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roadrunner last won the day on June 4 2018

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  1. Centre Consortium has blacklisted an ethereum address holding $100,000 in USDC, a move that the entity says was “in response to a request from law enforcement.” A joint venture between Circle and Coinbase, Centre is the issuer of the dollar-pegged USDC stablecoin, which runs on the Ethereum blockchain. It may be the first time that an address has been blacklisted. According to a record of transactions on Etherscan, Centre called a “blacklist(address investor)” function on the address in question. The action effectively froze all the money in the address. It’s not clear who owns it. Blacklisting means an address will no longer be able to receive or send USD Coin (USDC) through the stablecoin’s smart contracts, Centre explains on its website. All USDC balances held in blacklisted addresses may be lost forever, it adds. “Centre can confirm it blacklisted an address in response to a request from law enforcement,” a Circle spokesperson, speaking on behalf of Centre, was quoted as saying by industry media. “While we cannot comment on the specifics of law enforcement requests, Centre complies with binding court orders that have appropriate jurisdiction over the organization,” the spokesperson said. Centre’s relationship with government authorities is something that throws into doubt the “myth” of decentralization commonly associated with cryptocurrency. It shows how heavily government whims have been imposed upon investors and exchanges. This new wave of regulation poses a contradiction in that some of cryptocurrency’s strongest traits have always been privacy and autonomy. Now, as Centre demonstrates, individuals looking to operate in an insular system, away from a central bank and state oversight, are increasingly confronted with new top-down demands, which include the freezing accounts. However, the blacklisted address appears to have a shady history. A comment to the address alleges: Hello unknown thief, you are in contact with this eth address 0xEeC84548aAd50A465963bB501e39160c58366692 and you stole 10,000 Loopring Coin (750 euros) from my wallet. I am now giving you a chance to send the 10,000 Loopring Coin back to me. You already know my [ethereum] address. If you do not do this, I will report you anywhere with your two known addresses. Officials at Centre did not disclose the reasons that led to the blacklisting, as demanded by the law enforcement agencies. What do you think about Centre blacklisting this address? Let us know in the comments section below. The post Centre Obliges Government Request, Freezes Address With $100,000 USDC appeared first on Bitcoin News. View the full article
  2. The Chinese government and the country’s central bank, the People’s Bank of China (PBoC), are currently in the midst of testing a digital yuan or central bank digital currency (CBDC). Now the Chinese ride-hailing corporation Didi Chuxing will be trialing the newly developed digital yuan in a “strategic partnership.” Whether people want to believe it or not, the digital yuan is coming soon, and the PBoC has been steadily working on the project for years. Cryptocurrency enthusiasts have heard rumors about a digital yuan since 2014, but in 2020 that rumor is becoming more of a reality. The last time news.Bitcoin.com reported on the subject, well known firms like McDonald’s, Starbucks, and Subway have been involved with testing the digital yuan. Additionally, those companies were joined by JD Supermarkets, Tencent, and Ant Financial. It was also rumored that Chinese government employees may soon be paid using the PBoC’s CBDC. Now the ride-hailing giant Didi Chuxing has joined the PBoC and Chinese government officials behind the CBDC taskforce in a “strategic partnership.” The PBoC’s think tank will reportedly call the CBDC “DC/EP” (digital currency/electronic payment) and PBoC representatives have said that the DCEP experiment did very well during testing in Suzhou and the country’s Xiong’An shopping districts. Didi Chuxing Technology Co is also at the forefront of the self-driving, ride-hailing car industry. Didi Chuxing Technology Co, formerly named Didi Dache, is based in Beijing. In the recent DCEP partnership announcement, Didi refers to itself as “the world’s largest one-stop on-demand transportation platform.” The company with its founder Cheng Wei and 11,407 employees will be working directly with the DCEP project hands-on. “Under PBOC’s overall DCEP strategy and operation timeline, Didi’s DCEP taskforce will design and implement pilot DCEP projects in accordance with rigorous safety, security, and governance standards,” Didi explained during the company’s latest announcement. Didi Chuxing is vastly known as the “Uber of China,” and the company also offers ride hailing services in Latin America and Australia as well. The firm is valued at $56 billion to-date, and the company has roughly 550 million ride-hailing users across the globe. The aim of Didi leveraging DCEP will help lay the foundations for the digital yuan. Despite recent testing with JD Supermarkets, Tencent, Ant Financial, Starbucks, Subway, and McDonald’s, the financial news outlet Bloomberg notes Didi Chuxing’s pilot “could be one of the first real-world applications of [DCEP].” A representative from the PBoC said last April that the central bank hopes after the public beta testing completes, the bank can officially launch the digital yuan prior to the Beijing Winter Olympics scheduled for 2022. So far only a few other countries are in the midst of creating CBDCs, and just recently the U.S. has been discussing the “digital dollar.” Sweden is currently working on an e-krona and Venezuela’s Socialist Party regime, run by Nicolas Maduro, minted the first nation-state issued CBDC called the “petro.” Despite the digital yuan being a rumor since 2014, it seems the Chinese central bank coin might just be the next nation-state cryptocurrency in line to launch. What do you think about China’s DCEP working with Didi Chuxing? Let us know in the comments below. The post China’s Giant Ride-Hailing Service Didi to Pilot the Central Bank’s Digital Yuan appeared first on Bitcoin News. View the full article
