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Viacoin News

Decentralized File Storage: Five Projects To Replace The Cloud

Data generation is on overdrive, and consumer requirements are far outpacing the capacity of individual hard drives. Current estimates suggest that 2.5 quintillion bytes of data created every day, flooding out of numerous connected devices. Most cloud storage solutions rely on systems like Dropbox, Microsoft OneDrive, Google Drive, and Apple iCloud Drive. These platforms are highly centralized, with single points of failure that are highly susceptible to breaches. Thus, they undermine privacy, keep the prices of data storage high, and are prone to errors resulting in costly Internet outages down the line for users. Decentralized storage is now gaining traction as a secure solution. Starting with Interplanetary File Storage, several crypto projects are seeking new ways to secure user data. These are the main players in decentralized file storage: InterPlanetary File System The IPFS Protocol is a P2P (peer-to-peer) distribution protocol that attempts to “connect all computing devices with the same system of files,” just like the documents in your hard drive. Although similar to the Web, IPFS is more similar to a BitTorrent swarm, which exchanges objects with a GitHub repository. Unlike the web, data on IPFS has no single point of failure, and nodes don’t need to trust one another. IPFS in itself is becoming a primary subsystem of the internet, which could complement or even replace HTTP. The system combines ideas from previous P2P systems such as BitTorrent, Git, self-certified filesystems (SFS), and distributed hash tables into a single cohesive ecosystem, that distributes large data while allowing for writing and deploying applications. Since the data is content-addressed, nodes don’t need to trust each other. Instead, they connect, transfer, and store objects (i.e. files and data structures) in local storage. Here’s what happens when you add a file to the IPFS Protocol: Each data file is given a cryptographic hash, which functions as a unique fingerprint. IPFS removes duplications across the network and tracks the version history of each file. Each network node only stores what it is interested in, while indexing the information to help determine who is storing what. Anytime someone wants to look up a certain file, they ask the network to find nodes storing content associated with the file’s hash. However, IPFS is not free of limitations, and the lack of concrete incentives cause a barrier for long-term file storage. Several projects are seeking to overcome these problems by allowing users to pay for storage with cryptocurrency. Storj Storj is the market leader of decentralized storage with a community of about 20,000 users and 19,000 storage providers. The project is currently in public alpha, and costs $0.015 per gigabyte of storage per month, according to the website. In the Storj protocol, nodes are selected to host data based on ping time, throughput, and other criteria. Users will not have to choose a specific timeframe to store their files, as the data will remain there indefinitely until it is removed. The protocol utilizes sharding, encryption, and swarming models to split and recompile files. Currently, Storj is “payment agnostic” but uses the ERC-20 token STORJ to compensate storage providers. In the future, the platform says it will offer payments through other cryptocurrencies, fiat currencies, credit, or “even physical transfer of live goats.” SiaCoin When it comes to having a viable product, Sia is one of Storj’s top competitors. As of the time of writing, it costs $0.28 to store a terabyte of data for a month, with small fees for uploading and downloading data, as well as contract formation. Sia maintains storage through smart contracts. Each file is split into thirty encrypted segments, but can be rebuilt using only ten of these segments. Records in the Sia network are encrypted, in the same manner as those on Storj. Each host then promises to store data for a specific length of time, which can be cryptographically verified without exposing the data. The host is then compensated for every proof they submit, and penalized for missing proofs. Sia has its own blockchain, which supports the smart contracts that are used to send and manage files, as well as making storage proofs to be publicly available and verifiable. Therefore, it needs miners to support its blockchain and rewards them in SiaCoin. FileCoin FileCoin is a project from Protocol Labs, the same company that has successfully deployed IPFS. It’s widely known for launching one of the most successful ICOs, which raised over $200 million in token sales. It also has backing from players such as Kamal Ravikant and Andreessen Horowitz. With Filecoin, users are able to program how long they’d like to offer or provide services. The FileCoin data service does not rely on a single coordinator, but rather a client, storage miner, and retrieval miner. Clients pay to store and retrieve data, storage miners earn tokens b

11 hours ago

Crypto Investor: Bitcoin (BTC) May Surpass Market Caps of Visa & Mastercard In 3 Years

Focus On Bitcoin, Not BTC Since Bitcoin (BTC) burst onto the digital scene in 2009, the innovation, first headed by Satoshi Nakamoto, has been lauded as an optimized, decentralized version of Visa, Mastercard, and the like. And while the narrative has undoubtedly changed over the years, with the “BTC is digital gold” argument becoming a common sight, many believe that the world’s first blockchain network could still usurp centralized networks with ample research, development, and most importantly, time. In a recent edition of Off The Chain, a crypto-centric newsletter and podcast run by Anthony Pompliano, the founder of Morgan Creek Digital Assets and an overt skeptic of banks, it was explaining that Bitcoin could begin to make a move on centralized payment ecosystems. Pompliano, who authored the piece, explained that a spotlight should be put on the blockchain itself, dubbed the “world’s most secure transaction settlement layer,” rather than just BTC itself. And while Pomp made it clear that it is difficult, maybe impossible to value payment ecosystems, as the concept of network value is often abstract, not quantifiable, and still developing, the leading crypto investor did his best to draw attention to Bitcoin’s strong, but lesser-known fundamental measures. Bitcoin, the transaction settlement network, is a sleeping giant —more people should be talking about this. https://t.co/aUwlVWegMn — Pomp (@APompliano) January 15, 2019 Morgan Creek’s founder also quipped that he wouldn’t be surprised for BTC to start making a move on Visa and Mastercard. This move may only be accentuated as scaling solutions like the Lightning Network and other improvements go live and garner copious traction, while Bitcoin’s fundamentals continue to beat that of its altcoin counterparts. Bitcoin’s Market Cap May Surpass Visa & Mastercard... Eventually Citing recently-aggregated data from Diar, a leading crypto-friendly publication and research unit, Pomp noted that Bitcoin’s miners were “paid a total of $5.8 billion in revenue (fiat value of BTC produced) in 2018.” Although these aren’t exact numbers, especially considering the depreciation of BTC and other pertinent nuances or caveats, Pomp explained that this sum, the “top line revenue figure,” would help put Bitcoin’s status in the payment world “into context.” The commentator, known for anti-bank, pro-crypto rhetoric and scalding comments on the establishment, subsequently compiled and visualized basic financial data from Visa, Mastercard, Square, Western Union, and two leading social media platforms to convey a point. Pomp explained that from a revenue multiple (revenue to market capitalization ratio) point of view, Bitcoin is effectively more undervalued that both Visa and Mastercard — “the two transaction settlement networks that are most commonly compared to Bitcoin.” He noted that although BTC isn’t meant to be valued by revenue multiple, a measure often used in traditional markets, this gives context to the underlying blockchain’s performance and pseudo-inherent value. And while BItcoin’s RM is expected to increase over 2019, due to suppressed prices, Pomp made it clear that such a move would be reasonable, “given the fast growth rate and historical premiums given to early companies/networks in an attempt to price in untapped potential.” With all this in mind, he expressed that he wouldn’t be surprised if Bitcoin, currently 1/4th the market cap of Mastercard and 1/6th of Visa, begins to overtake the valuations given to traditional payment networks over the next three years. Ending his analysis piece on an optimistic note, Pomp wrote: The legacy networks were built for a world that we no longer live in and the decentralized network is built for the future. This recent quip comes just days after Pomp took to Ran NeuNer’s Crypto Trader to claim that he expects for BTC to range trade between $2,500 and $4,500 for much of 2019. However, like his Off The Chain post, he remained bullish on the network’s fundamentals, explaining that hashrate quadrupled (at 2018’s peak), while transaction count increased month-over-month from March until now. And, a collective $400 billion worth of value was settled on the Bitcoin network throughout 2018. Title Image Courtesy of Andre Francois Mckenzie Via Unsplash The post Crypto Investor: Bitcoin (BTC) May Surpass Market Caps of Visa & Mastercard In 3 Years appeared first on Ethereum World News.

12 hours ago

Crypto Investor: Bitcoin (BTC) May Bottom Soon, But Bull Run Unlikely

After a holiday hiatus, Ran NeuNer, the founder of OnChain Capital and the host of CNBC Africa’s “Crypto Trader” segment, brought on a number of leading crypto investors, who all did their best to forecast where Bitcoin (BTC) and this industry would be heading next. Pomp Expects Sideways Price Action For Bitcoin When asked about if the worst of 2018/2019’s bear season is over, Anthony “Pomp” Pompliano, the founder of Morgan Creek Digital Assets and a former Snapchat and Facebook growth staffer, noted that Bitcoin likely doesn’t have much further to fall. This comment comes just weeks after Pompliano took to BlockTV to claim that there’s a chance BTC could re-test its $3,150 lows, before potentially falling even lower. In the CNBC Africa segment, Pomp went on to add that while a bottom is likely inbound, there’s a low chance that BTC and other cryptocurrencies will embark on a drastic recovery during 2019. The decentralist, who has been overtly skeptical of banks, noted that instead of falling further, BTC may begin to range trade, potentially between $2,500 and $4,500 for much of 2019. Pomp’s comments are interestingly similar to those touted by Fred Wilson, a pro-crypto venture capitalist that co-founded Union Square. Per previous reports from Ethereum World News, Wilson, who has become a respected figure in the Bitcoin, Silicon Valley, and traditional finance world alike, believes that crypto will find a long-term foothold during 2019. Wilson didn’t stipulate where exactly cryptocurrencies would bottom but claimed that in the months to come, he expects for a fair share of “bullish runs” and influxes of “selling pressure” to push cryptocurrencies to retest their one-year lows. After Bitcoin finds some ground to stand on, the Union Square partner, who was presumably behind his firm’s investments in Coinbase and Polychain Capital, noted that he expects for this industry to enter its next bull season. Tone Vays, a former institutional investor turned Bitcoin diehard, also recently echoed the idea that this market will find a long-term foothold during 2019, but was also vague about the precise timing and price points. Crypto Fundamentals Still Strong When asked about adoption, the Morgan Creek representative noted that all of Bitcoin’s underlying fundamentals are still going strong, echoing sentiment touted by Jameson Lopp of Casa. Pomp noted that this shows that “adoption has continued to increase even amid the bear market.” Backing his comment, Pompliano explained that hashrate quadrupled (at 2018’s peak), while transaction count increased month-over-month from March until now. And, a collective $400 billion worth of value was settled on the Bitcoin network throughout 2018. He went on to draw attention to the Lightning Network, which many believe will single-handily catalyze global adoption of cryptocurrencies, most notably Bitcoin. Pomp noted that the scaling solution is one of the fastest-growing protocols regarding scalability and usability. The in-house Morgan Creek crypto bull then noted that Lightning will be one of the big stories of 2019, along with the growth of a strong retail product and the arrival of institutional participation. Title Image Courtesy of descryptive.com Via Flickr The post Crypto Investor: Bitcoin (BTC) May Bottom Soon, But Bull Run Unlikely appeared first on Ethereum World News.

13 hours ago

Altcoins Daily Preview: IOTA Bullish, Cardano’s ADA out of Top 10

Latest IOTA News Harm van den Brink together with fellows from ElaadNL and Enexis now have a proof of concept system demonstrating that it is actually possible to build an autonomous self-balancing smart grid network powered by IOTA. In this new machine to machine, smart self balancing grid, the IOTA network allows for secure exchange of data. Additionally, connecting devices can make choices on their own on whether they can or not join the grid. The grid in this case refers to all devices and transformer to one part of the master grid and messages are exchanged via the Tangle in JSON format. All code is based on JavaScript. Read: Marshall Island Hires Malta’s Strategic Advisor to Assist in the Issue of an Official Cryptocurrency Note that this is not the first time Brink is leveraging on IOTA demonstrating different use cases of the network. In 2015, he was part of the team behind Electric Vehicle Charge Station where IOTA handled payment and communication and by the look of things, this Proof of Concept vividly demonstrates that IOTA’s application is near infinite in a world gravitating towards the internet of things. Also Read: Hacker Responsible for 51% Attack Against Ethereum Classic Returns Part of the Stolen Funds Meanwhile, reports have it that VW is stepping up, creating a network of charging stations in China. While there is no mention of IOTA, the IOTA Foundation and VW have been working on several projects in the past few months. Imagine every MaaS electric self-driving vehicle as entrepreneur with its own identity, wallet, autonomous pricing and payments for parking, charging, cleaning, maintenance, etc. I am a big believer in Distributed Ledger Technology and Decentralized Computing, esp. Tangle #IOTA https://t.co/wRLqAjo33S — Johann Jungwirth (@JohannJungwirth) February 22, 2018 The CDO of VW, Johann Jungwirth even explained about employing IOTA in a new market, the MaaS—mobility as a service where the network can use to distribute updates securely in a car connected system. Johann was a member of the IOTA’s supervisory board. IOT/USD Price Analysis Like Bitcoin and the rest of the market, IOTA is bleeding and down a massive 24.4 percent in the last week. However, we strongly believe that this drop is but another buying opportunity for aggressive traders. Note that from the chart, IOT is trading within a bull breakout pattern against the USD after prices shot above the four month resistance trend line on Dec 22 and rejected further lows on Dec 28. Because of this, it is likely that IOTA will find support at the main support trend line previous resistance at around 25 cents. If not, then bears may press forward and prices could drop below Dec 2018 lows of 20 cents by end week. ADA/USD Price Analysis As we expect Shelly and decentralization, ADA is out of the top 10. In line with our previous ADA/USD price analysis, bulls will only be in charge if and only if there are solid breaks above 6 cents or if there is resurgence of higher highs clearing Jan 10 losses. If not, then we expect the third phase of a classic bear breakout pattern to resume as we classify the upswings of late Dec 2018 and early 2019 as the second phase, the retest, paving ways for sellers to enter at better prices once prices drop below 3.6 cents. After all, we now have a double bar bear reversal pattern backed by above average volumes spearheading this drain. Potential support may be found at 3.6 cents and later 2.8 cents or Dec 2018 lows. All charts courtesy of Trading View This is not Investment Advice. Do your Research. The post Altcoins Daily Preview: IOTA Bullish, Cardano’s ADA out of Top 10 appeared first on Ethereum World News.

