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Another hip hop artist has joined the cryptocurrency community, as the Canadian record producer, DJ, and songwriter ‘Murda Beatz’ (Shane Lee Lindstrom) said he bought some bitcoin on Tuesday. The music producer joins a slew of other recording artists that have joined the crypto ecosystem like 50 Cent, Talib Kweli, Snoop Dogg, and Nas. On October 6, 2020, the Canadian record producer Murda Beatz revealed to his 283,000 Twitter followers that he just purchased some bitcoin (BTC). Murda Beatz is Shane Lee Lindstrom’s stage name and he’s been a well-known music producer for a number of years. Beatz has produced hit singles for the American rappers Gucci Mane and Travis Scott, and the Canadian rapper Drake as well. The 24-year old Fort Erie producer is estimated to have a net worth of around $2.6 million today. On Tuesday, Murda Beatz thanked fellow hip-hop artist Jermane Prime and Morgan Creek Digital cofounder Anthony ‘Pomp’ Pompliano for introducing bitcoin to him. Murda Beatz tweeted: I Bought Bitcoin Today… Salute 2 [Jermane Prime and] Anthony Pompliano]. Murda Beatz and Jermane Prime are just a couple of the well known hip hop stars that have entered the cryptocurrency economy. For instance, back in November of 2015, the now-defunct Coinbase application Zapchain sold Talib Kweli’s album for bitcoin. Nasir bin Olu Dara Jones, better known by his stage name Nas, also got into bitcoin years ago. Nas gave away bitcoin to a bunch of fans six years ago and told Coindesk in 2014 that he was an investor in Coinbase. Additionally, Dr. Dre’s protege Snoop Dogg sold his 2013 album for 0.3 BTC and tweeted about joining the future. “The future is here and Snoop is your captain, taking you to the moon (that’s a bitcoin thing) — My next record available in bitcoin and delivered in a drone,” Snoop said. After Murda Beatz told his followers that he purchased bitcoin a number of people commented and welcomed the music producer. “Wise decision. Bitcoin is the best form of money humankind has ever invented. Keep stacking,” an individual replied to Murda Beatz. Meanwhile, other people sent the hip hop star satoshis via Twitter bots on Twitter. Another person told Murda Beatz that hopefully, he’s not storing the bitcoins on a centralized trading platform. “Get that bitcoin off exchanges make sure it’s in a secure place like a Ledger [wallet],” he tweeted. What do you think about Murda Beatz telling his 283,000 followers he just bought bitcoin? Let us know what you think about this story in the comments below. The post Hit Record Producer Murda Beatz Tells Fans He Purchased Bitcoin appeared first on Bitcoin News. View the full article

On October 6, 2020, the RIF (RSK Infrastructure Framework) development team announced that the Makerdao project’s DAI stablecoin is now available via the smart contract protocol RSK. According to the software engineers, RIF developers leveraged the RSK-Ethereum token bridge and individuals can now utilize the Ethereum-based stablecoin across a myriad of decentralized applications (dapps). The Bitcoin (BTC)-backed smart contract protocol RSK has been steadily moving toward the decentralized finance (defi) space during the last seven months. News.Bitcoin.com reported on RSK’s defi efforts and a number of RSK-based defi projects already in the wild. On Tuesday, software engineers announced that the smart contract project now supports Makerdao’s DAI stablecoin. RIF developers believe the newly added support will bolster defi services on the BTC chain. In order to execute the DAI stablecoin support, RIF engineers utilized the RSK-Ethereum token bridge. Now that DAI is integrated with RSK, the stablecoin can be leveraged for BTC-backed defi services like borrowing, lending, liquidity pools, and staking. Rune Christensen the cofounder of Makerdao and the Maker Foundation explained that the new DAI integration adds more accessibility to defi. “RIF integrating DAI creates a new world of opportunity for the bitcoin community to participate in defi,” Christensen said during the announcement. According to the RIF development team, a slew of dapps are already leveraging the stablecoin via BTC-backed and ETH-backed defi services. This includes projects like Rskswap, Aave, Sovryn, Avaldao, and Chainlink. The Rskswap creators have invoked liquidity pools for RIF-DAI and RBTC-DAI and claim people can transact with the stablecoin for 1000x less than using the Ethereum chain. Rskswap is a fork of the popular Ethereum-based decentralized exchange (dex) Uniswap. Iovlabs, the parent company of Bitcoin smart contract platform RSK and its Infrastructure Framework (RIF), thinks the DAI integration will bolster defi growth on the BTC chain. Iovlabs cofounder and CEO, Diego Gutierrez Zaldivar, stressed that “DAI integration is another key step towards Bitcoin defi adoption.” “We are confident the growth of the Bitcoin ecosystem and its defi opportunities has only just begun, with much more to come,” Zaldivar added. According to the RIF team, the Bitcoin-Ethereum bridge has been reviewed by the Maker Foundation Integrations Team. “The interoperability bridge locks the original token such as DAI on the Ethereum blockchain while minting an ERC777 ‘side token’ that can move freely on the RSK network,” the RIF software engineers conclude. “This maintains the existing supply of tokens while allowing them to be distributed between chains.” What do you think about RSK integrating the stablecoin DAI? Let us know what you think in the comments section below. The post Bitcoin Defi: Smart Contract Platform RSK Integrates ETH-Based Stablecoin DAI appeared first on Bitcoin News. View the full article

The U.S. Securities and Exchange Commissioner, Hester Peirce says while defi tokens carry some equity-like benefits, she believes that giving something away is distinct from selling something. As a result of this lack of clarity, Peirce says questions about the regulatory structure and how these tokens could affect corporate governance will continue to linger. Speaking at the LA Blockchain Summit, the Commissioner’s remarks, which Peirce says represent her personal views, were made in response to the question of treating governance tokens that are used by many decentralized finance (defi) platforms as securities. Instead, Peirce suggests that “people should come to talk to the SEC about how they intend to distribute tokens” although she cautions that “there are other people on the commission who might look at the same facts and circumstances differently than I do.” Indeed, over the course of the year, U.S. regulators, including the SEC have pursued individuals and entities that were involved in raising funds via ICOs within the United States jurisdiction. Citing Section 5(a) and 5(c) of the U.S. Securities Act, the regulators have charged many such individuals and entities, including gaming platform Unikrn, for alleged securities regulations violations that related ICOs of 2017. In Unikrn’s case, however, Peirce publicly dissented to the $6.1 million fine, saying this sends the wrong message to innovators. Instead of imposing stiff fines, the “Crypto Mom”, as Peirce is affectionately known in crypto circles, prefers what she terms the “safe harbour” approach. Under this plan, cryptocurrency companies will be given three years to devolve power to their communities before the SEC takes action for the alleged violations of the securities laws. Still, Peirce’s favourable stance on cryptos has not stopped the SEC from reportedly hinting that airdrops— which very are common in the defi space— could be seen as security offerings. That hint, together with growing concerns about the number of scams as well as a lack of regulation in the space, could see regulators pouncing on defi. However, the recent Finder’s Cryptocurrency Predictions Report finds that the majority of the panelled experts believe the defi industry will self-correct in the next twelve months. For instance, in remarks obtained during the survey, one panellist, Jason Lau COO at Okcoin, told interviewers that “the longer-term outlook for defi is positive but says there will be many bumps in the road.” Lau’s sentiments are also echoed by Gavin Smith, the managing partner at Panxora defi Hedge Fund, who says “the protocols are still in their infancy and have huge potential moving forward.” Meanwhile, the report found that 64% of the panellists actually expect Defi to grow “in both value locked and user count over the next 12 months.” Still, about 13% of the panellists disagree, and instead, they believe Defi could be headed for troubled times. One such panellist sharing this particularly pessimistic outlook is Coinmama CEO Sagi Bakshi who says he “thinks defi is growing too fast in an irresponsible and unregulated manner.” The survey report quotes Bakshi saying: It will implode with a huge loss of users’ funds, something like Mt. Gox. Although the majority of the panellists are optimistic about the future of Defi, they “also all concede there are barriers to growth.” The report states that “some 73% say scams, excessive hype and market manipulation will challenge defi growth.” Half say general cryptocurrency frictions — such as private key management and price volatility — will make it harder for defi to grow, while 43% say a lack of public awareness is a major obstacle. Just over a quarter of panellists (27%) say defi has a lack of genuine value and real-world applications, which will make it harder for further adoption. Will the Crypto Mom’s safe harbour proposal win more SEC support? Tell us what you think in the comments section below. The post SEC Commissioner Peirce Weighs in Defi Token Regulation Debate: Panel Predicts Defi Will Self Correct in Twelve Months appeared first on Bitcoin News. View the full article

