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A growing number of cryptocurrency exchanges in India are adding stablecoins such as trueusd (TUSD) and tether (USDT) to their platforms. They are part of the solutions exchanges have come up with in order to minimize the impact of the crypto banking ban imposed by the countrys central bank.
Unocoin, one of Indias largest crypto exchanges, announced on Wednesday the addition of TUSD to its crypto-to-crypto platform, Unodax. An ERC-20 token built on the Trusttoken platform, each TUSD is said to b...
BitConnects BCC token is set to be delisted from the last cryptocurrency exchange that still traded it, meaning its about to become a dead coin over a lack of liquidity. Surprisingly, the token still has a market cap of over $6.6 million. TradeSatoshi, a little-known cryptocurrency exchange with a daily trading volume of about $1.16
The post Dead Coin Walking: BitConnect Set to Be Delisted from Last Crypto Exchange appeared first on CCN
Controversial Internet pirate and bitcoin advocate Kim Dotcom is urging everyone to invest in gold and bitcoin because the U.S. government is adding $1 trillion to its debt every year, which will never be paid. The debt will destroy the U.S. and create a global economic collapse, Dotcom argued in a tweet. 1 TRILLION DOLLARS
The post Kim Dotcom: Invest in Bitcoin Before U.S. Debt Spirals Out of Control appeared first on CCN
While Bitcoin mining which is the backbone of many public blockchains is often left to the operators of data centers, some university students have begun to try their hand at running their own, in-dorm mining efforts.
Speaking with CNBC journalists, Patrick Cines, a Penn State College graduate, highlighted his foray into cryptocurrency mining while living on campus grounds. The 2017 Penn State graduate stated:
I had basically a box, maybe a foot and a half by a foot and a half tall. It was sitting in, right at the foot of my bed. Had several graphics cards.
While this may have been the computer of a gaming enthusiast living in a cramped dorm room, Cines noted that this was actually a compact cryptocurrency mining rig. He noted that while in operation, this tiny, but powerful machine, was a substantial source of income for a university student with a crammed schedule, as mining farms can be used with a set and forget mindset.
Despite the fact that this side-hustle buffed the students wallet, it wasnt all sunshine and rainbows, as Cines went on to explain in the following statement:
It was unbearable I had fans running, I had the window open. The first day I was living there, went to Home Depot, bought some dryer tubes, strapped them to the front, and used that to push all the hot air outside of my room.
But to Cines, the unbearable heat that became part of his daily life was all worth it, as his rig proved to be much more than a source of passive income. He added that mining shaped his aspirations for the study and development of technology, stating:
[Mining] was my personal introduction to tech and being in the Blockchain space. So I was really excited to just see every single thing that I did afterwards definitely shaped my college career,
Although student miners may be operating in good faith, for university administrators occurrences of on-campus mining might pose to be a financial issue. According to Mike Banic, an executive at cybersecurity firm Vectra, mining may require universities to foot some hefty electricity bills. Banic noted:...
Havven, a decentralized payment network and stablecoin, has decided to launch on the EOS blockchain and will airdrop half of its new HAV tokens on the EOS blockchain to existing HAV holders on Ethereum. Havven wants to ensure that the payment networks success does not depend on one blockchain. The Havven/EOSIO partnership was announced at the
The post Interview: Blockchain Startup Havven Brings EOS its First Stablecoin appeared first on CCN
Two common complaints among crypto traders are that
platforms which didnt before are now demanding identification
documents and that more venues close their doors to residents of
some countries. While users naturally lash out at the companies, it
is important to remember that this is often done under coercion or
threat by regulators. The US government, for example, doesnt
consider itself bound by national borders in pursuing unregulated
Kenneth A. Blanco, Director of the Financial Crimes Enforcement Network (FinCEN), a bureau in the US Treasurys Office of Terrorism and Financial Intelligence, has spoken about his agencys approach to cryptocurrency on Thursday. The main takeaway from his speech to the industry is that the US gov...
Facebase mightve been a fictional company name that you heard after David Marcus of Facebook joined Coinbases board, as speculation was rampant regarding the potential for collaboration between the two firms. But for now, it seems that any chance of collaboration between the two companies may be ending, as the executive of the social media firm has just resigned from his spot on the Coinbase board.
As per a Business Insider report, David Marcus, a former vice president of Facebook Messenger, has announced that his 8-month tenure on Coinbases board is sadly coming to an end. However, this move didnt come without reason, with a Coinbase representative stating that this move was made to avoid the appearance of a conflict of interest.
What conflict of interest? you may ask.
As NewsBTC reported in May, Facebook launched its first-ever blockchain initiative, removing Marcus from his role at Messenger to become the go-to guy for this new division. Following this announcement, Facebook went quiet, with this unexpected foray into blockchain moving to the back of everyones mind. But with this move, it has become apparent that there may be something exciting in the works, and that it may be time for the Facebook and Coinbase overlap to end.
Speaking with Business Insider via a Facebook representative, Marcus alluded to the conflict of interest, stating:
Because of the new group Im setting up at Facebook around blockchain, Ive decided it was appropriate for me to resign from the Coinbase board Ive been thoroughly impressed by the talent and execution the (Coinbase) team has demonstrated during my tenure, and I wish the team all the success it deserves going forward.
Speculation raged on what could have caused this conflict of interest, with some postulating that Facebook was going to create a platform that rivaled what Coinbase has built up.
But in a separate statement to CNBC, a Facebook spokesperson noted that Marcuss decis...
The bitcoin price in the past 24 hours has undergone a much-needed bullish correction, rising about $500 since establishing an intraday low around $6,009. In our previous BTC/USD analysis, we were waiting for a bounce back from 6009-fiat to apply our intrarange strategy. As it did, our long position towards 6192-fiat made us a nominal
The post Bitcoin Price Intraday Analysis: BTCUSD Undergoes Bullish Correction appeared first on CCN
This weeks top stories include two feature interview: one with
Kavita Gupta, founding managing partner at ConsenSys Ventures; and
another with electronic dance music DJ Justin Blau (aka DJ 3BLAU)
who is launching a decentralized music festival. Bitcoiners have
begun moving from Twitter to a new instance on Mastodon, the SEC
has delayed yet another ETF decision, and some of West Virginias
overseas service members may be able to vote using a
blockchain-based mobile app this November.
Featured stories by Tanzeel Akhtar, Jimmy Aki, Matthew Breen and Colin Harper
Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here.
ConsenSys, the Ethereum production studio based in the U.S., launched ConsenSys Ventures last year selecting Kavita Gupta to run two funds of $50 million and $100 million. Bitcoin Magazine spoke with Gupta to discuss the launch of project Tachyon and the launch of ConsenSys India.
She spoke about their goal to attract a diverse cohort of up to 1518 teams, within the accelerator they are offering three tracks: Blockchain for Social Impact track; the Ethereum Project track; and an Open Source, blockchain-agnostic, grant-driven track. Upon completion of the program, they will have a demo day that will be exclusive to the most prominent angel and venture capital investors with expertise and passion for the blockchain technology. Gupta also discusses their technological focus, how they identify projects and teams and how investments are allocated.
The SEC appears to be in no hurry to review the pile of Bitcoin ETF filings it has been accumulating over the past year. Not three weeks since postponing its decision on five other Bitcoin ETFs, the SEC has indicated in a public statement that it will be delaying its d...
If youre wondering how you should treat Bitcoin, as an investment vehicle, allow me to share with you guys my non-expert opinion. End of story, thanks a lot for reading. See you next time. this article shouldnt be taken as financial advisement as it represents my personal opinion and views. I have savings invested in
The market picture: virtually all top 100 cryptos see green on the day, though total market cap remains close to its 3-month low
Jurisdictions with crypto-friendly legislation or comprehensive regulations in place are leading in terms of exchange-based cryptocurrency trading. According to a new study, however, over the counter and P2P exchange is much more popular in developing nations and countries where non-cash payments are still not widely spread.
The report produced by financial services provider Worldcore covers data from the months of June and July and uses statistics from a Morgan Stanley study conducted earlier this year to compare two lists of countries one with the top destinations by volume traded on cryptocurrency exchanges, and a second one with those that lead in terms of over the counter (OTC) and peer-to-peer (P2P) trading volumes.
The new study confirms that jurisdictions offering favorable business climate through crypto-friendly legislation as well as those with well-established regulatory frameworks account for a large portion of the exchange-based crypto trade. Malta ($1.2 billion), Belize and Seychelles ($700 million each) are topping the chart with over 2.6 Billion USD of daily trading volume.
Over the past 24 hours, Bitcoin, Ethereum, and Bitcoin Cash recovered by around four percent, as the crypto market added $8 billion to its valuation. On August 11, the crypto market lost more than $12 billion of its valuation as major cryptocurrencies recorded large losses. Since then, the market has slightly recovered but the momentum
The post $43 Billion Wiped Out of Crypto in 5 Days as Bitcoin Price Rebounds appeared first on CCN
This week in the Hodlers Digest, Starbucks corrects media hype you cannot buy your favorite Frapp with BTC and the SEC postpones a BTC ETF decision until this fall
Although the past week was rather quiet for the cryptocurrency industry, the price action seen throughout the past few days seems to tell a different story, with Bitcoin trading within a hefty $1,400 range.
On Tuesday afternoon, the SEC released a document revealing that it would be delaying its verdict of the VanEck and SolidX Bitcoin ETF by 45 days. In a two-page document, the American regulatory body highlighted the fact that it was exercising its right to delay such a decision, from the original date of August 16th to September 30th. Despite the fact that the SEC didnt outright deny the proposal, some wary investors saw this of a premature sign of what was to come when the final verdict rolls about.