  3. The Texas State Securities Board (TSSB) issued a cease and desist order Wednesday against on Mirror Trading International (MTI), Forexandbitcoin.com and four individuals involved in a multi-level marketing scam. Out of the four individuals, Cornelius Johannes Steynberg is a resident of South Africa, while Micheal Aaron Cullison, Steve Herceg and Brian D Knott have US residential addresses. In its charge sheet, TSSB is alleging first that MTI is perpetrating a multi-level marketing company that promises lucrative commissions to its marketers. Registered in South Africa, MTI claims it has “recruited” 76,000 members from more than 170 countries. Only since March 1, 2020, MTI says it has recruited 22,500 members. However, TSSB says MTI’s marketers are “illegally soliciting Texans to purchase fraudulent investments in the cryptocurrency and forex trading pool.” The Texan regulator asserts that investments in the cryptocurrency and forex trading pool are “securities” as that term is defined in Section 4.A of the Securities Act. The cease and desist order says the four respondents are not registered with the Securities Commissioner as dealers and agents at the time when the securities where offered to Texans. Therefore, the respondents are engaged in fraud in connection with the sale of the securities. TSSB also states that Forexandbitcoin.com, Cullision, Herceg and Knott are acting as multi-level marketers for MTI. The four are accused of touting the profitability, of not only the investments, but the multi-level marketing program as well. Meanwhile, TSSB also singles out Herceg for targeting Texans impacted by changes to the economy in the wake of COVID-19. Herceg is encouraging Texans to “put their governmental assistance stimulus/COVID check to work” by purchasing the investments. In April, the FBI issued a global warning advising people to be on the lookout for cryptocurrency-related scams. Also, the TSSB is accusing Cullison, Herceg and Knott of failing to disclose to potential investors about their previous bankruptcy filings. Cullison has filed for bankruptcy four times between 1999 and 2015. Knott has filed twice and Herceg once. The order also flags MTI for issuing disclaimers that force investors to indemnify it as well as its associates. Respondents have 31 days to appeal the decision. If there are no representations, the four will face a fine of up to $10,000 or imprisonment if they continue operating. What do you think about MTI’s dealings? Let us know in the comments section below. The post South African Crypto Investment Company Issued Cease And Desist Order In Texas appeared first on Bitcoin News. View the full article
  4. Switzerland, July 9th 2020 – ModiHost, a hotel management system that uses artificial intelligence to deliver personalised experiences to hotel guests, is proud to announce that its token is live for trading on the HitBTC exchange starting from Thursday 9th. HitBTC was founded in the early stages of blockchain growth, making it one of the most deep-rooted and reliable exchanges in the industry. HitBTC exchange is the largest spot trading market in the industry with over 800 trading pairs and 500+ spot instruments supported, including Bitcoin, Ethereum, EOS, Litecoin, Tron and others. “HitBTC is an authority in the blockchain world and we are proud to become part of this trustworthy family. Today’s announcement will help to greatly increase the trading volume of ModiHost’s Token as we are partnering up with the leading European bitcoin exchange, HitBTC. Despite this year being particularly difficult for the tourism industry, ModiHost is continuing to expand and reach key milestones” says Stephan Radwitz, ModiHost CEO. Just two weeks ago, ModiHost announced the availability of its minimum viable product as it successfully onboarded more than 60 hotels across five countries: France, Italy, Spain, the UAE, and India. With ModiHost, instead of forcing hotels to purchase and hold tokens, hotels can instead borrow tokens from private lending pools to cover operating fees. Pool operators must set the fee they charge hotels low enough so that their tokens are lent frequently, but also high enough to ensure fees give the token holders a competitive reward, while also leaving enough profit for themselves. The innovative pool system may also work as an extra income source for these holders. The pool mechanism has several advantages: it incentivises token holders to become active participants in the ModiHost ecosystem, it allows token holders to benefit fully from the value of their tokens, and incentivises all parties involved to promote ModiHost, since participation further aligns the interests of holders with adoption of the platform. After going live on HitBTC, ModiHost expects to boost the attraction of the platform for those looking to trade tokens. This achievement will also allow ModiHost community members to