roadrunner

When you hear about gambling, you’ll remember some fancy Casino resorts in Las Vegas and Macau or some local brokers in your street. The gambling system has evolved beyond the traditional houses to online gambling. Online gambling is valued at US$ 46 billion, and it is projected to around US$ 96 billion in 2024. Lotteries are one of the most popular online games today. Many companies are offering different types of online lottery systems, but Multilotto is a company that is changing the way you play lottery online. Multilotto lotteries provide a powerful user experience; many lottery systems provide beautiful websites without providing their users to navigate the website easily; it is difficult for users to play games or make payments. Multilotto offers tutorials that help the users to understand the website. The team works every day to provide new updates on the website without hampering the games. Multilotto servers are powerful enough that users don’t undergo downtime like other websites available today. They ensure that servers are always online because Multilotto can’t afford to disappoint its users. It is no secret Bitcoin is the next big thing for online gambling; that’s why Multilotto has created and implemented a fair Bitcoin Jackpot. Many gamers still visit lottery stores rather than playing online; the question is why would they do that when they can enjoy those games from their homes? The problem with many online gambling systems is the lack of transparency. A lot of online games are designed to cheat users and make more money for the system. Multilotto is more interested in providing a fair game for users than making money for the system. Multilotto understands that users are the most important for the system; they are an array of fair lotteries. The names of the winners of the games are published on their website, and Multilotto ensures that other users can verify that it’s a real person, not an anonymous bot that is always designed to win. In online lotteries, keeping track of expenses is the key. Multilotto understands that even the top gamers have to keep track of their spending on various games from the array of games provided by Multilotto. Their powerful spending tracking system provides a dashboard for every user to track their expenses and check their purchase on lottery platforms. The games provided by Multilotto includes Euromillion and Euro jackpot lotteries. Multilotto provides guides that will help users understand how to join those lotteries and show them some likely outcomes in the games. It’s unlikely that you’ll find another online platform that will offer gambling tips to users. Multilotto also has robust support in which a user can contact if they encounter any system problems. One of the primary reasons why some players avoid online games is security; some users might be afraid of some people stealing their credit card details from the website. Multilotto ensures that the user’s details are safe on the platform. Multilotto servers are secured from hackers because they employ the best security experts. Their payment partners are reputable companies, the users’ funds are secured with them, and users can be sure that they’ll never run into security problems or data breach on their website. What about user winnings? Multilotto ensures that the winnings of users are paid promptly after the government tax has been paid. Many users choose Multilotto because they know that unlike many online lottery platforms that delay the payment of their winnings without any reason, they know that Multilotto pays their money promptly. How to play Multilotto lotteries Register on the Multilotto website, check their lottery page to see the multiple games, including Euro Jackpot, Euromillion, Powerball, and MegaMillions. Make a payment from the comfort of your device with more than ten payment gateways available on their website, which includes Wirecard, Neteller, Skrill, Mastercard, and Visa. Enter the game of your choice. That is what Multilotto represents; anyone who is above 18 can enjoy fair lotteries from the comfort of their devices. 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 Multilotto: Play Transparent Online Lotteries With Equal Opportunities for Every Player appeared first on Bitcoin News. View the full article

Paypal launching cryptocurrency services has given crypto investors much to think about. While many crypto users view the news as extremely bullish, some point out several areas of concern bitcoin investors should be aware of. ‘Every Major Bank Is Having a Meeting About How To Support Bitcoin’ The news of Paypal launching a service that will enable customers to buy, hold, and sell cryptocurrencies directly from their Paypal accounts has triggered much discussion within the crypto industry. Users will also be able to pay for goods and services at 26 million stores that accept Paypal as a form of payment with the cryptocurrencies in their Paypal accounts. The crypto industry has largely viewed the news as extremely bullish, sending the price of bitcoin above $13,000. Virgin Galactic chairman Chamath Palihapitiya tweeted in response to the Paypal news Wednesday: After Paypal’s news, every major bank is having a meeting about how to support bitcoin. It’s no longer optional. Regulations in the U.S. permit banks to provide cryptocurrency services. The U.S. Office of the Comptroller of the Currency (OCC) has already confirmed that federal banks are allowed to provide cryptocurrency custody services. Messari founder Ryan Selkis tweeted: “Finally. Paypal joins the bitcoin space race … 346 million users … 26 million merchants … 20th largest ‘bank’ by deposits. Between them, Square, and Grayscale, it’s safe to assume that all remaining BTC will be hoovered up by public companies.” Recently, Square Inc. announced that it had put 1% of the company’s total asset into bitcoin, worth about $50 million. Grayscale Investments has been scooping up bitcoin, adding $1 billion to its crypto products in Q3. Twitter user Vijay Boyapati opined: “It did not escape Paypal’s notice that Square was making a very large fraction of its profit allowing users to trade bitcoin. More and more financial institutions and payment processors will figure this out soon. The fiat on-ramps are getting bigger quickly.” Users Cannot Transfer Crypto Out of Paypal Some people are concerned about Paypal’s policy to disallow users from transferring cryptocurrencies in or out of its platform. The company detailed: Currently, you can only hold the cryptocurrencies that you buy on Paypal in your account. Additionally, the crypto in your account cannot be transferred to other accounts on or off Paypal … You own the crypto you buy on Paypal but will not be provided with a private key. Twitter handle “Plan B,” known for his stock-to-flow bitcoin price prediction model, wrote: “Crypto in (the Paypal) account cannot be transferred to other accounts on or off Paypal. So, this is all a big Paypal nothing burger, just entries in a central Paypal database, nothing to do with bitcoin.” Lawyer Jake Chervinsky similarly cautioned: “Look, I understand the temptation to just be excited about Paypal & ignore the fact that they prohibit transfers to other accounts & withdrawals to self-custody. But if you can’t hold your own keys, is it even bitcoin? How much will we sacrifice in the name of ‘number go up?'” Twitter user Hope Freiheit was not impressed by Paypal’s announcement, stating: “They won’t even allow users to withdraw the bitcoin they buy – it’s just a closed platform for speculation, likely with the users getting charged an arm and leg with fees. Bitcoin doesn’t need Paypal.” Spending Crypto Is a Taxable Event Some people questioned the tax implications of spending cryptocurrencies from their Paypal accounts. “Cryptocurrencies like bitcoin are treated as property per IRS rules. This means every time you sell, exchange, or dispose of cryptocurrency to buy something, there’s a taxable event,” Shehan Chandrasekera of Cointracker wrote. Citing that Paypal stated that users “will be able to instantly convert their selected cryptocurrency balance to fiat currency, with certainty of value and no incremental fees,” he explained: This means every time users buy a good or service from a merchant, Paypal will automatically convert the cryptocurrency to fiat, thereby triggering a taxable obligation for the consumer. What do you think about Paypal launching crypto services? Let us know in the comments section below. The post ‘Bitcoin’s No Longer Optional’ — What Investors Say About Paypal Launching Crypto Services appeared first on Bitcoin News. View the full article

Goldman Sachs has reportedly agreed to settle with the U.S. government over its role in a corrupt Malaysian government investment fund, which is one of the firm’s worst scandals since the financial crisis. In addition, Goldman Sachs previously agreed to pay the Malaysian government billions of dollars to end a criminal probe. Goldman Sachs’ Billions of Dollars in Settlement Goldman Sachs Group Inc. has agreed to pay about $2.8 billion to the U.S. Department of Justice (DOJ) to settle a case involving a corrupt Malaysian government investment fund, the Wall Street Journal reported Tuesday. This is in addition to the $3.9 billion settlement the firm agreed to pay the Malaysian government over the same case. Under the agreement with the DOJ, Goldman Sachs will admit fault but will not face prosecution, the publication noted, citing people familiar with the matter. The firm’s Asian subsidiary tied to the misconduct is expected to plead guilty this week. The deal will allow Goldman Sachs to avoid a guilty plea that could cripple its ability to do business. The case involves 1Malaysia Development Berhad (also known as 1MDB) which was set up in 2009 by former Malaysian Prime Minister Najib Razak to promote the country’s economic development. The state-owned fund has been under heavy scrutiny for its suspicious financial transactions, money laundering, fraud, and theft. Razak was found guilty of the scandal in July and sentenced to 12 years in prison and fined $49 million. He additionally received 10 years of jail on six charges, including money laundering. Goldman Sachs helped sell $6.5 billion in bonds for the fund in 2012 and 2013, earning higher fees than is typical for this kind of work, the publication detailed. The media calls the scheme one of Goldman Sachs’ worst scandals since the financial crisis. The U.S. Department of Justice alleges that $4.5 billion was misappropriated from the fund. The Malaysian government dropped criminal charges against three Goldman Sachs units after the bank agreed to pay $3.9 billion to settle the probe. The prosecutors say that most of the money that went missing was allegedly stolen by Jho Low, the fund’s adviser, and his associates. For years, Goldman Sachs blamed rogue employees, two senior bankers who were criminally charged in the matter. The firm’s top banker on the deal, Timothy Leissner, admitted in 2018 to violating money-laundering and bribery laws while working closely with Low to engineer the theft. According to Reuters, Goldman Sachs has been investigated by regulators in at least 14 countries, including the U.S., Malaysia, and Singapore over its involvement in the case. Goldman Sachs will pay the U.S. Department of Justice about $2.2 billion in penalties and return $600 million it earned in fees from working with 1MDB. However, the firm could offset some of that amount with fines paid to other authorities and agencies. What do you think about Goldman Sachs’ corruption scandal? Let us know in the comments section below. The post Goldman Sachs to Settle Massive Corruption Case for $2.8 Billion With US Government appeared first on Bitcoin News. View the full article