On Wednesday morning (ET), around 2,034 BTC ($21.6 million) from the 2016 Bitfinex hack moved into a few unknown wallets. The action was caught by the Btcparser program as five transactions with around 400 BTC each moved for the first time in four years. On August 2, 2016, the popular digital currency exchange Bitfinex was hacked for 119,756 BTC which is around $1.2 billion in bitcoin using today’s exchange rates. The hacker was able to swipe roughly 18% of what was stolen from Mt Gox a few years prior. Most of the stolen bitcoins sat idle for a little less than four years, but in 2020 the hacker has been moving lots of coins in batches. The last time news.Bitcoin.com reported on the Bitfinex hack coins moving was at the end of July when the individual moved around 2,500 stolen bitcoins ($28 million) from the 2016 Bitfinex breach. At the time of the July 2,500-coin move, BTC was swapping for $10,350 per coin. On October 7, 2020, another 2,034 coins moved from five different wallet locations. The coins moved on Wednesday are worth roughly $21.6 million and the five transactions were caught by the blockchain parser Btcparcer.com. The first move saw 389.94 BTC transferred and then another 400 BTC was transferred 22 minutes later. A minute after that, the Bitfinex hacker sent 399.31 BTC to an unknown wallet. The last two transactions stemming from the Bitfinex hacker took place in a ten-minute time span following the third transfer. When the funds were originally stolen, the stash was worth between $66 to $72 million using 2016 exchange rates. Unlike Mt Gox, Bitfinex survived the loss and it paid customers back by creating one of the first exchange-backed tokens. The recent $21.6 million worth of transfers follow the exchange offering a bounty for those who help catch the Bitfinex hackers. During the first week of August 2020, Bitfinex offered rewards up to $400 million for information concerning the malicious actors who attacked the exchange. The news of the Bitfinex hack bitcoins on the move, also follows the recent and massive outflow of BTC from Bitmex that was transferred to exchanges like Binance, Gemini, and Kraken. The onchain data and analysis web portal Cryptoquant has also shown “unusual miner outflows” on Wednesday afternoon as well. Cryptoquant’s alerts channel noted, “aggregated outflows from multiple miners” including a small mining operation and the mining pool Btc.top. The 2,034 BTC transferred stemming from the 2016 Bitfinex hack just adds more leeriness to the unusual onchain activity. What do you think about the $21 million worth of bitcoins from the 2016 Bitfinex hack moving on Wednesday? Let us know what you think in the comments section below. The post Hacker from the 2016 Bitfinex Breach Transfers $21M Worth of Bitcoin to Unknown Wallets appeared first on Bitcoin News. View the full article

A new report by Bitstamp and Bytetree says bitcoin responds better to the rising money supply, rising real interest rates and a strong economy. This is in contrast to gold which appears to perform better when real interest rates are falling while inflation is rising. To support these findings, the report points to the collapse of the gold price in Q2 of 2013, after the US Federal Reserve signalled it would raise rates in the future. During that period bitcoin value surged. In fact, the report asserts “that 2013 was bitcoin’s best-ever year (5400%) and gold’s worst year (-28%) since 1981.” Explaining bitcoin’s relationship with other assets, one of the report’s co-authors, Charlie Morris, Co-Founder and Chief Investment Officer at Bytetree, says because it (bitcoin) is “responsive to monetary conditions, it is naturally correlated with risk-on assets, including equities and credit.” Morris references the year 2013, which he says was a specular year for social media stocks (62%) “which supports my view that bitcoin is a growth asset.” Gold, on the other hand, “thrives on falling real interest rates, rather than central bank stimulus, because it has a strong link to inflation.” Morris adds: “Hypothetically, when interest rates are falling, and inflation is rising, that is the perfect storm for gold. Conversely, tight money occurs when rates rise faster than inflation; a condition that is devastating for gold.” The report concludes that “notwithstanding the shared love of stimulus and an inverse reaction to the dollar, gold and Bitcoin are more opposite than alike.” Still, the report talks of a complementary yet opposing relationship between gold and bitcoin. It notes: If you had invested in gold, you would have made 52%, and 64% from investing in bitcoin. However, if you had invested in both of them on a 50/50 basis, and rebalanced each month, you’d now have 93% (to end of August 2020 ByteTree data). Elsewhere, the report adopts the view that Bitcoin is an inherently “internet economy”, where its success is directly linked to the level of activity and the size of the user base on the network. It explores the significance of network effects on the largest cryptocurrency. It also delves into the underlying technological framework of Bitcoin and proposes a number of possible ways for the asset to evolve further from a utility standpoint. What are your thoughts on the report’s description of the relationship between bitcoin and gold? Share your views in the comments section below. The post Report: Bitcoin Surges With Rising Real Interest Rates and Economic Stimulus While Gold Performs Better With Rising Inflation appeared first on Bitcoin News. View the full article

October 8th 2020, Limassol, Cyprus – 1xBit Casino Sportsbook has announced its support for one of the markets hottest cryptocurrencies, EOS. The PoS (delegated-proof-of-stake) token is used on the EOS platform for developers to build Dapps, but also offers the everyday user a rapid, free transfer of value. With these efficient attributes at the core of the EOS token, 1xBit instantly saw a great use-case for its service, and great benefits for its loyal community of players. EOS Benefits Unlike other popular cryptocurrencies like BTC and ETH that come with costly transaction fees, EOS transactions do not require the sender to spend any gas. Instead, EOS users all share a communal network bandwidth connection, and use a small amount of RAM via their computers to run the network. In addition to transaction savings, EOS users will not have to wait very long for their deposits or withdrawals to process, as the EOS blockchain is capable of processing up to 4000 transactions per second. For some context, EOS competitor and second biggest cryptocurrency (by total market capitalization) ETH currently averages just 15 transactions per second. Players previously hamstrung by costly BTC and ETH transaction fees can not deposit and withdraw large sums without the worry of losing a chunk of their hard-earned winnings. By listing EOS on its Sportsbook and Casino platform, 1xBit not only benefits its player specifically, but also continues its reputation as a pioneer for the mainstream adoption of cryptocurrency, and blockchain. 1xBit Sportsbook and Casino Founded by professional sports and casino gamblers 1xBit is a next generation cryptocurrency betting platform that combines sports betting with an online casino, creating a one-stop-shop gambling destination. The website caters for a broad community of different players, from recreational casino gamblers to professional sports gamblers. Casino and Sportsbook Features 1xBit has a huge range of great features that have helped the site continue to grow in size and popularity over the last 5 years. Most recently 1xBit added a feature called ‘Live Betting’ that allows players to watch a sports game or play with a real human casino dealer in live, whilst placing bets in real time. 1xBit has a constantly-running 100% sign-up bonus with a massive 7BTC limit running now. In addition, the site has weekly prizes, no ID sign-up, provably fair games, free and instant deposits and withdrawals, bet insurance,, a bonus points system for placed bets, rapid withdrawals, Android & iOS designed games, and no less than 25 supported currencies. 1xBit: It’s in the Game 1xBit has a broad range of games that cover everything from classic casino titles, sports betting, national sports, slots, e-sports, Live-betting and lotteries. Best known for its huge range of slots games, 1xBit boasts classics like Great Panda and Rise of Egypt backed, which are backed up by new sensations like Battle Maidens, Knights of Magic and Dragon Tiger. 1xBit also offers both classic and modern variations of traditional casino games such as Roulette, Poker, Baccarat and Blackjack. 1xBit has developed an extensive list of sports betting options to keep up with a recent increase in demand. Sports titles include Football, Australian Rules, American Football, Greyhound Racing, Chess, Basketball, Golf, Baseball,, Snooker, Horse Racing, Special Bets,Greyhounds, and much more. 1xBit also features popular video games including League of Legends, Fortnite, FIFA, StarCraft II, Warcraft, Valorant, CS: GO and Dota2. 1xBit is known as an advocate of crypto adoption, and supports an impressive 25 different cryptocurrencies including EOS, BTC, ETH, LTC, DASH, SIA, ZCASH, TRON, USDT, XRP, and many more. 1xBit offers a flexible casino and sportsbook experience, with a huge selection of games, Live Betting, a 7BTC sign-up bonus and continued support for the latest and most efficient cryptocurrencies around. Sign up for your 100% bonus today and take advantage of the new free EOS transactions. For more information about 1xBit, please visit – https://1xbit.com/ Check out the official 1xBit blog for the latest articles – https://1xbit.com/blog/ Media Contact Details Contact name: Anastasia Semenova Email: marketing@1x-bit.com 1xBit is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today. The post Crypto Adoption Advocate 1xBit Adds EOS to Its Sportsbook and Casino appeared first on Bitcoin News. View the full article