regularly gather information regarding the crypto asset and its competitors from a separate, reliable source. About ModiHost ModiHost, a hotel management system, harnesses the power of AI to take the hospitality industry to the next stage in its evolution, using AI to run hotels more effectively than ever before. Thanks to AI technology, Modihost creates an ad-hoc customer profile, making guests feel special by predicting their needs and behaviour, and suggesting services automatically, therefore allowing hotels to increase their sales by up to 25% and improve customer experiences. Additionally, it eliminates outdated procedures, reduces repetitive workload and raises staff efficiency, resulting in lower costs. About HitBTC HitBTC is a crypto exchange with over 800 trading pairs. The platform was created in 2013 and provides exchange, custodial and other related services. HitBTC offers a range of APIs such as REST, WebSocket, FIX API. The exchange’s UI was developed to meet the needs of the most demanding and sophisticated traders. Users can take advantage of competitive trading fees via HitBTC’s Trading Fee Tier system. The exchange listing can be found at: https://hitbtc.com/AIM-to-BTC This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post ModiHost’s Token Is Live on HitBTC, the Leading European Bitcoin Exchange appeared first on Bitcoin News. View the full article
  5. Crisis laden Argentina saw bitcoin transactions worth $1.4 million (101 million pesos) being recorded in the past week, a new high for the country. According to a report by Vorem, this figure is nearly double the previous high of $0.96 million recorded in the last week of June. Citizens who have previously “watched their currency lose value are now turning to bitcoin” and those finding it difficult to “transfer fiat money to other countries” now make use of the cryptocurrency. The Argentine financial troubles, which started in 2018, worsened following the Covid-19 induced economy lockdown. The country’s peso currency is depreciating while the inflation rate is growing. According to a World Bank report, issued just as the country implemented lockdown measures, Argentina’s economic situation presents a precarious balance. The Argentine peso has lost 68% of its value since 2018. Annual inflation is over 50% and after a 2.5% fall in GDP in 2018, the economy contracted an additional 2.2% in 2019. Already government data for the first three months show the economy shrank 4.8%. Unemployment rose to over 10% in the same period. Meanwhile, Vorem quotes “analysts” predicting the economy to shrink by 10% by the end of 2020. Argentina, one of Latin America’s largest economies, has faced persistent economic troubles going back several decades. The crises are blamed on several factors including an insistence on using an overvalued currency, large scale borrowing as well as a lack of financial support by multilateral institutions. After the crisis between 2001 and 2002, the country dollarized as it tried to restore confidence. That policy was abandoned in favor of a returning peso. Again, prominent economists are calling for a return to dollarization but as the Vorem report suggests, citizens “might be seeking a safe haven in crypto assets” instead. What do you think about the recent demand for bitcoin in Argentina? Let us know what you think in the comments section below. The post Bitcoin Transactions: New High for Argentina as Confidence in the Peso Tanks appeared first on Bitcoin News. View the full article
  6. A Malaysian court has fined famous local actor Mas Khan $4,000, or 26 months in jail, for stealing around $50,000 worth of cryptocurrency belonging to his producer, local media reported. Khan appears to have gained access to his boss’ Datuk A.Aida private keys before plundering his wallet on two separate occasions, the same day. In the first case, Khan pillaged the equivalent of $14,000 in crypto from the film producer’s wallet, according to a report published in the Malay Mail on July 8. A second incident saw the 26-year old, who featured in a popular local movie called Abang Long Fadil 2, empty the wallet of nearly $36,000. It is not clear which digital asset(s) Khan stole. Both incidents took place on the morning of March 7, 2019, in the upmarket suburb of Taman Ukay Perdana near Kuala Lumpur. Khan, real name Mas Hidzhir Khan bin Mas Fadzillah Khan, pleaded guilty to the two charges after initial resistance. In sentencing, a local magistrate ordered Khan to pay a fine of $1,600 for the first charge or face one year in jail. The second charge attracted a fine of $2,300 or 14 months imprisonment. Khan was charged under a section of Malaysian law that provides for a maximum jail term of seven years or fine or both. He sought a minimum fine on the grounds that he was the sole family breadwinner and had cooperated with the authorities since the beginning of the investigation. What do you think about Mas Khan’s behavior? Let us know in the comments section below. The post Famous Malaysian Actor Fined for Stealing $50,000 Worth of Crypto From His Producer appeared first on Bitcoin News. View the full article
