn’t want to talk to the press, ha!) The YoBit scammers I have come across are your typical fraudsters, we’re dealing with fairly high-level con-artists. These scammers are people posing as official support staff and are well trained and prepared to take your bitcoin. One group even has the ability to send emails that seem to come directly from’s own official account. If you aren’t careful you too may fall victim to this scam involving users of the already misleading and unscrupulous crypto-exchange. scammer anatomy Scamming unsuspecting people is easy when the scammer has a plan. Points of a scam Scammers seem legitimate They live far away They use impressive claims to support their scam They give short deadlines Use of unusual payment vehicles They send little information after payment They can be undone by simple homework Scammers abuse trust The scammers in the YoBit community seem to use the behaviors presented in points 1, 2, 3, 4, 5 (but usual for the crypto space), 7, and 8. I never paid any of them so I can’t say for sure if 6 applies, but we can assume it does. Scammers seem legitimate scammers do seem legitimate. They use names that reflect that they are part of the company team, even going as far as using names of the support staff. They even control a very large official-looking Facebook account named with over 30k likes, which seems legitimate - but it is not. A Facebook account completely controlled by Scammers, taking advantage of the brand. Once you reach out to this page, they have you communicate with an unaffiliated email address by the domain extension “” which is not official. They then ask you to send them some arbitrary amount of bitcoin or other cryptos for support. Once the BTC is sent they are never heard from again. This specific instance was about the deactivation without warning of a coin called Capricoin (CPC). CPC has an active community, updated source code, live support, and reasonable 24hr volume. This is what you can expect to get from one of these scammers. DO NOT fall for it, they are not affiliated with and will be unable to fix your issue even after payment. A conversation within the official Twitter thread. The scammers even use the threads of the official Twitter to claim themselves as support employees. Without any in-line replies from the official handle - so it may seem reasonable that support is in their official thread. It is not, these are scammer accounts attempting to use the official YoBit handle’s thread to get new marks. Communication with a scammer posing as “Robert Reese” on Telegram. The scammer above was able to send emails to my personal address, and they looked like they came from the official email of “”! Email from that looks official but is unverified The email above looks to be legitimate with but one major key difference. The question mark icon to the left of the sender’s information. If you hover over that question mark it says “Mail couldn’t verify that actually sent this message (and is not a spammer)”. Most people would not consider checking into a communication this far unless they already suspected this to be a scam. An unverified email address. This email is “unverified” which means it was signed by another SMTP (Simple Mail Protocol Protocol) server. This means that the scammer can send emails that on the surface look like they are directly from themselves but are not. We took this information and asked support on the official ticket submission page of their site. Just asking if they knew about this, and just to make extra sure that it was an unaffiliated group. After explaining that we had received a message from their official email address support replied with “Scammers don’t pay on scammers Telegram or Twitter?”. The medium of communication was not shared, this was direct email correspondence. This shows that knows they are being used as a method for scammers to take money from unsuspecting individuals and does little to stop it. The scammers live far away This is true for the exchange location and probably for the locations of the s

a day ago

Huobi Unveils New ‘All-in-One’ Stablecoin for Stablecoins (Except Tether)

Cryptocurrency exchange Huobi announced today that it has launched its very own interchangeable stablecoin dubbed HUSD. “All-In-One Stablecoin” Huobi, which is currently the third largest cryptocurrency exchange by means of traded volume according to data from CoinMarketCap, announced the launch of its own stablecoin HUSD. Notes Livio Weng Vice President at Huobi: It’s our great pleasure to announce the launch of HUSD, an all-in-one stablecoin solution. A market first, HUSD lets you deposit or withdraw with any one of four stablecoins. Deposit PAX, for example, and withdraw USDC with no conversion fees. According to the official release, the new solution intends to “eliminate the need to choose between multiple stablecoins.” When a user deposits any kind of stabelcoin in his Huobi account, they will be displayed as HUSD. At the same time, users will be able to withdraw any kind of stablecoin as soon as the amount of the particular stablecoin is sufficient in their balances. For example, when you deposit 1 PAX, it will show as 1 HUSD in your account, and you can withdraw 1 TUSD (not considering transaction fees on the blockchain). - Reads the announcement. Supposedly, this will also help users save when they are switching between different stablecoins. Tether’s Out of the Picture According to the release, the brand new HUSD solution currently supports only four kinds of stablecoins. Notably, though, Tether (USDT) has been left out. Users will be able to exchange their HUSD for Paxos Standard (PAX), True USD (TUSD), USD Coin (USDC), and Gemini Dollars (GUSD). Despite not including Tether, Huobi will be working to involve more stablecoins in its HUSD solution: We look forward to more stablecoins being involved in the HUSD system. Concurrently, we will evaluate the existing stablecoins in the HUSD system on a real time basis, if the stablecoin doesn’t meet the corresponding risk control standard, we will remove it off from the HUSD system. What do you think of Huobi’s new stablecoin? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Huobi Unveils New ‘All-in-One’ Stablecoin for Stablecoins (Except Tether) appeared first on

a day ago

Exosis [EXO] to emerge as a rising star as one-stop solution for the cryptocurrency ecosystem