HEX.COM – The First High Interest Blockchain Certificate of Deposit – has outperformed every asset in 2020. Ranked Top 20 by Nomics (BTI verified #1 in Market Data Integrity), over $240 Million HEX are in active stakes paying a variable 28% APY. The average stake length is 5 years; the longest stakes are 15 years. This kind of verifiable onchain commitment seen in HEX is unprecedented in cryptocurrency. HEX is Designed to Outperform And It’s Working On November 19th HEX’s Big Pay Day highlights the strong finish to an exciting yearlong launch phase, crediting active stakes with 183 Billion HEX worth over $750 Million dollars. Read more about this windfall event below. All figures herein cited at the time of writing. Design intention is never a promise, but seeing HEX perform as designed appears indeed very promising: HEX’s price has gone up 92x vs Bitcoin, 79x vs Ethereum, and 115x vs USD. It did all of this in just 129 days. By design, HEX enriches The Staker Class with a highly attractive APY plus additional rewards. The First Onchain Truth Engine: Penalties traditional banks would keep for not honoring the terms of the time deposit – HEX pays directly to The Staker Class. Cryptocurrencies Are The Highest Appreciating Asset Class in the History of Mankind Bitcoin’s (BTC) price did 2,000,000x from $0.01 to $20,000 in 7 years. Ethereum (ETH) did over 10,000x from $0.15 to $1,595 in 2.5 years. Had you put in $1, you could have made millions, many did. HEX is a complete and finished product designed to deliver even more. HEX addresses a larger market than Bitcoin with superior product fit. The United States and China have over $7.2 Trillion in time deposits. This is a 50% larger market than the peer-to-peer currency market Bitcoin was designed to address where printed cash totals about $5 Trillion. Taking Security Seriously HEX is a Fully Audited, Complete Product Setting a new standard, HEX distinguished itself from the DeFi pack by having the advantage of being a completed product – not project – before going live. This uniquely qualifies HEX with the property of having zero expectations of profit from the future work of others: HEX is a complete product and performs as designed. Creating a robust economic moat, HEX’s contract code is all rights reserved with 3 separate audits by 2 of the top contract auditors in the world. Taking such care in attention to detail has resulted in HEX performing precisely as designed with 100% uptime. “HEX was delayed almost a year to get security right, which is why it has 3 audits; 2 security audits, 1 economics audit. HEX has no admin keys. No off switch. No pause switch. It’s fully autonomous. If HEX.COM goes offline, I die, the system continues to work fine. It is unstoppable: the code is on the blockchain. You run it. You mint your own rewards. That’s it.” –Richard Heart, HEX Inventor 10/15/2020 Interview, @Hardforking Buying and Staking HEX is Easy The Big Pay Day Last Chance to Get Staked Early adopters of HEX will celebrate a windfall inflation distribution of approximately 183 Billion HEX, worth more than $750 Million, credited to active stakes on November 19th, 2020. This one-time event is called The Big Pay Day (BPD), and the only eligibility requirement is a stake be active before BPD and end after it. To The Staker Class this HEX will appear like any other daily interest credited to your stakes, but substantially larger. 10 Years for Bitcoin to Do it HEX Does it November 19th Bitcoin’s inflation model for coin distribution went from 0 coins to 18 million across 10 years; HEX efficiently expedites this, completing its entire high inflation distribution on November 19th. Immediately following this, HEX goes right into its low inflation phase with a maximum of 3.69%. Bitcoin took 10 years across multiple halvenings to accomplish the same. (The Greatest Reward Many Will Overlook) 2-Minutes of Rare Insight into BPD from Richard Heart The visionary product design of HEX utilizes shares with real — quantifiable and fully audited — Earnings Per Share (EPS) to deliver a true Legacy Finance finished product. Having more shares in HEX is a lot like stacking up more Bitcoin miners for more hashrate without having to own the miners or pay the electricity bill. The more shares you have, the more HEX minting power you have. The similarities are remarkable: read this full thread on HEX by Richard Heart to learn more. User Experience: What Others Are Saying With growth and performance attracting more and more investors to HEX, there’s been no shortage of individuals describing their experiences on Cryptocanary — kind of like a Yelp for crypto. Pictured above is a small sampling. Each review is unique and gives a real flavor for each individual’s experience using HEX. Not every review is 5-stars, but readers will find a large majority are. This article encourages its readers to have some fun exploring things. Reading these reviews — many describing personal experiences investing and trading over the years — is a reminder that while one cannot go back and change the beginning, many realize they can start where they are and change the ending. This applies to many areas; in cryptocurrency many have looked to HEX, and with continued performance many more will. Why HEX Might Continue Outperforming Long After The Big Pay Day Imagine if Bitcoin paid its holders with more Bitcoin for committing to not sell for time periods of their choosing: a time deposit. Now imagine if committing to longer time periods paid even better, and when others break their commitments those who keep theirs receive even more Bitcoin. What would overall net buying and selling activity look like? HEX does all of this, plus a bit more. HEX is a finished product designed to richly reward stakers in ways no cryptocurrency ever has. The returns enjoyed by The Staker Class incentivize net positive buying and staking activity versus selling. Additionally, when HEX is staked those coins are thus removed from the circulating supply – another key design feature to positively influence demand pressures on supply. Market Leaders Share a Similar Path The Top 2 cryptocurrencies experienced the worst verbal abuse in their early days. It was common to see Bitcoin Scam or Ethereum Scam voiced ignorantly and unintelligently. History often rhymes, and one cannot help but note HEX Scam being voiced by many large influencers who have never researched it. Ironically, much the same as Bitcoin and Ethereum’s early days, the only scam appears to be the false labels precluding many from investing in a bona fide product at opportune times. When there’s an elephant in the room, introduce them. -Randy Pausch, Last Lecture CoinMarketCap. While HEX might be the first coin to ever have two independent security audits, due to apparent gatekeeping practices by the ever-popular CoinMarketCap HEX has yet to be ranked correctly there. In fact, CoinMarketCap has suspiciously pegged HEX at Rank 201 – appearing buried on page 3. This not only makes it extremely difficult for new investors to discover HEX, but also calls data reporting practices into question. The top blockchain data surveillance firm in the world, Blockchain Transparency Institute, grades CoinMarketCap with C’s across the board; sites like Nomics, where HEX is ranked correctly, receive BTI Verified grades of all A’s. Also of note, it is curious many (most) of the largest personalities and social influencers in cryptocurrency have so far been reluctant to openly discuss HEX despite its design’s strong emphasis on security and verifiable onchain transparency. As a result, for those investors who do discover HEX at this time, it may mean the difference between participating in the early adopter stage versus the late majority. Inception HEX was invented by serial entrepreneur and early Bitcoin adopter, Mr. Richard Heart. Today Mr. Heart is a well-versed proponent of Ethereum and stimulating thought leader champion across a panoply of subject matter. With his inspiring stage presence and candidly streamed interviews, Mr. Heart’s audiences always pack a very full house. For More Information Visit: HEX.COM News and Updates, Follow on Twitter: @HEXcrypo This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. The post Last Chance to Get Staked $750+ Million HEX Payout November 19th, 2020 appeared first on Bitcoin News. View the full article

Bitmex said Wednesday that it is fast-tracking its user verification program in order to comply with regulatory requirements. Users must now be fully verified by Nov. 5, 2020 “to continue trading on the platform,” it said. In a statement, the crypto derivatives exchange stated that “unverified users will not be able to open new positions” after this date. They will also “not be able to withdraw funds from their Bitmex account without completing verification” beginning Dec. 4. The accelerated verification means Bitmex’s mandatory know-your-customer (KYC) process – first announced Aug. 28, 2020 – will now close three months earlier than originally scheduled. Initially, it was slated to end February 2021. Bitmex may have been pressured into action by the charges it faces in the U.S. The exchange was recently charged by the U.S. Commodity Futures Trading Commission (CFTC) for operating illegally and for “failing to implement required anti-money laundering procedures.” At the same time, the Department of Justice (DoJ) indicted former chief executive officer Arthur Hayes and his leadership team for “violating the Bank Secrecy Act and conspiring to violate the Bank Secrecy Act.” “Recent events have underscored the requirement for market operators to implement robust and compliant KYC programme,” Bitmex said. As part of the exchange’s KYC procedures, individual users are prompted to upload a photo ID and proof of address, take a selfie, and answer several questions that relate to the source of their funds and their trading experience. Bitmex says this takes approximately five minutes to complete, and more than 50% of its users have since completed the process. By Nov. 5, Bitmex customers will need to have completed verification in order to open a new position or to increase an existing position. Existing open positions can be maintained or reduced by unverified users, although pending orders that would increase a position will be cancelled, it said. After Dec. 4, “if there are remaining open positions on unverified accounts, we will review these…and communicate directly to users holding these to facilitate an orderly closing of these positions.” Crypto exchanges are under pressure to implement stringent KYC procedures, as regulators around the world seek to align with anti-money laundering recommendations from the Financial Action Task Force (FATF). What do you think about Bitmex’s accelerated KYC processes? Let us know in the comments section below. The post Bitmex Fast-Tracks KYC Program as Regulators Tighten Screws on Anti-Money Laundering Rules appeared first on Bitcoin News. View the full article