13 hours ago

Ethereum Price Analysis: ETH Breaks Key Resistance As Sellers Lose Control

ETH price rallied recently and recovered sharply above $121 and $126 against the US Dollar. Yesterday’s highlighted important bearish trend line was breached at $121 on the hourly chart of ETH/USD (data feed via Kraken). The pair tested the $130-132 resistance area and now it may correct a few points in the near term. Ethereum price jumped back above key pivot levels against the US Dollar and bitcoin. ETH/USD could continue to move higher towards $136 after a minor downside correction. Ethereum Price Analysis Yesterday, we saw a nasty decline below the $121 and $115 supports in ETH price against the US Dollar. The ETH/USD pair traded as low as $113.48 and started consolidating. Later, sellers slowly lost control, resulting in a bullish reaction above $115 and $118. The price rallied more than $15 and broke the $121 and $126 resistance levels. There was also a break above the 23.6% Fib retracement level of the last major decline from the $151 high to $113 low. More importantly, yesterday’s highlighted important bearish trend line was breached at $121 on the hourly chart of ETH/USD. The pair settled above the $125 level and the 100 hourly simple moving average. It traded close to the 50% Fib retracement level of the last major decline from the $151 high to $113 low. At the moment, the price is consolidating gains above the $125 level and the 100 hourly SMA. Dips from the current levels remain supported near $125 and $124. The main support is now $121-122, below which the price might move back in a bearish zone. Looking at the chart, ETH price is showing a few positive signs above $121 and $125. If it breaks the $130-132 zone, there could be more gains in the near term. The next stop could be $136, which is the 61.8% Fib retracement level of the last major decline. ETH/USD Technical Indicators Hourly MACD - The MACD for ETH/USD is slowly reducing its bullish slope, signaling a short term correction. Hourly RSI - The RSI for ETH/USD is currently well above the 60 level, with a minor bearish angle. Major Support Level - $121 Major Resistance Level - $132 Ethereum Price Analysis: ETH Breaks Key Resistance As Sellers Lose Control was last modified: January 15th, 2019 by Aayush JindalThe post Ethereum Price Analysis: ETH Breaks Key Resistance As Sellers Lose Control appeared first on NewsBTC.

13 hours ago

Issuing a Security Token: Hype versus Reality

In November 2018, to the excitement of many in the crypto industry, the first ever security token exchange, OpenFinance Network, launched by publicly listing two of the earliest security tokens: Blockchain Capital (BCAP) and SpiceVC. This event along with a few others, like a highly anticipated real estate offering launched by VC-backed Harbor, marked a new beginning for the security token industry: one that many believe will grow to become a multi-trillion dollar market. Security token advocates and experts often cite a number of improvements that this technology offers beyond existing private placement infrastructure. These typically include the administrative and cost savings as well as the increased liquidity. While I believe in the highly-anticipated promises security tokens have to offer in revolutionizing the financial markets, I worry that, as with ICOs, the hype is beginning to exceed the reality. Administrative and cost savings Even the most aggressive cost savings estimates place security token issuance costs between $600,000 and $1m. This is nearly identical to the costs of issuing traditional securities and may prohibit smaller issuers from launching. But is that a true representation? The reality is that in today’s markets, issuing a security token may actually cost more than a traditional private placement. First, security tokens are a new domain for regulators. As such, the legal costs for issuing a security token can exceed those of a traditional private placement in which legal documents are highly standardized. Prospective issuers will need to coordinate with and pay a whole host of new service providers including security token issuance platforms, custodians, and broker-dealers. In fact, there are currently around two dozen security token issuance platforms - outnumbering the number of successful security token issuances to date. Primary issuance platforms like Securitize may ultimately save issuers hundreds of thousands of dollars in administrative expenses due to technological improvements in custody and compliance, plus automated investor communications, dividend payments, and transfer restrictions. However, the majority of these cost savings are expected to accrue after the token has listed. Thus, it is important that would-be issuers understand this and take note of the increased up-front costs. Finally, the act of “launching” a security token only means that it is now ready to receive investment. Issuers are still responsible for raising capital and without the right investor relationships may ultimately fail to close. Increased Liquidity Once an issuer has launched and raised, its token will eventually be listed on a secondary exchange. There is currently only one live exchange that offers security token trading - although more are expected to come online in 2019. We’re still in the very early innings, but it’s important to remember that a listing does not necessarily mean it will be liquid. To date the average daily trading volume for BCAP and SpiceVC tokens on OpenFinance Network remains below one thousand dollars each. Compare that with volumes of some middle-range cryptocurrencies and you get a sense of scale. In 2019, the major challenge facing security tokens will be product-market fit: Who are the individuals and institutions that will lead investments into security tokens? Who will provide the liquidity? Many in the security token industry cite the ICO market boom as a sign that blockchain technology unlocked the potential of crowdfunding and that security tokens will carry the mantle. However, ICOs truly democratized access to investing for the masses. Anyone, from anywhere, could invest in ICOs without undergoing proper KYC/AML. Of course, this was not legal. The vast majority of security token offerings today will follow Reg-D guidelines, meaning they will be restricted to a limited universe of accredited investors. An accredited investor has a net worth of over $1m, or an annual income that exceeds $200,000; the ordinary retail investor won’t get a look in. Currently, the individuals and institutions that have the ability to invest in traditional private placements are mostly waiting on the sidelines. Crypto-native investors are either out of capital due to recent steep price declines, or have a very different risk/reward threshold than that offered by security tokens. It is unclear whether there exists robust investor demand for security tokens that can drive meaningful liquidity in the short to midterm. Security tokens that will achieve success in these early days will be those who look closely at market demand and bring their own investors to the table. Why does this Matter? The security token industry seems poised to solve this product-market fit issue by increasing the number of issuances at great benefit to the industry’s service providers. However, this could lead to a glut of listed, but illiquid tokens without a robust secondary market for a number of year

13 hours ago

Constantinople: who, what, where, how?

Ethereum’s latest network upgrade, Constantinople, will take place at block number 7,080,000, which is predicted to occur on Wednesday, January 16. The countdown to Constantinople can be tracked on Ethereum explorer, AmberData. Details Constantinople contains five distinct upgrades, four of which are designed to optimize performance: EIP-1234: Constantinople Difficulty Bomb Delay and Block Reward Adjustment Delays the difficulty bomb for approximately 12 months and decreases block, uncle, and nephew rewards by 33%. EIP-145: Bitwise shifting instructions in EVM Adds native bitwise shifting that reduces cost and improves efficiency of information processing by 10x. At present shift operations can be implemented via arithmetic operators but only at exorbitant cost. EIP-1014: Skinny CREATE2 Allows developers to interact with addresses that have yet to be created, opening up possibilities for frictionless onboarding of dApp users and paving the way for state channels. EIP-1052: EXTCODEHASH opcode Introduces a new opcode, which returns a hash of a contract’s code, facilitating contract code verification for whitelisting purposes. EIP-1283: Net gas metering for SSTORE without dirty maps Increases gas efficiency and reduces complexity of contract storage. EIP-1234: Of the five upgrades, EIP-1234 has sparked the most discussion. Nevertheless, there is a sense of overwhelming consensus among the Ethereum community that it should proceed as designed and thus is highly unlikely to induce the type of chain split that led to the creation of Ethereum Classic. The ‘Ice Age’ feature, which makes discovery of satisfactory hashes increasing difficult, was designed to incentivize miners to switch to Ethereum’s Proof of Stake chain once development is finalized. Due to delays in Proof of Stake research, core developers have decided to delay the ‘Ice Age’, thereby allowing blocks to maintain their 10-15 second production time. EIP-1234 also contains a 33% reduction in issuance, informally referred to as ‘The Thirdening’, moving ether’s inflation rate more in line with that of bitcoin. In theory this adjustment to the inflation rate should see proportional appreciation in the price of ether as natural sell pressure from miners falls, although whether this has already been priced in and will actually result in a net gain or loss for miner revenue remains to be seen. Source: Ethhub.io (Note: Issuance rate in Serenity phases is yet to be finalized) Source: Kiran Vaidya Either way, miners are essentially left without a choice as the upcoming difficulty adjustment on the pre-Constantinople chain will render the network unusable in the coming weeks and months and exchanges are unlikely to create markets for pre-Constantinople ether. Miners could coordinate to delay the difficulty adjustment on the pre-Constantinople chain while maintaining the current issuance rate, but they would likely struggle to attract wider developer support, ultimately rendering their chain worthless. Logistics As Constantinople is a hard fork, Ethereum node operators must update their clients to the latest version. For geth and Parity, these are v1.8.20 and v2.1.11/2.2.5, respectively. Any node that fails to upgrade will sync to the pre-fork blockchain and will be unable to send ether or operate on the post-upgrade Ethereum network. At the time of writing, 15.5% of clients have upgraded. While ostensibly low, the adoption is actually relatively high for a pre-fork state, with remaining node operators expected to follow suit if the fork passes smoothly. The main concern is that miners adopt the upgrade as they are responsible for securing and determining the canonical chain. Fortunately, owners of ether that do not run full nodes can sit tight and rest easy as there is no action required to claim their holdings on the new chain. UPDATE - As noted by Parity Tech’s Afri Schoedon, the client upgrade figures are higher than currently reported by Ethernodes’ ForkWatch page. Ethernodes parses everything that speaks devp2p, which includes nodes running non-Ethereum chains. The preview of Ethernodes’ new API indicates that roughly 44% of Geth and Parity nodes have updated their clients. The post Constantinople: who, what, where, how? appeared first on The Block.

13 hours ago

How The Block works

I’m John Biggs and I’m The Block‘s new editor-in-chief. In about 2011 my friend Tom Printy AIMed me (!) to tell me about a new currency that he was mining on his computer. I thought the idea was silly - a network-based currency? That I could generate using my computer? It would never work. It did. I’ve been covering blockchain with some skepticism and much optimism since, posting one of the first guides for mining Bitcoin under your desk and interviewing assorted figures at various events in hopes of bringing the beliefs that they so closely held into the the bright light of scrutiny. The results have been mixed. Now, I join you here on The Block as editor-in-chief. Why? Because this team is trying to assess crypto startups using the tools for analyzing real businesses and we’re finding things are sorely lacking. The last ICO craze brought us deeply funded “unicorns” that fell over as soon as they stood up. The crypto bear market injected a panic not seen since the dot-com boom. The major figures in the industry are being exposed as either patient pragmatists or charlatans - there is no middle ground. And money is moving through the space at a frenetic pace and the bag holders are dumping. The rats, as they say, have started leaving the sinking ship. But we believe all of us can right that ship. We at The Block are optimistic about the future. Blockchain and crypto are two of the purest products of our new century. Just as the Web connected us socially, crypto will connect us economically. This is vitally important. I haven’t felt this much excitement and potential in a technology since I first ran the primitive Lynx browser on an Andrew terminal at Carnegie Mellon. The possibilities were limitless although the visible horizon was limited. The mission of a journalist is to afflict the comfortable and comfort the afflicted. This rarely, if ever, lines up to the results of financial reporting, but you can be damn sure that we will try to maintain this mantra as we go forward. If this technology is to enlighten the future we cannot concede defeat to those who would drive it into darkness. Founders: We work with you, not for you. You’ll grow to appreciate this over time. Investors: We will bring you the truth and nothing but. Makers: We want to hear from you. Contact us when you make something cool. You can email us directly at tips@theblockcrypto.com. We want to hear from you. Now, we’d like to address our sourcing guidelines. The Block covers blockchain and financial news, primarily cryptocurrency-related startups. If you are part of this group or are related to topics we might cover, we will reach out to you via multiple media. This is what we’d like you to know. Are we actual journalists? Yes. A journalist reports the truth as clearly as possible for a mass audience. Our focus is the esoteric and sometimes freewheeling world of fintech and cryptocurrency. In this fast-changing environment the truth may change overnight. We try to reflect that as much as possible. We are not professional programmers and as such we may not be able to reflect many of the deeper points associated with the industry. It behooves you and your team to help our journalists understand your topic as clearly as possible. We will often use outside sources like TechForReporters.com in order to help us understand nuances of the space. We look for at least two named sources per article or point of fact. Barring that, we aim to have at last one immutable source for each piece of data. We are not paid by sources, we do not accept any form of payment for positive coverage, and we will report on any efforts to pay us for coverage. Those who represent us as journalists follow this same code and will never ask for cash in exchange for coverage. If this happens, please contact us immediately. But you’re bloggers! Online media - blogging - is journalism. Blogging is journalism on a tight deadline, more akin to the writing created by wire services like the AP or Reuters than long-form writing found in magazines. As such, we are under a tight deadline to produce stories that are immediately topical. We also do not have the luxury of long lead times or lengthy interactions with sources. Why would we contact you? We are a news organization and we desire to cover news fairly with as little injected bias as possible. We also publish op-eds by our writers that comment - positively or negatively - on the current state of the blockchain industry. We want to see a vibrant blockchain scene bloom through the spread of truth and clarity. Therefore, we will contact you to ask you for both. We will contact you if your company has made news, if you have expertise in a topic we are researching, or if we need to confirm a rumor regarding your business or the industry. It is our job to cover as much of this industry as possible and we receive most of our stories via tips others give us. We aim to confirm these tips in all cases. How will we contact you? The fo

13 hours ago

New Zealand exchange reports ‘significant losses’ following estimated $3M hack

Cryptopia Exchange suspended trading Monday following a serious hack. The New Zealand-based company, which primarily trades alt-coins, released a statement saying it had gone into maintenance mode until further notice while the “security breach” is investigated. No official figure has been released on the amount of funds missing but an analysis via etherscan of two suspected transfers indicates that it could be in the range of $3.5 million - including 19,391 ether (ETH) tokens worth around $2.44 million. The other token targeted was CENNZ. The transfers were made on Jan 13 from Crytopia to an unknown wallet, though it is unconfirmed whether they were made by a hacker or a legitimate user. Local police are investigating the “major crime,” the statement added. Currently, hacks on crypto exchanges total more than $1.1 billion, according to an analysis by Larry Cermak. This includes the infamous attacks on Mt. Gox and Bitfinex. If confirmed, the hack of Crytopia would be the first reported one of its kind this year. Meanwhile, Cryptopia’s website remains under “unscheduled maintenance.” The post New Zealand exchange reports ‘significant losses’ following estimated $3M hack appeared first on The Block.