  7. Andreas Antonopoulos discussed how he desired to see Bitcoin have more “privacy features” in a recent live stream Q&A session published on Youtube on July 7. Antonopoulos discussed the privacy-centric coin monero and concepts like stealth addresses and ring signatures. Every once in a while, the well known cryptocurrency expert and evangelist, Andreas M. Antonopoulos, publishes a short clip of him answering a question from one of his live stream followers. On July 7, Antonopoulos discussed the Bitcoin (BTC) network and answered the question of whether or not “[BTC would] implement privacy features similar to monero?” Monero (XMR) is an open-source cryptocurrency created in April 2014 that uses a different proof-of-work (PoW) algorithm. XMR is based on the Cryptonight PoW hash algorithm that originally stemmed from the Cryptonote protocol established in bytecoin. Essentially the project was a forked codebase of bytecoin and originally called “bitmonero.” What makes monero transactions hard to trace is the obfuscated public ledger and ring signatures used. Monero also leverages bulletproofs, and stealth (one-time) addresses. After Antonopoulos read the question the entrepreneur said that of course he “wished” to see the BTC network add privacy features. Antonopoulos also named a number of concepts that could help bolster BTC’s privacy. “I think what we’re going to see soon is Schnorr, Taproot, and Tapscript, which open the door to a lot of privacy improvements,” Antonopoulos said. “But they still do not involve zero-knowledge proofs or the types of ring signatures and stealth addresses that are done in Monero. Bitcoin is not a privacy coin.” Bitcoin Core developers have yet to add any of the aforementioned privacy enhancing concepts to the main chain so far. Developers have, however, started laying the groundwork for concepts like Taproot and Schnorr Signatures. Interestingly, the team working on the Bitcoin Cash (BCH) protocol has already implemented the very basics of Schnorr in two upgrades. On Twitter, one individual responded to Antonopoulos’s Q&A video tweet and mentioned a coin called “particl.” “Particl is Bitcoin fork which has implemented Ring CT, which [also] got audited,” the person said to Antonopoulos. “If Bitcoin wants Ring CT it can implement it any day with the help of the Particl altcoin team,” he added. Antonopoulos responded to the individual on Twitter and tweeted: Do you really think that the reason Bitcoin hasn’t implemented these changes is a lack of technical knowledge and a need for assistance to the Bitcoin developers? It’s not. It’s about the politics and conservative management of the engine that runs a very large economy. At the time of publication, it is uncertain when BTC developers will implement things like Schnorr and Taproot. According to Andrew Poelstra, a Blockstream researcher has said that Taproot isn’t quite perfect, and “transaction amounts and the transaction graph are still exposed, which are much harder problems to address.” The tweet from Bitcoin Core developer Pieter Wuille, in regards to the new privacy features was published on January 23, but software developer Luke-jr added some commits two days ago, according to Github. What do you think about Andreas Antonopoulos’s opinion about BTC and XMR? Let us know what you think in the comments section below. The post ‘Bitcoin Is Not a Privacy Coin’ Says Crypto Evangelist Andreas Antonopoulos appeared first on Bitcoin News. View the full article
  8. Two-time U.S. presidential candidate John McAfee has launched a privacy-centric cell phone data service. McAfee said that his Ghost cell phone data service offers 4G data without using a physical SIM card, is compatible with most major phones, and works in more than 50 countries. Ghost Cell Phone Data by McAfee John McAfee announced Tuesday the launch of his new product called the “Ghost Cell Phone Data Service,” which he described as “the first 4G data service to make connections to the network untraceable.” Beta testing began on July 3 and the global launch of the service is planned for September. The Ghost by McAfee website explains that subscribers will be “invisible,” as “All traffic passes through multiple anonymized servers and cannot be traced back” to them. No SIM card is required as the service uses eSIM technology that allows data connections on a smartphone without a physical SIM card. The “app will offer base layer VPN protection for your phone, encrypting any data you send over our network.” The website currently lists 37 supported countries but McAfee tweeted an additional 16, making the total number of supported countries 53 at press time. Tuesday’s announcement details: The Ghost Cell Phone Data Service is one component of a larger ecosystem, which also includes the Ghost cryptocurrency for private transactions and the Ghostx Exchange for private cryptocurrency exchange. McAfee described: “the Ghost brand will encompass a range of practical, real world tools for people to protect our rights and take back our privacy. Privacy is a human right.” The Ghostx exchange went live on Jun 21, following the launch of McAfee’s Ghost cryptocurrency, a proof-of-stake privacy coin. The service is data-only but will support VOIP and other IP based communication platforms. It will be compatible with “most of the latest flagship phones,” the announcement adds. “Support for more phones will be added as eSIM technology gets added to mid-range and budget models.” Supported phones currently include a few models from Google, Samsung, and Apple’s iPhone. To use the data network, scan a QR code supplied after purchasing the service using a supported phone. The announcement adds: “No personal information is required for sign-up and all service is prepaid with no contract. The service includes a free app available for both Android and iOS that further enhances data protection and privacy.” What do you think about McAfee’s Ghost cryptocurrency and other services? Let us know in the comments section below. The post John McAfee Launches Ghost Phone Service to Supplement His Cryptocurrency appeared first on Bitcoin News. View the full article