According to a recent research survey, cryptocurrency investment is a touch more popular than gold in Russia. An organization called the World Gold Council surveyed 2,023 investors and cryptocurrency turned out to be the fifth-largest investment next to gold. The World Gold Council (WGC) is considered an authority on the gold industry as the market development organization works with all types of industry leaders in the precious metals field. WGC also manages the very popular web portal gold.org and it often publishes research studies concerning safe-haven investments. Just recently, WGC published a report concerning gold investments in Russia and the study also touched upon cryptocurrency investments as well. The WGC surveyed 2,023 Russian investors that stem from all around the country. 68% of the surveyed participants said “gold is seen as an effective store of value.” “Most Russian investors believe [gold] holds its long-term value and protects against currency and inflation fluctuations,” the WGC study details. In a chart that highlights the “investments in Russia over the past 12 months,” cryptocurrency investment vehicles represent a higher percentage than gold. Cryptocurrency is listed as the fifth-most popular investment vehicle with a percentage rating of around 17%. Meanwhile, gold is roughly 16% among the 2,021 WGC survey participants. Ahead of cryptocurrency investments include things like savings accounts, foreign currencies, real estate, and life insurance respectively. Below cryptocurrencies and gold on the WGC list are investments like collectibles, gold coins, stocks, and government-issued bonds. Additionally, the WGC authors wrote that crypto investment is taking place in Russia even though regulations are quite gray in the region. “The rise of cryptocurrencies demonstrates that there is a desire for choice and appeal among retail investors. As the Russian investment market takes shape, opportunities for different investment products will emerge and gold will need to respond,” the WGC authors said. What do you think about the WGC report which shows cryptocurrencies as being Russia’s fifth-most popular investment? Let us know in the comments section below. The post World Gold Council Survey Shows Cryptocurrency Investment the 5th Most Popular in Russia appeared first on Bitcoin News. View the full article

Juan Benet, a founder at Filecoin, is attacking Justin Sun for spreading completely false accusations about the movement of the FIL tokens soon after listing. In his long Twitter rebuff, Benet accuses Sun of spreading lies with the intention of harming the Filecoin project financially. Calling the accusations ridiculous, Benet says no one from the Filecoin team sold the FIL token on the day of listing. Soon after the FIL token went live on many exchanges, Sun unexpectedly tweeted alleging that Benet and others at Filecoin had exit scammed. This follows reports the Filecoin team had dumped 1.5 million tokens on some exchanges. Sun alleged that the community had not been informed about the transfer of tokens to exchanges. He went on to encourage the United States-based FIL token buyers to report the matter to the U.S. Securities and Exchange Commission. The Sun Filecoin Hard Fork Theory However, in a long Twitter thread in which he also responds to the other allegations against Filecoin, Benet speculates the motives behind Sun’s attack on the FIL token as he writes: My guess is that Justin plans to fork Filecoin as well, and hopes to trump up a reason. Sorry, Justin, you’re nobody’s saviour. Benet, who uses an expletive to dismiss Sun’s allegations, reminds his followers about his controversial takeover of Hive. In March, reports emerged that some prominent community leaders of Steem, possibly dissatisfied with Sun’s hostile takeover, were hatching a plan to hard fork. Eventually, the hard fork occurred leaving Sun without access to the developer’s reward. Meanwhile, continuing his attacks on Sun, Benet warns Filecoin miners against supporting any such hard fork saying: Look at the history of projects associated with Tron, and confirm you want that. [And] you may become the victim of a huge pump and dump scam. Good Luck. Benet, however, admits that there are questions about some of the “unvested FIL sent to some exchanges.” Still, he insists that these “were not sales of FIL from PL or any team members.” Benet explains the elaborate steps taken by the Filecoin team to stabilize the token “in the early days after launch when prices are at risk of being volatile.” The FIL token, which had opened at $200 on some exchanges, lost more than half of its value in the first 24 hours. At the time of writing, the token had lost further ground and was trading at $30. New Dumping Allegations However, as Benet insisted that no token dumping had occurred, fresh reports emerged suggesting that even more FIL Testnet tokens were moved to exchanges and sold. Explaining the events as they occurred, one Twitter user, Crypto Chris G says: “Basically miners dumped their testnet coins crashing the price then complained they should change the locking schedule since more supply was on market. Filecoin had to accept the miners’ proposals & 25% immediately unlocked. How did testnet coins become real? Was there a code bug?” In the long thread, Crypto Chris G explains why he thinks miners are not as innocent as they have been portrayed. The user concludes his analysis by stating that “miners aren’t victims of the Filecoin team releasing coins early.” Instead, he says “they played this great, pulled huge profit from testnet coin selling for real $ then crying wolf to gain more.” Soon after listing, Filecoin miners went on strike alleging the ineffectiveness of the economic model used. However, in his own thread, Benet dismisses the reports while claiming that miners are “following protocol and making a ton of money doing so.” However, in comments that appear to corroborate Crypto Chris G’s account, Benet says: “There are many people hoping to get rich quick with Filecoin without contributing value to the network — that’s just not how it works. This isn’t what the protocol rewards.” What are your thoughts about the FIL token issuance? Share your views in the comments section below. The post Filecoin Founder Accuses Justin Sun of Spreading Lies About FIL Tokens as Fresh Dumping Allegations Emerge appeared first on Bitcoin News. View the full article

The web portal bitcointreasuries.org now shows close to two dozen firms with a large number of bitcoin reserves. Currently, the aggregate total bitcoin held in reserves by the 23 companies listed is roughly 785,999 BTC worth well over $10 billion dollars. This past August the billion-dollar firm Microstrategy announced it purchased 21,454 BTC for around $250 million. Then the Nasdaq listed company bought another 16,796 BTC and Microstrategy raised its reserve status to 38,250 bitcoins. Following Microstrategy’s lead during the first week of October, the firm Square Inc. revealed it purchased 4,709 bitcoins for its treasury reserves. Since these two companies made the announcements it sparked the creation of a web portal called bitcointreasuries.org, which highlights an aggregate list of companies holding bitcoin treasuries. When news.Bitcoin.com first reported on bitcointreasuries.org there were 13 companies listed with a combined total of 598,237 BTC ($7.6B) or 2.85% of the total supply on October 10. Fast forward to today, and there’s now 23 firms represented on the bitcoin treasury list and a lot more crypto added to the equation. Prices for this bitcointreasuries.org report were recorded at approximately 3:00 p.m. (EST) on Wednesday, October 21, 2020. The list is now broken up into three categories which include publicly listed businesses, private firms, and ETF-like organizations. 15 of the companies are public firms including Microstrategy, Square Inc., Galaxy Digital Holdings, Hive Blockchain, Coin Citadel Inc., and Argo Blockchain. These 13 public firms have an aggregate total of 67,536 BTC worth $863 million today. Below the catalog of public companies, is a list of three private organizations including Block.one (140,000 BTC), the Tezos Foundation (24,808 BTC), and Stone Ridge Holdings Group (10,889 BTC). These three private firms have an aggregate total of 175,697 BTC worth $2.2 billion today. In the ETF-like section of businesses listed on bitcointreasuries.org, there are five organizations mentioned. The ETF-like firms include the Grayscale Bitcoin Trust (456,537 BTC), Coinshares XBT (69,730 BTC), 3iQ The Bitcoin Fund (8,295 BTC), ETC Group Bitcoin ETP (5,215 BTC), and 21Shares AG (2,989 BTC). These five ETF-like organizations have an aggregate total of 542,766 BTC worth $6.9 billion today. The combined total of all 23 companies listed on bitcointreasuries.org holds 785,999 BTC worth over $10 billion using current exchange rates. The 785k BTC is approximately 3.74% of bitcoin’s 21 million capped supply. The list does not include Tahinis restaurant chain or the company Snappa, two firms that claimed a percentage of bitcoin reserves but not an actual BTC count. Bitcointreasuries.org says that companies like Tahinis were not included because they only added firms “that can be easily verified.” In addition to the firms’ Tahinis and Snappa, another company called Mode announced on Wednesday it acquired bitcoin for reserves as well. However, according to calculations, the number of bitcoins Mode holds in reserves is only around 6.7 BTC. What do you think about the number of companies holding bitcoin reserves? Let us know what you think in the comments section below. The post $10 Billion in BTC Reserves: Companies With Bitcoin Treasuries Command Close to 4% of the Supply appeared first on Bitcoin News. View the full article