13 hours ago

Crypto as a way of learning financial markets

Participation in crypto is exceptionally speculative, risky and unregulated. Nothing written is financial, trading or investment advice. Proceed at your own risk. Always consult a licensed professional before making any decisions. Many outsiders view traditional financial markets as complicated. Just hearing about financial markets can give average guys and gals a headache from complicated terminology, numbers and data. Dividends, earnings and shorts (not the wearable kind) all sound like gibberish to beginners. Cryptocurrency markets and traditional markets may seem equally challenging to understand. With the right point of view, however, crypto markets might actually be an avenue for financial market interest. It’s complicated Equities, bonds and commodities are three examples of tradable assets in traditional finance (these are called securities). Along with these three securities comes the ability to buy and sell. Although, buying and selling bring further complexity. For example, a trader can buy or sell options or futures on those three securities. Success is also difficult because of the high barrier of entry. Trading and investing in traditional securities is extremely competitive. According to a study referenced by Tradesociety.com, “[p]rofitable day traders make up a small proportion of all traders - 1.6% in the average year. However, these day traders are very active - accounting for 12% of all day trading activity.” Traditional market involvement means going up against professionals with decades of experience. They know the terms, they’ve studied the graphs and they are looking to make consistent gains. Trading and investing is a zero-sum game. There must be winners and losers. Additionally, trading fees can get expensive. For example, TD Ameritrade charges $6.95 per online trade. That means $6.95 to buy and then $6.95 to sell. For someone looking to learn about the markets and make small trades with $50-100 total, those trading fees would likely lead to a rapid loss of capital. (Crypto trading takes a percentage trading fee instead, which makes trading small accounts possible - more on that below.) Robinhood is an app offering free trading. Overall, Robinhood may be a viable option for beginners looking to get their feet wet. Although, very few things in life are free. According to one Seeking Alpha article, Robinhood appears “to be selling their customers’ orders for over ten times as much as other brokers who engage in the practice. It’s a conflict of interest and is bad for you as a customer.” It may be a good idea for new traders and investors to learn via paper trading (using a simulated account). A whole new level of psychological learning becomes present, however, when actual money is on the line. That’s why starting with a small amount of money might be a good idea for beginners. But crypto is also confusing Crypto is often confusing to the average person, so learning two new concepts, trading and cryptocurrency, seems like double the work. Currently, if mainstream adoption ever occurs, cryptocurrency needs to be simplified and taught to the public. Learning how to safely store crypto funds is complicated for beginners because it’s different than common money storage methods. Traders and investors holding crypto often use physical or digital storage devices called wallets. Sending funds to a seemingly random string of keyboard characters (aka - a crypto wallet address) can be difficult to grasp initially. Even the process of getting funds onto an exchange like Binance can be confusing. An example of the process could include buying bitcoin on Coinbase, a popular exchange, and then sending that bitcoin to a wallet on the Binance exchange. The person could then use that bitcoin to buy or trade other altcoins. Crypto: less confusing? Here’s a very enticing thing about crypto - it’s only been around for about ten years. Jumping into crypto at this stage means only competing against about ten years of experience. Crypto trading, on a core level, is similar to traditional markets in psychology, process and methodology. Although, it is also different. Market cycles can be faster, swings can be larger and the number of professional traders in the space might still be less than that of traditional finance. Taking into account the current U.S. traditional financial bull market, Barrons.com stated that “[t]he huge run-up in stock prices has brought the total market capitalization of the Russell 3000 Index—which covers 98.5% of the country’s market capitalization—to $30 trillion, a ‘staggering’ amount of money, according to a recent report from Bespoke Investment Group.” Cryptocurrency currently only has a total market cap of about $123 billion, according to CoinMarketCap. Involvement in crypto now could mean getting in on the ground floor of something with significant potential where the barrier of entry is still somewhat low. When starting in crypto, there is also no concept of dividends or earn

13 hours ago

$100k in funds returned after ETC hack

A hacker recently returned $100,000 to the Gate.io exchange. The hacker allegedly gained control of the funds as part of last week’s ethereum classic (ETC) 51% attack. According to Gate.io Exchange’s recent tweet and associated report on the matter, the hacker gave $100,000 in ETC back to Gate.io on January 10. The recent ETC 51% hacker has returned $100k worth of ETC back to https://t.co/8kWqgDWNXb on the 10th of January. We have raised the ETC confirmation number to 4000 and launched a strict 51% detection for enhanced protection. See details: https://t.co/xX8cVIWdC2 pic.twitter.com/MUQX3hpMPV — gate.io Exchange (@gate_io) January 12, 2019 Gate.io reached out to the individual, looking to find reasoning behind the situation. Motives for the event, however, still remain under speculation. The report mentioned the hacker could simply have partaken in the hack to expose security uncertainties regarding hash power and blockchain consensus. Under this reasoning, the hacker would fit the bill for Techopedia’s definition of a white hat hacker. A white hat hacker is a computer security specialist who breaks into protected systems and networks to test and asses their security. White hat hackers use their skills to improve security by exposing vulnerabilities before malicious hackers (known as black hat hackers) can detect and exploit them.” Gate.io also explained further 51% attacks on ETC are still possible given the current situation. “Gate.io has raised the ETC confirmation number to 4000 and launched a strict 51% detect for enhanced protection,” the exchange stated in its report. Coinbase warned customers of the ETC hack last week, according to Coinbase’ research findings. The hack included deep chain reorganizations that led to a double spend loophole. Referencing Gate.io Exchange’s blog post from January 9, a Finance Magnates report mentioned the ETC attack resulted in $271,500 stolen specifically from Gate.io Exchange wallets via ETC. According to these numbers from Gate.io, $171,500 in ETC might still be unaccounted for. A recent article from Finder revealed the total number of funds stolen from the whole ETC ordeal could be upwards of $1.1 million in ETC. Finder also mentioned strange ETC block reward activity over the past day or so with skyrocketing transaction fees. According to yesterday afternoon’s TrustNodes article, “ETC miners are now receiving as much as 200 per block rather than the usual 4 ETC per block.” Referencing mining pool irregularities, transaction fees and other activities, Finder posed an interesting theory on the situation. “This is just a hypothetical theory, not an accusation, but it looks like the ETC stolen in the 51% attack is being laundered through elevated transaction fees and the 2miners pool,” Finder posited in the article. The mentioned article also explained much further detail behind the theory. A tweet yesterday also showed abnormal transaction levels regarding ETC. Ethereum Classic $ETC processing daily transactions near record highs at 90k https://t.co/GBSl50DTML pic.twitter.com/R3ZVdLr4uu — Classic is Coming (@ClassicIsComing) January 14, 2019 Today saw ETC increase in price, from $4.24 to $4.25, via CoinMarketCap data at the time of writing. Although bitcoin also rose notably in price today, up by almost $200. The post $100k in funds returned after ETC hack appeared first on Crypto Insider.

13 hours ago

Crypto Market Watch: Ethereum (ETH) Maintains Bullish Ground Ahead Of The Constantinople Hard Fork

In the last couple of hours, Ethereum prices have responded exactly how many were expecting it to respond. Ethereum’s Constantinople Hard Fork is now hours away and the optimism of its success on the network is now boosting Ethereum prices. At the time of press, Ethereum has surged by over 8%, trading for $129. The last couple of hours have seen Ethereum surge from $118 to over $128. Although Ethereum has been the highest gainer among the top cryptocurrencies, several other coins have also broken key resistance levels. For bitcoin, the last couple of hours have seen the coin surge above the $3,700 position. At the time of press, bitcoin is up by 3% and ranging $3677-$3,700. Bitcoin’s surge is evidence that the market is still very volatile despite popular belief that this would be the year it gunner’s maturity. Via Coin360.com The last couple of days have seen the market take a nasty decline that has shaken a lot of investor’s faith. The decline saw the market wipe off gains from over 2 weeks in a couple of days. It was around this time that it was reported that investors who had not been active between six months and more than two years had begun moving their cryptocurrencies. This was a clear sign of panic. This recent flash hike could well restore confidence among a few traders and see some stability set in on the market. If Ethereum’s upcoming Constantinople is successful this could also potentially see the wider market extend its rally. Even though Ethereum is at the time of writing this trading just below the $130 mark, the coin has been testing the $130 position but encountering resistance. The bulls are expected to continue with their resilience and fully capitalizing on the upcoming event. This is expected to pay off seeing prices near their all-time highs of 2019. At the beginning of the year, Ethereum hit a new year high of $156. The next couple of days should see the coin hit around $140 depending on the success of the upgrade. The developments around the market are expected to carry on through the week, with the real test coming as we get to the weekend. Towards the end of the week, the market has been struggling to stay green. Additionally, at this point, the results of Ethereum’s Constantinople hard fork will be clear. The post Crypto Market Watch: Ethereum (ETH) Maintains Bullish Ground Ahead Of The Constantinople Hard Fork appeared first on ZyCrypto.

13 hours ago

Leading Economist Touts Crypto To Relieve Hyperinflation

Dr. Doom might not be a fan, but some economists are coming around to the blockchain’s potential for cross-borders trades. Dr. Steve Hanke, a leading scholar in currency economics and hyperinflation, is spearheading an initiative to raise funds to benefit the people of Venezuela, which is now suffering from an annual inflation rate of over a million percent. Dubbed “Airdrop Venezuela,” the project seeks to raise $1M in charitable donations- in cryptocurrency. Proceeds will be distributed to 100,000 Venezuelans through AirTM, a digital wallet that links blockchain assets to real-world bank accounts. The project has already raised $160,000. Crypto Has “Great Promise” “Over the past five years, cryptocurrency has been plagued by scams, securities fraud, and magical thinking,” Professor Hanke noted in a press release, adding: “But, cryptocurrency holds great promise as a mechanism for the direct transfer of donations to impoverished people.” Some of this promise has already been realized over the past year, when charitable hodlers gave sizeable peer-to-peer donations of cryptocurrencies to needy Venezuelan families. Due to the nature of blockchain transactions - which have minimal fees and do not require official permission - cryptocurrency users could make donations directly to the beneficiaries, without intermediaries or middlemen. But those beneficiaries still faced the challenge of spending their crypto, a difficult prospect in a market where merchant adoption is still minimal. By linking blockchain assets to real-world bank accounts, AirTM says it can breach one of adoption’s biggest barriers. At present, AirTM claims over 400,000 users, although it’s not clear how many Venezuelans have access to the service. But Hanke, who has also joined AirTM’s Board of Directors, is optimistic about its chances. “Indeed,” the economist says, “Airdrop Venezuela will demonstrate that cryptocurrencies can be transformed via free-market peer-to-peer exchanges into useful money-real money to buy real things.” Crypto “Cannot Be Stopped” By Authoritarians But crypto’s advantages aren’t just limited to cheap transactions, and the economist emphasizes that censorship-resistance provides a large advantage over fiat in countries where local authorities do not always have public interest at heart. “One promising use for cryptocurrency is to move value across borders in a way that cannot be stopped by authoritarian regimes,” Hanke noted. “For the millions of people in Venezuela whose lives have been destroyed by hyperinflation, direct cryptocurrency donations will be a lifesaver.” The new initiative could burnish the credibility of the AirTM project, as well as of cryptocurrency at large. A Professor of Applied Economics at The Johns Hopkins University, Hanke is a leading specialist on hyperinflation, and served on President Reagan’s Council of Economic Advisers. In the past, Hanke has helped several national governments develop anti-hyperinflation policies, including a role in Venezuela as chief adviser to President Rafael Caldera. Hanke’s name still bears weight in the country, through the eponymous Instituto Hanke de Economia Aplicada, based in Caracas. The author has investments in digital assets, but none mentioned in this article. Join the conversation on Telegram and Twitter! The post Leading Economist Touts Crypto To Relieve Hyperinflation appeared first on Crypto Briefing.