Jake Chervinsky, an American lawyer active in the cryptosphere, released an insightful tweet regarding his opinions on the ETF and its position with the SEC. Chervinsky, who keeps an ear to the ground in this industry, noted that he expects for the SEC to issue another extension until December 29th. In a tweet in the same thread, the lawyer predicted that if the regulatory body instituted proceedings, that a disapproval of the proposal would be more than likely.
Expected result, earlier than expected execution.
New deadline: Sunday, September 30, exactly 45 days from the prior deadline of August 16. I had predicted October 1, thinking the SEC would carry the deadline over to the next Monday.
I expect another extension to December 29. https://t.co/dzHq9W6xU4
Jake Chervinsky (@jchervinsky) August 7, 2018
As a result of rampant bearish speculation, the market saw a quick sell-off, with the price of Bitcoin quickly dropping through the key support at $6,800. Altcoins followed closely behind, posting similar losses in terms of percentage. Nonetheless, CNBC crypto analyst Brian Kelly noted that the market reaction to this verdict was irrational, stating:
Weve had this b...
A research which studied user data leaks from cryptocurrency exchanges has revealed that Americans are the main targets for cryptocurrency hacks. The study was conducted by Group-IB, a Russian based computer forensics and information security firm, who revealed their findings in a report titled 2018 Cryptocurrency Exchanges-User Accounts Leaks Analysis. The firm revealed that in
The post Americans are the Main Targets for Crypto Hackers, New Study Reveals appeared first on CCN
The number of hardware wallets has proliferated with the number of cryptocurrencies in recent years. Today, consumers enjoy an unprecedented choice of hardware devices on which to store their bitcoin and altcoins, though market-leaders Ledger and Trezor still dominate. For anyone agonizing over the best device for their needs, the following models are worthy of consideration.
While all of the devices featured here are small enough to be portable, only the Coolwallet S is small enough to slip into your wallet alongside your credit cards. A marvel of engineering, its wafer-thin design and e-paper display enables you to check your balance and send and receive BTC, BCH, ETH, LTC, and XRP on the go. The device connects to the Coolbitx mobile app via Bluetooth, obviating the need for a desktop computer altogether. Its slender profile and mobile-friendliness make the Coolwallet S the best of the major hardware devices for choosing and using in everyday life....
Are you good at spotting anomalies in complex problems? Charting just might be for you. CoinDesk offers its basic guide for eager intro traders.
This was an expected result for an unexpected time. The news broke on August 7 that the U.S. Securities and Exchange Commission is kicking the can on its own decision to approve or disapprove a proposed rule change that would allow The CBOE BZX Exchange list a bitcoin exchange traded fund. Now, the next deadline for some thing is Sept 30, however finally, the U.S. Securities market regulator may push it forward into 2019. As CoinDesk mentioned previously, if accepted, it could allow for the very first ever listing of a bitcoin Exchange-traded fund in the U.S., made in partnership between investments company VanEck and blockchain startup SolidX.
The two companies filed their proposal back in June. More broadly, the listing could be seen in some areas as an indication of maturation for the cryptocurrency market and probably open the door for investors to gain exposure albeit indirectly to the nascent asset class. Twitter yawns as marketplace yells. The delayed decision was, as articles on social network suggest, widely expected by members of the crypto community. But whilst the collective social network response wasnt far out of a yawn, the marketplace itself responded poorly. According to CoinDesks market evaluation report, the total value of all cryptocurrencies went down to $227.8 billion on Wednesday, the lowest level since Nov 2017.
Bitcoins cost alone fell below $6, 300 after trading over $7, 000 prior to the announcement. Not surprisingly, Twitters crypto ecosystem known for calm. For instance, OKCoin Chief executive officer Star Xu argued that these folks selling at the aftermath were overreacting. The market move led to speculation that the marketplace hadnt priced in which is to say, accounted for the chance of a SEC punt. Others wondered loudly if more nefarious actors were in work amidst the sell off, alleging manipulations in the aftermath of the announcement.
No worries here? . Some observers took a glass half complete view of the information, looking at the decision delay as a net positive. Indeed, some argued that the SECs deliberative procedure around the bitcoin ETF indicates that theyre taking the issue seriously.
Finally, as was the case for many decades now, the cryptocurrency community may have to wait to find out if the U.S. Will see the listing of a bitcoin ETF. Cryptocurrency Exchange-traded fund photo illustration via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
In recent regulatory news, Spains Central bank has issued a report favoring the development of a central bank-issued digital currency (CBDC), the president of Taiwans central bank has advocated caution regarding CBDCs, the Blockchain Research Institute has published a summary of recent roundtable discussions calling for great regulatory clarity, and a Russian court has a warned a publishing company for breaching advertising legislation with an ad pertaining to cryptocurrencies.
Spains central bank, Banco de Espana, recently published a report that seeks to consider the potential impacts that cryptocurrency and distributed ledger technology may have upon the Spanish economy.
The report advocates that the introduction of a central bank-issued digital currency would allow Banco de Espana to more efficiently implement monetary policy, stating: An argument that could be considered at the time of assessing the introduction of CBDC is related to the improvement in the conduction of monetary policy through a better control in the market returns that savers and borrowers have to face. Also, the possibility of eliminating the restrictions asso...
While the market didn't like the SEC's bitcoin ETF delay decision, observers on social media weren't surprised at all.
Make sure you check out our previous edition here, now lets go over what happened in crypto this week. Also, make sure you subscribe for this weeks edition of The CCN Podcast on iTunes, TuneIn, Stitcher, Google Play Music, Spotify or wherever you get your podcasts. Price Watch: The bitcoin price is down 12% this week following a loss of 15% last week. Bitcoin had been hovering around
The post Ethereum Classics Comeback, Bitmains $18 Billion IPO, and Goldmans Bear Tear: This Week in Crypto appeared first on CCN
In partnership with NEO and Ontology, Shanghai-based company Zeepin has been working on the development of its unique ecosystem. The companys mission is to enable economic empowerment for businesses in the creative industries and explore the potential for blockchain use among them by conducting research and engaging creatives on the Zeepin chain. While its initial appearance may sound complex and vague, lets dig into the whole of Zeepin and its dApps initiatives.
In the creative industry, the complexities of dealing with the legal protection of digital property rights, the establishment of trust transactions and finding like-minded team members may go beyond imagination. It is probably creatives who are the most vulnerable to dealing with unavoidable legal paperwork when bringing their ideas to life.
Zeepins team delivers blockchain-based support to innovators to boost economic empowerment of creatives related businesses. The idea is to provide support for innovators from idea inception to fully working project, solving issues related to project financing, protection of copyright, partnerships, remote cooperation, and recruitment. The blockchain will connect creative content with people in need of creative ideas channeled via embedded smart contracts. All of this is strived to be achieved via Zeepin dApps such as ZeeRights, ZeeCreate, ZeeTalent, ZeeFund, ZeeProof, and ZeeSure. First few dApps will be released on Zeepin Platform after the mainnet launch.
It was little over a year ago when dApps decentralized, open-source web applications that leverage on the blockchain technology, became a disruptor. On the Zeepin chain, dApps functionality will be enabled by t...
In this weeks daily editions of Bitcoin in Brief we
reported about Coinbase increasing trading limits, Shapeshift
acquiring Bitfract, Okex launching a white label platform called
Coinall, and much more. The most commented-on article during the
week covered the Rich Dad, Poor Dad author, Robert Kiyosaki, which
came out in favor of cryptocurrencies.
A number of new academic education centers around the world devoted to the research of the technology behind cryptocurrency were featured on...
Intuit has been granted a patent that describes a method whereby Bitcoin payments can be processed by using text messages. The patent was filed to the U.S. Patent Office on June 13, 2014. The application explained a system that would allow two users to complete their payments using their mobile phones. It would also include
The post Audit Giant Intuit Gains Patent for Bitcoin Transactions over Text Messages appeared first on CCN
In a recent Medium post by Hong Kong independent journalist Jackson Wong, the reliability and safety of KuCoin as a crypto exchange was called into question. In the report, titled WARNING: KuCoins Hong Kong office is empty. Be extremely cautious about depositing money into this exchange, the reporter expressed his concerns that popular crypto exchange KuCoin could be pulling an exit scam as their Hong Kong offices are empty.
Wong began his report by recapping his previous concerns about the KuCoin exchange, discussing that he feared they would become illiquid during the next crypto crackdown by the Chinese government. He claimed that the exchange apparently survived the hit by staying under the radar.
Wong then went on to discuss that he feels that KuCoin has always been suspicious because it was home-grown in Hong Kong. Wong claimed that within the Hong Kong community he has never heard of the exchange, and that if they were ever based there that the Securities and Futures Commission of Hong Kong (SFC) would have already taken actions to suspend trading on the exchange.
In addition to the fact that the exchange has apparently avoided persecution by regulatory agencies, Wong added that he has never seen any local news reports or promotions about the exchange in Hong Kong. He also called into question the KuCoin team, saying that none of their directors have Hong Kong names nor do any one of them reside in Hong Kong, and that For Chinese nationals to live in Hong Kong, they actually need either a working visa or to apply for a citizenship of Hong Kong.
At this point, the claims against the Hong Kong based exchange can only be defined as anecdotal, so Wong visited the registered address of the KuCoin headquarters, which listed the company as being located in offices in the Kiu Fu Commercial Building on the 20th floor.
When looking at the directory board of the building, the only offices located on the 20th floor is a company called Rich Moral CPA and Smart Team International Consultants. Wong emphasizes that he didnt see KuCoin listed anywhere on the directory board. Wong also importantly noted that KuCoin used to be listed under a secretarial company called Smart Team Secretarial Ltd,...