Cryptocurrency markets have seen intense gains on Wednesday after the payment processor Paypal announced it would be supporting digital currencies. At the time of publication, the market cap of all 7,000+ digital assets has gained 5.6% hovering above $379 billion during the afternoon trading sessions. Digital currency markets have increased a great deal during the last 24 hours as the aggregate crypto market capitalization is nearing $400 billion. The price of bitcoin (BTC) spiked on Wednesday morning after Paypal revealed cryptocurrency support during the morning trading sessions. BTC has gained 7.1% during the last seven days and the price is close to touching $13k per coin. During the last 30 days, BTC is up 22% and over 76% year-to-date. At the time of writing, BTC is currently swapping for $12,839 a unit. Behind BTC, is ethereum (ETH) which has gained 6.9% during the last week as the coin is currently trading for $397 per unit. ETH is followed by tether (USDT) and XRP which is up 4.4% today at $0.25 an XRP. The fifth-largest market cap is held by bitcoin cash (BCH) and its markets have gained 7.1% on Wednesday. BCH is trading for $261 per coin and is up 22% for the last 30 days and 26.9% for the last year. No one’s quite sure where bitcoin and the rest of crypto markets will go from here but bitcoin (BTC) is inching toward a key macro level. BTC’s price is higher than it was in mid-August and slowly approaching the 2019 all-time high (ATH). On June 26, 2019, bitcoin’s ATH that day touched $13,796 per coin. This means at today’s price of above $12,800 per coin, BTC will need to gain more than 7.5% to surpass the June 2019 ATH. A number of crypto proponents are attributing Wednesday’s bullishness to the Paypal news but also the number of firms joining bitcointreasuries.org as well. Furthermore, traders are eying bitcoin futures and options markets as well, as bitcoin options traders are prepping for big moves ahead. In addition to BTC nearing the $13k zone, the cryptocurrency has stayed above $10k for 87 days straight which means the 62 day run in 2017 has been broken. What do you think about the positive action within crypto markets during the last 48 hours? Let us know what you think in the comments section below. The post Market Update: Bitcoin Nears $13,000, Holds Record-Breaking 87-Day Streak Above $10K appeared first on Bitcoin News. View the full article

Coinend has announced the launch of its cryptocurrency gamified platform. GPC DIGITAL S.A operates this cryptocurrency-based gamified prediction portal, a corporation incorporated in Panama. It allows users to predict the closing price based on hourly, daily and weekly prices of various cryptocurrencies, with a reward for all participants. In a statement by the CEO, Godspower Egbetamah, “the company is now set to explore the gamified niche of the cryptocurrency industry and focus on sharing reward for all participants. The pool prize per event is shared by both the winners and the runners-up in each event pool based on a 30% (winners) to 70%(runners-up) sharing system powered by blockchain for transparency”. In the new announcement, the company is set to provide a platform for users to predict and place bets on future values of cryptocurrency. With this, crypto enthusiasts can come together and predict the value of BTC/USD AND ETH/USD for the closing price of a cryptocurrency with an equal amount of bitcoin token per participant in an event pool. The predicted value in USD of a given cryptocurrency for each event goes into a live event pool, where every participant in the pool gets to see how close their predicted price value is to the current price value until the end of the event pool. Apart from this, the company is also set to explore the Decentralized Finance (DeFi) aspect of cryptocurrency by providing a platform where users can have access to a loan in a peer-to-peer manner. Decentralized Finance is one of the most quickly growing innovations in financial services which aim for a broader approach of generally decentralizing the traditional financial industry. The core of the initiative is to open traditional financial services to everyone, by providing a permission-less and peer to peer financial service ecosystem based on blockchain infrastructure. As such, Decentralized Finance (DeFi) is the movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries. The core traditional financial service use cases that are currently being revolutionized by DeFi include trading, lending, investment, wealth management, payment and insurance. This is being made possible by blockchain technology, and it is the core of the existence of the company as mentioned by its COO, Victory Onojohwo. In the case of Coinend, the company will be focusing on the lending aspect of DeFi so that platform users can lend themselves up to 1 BTC and earn a profit (interest) without even participating in a pool event. Worthy to note is that 91.024294BTC has been distributed between platform users since inception. With this launch, Coinend is committed to create a transparent community that shares reward among members and drive cryptocurrency inclusion for many. During the announcement, Coinend management board also announced a new website design that highlights how the gamified platform and its reward system is set to work and a new mobile application with a flawless user interface. This will allow participants to easilyplace bets and see the prize pool on the platform for the currency for which the events are running. As it is known that a good whitepaper is considered to be the single most important form of business collateral because it drives client acquisition via leads generation, mindshare building, opening doors to new sales opportunities and having 76% of investors used them as part of their decision making efforts. The team also announced a new whitepaper that is professionally rewritten to augment its marketing efforts. This isavailable for download on the website. The company understands that having strong management and a proven technical strategy in place is fundamental to its success. As such, its portfolio construct is primarily driven by its focus on the cryptocurrency/blockchain industry as a whole, and this is why only the best brains in the industry have come together to achieve this landmark feat. The team consists of impressive experts in the cryptocurrency/blockchain niche, professionals in the digital marketing solution niche, and thought leaders in tech that maintain the performance of the company’s reward sharing system so that it can run in a highly scalable environment without issues. In the coming days, Coinend will start rolling out more information about its activities and reward system to consolidate its position in the cryptocurrency gaming niche and strengthen its portfolio. 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 Coinend: 1,2,3 Take off – New Gamified Crypto Prediction Platform appeared first on Bitcoin News. View the full article

Payments giant Paypal says its customers can now buy, sell and hold bitcoin and other virtual coins with the company’s online wallets. The company also says its customers will able to use cryptocurrencies to shop at the 26 million merchants on its network starting in early 2021. A report quotes the company’s President and Chief Executive Dan Schulman saying they hope “the service will encourage global use of virtual coins and prepare its network for new digital currencies that may be developed by central banks and corporations.” “We are working with central banks and thinking of all forms of digital currencies and how Paypal can play a role,” said Schulman. According to a report, U.S. account holders can start buying and selling cryptocurrencies in “the coming weeks” while there are plans to expand “this to Venmo and some countries in the first half of 2021.” The report adds that Paypal, which has secured the first conditional cryptocurrency license from the New York State Department of Financial Services (NYDFS), “will initially allow purchases of bitcoin and other cryptocurrencies called ethereum, bitcoin cash, and litecoin.” Paypal has partnered with Paxos Trust Company to offer the service. Meanwhile, the report further explains: Cryptocurrency payments on Paypal will be settled using fiat currencies, such as the U.S. dollar, meaning merchants will not receive payments in virtual coins. The news of Paypal’s entry into the cryptocurrency space is a huge endorsement for crypto assets and it comes as more mainstream organizations are buying bitcoin and other digital assets. The payments giants’ entry is likely to spark the wider adoption of cryptocurrencies given its wide reach. According to the report, Paypal “has 346 million active accounts around the world and processed $222 billion in payments in the second quarter.” What do you think of Paypal’s entry into crypto space? Tell us what you think in the comments section below. The post Payments Giant Paypal Says Its Customers Can Now Buy and Sell Bitcoin appeared first on Bitcoin News. View the full article

A group of hackers has donated some of the bitcoin it extorted via ransomware attacks to charities, claiming that it wants to “make the world a better place.” However, the law says donations from ill-gotten gains must be rejected but charities have no way of returning donated bitcoin to the hackers. Hackers Donate Bitcoin to Charities A group of hackers known as “Darkside” has surprised the world by donating a portion of the proceeds from ransomware attacks to two charities, the BBC reported Monday, adding that the group is relatively new on the scene. Darkside hackers claim to have extorted cryptocurrencies worth millions of dollars from companies. Claiming that they now want to “make the world a better place,” the group donated 0.88 BTC, worth about $10,000, from their ransomware proceeds to two charities: The Water Project and Children International. The Water Project works to improve access to clean water in sub-Saharan Africa while Children International fights poverty and helps children in need. The Darkside hacker gang posted the tax receipts for its 0.88 BTC donations in a blog post on the dark web on Oct. 13. The hackers claim that they only attack large, profitable companies with ransomware and would not attack hospitals, schools, governments, or charities. Experts question the hackers’ motive. “What the criminals hope to achieve by making these donations is not at all clear,” said Brett Callow, a threat analyst at cyber-security company Emsisoft. “Perhaps it helps assuage their guilt? Or perhaps for egotistical reasons they want to be perceived as Robin Hood-like characters rather than conscienceless extortionists.” He elaborated: Whatever their motivations, it’s certainly a very unusual step and is, as far as I know, the first time a ransomware group has donated a portion of their profits to charity. However, when the donation comes from crime proceeds, the law says it must be rejected. Both charities have said that they will not accept the BTC donations, but the problem is that they have no way of returning them. The hackers used a U.S.-based service called The Giving Block, which is used by 67 different non-profits worldwide, to make the donations. The company says that the money was sent through a mixer. Philip Gradwell, Chief Economist at blockchain data analytics firm Chainalysis, commented: “If you walked into a charity shop with an anonymous mask on and donated £10,000 in cash, then asked for a taxable receipt, questions should probably be asked – and it’s no different.” What do you think about hackers donating bitcoin to charities? Let us know in the comments section below. The post Hackers Donate Bitcoin From Ransomware Attacks to Charities appeared first on Bitcoin News. View the full article