13 hours ago

Blockchain Under Threat in China, Govt. Enforcing “New Regulations on Blockchain Management’ From February 15

Chinese media reports that last year, netizens in China have used Blockchain technology to record the ‘open rape letter of North university student’ as the evidence (which had happened 20 years ago). So to preserve the national security and public interest, Chinese officials on Jan 10, 2019, have released ‘new regulations on the management of blockchain technology’ which will come into effect from February 15, 2019. Blockchain seen as a threat by China A note from the official announcement said; The Regulations on the Management of Blockchain Information Services has been reviewed and approved by the Office of the Internet Information Office of the State Council and is hereby promulgated and will be implemented as of February 15, 2019. Since any record or transactions entered via blockchain cannot be altered, officials reviewed that people in China are employing blockchain to spread the illegal information. As such, they’re exploiting the public interest. With this in consideration, China’s National Internet Information is stepping up with new frameworks for blockchain application within the country. Consequently, the new regulations will be enforced from Feb 15 and any person violating the rules will be punishable by fines or prison. These regulations impose responsibilities on the ‘main body’ that help operate blockchain technology or the platform providing blockchain services. The registrations of new service launch have to be made with the ‘the Cyberspace Administration within 10 days’. In case of changing the service, it has to be informed to administrations within 5 days. Lastly, if a service provider intends to stop blockchain service, they’ve to report to the authorities within 30 before the termination of such service. Note: The violation of any rules would result in blockchain operators to pay at least 30,000 yuan ($4450) or responsible for the crime (as per the law). Regulations on the Management of Blockchain in China Chinese regulators have been scrutinizing the ‘crypto-related matters’, forming the effective frameworks since quite long. However, the draft of latest blockchain management release came into light first in October last year but the version released on Jan. 10 seems the final report. Accordingly, the blockchain service providers of China have to register with their information, including ‘company’s organization code, company’s name, type of the service, application area, server IP address and the ID proof of their legal representatives. The official announcement reads it as follows; The new regulations stipulate responsibility for the main body of the blockchain information service provider, including formulating platform conventions and management rules; implementing the real identity information authentication system; and not using blockchain information services to engage in activities prohibited by laws and administrative regulations or to produce, copy, and publish And disseminate the information content prohibited by laws and administrative regulations; the violators shall take measures to deal with them according to law, and the criminals shall also be investigated for criminal responsibility. What do you think of China’s latest regulation on restricting blockchain? Share your thoughts. The post Blockchain Under Threat in China, Govt. Enforcing “New Regulations on Blockchain Management’ From February 15 appeared first on Coingape.

13 hours ago

Here’s Why Bitcoin Price Swings to $3,700 & Crypto Market Turns Green

Bitcoin and altcoins are seeing the greens between 2 to 5 percent range with Ethereum surging over 8 percent. The market turned green as Bakkt announced its first acquisition declaring they are not sitting idle while awaiting regulatory approval from CFTC. Meanwhile, Vontobel, a Swiss multi-billion dollar bank announced its entry into the crypto industry via custody services. Bitcoin & Altcoins Turn Green AT the time of writing, Bitcoin has been trading at $3,700 according to Coinmarketcap data with over 3 percent gains in the past 24-hours. The leading cryptocurrency is managing the daily trading volume of $5.5 billion. Source: Coinmarketcap Currently, the entire crypto market is seeing greens in tandem with Bitcoin as total market cap goes to $123 billion. About the surge in altcoins’ price, Joshua Frank, the co-founder of crypto analytics platform TheTIE.io stated, “Interestingly, we saw that the sentiment of four of the five other largest cryptocurrencies: XRP, Ethereum, Bitcoin Cash, and EOS moved positive prior to the jump this morning. In the case of Bitcoin sentiment was actually pretty negative during the increase.” Source: Coinmarketcap Technical Analysis Favours the Greens Apart from Bakkt and Vontobel, the technical analysis also supports the price rise as Mati Greenspan, the senior analyst at eToro shared, “The support area between $3,000 and $3,500 is holding, just as we’ve been discussing these last few months.” According to Jon Pearlstone, publisher of CryptoPatterns newsletter, though Bitcoin struggled with $3,500 on the weekend, it rose above this level on “solid volume” which he said showed “a successful retest of key support.” It could lead the cryptocurrency to “test higher resistance levels at $4000 and above,” he stated. Bakkt Acquisition & Multi-Billion Dollar-Swiss Bank’s Entry into Crypto The greens entered the market as Bakkt announced its first acquisition of “Rosenthal Collins Group (RCG), an independent futures commission merchant with nearly 100 years of earning clients’ trust.” This acquisition is to expand its risk management, compliance, and treasury operations. According to Kelly Loeffler, this ensures that, “We’re not standing still as we await regulatory approval by the CFTC for the launch of regulated trading in our crypto markets.” Moreover, Vontobel, a Swiss multi-billion dollar bank officially announced its entry into the crypto custody business. Roger Studer, the Head of Vontobel Investment Banking stated, “Digital Asset Vault represents the logical next step in the development of our range of services for digital assets. With our innovative strength and experience, we have thus closed the gap between existing and digital assets. By incorporating digital assets into our own banking infrastructure, we have also become the first provider to already meet the high standards required by financial intermediaries and their regulators.” The post Here’s Why Bitcoin Price Swings to $3,700 & Crypto Market Turns Green appeared first on Coingape.

13 hours ago

Denmark Tax Agency Investigating Country’s Crypto Trading Volume

Denmark’s Task Agency will soon have wider coverage of country’s cryptocurrency trading data. An official release disclosed that the Tax Council have permitted ‘Skattestyrelsen (SKAT), the Tax Agency of Denmark’ to obtain information on Bitcoin and other crypto trading data ‘for the period 2016-2018. Danish Bitcoin Traders Under Tax-Campaign Skattestyrelsen (SKAT), country’s tax agency is targeting three cryptocurrency exchanges of Denmark to collect information on customer’s cryptocurrency trading between Jan 01, 2016 to Dec 31, 2018. Accordingly, they’re in contract with respective exchanges to precede the matter. Besides their trading activities, crypto exchanges are expected to provide other key information of customers to the tax agency such as their names, addresses, CPR numbers, CVR information. By doing so, the Tax agency is expecting to assess the right taxpaying status of customers. Moreover, the statement reads that foreign customers whose crypto transaction details are available at Danish cryptocurrency exchanges will be exchanging with their respective country’s authority. Karin Bergen, tax director of the agency said that; With the permission of the Danish Tax Council, we will for the first time gain access to the trades made via the Danish stock exchanges. This gives us completely new opportunities in relation to control in the area Further, Karin is exciting with the wider scope of cryptocurrency market, she continuing that; Without going too far, I think you can say that this is a big market that we need to look into. Regulators across various countries are closely looking into tax assessment on crypto trading and as such by obtaining permission from Tax council, Denmark’s Tax Agency for the first time will ensure whether ‘citizens who have traded cryptocurrency paid the right tax’. Back in March 2014, Denmark’s top tax authority has decided that ‘no profit on cryptocurrency tradings’ will be counted for tax. Accordingly, the authorities have discussed ‘Bitcoin gains are exempted from getting taxed by the Danish government’. And then back in late December 2018, Skattestyrelsen (SKAT) come into the light ‘by investigating 2700 Danes who were secretly trading Bitcoin at a Finnish crypto exchange ‘. Meantime, it has also revealed by ‘Payam Samarghandi who is a lawyer and Bitcoin expert in Denmark that the Tax authorities are considering ‘Bitcoin as a taxable asset’. What do you think of tax calculations on cryptocurrency trading? What’s your stake on Denmark’s initiatives? The post Denmark Tax Agency Investigating Country’s Crypto Trading Volume appeared first on Coingape.

13 hours ago

TradeStation Plans To Launch a Cryptocurrency Trading Platform and Brokerage in 2019

Monex Group Company TradeStation Group Inc. will be moving into the cryptocurrency sector this year via a recently created subsidiary called TradeStation Crypto, Inc. The final details of the company’s new product offering will be released later this year, but they have highlighted their intention of creating an online crypto brokerage service. TradeStation are Leaders in Online Trading Available later this year, the company is planning to open an online brokerage service designed for crypto investors and traders. It will leverage TradeStation’s extensive experience as leaders in the securities and futures brokerage sector to address the problems currently faced in the crypto ecosystem. It has also created a ‘waitlist’ where traders can sign themselves up and stay updated on the latest developments of TradeStation Crypto. John Bartleman, TradeStation Group president, noted: “We believe investors and traders are seeking ways to access and trade cryptocurrency products similar to the way they trade traditional capital markets - and through a trusted and familiar brand and company.” He further added: “Our focus will be to provide the tools and services that serious traders require to trade across multiple asset classes, including crypto. TradeStation Crypto’s product offering should be a major leap forward in our ability to offer customers access to the next generation of assets for active trading under the TradeStation brand.” Aggressive Push into Crypto With the launch of TradeStation Crypto, the Group is taking another step in its aggressive crypto expansion plan. The group’s expansion into cryptos started when TradeStation Securities Inc. became one of the first online brokers to support real-time market data for Bitcoin indices which were sourced from CME Group and Cboe Global Markets. TradeStation also offered support for order execution and market data when Cboe Futures and CME launched their Bitcoin futures contracts. The group was also one of the first to offer clients real-time market data for Bitcoin, Ethereum, Litecoin and Bitcoin Cash, which it did via its trading analysis platform. TradeStation Crypto will be sponsoring The North American Bitcoin Conference, set to be held at the James L. Knight Center in Miami between January 16 and 18. The event describes itself as “the most important blockchain conference of the year.” TradeStation Plans To Launch a Cryptocurrency Trading Platform and Brokerage in 2019 was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

13 hours ago

“AirdropVenezuela” Recruits Steve Hank as Ally in Plan for Poverty-Stricken Nation

Hyperinflation expert Steve Hanke has teamed up with a Mexico City-based blockchain powered currency platform in order to get financial aid to Venezuelans. Hanke, also a professor of applied economics at Johns Hopkins University, and AirTM, will work together on project “AirdropVenezuela”, which hopes to raise cryptocurrency donations up to USD1 million. Once raised, the funds will then be released to 100,000 Venezuelans via the AirTM platform. This #GivingTuesday, AirTM launches Airdrop Venezuela - a campaign to raise USD $1MM for 100,000 ID-verified Venezuelans. 100% of the proceeds will go directly towards recipients' wallets. Learn how you can contribute: https://t.co/MIezPXos8J pic.twitter.com/Fuye8LZaCV — Airtm Inc (@AirtmInc) November 27, 2018 The annualized inflation rate hit a record high of 117,681% this month as Venezuela’s ongoing economic downturn continues to render the country’s currency, the bolivar, almost worthless. President Maduro continues to refuse to peg the bolivar to the US dollar, which has been cited as a possible solution, while the alternative cryptocurrency Petro is rarely available and little used. Also, President Trump signed an executive order in March 2018 which particularly targets Petro for sanctions. Along with Trump, many US lawmakers have also denounced the currency and passed bills to restrict its use. Hank outlined his plains for an airdrop solution: “We provide in effect a clearinghouse that allows for the exchange of bolivars for dollars and vice versa... This is also much superior to distributing physical cash because you don’t have to run the risk of driving your armored truck into the country.” Not only are armored cash-delivery vehicles at risk of hijacking, but most stores are empty of provisions due to the worthlessness of the Bolivar. Free trading is highly government controlled and the government shuns private foreign exchange dealing. Hanke maintains that a sum of USD 1 million would open up the doors to Venezuela, prompting nationals to begin to use the US dollar for everyday transactions, thus helping to re-stabilize the struggling economy. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post “AirdropVenezuela” Recruits Steve Hank as Ally in Plan for Poverty-Stricken Nation appeared first on BitcoinNews.com.

13 hours ago

China Pours Billions into Latin America Blockchain, Tech

Talk about the tech landscape in Latin America and the first thought that springs into mind are the flashy startups and enterprises from New York and the Silicon Valley. So, whenever China is hailed as the key player in South American markets, and that too in cryptocurrency, it seems unusual and even a tad bit surprising. Irrespective of what the naysayers think, the Chinese stronghold in the South American markets is nothing short of a living, breathing, and rather booming reality. This has ironically been helped by the fact that the Chinese government has placed strict bans on cryptocurrency enterprises to operate within the country. The plethora of Chinese millionaires interested in cryptocurrency investment have found a workaround this ban, and that currently appears to be through an investment in the vastly untapped South American markets. Case in point is the latest New-York City-based startup, Moeda, which has devised an infrastructure to allow micro-lending for the unbanked population in emerging markets via a cryptocurrency named MDA. The operations have helped new businesses boom in Brazil, where microloans have been offered to women-owned enterprises on a 15% interest rate, in comparison with whopping rates of up to 120% in the earlier years, mainly financed by young Chinese investors. The business model has been so successful that it has attracted up to 841 investors. In August, the company reported funds of up to $20 million over two weeks, from which they allocated $10 million to the microlending projects. The loans have been distributed among 18 companies thus far where a $55,000 loan to Hope Valley, a 10-year-old pumpkin and yucca farm and food processing company in Formosa, Brazil has helped them in paying for a new irrigation system and food processing equipment. This has consequently led to yields five times than before, and the contracts to public schools have also boomed from 30 to 90. What is the key difference that made this dramatic influx of Chinese crypto wealth possible? Besides the political reasons mentioned above, for social venture investors, the key problem was the deficit in trust and the uncertainty behind the proper allocation of their money. With Moeda’s blockchain technology, the open ledger system provides financial transparency like never before, as the investors can easily track investments and the money trail cannot be tampered or erased. Apart from social entrepreneurship, other cryptocurrency companies are also rushing in to cash on the booming tech Latin American market. For instance, Huobi, a leading Chinese crypto-currencies broker, has recently announced the establishment of their operations in Brazil, which certainly means a massive influx of further Chinese investment into the market. Chinese investors, in general, have been shakers and movers in the region for over a decade now. For instance, according to a 2018 report by the Economic Commission for Latin America and the Caribbean, China has poured in over USD 90 billion in the region between 2005 and 2016 and has provided the much-needed impetus to fuel the Latin America’s tech boom. According to stats in 2015, the Chinese government revealed a decade-long plan to increase trade with Latin America to USD500 billion while investing USD 250 billion. Another study by the United Nations Economic Commission for Latin America and the Caribbean (CEPAL) revealed that Chinese investors make up a mind-boggling 42% of the total investment contribution in the region. The critical factor behind the success of this alliance is the stark similarities of the current tech landscape in Latin America and the situation on China ten years ago. The sudden, mass-adoption of smartphones in Mexico and Chile is akin to the 1 billion inflow of Chinese users to mobile internet a decade ago. Apart from the crypto technologies, the smartphone revolution has also brought in a range of other startups that range from online marketplaces for groceries, food delivery, bike rentals, mobile taxis, and everything in between. Considering how China itself underwent the rigors of a developing economy experiencing tech-based growth on a staggering pace along with the endless possibilities that crypto technology provides. The very potent alliance between the economic world leader and the next probable tech powerhouse is indeed ripe to bear fruits for decades to come. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: The post China Pours Billions into Latin America Blockchain, Tech appeared first on BitcoinNews.com.