Audius, a decentralised, community-owned music sharing platform billed as the blockchains answer to Soundcloud has announced the successful completion of a $5.5 million Series A funding round as it launches the worlds first ever blockchain-based music sharing protocol. Made on August 8, 2018, the announcement revealed that the funding round was led by General Catalyst and
The post Blockchain Music Startup Raises $5.5 Million in Series A Funding appeared first on CCN
Developer Gabriel Cardona was personally recruited to fast
track development of Bitcoin Cash (BCH). Open source, full featured
development kit, Bitbox, his creation, has taken the community by
storm, and it is now part of the Bitcoin.com developer universe.
Money, Mr. Cardona likes to say, is critical to the human
condition. And BCH and its blockchain are enabling financial
sovereignty in a way which, he believes, is unique in
Also read: Report: 15,000 Twitter Crypto Scam Giveaway Bots
This week, developer Gabriel Cardona was guest for a full hour on the Vin Armani Show. At about the one hour and eight minute mark, Mr. Cardona began to lay out reasoning behind the burst of innovation in development on the Bitcoin Cash blockchain.
With hotshot initial coin offerings ringing-in billions, venture capitalists pouring money into project after project, and nearly all crypto talk dominated by speculative price analysis, idealism is hardly ever mentioned. There is almost a sense of innocence lost, having given way to strange corporate realism. When idealism is employed, derision and condescension arent too far behind nowadays. Mr. Cardona, however, champions bitcoin cash as the soundest money the world has ever known. As a developer you can make it available to all people, whatever their age, gender, nationality or financial status, he explained to Vin Armani, founder of ...
Bitcoin price declined heavily below $6,500 against the US Dollar. BTC/USD found support near $6,000 and is currently attempting an upside correction.
This past week, there were heavy losses in bitcoin price from well above the $7,100 level against the US Dollar. The BTC/USD pair fell and broke many supports like $7,000, $6,830, $6,500 and $6,200. The price tested the $6,000 support zone where buyers appeared. A low was formed at $5,982 and later the price started an upside correction towards the $6,500 level.
It broke the 23.6% Fib retracement level of the last major drop from the $7,155 high to $5,982 low. More importantly, there was a break above a key bearish trend line with resistance at $6,220 on the 4-hours chart of the BTC/USD pair. However, the upside was capped by the $6,450 level. The 38.2% Fib retracement level of the last major drop from the $7,155 high to $5,982 low also acted as a resistance. At the moment, the price is currently testing the broken trend line and is finding bids above $6,200. BTC price could bounce back and it could accelerate gains above the $6,400 and $6,500 levels.
Looking at the chart, BTC price is showing a few positive signs above $6,100. However, it must clear the $6,400 and $6,500 levels to stage a decent recovery.
Looking at the technical indicators:
I have been reading you for over a decade. I notice a change in your attitude towards Bitcoin/Crypto. Initially, you were completely against it, now you seem to be neutral. Has something changed? We now have Futures, CBOE is coming out with an ETF, every major bank is thinking of entering the space. The G20 will soon come out with a supportive statement.
ANSWER: No. I regard this as an ASSET CLASS for trading. That is distinct and separate from the claim it is a currency. Even Hyun Song Shin, the economic advisor and research director of the Swiss-based Bank for International Settlements (BIS), told Bloomberg that Bitcoin and other cryptocurrencies are far from maintaining a monetary system and just pretend to be real currencies . On that score, he is absolutely correct. This is like expecting Recep Tayyip Erdoan of Turkey to stand up and say he is wrong and his policies have been disastrous for Turkey and he will put the good of the nation before himself, or the same in Venezuela, or the religious leadership in Iran. Currencies move into hyperinflation NOT because of the rise in the quantity, but because of the collapse in CONFIDENCE, that then forces the increase in the quantity of money to pay the bills. I suppose its the question which came first? The chicken or the egg?
You have to separate reality from fiction. That does not mean that Bitcoin is not an asset class. It just is not a currency that has any real footing within the economy. So there is NO POSSIBLE WAY any government will allow a PRIVATE cryptocurrency to replace a national currency. That will NEVER happen. However, I have previously stated that governments want to ELIMINATE cash for tax reasons. Only about 4% of transactions today are in paper currency, to begin with. The bulk of our monetary system is already digital currency that does not ex...
Ethereum price tumbled and declined heavily versus the US Dollar and Bitcoin. ETH/USD remains in a bearish zone as long as it is below $400.
This past week, there were heavy losses noted in ETH price once it broke the $400 level against the US Dollar. The ETH/USD pair declined sharply and broke many supports such as $380, $350 and $320. The price is now well below the $340 level and the 100 simple moving average (4-hours). On the upside, an initial resistance is around the $330 level and $335 zone.
Moreover, the 23.6% fib retracement level of the last drop from the $410 high to $304 low is also a crucial barrier. Above this, there is a connecting bearish trend line formed with resistance at $330 on the 4-hours chart of ETH/USD. A push above the trend line resistance could push the price above the $344 level. The next resistance is the 50% fib retracement level of the last drop from the $410 high to $304 low at $357. Therefore, it seems like there are many barriers on the upside near the $340 and $360 zone.
The above chart indicates that ETH price is under a lot of pressure below $340. However, a close above the trend line and $357 could clear the path for more gains. On the flip side, a break below the $304 low may well take price below the $300 and $280 levels in the near term.
4-hours MACD The MACD is mostly placed in a bearish zone.
Boa Pra Caramba! roughly translated means amazing in Brazilian Portuguese. Regional Bitcoiners might be using the expression more these days after Brazil New Party presidential candidate Joo Amodo came out recently as very pro-bitcoin. Mr. Amodo is heading into a contentious election this October. In an interview, when asked about cryptocurrencies such as bitcoin, he thought it was neither a threat to his countrys financial system, and that it comes with certain advantages.
Joo Amodo is running for President of Brazil.
He agreed to a recent interview with a regional news outlet,
Portal Do Bitcoin.
In it, the candidate spoke with some savvy about cryptocurrency,
blockchain, and bitcoin, which politicians arent always known to
do. He also seems to largely approve of the innovations crypto
I see the blockchain as a protocol that increases the reliability and integrity of the data, Mr. Amodo, 55 explained. There are obvious applications, such as for interbank transfers or to register as a notary. Another, not so commented, is to use the blockchain to follow the productive chain of products. No matter how much ANVISA strives, it could hardly find out where they put cardboard in the meat. With the blockchain, this would not be a problem. We could follow ev...
It has emerged that the unknown person who notified Bitcoin ABC developers of a vulnerability in Bitcoin Cash which would have resulted in the unintended split of the altcoins network is actually a Bitcoin Core (bitcoins primary software implementation) developer. In a Medium blog post, Corey Fields revealed that he was responsible for anonymously and
The post Bitcoin Cash Chain-Splitting Bug was Detected by Bitcoin Core Dev. appeared first on CCN
Awareness of blockchain has soared in recent years with the emergence of cryptocurrencies, but the technology has existed for much longer. The linking of blocks, containing cryptographic functions of transactions and data, means that tampering with their contents becomes increasingly difficult as the chain grows this concept was exploited for document timestamping applications more than a decade before cryptocurrencies became reality. In many implementations, blocks are confirmed by, and stored at, many nodes in different locations, providing a high degree of data integrity. There are, however, many challenges for applying blockchain technologies in tactical networks, particularly due to the constraints of the platforms, the limited bandwidth available among them, and the impact of network partitioning. In this report, the development and principles of blockchains are presented, along with an overview of their weaknesses and vulnerabilities. There is a huge level of interest in this technology across many sectors, and this is reflected in the breadth of the referenced material. Weaknesses in design and implementation can make blockchains vulnerable to attack, and their interfaces are particularly at risk. A range of possible applications in tactical networks is explored, from supply chain management, to network management and application data immutability. Finally, a simple blockchain architecture for mobile tactical networks is developed, to illustrate the potential and challenges of this technology. Overall, it is clear that blockchain technology provides a potential avenue for solving some problems in the tactical network context, but it is not yet clear whether it is the best such solution.
The key feature of blockchain technology is data integrity in a trustless environment: transaction or data records included on the blockchain are timestamped, cryptographically protected and stored by many distributed nodes, reducing the risk of total loss. For a sufficiently long blockchain, with a large number of nodes, the records can be considered immutable, in the sense that any tampering will be evident. This integrity can be exploited in different ways to enhance the robustness and resilience of tactical networks, and some of these are discussed in Section 5.1.
Smart contracts, described in Section 3.2, also provide opportunities for robust resource management in tactical networks, particularly in complex operational conditions where many users interact in the electromagnetic (EM) spectrum. Possible applications of blockchain to resource management are discussed in Section 5.2.
Tactical environments pose particular challenges for the introduction of blockchain technology, as devices are constrained in size, weight and power, and there are physical limitations on node connectivity. These challenges are considered in Section 5.3.
The number of crypto hedge and venture capital funds is increasing at a fast pace this year, already reaching a total of 466, despite the bearish market trend and continuing regulatory uncertainty. 96 new funds have been founded by the end of July, according to a new study whose authors believe this years number will exceed the record 156 launched in 2017.
In a year of falling prices across the board, stubborn bearish market trend and persistent regulatory uncertainty, one would think this might not be the best time to deep dive into crypto. Some, however, see opportunities. Recently released data shows that 96 new crypto hedge and venture capital funds have been founded through July 31, this year.
Prominent economist and editorial director of the American Institute for Economic Research (AEIR), Jeffrey Tucker, has urged governments and central banks around the world to let go of the idea of creating state-backed cryptocurrencies and instead focus on the soundness of the fiat system and the banking system. Leave Crypto Alone In an editorial published
The post Keep Your Hands Off Cryptocurrency, Economist Tells World Governments appeared first on CCN
Cryptocurrencies markets have been volatile and very indecisive over the last 48-hours as the entire digital asset economy lost billions in value since US regulators postponed their decision concerning the Cboe/Vaneck BTC-based exchange-traded fund (ETF) last week. This Saturday, August 11, during the afternoons digital currency trading sessions (EDT), cryptocurrency trade volumes and price values are seeing some slight recovery.