The cryptocurrency market is being overrun with projects that seem to have no utility. This was seen in great power during the last year, with scam projects reportedly making up to 88% of all Initial Coin Offerings. Even those that are not scams do not offer any real-world utility, instead relying on a token economy for their platform. However, there is one coin that has established its utility in a way that is ensured for the future. Not just that, it has a robust strategy to hold its value in a dependable and stable fashion and offers investors the opportunity to gain passive income. This is the brand-new, one-stop solution for cryptocurrency enthusiasts known as Exosis. The ecosystem is made up of 5 platforms on one network, allowing users to access a variety of features in a seamless, easy-to-use and decentralized fashion. Moreover, the platforms native coin, EXO, can be utilized across all of the services. The parts of the ecosystem include a decentralized exchange platform, a decentralized e-commerce site, an over-the-counter platform for trading, a multiplatform e-wallet and a feature for users to generate passive income known as a virtual masternode. Setting itself apart from the multiple Ethereum based tokens, the Exosis platform will function on its own Mainnet. The net will be coded in the C++ language and has a block time of 2.5 minutes with 10MB blocks and SegWit-enabled. It also utilizes SHA3 hash ratings, a much more advanced algorithm than SHA256 used by Bitcoin and other PoW blockchains. Exosis will rely on the Time Travel 10 PoW algorithm for consensus. This algorithm is ASIC resistant, and mineable using both GPU and CPU. Moreover, the mining power for the coin is low, leading to an interesting value proposition for miners. The architecture of the PoW blockchain will also rely on proof-of-authority to ensure that the master nodes and nodes are secure, and to prevent Sybil and 51 percent attacks on the platform. To go along with the security offered by the architecture of the blockchain itself, Exosis service holds itself to a high standard of security. It boasts of an A+ level of security, offering users with the transparency to check it themselves on Mozilla observatories such as X-XSS, X-Frame, CSRF, CSP, CORs HPKP, HSTS, and secure cookies. This is to ensure user trust in the platform. Virtual Masternode: A masternode is a server on a decentralized network. However, it is distinct from regular nodes as it is required to perform unique functions that are usually not possible with a node. Due to this, a masternode typically requires two things. By requirement, the node has to be run on a powerful computer that can run a complete node of the blockchain which is synced to all its transactions. Moreover, users are also required to stake a large number of coins. However, this will provide them with an opportunity to gain passive income. Exosis blockchain utilizes the masternode method to create a strong base to decentralize the network and control the supply and demand. It also requires those who wish to run a masternode to have the full version of the wallet and stake at least 10,000 EXO coins. The node also requires a constant Internet connection and power. However, Exosis has come up with an opportunity for investors by creating a system known as Virtual Masternodes. This allows users to run the masternodes and gain passive income that users can run without hardware or real-world constraints. The system will require the users to stake a small number of coins in a certain lockdown period. The charges for the period will be 10%, 7.5%, 5% and 2.5% for 1 month, 3 months, 6 months and 12 months. This effectively reduces the barrier of entry for those who want to generate passive income from their involvement in the Exosis ecosystem. The site will also have wallet support, and deposit and withdrawal options for multiple cryptocurrencies. Exchange platform: The Exosis exchange platform is created by professionals with prior experience in managing exchanges, leading them to an optimal method of operation with no pitfalls. This has led to them creating an anonymous and decentralized exchange, with strictly no involvement from the government. Staking EXO tokens in the user’s trading balance will reward them with a discounted trading fee, with price cuts of up to 50% on the fees. It will also have a speed of more than 10,000 transactions per second, to ensure maximum speed and easy usability for the end-user. The platform also utilizes a decentralized chat platform as a part of the exchange. Keeping in mind the true decentralization of the platform, there will be no censorship enforced on the chat. Instead, there is a system in place to ensure the user’s reputation, based on the vote score of the user. This is calculated through a system of upvotes and downvotes which is decided by other members of the community. Posts which are downvoted will be banned automatically. Keeping in tune with the commu

a day ago

UK Darknet Vendor has Nearly $400,000 in Cocaine Seized During Raid

Darknet activity is attracting a lot of attention these days. Although some people see this as a way to get rich quick, law enforcement agencies have a very different opinion on the matter. In the UK, City of London police officials have arrested one darknet drug vendor and confiscated near $400,000 worth of cocaine. Another Darknet Vendor Gets Arrested Despite the rise in popularity of darknet activity, there is an equal increase in the number of vendors being arrested. Those sellers who do not take the necessary precautions in terms of protecting their identity will find themselves on the receiving end of a police raid sooner or later. That is a logical evolution in this industry, as law enforcement agencies actively collaborate on a global scale to bring darknet sales to an end. One recent arrest in the United Kingdom is a key example of how things have evolved. More specifically, the City of London police has arrested one individual who is suspected of selling drugs on the darknet. Unlike what most people might assume, the sale of drugs on darknet marketplaces has not diminished in the slightest. In fact, it seems the opposite has come true over the past few years. The person being arrested is seemingly quite active on the darknet. More specifically, a raid on his home yielded quite a collection of drugs, cash, and a stun gun. Over $15,000 worth of cash was seized, as well as an undisclosed amount of cannabis and two cocaine presses. The biggest haul came in the form of nearly $400,000 worth of cocaine. It is evident such a vast amount is not for self-use in the slightest. This particular darknet vendor has been on law enforcement agencies’ radar for some time now. Any individual who enjoys a good reputation on such marketplaces and tends to move a lot of product will be scrutinized further. The two cocaine presses found at his premises also confirms his operation was seemingly in the process of scaling up even further. By actively processing cocaine to sell it later on, he also evaded attention for a relatively long time. In the United Kingdom, possession of crack or cocaine is subject to hefty prison sentences. Both drugs are class A in the country, and the associated fines do not have an upper limit either. Considering how this vendor owned nearly $400,000 worth of cocaine, his sentence will be nothing to scoff at. Add the production and shipping of this Class A drug to domestic and international clients, his future doesn’t look all that bright. This new crackdown is another notch in belt of law enforcement agencies. This is not the last arrest pertaining to darknet activity, as there are still dozens of vendors which are being investigated. Even though darknet activity is still relatively new for law enforcement and police officials alike, efforts are underway to improve the efficiency of such investigations. The post UK Darknet Vendor has Nearly $400,000 in Cocaine Seized During Raid appeared first on NullTX.