13 hours ago

Bittrex Launches Over-the-Counter Trading Platform for Bitcoin, Crypto

Major cryptocurrency exchange Bittrex will launch an over-the-counter (OTC) trading desk today, January 14, 2018, by 18:00 UTC. The service will allow investors to trade nearly 200 digital assets currently offered on the Bittrex trading platform.OTC trading is popular with institutional investors who trade in large volumes of cryptocurrencies. This form of crypto trading happens between two parties, and it takes place away from the exchanges. OTC trades are often handled via brokers, who offer high-volume traders a trading desk to execute large trades with a faster settlement and lower fees.Bittrex will offer users “guaranteed pricing” for large block trades starting at $250,000 or more.In a statement released to the media, Bittrex CEO Bill Shihara said the OTC service would “further advance the adoption of blockchain technology worldwide,” while providing high volume traders with much needed “price certainty and a fast and easy way to trade large blocks of digital assets.”Having opened an international trading platform for non-U.S. traders in October 2018, Bittrex is poised to serve large-scale traders with its OTC trading desk. The exchange follows in the footsteps of other U.S.-based digital asset platforms, who have an OTC trading desk dedicated to large volume traders. This list includes Coinbase, Bitfinex and Poloniex.Coinbase launched its over-the-counter crypto trading desk in November 2018, but the service is only accessible to Coinbase Prime customers. Coinbase head of sales Christine Sandler noted that the service would allow the exchange's clients to “leverage both our exchange and our OTC business.” She also speculated about the future integration of the OTC service with Coinbase Custody.Earlier this month, cryptocurrency finance firm Circle said it executed 10,000 OTC trades in 2018, accumulating $24 billion in notional volume, per a Medium post."At the other end of the spectrum, our OTC trading business, Circle Trade, has continued to expand despite a tumultuous year for the industry: we onboarded a record number of new institutional clients." This article originally appeared on Bitcoin Magazine.

13 hours ago

Denmark’s Tax Agency to Collect Information About Bitcoin Traders

Danish tax authorities will soon be going after cryptocurrency traders in the country and beyond. The plan is to collect data from local bitcoin exchanges in order to verify if citizens who have traded digital assets have paid the right taxes. Information about foreign citizens and entities will be shared with other countries. Also read: 5 Crypto Exchanges Have Been Licensed in Gibraltar Since Regulation Tax Agency Authorized to Gather Data From Three Danish Exchanges Skattestyrelsen, the Danish Tax Agency, announced it has been authorized by the country’s Tax Council, Skatterådet, to obtain information about cryptocurrency trade conducted on three Danish exchanges between Jan. 1, 2016 and Dec. 31, 2018. The authority noted that it’s the first time it will access this kind of data. Karin Bergen, the agency’s director responsible for personal income tax collection, said: With the permission of the Danish Tax Council, we will for the first time gain access to the trades made via Danish exchanges. This gives us new opportunities with respect to exerting control in the field. The three platforms must now provide information about all purchases and sales of cryptocurrency made by their customers during the two-year period. They will be obliged to include identification information such as names, addresses, and CPR numbers, the personal ID numbers issued by the Danish Civil Registration System. The decision to permit the Danish Tax Agency to collect the data was taken at the last meeting of the Tax Council in December. It followed news that the agency has been informed by Finland’s tax authorities about Danish citizens trading cryptocurrencies on a Finnish bitcoin exchange. The Danish tax body also plans to share information about crypto transactions made by foreign citizens and companies in Denmark with tax authorities in the respective countries. Big Market That Needs to Be Looked Into Skattestyrelsen is now contacting the Danish crypto exchanges in order to establish a procedure for the disclosure of the information. Once the data is received, the Tax Agency will ensure that citizens who have traded cryptocurrency have paid their taxes. Bergen further commented: Without going too far, I think one can say this is a big market that we need to look into. When we recently received information from the Finnish bitcoin exchange, it gave us a small portion of the larger picture, which we now have the opportunity to uncover even more of. However, it’s still too early to tell how many traders are out there and how much money has been traded. The Danish tax authority will adjust the tax base for each trader before the summer. Every case will be reviewed and treated individually to determine whether a cryptocurrency trade is part of the taxable income. In December, the Tax Agency was tipped off by Finnish tax authorities about around 2,700 Danes trading on a cryptocurrency exchange based in Finland. According to the official estimate, the Danish citizens have traded coins worth more than 100 million krones (~$15 million) between 2015 and 2017. Last month, the authority quoted a survey conducted by the National Tax Board which found that 450,000 Danes are considering shopping with cryptocurrency. The agency launched a campaign to inform taxpayers about their obligations but also the deductions they are entitled to. What do you think about Danish tax authorities collecting information from crypto exchanges? Share your thoughts on the subject of crypto taxation in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Denmark’s Tax Agency to Collect Information About Bitcoin Traders appeared first on Bitcoin News.

13 hours ago

Bulgarian Tax Authority to Inspect Crypto Exchanges and Traders

The National Revenue Agency of Bulgaria is preparing to conduct inspections on cryptocurrency trading platforms and their customers. The authority wants to make sure that both are fulfilling their obligations under the country’s tax and social security laws. Also read: Denmark’s Tax Agency to Collect Information About Bitcoin Traders Nine Crypto Companies Subjected to ‘Control Actions’ The tax service plans to investigate companies that have declared the trading of digital assets as their core business activity, Bulgarian media reported quoting an official announcement. It also wants to find out more about how these platforms operate. The main concern is that the transactions related to the exchange of virtual currencies are anonymous. This, according to the regulator, comes with risks of revenue concealment and tax evasion. The National Revenue Agency (NRA) has already conducted a study of the Bulgarian entities working in the sector. The tax authority said it has assigned “control actions” in regards to nine companies. Crypto Income Must Be Reported on Tax Returns Once the checks are completed, tax officials will analyze the data gathered for the users of these platforms. The main task is to determine whether these taxpayers have reported their income from cryptocurrency transactions. In Bulgaria, profits from crypto trading are treated as income from the sale of financial assets. Private individuals are expected to declare these revenues on their annual tax returns. A flat income tax rate of 10 percent is applied to the positive balance from these transactions in fiat currency. Profits earned by businesses are subject to taxation under the Corporate Income Tax Act, with the same tax rate. Bulgarian residents are obliged to file their tax declarations and pay their taxes for the previous year by April 30. Annual corporate tax returns should be submitted by March 31, 2019. Awaiting European Regulations Bulgaria has not yet adopted a dedicated legislation on the taxation of income from crypto-related activities such as trading and mining. The applicable rules are based on a clarification notice issued by the NRA several years ago. Currently, digital coins are taxed like other financial instruments and Bulgarian authorities reference the general EU regulations and the European practice in the field. However, the treatment of cryptocurrency profits varies significantly between EU member states. Tax rates can be anywhere between 0 and 50 percent. Interpretations regarding the legal status of digital assets are also quite diverse. Cryptocurrencies and the industry built around them remain largely unregulated in most EU countries. Recognizing that as a major problem, many officials have urged for unified rules across the European Union. Two regulatory agencies recently called for the adoption of common EU regulations. European regulation may be needed to level the playing field, the European Banking Authority (EBA) said in a report. EBA advised the European Commission to conduct a comprehensive analysis and determine what action is required at the EU level to address the issues regarding the opportunities and risks presented by cryptocurrencies and related technologies. In another report to the Commission, the Council and the Euro Parliament, the European Securities and Markets Authority (ESMA) stated that crypto assets need an EU-wide approach to ensure investor protection. What do you think about the actions of Bulgarian tax authorities regarding cryptocurrency exchanges and traders? Share your thoughts on crypto taxation in the comments section below. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post Bulgarian Tax Authority to Inspect Crypto Exchanges and Traders appeared first on Bitcoin News.

13 hours ago

Crypto Impersonation Scammers on Social Media Raked in Millions in 2018

Over the last two years, as cryptocurrencies gained mainstream attention, scammers have become far more prevalent. One particular social media scam that can be found on prominent websites like Twitter, Facebook and Instagram is the impersonation of well-known crypto industry executives and blockchain luminaries. Unfortunately even a verified account means nothing these days and these giant corporations have allowed fraudulent acts to flourish giving criminals the opportunity to rake in millions. Also read: Analysis: Using Technical Indicators to Trade Crypto in 2019 Rampant Crypto Impersonation Continues to Plague Social Media Channels We’ve heard all about the milestones in 2018 and all the crazy cryptocurrency market action but one thing that happened and pulled in record revenues last year was social media impersonation. Miscreants were allowed to flourish in great number, creating phony Twitter, Instagram, and Facebook profiles. They have copied profiles such as Vitalik Buterin, John McAfee, Elon Musk, Barry Silbert, Erik Voorhees, and many more. They have even cloned businesses such as the Binance Exchange, and other major cryptocurrency infrastructure providers. A fake Elon Musk account scamming Twitter users for ETH on a Donald Trump tweet. Notice that another phony Elon account had liked the tweet and a fake Vitalik profile as well. The swindlers usually present a “giveaway promotion” asking a user to send 1 ETH in return for 10 ETH but these addresses never see any outgoing transmissions. Other copycat chisellers actually pretend they are well-known individuals and message people directly asking for money in exchange for phony services. All of the major social media platforms have been riddled with impersonation scammers and even when provided with evidence of wrongdoing and proof of a verified account these corporations have yet to produce results. A phony John McAfee profile scamming for ETH on Twitter. Last February, social media cryptocurrency community member impersonators were making $5,000 a night in ethereum on Twitter. By the summer of 2018, it was recorded that millions of dollars worth of digital assets were taken from impersonation scams. On June 9 John Backus reported that 468 known scammer addresses collected 8,148 ETH which was worth $4.9 million at the time. Vitalik Buterin begs the cryptocurrency community not to trust impersonators. One particular person sent $18,000 to a fake Erik Voorhees account. Even the Maltese Prime Minister was impersonated by scam peddlers last August. Lots of Good Samaritan crypto users have flagged some of the known addresses with a message that says “Fake Phishing.” The CEO of Bitcoin.com and other members of the company (including the author of this post) have been impersonated by scammers on social media platforms like Instagram, Twitter, and Facebook. Bitcoin.com’s CEO Roger Ver shares a list of copy cat impersonators who fraudulently use his name and profile pictures still to this day. Verified Accounts and Evidence Does Nothing As Fraudulent Twitter, Facebook and Instagram Profiles Continue to Scam for Millions After submitting screenshots of these malicious scoundrels in action and even sending in identification, these companies still do not delete these accounts. Last summer I had submitted daily complaints to Twitter concerning impersonators and evidence of the wrongdoing and all the platform did was send an auto-response. Even though Twitter CEO Jack Dorsey (a Bitcoin supporter and Lightning Network investor) promised to get rid of these scams they haven’t stopped and impersonation is still rampant on the social media platform. In fact, it takes weeks and help from multiple friends reporting these impersonators or otherwise, the social media giants will do nothing. Even at the end of 2018, after Twitter CEO promised users the platform would crack down on these accounts, they continued to be prevalent. Wired columnist Nicole Kobie explained the situation in great detail on Nov. 17 stating: Verified Twitter accounts - including Google’s G-Suite and Matalan - are getting hacked and pretending to be Elon Musk. The bitcoin scams are making thousands but why can’t Twitter do anything about them? Instead of dealing with obvious fraudulent activities, even when users verify their accounts, the social media giants have spent millions on annoying cosmetic updates, censoring and deplatforming right-wing pundits, and sold people’s profile data to firms like Cambridge Analytics. A portion of crypto investors lost significant sums of money after last year’s digital asset market volatility, and alternatively, copycat social media profiles did extremely well scamming people. What do you think about the fraudulent impersonation scams on social media platforms? Let us know what you think about this subject in the comments section below. Images via Shutterstock, Twitter, and Bitcoin.com’s CEO Roger Ver. Need to calculate your bitcoin holdings? Check o