At the moment a vast number of digital assets have rebounded back a hair after being smashed down by bearish forces over the last two days. At the time of writing the entire cryptocurrency economy is valued at $219B and theres been $13.5B worth of digital assets traded over the last day. The top cryptocurrency market capitalizations are seeing some recovery after dropping very low during the early morning trading sessions. For instance, bitcoin core dipped to a low of $6,062 this morning, but around 1 pm EDT BTC/USD market valued pumped back up to a high of $6,494 per coin. However, most coins besides BTC have lost significantly more and BTCs market dominance among all 1,600+ capitalizations has crossed the 50 percent region.
At the time of publication, the price of bitcoin core (BTC) per coin is roughly $6,390 on Bi...
Yale economist Aleh Tsyvinski, who has taught economics at the prestigious Yale university for many years, has said that every investor who believes bitcoin can perform as well as it did in 2017 should invest at least six percent of their holdings in crypto. If you as an investor believe that bitcoin will perform as
The post Yale: Every Portfolio Should Have Crypto, Method Used by Billionaire Investors appeared first on CCN
African countries want to regulate cryptocurrency, but hardly any one wants to take the lead in responding to the meteoric rise of this technology and asset class. Thats according to a new report from the Togo-based Ecobank, the leading independent regional banking group that serves nearly 40 countries in West and Central Africa. The report,
The post African Regulators Taking Wait-and-See Approach on Cryptocurrency: Ecobank Report appeared first on CCN
#Findsatoshi is the latest effort to galvanize worldwide support in order to, once and for all, find the enigmatic creator of Bitcoin, Satoshi Nakamoto. The group has taken to an international crowdfunding campaign, enlisting world class private detectives from Japan to New York, and everywhere in-between.
Estonian German Neff has taken to a Russian crowdfunding site, hoping to raise nearly a quarter million dollars to finally discover the true identity of Satoshi Nakamoto, Bitcoins pseudonymous father. With funds collected, the aim is to hire private detectives from all over the world: Japan, New York, London, and Russia.
Its about time we found Satoshi Nakamoto, Mr. Neff explains. Before the new economy gained momentum and until Bitcoin did not cost nearly $20.000, digital money could have been called geek pampering. The appearance of Bitcoin is widely compared to supernova explosion. And after one has happened, some uncertainty started to take place.
After a short-lived recovery attempt yesterday, the crypto markets have seen another slump today, with Bitcoin being a notable exception
Dash CEO and former Wall Street executive Ryan Taylor spoke out about the recent Wall Street activity seen in the cryptocurrency space recently, with ICE establishing a bitcoin market and financialization coming in from other avenues of the traditional finance world. Dash CEO Explains Why He Left Wall Street to Go All in on Crypto
The post Interview: Dash CEO Ryan Taylor on Why Cryptocurrency Doesnt Need Wall Street to Grow appeared first on CCN
Theres been a lot of activities taking place with the new project developed by Bitmain called Wormhole. The team of developers just recently launched the Wormhole mainnet where the public can see the list of coins and the generated Wormhole Cash (WHC). Meanwhile, Gabriel Cardona, the creator of the Bitcoin Cash development kit, Bitbox, released a whole guide for individuals and groups so they can create tokens and crowdsales on the BCH chain.
Wormhole.cash is a project for the Bitcoin Cash (BCH) chain that provides any individual or organization the ability to create representative tokens. This means users can create tokens that can represent anything they choose like a commodity such as gold, silver, copper, and tobacco. The tokens could also be stocks, bonds, loyalty points, and even coins pegged to a fiat currency like the US dollar. Wormhole is a fork of the project Omni Layer which created and issued the very well known dollar-pegged token tether (USDT)....
The first time we saw a bear beating the hell out of somebody was in the Revenant. Then, it happened in February when bears attack knocked Bitcoin down from the $19,000-highs to the early $6,000-lows. A few months later, in June, Bitcoin revisited its previous yearly low and eventually broke it to establish a new one
The post Bitcoin Price Intraday Analysis: BTCUSD Could Retest 2018s Low appeared first on CCN
The director of the U.S. Financial Crimes Enforcement Network (FinCEN) says that the agency has seen a surge in filings of crypto-related Suspicious Activity Reports
The Satoshi Revolution: A Revolution of Rising Expectations.
Section 4: State Versus Society
Chapter 9, Part 6
Government is a law factory. It passes laws in the same manner that another type of factory extrudes metal moldingBut, whereas a factory which extrudes metal molding is providing a product which is useful to the citizens generally, and which certain citizens will purchase voluntarily; the government factory extrudes compulsion which is useful principally to the government, itself, but is purchased [through taxes and other fees] in advance by the people, who are never in a position to refuse to buy.
-Robert LeFevre, The Nature of Man and His Government
A key difference between state and society: the latter does not force people to buy products or services they do not want. Society does not require them to use central banks, to purchase law enforcement, or to finance military protection against foreign nations. People can decline that type of product altogether, or they can use a competing private supplier.
By contrast, the state compels the purchase of such products on the grounds that they are essential to the social good. Not only that, government claims that monopolies are needed to act as trusted third parties (TTPs).
At the core of the conflict between state and society lies antithetical views of TTPs. The state insists on a neutral or benevolent definition; that is, a TTP is an entity that facilitates the quality or honesty of interactions between people who invest it with trust. The description can be accurate. People can use a lawyer, for example, as an intermediary in a business deal. But a TTP is neutral or benevolent only if no one is forced to use or to finance it.
Both groups, like the cypherpunks, and individuals, like Sato...
Bitmain, the biggest crypto conglomerate in the global market, is expected to conduct one of the largest initial public offerings (IPOs) in history, alongside Visa and Facebook. $18 Billion IPO Throughout July, Bitmain, the Chinese crypto and blockchain corporation, touted its plans to initiate an IPO valued at $15 billion. It invested in multi-billion dollar
The post Crypto Conglomerate Bitmains $18 Billion IPO Will Initiate FOMO Among Investors appeared first on CCN
First, lets remember Satoshis words: We have proposed a system for electronic transactions without relying on trust
Snapping back to reality and lest we forget, cryptocurrencies including Bitcoin, Litecoin and Dogecoin are alternatives to the government backed fiat currencies. Its peer to peer, digital, not issued from a single source and entirely backed by the trust of the community. Thats why its trustless and secured not by the whims of politicians or policy makers as they like to call themselves but by complex mathematical formulasoften proof of work.
This is why the crypto market doesnt need the SEC and other regulators, though rogue elements would anyway exist, the route for self regulation is secure when there is an independent market thats not roped in anyway by the central bankers. Yes, there are millions and perhaps Trillions of dollars according to Tim Draper when institutions come in but they often tow in with the government who then use this to bait the market through excessive, innovative killing regulations. If anything, sticking to ownership, digital nature and code is law might perhaps be a safe route for cryptocurrencies.
So, while investors might have over-reacted to SEC Bitcoin ETFs delays, we must also realize that Bitcoin and most coins are down more than 80 percent from 2017 peaks. The truth is that we dont need the SEC and the rest of these government backed guys. They often mess things up and that alone irked Satoshi forcing him to design fiat alternatives, the Bitcoin. Now, for price the worst part is that the degradation might continue in coming days since this week will close as bears and perhaps even recording double digit losses from last weeks close.
Week over week, Bitcoin (BTC) prices are down 20 percent in the last week alone and trending inside a descending triangle with strong support at the $6,000 mark. So, in essence what this means is that Bitcoin dropped $2,500 after week ending July 29 and...
If you want to move a mining rig to the Hive OS 2.0 to test it
thre you will need to update the Hive host url to the one of the
public beta, you can easily do that by running the following
command on the mining rig:
/hive-config/rig.conf && hell
To switch back to the original Hive the command is this one:
sed -i 's/^HIVE_HOST_URL=.*/HIVE_HOST_URL=api.hiveos.farm/g'
/hive-config/rig.conf && hello
The price of Ether, the native cryptocurrency of Ethereum, has fallen by 15 percent in the last 24 hours to $305, as other major cryptocurrencies like EOS fell 13 percent.
Tokens have followed the price movement of Ethereum, EOS, Ripple, and other major cryptocurrencies, recording 10 to 20 percent losses against the US dollar. But, most tokens demonstrated intensified movements on the downside, with steeper drops.
The vast majority of investors and analysts have struggled to offer specific reasons to support the sudden drop in the price of major cryptocurrencies on August 11. Some have pointed towards the Bitcoin exchange-traded fund (ETF) saga, but given that positive development and news in the cryptocurrency sector have barely impacted the cryptocurrency exchange market, it is highly unlikely that Bitcoin ETF-related news have led the market to fall.
Since February, Bitcoin has demonstrated a weird but an evident pattern. Bitcoin would plummet to $6,000, initiate a corrective rally, test the $10,000 resistance level, and fall back down to $6,000. In the past six months, Bitcoin has repeated this process three times, all within the range of $6,000 and $10,000 and on rare occasions, dipping below $6,000 and breaking above $10,000.
It is entirely possible, following the findings of Tabb Group, that a market much bigger than the global cryptocurrency exchange market has continuously impacted the mid-term movement of BTC, specifically within the range of $6,000 to $10,000.
Researchers at Tabb Group have estimated the over-the-counter (OTC) market to be two to three-fold larger than the cryptocurrency exchange market, which is understandable given that large-scale investors do not trade digital assets in the exchange market due to its lack of liquidity.