The European Commission (EC) is opposing the creation of the crypto crime victim superfund to be financed with $0.0001 per dollar on all cryptocurrency transactions occurring within the EU. The Commission says that it does not have the competence to set up and administer such a fund. It also argues that most crypto crimes occur outside the EU jurisdiction. EC Says It Lacks the Needed Competencies The EC made the remarks in response to a petition lodged with the European Union Parliament (EUP) by a consortium of crypto fraud victims. In their petition, the victims insist that the EC, which is one of the largest bureaucracies, is ideally placed to administer the proposed fund. In its response to the EUP, the Commission, which has previously turned down the petition, says victims must instead “continue to pursue their respective cases through national law enforcement agencies.” According to the EC, victims can “seek compensation through existing channels or with the legal persons responsible for their loss.” The Commission also clarifies that “EU rules on compensation may be applicable in cases of intentional violent crime.” Victims Say EC too Cozy With the Industry Meanwhile, the victims have assailed the EC’s tepid response and accused the Commission of taking an “anti-consumerism” stance. In a statement, the victims’ lawyer Jonathan Levy says: The EU Commission pleads a lack of competence to assist victims of crypto crime even while promulgating a union-wide regulatory scheme for crypto assets. The Commission administers billions of Euros in grants and credits every year and has one of the most expansive and well-trained bureaucracies in the world but cannot administer a simple victim fund which is self-replenishing through a virtually unnoticeable .0001 cent per Euro transaction fee. The lawyer reveals that the Commission has invested over $110 million in blockchain innovation awards and investments. However, pointing out that the EC’s claims that it lacks the ability to administer the superfund ring hollow, Levy says the Commission “must have some competency in overseeing crypto assets unless it simply distributes the Union’s funds with no hope of oversight.” With the EUP estimating that at least $5 to $5.5 billion in crypto-asset fraud occurs annually in the EU, the lawyer suggests that by failing to take action, the EC will be seen as abetting crypto criminality. Levy, whose clients have suffered losses exceeding $44 million, adds: “The EU Commission itself remains a host to crypto criminality in a major way with the European Commission delegated ccTLD .EU being a continuing host to the One Coin/One Life pyramid scam which has defrauded victims (including my clients) of well over $4.4 billion.” The Onecoin crypto pyramid scheme, which recently had its scam warning alert dropped by the Financial Conduct Authority, remains operational despite the arrests and disappearance of some of the masterminds. Expert Says Superfund Feasible Meanwhile, in an expert opinion lodged with the EU Parliament Petitions Committee on October 20, technical expert Michael K McKibben, says he found “that the distributed ledger nodes already charge a node transaction or relay fee on much of the $110 billion daily crypto asset trading volume.” The technical expert agrees with the petitioners that the addition of an “unnoticeable .0001 cent per $ insurance fund fee would provide for a victim superfund.” The expert concludes that since crypto assets are currently uninsurable, therefore “the proposed EU superfund would provide much-needed relief for victims of Ponzi schemes, hacks, fraudulent ICOs and extortion that utilize or involve crypto assets.” McKibben, an American software engineer, also gives his opinion on why he thinks the superfund is viable: Many nodes are actually slave units with no independent discretion thereby making the addition of an EU insurance fund fee to a distributed ledger system relatively simple to implement. After failing to get redress via national courts, victims of crypto fraud are now pushing for EU authorities to help set up the self-replenishing superfund. However, in the wake of the Commission’s response, the EUP will continue to seek input before deciding the next step. Meanwhile, Levy says other stakeholders can still come forward and give their opinions to help bolster the petition. What do you of the EC’s latest response to the petitioners? Tell us what you think in the comments section below. The post European Commission Opposes Crypto Fraud Compensation Fund: Victims Say Commission Cozying up to the Industry appeared first on Bitcoin News. View the full article

Trends in bitcoin options markets are making it difficult for financial analysts to pinpoint BTC’s next move. Data from CME’s recently published trader report shows that institutional investors are capturing a larger number of bitcoin long contracts, while hedge funds are showing an all-time high for bitcoin short contracts. On Tuesday, the price of bitcoin (BTC) has been attempting to capture the $12k price zone and a number of people are focused on the crypto assets’ next moves. While a number of crypto traders are extremely bullish some people believe that digital currency derivatives markets may hold prices back. For instance, in response to BTC climbing toward the $12k zone, one individual wrote: I am betting on futures/options holding it back a bit as a major factor- but we will see. On October 16, the research and analysis firm Skew.com tweeted about data that stemmed from CME’s recently published Commitment of Traders (COT) report. CME’s report published on the Commodity Futures Trading Commission (CFTC) website gives explanatory notes about the weekly COT. Skew tweeted a chart from the COT and said: [Hedgefunds all-time short [and] institutions all-time long. Who is wrong? The digital currency analyst, Mitchell Nicholson, replied to Skew’s tweet by saying many hedge funds “are likely shorting CME futures hedged to capture the basis or providing liquidity to the institutions going long.” Statistics show that bitcoin options open interest stands at more than $2.5 billion on Tuesday (Oct. 20), as the trading platform Deribit dominates most of the bitcoin options action. Deribit captures $2.12 billion, while the Chicago Mercantile Exchange (CME) has around $139 million. A number of traders don’t know which way the price will go even though BTC is up 24.8% for the last 90 days and up 45.1% during the last 12 months. The options trader Theta Seek told his 9,000 followers that it’s hard to imagine a mega pump coming at the end of the year. “It’s hard for me to imagine a Q4 pump mega,” Theta Seek tweeted. “All whales selling in order to prep to tax. Unless you’re telling me that the majority of crypto are in tax havens such as SG and HK. Sentiments shared amongst options market makers who are pricing monthly IV at 30%+” The analyst Ecoinmetrics explained on Monday that traders are prepping for big moves to come in the next few months. “When you look at the distribution, traders are positioned for ‘big moves’ in the months to come. But in the meantime following the market activity is like watching paint dry,” the researcher said. What do you think about the recent bitcoin options markets and current bitcoin price action? Let us know what you think in the comments section below. The post Institutions Long and Hedge Funds Short: Bitcoin Options Traders Prep for ‘Big Moves’ Ahead appeared first on Bitcoin News. View the full article

Larry Dean Harmon, founder and operator of early bitcoin mixing services Helix and Coin Ninja, is being fined $60 million by the U.S. Treasury’s Financial Crimes Enforcement Network (Fincen) for allegedly violating anti-money laundering rules. According to documents published Oct. 19 by Fincen, the fine surrounds the transmission of “at least 356,000 bitcoin transactions through Helix between June 2014 and December 2017” on behalf of criminals using the dark web. Prosecutors allege Harmon was running an unregistered money services business (MSB) in violation of the Bank Secrecy Act (BSA). The Ohio software developer had a duty to report suspicious activity, they say, but he systemically violated U.S. money laundering regulations. Fincen said Harmon openly marketed Helix as a service that didn’t care about know-your-customer processes and facilitated more than $311 million worth of transactions in bitcoin (BTC). The largest volume of crypto cleaned through the Helix mixer allegedly came from dark web markets like Alphabay, Dream Market, and Agora Market. The Fincen charges state: Mr. Harmon willfully violated the BSA’s registration, program, and reporting requirements by failing to register as a MSB…[he] engaged in transactions with narcotics traffickers, counterfeiters and fraudsters, as well as criminals. Bitcoin mixers, or tumblers, are used to obfuscate the origin or ownership of crypto transactions – usually for the purpose of eluding unwanted attention from law enforcement. Harmon later founded and acted as the chief executive officer of Coin Ninja from 2017 to 2020. Coin Ninja operated in the same manner as Helix, including as an unregistered money-services business, Fincen said. According to the enforcement action, the transactions conducted by Harmon allowed customers to pay for things like drugs and child pornography on darknet markets, as well as support counterfeiting and fraudulent activities. The action is the first by the U.S. Treasury Department bureau against a convertible virtual currency “mixer” or “tumbler,” exchanges designed to conceal the source of the currency, the agency said. Harmon was arrested in February for his operation of Helix. He faces charges of conspiracy to launder monetary instruments, operating an unlicensed money transmitting business, and conducting money transmission without a license in the District of Columbia. He’s currently out on bail. What do you think about the penalty imposed on Helix and Coin Ninja? Share your thoughts in the comments section below. The post US Financial Watchdog Fines Bitcoin Mixer Service for $60 Million appeared first on Bitcoin News. View the full article