The Financial Conduct Authority (FCA) ban on crypto derivatives sales to retail investors has set tongues wagging. It is no mystery. After a consultation process that closed Oct. 3, 2019, with 97% of participants opposed to the prohibition, the U.K. financial regulator still proceeded to issue the ban, completely disregarding the overwhelming public input. In its defence, the FCA claims to be protecting consumers and “enhancing the integrity” of the British financial system. But many within the U.K. crypto industry and elsewhere are unimpressed, perhaps with good reason. On Tuesday, the FCA announced a ban on the sale of crypto derivatives to retail clients beginning Jan.6, 2021. First proposed in July 2019, the ban on derivatives based on virtual currencies like bitcoin (BTC) generated a total 527 responses when the regulator started to ask for views on the matter later that year. According to a 55-page report by the FCA, responses were drawn from companies that sell derivatives, crypto exchanges, law firms, trade bodies, individuals and others. The report says 97% of the respondents opposed the proposal. They questioned the regulator’s assertions alleging crypto assets lacked intrinsic value as well as the FCA’s idea supposing that retail investors are naive, incapable of correctly valuing digital assets. Respondents argued a ban would be unhelpful and “disproportionate”, suggesting, instead, the FCA achieve its goals by other means. Derivatives proponents pulled out a number of references to support their position. For example, they argued that digital assets are essentially valuable because they have been accepted as a means of payment for goods and services, including by top companies Starbucks and Microsoft, which accept bitcoin through a service offered by Bakkt. But the FCA would have none of that. It thundered: We concluded that crypto assets are opaque, complex and unreliable as reference assets for investments for retail consumers. Now, the British crypto community has reacted to the FCA ban rather brutally. Below, news.Bitcoin.com publishes some of the comments coming through from an action now known to have been drastic and largely unexpected. A Coinshares executive commented: “We see the FCA ban as further evidence that the UK is turning its back on innovation in digital assets and on regulatory coordination with other jurisdictions. It remains the only Western jurisdiction to ban digital assets based on the false belief that they have ‘no intrinsic value.'” Don Guo, chief executive officer of brokerage firm Broctagon Fintech, retorted: “We believe that the FCA’s so-called ‘consumer protection’ measures should be focused on weeding out existing scam companies and prioritizing consumer education, rather than crippling investment opportunities and withdrawing from an area of growing importance in the financial markets.” Adam Ettinger, partner at fintech firm Fisher Broyles, said: “This (ban) will push trading activity on cryptocurrency derivatives out of the UK to exchanges that are not regulated by the FCA, the U.S. CFTC, or similar regulatory agencies in jurisdictions that are known for their regulated capital markets.” Other comments were not as hard hitting. “What this does highlight is people need to be aware of the risks associated with investing, do their homework on what they’re investing in and be confident they are investing on a secure and regulated platform. These rules apply across all asset classes from crypto to stocks,” noted Etoro head of compliance and operations, Edward Drake. What do you think about the FCA ignoring public views on the crypto derivatives ban? Let us know in the comments section below. The post 97% of People Consulted by UK Financial Regulator Opposed Crypto Derivatives Ban appeared first on Bitcoin News. View the full article

Yearn Finance’s native token YFI has been seeing significant capitulation as the price has dropped from an all-time high (ATH) of $43k in mid-September to today’s $13,875 USD value. Despite the -67.7% loss since the token’s ATH, the Yearn Finance project still has around $624 million total value locked into the platform. Yearn Finance and the native token YFI has been a hot topic during the latter half of 2020. This is because the YFI token went from an all-time low of $739 on July 21, 2020, to reaching an ATH of $43k on September 12. In between that time, YFI saw a whopping 5,718% gain for anyone who held YFI at those times. Additionally, on August 29, the Yearn Finance project had around $967 million locked into the protocol according to Defipulse.com stats. However, since these recent ATHs, both the project’s TVL (total value locked) and the native token’s value has plummeted. The project’s TVL has slid to $624 million in assets locked on Wednesday, October 7, 2020. That’s a large decent of around -35% since the August 29 TVL-ATH locked into the Yearn Finance project. The coin itself, YFI has lost a critical -67.7% since the September 12 ATH and has been sliding relentlessly since that day. Some people blame the drop on the lack of trust in Yearn Finance founder Andre Cronje. Not too long ago the decentralized finance (defi) crowd witnessed a mishap with Cronje’s secret Eminence (EMN) project. “YFI has been getting creamed,” tweeted the crypto proponent Alex Krüger in regard to the declining YFI value. “Recent underperformance relative to other cryptos has been notable. One could argue it is the chart. But it is not. One can find plenty of equally poor charts across crypto. This IMO is the marketplace punishing YFI by removing the Cronje premium,” Krüger added. Krüger also said: The main reason IMO was Yearn’s blatant negligence around the EMN launch, and how poorly the aftermath was handled. Said so when it happened, not in hindsight later. Many exited/reduced YFI positions because of it. The Eminence (EMN) project was considered “bizarre” as the unfinished project was hacked for $15 million before it even launched. Even after the incident, Cronje said that he was going to continue building Eminence. “I am still building [Eminence],” the Yearn Finance developer wrote on Twitter. “I love the metaverse and metaconomy. I am also going to continue deploying test contracts. I have over ~100 deployed contracts, of which probably >half have vulnerabilities.” Still, Cronje was criticized for putting unfinished work on the main network instead of using an Ethereum testnet. “Why put unfinished code on mainnet to be tested?” an individual asked Cronje after his statement. “The contract should have been on a testnet. Any noob programmer knows not to test on a live server. With great reputation comes great responsibility. You need to own this and return funds fully before the hack.” What do you think about the Yearn Finance and YFI decline, as well as the Eminence controversy? Let us know in the comments section below. The post Yearn Finance Token Value Slides 67%, While Locked Value Loses Over $300M appeared first on Bitcoin News. View the full article

China’s central bank digital currency has been used in 3.13 million transactions worth about 1.1 billion yuan ($162 million) so far, the People’s Bank of China’s deputy governor has reportedly revealed. In addition, more than 122,000 digital wallets have been created. ‘Positive Progress’ of Digital Yuan Pilot The People’s Bank of China (PBOC) has been actively testing its central bank digital currency (CBDC). At Sibos, the global financial services networking event organized by SWIFT, PBOC Deputy Governor Fan Yifei updated the progress of digital yuan testing on Monday, the South China Morning Post reported. Noting that the pilot program has made “positive progress,” the deputy governor said that 3.13 million transactions worth 1.1 billion yuan have been processed using the digital currency, the publication conveyed. Since late August, the digital currency has facilitated more than 6,700 use cases, ranging from bill payments and transport to government services, Fan detailed, elaborating that multiple payment methods have been used, including bar code, facial recognition and tap-and-go transactions. Fan also said that users have created more than 113,300 personal digital wallets and about 8,800 corporate digital wallets as part of the pilot program. In addition, the deputy governor explained that the Shenzhen government used the digital yuan to reward about 5,000 medical and healthcare workers dealing with Covid-19 cases. The Chinese government previously explained that users in the trials of the digital yuan, known as Digital Currency Electronic Payment (DC/EP), “can use the digital wallet to top up accounts, withdraw money, make payments, and transfer money after registering with their mobile phone number.” Four major state-run Chinese banks have started large-scale internal testing of the digital renminbi wallet: China Construction Bank, Bank of China, Industrial and Commercial Bank of China, and Agricultural Bank of China. China Construction Bank reportedly launched a digital renminbi wallet in its official app in August. The digital yuan’s trials are also being conducted in major cities, including Beijing, Hong Kong, and Macau. The PBOC-backed digital currency will additionally be tested at the 2022 Winter Olympics games in Beijing. What do you think about how fast China is testing its digital currency? Let us know in the comments section below. The post China’s Digital Currency Has Been Used in 3 Million Transactions Worth Over a Billion Yuan So Far appeared first on Bitcoin News. View the full article