a day ago

PIVX Price Drops by 11% Following Bithumb Listing

For most altcoins, getting listed on a prominent exchange will send prices upward. In the case of PIVX, the momentum looks surprisingly different, albeit it is unclear why that is the case. Despite getting listed on Bithumb, the price has plummeted by over 12%. A very peculiar trend worth keeping an eye on. PIVX Price Trend Makes Little Sense While it is true there is an overwhelming amount of bearish pressure across all cryptocurrency markets right now, it is evident some trends make less sense than others. In the case of PIVX, its current price is a lot lower than people had anticipated. This is not a positive way to head into the weekend, albeit it remains to be seen if any improvements can materialize in the coming few days. Over the past 24 hours, the PIVX price has lost over 12% in value. There is also an 11% decline in the PIVX/BTC ratio. It is not uncommon for altcoins to lose a bit of value when Bitcoin is struggling, although such hefty declines are not warranted at this time. Especially not given the recent major exchange listing of PIVX, even though it seems that has not done the altcoin any favors so far. To put this in perspective, the PIVX altcoin has been added to Bithumb. This is still one of South Korea’s biggest cryptocurrency exchanges. Newly added coins usually get a bit of a pump when trading goes live, yet it is not happening for PVIX at this stage. In fact, its ongoing decline today has only worsened ever since Bithumb trading went live, which is rather unusual. $PIVX trading has begun at 10/18 18:30 KST on Bithumb exchange! Here's a quick video starring @BryanDoreian of this exciting new addition. @BithumbOfficial @Bithumb_Korea #dyk #pivxpress #PIVX — PIVX (@_pivx) October 19, 2018 Some community members see this addition to Bithumb as a validation of how PIVX is a potentially valuable privacy-oriented currency. Claiming it is better than any other privacy coin on the market might be a bit of a stretch, although one can easily understand where this sentiment is coming from. PIVX certainly has its merits, but no currency is perfect by any means. FINALLY I can't believe people haven't noticed the improvements that #pivx made. It beats any other privacy coin out there !!! #privacy #cryptocurrency — The Crypto Hog (@MehHog) October 18, 2018 It is quite interesting to note how this PIVX price downtrend occurred just a few hours after people got excited over its recent 7% spike. Trading momentum can turn around very quickly in the cryptocurrency world, and this particular altcoin is going through such a round at this stage. It is possible things will turn around, but so many currencies are down right now. Bucking the trend is pretty difficult given the current circumstances. State of the Top #Cryptocurrencies - last 24h 13% up average: 2.56% median : 1.59% volume : $2.71 b most: #PIVX $PIVX 7.44% 87% down average: -2.88% median : -2.55% volume : $7.88 b most: #RChain $RHOC -9.19% — Crypto Gulp (@CryptoGulp) October 18, 2018 With the weekend around the corner, it will become all the more difficult for altcoins to note any real gains. A listing on Bithumb can usually have a positive short-term effect on any altcoin, and PVIX might not even be an exception in this regard. At the same time, the overall crypto trading volume looks abysmal, and it seems no real improvements should be expected in this regard. A worrisome outlook, although cryptocurrencies remain unpredictable first and foremost. The post PIVX Price Drops by 11% Following Bithumb Listing appeared first on NullTX.

a day ago

There may be penalties for cannabis users visiting the US from Canada

Marijuana is now legal across Canada. But anyone with a taste for—or an investment in—weed may want to think twice before heading south of the border. “The use, possession, distribution and production of marijuana remain illegal under US federal law and could have US immigration consequences for foreign nationals,” the immigration law firm Fragomen warns Canadians and other foreign nationals visiting the US from Canada. For recreational users who may have sampled Canadian cannabis, that might mean being turned away at the border, being denied a visa (or an ESTA visa waiver), or even being banned from the country for good—even if what they were doing was entirely legal at the time. How could US officials possibly know? And what if you didn’t tell them? If Customs and Border Protection officers believe you to be an “addict” or “abuser,” they may deny you entry—especially if you’re found to have marijuana on your person. Moreover, if you’re asked about your cannabis consumption and are found to be lying, you’ll be committing immigration fraud, possibly jeopardizing your ability to come to the US for good. (There may be some wriggle room for “specific circumstances,” such as medical conditions.) It’s not entirely clear how the laws will affect people working in the cannabis industry, though some anecdotal reports suggest people have already been deemed “inadmissible” at the border. A recent statement from the US Department of Homeland Security laid out its policy: “A Canadian citizen working in or facilitating the proliferation of the legal marijuana industry in Canada, coming to the US for reasons unrelated to the marijuana industry will generally be admissible to the US.” So if it’s just a vacation, you’re fine—though the same may not be true for those on a trip-related business trip.

a day ago

Tesla shrunk the battery to start selling its promised $35,000 Model 3 (kinda)