13 hours ago

Why Major Bitcoin Exchange BitMEX Was Pressured to Cut Off US Users

Since BitMEX rocketed to the tip of the crypto market, hosting hundreds of millions of dollars worth of nominal Bitcoin (BTC) trades each and every day, the company has come under pressure from regulators. And while the Asian startup is mostly well-respected, with its chief executive, former stock trader Arthur Hayes, being very forthcoming and “buddy-buddy” with media outlets, some are afraid that a handful of pertinent issues lie beneath BitMEX’s cheery front. No one knows this better than America’s dozens, if not hundreds of crypto commentators, who have seen their accounts purged en-masse. Even Tone Vays, a leading analyst that has effectively dedicated his life to the Bitcoin craft, saw his accounts terminated “on suspicion of being a U.S. citizen.” Although Vays is an American national, he explained that his BitMEX referral kickback accounted for over half of his income and the loss of his account was a devastating hit. Yet, a recent exclusive report from an outlet situated in the region of BitMEX’s headquarters claims that these terminations are for good reason. Related Reading: BitMEX CEO: Bitcoin Still An Experiment, But Has A Bright Future SEC Purportedly Cracks Down On Leading Bitcoin Platform Hasu, an independent crypto researcher with thousands of followers, has long been a skeptic of BitMEX. In October, the researcher, masked by a pseudonym and cartoon profile picture, released a hit piece, which amounted to thousands of words, regarding the Seychelles-registered exchange. On Monday, the long-time Bitcoin proponent took to his Twitter page again to share an article from the South China Morning Post (SCMP), which divulged that the Hong Kong-headquartered firm has finally made moves to shutdown accounts from American and Quebecois users. Looks like BitMEX, which illegally served US customers until now (and probably still is), was recently forced by the SEC to shut down US accounts. According to sources close to the company, the US accounted for 15% of their total user base. https://t.co/Bn7hLWCZ9k — Hasu (@hasufl) January 15, 2019 The outlet claimed that BitMEX, which has quickly risen to both stardom and infamy in Hong Kong, has begun to shut down accounts from the aforementioned regions, as regulators attempt to curb supposedly unlicensed trading platforms. BitMEX’s shift in strategy, which comes after the firm de-facto allowed American consumers to access its platforms via VPNs, comes after it terminated service for clients in North Korea, Iran, Syria, Sudan, Crimea’s Sevastopol, and Cuba. Although the U.S. Securities and Exchange Commission (SEC) didn’t comment on this case, the Autorité des marchés financiers (AMF), Quebec’s independent financial regulator, spoke with the SCMP on a matter. A company spokesperson noted that in early-2018, it sent an official letter to BitMEX, claiming that the exchange didn’t have authority to operate in the Canadian province. The AMF’s director of media relations explained that BitMEX isn’t officially registered with the body, so its operations were deemed illegal. Those situated in Canada’s other provinces and territories haven’t been affected by this regulatory measure. As the SEC didn’t comment on the matter, it remains to be seen whether it has looked, commented, or acted on the BitMEX debacle, but many believe BitMEX isn’t on good terms with the American entity. Through the internet grapevine, however, it seems that some American traders still have access to the platform, indicating that BitMEX hasn’t been through with its account terminations. However, if historical events are any indicator, if BitMEX doesn’t have the proper documents to prove its legality, the SEC may fine or crack down the exchange in due time. In November, the SEC fined Zachary Coburn, the founder of decentralized Ethereum-based token exchange EtherDelta, for operating an unregistered securities exchange. During this case, Coburn saw a $388,000 cheque fly his way, in spite of EtherDelta’s relatively measly volumes. That means that if the SEC proceeds to look into BitMEX’s dealings, a multi-million fine could be in the cards. Yet, some believe that such action would be no worry for BitMEX, as Tom Lee of Fundstrat estimated that the Hong Kong company generated a profit of $1 billion during fiscal 2018. However, a company spokeswoman has begged to differ. In a statement conveyed to NewsBTC, it was explained that BitMEX has been “proactively closing” accounts for years since “guidance was obtained by U.S. regulators.” The statement also claimed that “BitMEX has always retained the right to close any accounts,” but only began to institute the use of “warning banners and pop-ups” at the end of 2018, resulting in a recent influx of media reports on the matter. BitMEX Under Spotlight From Cynics Regulatory uncertainty isn’t the only issue that Hasu sees with the platform, lauded (and hated) for its up-to 100x margin offering. In the aforementioned pseudo-hit piece, the analyst claimed t

13 hours ago

Following Tron BitTorrent Acquisition, Those Are The Lessons That Must Be Learnt For The Crypto Future

Recently, Simon Morris, a former employee of BitTorrent Inc released a fascinating 4-chapter Medium series about the history of BitTorrent and what lessons there may be for the world of Bitcoin and the ‘blockchain’ industry. In July 2018, BitTorrent Inc was acquired by the Chinese cryptocurrency organization TRON (or, more precisely, by Justin Yuchen Sun, TRON’s founder). For Morris, this event symbolized the end of an era which made him eventually to leave the organization. BitTorrent as a Decentralized Network To understand the BitTorrent revolution, one must first distinguish between 3 separate entities: The BitTorrent technology (protocol): The BitTorrent Protocol is a p2p file transfer protocol invented by Bram Cohen in 2001. It enables the distribution of large and popular files across the internet without the need for any unique BitTorrent Inc: BitTorrent INC is a private company located in San Fransisco; it was founded in 2004 by Bram Cohen and Ashwin Navin. The company is responsible both for the ongoing development of the BitTorrent protocol and for the two most popular pieces of client software: BitTorrent and uTorrent. The company doesn’t own the protocol, so any other software provider that would like to use it is welcome to do so. The BitTorrent Ecosystem Similar to Bitcoin, the BitTorrent Ecosystem is composed of people who use, develop, and exploit the BitTorrent protocol. There are some important roles, and each role is fulfilled by a large number of participants: Developers of client software like uTorrent that are implementing the BitTorrent technology in their software. Torrent Sites Operators: People who own and operate torrent sites which provide a catalog of files that can be shared via torrent client’s software. The ‘warez scene’:  people who collect and distribute media files to the Torrent network. Users: hundreds of millions of people who are using the torrent client software and the torrent sites to download media files. Morris explains the importance of BitTorrent with two central claims: BitTorrent succeeded in making the sharing of large files possible with only an internet connection and no need for any special The fact that the technology was accessible to everyone made it so popular that BitTorrent traffic was variously reported as consuming tens of percent and sometimes over 50% of all internet traffic! The open and decentralized architecture of both the technology and the community meant that it was impossible to shut down the BitTorrent eco-system. Other types of file-sharing software came and went, always toppled by some centralized pain point, but BitTorrent persisted. It was obvious to the regulators that shutting down one client software would make the user find another BitTorrent resource and the ecosystem would continue to flourish regardless. Breaking the Rules Next, Morris explained his philosophy about the point of decentralization. According to Morris decentralization needs to combine two qualities: Technical decentralization: no single point in the system that could be hacked, and which would shut down the entire network. Organizational decentralization: no single entity or organization that can switch off the network. Only by achieving those levels of decentralization could it genuinely allow the primary goal of decentralization, to break the rules. In other words, the real power of decentralization is the fact that it can de facto change and set up new reality and roles which weren’t acceptable to the centralized powers and law-enforcement agencies that controlled the eco-system before the emergence of the decentralized network. In BitTorrent, it happened by mistake. Bram didn’t mean to enable this type of rule-breaking. This capability resulted in large-scale copyrighted files sharing. Every new decentralized project must ask what rules does it break? If the answer is not satisfactory, the project path should be reconsidered. Without any or non-significant rule-breaking it is hard to imagine why blockchain technology even matters. Or as Morris describes: The general purpose public blockchains out there might best be understood as platforms for rule-breaking apps. According to Morris, so far there has only been one application which was exciting enough in the blockchain industry, and that was the funding raising application that mainly happened through ICOs. This allowed people all around the world to participate in fundraising rounds with almost no regulatory barriers. Regardless of the negative aspects of ICOs in 2018, one can’t disagree with the two following statements: The ICO boom happened in an ungoverned way and was wildly successful in raising billions of dollars to fund a broad range of projects; ICOs have now almost wholly stalled as a result of pressure from the SEC and other regulatory bodies around the world. Intent, Complexity, and the Governance Paradox In the next section Morris introduces three themes that relate to decentraliz

13 hours ago

Startup: Google Blacklisting ‘Ethereum’ As Ad Keyword

Cryptocurrency, Ethereum (ETH)-It appears that cryptocurrency has not fully turned on the corner on last year’s combined ban by Facebook, Twitter and Google. According to reports by auditing startup Decenter, Google has allegedly blacklisted the term ‘ethereum’ for its advertising platform Google ads. In a tweet published on Jan 10., the company accused Google Ads of imposing some bias towards the keyword Ethereum, stating “We are seeing a hard stop on Google Ads containing “Ethereum” as the keyword in the last two days. Is anyone else noticing the same change? Where [sic] there any new policy changes introduced @GoogleAds?” We are seeing a hard stop on Google Ads containing "Ethereum" as the keyword in the last two days. Is anyone else noticing the same change? Where there any new policy changes introduced @GoogleAds? #ethereum pic.twitter.com/P5XMGphdiV — Decenter (@DecenterTeam) January 10, 2019 The tweet included an accompanying image demonstrating what is presumed to be an attempt at using Ethereum for an ad word, with the reply message indicating that the term would not be permitted for key words. Google Ads, through their official Twitter account, responded to the inquiry by stating “Advertisers may promote cryptocurrency exchanges that target the United States and Japan. Hence, you may not be able to run ads which target other countries.” While the message indicates that would be advertisers should be able to use Ethereum in campaigns targeted towards U.S. and Japanese based customers, Decenter reports not being able to do either. The company replied to the Google Ad update, explaining their situation, We’re actually a developers team doing smart contract security audits so we’re seeing this error for keywords such as “ethereum security audits” and “ethereum development services”. Would you say that this is expected behaviour or can we fix it some way? Rather than handling the situation via Twitter, the official Google Ads account pointed Decenter to their webpage on cryptocurrency policies, leaving many investors and developers scratching their heads over whether ‘Ethereum’ and its derivatives has indeed been blacklisted by the search engine giant. Decenter continued the push for more information on the issue and clarification from Google Ads in an appeal through Reddit’s dedicated Ethereum board, asking users to open queries as to any policy changes that could have led to the sudden banning of the key word. In addition, Decenter posted an update stating that their previous ad campaigns feature “ethereum” have been removed, furthering the implication that there is some form of censorship going on, “Any of the keywords that contain “ethereum” in our campaigns are no longer showing ads as of January 9th and are now reporting the following error.” For comparison, Decenter reports that similar phrasing in ad campaigns that replace “ethereum” with “eos” such as “eos smart contract audits” are still available for use through Google Ads and being featured in campaigns. While it’s unclear how broadly the ban has been applied to cryptocurrency, or whether it extends to any coins outside of Ethereum, Reddit users and Ethereum enthusiasts have begun an uproar over the selective censorship. The top comment by user u/ThePlague lambasts Google for promoting an agenda, stating that the company has been far from neutral in handling various forms of advertising on its platform, including cryptocurrency, Google has various political and economic agendas, and they are quite willing to use their various services to promote their preferences. AdSense and Youtube are notorious for this, but there have been some incidents regarding the play store as well. Despite their supposed corporate “do no evil” motto, they are more than willing to use their considerable power to choose winners and losers in social, political, and economic matters. The post Startup: Google Blacklisting ‘Ethereum’ As Ad Keyword appeared first on Ethereum World News.

13 hours ago

Top Tron (TRX) DApp Sees Volume Surge — Overtakes Top Ethereum, EOS Apps

DApp TronBet Transacts Billions of TRX On Sunday, Tommy Mustache, a leading, self-proclaimed “crypto addict,” took to his well-followed Twitter platform to discuss a pertinent industry happening — the monumental run-up that a Tron-based decentralized application (DApp) underwent. The 24hr volume on TronBet today is 1.1B TRX or $25M.The 7 days vol. is $104M. None of the other DApps from EOS is even coming close in terms of transaction in dollars. EOS Dice has $8.1M in volume and it is their best performing DApps. Tronbet is the clear market leader. pic.twitter.com/eeak6q86gA — Tommy Mustache (@tommyp408) January 14, 2019 Mustache, citing data from DApp Radar, revealed that the 24-hour volume of TronBet, a gaming/gambling application based on the popular blockchain network, had posted staggering transactional throughput. In fact, Mustache noted that the application had transacted 1.1 billion TRX, valued at $25 million at the time of his tweet’s publishing, in the previous 24 hours. Explaining the importance of this statistic, the blockchain zealot noted that “none of the other DApps from EOS [and Ethereum] are even coming close in terms of transaction volumes (dollars).” Mustache specifically drew attention to EOS Dice, the project’s gambling application of similar caliber to TronBet, noting that the smart contract transacted a relatively mere $8.1 million. On Monday, the statistics were even more impressive for the gaming blockchain-based application, with DApp Radar claiming that 24-hour volumes have risen to 1.5 billion TRX ($38.7 million). The seven-day volume for the application has now risen to a staggering 5.3 billion TRX, valued at $140.1 million — nearly 10% of TRX’s aggregate market capitalization. In comparison, Etherueum-based IDEX, the blockchain’s most utilized decentralized exchange, has posted 1.9k Ether ($241k) in 24-hour volumes. Ethereum’s leading gambling app, FCK, has posted a more respectable 4.6k Ether. Regardless, for now, it seems as though Tron’s innovators are leading the proverbial DApp race. Tron (TRX) News Roundup: niTROn Nears: The niTROn Summit, a TRX-centric event hosted by Justin Sun & crew, will start on January 17th and run for two days. The blockchain event will expectedly see Kobe Bryant, the de-facto king (prince in the eyes of some) of basketball Justin Sun, and an array of others make keynote presentations. Many optimists believe positive announcements for Tron and the cryptosphere at large will be made at the two-day conference. BitTorrent Exec Bashes BTT, Justin Sun Quips Back: Last week, Tron revealed that it, along with its partner in BitTorrent, would be launching the BTT token, an asset centered around bolstering a “token-based economy around the usage of networking, bandwidth, and storage.” However, in an interview with BreakerMag, Simon Morris, the former CSO at BitTorrent, explaining that the integration of BTT into Tron’s blockchain would “melt” the network. Since then, Justin Sun has quipped back, explaining that the BTT integration will be accomplished by a “hybrid approach,” and that the fears are unwarranted. Tron To Surpass 200 DApp Milestone: Just days before this TronBet news, Sun claimed that statistics from DApp Review indicates that his brainchild now supports 133 blockchain-based applications. With this number expected to swell by two or three each day, Sun noted that with the company incubator/accelerator, the blockchain will support 200 active DApps in due time. Per previous reports from Ethereum World News, TRX has led crypto’s single-digit percentage recovery today. The crypto asset, now ninth on this industry’s pseudo-standings, is up 17.61% at the time of writing, finding itself at $0.0259 apiece. It remains to be seen whether this positive price action, deemed a mini, self-contained bull run, will continue in the coming days. But many holders of TRX hope it will, that’s for sure. TRX Title Image Courtesy of Descryptive.com via Flickr The post Top Tron (TRX) DApp Sees Volume Surge — Overtakes Top Ethereum, EOS Apps appeared first on Ethereum World News.