  9. The cryptocurrency community has been discussing the infamous Ghislaine Maxwell, the associate of the financier and convicted sex offender Jeffrey Epstein. Maxwell was recently arrested and many speculators think she may see the same fate as Epstein before she talks. Moreover, it seems the last time Maxwell used Reddit, her last post was about someone mysteriously sending almost $1 billion in bitcoin on Wednesday, June 30, 2020. Ghislaine Maxwell was a well known associate of the now-deceased Jeffrey Epstein. The financier Epstein is a convicted sex offender who allegedly had a ring of sex slaves that were used to satisfy celebrities, politicians, and known British royalty figures. Maxwell is accused of being the main ringleader behind Epstein’s sex trafficking and blackmailing empire, and was recently taken into custody by the FBI. Interestingly, Maxwell is tied to well known people in both the Democrat and Republican parties including people like former U.S. President Bill Clinton, and the current incumbent Donald Trump. Both powerful American leaders can be seen in a variety of photos with Maxwell in the pictures. **At 4:58 pm ET, a Reddit communications representative reached out to news.Bitcoin.com. According to the Reddit representative, the account is a “speculated Ghislaine Maxwell Reddit account” and the firm “wanted to point out that this theory is based on a completely unfounded claim.” “This claim stems from a Twitter account not associated with any official Reddit accounts,” the Reddit representative wrote.** Now it seems that Maxwell was a Reddit connoisseur and used the platform quite a bit. Her alleged last post on June 30, was specifically about bitcoin, when her ostensible account posted a Vice article called “Someone Mysteriously Sent Almost $1 Billion in Bitcoin.” The Reddit post was Maxwell’s last post on the platform, but according to the Twitter user Joe Leonard, Maxwell was an avid Reddit user. “Ghislaine Maxwell was the first person on Reddit to hit 1 million karma LMAO,” Leonard tweeted. “She’s the #8 karma to this day. Her posts to /r/worldnews constituted roughly 30% of the posts there. This connection was made after she was arrested and that account stopped posting there after 14 years.” Leonard gives a comprehensive overview of Maxwell’s Reddit habits and notes: [Ghislaine Maxwell] hasn’t posted since June 30th. She was arrested on July 2nd. Jeffrey Epstein’s confidant Maxwell was recently transferred to NY-based prison after her arrest. It is well known that the former Bear Stearns partner Jeffrey Epstein liked bitcoin (BTC) and spoke about the subject often before his death. “When we talk about gold as a store of value that just means a lot of people agree to pay the same price for one ounce of gold,” Epstein once said. “In 2017, enough people agree on the value of bitcoin that it can serve the same purpose. There will only ever be 21 million bitcoins, but this limit comes from computer code, not by how many bitcoins are left to remove from the earth. If we learn tomorrow that half of Montana contained a secret cache of gold, the value of gold would decrease instantly. Bitcoin doesn’t have this problem.” It is uncertain how much Maxwell liked bitcoin, but her recent Reddit post suggests she followed the subject intently. As for the crypto community knowing that Epstein enjoyed the cryptocurrency, a number of people have suggested that “Jeffrey Epstein’s bitcoin intrigue deserves scrutiny at MIT” This was after it was found that the former director of MIT’s Media Lab, Joichi Ito, allegedly attempted to “conceal financial contributions from pedophile Jeffrey Epstein.” U.S. federal prosecutors allege that Maxwell, between 1994-1997, “assisted, facilitated and contributed to Jeffrey Epstein’s abuse of minor girls by, among other things, helping Epstein to recruit, groom and ultimately abuse victims known to Maxwell and Epstein to be under the age of 18.” Maxwell faces a myriad of sex trafficking charges and she “poses an extreme risk of flight” according to prosecutors. “[Ghislaine Maxwell] absolutely no reason to stay in the United States and face the possibility of a lengthy prison sentence,” the prosecutor’s memo stressed. **This article was updated at 5:30 pm ET to reflect the commentary from Reddit’s communications team.** What do you think about Ghislaine Maxwell’s last post on Reddit about Bitcoin? Let us know what you think about this subject in the comments section below. The post Jeffrey Epstein Confidant Ghislaine Maxwell’s Last Reddit Post Was About Bitcoin appeared first on Bitcoin News. View the full article
  10. Just recently, Bitcoin Cash proponents were introduced to a new foundation called the “Permissionless Software Foundation” aimed at spreading Bitcoin Cash and SLP token technology. This week an organization called the “Permissionless Software Foundation” (PSF) revealed an announcement to the BCH community. The group’s mission aims to “foster the growth of open-source software and growing adoption of Bitcoin Cash across the globe.” “The mission of the Permissionless Software Foundation is to foster the growth of open-source software and the adoption of Bitcoin Cash across the globe. The Foundation will focus on the development and promotion of software that makes it easy for individuals to protect their privacy, circumvent censorship, and engage in Agorism,” explains the PSF website. Moreover, the PSF plans to bolster Simple Ledger Protocol innovation. Crypto