Another interesting aspect of the recent price movement of BTC is that positive developments such as the entrance of the New York Stock Exchange, Microsoft, and Starbucks into the cryptocurrency sector have had minimal impact on the price trend of BTC.
A gathering in London saw the cryptocurrency community cavort with cross-dressers and samurai dwarves, all in the name of history.
Thai actor Jiratpisit Jaravijit has been released on a 2 million Thai baht (approximately US$60,000) bail following his arrest over alleged money laundering in a bitcoin fraud case. As part of the conditions for his release, the actor popularly known as Boom will be required to remain in Thailand. The 27-year-old television and commercials actor
The post Thai Actor Boom Released on Bail in US$24 Million Bitcoin Fraud appeared first on CCN
The city of Salamanca in the U.S. state of New York is reportedly establishing a moratorium on cryptocurrency mining operations in the city. This will stop crypto miners from using up all the residents power and effectively make all of them get a price increase on their utility bills, a member of the citys council explained.
The Common Council of the city of Salamanca in New York voted unanimously on Wednesday to approve Local Law No. 2 for 2018 and impose a moratorium on commercial cryptocurrency mining operations in the city, the Salamanca Press reported.
The news outlet described that according to the local law:
A moratorium would temporarily stop applications or proceedings, or the issuance of approvals or permits, for cryptocurrency mining operations in the electric service area of the city of Salamanca.
The purpose of this moratorium is for the city to have the opportunity to consider zoning and land use laws and municipal electric department regulations before commercial cryptocurren...
Facebook executive David Marcus will no longer serve on the board of U.S. exchange Coinbase to avoid appearance of a conflict of interest
If you want to get a behind-the-scenes look at your favorite cryptocurrency's price action, the order book will be your best friend.
Over the past 24 hours, the crypto market has recorded a loss of $18 billion, as major cryptocurrencies including Bitcoin, Ether, EOS, and Bitcoin Cash dropped by 4 to 13 percent. While Bitcoin ended the day with a 4 percent decline in its value, Ether, the native cryptocurrency of Ethereum, plummeted by 13 percent against Continued
The post Bitcoin and Ethereum Fall Substantially in $18 Billion Crypto Market Wipeout appeared first on CCN
Financial software developer Intuit has been awarded a patent for processing BTC payments via SMS and weve covered the details in todays edition of Bitcoin in Brief. Also in The Daily, Brave browser plans to enable BAT tips for tweets and Reddit posts, cryptocurrency is projected to constitute 5 percent of the portfolios of US investors next year, and in Thailand, a famous actor has been arrested for an alleged crypto investment fraud.
California-based company Intuit, a financial software developer, has been awarded a patent for processing bitcoin core (BTC) payments via text messages (SMS), according to a filing published by the US Patent and Trademark Office on August 7. The patent that outlines a system to transfer BTC funds by sending text messages on smartphones was filed back in 2014. According to its abstract:
The method includes receiving, by a payment service, a payment text message comprising a payment amount and an identifier of a payee mobile device, validating the payment text message based on a payer balance of a virtual payer account maintained by the payment service for the payer  transferring, in response to creating the virtual payee account, the payment amount from the virtual payer account to the virtual payee ac...
On Thursday, investors awoke to a promising sight a $300 candle that brought Bitcoins price off a $6,150 low so some thought that the worse for over for the market. But, as some investors were lured into a false sense of security, the market fell even further to establish new year-to-date lows.
As some like to describe the current state of the cryptocurrency market, theres blood on the streets! Taking a glance at cryptocurrency prices as it stands, it becomes quickly evident that blood of may as well be on the streets of this nascent industry.
On Friday afternoon, Bitcoin unexpectedly fell by over $350 dollars, from $6,425 to a low of $6,025 on the back of an influx of selling volume. This bearish movement quickly cascaded throughout the whole market, with altcoins experiencing a similar decline. With this move, the valuation of all cryptocurrencies has established a new year-to-date low at $209 billion.
As is a common theme in any market, investors did their best to draw connections to announcements and this price drop. Some speculated that this was a direct result of the SECs recent verdict to delay a final decision on the fate of the VanEck and SolidX ETF. Many saw this ETF as a long time coming, as cryptocurrency industry leaders have been trying their hand at creating this form of an investment vehicle for years now.
Stepping back, one could note that this move is likely courtesy of an extended downtrend off Bitcoins most recent peak at $8,500. As NewsBTC editor and crypto analyst Joseph Young noted in a recent tweet, why should an announcement expected by many lead the market to tank on such a drastic scale?
Why would the delay of a Bitcoin ETF, which was expected by the vast majority, lead the market to tank suddenly by a massive margin? When in fact news hasn't been affecting crypto exchange market as seen in the case of NYSE/ICE?
OTC sell-off or just strong downtrend more likely.
Joseph Young (@iamjosephyoung)...
South Koreas Ministry of Science and ICT will promote the training of blockchain technology as part of an effort to prepare young people for what it calls the Fourth Industrial Revolution. Blockchain technology is included in courses that have recently been announced by the Ministry of Science and ICT. The Ministry of Science and ICT Continued
The post South Korean Government to Promote Blockchain Training as Part of 4th Industrial Revolution appeared first on CCN
The rout has continued into the weekend as crypto markets plummeted to another low for the year. Another $20 billion has been dropped from markets as they slid below $210 billion for the first time in nine months.
Bitcoin failed to hold support at $6,400 and has dropped 4.7% on the day to $6,150. If the bears do not release their stranglehold it could easily fall below $6k and into dangerous territory. This is bad news for Ethereum which is at its lowest point for a year, down 11.4% to $320.
Altcoins are getting smashed with the majority of them dumping double figures. In the top ten, Ripples XRP is taking the biggest hit with a nosedive of 10.8% to $0.30, almost back to the price it was before things took off in December. Litecoin is also suffering heavily with a 10% slide to $56.60 and another yearly low. The rest are down between 6 and 8 percent as stablecoin Tether climbs the market cap charts.
Neo is in a world of pain with a 16% crash to $18, its lowest point since September 2017. Likewise with Iota, down 15% to $0.526, and Tezos shedding 14% to $1.40. All coins in the top twenty are in a bad way, Dash and Ethereum Classic have also lost double figures and the rest are not far behind. The only altcoin in the green in the top one hundred at the moment is Nxt which is up 8.4%. Metaverse ETP and Huobi Token are making marginal gains but nothing significant.
The only upside for Bitcoin is that its market dominance is now over 50% as the altcoins get dumped. The one year chart is looking very bubble like now as all altcoins return to their mid-2017 levels.
Total crypto market capitalization has dumped 7% on the day to around $209 billion. A new 2018 low was reached a few hours ago when $20 billion left the markets in 18 hours plunging them down to just over $207 billion. Trade volume has remained at $13 billion but it is all one way at the moment out of the cryptocurrency door. The words fomo, lambo and moon are now distant memories as hodlers lick their wounds and uninstall their Blockfolio app....
After running the Listia P2P marketplace for over 9 years, the Ink Protocol team realized that the problems they were trying to solve could be generalized across all types of marketplaces. Building on those years of experience and learning from over 100M items traded on Listia, they launched a decentralized transaction system that can be used on any marketplace. The system includes self-sovereign reputation, decentralized escrow, and dispute resolution.
Ink Protocols decentralized transaction system is a great way to focus, as Vitalik recommended. Taking this tip a level higher, the team projected that a self-owned reputation that can move from one marketplace or app to another will change the way people buy and sell online. Ink Protocol took these two critical points into account as well as a third, 2M items listed using XNK ensures mass adoption, making XNK one of the largest real-world consumer applications on a blockchain.
Seller reputation is an important asset because buyers often choose sellers on the basis of their reputation. This is particularly true when the quality of the goods or services are hard to measure and the parties cannot perfectly predict the outcome of the transaction. As a consequence, the seller will be mindful of building and maintaining a good reputation through the information that buyers have about the seller, including previous transactions and the reports of other buyers.
Buyers will often pay higher prices from a seller with a better reputation and prefer marketplaces like eBay, Amazon, and Etsy, rather than taking a risk with lower prices from a seller with a lower reputation. As a result, sellers work extremely hard to maintain a pristine seller reputation through great customer service, fast shipping, and quality products. Craigslist, OLX, and Facebook Marketplace have an extremely wide reach and are free to use. There are no transaction or listing fees in mos.....
Bitcoin has long been at the forefront of the crypto industry; and it seems with the markets most recent move downwards, Bitcoins dominance over the rest of the market may continue, or at least for a little while longer.
The crypto market dropped by a collective 7% in the past 24 hours, but Bitcoin has been doing better than others. At the time of writing, Bitcoin has currently posted a loss of 5%, while cryptos like Ethereum, XRP, and Litecoin have fallen by over double that percentage figure. However, the three aforementioned altcoins arent alone in their double-digit decline, with dozens, if not hundreds of altcoins seeing 24-hour declines that eclipse 10%.
This widespread capitulation in altcoins has led Bitcoins dominance figure to surpass 50% for the first time since Decembers BTC boom.
But, this was not an overnight occurrence, with altcoins seeing a dominance pullback for the better part of three months, rising from a May low of ~36% to 50% as we stand today. Todays market drop only helped this figure move over the ever so important 50% level.
While Bitcoins relative strength surprised more than a few investors, to an assortment of experienced traders, this comparable astronomical rise was to be expected.
As reported by NewsBTC earlier this week, Tom Lee, the head of research at Fundstrat, explained why BTC has been seeing a dominance run. Speaking to CNBC viewers, the Fundstrat executive highlighted Bitcoins history from a market perspective, drawing attention to the assets historical command over the industry, as it held 80% of cryptos market share for just shy of 8 years.