Tesla is finally producing a $35,000 Model 3—if you include a $7,500 federal tax incentive and state rebates in California. If you’re calculating the true cost of ownership including gas savings, Tesla calculates, the final price is closer to $31,000. But the sticker price? That’s still $45,000. You’ll have to wait until 2019 for the $35,000 one. Just released lower cost, mid-range Tesla Model 3 & super simple new order page — Elon Musk (@elonmusk) October 18, 2018 The new math, and lower price, will no doubt please those on Tesla’s waitlist for the last two years as the carmaker ramps up production of the Model 3. Most of the cars sold to date have been priced around $60,000 as the company seeks to turn a profit this year. While the Oct. 18 announcement isn’t the $35,000 base price Musk promised, the new car is a good deal cheaper—mostly because of a smaller battery. An electric car’s lithium-ion battery cells are the most expensive part of the vehicle. Musk said the new battery with 260-mile range, rather than 310 miles for standard batteries, has a “disproportionate” amount of empty space. Musk said that allowed Tesla to start selling a cheaper Model 3 now rather than waiting until February. Orders are expected to arrive in six to eight weeks. The electric carmaker’s fortunes are riding on the Model 3. After selling the successful Model S luxury sedan and Model X SUV, Tesla has sought to join the ranks of the world’s major carmakers selling millions of cars per year. Its first attempt to produce a car in such large numbers has not gone smoothly. Dysfunctional assembly lines, early quality control issues and a lack of manufacturing capacity turned Tesla’s growing pains into existential threats. After switching on its newest assembly line (flown in at great expense from Germany), its production capacity has steadily increased. It produced a record 53,239 Model 3s last quarter, and 80,142 vehicles overall, about 50% more than its previous high set the prior quarter, according to the company Automobile experts who have disassembled the Model 3 have come away impressed. Auto manufacturing analyst Sandy Munro said Tesla’s new car contains some of the most advanced technology in any automobile. The motor’s unique design means it may cost 10% less than competitors, and its battery and electric systems, in particular, are ahead of its rivals. Tesla managed to cram 50% more energy into battery packs that are 20% smaller. But its manufacturing processes? Not so much. The new assembly line at Tesla’s factory in Fremont, housed under a semi-permanent tent, is an awkward marriage of automation and manpower. Certain components are complex arrangements of welds, rivets and metal pieces rather than simpler, more affordable designs. Munro argued elements of the chassis are heavy and over-engineered. But he heaped praise on the car, saying Tesla could achieve margins of 29% based on the materials (before counting research, labor, and logistics), but it needs to streamline its manufacturing. “If that car was made anywhere else, and Elon wasn’t part of the manufacturing process, they would make a lot of money,” Munro told Bloomberg. “They’re just learning all the old mistakes everyone else made years ago.”

a day ago

Huobi Launches HUSD Solution to Better Manage Stablecoins

Huobi Global plans to launch an “all-in-one program” for managing stablecoins. The “HUSD” program will function as an “integrated solution” which will eliminate the need to choose between multiple stablecoins and “save costs when switching between stablecoins.” Huobi exchange users will see HUSD displayed in their accounts and withdrawals can be made in any stablecoin that the user might prefer. The system currently offers support for Paxos Standard (PAX), True USD (TUSD), USD Coin (USDC) and Gemini Dollars (GUSD). (RS)

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Are Mastercard and VISA Cutting Out Unregulated Crypto Brokers and ICOs?

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2 days ago

A Cypherpunk’s Manifesto Calls for an Anonymous Transaction System 16 Years Before the Launch of Bitcoin

The Cypherpunk movement, founded by Eric Hughes, Timothy C. May, and John Gilmore in 1992, ended up playing a crucial role in the origin and development of Bitcoin. A Cypherpunk’s Manifesto written by Eric Hughes in 1993, 16 years before the launch of Bitcoin, calls for an anonymous transaction system. Specifically, within the manifesto, it says: “Since we desire privacy, we must ensure that each party to a transaction have knowledge only of that which is directly necessary for that transaction. Since any information can be spoken of, we must ensure that we reveal as little as possible. Privacy in an open society requires anonymous transaction systems. Until now, cash has been such primary system. An anonymous transaction system is not a secret transaction system. An anonymous system empowers individuals to reveal their identity when desired and only when desired; this is the essence of privacy. Privacy in an open society also requires cryptography. If I say something, I want it heard only by those for whom I intend it. If the content of my speech is available to the world, I have no privacy. To encrypt is to indicate the desire for privacy, and to encrypt with weak cryptography is to indicate not too much desire for privacy. Furthermore, to reveal one’s identity with assurance when the default is anonymity requires the cryptographic signature. We must defend our own privacy if we expect to have any. We must come together and create systems which allow anonymous transactions to take place. People have been defending their own privacy for centuries with whispers, darkness, envelopes, closed doors, secret handshakes, and couriers. The technologies of the past did not allow for strong privacy, but electronic technologies do”. These are the principles upon which Bitcoin is built. Bitcoin is designed so that only a cryptographic address is necessary to send a transaction, with no unnecessary identifying information. Further, Bitcoin uses strong cryptography, indicating that the creator of Bitcoin, Satoshi Nakamoto, had a strong desire for privacy. Indeed, Satoshi was an active member of the Cypherpunk mailing list and collaborated with various Cypherpunks to develop Bitcoin. Satoshi built on top of the ideas behind several electronic cash systems developed by Cypherpunks including Hashcash, Bit Gold, and b-money. A Cypherpunk’s Manifesto then defines the principles of Cypherpunks and what defines a Cypherpunk, saying “We the Cypherpunks are dedicated to building anonymous systems. We are defending our privacy with cryptography, with anonymous mail forwarding systems, with digital signatures, and with electronic money. Cypherpunks write code. We know that someone has to write software to defend privacy, and since we can’t get privacy unless we all do, we’re going to write it. We publish our code so that our fellow Cypherpunks may practice and play with it. Our code is free for all to use, worldwide. We don’t much care if you don’t approve of the software we write. We know that software can’t be destroyed and that a widely dispersed system can’t be shut down. Cypherpunks deplore regulations on cryptography, for encryption is fundamentally a private act. The act of encryption, in fact, removes information from the public realm. Even laws against cryptography reach only so far as a nation’s border and the arm of its violence. Cryptography will ineluctably spread over the whole globe, and with it the anonymous transactions systems that it makes possible”. Clearly, Satoshi was a true Cypherpunk, and Bitcoin likely would not exist without the research conducted by Cypherpunks on cryptography and electronic money for the 16 years between the time A Cypherpunk’s Manifesto was written and the launch of Bitcoin. Further, Cypherpunks such as Hal Finney were the original users of Bitcoin and played an essential role in keeping Bitcoin alive during the weeks and months after the genesis block. Follow on Twitter: @BitcoinNewsCom Telegram Alerts from Want to advertise or get published on - View our Media Kit PDF here. Image Courtesy: Pixabay The post A Cypherpunk’s Manifesto Calls for an Anonymous Transaction System 16 Years Before the Launch of Bitcoin appeared first on