fans can read about the PSF on the organization’s new web portal called psfoundation.cash. The organization’s business model states: The Foundation is a community-oriented, highly automated, and legally-nonexistent decentralized autonomous organization whose purpose is to foster the growth of open-source software and the adoption of Bitcoin Cash across the globe. The PSF will offer a Simple Ledger Protocol (SLP) token on the Bitcoin Cash (BCH) network to self-fund the development of open-source software, and reward contributors that help the organization grow. According to the press release, PSF and the web portal fullstack.cash will offer consulting services going forward. “More and more businesses are looking into the great opportunities of integrating Bitcoin Cash and SLP tokens into their operations,” explains the announcement. “Finding the right information and the best people can be a daunting task but this service is already proving helpful for those businesses wanting to step into the world of Bitcoin Cash.” The Bitcoin Cash (BCH) proponent and host of the developer’s monthly video series, David R. Allen, joined the PSF as the Business Development Manager. “[Allen] has agreed to assist and support the Permissionless Software Foundation and to be a primary contact for businesses as the community grows out of its infancy. His experience and contributions are a welcome addition to the foundation,” the PSF announcement details. PSF also aims to offer “white-label BCH and SLP wallets” as well, according to the press release details. At the time of publication, the work is being executed in order to provide the community with a “fully functional white-label web wallet.” “With this wallet, businesses will be able to release reliable web wallets with organisation-specific branding,” the announcement notes. “This will lower the barrier to entry for businesses even further. An early prototype of the wallet can be seen at ​wallet.fullstack.cash.” The software developer Chris Troutner is also involved with the PSF, and nine days ago he created a post about the subject on the Reddit forum r/btc. Troutner and the PSF have also released an introductory video which can be viewed on Youtube. BCH supporters seemed to like the project, according to a number of comments within the Reddit post. “Super interesting [and] very exciting,” one person wrote. What do you think about the Permissionless Software Foundation (PSF) for Bitcoin Cash? Let us know what you think about this subject in the comments section below. The post Permissionless Software Foundation Aims to Foster Open-Source Software With Bitcoin Cash appeared first on Bitcoin News. View the full article
  11. The price of bitcoin could see an ‘imminent’ breakout, according to the latest Glassnode data. The data firm says bitcoin (BTC) has been flashing bullish for the past six weeks amid positive onchain activity. Meanwhile, the BTC network hashrate has continued to grow, with the seven-day average reaching 123.4 exahash per second (EH/s) on Monday. In a report published July 6, the Glassnode Network Index (GNI), which measures the overall state of the Bitcoin network, rose by one point week-on-week, to a value of 56 points. At the same time, the BTC price slid from $9,125 to $9,070, a stability largely unexpected. The index measures metrics such as network health, sentiment, and liquidity to determine the strength of bitcoin’s fundamentals. According to the report, network health and sentiment rose by 3 points and 6 points, respectively. Liquidity fell by 6 points. “While BTC has remained surprisingly stable over the past couple of months, indicators are pointing to an imminent breakout, with fundamentals remaining consistently strong,” said Glassnode. “However, external factors such as bitcoin’s as yet unconfirmed correlation with traditional financial markets mean that uncertainty remains in spite of positive signals within the market,” it added. The news comes as the Bitcoin network hashrate reached new highs this week. According to data from Blockchain, BTC hashrate or total computing power touched a seven-day average of 123.4 EH/s on July 6, an all-time-high. A week earlier, the figure averaged 115.3 EH/s. A rising hashrate tends to indicate faith in the network by bitcoin miners. Often, this leads to an increase in the price of BTC. Over the last couple of days, bitcoin has clawed up from around $9,070 to $9,316 at the time of writing, data from markets.Bitcoin.com shows. The immediate target is to break above $10,000 and stay there. Analysts consider this level as important for sparking BTC’s long-awaited price rally. What do you think about bitcoin’s price outlook? Let us know in the comments section below. The post Bitcoin Price Poised for ‘Imminent’ Breakout As Network Hashrate Hits Record Highs appeared first on Bitcoin News. View the full article