Lee went on to draw attention to last years altcoin upswing, where ICOs and overly-ambitious projects became a crypto investors preferred investment vehicle. This resulted in Bitcoins dominance falling to an all-time low at 37%, with many altcoin proponents expecting Bitcoin to further recede into obscurity. But against all odds, altcoins recently saw a substantial pullback as the Bitcoin permabull explained in the following statement:
Bitcoins dominance has bee...
Yet another update from sp on his open source and free fork of
supminer (ccminer) called Raven x16r/x16s Spmod-git #7 (source) with a bit more extra performance
thanks to optimizations done to hamsi/Echo/echo-simd.
support should be fixed in this release as well as it was broken in
the previous, but our quick tests in a few pools show that no
shares are being accepted low difficulty or invalid shares getting
reported by the pools, so it may need some more work. X16S
support is now really fixed, make sure you download the miner again
if you have downloaded the initial binary that was released for the
The ultimate goal of this miner is apparently to take the top spot in terms of X16x performance from the current leader z-enemy 1.15a and this release is a step closer to that goal. Our tests on GTX 1080 Ti show that Raven x16r/x16s Spmod-git #7 is still a tiny bit behind in terms of pure performance, however you should not forget that the z-enemy miner contains a 1% developer fee built-in and that already makes things pretty much even on actual performance. It is always good to have some competition as it drives things forward.
The Japanese financial regulator has finished the on-site inspections of 23 cryptocurrency exchanges. The agency found many problems and has released a report outlining them. The regulator will use the findings to tighten its review procedures of new crypto exchange applicants, including over 100 companies that have been waiting to be reviewed.
Japans top financial regulator, the Financial Services Agency (FSA), announced Friday the results of the on-site inspections of 23 cryptocurrency exchanges operating in the country.
Seven out of the 23 are fully licensed crypto exchanges; the rest are deemed dealers, which are exchanges that have been allowed to operate while their applications are being reviewed by the agency. The FSA started inspecting these exchanges after the hack of Coincheck in...
Bitcoin currently makes up 50 percent of the whole cryptocurrency market capitalization. Soon previous 03: 00 UTC on August 11, CoinMarketCaps bitcoin dominance speed an indicator that monitors the percentage of the total cryptocurrency market capitalization contributed by the leading cryptocurrency reached 50 percent for the very first time since December 19th, 2017. At that time, bitcoins market capitalization currently records $105, 785, 552, 545, which will be about $901 million more than the market capitalization of each other cryptocurrency combined. Chart via CoinMarketCap. The preceding chart shows bitcoins dominance speed has been on a constant slope on the last several months, currently representing a 14 percent increase from May 1st.
At the same time period the market dominance of the rest of the crypto-currencies are largely been on the decline. Conditions were substantially different the last time bitcoins market dominance was over 50 percent. On Dec. 19th, the normal cost of BTC was $17, 605.81 across exchanges an 65 percent greater cost compared to cryptocurrencys value today, in accordance with the CoinDesk Bitcoin price index. Picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
This article is intended as news item to notify our subscribers of different events and developments that impact, or which could in the future affect, the value of the cryptocurrency described above. The info contained herein isnt meant to provide, and it doesnt provide, adequate info to create the basis of an investment decision, and you shouldnt rely on this info for this purpose. The info presented herein is accurate only as of its date, and it wasnt prepared by a research analyst or other investment professional. You need to seek additional information concerning the merits and risks of investing in any cryptocurrency before choosing to buy or sell any instruments. Combine 10, 000+ traders that come to us to be their eyes on the charts, supplying all that is hot and not in the crypto markets.
COMMENT: Dear Mr. Armstrong; I suppose we have to learn the hard way. Our electronic currency system crashed here in Zimbabwe. Many people were using it because of the old hyperinflation. The argument that private money would be better than government made a lot of sense here given the history. Most people were using US dollars and just about all other currencies from surrounding countries. We lived exactly the experience you have described when the confidence in government collapses. Yet now, many are wondering if this cryptocurrency is just another way to undermine the economy.
REPLY: I believe the vast majority of the world has never looked at exactly what was taking place in Zimbabwe. The new mobile money emerged as the leading transaction platform in Zimbabwe because of the previous hyperinflation. However, its weaknesses came into focus after the dominant EcoCash network in Zimbabwe collapsed for two days. Consumer businesses were left floundering in an already difficult economy. Many people were just locked out of the economy with no alternative.
EcoCash was competing against smaller platforms run by state-controlled telcos NetOne and Telecel Zimbabwe. The people preferred a privately run system the to the government. EcoCash was conducting business with more than eight million registered. It was also being used by expat Zimbabweans in South Africa and Botswana. This has obviously exposed the weakness of the electronic currency market. Take out the power grid and the economy will collapse overnight.
A number of people have asked if I ever looked at Hyman Minskys concepts in forecasting the economy. Minskys Financial Instability Hypothesis failed not because of the fact that he attempted to interject cycles and even listened to Schumpeter, the problem was that he was an economist and not a trader. His own attempts to devise a mathematical model of his hypothesis were unsuccessful. The first of Minskys two papers in the AER set out a mathematical model of a financially driven trade cycle developed during his Ph.D. from Harvard in 1954 but he never attempted to develop the model further.
There have been many people who have claimed they used his model and were able to forecast the 2007 crash. I know many traders around the world in a professional capacity and I do not know ANYONE who did not see the crash coming. Being able to say this is a bubble and it will end badly was the topic of the movie The Big Short. Being able to see such a bubble is by no means unusual for many who are seasoned. I know of no profession who bought into the whole Bitcoin nonsense of how it would replace the dollar, end central banks, and start a new age all within a matter of months. The professionals just laughed because they know such a change takes decades not months.
Minskys observations of the Great Depression are seriously flawed. The primary problem was that they were focused domestically. They did not take into consideration the entire world economy. His hypothesis of financial instability argued that a financial crisis is endemic in capitalism because periods of economic prosperity encouraged borrowers and lenders to be progressively reckless. This excess optimism creates financial bubbles and then later busts. Therefore, capitalism is pr...
Bitcoin (BTC) now makes up 50 percent of the entire cryptocurrency market capitalization.
0.00010 BTC = 0.63 USD
1.00 USD = 0.00016 BTC
The World Bank is taking a step into the brave new world of digital finance to sell the first-ever bond to be issued entirely using blockchain technology, the bank announced Friday. More than just funds, the World Bank aims to gain experience using blockchain -- a digital public registry of transactions -- that could lead to a golden future for financial services for developing nations, a bank official told AFP.
Analysts suggest that Nvidia will see significant growth in its gaming and servers sales, which will overcome deficiencies due to decreased crypto mining activities
WeChat, a messaging, social media and financial services app owned by Tencent Holdings Limited, has deployed a blockchain electronic invoice system at Shenzhen Guomao Rotary Restaurant, making the city of Shenzhen the first in China to issue invoices with blockchain technology. The blockchain invoice process, which encompasses payment, invoicing and reimbursement, was created in partnership Continued
The post WeChat Trials Using Blockchain Tech to Reimburse Employee Expenses appeared first on CCN
Cryptocurrency-collateralized loan provider SALT Lending has announced that it is now operational in 35 U.S. states after receiving regulatory approval to expand its network to 20 new localities. The Colorado-based firm is perhaps the best known of several companies that allow borrowers to stake their bitcoin and other cryptocurrency assets as collateral when applying for Continued
The post Cryptocurrency-Backed Loan Service SALT Lending Expands Network to 35 States appeared first on CCN
Gerald Celente Cryptocurrency Bubble Bust? Heres the Trend Video Video Source
The post Gerald Celente Cryptocurrency Bubble Bust? Heres the Trend (Video) appeared first on The Daily Coin.
Right after Washingtons move to impose sanctions that will restrict Irans access to US currency, reports came out that Tehran is speeding up the project to develop a national cryptocurrency. Officials in the Islamic Republic believe the state-issued coin could help circumvent the restrictions imposed by the Trump administration.
Faced with renewed US sanctions, Iran is accelerating the development of its national crypto as the oil-rich nation is looking for ways around the American restrictions. Despite calls from partners and signatories to the Iran nuclear deal, like the EU, Russia and China, Washington reimposed measures targeting the ability of the Islamic Republic to acquire...
While the cryptocurrency market saw a breathtaking run-up in 2017, with the number of cryptocurrency proponents experiencing a similar increase, many consumers are still skeptics of this nascent industry.
Cryptocurrencies arguably hit the mainstream last year, as nearly every media outlet covered Bitcoins astronomical rise from near-obscurity to $20,000. However, according to a Fortune report, investment into crypto assets has not seen the widespread adoption that crypto advocates would like to see.
This sentiment comes via a 2,000-person survey from cryptocurrency app Gem and Harris Insights, which revealed that only 8% of Americans hold a personal stake in cryptocurrencies. Compared to investment adoption in legacy markets, whereas approximately 52% of Americans own stock in publicly-traded firms, the 8% figure seems rather dismal.
Moreover, the same survey revealed that 41% of respondents noted that they would never consider investing in digital assets, not the most promising sign for an early-stage field to say the least.
The survey also revealed another interesting indicator: individuals who earn $100,000 annually are less likely to invest in cryptocurrencies compared to those with lower salaries. The claim was backed up by figures found by the survey, where 6% of those who earn over $100,000 a year own cryptocurrencies, while 11% of those who earn $50k-$75k have investments in this asset class. Speaking more on the manner, Micah Winkelspecht, the CEO and founder of Gem, stated:
The cryptocurrency space is still in its Wild West phase, so theres potentially some of that (risk taking) going on. When you have less to protect, you are more willing to take the risk.