Berlin, October 20, 2020: Finoa, one of the leading digital asset custody and financial servicing platforms in Europe, and Dapper Labs, the company known for creating CryptoKitties and NBA Top Shot, announces that Finoa has been exclusively selected as one of top custody providers for FLOW and the main one that offers institutional-grade custody. The FLOW token (“FLOW” or “𝔽”) is the native currency for the Flow network and the fuel for a new, inclusive, and borderless digital economy. In addition to institutional-grade custody, investors will also be able to stake and delegate their allocations directly from Finoa’s secure infrastructure, providing a unique opportunity for token holders to contribute to the network in a seamless, safe and secure way. Flow is geared towards becoming the blockchain foundation for the next generation of games, app, and digital asset developers to bridge the gap between billions of people, delivering rich digital experiences powered by blockchain. The protocol is designed to scale using a multi-role architecture rather than sharding, resulting in increased speed and throughput while remaining developer-friendly. “We are extremely excited about the opportunity to work with the Dapper Labs team and support the aspiration of bringing the next generation of blockchain-enabled entertainment to mainstream with the FLOW protocol. An impressive track record, great partners, and unique blockchain characteristics make for a very bright future ahead, and we are very happy to be part of the journey as the preferred custodian.” – Finoa Co-Founder & Co-CEO Henrik Gebbing. “With a very ambitious timeline, Finoa has proven itself as a reliable, flexible and trustworthy partner. We are delighted that professional investors in FLOW will have the opportunity to deposit their allocations into institutional-grade custody from day one.” – Flow Head of Partnerships Mickey Maher ———- About Dapper Labs Dapper Labs is the company behind CryptoKitties and initial creator of the Flow blockchain as well as upcoming titles like NBA Top Shot. Founded in 2018, Dapper Labs uses blockchain technology to bring new forms of digital engagement to fans around the world. Blockchain-enabled applications can bring fans closer with the brands they love, give people a real stake in the communities they contribute to, and create new ways for consumers to become creators themselves. Publicly-announced Dapper Labs partners include the NBA and NBPA, Warner Music Group, Ubisoft, and UFC. Notable investors in Dapper Labs include Andreessen Horowitz, Union Square Ventures, Venrock, Google Ventures, Samsung, and the founders of Dreamworks, Reddit, Coinbase, Zynga, and AngelList, among others. Contact Weilei Yu weilei@dapperlabs.com www.dapperlabs.com About Finoa Your Key to Digital Asset Banking – Finoa is a regulated custodian for Digital Assets, servicing professional investors with Custody and Staking. The platform enables its users to securely store and manage their crypto-assets, while providing a directly accessible, highly intuitive and unique user-experience, enabling seamless access to the ecosystem of Decentralized Finance (DeFi). Reference customers include the world’s most renowned Venture Capital firms, large corporations and financial institutions. Finoa was founded in Berlin in 2018, has received a preliminary crypto custody license (§64y Para. 1 KWG) and supervised by the German Federal Financial Supervisory Authority (BaFin). Contact Marius Lunding Smith marius@finoa.io www.finoa.io 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 Finoa and Dapper Labs Announce Exclusive Partnership To Bring Institutional-Grade Custody To Flow Ecosystem Investors appeared first on Bitcoin News. View the full article

As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy. Russia’s Central Bank Plans Digital Ruble The central bank of Russia has outlined its plans to conduct an experiment using the digital ruble with a limited number of participants after public consultations, Izvestia publication reported last week. The Bank of Russia announced the development of the digital ruble and public consultations on its issuance on Oct. 13. Public comments on the issuance of the digital ruble are accepted until Dec. 31. Five Russian banks have already expressed interest in participating in the central bank digital currency (CBDC) pilot: Credit Bank of Moscow, Promsvyazbank, Bank Zenit, Dom.RF, and Russian National Commercial Bank. The State Duma, the lower house of the Federal Assembly of Russia, expects the digital ruble experiment to start in the first half of 2021. The digital ruble wallet can be used to pay for goods and services in stores where payment terminals will be configured to accept it. The central bank says that if the digital ruble is adopted, Russians may be able to receive salaries and benefits in it, the publication noted. After public consultations, if it is decided that a digital ruble will be created, the Bank of Russia will build a platform for it that will become part of the country’s payment infrastructure. The central bank was quoted as saying: Citizens and businesses will be able to purchase digital rubles by exchanging them for cash or funds stored in their bank accounts. The possibility of receiving salaries, benefits or other payments in digital rubles is also being considered. The Russian Ministry of Finance independently told the publication this week of possible pros and cons of the digital ruble. “Its advantages in the finance department include a reduction in transaction costs and the volume of burden on banks, an increase in cross-border payments, as well as a decrease in dependence on the dollar and exposure to sanctions,” the news outlet conveyed. Russia has been consistently pursuing a policy to reduce dependence on the dollar for several years. The Russian government started exploring the cryptoruble back in 2017. There was even a bill to make the cryptoruble legal tender in Russia. However, the discussion fizzled out over time as the central bank opposed the concept. Proposed Bitcoin Purchase Limit Meanwhile, the Bank of Russia has proposed limiting the amount of cryptocurrency that unqualified investors can buy each year to 600,000 rubles ($7,734). The central bank’s proposal reads: A limit is set for the purchase by an individual, unqualified investor, digital financial assets totaling 600,000 rubles within one year. The restriction, if adopted, is expected to enter into force when the law “On Digital Financial Assets” comes into effect on Jan. 1 next year. Public comments on the proposed restriction can be submitted until Oct. 27. What do you think about Russia’s digital ruble? Let us know in the comments section below. The post Digital Ruble: Russia Unveils Plans to Test Central Bank Digital Currency appeared first on Bitcoin News. View the full article

Bitcoin and gold holder Dan Tapiero, says it is still early to talk of widespread crypto adoption as the proportion of users relative to the rest of the population remains low. Tapiero makes the remarks while referring to a study, which places Nigeria at top of the list of countries with the highest number of respondents that say they own or are using cryptocurrency. According to the study, 32% of surveyed Nigerians say they used or owned cryptocurrencies in 2020 while in Japan, which is last on the list, only 4% say they owned cryptos in 2020. The survey, which was conducted by Statista, shows that countries with emerging economies like Vietnam (21%) and South Africa (17%) have more respondents who say they used or owned cryptos in 2020. Spain (10%) is the only developed country where the percentage of respondents that own or used cryptocurrencies get to double-digit figures. In the United States, which appeared to be the focus of Tapiero’s tweet, the percentage of respondents that confirm owning or using crypto is only 7%. In his tweet, Tapiero who is the Co-founder at 10T Holdings infers that the world is currently seeing the crypto which is “still at the birth of a new global asset class.” Some Twitter users were quick to query the methodology of the study and Tapeiro admits that “there are countries that belong on this list that are not listed.” Still, another Twitter, Alexander Burgei insists that the “data is really clear” and that adoption is already happening but “only in dysfunctional countries, as a backup to devaluating currencies.” While adoption is already happening in some countries, the Twitter user says “it will not be real until it´s taken by the Western powers and China.” Meanwhile, in an earlier tweet, Tapiero claims that “it is the beginning of the end for banks” and urges them to either “adapt or perish.” He adds: Time to pivot towards the digital asset ecosystem. Bitcoin is the pristine collateral at its centre. The whole new world now growing up alongside the legacy system. Tapiero’s remarks come as fintech and payment firms continue to eat into the banks’ share of market capitalization. According to data shared by Tapiero on Twitter, fintech, and payment firms only accounted for less than 10% in 2010. This figure has grown to nearly 30% share of the market capitalization. There are expectations that this trend is set to continue and banks that fail to embrace emerging technologies will lose influence. Do you think cryptocurrency adoption is happening faster in some regions than in others? Tell us your thoughts in the comments section below. The post Macro Investor Dan Tapiero on Crypto Adoption: Emerging Economies Ahead of Developed States appeared first on Bitcoin News. View the full article

A great number of Non-fungible tokens (NFTs) have been selling on various marketplaces this year creating tens of thousands of dollars in NFT sales. One particular platform called The Sandbox has been selling virtual land parcels for thousands of dollars worth of ether. The Sandbox is a virtual world that lets players create and own blockchain-backed virtual items in the metaverse built on the Ethereum network. On October 18, Sandbox revealed two 6×6 estates had been sold for 210 ether ($76,931) or 28x the original price. In the future, digital currencies will be an integral part of the online world individuals call the “Metaverse.” The Metaverse is essentially a persistent virtual space converged with virtual reality. Current blockchain applications allow people to not only create 3D virtual spaces and items, but also own them in an immutable fashion as well. At the end of July, news.Bitcoin.com reviewed the virtual world dubbed “Decentraland,” and observed all that has been built since it was invoked over four years ago. However, there’s another virtual ecosystem being constructed called The Sandbox. The player-created online world has been the fifth-largest seller in terms of NFT trade volume, according to today’s nonfungible.com data. The Sandbox map. The Sandbox blockchain-based game was created by the startup TSB Gaming, a subsidiary of the firm Animoca Brands. Data shows that the game has seen an aggregate total of 42,420 sales worth $2.2 million to-date. During the last 30 days, $555k worth of Sandbox NFT sales were recorded by nonfungible.com. Basically The Sandbox game leverages a voxel editor so users can create 3D assets and develop on land parcels that can be purchased with the project’s native token SAND. The assets participants create can also be sold in the Sandbox marketplace for SAND as well. On Sunday, the project’s official Twitter account revealed two 6×6 estates had been sold for 210 ETH worth over $76k. The blockchain-based VR game will feature a virtual “Care-a-Lot Kingdom” featuring Cloudco Entertainment’s the Care Bears. The cofounder of The Sandbox, Sébastien Borget, said the two 6×6 estates sold were a record sale on the platform. The 6×6 estates were sold next to the virtual Atari theme park region. The established video game maker Atari joined forces with the blockchain game back in March, and detailed a number of Atari favorites will be made available in the 3D Sandbox world. Atari has quite a bit of land in The Sandbox virtual world and the region will feature some of Atari’s classic arcade games. Additionally, Atari detailed that Sandbox visitors will be able to obtain Atari-issued in-game assets. The firm also announced atarichain.com and the Atari Token (ATRI) offering last week, but it’s uncertain if ATRI will be available to use in the Sandbox game after launch. Sandbox is betting big on the blockchain-based virtual ecosystem, but it remains to be seen how popular the platform will become. Decentraland’s popularity has waned since the virtual world’s initial launch, and the app has dropped to the seventh-most used NFT-based ether app in terms of NFT trade volume. Most of the virtual worlds online like Altspace-VR lack participants and it may take a while for blockchain-based VR attempts to catch on. Besides Roblox and Minecraft, hundreds of VR and voxel-based worlds have seen lackluster adoption and only a small amount of users. However, Sandbox is adding well known partners to the equation and it may give the platform a boost. Sandbox’s parent firm Animoca Brands recently announced a partnership with Cloudco Entertainment, the owner, content producer, and global distributor of the Care Bears. In addition to Atari and Cloudco, other well known firms like Square Enix, Shaun the Sheep, and Rollercoaster Tycoon World have also partnered with Sandbox. What do you think about the blockchain-based game Sandbox? Let us know what you think about this subject in the comments section below. The post An Ethereum VR Game Featuring Atari and Care Bears Sells Plots of Virtual Land for $76K appeared first on Bitcoin News. View the full article