Congress has been urged to pass a stand-alone stimulus bill to immediately provide Americans with second stimulus checks of $1,200 after talks of approving a larger stimulus package of $2.2 trillion have stalled. New Stimulus Bill for $1,200 Direct Payments to Americans U.S. President Donald Trump is calling on Congress to quickly pass individual coronavirus relief aid measures, including a stand-alone bill to provide $1,200 stimulus checks to Americans immediately. He tweeted on Tuesday: If I am sent a stand alone bill for stimulus checks ($1,200), they will go out to our great people immediately. I am ready to sign right now. He followed this tweet with another one on Wednesday that is directed at House Speaker Nancy Pelosi. It says: “Move fast, I am waiting to sign.” Trump’s action follows him abruptly calling off negotiations with Democrats on a larger stimulus package until after the election. The president announced Friday that he tested positive for coronavirus. According to reports, Treasury Secretary Steven Mnuchin subsequently told Pelosi during a phone call on Tuesday that negotiations were over. The president explained in a series of tweets on Tuesday: “Nancy Pelosi is asking for $2.4 trillion dollars to bailout poorly run, high crime, Democrat states, money that is in no way related to Covid-19. We made a very generous offer of $1.6 trillion dollars and, as usual, she is not negotiating in good faith. I am rejecting their request, and looking to the future of our country. I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill that focuses on hardworking Americans and small business.” “It’s hard to see any clear sane path on what he’s doing but the fact is, he saw the political downside of his statement of walking away from the negotiations,” Pelosi commented on Trump’s action in an interview with ABC’s The View on Wednesday. “He’s rebounding from a terrible mistake he made yesterday and the Republicans in Congress are going down the drain with him on that.” House Democrats introduced an updated version of the $3.4 trillion Heroes Act last week that is estimated to cost about $2.2 trillion. However, White House senior economic adviser Larry Kudlow believes the number to be an underestimate, claiming that the bill would likely cost $2.6 trillion. The House originally passed the Heroes Act in May but the bill was stalled in the Senate. Meanwhile, Republicans have continually criticized Pelosi’s stimulus bill. Congressman Steve Scalise commented on Wednesday, “Just look at Pelosi’s last offer to see how unserious she is.” Naming “Stimulus checks to illegal immigrants, voter ID ban, mass prison release, [and] failed blue state bailouts” as examples, he wrote: “Time for her to drop the absurd demands. Workers & families need real, targeted aid — not a leftist wish list.” Since the introduction of the bill last week, Pelosi has been in constant negotiation with Mnuchin, who has made a counteroffer of a $1.6 trillion stimulus package, which he described as similar to the $1.5 trillion proposal developed by the Problem Solvers Caucus, a 50-member bipartisan group. This proposal also provides for another round of $1,200 direct stimulus payments to Americans. Besides another round of stimulus checks, Trump also urged the House and the Senate to “immediately” approve $25 billion for airline payroll support and $135 billion for the Paycheck Protection Program for small businesses. “Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now,” he tweeted Tuesday. In addition, the president wrote: “I have asked Mitch McConnell not to delay, but to instead focus full time on approving my outstanding nominee to the United States Supreme Court, Amy Coney Barrett.” Do you think Americans will soon get second $1,200 stimulus checks? Let us know in the comments section below. The post Immediate $1,200 Stimulus Checks: Trump Calls on Congress to Pass Stand-Alone Stimulus Bill Fast appeared first on Bitcoin News. View the full article

LONDON, United Kingdom, — P2PLoan Finance – Has successfully launched its decentralized protocols (Lend, Borrow) which also includes its very own Dapp on the Ethereum Network. P2PLoan Finance has officially made its fully functional website public, making it easier to avail Loans, they had promised that they would offer Decentralized Lend and Borrow by the beginning of October and have kept their promise. Its decentralized protocol which consists of Lend and borrow will help many individuals avail loans from their platform without any KYC or Other obstacles. P2PLoan Finance offers LEND AND BORROW by which users will be able to avail loans, it is believed that P2PLoan Finance is the only DeFi in the market today to provide the best Interest rates making it highly profitable for the lender’s and would be considerably affordable by the borrowers. The team has also stated that there would be more flexible offers coming soon to the platform upon reaching the milestone. Decentralized Protocols Lenders Protocol – Lenders will have to Deposit stable coins into P2PLoan Finance, will have set borrower deposit ratios, and also have to set minimum percentage rate and set a lock time/period. P2P will carry out all the other work such as safely making it reach a borrower and returning the profit back to the lender. Borrower’s Protocol – Borrowers who would want to avail loans from P2PLoan Finance will have to deposit a sum amount or collateral amount of Funds for security and will be able to take loans. Once they pay back the loan the Security/Collateral amount of funds will be unlocked. Dapp – P2PLoan Finance has also launched their own Dapp running on the Ethereum Network, allowing users to use it from any of their favorite wallet (Trust wallet, MEW, Metamask etc.) to search and use P2PL’s financing features. Check the Dapp Here Official Links Website – https://p2pl.finance/ Telegram / Token Public Sale – https://t.me/P2PLoanfinance Dapp – https://app.p2pl.finance/ Etherscan Defi verified token address :- https://etherscan.io/token/0x078dbeab281befe80fff6ea151355ef5c9dfc1dc 70% Profit Distribution To Token Holders The fact that makes P2PLoan Finance unique is its Lending pool and the profit distribution. Talking about profit distribution, P2PL Token (P2PLoan Finance’s Native Token) plays a major role in it. The fees collected from the users using the platform will be divided into two categories in which 70% will go to the token holders and 30% goes to the Team members. Token Public Sale with 65% Discount – Only 15,000 Token for Sale After a successful Pre-sale, P2PLoan Finance is stunned by the support they received during the Pre-sale period and have decided to head strong towards its Public Sale, P2PLoan Finance launched its Public Sale right after the Pre-sale, where its offer 65% off on P2PL Token. You will be able to buy the token at 35$ per P2PL. Here’s a link to the Public Sale P2PLoan Finance has also made some big announcements such as getting their P2PL Token listed on exchanges like Uniswap, Whitebit and Probit before the end of october with an initial listing price of 100$ per P2PL Token. About P2PLoan Finance P2PLoan Finance, is a DE-FI (Decentralized Finance) Project that aims to run a blockchain based banking facility that will allow users to Lend and borrow Funds, it works on the simple principal of the banking system but in a safe, hassle free and decentralized way. P2PL Finance is the product of RK Group Int Ltd, which is a leading Blockchain based company having its HO in London, UK. It owns several Cryptocurrency projects which deal with “DE-FI, Global Payments, Blockchain powered Crypto-cards, Mobile wallets, News Networks and More.” “We have been working hard to develop a convenient financing platform that would help every common man avail Loans instantly without the necessity to KYC or Go through all the other obstacles that a Normal Financing Bank would put in front of a common man, With this launch we also pledge to take the decentralized financing protocol to the next level.” Said Mr. Rahul Keshri (CEO and Co-Founder of P2PL Finance & RK Group Int Ltd). ### Media Contact Info Salma Contact Email: Salma@p2pl.finance 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 P2PLoan Finance Is All Set To Offer Higher Returns With Its Newly Launched Decentralized Protocols appeared first on Bitcoin News. View the full article