These figures may lead some to ask, why are investors hesitant to invest into cryptocurrencies?. Taking a look at the state of the market, it becomes clear that prospective investors have had upwards of four common qualms with the nature of cryptocurrency investment vehicles.
Firstly, the presence of volatility, where traders are subject to constant fluctuations in the price of their holdings on a 24/7 basis. Secondly, the...
Bitmain has announced the launch of two internet routers that can mine Dash and Siacoin. In a tweet shared online, the company said the new miners, known as the Antrouter R3-DASH and Antrouter R3-SIA, will function as internet routers that can mine cryptocurrencies at the same time using the devices idle processing power. The routers Continued
The post Bitmain Releases New Crypto Mining Internet Routers for Dash and Siacoin appeared first on CCN
British police have warned the public about crypto-related fraud, revealing $2.5 million worth of losses this summer
The bitcoin price dipped below the $6,000 mark on cryptocurrency exchange Bitstamp, forcing the flagship cryptocurrency to a six-week low. The market had made a lukewarm recovery earlier in the day, with bitcoin creeping up to $6,600 and other large-cap cryptocurrencies following suit. However, as CCN reported earlier today, bitcoin remains trapped in a severe Continued
The post Newsflash: Bitcoin Price Tumbles to $5,995 on Bitstamp as Market Hits 6-Week Low appeared first on CCN
Japans Financial Services Agency, has published the results of its on-site inspections of crypto exchanges, saying it plans to bolster regulatory oversight
Most cryptocurrencies keep suffering more and more losses - are we in for a huge fall, as some analysts are predicting? Lets take a look at the charts
The Financial Crimes Enforcement Network receives more than 1, 500 reports each month from financial institutions seeing cryptocurrencies, a top official said Thursday. Kenneth Blanco, FinCEN Director, speaking at the Chicago Kent Block Tech Conference, discussed the role his agency takes in regulating cryptocurrencies. He noticed that although cryptocurrencies can prove beneficial for specific use cases, they also create opportunities for poor participants like financial criminals, terrorists and rogue states. Blanco highlighted the importance of the suspicious activity report filings a sort of document that financial institutions must file following a suspected incident of cash laundering or fraud. FinCEN receives more than 1, 500 SARs each month seeing questionable activities involving cryptocurrency transactions, he said.
These reports come from traditional financial institutions and cryptocurrency exchanges, he said. He said: It had been filings by the two banks as well as other virtual currency exchanges that supplied critical leads for law enforcement. This info included beneficial ownership info, additional action attributed to the market of that we were previously unaware, jurisdictional info, and also additional financial institutions that we could contact for leads. All this was accessed through SARs as well as the supporting documents submitted by the financial institutions. . Blanco also discussed FinCENs part in the crypto area more broadly, explaining that the regulator has worked for decades in the cryptocurrency field, with a concentrate on exchanges, administrators along with other persons involved with money transmission related to cryptocurrencies.
He warranted the agencys legal status in the field by imagining that cryptocurrencies behaving as a replacement for fiat currency are insured with a 2011 principle FinCEN issued concerning money service companies that provide money transmission services. Additionally, Blanco noted that the agency has been working closely with some other regulators, such as the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission on policy development and regulatory procedures related to cryptocurrency. Blanco referenced first coin offerings throughout his remarks, noting that this rapidly growing area has accumulated a lot of latest public attention. He especially cited the fraud around the fundraising method as a domain of focus.
He continued: Even though ICO arrangements vary and, dependant upon their structure, could be subject to different authorities, one reality remains absolute: FinCEN, and our partners in the SEC and CFTC, anticipate businesses involved with ICOs to meet all their obligations. We stay committed to taking appropriate action when these obligations arent guaranteed, and also the U.S. Monetary system is put in danger. . Kenneth Blanco image through the U.S....
If the bitcoin price falls below the important year-to-date support level, the dominant cryptocurrency will suffer irreparable damage in the marketplace. This is the opinion of Renaissance Macro Research, quoted by CNBC on Thursday Aug. 9. Bitcoin May Be Permanently Impaired According to the financial analysis firm, what bitcoin is facing right now could be Continued
The post Game Over for Bitcoin, Claims Bearish Technical Analyst appeared first on CCN
Over the last two weeks, bitcoin saw its longest streak of red
days since 2014. The volume was modest and expansive on the drop as
the price managed to lose 25% in value in just 10 days. At the time
of this article, the market is testing the strength of the support
near the bottom of the macro trading range (TR):
Figure 1: BTC-USD, 1-Day Candles, Macro Trading
As noted in several previous articles, this is a very important stronghold for the bulls. If bitcoin's price does not manage to hold this support, the market will undoubtedly search lower values in an attempt to garner significant market demand.
Previously, I discussed the possibility of the recent move to $8,400 as a so-called Sign of Strength (SoS). Typically, a SoS would like to see an approximate 50% retracement for it to be considered a healthy, bullish move. However, in our case, we saw a 100% retracement.
Not only did the market retrace 100%, but the volume and price spread that accompanied the move back to the bottom of the TR was on steady volume and a wide candle spread. Steady volume paired with a wide candle spread is a sign that the market is lacking demand and that the sellers are overwhelmingly dominating the market:
Figure 2: BTC-USD, 12-Hour Candles, Selling
The chart above shows just how dominant the sellers were on this latest shove. You see next to no buyers stepping in as the volume and price spread continue to expand on its path to the local bottom.
This movement is not in line with what we would expect to accompany a SoS off the bottom of TR. This is an inherent sign of weakness in the market and something that shouldnt be taken lightly. Granted, in the grand scheme of the market, the whole volume profile is still consolidating:
Figure 3: BTC-USD, 3-Day Candles, Volume
Although the o...
Trading volume on Turkey's cryptocurrency exchanges surged Friday as the country's fiat currency plunged to record lows on economic jitters.
Exchange-escrowed trading directly between cryptocurrency buyers and sellers is growing in popularity in India following the crypto banking ban imposed by the countrys central bank. One local exchange, in particular, is seeing tremendous response from Indian traders for this service as tens of thousands of new users have signed up in a month.
Since the countrys central bank, the Reserve Bank of India (RBI), banned banks from providing fiat service to crypto companies, local cryptocurrency exchanges have come up with solutions for their users to be able to withdraw Indian rupees. One popular solution is exchange-escrowed...
When you visit Overstock.com, youll still be met by advertisements for discounted Martha Stewart Rugs and a coupon for an extra 10 percent off already-clearanced bedroom furniture. However, theres no longer any denying that the firm is not primarily an e-retailer its a cryptocurrency company now. Cryptocurrency Startup tZero Now Worth More than Overstock Continued
The post Overstocks Cryptocurrency Subsidiary is Now Worth More than the Entire Company appeared first on CCN
Cybersecurity firm Duo Security has released an analysis of the botnets of Twitter.
During a lengthy paper on the topic, the team behind the research identified over 15,000 bots devoted to scamming users out of cryptocurrency.
Researchers at Duo Security have identified a massive botnet attempting to scam Twitter users out of their cryptocurrency investments.
The premise is simple. Impersonate a high-profile member of the community on Twitter. Wait until the real person posts something. Follow it up with a spam post advertising some kind of crypto giveaway. All of this happens automatically, with no need for human input.
Alarm bells should immediately ring since the spam accounts request a payment be made to them to receive more back in return.
If you follow whats colloquially known as Crypto Twitter, the research by Duo Security will hardly be a revelation to you.
It has become common practise for high-profile members of the cryptocurrency community to include phrases after their usernames such as Not Giving Away ETH to try to minimise the harm caused by such botnets. The profile of Ethereum co-founder Vitalik Buterin is one such example:
This is a *great* guide to what imaginary/complex numbers are:https://t.co/FyXOHdjnIA
Vitalik Non-giver of Ether (@VitalikButerin) August 10, 2018
Even journalists connected to the space have been targeted.
NewsBTC reported earlier this year on the example of Olga Kharif and Lily Katz who cover cryptocurrency topics for Bloomberg. The pair had their profiles spoofed by what are most likely bots trying to elicit payments from unsuspecting followers.
What might be surprising, however, is just how infested Crypto Twitter is with these bots and how sophisticated they are getting.
The regulators have awoken. SEC Director William Hinman introduced
novel concepts to the securities law analysis such that sellers
of digital assets may have an escape valve. Yes, even if their
initial sale triggered securities laws, later sales may not. The
industry should not move forward without careful exploration of
First order of business: Can digital assets change their colors? As outlined by Global Digital Finance, a digital asset can be a financial asset token (potentially coded as a security), a payment token (Hinman used the term coin), or a consumer token (Hinman used the term token). The relevant question is not whether an asset can change its token type, but whether the latter two types a coin or token in Hinmans words can ever become securities.
Director Hinmans discussion of Scotch proves instructive.
The SEC director carefully teased out a distinction between a consumer item and its manner of sale. The ultimate takeaway: Whisky is never a security, but its sale can trigger securities laws. It would be ridiculous to say whisky morphs into a security because of how it is sold; it always remains a non-security consumer item.
Replace whisky with coin or token and the logic remains sound. It makes no sense, then, to say a consumer or payment token can morph into a security. That is, unless the code itself changes such that the code itself represents stock or another type of security instrument.
This is more than semantics; precision matters. Following the above logic, developers need not fret about doing their job. So long as a developer creates a consumer or payment token, the developer does not create a security or anything that can morph into one. Activity outside of coding will be what makes securities laws applicable. This distinction should give comfort to the builders out there. Code without worry.
Activity outside of coding will be what makes securities laws applicable.
Anyone who wants to sell, however, should worry. The sale may inadvertently trigger securities laws. Purchasers in any sale will form expectations. The sales process must manage these expectations so that buyers do not think they will profit from the m...