2 days ago

Tron Rumors Confirmed: The Mysterious “Partner” is Chinese Giant Baidu

Last Friday, Justin Sun, the founder of the Tron cryptocurrency, published a statement that sparked discussions and speculation in the entire crypto community. The announcement stated that Tron is working on a partnership with a tens of billions of dollars worth industry giant. Finally, First time to partner with tens of billions USD valuation industry giant. Guess the name #TRON #TRX $TRX — Justin Sun (@justinsuntron) October 12, 2018 While nothing else was released, the digital currency community quickly came to the conclusion that the unnamed partner was likely Baidu. This is one of the largest companies in China, as well as one of the most popular search engines around the world. For almost an entire week, Tron supporters speculated whether or not this is true, and what possible implications might such a partnership have. Yesterday, the rumors were finally confirmed by the Tron Foundation. #TRON is joining forces with Internet service giant Baidu and will continue to work with large cloud service providers to offer blockchain solutions, make the technology more accessible for users and small business alike. End goal: mass adoption of #blockchain. $TRX — TRON Foundation (@Tronfoundation) October 18, 2018 Tron “Partners Up” with Baidu The confirmation came via Twitter, in a post that explains that Tron and Baidu are joining forces in order to work on a large cloud service with the final goal of providing better blockchain solutions. This is one of Tron’s biggest steps on the road of achieving mass adoption of blockchain yet. In the week prior to this confirmation, numerous rumors that took the Tron and Baidu partnership to be true speculated that the cooperation between the two companies will likely result in Tron’s purchase of Baidu’s cloud computing resources. This was also confirmed by the Tron Foundation. 1/ ODaily: The 'partnership' between Baidu and Tron is basically about Tron buying cloud computing resources from Baidu. "The two parties have made no contact at the blockchain business level". Source(CN): — cnLedger (@cnLedger) October 15, 2018 While many do not see this as a real partnership, it is still a significant move on Tron’s behalf. Not only will partnering up with such a large company bring additional exposure and new levels of trustworthiness to Tron, but it will also help with its goal of decentralizing the web. However, this also means that Baidu will not be using the Tron blockchain for its own purposes, as some additional speculators had claimed. Instead, Baidu’s recent whitepaper indicated that the company is working on launching its own blockchain. Sun Criticized for Misleading Marketing With a situation like that, and the Tron, Baidu partnership mostly being nothing more than an exchange of service, many criticized Sun for making misleading announcements. Assuming the below is accurate, this deserves to be called out as misleading marketing. If I buy a computer with Microsoft Windows installed, I should not claim to have partnered with Microsoft without clarifying the limited nature of the ‘partnership.’ — Ari Paul (@AriDavidPaul) October 15, 2018 This is why multiple members of Tron’s community urged Sun to simply announce the name of the company, instead of purposefully building hype. Especially in this case, when the hype led to a somewhat disappointing revelation. Justin, just announce the name. Tweets like this only allow your followers to romanticize who it could be and most often when people do that, they are let down. — Crypto Kevin (@cryptoskevin) October 12, 2018 justin you REALLY need someone to handle your communications and marketing strategy. you should do some research on the effects of announcing announcements. seriously, this is the big leagues for you now. act like you should be there. — CryptoKilledTheWallStStar (@worker1x) October 12, 2018 Despite the overall disappointment with the announcement, it is clear that Tron is still making big steps forward. While the partnership is not really a partnership, but more of a cloud computing purchase agreement, many still remain supportive of Tron for its efforts. Of course, this will likely mean that Tron’s price is not going to spark a new bull run, as investors hoped. At the time of writing, Tron is still trading in the green, with 2.18% growth in the last 24 hours. Its current price is at $0.024661 per coin, and for now, the 11th largest cryptocurrency by market cap seems to be relatively stable. Featured image from Shutterstock. The post Tron Rumors Confirmed: The Mysterious “Partner” is Chinese Giant Baidu appeared first on NewsBTC.