On Monday, the International Monetary Fund (IMF) published a report on crypto assets like central bank digital currencies (CBDCs) and global stablecoins (GSCs). Moreover, the IMF also hosted a virtual panel that discussed digital currencies and cross-border payments with the Federal Reserve Chair Jerome Powell. The Fed Chair says as far as a U.S.-issued CBDC is concerned, it is “more important to get it right than to be first.” The IMF held a virtual panel that discussed digital currencies and cross-border payments on Monday morning. The panel was hosted by the IMF managing director in Washington, DC, Kristalina Georgieva, and the Federal Reserve Chair Jerome Powell participated. Reports note that Powell talked about the impact of a U.S.-issued CBDC and how it could affect financial stability. “We do think it’s more important to get it right than to be first and getting it right means that we not only look at the potential benefits of a CBDC, but also the potential risks,” Powell said during the panel discussion on Monday. “Also recognize the important trade-offs that have to be thought through carefully.” The report published by the IMF on the same day, also highlights that CBDC’s could be beneficial, but may not cast a net over every monetary issue. For instance, CBDCs may not help if a local currency is a poor unit of account, the IMF report stresses. Further, a currency substitution “depends on the degree of monetary stability and other country circumstances, including legal frameworks and regulation.” The IMF’s report details that the emergence of CBDCs and GSCs will require further analysis. The researchers say that countries that invoke a CBDC should also consider whether or not nonresidents should use their CBDC. “Authorities will also need to assess whether restrictions on payments in CBDCs are consistent with countries’ obligations under international and bilateral treaties, including the IMF’s Articles of Agreement,” the IMF report insists. “For countries that adopt GSCs issued by Big Tech platforms, they will have a strong interest in ensuring that the GSC arrangement has robust governance and risk management,” the IMF report further states. Still, the IMF researchers claim that even though there are unknown risks associated with crypto assets like GSCs and CBDCs, the pace of digital acceleration is constantly innovating. The researchers continue by adding: As the pace of digitalization accelerates, the landscape of international finance will likely be in a state of flux. Payments and financial services provision will likely become increasingly integrated with the digital economy organized through the internet and mobile phones. The IMF report called “Digital Money Across Borders: Macro-Financial Implications” shows the organization and policymakers like Powell are still leery about how to proceed with managing crypto assets. The study and virtual panel show government leaders are still very much in the dark when it comes to blockchain technology, and can’t figure out how to regulate the industry. Prior to the panel of policy-makers featuring Kristalina Georgieva and Jerome Powell, another panel was held by the IMF that conversed about the private sector lending a hand with CBDC and GSC tokens. The private sector panel included Celo CEO Rene Reinsberg, Mastercard senior VP Rory Macfarquhar, Ecurrency CEO Jonathan Dharmapalan, and Stellar CEO Denelle Dixon. What do you think about the IMF’s virtual panel and study concerning digital currencies? Let us know what you think about this subject in the comments section below. The post Monetary Stability: The IMF and Fed Chair Jerome Powell Discuss Digital Currency Implications appeared first on Bitcoin News. View the full article

Room 77, the German bar and restaurant that claims to be the first retail outfit in the world to accept bitcoin payments, has shut down. Cypherpunk Holdings chief economist Jon Matonis broke the news on Twitter. Bar owner Jorg Platzer later confirmed it on Reddit. “Room 77 is closing for good,” Platzer revealed in a rather futuristic, celebratory post on Oct. 18. “We think our mission is accomplished and it is time to go back to our home planet. Thanks for all the fish and the generous tips!” No official reason was given for the closure of the Berlin-based joint. But there’s suspicion this may have been related to the coronavirus pandemic. Lockdown restrictions linked to Covid-19 have hit the global hospitality industry hard. In Berlin, strict restrictions on the sale of alcohol remain in place, with bar operators banned from selling the product from 11 p.m. to 6 a.m. The measures have badly affected profits. Located in Kreuzberg, Berlin, Room 77 began accepting bitcoin (BTC) as a means of payment in 2011, becoming the first bar, and most likely the first private retail outlet, in the world to do so. Since then, the drinking spot has developed into something of a pilgrimage site for bitcoiners, who patronize the place for its BTC payments and more. “Before we did that (accept BTC), all media coverage about bitcoin was about hackers stealing credit card details and selling them on the black markets,” Platzer said in a 2018 interview, highlighting how the establishment had changed media perceptions and coverage around the top cryptocurrency. In the crypto community, people responded to Room 77’s closure with fond memories of the past. “End of an Era: Room 77 in Berlin closes doors permanently!” tweeted Jon Matonis, the Cypherpunk Holdings chief economist. “Blame it on Covid or blame it on gentrification. Either way, this Kreuzberg landmark has served as a Bitcoin watering hole for over 10 years, with thousands making the obligatory pilgrimage. Thx for the memories, Joerg!” Redditor @etrnetm said: “Thanks for providing the unofficial embassy of Bitcoin in Berlin to us earthlings. We shall meet again.” In his Reddit post, Platzer concluded: It is clear by now that nobody will stop bitcoin anymore. Sound money on a global scale will soon make it unfeasable to wage wars and it will create economic equality amongst mankind. We estimate it will take you less than another century to rise and join the intergalactic community. What do you think about the unexpected closure of Room 77? Share your thoughts in the comments section below. The post Bitcoin Bar ‘Room 77’ Shuts Down appeared first on Bitcoin News. View the full article

Euro Pacific Bank, founded by gold bug and bitcoin skeptic Peter Schiff, is reportedly under investigation by the tax authorities of five countries. The bank’s customers allegedly include several tax fraud masterminds and a Russian syndicate described by the FBI as the world’s worst cybercrime group. Peter Schiff’s Euro Pacific Bank Probed by Tax Authorities Euro Pacific Bank, a Puerto Rico-licensed bank founded by gold bug and bitcoin skeptic Peter Schiff, is reportedly under investigation by the tax authorities of Australia, the Netherlands, the U.S., Canada, and the U.K. Several media outlets — The Age, the Sydney Morning Herald, 60 Minutes, and the New York Times — jointly investigated the story. The large-scale probe, dubbed “Operation Atlantis,” was launched simultaneously by the five tax authorities in January, according to an article published Sunday by The Age. Australia’s deputy tax commissioner, Will Day, says this operation targets international money laundering and tax evasion, calling the inquiry into Euro Pacific Bank “unprecedented.” British tax authorities arrested a Euro Pacific client and the U.S. Internal Revenue Service (IRS) intercepted Schiff and his partner Mark Anderson for questioning, the publication noted. The financial transactions of Euro Pacific Bank’s clients were examined, and hundreds of bank customers are suspected of tax evasion, the article details, adding that the authorities are also hunting the lawyers, accountants and financial institutions linking taxpayers to Peter Schiff’s bank. Euro Pacific’s correspondent banks allegedly include Westpac, Western Australian government-backed Perth Mint, the New York Federal Reserve, and Canada’s Bank of Montreal. Customers of Euro Pacific Bank allegedly include Sydney businessman Simon Anquetil who was behind the Plutus Payroll fraud scheme that stole more than $105 million. Other clients include Hollywood film financier Darby Angel, who has a drug trafficking conviction, and Canadian national Gunnar Helgason, who was arrested in 2013 as the mastermind of “an international boiler-room scam.” The FBI also linked an account at Euro Pacific to a Russian syndicate it describes as the world’s worst cybercrime group. At least 400 customers of the bank are from Australia, about 100 of whom are considered “high risk.” Peter Schiff agreed to a Zoom interview with 60 Minutes Australia last month from his home outside of New York. However, he abruptly walked out of the interview after he was repeatedly asked about his bank and its tax evasion probe. “Schiff threatened to sue this publication, ripped off his microphone and stormed out of his own living room,” The Age detailed. 60 Minutes Australia tweeted Sunday: Peter Schiff is adamant authorities won’t find anything to implicate the bank. Euro Pacific Bank’s former IT director, John Ogilvie, also revealed problems with the bank’s security, The Age further reported, noting that at one point Russians tried to extort the bank for a ransom of 1,000 bitcoins. The Schiff family is well known for disliking paying taxes. Peter Schiff’s father, Irwin Schiff, died in jail after he was convicted of tax evasion. He ran a business called Freedom Books, selling information that taught thousands of Americans how to cheat the system. Euro Pacific Bank released its official response to the news on Monday. The bank claims that it has not been contacted by any foreign government or taxing authorities. Editor’s Note (Oct. 19, 2020, 18:31 EDT): This article has been updated with the official response from Euro Pacific Bank. What do you think about Peter Schiff’s case? Let us know in the comments section below. The post Peter Schiff’s Euro Pacific Bank Under Investigation by Tax Authorities in 5 Countries appeared first on Bitcoin News. View the full article