Back in the summer of 2018, the Japanese messaging giant, Line Corp., launched a cryptocurrency exchange with over 30 digital assets. Now Line is introducing crypto lending services with five different crypto assets and a new lineup of decentralized applications (dapps). The Japanese messaging software company, Line Corp., is a firm that developed the freeware application called “Line” for instant communications on a myriad of electronic devices. According to statistics, Line has roughly 80 million registered users leveraging the messenger. The Line app launched in 2011 is similar to China’s Wechat and the South Korean competitor Kakao. Two years ago, Line Corp. revealed it was launching a crypto exchange with 30+ trading pairs and “low trading fees.” This past August, Line introduced the company’s Bitmax wallet, the Line blockchain, and distributed ledger development platform. Line’s crypto exchange operator dubbed “LVC” announced on October 6 that the firm will allow cryptocurrency lending with five different crypto assets. Crypto lending services and yield-bearing assets have been all the rage in 2020, and the industry continues to see exponential growth. Essentially the new lending service allows customers to lend BTC, BCH, LTC, XRP, and ETH to the firm’s Bitmax subsidiary. Line lenders will be able to obtain a yield off of the assets borrowed in the form of a rental fee, a regional report detailed on Wednesday. A loose translation of the announcement notes that the crypto lending service will begin on Thursday, October 7, 2020. The interest on the loans will be incurred ever day and Line Corp. disclosed the lending requirements to the Tokyo Stock Exchange on Wednesday afternoon. If the user wants to return the money within a single day it is possible, while the longest term seems to be set at seven days for now. “LVC will carry out a campaign from the 7th to the 30th of this month to raise the annual loan rate to 10%,” the local report noted. In addition to the crypto lending announcement, Line also revealed a number of distributed apps based on the Line blockchain on the same day. With lending and a myriad of decentralized applications (dapps), Line seems extremely focused on joining the decentralized finance (defi) revolution. The platforms announced represent an “inaugural list of third-party services that are/will be offered on Line blockchain.” Third-party services disclosed include a mobile RPG game developed by Biscuitlabs, which is the Japanese version of the tale “Knight Story.” Line also mentioned projects like Linksign a digital contract service, a blockchain social media service called Afan, a blockchain-based MMO strategy game dubbed “League of Kingdoms,” “Cryptodozer” a coin pusher game, Somesing a social karaoke app, and Theta.tv a video streaming platform. “Line will continue striving to provide blockchain services and technologies that can be integrated into users’ daily lives,” the company said on Wednesday. What do you think about Line’s latest crypto lending announcement and new defi apps? Let us know what you think about this subject in the comments section below. The post Japan’s Messaging Giant Line Introduces Crypto Lending Services appeared first on Bitcoin News. View the full article

According to the Federal Reserve Chairman, Jerome Powell, the road to economic recovery is far from over and the Covid-19 pandemic has fueled the tragedy. During his speech at the National Association for Business Economics annual meeting, Powell highlighted that the federal budget was essentially a disaster, but stressed that “now is not the time to give priority to those concerns.” The Fed’s Chairman, Jerome Powell, doesn’t seem enthusiastic about the American economy after the central bank funneled $9 trillion into the hands of private trading houses. Powell discussed his outlook at the annual National Association for Business Economics meeting and talked about Covid-19 quite a bit. According to Powell, a second wave of the coronavirus could “more significantly limit economic activity, not to mention the tragic effects on lives and well-being.” “Managing this risk as the expansion continues will require following medical experts’ guidance, including using masks and social-distancing measures,” Powell explained to the meeting attendees. The Fed Chairman thinks that more money will be needed to battle the hardships the country faces and he argued there’s really no time to waste. “The U.S. federal budget is on an unsustainable path, [and] has been for some time,” Powell said. “[But] this is not the time to give priority to those concerns,” the central bank’s Chairman added. For the most part, Powell said that the risks of not adding more stimulus injections into the economy would be far greater. Powell further stated: By contrast, the risks of overdoing it seem, for now, to be smaller. At the meeting, Powell also explained that the distribution of funds at times wasn’t making it into the hands of those who need it most. He insisted that “once you’re permanently laid off it’s just difficult to get back into the workforce.” Powell maintained that a deceleration of the economic recovery would be a grave mistake, as he highlighted “weakness feeds on weakness.” The Fed Chairman emphasized: The recovery will be stronger and move faster if monetary policy and fiscal policy continue to work side by side to provide support to the economy until it is clearly out of the woods. Meanwhile, the Fed’s dealings continued to be criticized and bemoaned for helping Wall Street rather than Main Street businesses. According to the investigative columnists from Wall Street on Parade (WSP), Pam Martens and Russ Martens, the Fed is sitting on a lot of CARES Act money. “The Fed and Treasury have sat on $340 billion of untapped money from the CARES Act,” the Martens detailed on the same day Jerome Powell gave his fiscal policy speech. The WSP findings highlight that the Fed and Treasury dispersed some funds, but “ the bulk of those programs are helping Wall Street, not Main Street,” the Martens say. During the late afternoon (ET) on Tuesday, just before American stock markets closed, the top three composite indexes took a hit. While digital currency markets and precious metals prices have been holding steady, the Dow Jones Industrial Average lost 375 points at the closing bell on Tuesday. What do you think about the Federal Reserve Chairman’s speech on Tuesday and the lack of concern about the federal budget? Let us know what you think about this subject in the comments section below. The post Fed Chairman Claims ‘Now Is Not the Time’ to Worry About the Federal Budget appeared first on Bitcoin News. View the full article

Cloudbet, the pioneering crypto sportsbook and casino, has added USD Coin to the portfolio of coins available to customers, marking the operator’s second major stablecoin integration after launching USD Tether in May. With the integration of USDC and USDT, Cloudbet now supports the biggest coins in the stablecoin universe, with a combined market value of US$18 billion. 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. As with USDT, because USDC’s value is fixed on a 1-to-1 basis with the US dollar, the fiat value of winnings of the coin does not fluctuate along with cryptocurrency market prices. For this reason, stablecoins have been offered up as the key to convincing a more fiat-friendly audience to experience the benefits of cryptocurrency gaming. “Since launch, a fundamental part of our philosophy has been about empowering players with technologies that solve their problems,” a Cloudbet spokesperson said. “Stablecoins are an extension of that.” The new coin amplifies what’s on offer at Cloudbet for players seeking the best odds for crypto betting from the comfort of their homes or on the go. Since it relaunched its website in April, the operator has unveiled a swathe of bold new features to attract a more diverse audience, including esports, politics betting, and easy credit-card coin purchases. Founded in 2013, Cloudbet is one of the world’s longest established bitcoin operators. 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. USDC was introduced by the Centre Consortium, an organization co-founded by Coinbase and Circle. Cloudbet supports USDC on the Ethereum blockchain. 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: media@cloudbet.com Follow us on Twitter for latest news and promotions: @Cloudbet Press Contact Email Address db@bgl.sc Supporting Link https://www.cloudbet.com/ 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 Launches Second Major Stablecoin With USDC appeared first on Bitcoin News. View the full article