2 days ago

Finance bros taught writer Gary Shteyngart the secret to making money

In Gary Shteyngart’s first novel, The Russian Debutante’s Handbook, he related the travails of being an Russian immigrant in downtown New York in the 1990s. He then parodied his own book as The Russian Arriviste’s Handjob in his second novel. He then spent a lot of time in Silicon Valley (and even became a “glasshole,” which is to say, an early adopter of Google Glass, paywall) to research the dystopian Super Sad True Love Story. In his latest novel, Lake Success, Shteyngart turns his attention to the world of finance. The book is about Barry Cohen, a hedge-fund legend with $2.4 billion in assets who is having an existential crisis as every aspect of his life falls apart. Cohen leaves everything behind to criss-cross America in a Greyhound bus with only a few $20 bills to his name. “Like your first ankle-monitor bracelet or your fourth divorce, the occasional break with reality was an important part of any hedge-fund titan’s biography,” Shteyngart writes (paywall). For research, Shteyngart told the Wall Street Journal (paywall) he spent a lot of time with finance bros in New York, boarding private jets, attending parties, and getting so drunk he was unable to unbutton his own shirt. When he asked these putative Masters of the Universe to explain the motives of rivals in their world, Shteyngart said that “they would say, ‘His wife doesn’t really love him,’ ‘His mother never loved him enough,’ ‘His children really hate him.’ So many of them were missing fundamental pieces of themselves, and the money was supposed to fill in for those pieces.” Perhaps the most useful piece of advice he was told was how to invest. Shteyngart recalls: “Some of the coolest guys I’ve ever met in this industry say, ‘Let me tell you a secret, Gary: low-cost index funds,’ ” he said. “They’re like, ‘Don’t invest in our stuff. Just low-cost index funds.’” Which makes sense. Many ordinary investors, having realized it’s difficult to pick the right individual stocks themselves and outperform the stock market, are instead pouring money into low-cost index funds that track standard benchmarks. Exchange-traded funds (ETFs) and mutual funds now have trillions in assets and number 3.3 million worldwide—70 times more than the number of publicly listed companies. While ETFs are surging and US stocks soared into their longest winning streak in history, hedge funds are struggling to attract capital and justify their high fees. A well-publicized hedge fund backed by some very big names in the industry closed earlier this month (paywall). Billionaire David Einhorn’s Greenlight Capital has seen its assets under management shrink by more than half, to $5.5 billion, since 2014 (paywall). All of which would have been old news to Shteyngart’s new pals.

2 days ago

The godfather of crypto has a plan to keep digital payments and messages private

There’s growing awareness that slick online services are far from free—and that we may be paying too high a price for some of them. Hyper-specific targeted advertisements are creepy, while using our data to tamper with elections raises surveillance risks to a new level. As more payments take place online via apps, a growing trove of personal data is ripe for exploitation. That’s where David Chaum comes in. His pioneering work in cryptography and digital payments predates bitcoin, and laid important groundwork for its invention. Likewise, he made prescient warnings about online privacy long before data-sharing scandals at mega tech companies like Facebook. “Everything you do could be known to anyone else, could be recorded forever,” Chaum told Wired magazine in 1994. “It’s antithetical to the basic principle underlying the mechanisms of democracy.” His latest venture is called Elixxir, a blockchain designed for fast, secure, and confidential messaging and payments at minimal expense. The design acknowledges that text messages and payments—from WeChat to WhatsApp Pay—are increasingly intertwined, by popular demand. At a CoinDesk conference in Singapore this week, Chaum pointed out that bitcoin was originally supposed to be a payment system instead of speculative asset. While bitcoin’s distributed blockchain is too slow to handle transactions as quickly as centralized systems, like the Visa network, he says he has devised a way to speed it up. He claims the network would also gobble up less electricity than bitcoin, and would be less prone to being undermined by quantum computing (someday, maybe). You can read more about the technical specifications here. Elixxir hasn’t disclosed information about tokens or plans for an initial coin offering, but a beta version is expected to go live early next year. The internet’s first cash—in 1995. (AP photo/Dusan Vranic) Chaum’s attempt to create a private digital money system in the 1990s didn’t catch on, but the computer scientist and cryptographer’s research helped spawn the cypherpunk movement that eventually birthed bitcoin in 2009. He says technology has improved to the point that speed and convenience don’t have to be exclusive to privacy any longer. “It’s not that people are unaware of the privacy that they’re losing,” Chaum said. “It’s that there has been no clear alternative which allows them to take control of their own informational lives without making significant sacrifices in terms of convenience and usability.” Paradoxically, as more payments happen electronically, the crypto crowd has mainly been on the sidelines. Visa and Mastercard are the conduits for a major swath of digital consumer transactions, while Alipay and WeChat reign in China. Tech giants like Facebook, Google, and Amazon are skirmishing to win over burgeoning electronic payment networks around the world. Consumers are forking over a shocking amount of data—for now. Google Payments, for example, collects transaction information such as date, time, amount, merchant location and description, description of whatever was purchased, any photos linked to the purchase, names and email contact information of the seller and buyer, the type of payment method, and your description of the reason for the purchase. Consumers increasingly have to choose “either an identification-based paradigm where information about them is freely linked and traded and analyzed and so on—and maybe misused—versus a world where people take control over their own informational lives by owning their own keys,” Chaum said. “It has only become more and more clear.” The future of finance on Quartz Here’s a way to preserve data privacy when making payments: use cash. The one hundred dollar bill is now the most popular banknote in circulation, beating out the one dollar bill. Islamic finance is rapidly growing across Africa. Investors, governments, and financial institutions are increasingly leveraging it. Is the Wild West for crypto exchanges coming to an end? The New York State Attorney General published a long list of concerns this week. Estonian “e-residents” are multiplying faster than the country’s human-born babies. The virtual residency program is popular enough to make a positive difference for the Baltic country’s economy. The future of finance elsewhere Singapore is making it easier to go cashless. The city-state launched a universal QR-code system to streamline its network. Square’s payment app is becoming more like a bank. “Anything you do today with a bank account, you should look to the Cash App to begin to emulate more and more of that,” according to Square CFO Sarah Friar. That could include things like offering investments. Ant Financial has started a service that helps financial firms go digital, potentially giving them access to its cutting-edge technology. Stripe still thinks crypto has potential in payments. That could be especially true in emerging markets, where networks and systems are less developed.