  12. The most popular stablecoin tether (USDT) has officially been minted on the Bitcoin Cash blockchain via the Simple Ledger Protocol (SLP). At press time there’s only 1,010 SLP-based USDT in circulation, as the firm Tether Limited seems to be issuing small amounts and testing the SLP framework. Tether (USDT) is the king of stablecoins in the crypto economy and according to the company’s transparency page, there are more than $9.8 billion tethers in existence. The stablecoin is a token that is also hosted on a number of blockchains including the Ethereum network, Omni Layer, Algorand, Tron, Liquid, and the EOS chain. Not too long ago, news.Bitcoin.com revealed that tether (USDT) was migrating some coins over to the Bitcoin Cash (BCH) blockchain via the Simple Ledger Protocol. Tether Limited’s transparency page now shows that the company has been minting and testing the SLP framework. The data website simpleledger.info shows that the Tether team has officially minted 3,027 USDTs so far on the BCH chain. However, 2,017 SLP-based USDT tokens have been burned, which only leaves 1,010 SLP-based USDT in circulation at the time of publication. A thousand dollars worth of stablecoins is not much, but Bitcoin Cash proponents believe that the company is simply trialing the SLP infrastructure. Simpleledger.info also shows that the baton is “alive,” which means USDTs can be minted at any time. The genesis of the SLP-based USDT shows that the tokens were born on May 25, 2020. Searching the term “tether” in the simpleledger.info database also shows there is a number of phony ‘tethers’ people have created since the SLP network came out. The official USDT token ID is shown at Tether Limited’s official website, alongside the balances of tether on other blockchains. There’s been a total of 50 SLP-based USDT transactions so far on the Bitcoin Cash blockchain. The SLP-based USDT rich list shows that this address has the most stablecoins with a balance of 874.14 USDT at the time of publication. The rest of the coins in circulation are spread out through a number of different addresses. The largest amount of USDTs on any blockchain is held on ETH with $6 billion in ERC20-based tethers to-date. Of course, Bitcoin Cash fans were both pleased and skeptical about the appearance of USDTs on BCH. On the subreddit r/btc, BCH fans discussed the recently issued SLP-based USDT on the forum. On July 7, Sideshift.ai announced that the Bitcoin Cash version of USDT is now live on the swapping platform. BCH proponents also discussed holding USDTs on the Bitcoin.com Wallet thanks to the recently added asset breakdown and stablecoin features. On Twitter, the Sideshift team wrote: “Be one of the first humans to shift USDT on SLP.” What do you think about tether (USDT) being minted on the Bitcoin Cash chain? Let us know what you think in the comments section below. The post The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network appeared first on Bitcoin News. View the full article
  13. A series of bank runs has prompted the Chinese government to begin requiring approval for large cash deposits and withdrawals at commercial banks, starting with banks in a northern province. Recently, two bank runs happened within a week as people lost faith in financial institutions amid unprecedented economic contraction. China’s Efforts to Prevent Bank Runs China has launched a measure aimed at curbing bank runs. Starting July 1, residents of the northern province of Hebei are required to “apply for approval if they plan to make large cash deposits or withdrawals at commercial banks,” the South China Morning Post reported Sunday. The publication detailed: The regulation comes after a series of bank runs in the past year at debt-laden small lenders and as an unprecedented pandemic-related economic contraction starts to take a toll. Residents “will need to provide information about the source of deposits or the purpose of withdrawals for transactions over 100,000 yuan (US$14,162) for individuals, and 500,000 yuan for corporations,” the state-backed China Securities Journal described. “Applicants will have to give one day’s notice to the bank to make a withdrawal of this size or larger, and gain the branch’s approval of the registration information.” This requirement will be expanded to banks in Zhejiang province and the city of Shenzhen in Guangdong province from October 1 for individual account transactions of more than 300,000 yuan and 200,000 yuan, respectively. The regulation requires “every commercial bank to integrate their information systems to minimise the amount of reporting required by individual customers,” the Journal noted, claiming that this regulation primarily targets “transactions conducted with physical cash through quick, self-service deposit and withdrawal equipment that avoided monitoring.” Many small lenders in China are facing problems such as rising number of non-performing loans, insufficient capital, and poor governance. Last month, runs on two small lenders happened within a week. The news outlet reported that customers mass-withdrew their money from Baoding in Hebei province and Yangquan in Shanxi province over concerns about the health of the banks. While China guarantees deposits of up to 500,000 yuan per bank, the publication conveyed that investments in wealth management products are not protected. What do you think about China’s cash transaction measure to curb bank runs? Let us know in the comments section below. The post Escalating Bank Runs Spur Chinese Government to Require Approval for Large Cash Transactions appeared first on Bitcoin News. View the full article