Blockchain interest group Coin Center carries on to believes several cryptocurrencies look like securities by law, and should be controlled as such. Peter Van Valkenburgh, the organizations director of research, published a brand new report Friday arguing that some cryptocurrencies follow the often cited Howey Test and act as investment contracts. As such, he wrote, they must be treated as securities. The report updates a 2016 version, which laid out a potential framework for regulators in determining whether a given cryptocurrency should be a security in accordance with the Howey Test. The framework examines 3 variables that Valkenburgh considers are essential for determining if crypto currency is security: distribution, decentralization and functionality.
ICOs raised $46 million in 2016, less than one 10th of the greater than $5 billion raised in 2017. Additionally, it gives more in depth explanations of alt coins and how they might fit into the framework. Valkenburgh also notes the growth in airdrops and ERC-20 tokens, writing that many network, most prominently ethereum, are intended to empower their users to produce further bespoke tokens at the top of the parent network. The minting and transmission of those new tokens as well as their use is closely policed and clarified by the consensus mechanism and blockchain of the underlying network. .
Like the last version, Valkenburgh then summarizes potential risks to investors, providing suggestions on the way to shield them without damaging innovation. House frame picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
FinCEN receives more than 1,500 reports every month from financial institutions regarding cryptocurrencies, a top official said Thursday.
Hardware wallet manufacturer Bitfi is this years recipient of the Pwnie Award for the Lamest Vendor Response. Bitfi Gets Pwnies Award for 'Lamest Vendor Response' https://t.co/TUd6w24fQZ pic.twitter.com/mZKjomEOYh Eric Vanderburg (@evanderburg) August 9, 2018 The award, which is given to vendors who handle a security vulnerability in the worst way possible, was awarded based on Continued
The post John McAfees Unhackable Bitcoin Wallet Bitfi Wins Lamest Vendor Response CyberSec Award appeared first on CCN
For the past several months the cryptocurrency community has been discussing the IMMO reserve cryptocurrency project. At different times, in one or another way IMMO topics involving influential personalities as Vitalik Buterin, Lon Wong, Jimmy Song, Tim Draper, Simon Cocking and other experts were coming out. According to some media reports, some of the employees of G20 financial ministries are also monitoring the development of IMMO.
What is so unusual about IMMO that has attracted the attention of so many influential experts and has become a subject of discussion at the level of finance ministries? Until recently, this could have only been guessed. But thanks to a newly leaked internal document, we have the opportunity to learn some details about the mysterious project. The IMMO project is a reserve cryptocurrency, which is basically secured by valuable resources. This, however, could end: another competitor of the fiduciary monetary system, which wants to turn the world upside down and establish its order. To allow the slightest success in the implementation of the objectives of IMMO would be impossible, if not for one fact
Management and development of IMMO will gather High1000 a decentralized cryptocurrency community consisting of experts and evangelists
As it became known from the published document, the main governing body of IMMO will be High1000. High1000 will vote for certain changes in IMMO, being the guarantor of the rights of all investors in the project. Members of this community will receive bonuses depending on their level of involvement and awareness of the project. But it is not so easy to get into High1000, as only existing members can process and approve incoming applications and this is possible only if certain criteria are met.
Is this community not available for ordinary mortals of the cryptocurrency world? Or High1000s role in the concept of IMMO has inflated and the authority of its members is exaggerated? Im going to find out answers to those questions empirically, by going through all the procedures that are prerequisite to join and get a certain rank within the High1000.
Step one: Filling the Application Form
It was not too difficult to find at least some traces leading to IMMO. Even prior to my research, a company called IMMO.FOUNDATION with headquarters in Prague, Czech Republic, could be found on LinkedIn. The company description contained ...
A former Australian cricketer has received criticism over his decision to publicly endorse an initial coin offering (ICO) platform. Michael Clarke tweeted his support for Brisbane-based Global Tech earlier this week.
Two days ago, the former Australian cricket team captain took to Twitter to promote a company looking to create a platform described by SmartCompany as part social network, part cryptocurrency exchange.
Michael Clarke (@MClarke23) August 8, 2018
In the tweet, Clarke included the message, exciting times ahead along with a marketing image from Global Tech. The image depicts the former cricket star with the quotation:
I am really excited to be involved with Global Tech. Their ambition and drive is something that I resonated with straight away and I cant wait to learn more about blockchain technologies.
Since posting the image, Clarke has received an intense backlash from both the cryptocurrency community and fans alike. Many questioned why someone with little to no prior experience in the tech industry would risk their reputation on an ICO given the funding methods track record for fraud and failure.
One particularly amusing response to the endorsement was from John Hempton. The prominent investor suggested to the former cricketer that sandpaper would be a better investment. He was, of course, referencing the recent Aussie cricket scandal in which members of the national team had been found using...
This week an individual revealed he had completed the first trustless swap by trading on-chain bitcoin cash (BCH) for off-chain bitcoin core (BTC) using Alex Bosworths submarine swap protocol.
The decentralized cryptocurrency bitcoin cash (BCH) was traded over the Lightning Network this week for off-chain bitcoin core (BTC). According to an individual on Reddit named u/Darkdeepths, he says hes been fortunate to see Bosworths submarine swap testing and decided to test the protocol himself. The submarine swap protocol is an atomic on-chain and off-chain trading platform created by Bosworth that allows a person to use on-chain funds to pay for an off-chain Lightning invoice. Users can test the protocol with testnet coins and the process was recently used by Jason Wong for an on-chain litecoin (LTC) transaction traded for an off-chain BTC transaction. The Reddit user Darkdeepths decided to utilize bitcoin cash for the experiment two days ago....
Blockchain advocacy group Coin Center still believes some cryptocurrencies are securities by law, and should be regulated as such.
The new Bminer also introduces support for mining Zhash (Equihash with parameter set 144,5) based coins and that also makes it more attractive to wider audience of miners that are switching to algorithms not being supported by ASIC miners. An example of popular crypto coin that uses this particular variation of Equihash is Bitcoin Gold (BTG), though there are others as well. The other let us say minor update is the addition for support fore reported hashrate feature on ETH pools. Do not forget that Bminer is a closed source Nvidia GPU miner available for Linux and Windows in the form of pre-compiled binaries and that there is a 2% development fee for Bytom (BTM), Equihash and Zhash coins, 0.65% for Ethash and 1.3% for dual mining Ethash and Blake.
The Tezos Foundation will encourage educational and scientific projects by issuing grants to four research institutions in the fields of blockchain and smart contracts
The fact that great responsibility accompanies great power has
become crystal clear in the blockchain world. While blockchains are
most commonly connected with commerce, the potential impact of
distributed ledgers is being discovered in fresh sectors
In the most recent episode of the Distributed Dialogues podcast, a collaborative show between the Lets Talk Bitcoin Network and Distributed Magazine, blockchains better side was on display. The show explored three different perspectives on how the technology is being used, not just to raise crypto value, but to help humanity rise up.
Alex Gladstein, chief strategy officer at the Human Rights Foundation (HRF), explained that organizations optimism about blockchain technology. HRF is a nonpartisan, nonprofit organization that promotes and protects human rights globally, with a focus on closed societies.
According to Gladstein in his interview with the shows co-host Rick Lewis, about 90 countries, with a total population of about 4 billion people, currently lack the checks and balances that a more open society would have.
Gladstein believes that decentralized models such as blockchains and cryptocurrencies can make a world of difference for this large population whose rights are routinely violated. Its part of a nascent field he calls demtech, short for democracy tech, and its development comes with an unexpected bonus.
Demtech would be getting power back in the hands of the people, he said. Its not really out there yet but its an opportunity, and whats cool is you can probably make a lot of money in this space. When you talk about decentralized money networks, decentralized VPNs, censorship-resistant money and communications, I think theres going to be huge demand for that Theres tremendous opportunity to both impact the planet and make a lot of money, which is kind of a first for the human rights space.
Brian Behlendorf is the executive director of Hyperled...
Bitmain is going public in China. The IPO might make it one of the most valuable startups, cryptocurrency or not, to ever debut on the public markets.
George Gilder is the archetypal disruptive futurist author. Unlike many a denizen of Silicon Valley, Gilder is a theist who possesses a teleological view of knowledge and power, championing the idea that the all is not directionless, but is headed somewhere ultimately meaningful. As such, hes been a noted proponent of intelligent design.
In his long and influential career (hes 78), Gilder has always been a writer given to aphorism and oracular pronouncement. Sometimes these nuggets are profound and suggestive. They make you feel smart, like Neo about to control the Matrix, just by reading them. But sometimes they leave a reader befuddled as to what the heck Gilder might even be talking about, much less whether it is true or not.
Nevertheless, in previous works Gilder has found a way to weave his insights and maxims together into powerful and coherent arguments. This is most evident in his famous book, Wealth and Poverty (1981), where he argued for the then-new idea of supply side economics, and advanced a moral case for capitalism.
For an updated take on Gilders wonderful, Zeitgeist-contrarian conception of money, politics, knowledge, and power, check out Knowledge and Power (2013) and The Scandal of Money (2016). In these, and in his new book Life After Google:The Fall of Big Data and the Rise of the Blockchain Economy, Gilder adroitly incorporates his theistic, techno-triumphalist take on the universe.
Perhaps because he is attempting to pull together a thesis from observations made on the messy edge of technological innovation, Life After Google, feels a bit more scattershot than what has come before. Some chapters are excursions into the weeds that dont contribute much to the overall direction of the book beyond serving as ding-dongs of the bell of doom that Gilder is ringing for our Google and Facebook dominated information culture.
Yet in the end, Gilder makes a compelling case that the information revolution is moving into an age of decentr...
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