At the LA Blockchain Summit, the blockchain and fintech venture studio Draper Goren Holm announced the launch of a $25 million blockchain fund called “Fund 1.” According to the announcement the money will be used for promising blockchain and fintech startups in Series A and seed investments. On October 6, 2020, the Los Angeles-based venture studio Draper Goren Holm revealed the launch of a new blockchain and fintech fund at the annual LA Blockchain Summit. The studio Draper Goren Holm is basically a partnership between Josef Holm, Alon Goren, and the well known venture capitalist Tim Draper. The company is focused on incubating startups that are working in fintech and creating blockchain solutions. For instance, news.Bitcoin.com reported on Draper Goren Holm’s WordPress plugin that gives anyone the ability to create a crypto exchange on a WP-based site. At the LA Blockchain Summit the three founders discussed the new blockchain and fintech venture called “Fund 1.” The initial investment strategy will be to invest in novel early-stage projects and Draper Goren Holm already has a portfolio of around 18 startups. Fund 1’s focus is international and transcends borders but for now, the venture fund will concentrate on Europe. The fund is to start investing in blockchain and fintech projects immediately and the firm is opening a new office in Vienna, Austria. “This first close was a sort of ‘friends and family’ round,” Alon Goren, Founding Partner of Draper Goren Holm said at the LA Blockchain Summit. “Alongside Tim Draper and other individual friends investing in us again, other blockchain funds like Blockchain Founders Fund and the Keiretsu Capital Blockchain Fund of Funds participated.” From left to right: The founding partners Alon Goren, Tim Draper, and Josef Holm. Draper Goren Holm’s 18 startups have already seen internal growth and ideas like the digital securities sector, security tokens, and decentralized finance (defi) have bolstered the development. “I’m thrilled to participate in Draper Goren Holm’s Fund 1 as the team continues to maintain their dominance in Los Angeles, and soon, internationally,” said Tim Draper. “This new fund will allow us to double and even triple-down on our favorite projects.” The venture studio’s $25 million blockchain investment fund follows Andreessen Horowitz recently funneling $500 million into the crypto industry with the “Crypto Fund II.” Similarly to Draper Goren Holm’s announcement, in the midst of a gloomy global economy, Andreessen Horowitz’s Crypto Fund II aims to cushion crypto networks and businesses. While discussing the international expansion, the founding partner Josef Holm, said Europe is becoming a fintech hub specifically with “blockchain innovation.” “It’s incredible to see how pro-crypto and blockchain European governments have become the last couple of years as their favourable regulations have attracted a flock of talented and diverse entrepreneurs building incredible projects across Vienna, Zug, and Berlin, to name a few,” Holm stressed. “Fund 1 will capture this ever-growing market and Draper Goren Holm will expand its value-add beyond our initial home borders of Los Angeles,” the executive added. What do you think about Draper Goren Holm’s blockchain and fintech fund called “Fund 1?” Let us know what you think about this subject in the comments section below. The post Tim Draper’s Venture Studio to Triple-Down on Blockchain Projects With a $25M Fund appeared first on Bitcoin News. View the full article

Bloomberg analyst Mike McGlone has predicted that the price of bitcoin will hit $100,000 by 2025. McGlone premised his argument on past bitcoin trends, including the period in which the price took four years to go from $1,000 to $10,000 in 2017. “So, doubling that time frame for maturation could get the price toward $100,000 in about five more years,” he said, in Bloomberg’s Crypto Outlook report for October. “Most demand and adoption measures indicate bitcoin is more likely to stay on its upward path.” McGlone observed how that a top metric for adoption, the 30-day average of BTC addresses, is equivalent to a price of about $15,000, suggesting that, at current prices of $10,700, the top cryptocurrency is greatly undervalued. He sees the digital asset breaking above $14,000 by end of 2020. The number of active bitcoin addresses has soared to 981,000, Glassnode data shows, up from 684,000 at the beginning of this year, when the asset’s price averaged around $7,700. When active addresses hit nearly 1.1 million on December 23, 2018, bitcoin traded for $14,800, on the average. McGlone, a senior commodity strategist at Bloomberg, also pointed to bitcoin’s increasing hashrate, growing institutional investor interest, the coin’s limited supply as well as failing global macroeconomics as potential key drivers for future price growth. He uses the example of the Grayscale Bitcoin Trust (GBTC) as a “direct indicator of investor demand”. Today, the trust holds the equivalent of about 450,000 BTC. A year ago, it held less than half that amount, indicating rising institutional investor interest. Inflows in GBTC, the largest exchange traded product, absorbed about 70% of new bitcoin supply in third quarter of this year, according to the report. The report also speculates that the market capitalization of tether (USDT) will surpass that of ethereum (ETH) by 2021, to become the second-largest cryptocurrency in the world. In recent months, tether’s market cap has exploded to $15.6 billion as more investors look to stablecoins to preserve the value of their coins. ETH market cap currently hovers around $39.6 billion. “Indicating demand for a digital version of gold (bitcoin) and a crypto-asset like the dollar, if current trends prevail, the market cap of tether may surpass ethereum next year,” it said. “Increasing adoption of stable coins is likely a precursor for central bank digital currencies and promises to be more enduring than alt-coin speculative excesses.” What do you think about bitcoin getting to $100,000? Let us know in the comments section below. The post Bitcoin To Hit $100,000 in Five Years as Demand and Adoption Increase – Report appeared first on Bitcoin News. View the full article

The time of ICO’s seems behind us and many blockchain projects have fallen off the grid but one particular project seems not only to have survived but even thrived during these times. Securypto focuses on safe and truly anonymous exchange of data. In a world where datahacks have become the norm rather than the exception, anonymity has become a necessity. Back then in the midst of its ICO, the SCU project was making headlines across major news media for its remarkable innovative approach to encrypted messaging. This made even security experts like John Mcaffee and Kim Dotcom support the project. Acknowledging the massive support from their community, Securypto lead developer Sam Nokati expressed his appreciation: “To all who believe in Securypto and continue to express your amazing support for the SCU token sale, as a show of our tremendous appreciation, we are going ahead of schedule with our token listing. Bilaxy is a world-class digital asset trading platform and we are proud to be listed on such a reputable exchange. For the DEX supporters, we have selected UniSwap, the leading decentralized permissionless exchange.” Bilaxy support has quite been unprecedented , “Bilaxy has always been the home of crypto hidden gems, and we are happy to support more promising blockchain projects with our various financial services like trading, staking and more. Anonymity is a scarce commodity in this day and age and we have seen Securypto’s potential to develop a model where you take back control of your data and send and receive truly anonymous encrypted data. The Securypto story – Rise of the underdog Birthed by lead cryptography developer and serial entrepreneur, Sam Nokati has no shortage of experience. With having invested in over 16 tech companies he is surrounded by a talented and experienced team who have worked for brands like Google, Tesla, Nike, Amazon and Paypal amongst others. Keenly aware of the ills and challenges of anonymity and security the Securypto project was aptly armed with a viable use case from its years in silicon valley. Amid the hype of countless ICOs of projects without a product or even a use case in 2018, Securypto went against the grain and kept the focus on delivering a working product and released his own Android Encryption App DigiSafeGuard. The past two years has seen the Securypto team laboring over its blockchain platform and conducting innumerable tests and even offering a 10BTC reward to anyone that could break their encryption (which to this date no one has succeeded in doing so). Consistent hard work has paid off and the securypto platform has been steadily rolling out update after update and with the listing on the exchange the next logical step is here for both the team and investors and the community. Having grown a strong following throughout its developing stages, last week, the Securypto project saw its IEO reach a level of fervour unheard of in today’s IEO narrative, as loyal supporters rallied behind the project’s token sale. Securypto’s IEO success serves as a testament to good old-fashioned persistence and hard work. As Henry Ford put it, “Quality means doing it right when no one is looking.” Keeping community at the forefront Starting today token holders will be able to start making deposits in preparation for trading. Available trading as SCU/ETH pairs are confirmed at Bilaxy exchange and will open for deposits after IEO. In the meantime, Securypto remains committed to making listing partnerships with credible exchanges vetted to be safe for users, keeping the community always at the forefront of any listing decisions. Securypto token holders will welcome the news that besides Bilaxy and UniSwap, Securypto has managed to secure an additional 4 exchanges, to be announced at a later date. Stay tuned! About SCU SCU, which stands for Securypto Token, is a utility token that enables users send and receive encrypted messages and data with it’s app DigiSafeGuard. The app itself already allows you to do that but the utility token enables a anonymity layer on top of it which makes it a perfect instrument for everyone that cares about their privacy to send and receive data. Early feedback from early adapters shows that mostly people who live in restrictive countries make use of this application like North Korea and places where censorship is very high and freedom of speech is a luxury where Securypto has given them a voice. Whistleblowers have also commended it’s ease of use and high level of encryption and how it makes it easy to use as Whatsapp but the moment you send the message it looks like your message goes into a wormhole and the receiver gets the message and no one can discover the path it has taken from sender to receiver making it impossible for anyone to track the message or decrypt it. It comes then as no surprise why both the community and investors have been excited about the development and launch of SCU on Bilaxy. Securypto IEO As Initial Coin Offering of Securypto Tokens has been started, this golden opportunity is getting massive attention from the cryptocommunity all over the world. Press Contact Email Address dev@securypto.io Supporting Link https://www.securypto.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 Rise of the Underdog, Securypto Takes off as Investors Scramble To Get on Board appeared first on Bitcoin News. View the full article