2 days ago

Islamic finance is gaining a foothold across Africa

Islamic finance is rapidly growing across Africa, with investors, governments, and financial institutions increasingly leveraging its potential for both financing and development. Since 2014, $2.3 billion in sukuk, or Sharia-compliant bonds, have been issued in the continent, notes a briefing from ratings and financial agency Moody’s. There has also been an increase in the number of licensed Islamic financial institutions, rising to over 80 in the last five years. As more governments introduce plans to mainstream Islamic financing, conventional banks in Nigeria, Togo, Senegal, and beyond are also setting up departments or “windows” to cater for clients seeking services in this sector. Islamic finance is based on profit-sharing and prohibits the collection and payment of interest, or usury. The industry surpassed $1.8 trillion in size in 2015 and is expected to grow to over $3 trillion by 2020. The sector has also been lauded by the World Bank as a mechanism to help reduce poverty and promote shared prosperity. African governments, looking for funds to boost infrastructural and development projects, are also fast realizing the sector can help them raise capital globally or diversify their funding base. This is especially true of the Gulf and Muslim Asian countries who have large pools of available capital. The growing Muslim population in Africa also forms part of the growing demand for Islamic finance: a 2017 Pew Research study estimates the share of the world’s Muslims who live in sub-Saharan Africa will increase from 15.5% in 2010 to 24.3% in 2050. The industry is also being encouraged by the rise of other Muslim-friendly sectors like halal tourism, with developers and hoteliers in Africa looking for financing that is in line with Islamic teachings. Despite the optimistic outlook, African countries still have a lot to catch up with the global trends. Islamic banking assets represent less than 5% of total African banking assets, Moody’s notes, while African sukuk makes up just 0.5% of global sukuk issuance. Sign up to the Quartz Africa Weekly Brief here for news and analysis on African business, tech and innovation in your inbox. Sign up for the Quartz Africa Weekly Brief — the most important and interesting news from across the continent, in your inbox.

2 days ago

Report: Despite Price Volatility Blockchain and Crypto Jobs Are In Demand

Glassdoor Economic Research is delivering much needed good news to the crypto community saying that despite extreme price volatility and regulatory uncertainty, the number of crypto jobs in the blockchain and cryptocurrency sector has risen by 300 percent since the same time last year.Saying that “the professionalism of the space has accelerated,” the report notes that “continued growth in job openings suggests that blockchain employers remain confident in the market opportunity and continue to make long-term investments in their teams.”Using their substantial job search site to search out blockchain and cryptocurrencies jobs, Glassdoor Research learned that, in August 2018, there were 1,775 unique blockchain-related job openings in the U.S. By comparison, in August last year, there were only 446 similar job listings, representing a 300 percent year-over-year increase.“Hiring and jobs is a much more stable metric to observe when looking at the health of an industry, compared to the stock market or currency values that can, and do, fluctuate daily,” Glassdoor economist Daniel Zhao, who worked on the study, told Bitcoin Magazine:“What the strong surge in job growth that we see on Glassdoor shows is that there is a clear interest in investing in workers with skills related to Bitcoin and other digital currencies.”"Bitcoin-Related" Skills Are in DemandOne of the report’s surprises is that more cryptocurrency jobs were created than blockchain jobs, as what Zhao referred to as "Bitcoin-related" skills were the most in demand, despite recent price volatility. “There’s been a lot of Bitcoin buzz among financial investors as well as the general public that’s grown quickly over the last few years. What our research found was a 300 percent growth in online job postings for Bitcoin-related jobs compared to the previous year, which is a significant surge. “Although we’ll continue to watch and see where Bitcoin is headed, for employers to make these investments is a sign that they see it as a growing industry,” he stated.Who's Looking and What ForAs far as job occupations listed, engineering, technology and science jobs made up 55 percent of the jobs posted.Software engineers were most in demand, accounting for almost 20 percent of the technical job listings. Others on the list included analyst relations manager, product manager, risk analyst and marketing manager.As can be seen in the following chart from the report, IBM and ConsenSys had the most blockchain- and cryptocurrency-related job listings, while other companies like Coinbase and Kraken were also hiring.Top 15 Employers Hiring for Blockchain-Related JobsThe report notes that some consulting or professional services firms like Accenture and KPMG are hiring people specifically to advise their clients on how to apply new blockchain technologies.Better Pay for Blockchain JobsLikely due in part to a competitive market where growing demand is outstrippng the supply of trained workers, companies hiring are offering higher than average compensation. The median salary for crypto jobs is $84,884, well above the median salary for all U.S. jobs.Zhao added: “Our data found that not only is there a growing interest for Bitcoin-related talent among companies both large and small and at companies across the country, but these roles often pay more than the U.S. median salaries. We found Bitcoin roles pay $84,884 per year, which is about 62 percent more than the U.S. median salary.”Cities With the Greatest DemandNew York City and San Francisco represent a disproportionate share of blockchain-related jobs at 24 percent and 21 percent of total job openings. San Jose (6 percent), Chicago (4 percent) and Seattle (4 percent) round out the top five cities for blockchain job openings. “I also found it interesting to see the spread of Bitcoin-related opportunities across the United States. Although it’s no surprise to see that most job opportunities reside in the financial hub of New York, our data shows that companies across the U.S. and even several mid-sized cities are looking for this type of talent. What we’ve seen is that in some of these mid-sized cities, local organizations have established initiatives to help put them on the map for Bitcoin and cryptocurrency talent,” said Zhao.Internationally, London topped the list with 189 blockchain-related job openings, followed by Singapore, Toronto and Hong Kong.Is Bitcoin Here to Stay?Asked if he thinks this growth in jobs is unusual compared to other sectors, Zhao said:“The growth in the blockchain industry has looked like the broader tech boom. Similar to the technology industry, Bitcoin-related jobs are concentrated in certain talent hubs, with higher than average salaries for workers as investment pours in. Plus, both startups and larger companies alike are investing in this sector — all things we’ve seen shape the tech job market.”With continuing market volatility and uncertainty around what regulators plan to do, it’s a legitim