Cloudbet, the pioneering crypto casino and sportsbook, has added Pax Gold to its platform, making history by allowing players to bet online with gold for the first time ever. The integration of gold betting on a crypto-gaming platform marks a unique milestone in the evolution of tokenisation, whereby a physical asset is made divisible, tradable and easier to exchange through smart contracts and blockchain technology. Each unit of PAXG is a digital asset backed by one fine troy ounce of a gold bar held in custody by the Paxos Trust Company. “Tokenisation allows individuals to express their spending habits through the assets they choose to hold, rather than having to use currencies to which they hold no philosophical or economic attachments,” a Cloudbet spokesperson said. “In this case, we’re empowering players that want to own gold with the means to place bets with a gold casino or a gold sportsbook.” New players who deposit PAXG with the operator are eligible for a welcome bonus worth up to 5 units of the gold coin (almost $10,000 at current prices), as well as 100 free spins over two weeks on a gold-themed slot in the Cloudbet casino. PAXG is Cloudbet’s third major stablecoin betting integration after launching USD Tether and USD Coin, the biggest coins in the stablecoin universe, earlier this year. For crypto gaming, stablecoins have been put forward as a solution for players seeking to protect the value of their cryptocurrency winnings from the extreme price fluctuations experienced by holders of non-stablecoins. PAXG’s value is tied to the price of gold, while USDT and USDC are fixed on a 1-to-1 basis with the US dollar, meaning the fiat values of winnings in these currencies don’t swing with cryptocurrency market prices. For this reason, stablecoins have been championed as the key to convincing traditional fiat currency audiences to experience the benefits of betting with crypto: Fast transactions, low fees and industry-leading bonuses. The new coin amplifies what’s on offer at Cloudbet for players seeking the best odds and highest limits for crypto betting from the comfort of their homes or on the go. Founded in 2013, Cloudbet is one of the world’s longest established bitcoin betting operators, with a history of innovation in the crypto-gaming space. The operator relaunched its site in April to attract a more diverse audience and has introduced a swathe of bold new features including esports, politics betting, easy credit-card coin purchases and the three stablecoins. The site also accepts ethereum and bitcoin cash. The operator grabbed the attention of industry observers in June with an ambitious English Premier League campaign, under which its sportsbook charged no margin on pre-match bets for all games left in the season. That allowed customers to access the fairest prices — and therefore the highest returns — in the market. The campaign was an extension of Cloudbet’s long-standing “best odds” campaigns on sports including soccer, basketball and tennis. The Cloudbet Story Cloudbet is a proud pioneer of crypto betting. Born in 2013 with a trailblazing spirit, Cloudbet embraced blockchain technology to give players privacy and financial freedom like never before. Since then, we have taken over 10 million bets, earning a reputation as the most trusted and secure name in the crypto-gaming space. We wrote our own rules and audaciously created an industry we are highly respected in. But that’s just the beginning. As always, it’s what comes next that really excites us. We keep innovating, delivering world firsts time and time again. Opportunities are boundless, and with the same passion and ambition that has taken us to the top, Cloudbet will keep enhancing the entertainment experience for players around the world. We’re here to raise the game. For more information contact: camilla@redknotcomms.com Follow us on Twitter for latest news and promotions: @Cloudbet 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 Cloudbet Unveils Betting With Gold in Gaming World First appeared first on Bitcoin News. View the full article

It has become impossible to imagine the cryptocurrency market without DeFi. The exponential growth this field is experiencing has also sparked interest among those concerned about the state of privacy. NIX Platform recently announced a unique advancement within the privacy field by developing the NIX Bridge solution for tokenized chains and DeFi applications in cooperation with Blockchain Foundry. The NIX Bridge will set the foundation for true zero knowledge proof interoperability within and across entire blockchains and assets, and will greatly enhance the presence and exposure of NIX Platform to new unveiling markets. The next step in the evolution of the NIX ecosystem is the launch of NIX Bridge Token (NBT), facilitating the development of solutions that will connect their privacy toolkit to the fast-growing world of decentralized finance. NBT is the incentivized backbone of the NIX Bridge DAO (Decentralized Autonomous Organization), providing the funding required for the development and marketing of a range of mainstream multi-chain privacy dApps. Features of NBT ► Funds DApp development on the NIX Bridge infrastructure ► Incentives ensure governance proposal engagement ► Liquidity providers receive treasury incentives ► NIX privacy fees are shared with liquidity providers ► Deflationary economics supporting both farming and governance Token Metrics 30% – Presale Allocation 30% – Liquidity Incentives 25% – Development 10% – Team 5% – Initial Liquidity (forever locked) Presale Info NIX Platform is making the NIX Bridge Token (NBT) accessible by holding an exclusive presale through bounce.finance from OCT 15th 6PM UTC – OCT 22nd 6PM UTC. After presale is completed, NBT/ETH pair will be listed on Uniswap, initial liquidity locked forever and trading enabled to guarantee the fairest possible launch. 1 ETH = 7.2 NBT Soft Cap = 1,500 ETH Hard Cap = 2,500 ETH Presale Allocation = 18,000 NBT Max Supply = 60,000 NBT Unsold Tokens = Proportional Burn Individual Cap = No Max Presale Venue = bounce.finance For more information, please visit https://bridge.nixplatform.io. Presale is LIVE – and there is a bonus of 5% in NBT for the first 100 participants. Community Links: Website: https://bridge.nixplatform.io Discord: https://discordapp.com/invite/HGuvDTW Telegram: https://t.me/nixplatform Twitter: https://twitter.com/nixplatform Medium: https://medium.com/@nixplatform 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 NIX Bridge Token, the Gateway to Private DeFi – Presale Now Live appeared first on Bitcoin News. View the full article

The recent Filecoin (FIL) token offering is creating controversy as some crypto community members are alleging that an unknown account has received 1.5 million tokens when only 500,000 were due for unlocking. According to reports, 800,000 tokens out of the 1.5 million of such tokens have been transferred to Huobi and other exchanges. Filecoin Denial According to a Chinese language website, 8btc.com, an unidentified Filecoin representative insisted the decision was made to help stabilize the price in the period after listing. The representative reportedly said: It is to establish an independent market maker to (help) maintain a stable price in the early stage of the project, because the price may be the most unstable at this time. At the same time, these coins are not a sell-off of FIL by the Filecoin. As part of the plan, FIL tokens were also sent to other exchanges besides Huobi. Meanwhile, the Filecoin team also explained in a blog that “the network has now entered a quiet post-launch monitoring period to ensure the network is operating smoothly.” The blog adds that the “network is stable and community members are reporting successful operations.” Token Price Tanks Despite this plan, the Filecoin token saw its price tank a few hours after listing. It seems the envisaged stabilizing strategy failed to stop the token price from dropping. As Binance trading data shows, the token opened at $200 but this had dropped to $42 at the time of writing. It is this sharp drop from the opening price that has prompted complaints and allegations of impropriety. One notable critic of the FIL offering is controversial Justin Sun who is insinuating that one Juan Benet and others at Filecoin had exit scammed. Tron tweets: “Exit scam here? 1.5 million $FIL for 200 USD each worth 300 million USD at the high. Now (the) price is below 60 USD. 70% down. No lock-up. No announcement to the community. How much do you sell? Is this ok?” Sun, who has faced almost similar allegations, goes on to encourage investors, especially those from the United States “to make sure Filecoin and Juan Benet are held responsible for this (dumping) under the protection of the US Securities and Exchange Commission.” Some Twitter users appeared to agree with Sun while some were quick to remind him of his own past misdeeds. Still, in a later tweet, an undeterred Sun doubles down on his claims that FIL devs had disregarded the rules by dumping 1.5 million tokens. Counterfeit FIL Tokens Meanwhile, in another twist to the controversy, reports also emerged on October 16 that scammers may have forged FIL tokens. According to the Beijing-based Chainsmap monitoring system, these tokens were created a day before the offering while their transfer to addresses had been carried out by way of airdrops. In addition, a transaction pair pool has been established in Uniswap with this token. Launched as a decentralized storage network, the Filecoin team says the project was started to help “store humanity’s most important information.” The project raised $205 million in an initial coin offering in 2017, and while the launch date was initially planned for mid-2019. However, the mainnet launch date was pushed back until block 148,888, which is expected in mid-October 2020. What are your views about the Filecoin dumping allegations? Tell us what you think in the comments section below. The post Filecoin Offering: Community Alleges Token Dumping, Tron’s Justin Sun Wants the US SEC to Investigate appeared first on Bitcoin News. View the full article