Three companies allegedly running a large-scale cryptocurrency Ponzi scheme are being investigated by Indian police. The scheme promises extraordinary returns to investors. The police have registered a case against the alleged CEO of the companies. Large-Scale Indian Crypto Ponzi Scheme Indian police are reportedly investigating three Bengaluru-based companies over a cryptocurrency investment scheme that has lured investors from all over India. The companies are Long Reach Global, Long Reach Technologies, and Morris Trading Solutions. They are allegedly connected to “a multi-crore money chain scam,” the New Indian Express publication reported Friday. According to the police: These companies collected at least Rs 15,000 each from over 11 lakh people from across the country to invest in a new cryptocurrency called Morris coin. The minimum investment amount required per person in order to participate in the scheme is Rs 15,000 ($205), police say. Scammers allegedly attracted investors with extraordinary promises, such as a return of Rs 270 per day for the next 300 days, the publication conveyed. In addition to offering 10 Morris coins after a 300-day lock-in period, the scheme offers investors a 10% to 40% commission for getting more people to invest in the coin. Financial experts say this is a Ponzi scheme, and the companies are leveraging investors’ interest in cryptocurrency to lure them to add to the chain. The police recently registered a case against Nishad K. of Pookkottumpadam, Kerala, after raiding his home. They believe him to be the CEO of the three companies. “We recently raided Nishad’s house and have seized documents related to his financial dealings. We are looking into the documents and we have taken statements from some of his ‘clients’ in the area. Nishad will soon be quizzed in the case,” Circle Inspector Vishnu P. of Pookkottumpadam was quoted by the news outlet as saying. “We have taken a suo motu case against Nishad under the Prize Chits and Money Circulation Schemes (Banning) Act 1978. We launched an investigation into the case based on a tip off received by District Police Chief Abdul Karim,” he elaborated. While Nishad claims that his business is legal, the police say that Morris coin’s website shows no information about the team members or developers of the cryptocurrency. However, the police revealed that so far none of Nishad’s clients have filed a complaint. “We have not received any complaint. We think he has gained their confidence by paying 0.5% to 3% interest on their investment every day for a certain period of time,” Vishnu confirmed. Nonetheless, he emphasized that “action will be taken against the company owners for running a money chain business.” What do you think about this crypto Ponzi scam? Let us know in the comments section below. The post Indian Police Investigate 3 Companies Running a Crypto Ponzi Scheme, CEO Charged appeared first on Bitcoin News. View the full article

John McAfee has been arrested and indicted for tax evasion, the U.S. Department of Justice announced. The cybersecurity entrepreneur has also been charged with fraudulently pumping cryptocurrencies by the U.S. Securities and Exchange Commission. McAfee Fraudulently Pumped Tokens The U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) independently announced their actions against two-time U.S. presidential candidate John McAfee on Monday. The SEC has charged the 74-year-old antivirus software tycoon and his bodyguard Jimmy Watson Jr. with fraudulently pumping initial coin offerings (ICOs). The agency explained that from at least November 2017 to February 2018, “McAfee leveraged his fame to make more than $23.1 million U.S. dollars (‘USD’) in undisclosed compensation by recommending at least seven ‘initial coin offerings’ or ICOs to his Twitter followers.” He had approximately 784,000 Twitter followers at the time; that number has significantly grown to about a million at press time. According to the SEC, the antivirus software pioneer did not disclose that he was being paid to promote the tokens, which constitutes “unlawful ‘touting’ and violates the federal securities laws.” Emphasizing that “The ICOs at issue involved the offer and sale of digital asset securities and McAfee’s recommendations were materially false and misleading for several reasons,” the SEC detailed: The ICOs McAfee touted raised at least approximately $41 million and McAfee made approximately $23.2 million in secret compensation for his touts. The SEC also noted that McAfee “lied to investors by falsely denying he was being paid by the issuers” when directly asked if he was being paid to promote the coins. His paid promotions were exposed by a blogger in February 2018, rendering his tweets useless for pumping more ICOs. However, he still held “a large number of virtually worthless securities from the ICOs he had previously touted,” the SEC continued, adding that he then paid a third party to pump these tokens and encouraged investors to buy them without disclosing that he was trying to dump his own stash. “McAfee engaged in a practice known as ‘scalping,'” which “generally allows promoters to sell their securities holdings quickly and profitably through market interest that they deceptively generate, and violates the federal securities laws,” the SEC described. Watson was McAfee’s bodyguard, who “substantially assisted McAfee’s touting and scalping schemes,” the SEC alleges, adding: McAfee was paid bitcoin (BTC) and ether (ETH) worth more than $11.6 million, plus an additional $11.5 million worth of promoted tokens, as undisclosed compensation for his promotions of seven ICOs. McAfee paid Watson at least $316,000 for his role. The SEC seeks to order the defendants “to disgorge all ill-gotten gains” and “pay civil monetary penalties.” The agency also seeks to permanently prohibit McAfee from serving as an officer or director of certain companies and the defendants from participating in the issuance, purchase, offer, or sale of any digital asset security. McAfee has been aware of the SEC watching him for quite some time. In December 2018, he tweeted: “Folks are warning me against opposing the SEC and point to Elon Musk’s submission to them as an example I should follow. I have had many dances with the SEC. I know who they are, and I am not Elon Musk – I’m John Fucking McAfee. Watch the difference.” McAfee Arrested and Indicted for Tax Evasion Meanwhile, the DOJ unsealed an indictment Monday charging McAfee “with tax evasion and willful failure to file tax returns.” According to the announcement, “The June 15, 2020 indictment was unsealed following McAfee’s arrest in Spain where he is pending extradition.” On Sept. 28, the two-time presidential candidate tweeted that he “Went to Spain this weekend to check the progress of the Mud Wrestling Arena I’m building.” The DOJ explained that McAfee failed to file tax returns from 2014 to 2018 despite receiving “millions in income from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary.” “McAfee allegedly evaded his tax liability by directing his income to be paid into bank accounts and cryptocurrency exchange accounts in the names of nominees,” the announcement notes. “The indictment further alleges McAfee attempted to evade the IRS by concealing assets, including real property, a vehicle, and a yacht, in the names of others.” Besides facing “a period of supervised release, restitution, and monetary penalties,” the DOJ explained: If convicted, McAfee faces a maximum sentence of five years in prison on each count of tax evasion and a maximum sentence of one year in prison on each count of willful failure to file a tax return. McAfee has made no secret that he is not paying taxes. “Tax evasion is [a] misrepresentation of income. I have never done that. I merely refuse to pay,” he tweeted in February. Moreover, news.Bitcoin.com reported in January 2019 that McAfee had fled the U.S. and was living in exile on a boat after he was charged with “using cryptocurrencies in criminal acts.” Do you think McAfee should get away with ICO pumping and tax evasion? Let us know in the comments section below. The post John McAfee Arrested, Indicted for $23 Million Illegal Crypto Pumping and Tax Evasion in US appeared first on Bitcoin News. View the full article