2 days ago

The Myers-Briggs company wants to bring personality tests to work

In 1942, a mother-daughter duo created a personality test that would captivate a generation. It was the middle of World War II, and Katharine Cook Briggs and her daughter Isabel Briggs Myers wanted to create a way for women—many of whom were entering the industrial workforce for the first time—to find a job that would match their personalities. After the war, the test was administered to help soldiers find a “life closer to [their] heart’s desire.” Some 70 years later, the world’s most famous personality test is squarely aimed at the workplace again. The two main distributors of the assessment—CPP in the US and OPP in the UK—are coming together to form a new business, The Myers-Briggs Company, which will both administer the test at companies and consult with them on its findings. In the future, The Myers-Briggs Company aims to use personality tests as a launchpad to help businesses understand each of their employees as an individual—or at least one of 16 categories of an individual. “Understanding your personality helps you understand yourself, but more importantly, in a workplace context, it helps you understand others,” says Jeff Hayes, the former head of CPP and the CEO of the new venture, which launched today (Oct. 18). He believes that there’s a dearth of self-awareness in the workplace. By developing an understanding of how others take in and process information, he thinks we can all become more empathetic teammates. Some companies, like Bridgewater Associates, the world’s largest hedge fund, already go all-in on personality tests. Every new Bridgewater employee takes the Myers-Briggs assessment in the first few days on the job. “When I was getting to know my colleagues during the year I worked there, we would exchange Myers-Briggs acronyms before almost anything else—a replacement for typical office small-talk,” writes Leah Fessler, a Quartz reporter who used to work at Bridgewater. As Fessler notes, a personality test will never reflect the nuance and complexity of a full person, but it can certainly be a helpful guide. At the office, a colleague or manager can use your personality type to glean insight into your working style and how you prefer to collaborate. As for the people taking the test, they may not find their own results all that surprising, but they’ll at least have a built-in opportunity to reflect on what they know to be true about themselves, which is always a valuable exercise.

2 days ago

Peter Jackson’s new documentary film brings World War I to life as never before

Peter Jackson proved himself to be something of a wizard by bringing J.R.R Tolkien’s The Lord of the Rings novels to life as a transcendent film trilogy. Now the filmmaker is using groundbreaking technical innovations to breathe life into the awful conflict that inspired Tolkien’s fantasy writings in the first place: World War I. Jackson’s new 3D documentary film They Shall Not Grow Old premiered in the United Kingdom on Oct. 16 in what was supposed to be a one-night only event. But the critical response (“astonishing,” “revelatory”) and box-office returns (£2,260, or $2,953 average per screen across 247 screens—excellent for a documentary, especially one with little publicity to date) were so overwhelmingly positive that the film is now being eyed for extended US and international theatrical releases, Deadline reports. The New Zealand director and his team combed through 600 hours of archival footage from the Imperial War Museums in England and audio from the BBC archives to craft a look at life in the trenches on the Western Front of World War I in a deeply personal way that reviewers are saying has never been done before. Jackson’s team restored and colorized the footage, and converted it to three-dimensional, 24 frames-per-second digital film. The team also hired lip readers to help voice actors determine what the soldiers were actually saying in the footage. The archived audio is combined with voice recordings from the veterans themselves. Variety compared the colorized, 3D footage in They Will Not Grow Old to the moment in The Wizard of Oz when Dorothy steps out of her sepia-toned world into lavishing Technicolor. “If this sounds like the world’s most state-of-the-art educational video, that’s exactly what it is,” Guy Lodge wrote for Variety. In the Guardian, Peter Bradshaw calls it a “visually staggering thought experiment,” adding that “the soldiers are returned to an eerie, hyperreal kind of life in front of our eyes, like ghosts or figures summoned up in a seance.” Such dramatic technical changes could have easily felt like a gimmick, but it sounds as though Jackson avoided that pitfall, instead using the restorations to bring an immediacy to a war that until now has only been seen in grainy black-and-white footage. According to reviewers, the film is unsparing in its depiction of the trenches, showing in detail the horrid realities of the day. Those realities were experienced by Tolkien himself as a 24-year-old British soldier at the Battle of the Somme in 1916. It was in the trenches where the author first came up with some of the ideas for his fantasy world, which Jackson would adapt for film 85 years later. In the UK, the BBC will broadcast They Will Not Grow Old on Armistice Day, Nov. 11—exactly 100 years from the end of the war. We’ll update this story when international release dates are announced. Peter Jackson’s WWI doc ‘They Shall Not Grow Old’ is an extraordinary film, four years in the making. The restoration of this footage that’s more than 100 years old is so evocative, you feel the true humanity of the young men in this brutal war. A genuinely astonishing document. — edgarwright (@edgarwright) October 16, 2018

2 days ago </