13 hours ago

If History Rhymes, Bitcoin (BTC) May Bottom At $1,700: Crypto Analyst

Bitcoin (BTC) Could Bottom At $1,700 Murad Mahmudov, a Princeton graduate with dreams of launching his own crypto-centric hedge fund, has quickly become a leading Bitcoin (BTC) analyst, posting an array of in-depth, respectable bits of technical, historical, and fundamental analysis that have resonated with investors. On Sunday, the industry insider took to Twitter to issue his latest analysis thread. 1/ Let's go on a little journey. What if the history does indeed rhyme? pic.twitter.com/VDSonz68Gw — Murad Mahmudov (@MustStopMurad) January 13, 2019 Mahmudov first drew attention to Bitcoin’s historical price action, drawing lines between the bear market of 2014/2015, specifically the “Baby Capitulation and Final Capitulation” events, and today’s market. Long story short, through a mashup of historical and technical analysis, BTC could fall to as low as $1,700-$2,200 by Spring 2019. So, in closing, the analyst wrote: If the above dynamics are correct and history does indeed rhyme - which is a big if — We can expect a 1700-2200 bottom in the Spring (most likely April). This recent quip comes just weeks after Mahmudov took to Tone Vays’ Youtube channel to talk cryptocurrencies. In the podcast-esque environment, the Princeton graduate drew attention to this $1,700 price forecast, explaining it from more of a fundamental level. As reported by us previously, he explained that a number of altcoins, like Ethereum (ETH), EOS, XRP, along with an array small-cap assets, are still drastically overvalued, especially considering their often misconstrued and sometimes non-existent value propositions. Moon Overlord, a respected crypto trader, echoed Mahmudov’s thoughts. The pseudonymous commentator explained there’s a fleeting chance that Bitcoin has another “substantial draw-down” ahead of itself, also citing historical data. As the harrowing, yet also optimistic adage goes, “history does not repeat itself, but it rhymes.” So, if previous trends prove to be an accurate indicator, the flagship cryptocurrency could fall to as low as $1,700 before another “knock your socks off” rally. In the same vein of “rhyme, not repeat” thought, other analysts have been more optimistic. Chris Burniske, a partner at Placeholder Ventures, recently claimed that if the crypto market truly moves in multi-year cycles, 2019 will be the year of crypto projects shipping product, echoing sentiment touted by Fred Wilson. Another analyst, going by Filb Filb, once explained that BTC could surpass $333,000 by 2022, drawing parabolic lines in a somewhat nebulous sense. Crypto Analyst Expects “New Bull Cycle” In Mid To Late-2019 In related news, another investor, who goes by the online moniker “GalaxyBTC (Galaxy),” claimed that the crypto market is currently entering an accumulation phase, meaning that lower lows are possible but somewhat unlikely. He/She noted that 2014/2015’s bear season lasted for 420 days. So, if history is any indicator, BTC could be nearing the end of its downturn, and will subsequently enter a “new bull cycle” in mid to late-2019. "The future lies in the study of the past" We're approaching the 420 day mark which ended the 2015 bear market and if history repeats itself, we're moving towards several months of accumulation and a new bull cycle starting mid-late 2019. $BTC #bitcoin pic.twitter.com/VX8ok9oFue — Galaxy (@galaxybtc) January 14, 2019 Per previous reports from Ethereum World News, Delphi Digital, an independent market research consortium, also recently claimed that Bitcoin is currently entering a bout of accumulation. The analysis completed by Delphi routed through The Next Web’s Hard Fork segment claims that there’s actually been an uptick in Unspent Transaction Outputs (UTXOs), indicating that investors are accumulating Bitcoin en bloc — which could potentially account for the increase in active accounts. The independent research group noted that “older owners have exhausted much of their selling efforts,” drawing attention to UTXO data they compiled. Delphi’s team went on to write that this all indicates that a round of accumulation, purportedly similar to one seen at the end of 2014 (the previous drastic bear market), is occurring. Or in other words, a bottom could be in sight. However, considering the aforementioned calls, BTC may have quite further to fall in a relatively short period of time. Title Image Courtesy of Andre Francois Mckenzie Via Unsplash The post If History Rhymes, Bitcoin (BTC) May Bottom At $1,700: Crypto Analyst appeared first on Ethereum World News.

13 hours ago

News Flash: Cryptopia Exchange Hacked, Investigations by New Zealand Authorities Ongoing

Beginning the 13th of January, users of the New Zealand based cryptocurrency exchange of Cryptopia started experiencing technical difficulties with their accounts. The exchange went on to announce via twitter that they were carrying out an unscheduled maintenance to sort out the issue. The initial tweet by Cryptopia can be found below. We are currently experiencing an unscheduled maintenance, we are working to resume services as soon as possible. We will keep you updated. — Cryptopia Exchange (@Cryptopia_NZ) January 14, 2019 Tweets of Continual Maintenance by Cryptopia The exchange went on to tweet two more times that they were still carrying out an unscheduled maintenance. The two tweets can be found below. Update: We are still experiencing unscheduled maintenance. The next update will be at 8am NZDT (7pm UTC) — Cryptopia Exchange (@Cryptopia_NZ) January 14, 2019 Update: We are still experiencing unscheduled maintenance. Our team is working hard to resolve this and we will provide an update soon. — Cryptopia Exchange (@Cryptopia_NZ) January 14, 2019 Visitors of the Cyrptopia website, are also being informed of ongoing maintenance via the following message. Maintenance Cryptopia is currently in unscheduled maintenance mode. We will be back soon. We apologize for any inconvenience this may cause, we are working to resume services as quickly as possible. Cryptopia Clarifies it was a Security Breach and Investigations are Currently Ongoing It is with the above background that the exchange has issued one more tweet explaining the crypto exchange had suffered a security breach that resulted in significant losses. The team at Cryptopia also informed its users that they have notified all relevant Government Law Agencies in New Zealand. According to the tweet, the exchange suffered the attack on the 14th of January. All trading and movement of funds in and out of the exchange, has also been suspended. No additional information has been provided by the exchange at the moment of writing this. A copy of the message provided on twitter by the exchange can be found below. Cryptocurrency Market Reaction To The Hack Many keen crypto traders and enthusiasts are curious as to how the crypto markets will handle news of the hack that was carried out on Cryptopia. One needs to only remember the market after-effects when exchanges were hacked in 2018. News of exchanges being hacked were accompanied by flash selling. Checking the crypto markets, we find that the total market capitalization is stable at $122.482 Billion with Bitcoin (BTC) trading at $3,673. A majority of the top 100 cryptocurrencies are also in the green and exhibiting moderate gains after the weekend bloodbath. However, a full 24 hours might be necessary to gauge the effect of the Cryptopia hack on the general feel and mood of the crypto markets. What are your thoughts on news that Cryptopia has been hacked and significant losses incurred? Please let us know in the comment section below. Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post News Flash: Cryptopia Exchange Hacked, Investigations by New Zealand Authorities Ongoing appeared first on Ethereum World News.

13 hours ago

On the Brink of...College? ‘Bitcoin Baby’ Receives BTC From Ad in The Times

A rather interesting listing has popped up in The Times of parents seeking to raise money for their newborn baby via Bitcoin donations. ‘Bitcoin Baby’ Asks for College Donations Little Izabella Anna Bowles was born on January 6th, 2019. Her parents, however, have decided to waste absolutely no time in saving up for her college fund. Unlike regular parents, however, Wioletta and Peter, have decided to ask the cryptocurrency community for their financial support. A listing published in The Times reads: Bitcoin Baby On 6th January 2019 to Wioletta (nee Witek) and Peter, a daughter, Izabella Anna Bowles, sister to Philip, Weighed 2.2kg. Bitcoin College fund: 1ZAB5XeKMdvax2S8eZT7GQ6Nj4xjbsw1Y The cryptocurrency community has been quick to respond. The first recorded transaction to that address was on January 10th. Four days later, the address has already seen 154 transactions and it contains 1.03581043 Bitcoin (BTC) 00. At the time of writing this, the BTC in the address is worth around $3,660.53. The Times is no stranger to publishing Bitcoin-related content. On January 3rd, 2019, the newspaper featured a front cover ad celebrating Bitcoin genesis block’s tenth birthday, which famously includes a headline from The Times on January 3rd, 2009 that reads: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks. The same issue also published an article of BitMEX’s CEO Arthur Hayes warning that the end of cash is “sooner than you think.” Begging or Crowdfunding? Izabella’s parents initiative has been regarded by some as a “disguised way to beg” as the Reddit submission has been flagged and removed as it constitutes “begging for money.” However, the overwhelming majority of users have been nothing but welcoming. The accumulated amount of BTC best shows that. One thing most of them seem to agree on, however, is the fact that it was a bad move by the parents to only publish the 33 alphanumeric address instead of the alternative QR code. A lot of users are also making the case that while the current amount of Izabella’s college fund might be insufficient to cover her tuitions if the bullish predictions for Bitcoin’s price come true, it might be more than enough in the future. Will the Bitcoin baby receive enough money to cover college? Share your prediction below! Images courtesy of Shutterstock, reddit The post On the Brink of...College? ‘Bitcoin Baby’ Receives BTC From Ad in The Times appeared first on Bitcoinist.com.

13 hours ago

Bakkt Expands Compliance Capabilities With Its First Acquisition

Fresh from completing its maiden funding round, Bakkt announced its first acquisition on Monday, Jan. 14, 2019. The daughter company of the Intercontinental Exchange (ICE) is also eyeing the possibility of expanding beyond the U.S. market. Bakkt Acquires RCG Back Office Bakkt announced the news of the acquisition via a Medium post by CEO, Kelly Loeffler. According to the blog post, the company is acquiring some assets of Rosenthal Collins Group (RCG), a longstanding independent futures commission merchant. We're pleased to share that we have entered into an agreement to acquire certain assets of Rosenthal Collins Group (RCG), an independent futures commission merchant https://t.co/5sgdbRO6Ql — Bakkt (@Bakkt) January 14, 2019 According to Loeffler, the deal should be finalized by February. Back in December 2018, Marex Spectron, the Commodity Brokerage firm acquired RCG’s customer business. The Bakkt CEO says the deal with RCG is for the purchase of assets related to its platform. In an interview with Fortune, the Bakkt CEO said: Typically when companies are combined you have overlapping systems, so we saw an opportunity to a purchase a portion of the back office operations, including compliance and treasury services, and risk management, as well as adding members of the RCG team. Commenting on the importance of the acquisition, Loeffler said that it enhanced the platforms expertise across risk management and treasury operations. Other aspects of the transaction will contribute to our regulatory, AML/KYC and customer service operations as we help enable digital asset acceptance by bringing more choice and control to buyers and sellers. To this end, Loeffler insists that the acquisition isn’t tailored to institutional needs alone. According to the Bakkt CEO, the move has immense benefits for its consumer business as well. Not Standing Still The United States Commodity Futures Trading Commission (CFTC) is yet to approve for Bakkt to begin trading its Bitcoin futures. However, Loeffler says the company isn’t waiting around for approval as the team continues to work behind the scene. Initially set for launch in January 2019, reports say the current U.S. government shutdown will push the launch to ‘early 2019.’ Nevertheless, Bitcoinist reported that the company raised $182.5 million in its first funding round from prominent investors like Microsoft at the end of December. While waiting for CFTC approval, Bakkt is reportedly eyeing making inroads to markets outside the United States. According to Loeffler, the platform is in talks with regulatory agencies outside the country. Meanwhile, the company continues to reiterate that the current market conditions do not negatively impact its plans. Loeffler noted: People focus narrowly on Bitcoin’s price, but blockchain and crypto-currency technology keep advancing. Bitcoin certainly needs a boost; Bakkt could very well help provide it. Do you think the Bakkt launch will ignite Bitcoin boost? Let us know your thoughts in the comments below. Images courtesy of Twitter (@Bakkt), Shutterstock The post Bakkt Expands Compliance Capabilities With Its First Acquisition appeared first on Bitcoinist.com.

13 hours ago

XRP Classic [XRPC]: A new coin has surfaced on Twitter and major cryptocurrency ranking website CoinMarketCap

XRP Classic aka XRPC is a new coin that has surfaced on Twitter and other cryptocurrency ranking websites and the community considers this new coin a scam. XRP community is a tightly knit community with some staunch believers. It has come together to report this ‘copy-cat’ of XRP, XRP Classic. The new coin has the same logo as Ripple but Orange in color and is being called “XRP Classic”. CoinMarketCap, a very famous website that is being used by millions of people around the world has also listed this coin on their website. However, the market cap of this coin and circulating supply is not yet mentioned but it was trading at $0.000001, at the time of writing. As per a report by The Daily Hodl, it is an ERC20 token. The coin is also listed on Coingecko, another cryptocurrency ranking website. The website mentions that XRPC is listed on three exchanges viz., Mercatox via trade pair XRPC/USDT, EtherFlyer via trade pair XRPC/ETH, and Token Store via trade pair XRPC/ETH and the total trading volume for XRPC was a mere $198.52, at the time of writing. The so-called ‘Whitepaper’ of XRP Classic gives out a very non-professional look. Their “Mission Statement” is filled with mistakes and it has symbols that don’t fit in. The XRP community on Twitter was quick to notice this coin as @Alexcryptox tweeted on January 14 saying: “WHAT SCAM IS XRPCLASSIC AND WHY IS COINMARKET CAP LISTING IT!!! RETWEET WIDELY! This is a prime example of why we need regulation to save people from this!” A Twitter user @AndrewTPCB tweeted: “Please support my cryptocurrency #xrpclassic We will soon be at 2usd in price. #XRPCOMMUNITY xrpclassic.io” @cryptovonripple commented: “Wow! Blatantly Scamming folks as if it ain’t no thang... Welcome to Crypto Twitter folks THERE IS AND WILL ONLY EVER BE ONLY ONE #XRP - Not even Stellar Lumens (#XLM) could make a decent Copy” The post XRP Classic [XRPC]: A new coin has surfaced on Twitter and major cryptocurrency ranking website CoinMarketCap appeared first on AMBCrypto.