  14. The Trump administration is looking at banning Tiktok and other Chinese social media apps, according to Secretary of State Mike Pompeo. The US has been concerned about Tiktok being used by the Chinese government to mine American users’ data. India has already banned Tiktok in its country, along with 58 other mobile apps. US Considers a Ban on Tiktok U.S. Secretary of State Mike Pompeo said on Monday in an interview with Fox News’ Laura Ingraham that the Trump administration is “looking at” a ban on Tiktok and other Chinese social media apps. Lawmakers have long expressed concerns that the popular video-sharing social networking service could be used by the Chinese government to harvest data from American users. Responding to a question about whether the United States should look at banning Tiktok and other Chinese social media apps, Pompeo told Ingraham: We’re taking this very seriously. We’re certainly looking at it. We’ve worked on this very issue for a long time. The secretary of state elaborated: “Whether it was the problems of having Huawei technology in your infrastructure, we’ve gone all over the world and we’re making real progress getting that out. We’ve declared ZTE a danger to American national security. We’ve done all of these things. With respect to Chinese apps on people’s cell phones, I can assure you the United States will get this one right too, Laura. I don’t want to get out in front of the president but it’s something we’re looking at.” Ingraham further questioned Pompeo about whether he would currently “recommend that people download that app [Tiktok] on their phones.” The secretary of state replied: Only if you want your private information in the hands of the Chinese Communist Party. Tiktok is owned by Beijing-based Bytedance but it is not available in China. The company has recently been trying to distance itself from its Chinese parent company, such as by hiring former Disney executive Kevin Mayer to be its CEO. Tiktok has also said that it will pull out of Hong Kong following last week’s enactment of the new national security law as military tensions between the United States and China escalate. The company has insisted that its data centers, including U.S. user data, are located outside of China and its data is not subject to Chinese law. Responding to Pompeo’s comments, a Tiktok spokesperson told CNBC in a statement: “Tiktok is led by an American CEO, with hundreds of employees and key leaders across safety, security, product, and public policy here in the U.S. … We have never provided user data to the Chinese government, nor would we do so if asked.” According to an industry estimate, Tiktok has about 800 million monthly active users and the app has been downloaded over 2 billion times worldwide. Last week, India banned 59 mobile apps, including Tiktok, Tencent’s Wechat, Baidu maps, and Weibo. What do you think about the U.S. banning Tiktok? Let us know in the comments section below. The post Tiktok Ban: US May Join India in Banning Chinese Social Media Apps appeared first on Bitcoin News. View the full article
  15. With over 11 Million Bitcoin.com Wallets created, we’re building new features our users need most in order to enjoy the best possible cryptocurrency experience. Our wallet’s latest features now provide seamless swaps between bitcoin (BTC), bitcoin cash (BCH), and the stablecoin honestcoin (USDH). Moreover, Bitcoin.com’s new portfolio breakdown allows users to manage their assets with ease. Bitcoin.com is the premier destination for all your bitcoin needs with crypto-infused tools, the hottest digital currency news, a gaming platform, educational resources, and a powerful noncustodial wallet. This week Bitcoin.com is pleased to reveal two new features that have been added to the noncustodial bitcoin (BTC), bitcoin cash (BCH) wallet, alongside Simple Ledger Protocol (SLP) token support. The new portfolio breakdown provides Bitcoin.com Wallet users with asset distribution and SLP pricing according to the July 3, 2020 release notes. Additionally, “improved swap support” has been added to the upgraded version. The portfolio asset breakdown via the Bitcoin.com Wallet. Cryptocurrency markets can be volatile and our new portfolio section with stablecoin support helps individuals manage crypto-asset risks better. After upgrading to the latest version of the Bitcoin.com Wallet, in the home section, the user simply needs to scroll down to the bottom of the wallet screen. There the individual will see the asset breakdown between bitcoin cash (BCH), bitcoin (BTC), honestcoin (USDH), and the value of any other types of SLP tokens. The asset breakdown gives the user a percentage rate, and on the right side of the tab it says “swap.” When an individual simply presses the “swap” button, it leads to a section where they can trade BCH, BTC, and USDH in a seamless fashion. The trades are powered by Sideshift.ai and if the person is trading for USDH, they need to enter their SLP address. Our wallet’s latest features now provide seamless swaps between bitcoin (BTC), bitcoin cash (BCH), and the stablecoin honestcoin (USDH). The swap section allows the user to configure how much they want to swap and it offers a live exchange rate as well for price referencing. Honestcoin (USDH) is a fully regulated, 1:1 U.S. Dollar-backed stablecoin that can be bought, sold, invested in, and spent as freely. When swapping for USDH, the Bitcoin.com Wallet allows instant settlement without confirmations, so balances of USDH will show up immediately. People who haven’t tried the lightning-fast, noncustodial Bitcoin.com Wallet can download the platform for Android or iOS devices. In order to leverage the two new asset breakdown and swap features, existing users simply need to upgrade their applications. At Bitcoin.com we understand that volatility isn’t for everyone. That’s why the latest Bitcoin.com Wallet gives any individual, from anywhere around the world, full control over their digital assets. What do you think about the latest Bitcoin.com Wallet features? Let us know in the comments section below. The post Bitcoin.com Wallet Launches New Portfolio Breakdown and Stablecoin Swap Features appeared first on Bitcoin News. View the full article
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