13 hours ago

XRP could be theoretically used in domestic payment transfer via the US’ ACH system, says Uphold CEO

Uphold CEO, JP Thieriot spoke on Thinking Crypto about how the traditional financial system in the U.S. is lagging behind in terms of cross-border payments and how Ripple and XRP could change the scenario altogether. Thieriot said that they are launching a new product “Earn and Borrow” and that the updates related to this will be coming out next week. He continued: “... and then another common thing that I find sort of interesting is one around how slow it is for people to do an ACH transaction from their US bank account into uphold where you know very annoyingly it can take up to eight or nine days... and... it has to do with the deficiency of the US ACH system which is not nearly as efficient for instance as the European equivalent SEPA.” Furthermore, Thieriot said that the XRP constituents who are familiar with these problems suggested Uphold use Ripple’s xRapid technology, which is better than traditional payment systems and provides a near instant settlement. Thieriot said that they have “contemplated” the use of xRapid for cross-border payments which is the nature and purpose of xRapid. In addition, Thieriot said that the problem arose when it came to payment transfer within the U.S. using the ACH system. He continued: “one could conceive of XRP being used in the same way it’s used in xRapid to fix an inefficiency with the legacy banking system that XRP could theoretically be used in a domestic context as well.” The CEO added that they could use XRP in a domestic context as well, but that would require a deal between Uphold and Ripple to be inked which would provide Uphold the liquidity that would otherwise be provided in case of xRapid use for cross-border payments. He also acknowledged how the XRP community, which is sometimes also an “XRP army” could help them do a deal with Ripple that would allow them to provide Uphold users instant transfers using the ACH system. @XRPTrump aka Dr. T, one of the prominent members in the Twitter XRP/Ripple community tagged Welly, a Business Development Executive at Ripple and asked if he could share his thoughts. Welly replied: “Solving for delays for all of FedACH (which is practically ubiquitous in the US) is tough. If Uphold is experiencing friction, I would start by trying to make it easier to move money to/from another wallet/network that also already supports XRP and USD.” The post XRP could be theoretically used in domestic payment transfer via the US’ ACH system, says Uphold CEO appeared first on AMBCrypto.

13 hours ago

What Is Naked Dollars (NKD)?

At its core, NKD Technologies is an asset backed ERC20 token. The token had an ICO back in November of 2017, during the peak of the crypto craze. The NKD ecosystem includes real estate, a travel agency, and a cosmetics line. By purchasing the token you are effectively becoming a part of the ecosystem. Why the name NKD? NKD stands for Naked Dollars, the reason behind the name of the cryptocurrency is because of the Naked restaurant based in Malaysia founded in 2013. Marco Robinson, the Founder of NKD Technologies and the restaurant, decided to name his token after his unique business. According to their website: “NAKED Restaurant & Bar as we see it, is a place where you can bare it all and be yourself - it’s where you elate to a whole new degree of self-satisfaction” The NKD ICO The NKD token ICO was hosted back in November 2017, keep in mind this was after the initial presale which predate the ICO. What makes this ICO different than traditional coin offerings is the fact that most of the funds were raised via private investor meetings. In total roughly $8 million was raised on 100 million NKD tokens. Naked Dollars Ecosystem The NKD ecosystem currently consists of 3 main businesses. The first is 4th Base Cosmetics, as the name implies it is a cosmetics line featuring a variety of products. The business is fully operational and you can purchase any of these products on their website right now. The second business is The New Rich List, this is an entrepreneur coaching platform which can connect you with award winning consultants and business owners to help you fund your business idea. Think of it as The Apprentice meets Shark Tank. The third business is called Naked Travel. It’s the only fully licensed and bonded travel agency ABTA (association of British travel agents) and ATOL (air tour operators licence) to accept cryptocurrency. Once again, this business is fully operational and you can order a vacation today. Furthermore, you can get a huge discount on your purchase if you use NKD. The fourth entity is the Freedom X Movement. This is a the world’s first homeless charity integrated with blockchain technology. The Freedom X movement is based on “conditional altruism”, in other words “I will help you IF you help someone else” By contributing to the Freedom X charity, you will know exactly where your money goes and it will help provide support for homeless. Furthermore, another aspect to the NKD ecosystem is that the team is building merchants and either funding them through the new rich list or providing them with vouchers to use as incentive for new and existing customers. These customers can also earn NKD when they spend money on products from these merchants. Where can you get NKD? Currently you can only purchase NKD on LAToken and you must have a verified account and be an accredited investor. NKD will be listed on a few other exchanges in the next month as the team is currently in talks with them. Furthermore, the NKD team has an airdrop on bitcointalk where you can earn Naked Dollars for participating in various social campaigns. If you would like to get involved with the NKD community join their telegram channel. Disclosure: The author of this article is an adviser to NKD Technologies and does have a stake in NKD. Image(s): Shutterstock.com The post What Is Naked Dollars (NKD)? appeared first on NullTX.

13 hours ago

The First Bank Using XRP Says Ripple Partnership Will Create a ‘New Era’ of Innovative Payment Solutions

The first bank to use the XRP-powered payment solution xRapid is touting its new partnership with Ripple. “Euro Exim Bank has joined Ripple, connecting banks, payment providers and digital asset exchanges via RippleNet to provide clients one frictionless experience to send money globally. Operating collaboratively with Ripple and selected counterparts, we are implementing both xCurrent […]

14 hours ago

#NebulasNOVA 101: Lets take a look at how #Blockchain #Devel...

#NebulasNOVA 101: Lets take a look at how #Blockchain #Developers earn on-chain incentives via Developer Incentive… https://t.co/JORGur7fX3

15 hours ago

@CryptoNeeson Hello, if this is a legitimate enquiry, you ar...

@CryptoNeeson Hello, if this is a legitimate enquiry, you are welcome to contact us via info[at]ambrosus[dot]com an… https://t.co/OptHFLWRbC

17 hours ago

Cryptopia hack announced 15 Jan 2019. via ...

Cryptopia hack announced 15 Jan 2019. via https://t.co/zn3tGx7ejo https://t.co/pBx4Zhv3e5 $UNO #Unobtanium Learn mo… https://t.co/MXaGFKCqhO

19 hours ago

Cryptocurrency Exchange Cryptopia Gets Hacked, Users’ Funds Stolen

Crypto Exchange Cryptopia, based in New Zealand, has announced a security breach which has led to a significant loss of users' funds. The hack, which took place on January 14th, was announced via a medium post. According to the announcement, the exchange has suspended all trading activities and is now carrying out maintenance. Although it did not state the specific amount lost, the exchange noted that relevant government authorities including the High Tech Crimes Unit and NZ police are currently investigating the hack. This is the first crypto exchange hack in 2019. (KE)

a day ago

Public to Earn Block Rewards Through Donations of Computing Power to Scientific Research

Resistance, a blockchain-based startup is set to launch Proof-of-Research (PoR) to enable the public to earn block rewards and at the same time do away with the excessive energy consumption levels of crypto mining. The startup argued that a lot of electricity is “wasted on mathematical equations” and large mining firms are controlling the market with Proof-of-Work mining. Resistance believes with PoR, miners with regular computers can still compete for block rewards. The volunteers who will provide computing power via PoR can back scientific projects like the World Community Grid. World Community Grid researches on humanitarian challenges like Cancer, Zika Virus and HIV/AIDs among others. (KE)

a day ago

Parents Raise More Than 1 BTC From Newspaper Ad Requesting Donations for Baby's College Fund

In an example showing that it's never too late to plan ahead, some proactive parents recently posted an ad in The Times newspaper announcing the birth of their baby girl and seeking to raise money for her college fund via Bitcoin donations. “Bitcoin Baby. On 6th January 2019 to Wioletta (nee Witek) and Peter, a daughter, Izabella Anna Bowles, sister to Philip, Weighed 2.2kg. Bitcoin College fund: 1ZAB5XeKMdvax2S8eZT7GQ6Nj4xjbsw1Y.” The crypto community was quick to respond with the first recorded transaction occurring on January 10th and continuing to its present value of 1.04949481. (JF)

a day ago

Largest Cargo Shipping Company in Israel Opens its Blockchain Platform to All Clients

Zim, the largest shipping company in Israel, recently announced that it was opening its blockchain platform for electronic bills of lading (eB/Ls) to all clients in selected trades. The news comes after the successful year-long pilot testing of the blockchain-powered eB/Ls platform which has demonstrated blockchains ability to “replace the currently existing paper-based processes,” and “improve the workflow conducted via email, fax, and other channels.” The platform was recently able to complete two transactions in less than two hours each, a process that can typically take days or weeks. (JF)

a day ago

Economics Scholar Leads Initiative Raising Cryptos to Combat Hyperinflation in Venezuela

Dr. Steve Hanke, a well-known scholar of currency economics and hyperinflation, has recently been touting the benefits of Bitcoin and cryptocurrencies as he leads the way on an initiative that seeks to raise funds to help people in Venezuela. Some are calling the initiative “Airdrop Venezuela,” which seeks to raise $1 million in donations via cryptocurrency. Proceeds from the initiative will be distributed to 100,000 Venezuelans through the AirTM digital wallet which links blockchain assets to real-world bank accounts. So far the project has raised $160,000. (JF)

a day ago

@NeerajJadhav11 It's unclear what you're trying to do here. ...

@NeerajJadhav11 It's unclear what you're trying to do here. Support is not rendered via Twitter. Feel free to drop… https://t.co/BgaiyKTGC6

2 days ago

LORDLESS, a Decentralized Bounty Game Set to Join the TRON Arcade

LORDLESS, a decentralized fantasy game that rewards users for completing specific tasks, has announced that it is moving from Ethereum to TRON via the support of the Tron Arcade. Per the announcement, LORDLESS is a top-10 Ethereum gaming dApp and has 5,460 active users monthly. The publication did not unveil the timeline for the launch of the game on TRON, but the LORDLESS team is currently working on moving its significant elements from the Ethereum network. This news comes after EtherGoo, a competitive idle game, recently shifted from Ethereum to join TRON. (KE)

2 days ago

Elastos (ELA) TV Boxes Surpass 900,000 Units Distributed

The Elastos (ELA) recently posted a tweet that demonstrates the projects steady growth and increased adoption as the team continues to work hard on development amidst the Crypto Winter: 900k TV Boxes sold, 180k registered DID users via Viewchain, and our new wallet hit the app stores - all in our weekly update. #Elastos $ELA #ElastosWeekly #SmartWeb.” With more than 900k TV boxes operating an Elastos carrier node as well, the strength and decentralization of the network continue to climb higher. ELA is currently trading at $2.24. (JF)

2 days ago

IBM's Quantum Computer will not 'Break' Bitcoin

IBM’s recent launch of its new quantum computing system has spurred rumors that the technology could mark the end of encryption and cryptocurrency. According to a variety of reports, a quantum computer has the capacity to break apart contemporary encryption practices and also subvert the security of distributed ledger technologies. IBM Research director Arvind Krishna says that the system is “critical in expanding quantum computing beyond the walls of the research lab...and the development of practical quantum applications [should apply] to business and science.” While the computer is designed for commercial use, it is only accessible via the cloud and Gizmodo reported that IBM already offers cloud-based quantum computing services. Joint Center for Quantum Information and Computer Science co-director Andrew Childs, said that while the announcement was groundbreaking, he is skeptical about the actual device and its use. Childs said, “I think figuring out how to make a lot of low-noise qubits (processing chips) is a lot more important than figuring out how to put them in a beautiful package.” (RS)

2 days ago

Multicoin Capital CEO says Ethereum's Dominance Could Be Challenged

Multicoin Capital co-founder Kyle Samani believes that projects like Dfinity and Cosmos could challenge Ethereum’s dominance over smart contracts and decentralized applications (dApps) in 2019. Samani issued the comments during a recent interview with Business Insider. While Samani believes that Ethereum will maintain its dominance over ICO launches, he also believes that the market will become more balanced in 2019 as there are many well-funded projects which are similar to Ethereum. Samani references Dfinity as an example and the Switzerland-based blockchain-startup has already raised $100 million via private token sales and is on track to raise more than $200 million. (RS)

3 days ago

900k TV Boxes sold, 180k registered DID users via Viewchain,...

900k TV Boxes sold, 180k registered DID users via Viewchain, and our new wallet hit the app stores - all in our wee… https://t.co/vVS3vIeh9w

4 days ago

Pablo Escobar's Brother says ESCOBAR Token will Fund the 'Impeach Trump' Effort

After being blocked from raising funds on GoFundMe, Roberto Escobar, the brother of deceased drug kingpin Pablo Escobar, has launched a cryptocurrency purposed with impeaching U.S. President Donald Trump. According to escobartrump.org, ESCOBAR token is an ERC-20-based stablecoin that is supposedly pegged to the U.S. dollar. At the moment, the project is holding an ICO pre-sale of 200 million tokens and the funding round will end on May 10. The Escobar estate hopes to sell 1 billion ESCOBARS and the stablecoin will be redeemable for US dollars via a broker in Belize. Escobar Inc., CEO Olof Gustafsson recently told The Next Web that the initial campaign titled “ByeByeTrump” raised $10 million on GoFundMe in just 10 hours before being shut down and this act of censorship inspired the launch of ESCOBAR stablecoin. (RS)

5 days ago


News courtesy of berminal.com
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