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The average cost of sending a transaction over the Ethereum blockchain has fallen by 82% from a September 2 peak of $11.61, down to $2.09 as of October 4. The decline may be the result of a slow down in the hype around decentralized finance (defi) protocols. According to data from Glassnode, ethereum (ETH) miners have also seen a corresponding sharp drop in total earnings from fees over the past three weeks. On Sept. 17, miners raked in 42,763 ETH, or $14.97 million, in fees, but that tanked to just 5,898 ETH, or $2.06 million, as of Sunday. As a percentage of miners’ total revenue, fees plunged to 29% from 69% during the same period. Fees have risen so high that on September 1, ETH miners made a record profit of over $500,000 in just one hour. In August alone, miners made $113 million in profit, up more than 3,660% from the $3 million earned in April. Compared with the average transaction cost of just $0.09 in April, current ethereum fees remain excessively high, even with the latest decline. Per the Glassnode data, the absolute number of transactions on the Ethereum blockchain fell nearly 30% to 935,000 on October 4, down from a 2020 high of 1.32 million three weeks earlier. Analysts blame the spike in ethereum transaction costs on the hype within the decentralized finance space, which has grown into a $9 billion industry in just three months. In July, over $2 billion of value was locked in the entire defi market, data from Defipulse shows. And as defi protocols such as uniswap (UNI), compound (COMP), yearn.finance (YFI), curve.finance (CRV) and balancer (BAL) competed for block space to get transactions processed through the Ethereum network, fees rocketed. According to Etherscan, protocols such as Uniswap is one of a few with the highest network utilization. Tether (USDT), sushiswap, and YFI are the others. Now, the hype appears to have cooled off somewhat, with major defi products falling by between 30% and 45% in the last week. ETH developers have also been testing technical solutions to reduce costs and improve efficiency, including a network upgrade dubbed Ethereum 2.0. But the project is still several months away from coming to fruition. What do you think about the falling ether transaction fees? Let us know in the comments section below. The post Ethereum Transaction Fees Fall 82%, as Defi Hype Eases appeared first on Bitcoin News. View the full article

Being the next step in the evolution of human civilization, blockchain technology still hasn’t been mass-adopted. The biggest obstacle here is a limited transaction processing capacity. Existing blockchains like Bitcoin and Ethereum are only able to do about 7-10 transactions per second. This technological limitation has been called the blockchain scalability trilemma. If it is solved, blockchain technology can facilitate the creation of a decentralized global currency that can be mass adopted and the implementation of decentralized governance systems, immutable data storage systems, which will improve transparency in governance and monetary policy. Researchers around the world have come up with different proposals for solving the blockchain scalability problem. Sharding is considered to be the most promising. Yet, there is no common vision on how to implement sharding to find the best acceptable compromise among the numerous parameters of the network. Projects such as Ethereum 2.0, Algorand, Cardano, and Zilliqa have developed their own blockchain designs based on sharding. However, all of these projects have a similar pattern in their designs. They all rely on a Proof-of-Stake (PoS) consensus algorithm and pseudo-random selection of validators for shard committees. Jax.Network believes its solution has solved the scalability trilemma and has the potential to become a consumer payment system, unlike other cryptocurrencies that experience delays and failures due to throughput restrictions. Last month, the Jax.Network team participated in the Blockchain.UA conference and shared their vision with the crypto community. Jax.Network is a blockchain platform that follows the JaxNet protocol which issues the world’s first scalable and decentralized stable “JAX” coin. Since 2017, its founder Vinod Manoharan has been interested in blockchain and wanted to bring this technology to mass adoption. In 2018, he decided to move to Ukraine to gather a team of technical and scientific experts to solve the blockchain scalability trilemma. Ukraine was the first choice as it has many prominent specialists. With that in mind, Vinod gathered a team, and together they came up with a solution that solves the scalability problem of blockchain networks. The academic paper of JaxNet protocol was published in May 2020. Based on this protocol, Jax.Network solves the blockchain scalability problem using Proof of Work consensus, a universal reward function, sharding, and merged mining. The sharding design used in Jax.Network has multiple advantages. It reduces the storage and network traffic requirements for nodes in the network. It also eliminates the bottleneck of block propagation delay and decreases the volatility of mining rewards. All together, these features have a positive effect on the network scalability and decentralization. In Jax.Network, miners can choose the subset of shards that they want to mine. They can manage their workload according to their computing capabilities. With the blockchain scalability trilemma being solved, Jax.Network aims to create the first truly scalable and stable coin. If this coin is mass adopted, the global financial ecosystem can be changed forever. With that in mind, Jax.Network caters to the payments market and wants to compete with giants like Visa and Mastercard. Right now Jax.Network is at its Proof of Concept stage moving forward according to the roadmap. Eventually, the project wants to transform the organizational systems in the world using blockchain technology. To achieve this, the team has plans to build the necessary infrastructure, including a mining pool, transfer hub, blockchain explorer and API, a crypto wallet & instant messenger. 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 A Solution To the Blockchain Scalability Problem – Meet Jax.Network appeared first on Bitcoin News. View the full article

The Bitcoin network has recently crossed over the 18.5 million mark, as far as the number of bitcoins currently minted into circulation. However, even though over 18 million coins have been minted to-date there’s a number of different elements that affect the distribution of all the coins in existence. Elements that affect bitcoin distribution include large holders, lost coins, so-called sleeping coins, and coins held in custody for various solutions. As of today, the outstanding circulating BTC supply is around 18,508,600 BTC, but during the last 12 months, many people have been discussing the actual distribution of the circulating supply. For example, in mid-September news.Bitcoin.com reported on an analyst who said only 14 million out of the 21 million supply cap will ever circulate. Last year, Coin Metrics also published an analysis, which discussed a variety of methods to assess Bitcoin’s true supply. At that time, as of block height 600,000, Coin Metric’s assessment of BTC’s “liquid” supply was around 16.3 million. Charts from Coin Metrics’ “State of the Network: Issue 26” were published on November 19, 2019. Just recently, the web portal Blockchaincenter.net published a massive visualization of Bitcoin’s circulating supply and distribution. The visual is quite large, but it shows how the existing supply of BTC is distributed among various entities and individuals. For instance, the graphic shows there’s 2.6 million BTC on exchanges, which accounts for 12% of the 21 million supply cap. The visualization also estimates there are 1.5 million zombie coins or so-called sleeping bitcoins. Blockchaincenter’s graph shows over 328,000 coins are mined every year until the next halving as well. A shortened version of Blockchaincenter.net’s 2020 visual graphic. News.Bitcoin.com readers can check out the entire visual here. Grayscale Investments Bitcoin Trust holds 450,000 BTC in reserves and that represents over 2.5% of the outstanding supply of bitcoins today. The chart also shows Microstrategy (38,250 BTC), the 120,000 BTC locked into Ethereum, and Tim Draper’s 30,000 BTC stash of old Silk Road coins. The visualization also shows hacks (120k BTC Bitfinex 2016), the Plustoken scam coins (200k BTC), and the 166,000 BTC sitting in Mt Gox wallets today. Blockchaincenter’s graphic displays how the current circulating and non-circulating supply is distributed today with a unique visual perspective. Bitcoin is quite scarce and only 2.5 million are left to mine until 2140, which is the year the last block will be mined into existence. The network is also extremely difficult to mine with the network’s difficulty touching 19.22T and the hashrate around 140 exahash per second (EH/s). Moreover, BTC will see a reward halving again on or around May 7, 2024 making the digital currency even more limited by design. What do you think about Blockchaincenter’s visual graphic showing the circulating supply and distribution? Let us know what you think about this subject in the comments section below. The post Visual Interpretation of Bitcoin’s Supply Shows the Digital Asset’s Unique Scarcity appeared first on Bitcoin News. View the full article

Since September 2019, research shows the Federal Reserve has pumped over $9 trillion to primary dealers by leveraging enormous emergency repo operations. A recently published investigative report shows the U.S. central bank submits the daily loan tally, but the Fed will not provide the public with information concerning the recipients. Estimates say, in 2020 alone, the U.S. has created 22% of all the USD issued since the birth of the nation. The U.S. Federal Reserve has printed massive amounts of funds in 2020 and bailed out Wall Street’s special interests during the last seven months. On October 3, 2020, Redditors from the subreddit r/btc shared a video called “Is Hyperinflation Coming?” and discussed how the U.S. central bank has created 22% of all the USD ever printed this year alone. “The U.S. dollar has been around for over 200 years and for the bulk of that time, it was backed by gold,” one Reddit user wrote on Saturday. He added: Having a quarter of all USD printed in a single year is more than alarming, it’s mind-blowing. Additionally, on October 1, 2020, Wall Street on Parade’s (WSP) Pam Martens and Russ Martens published a comprehensive report on how the U.S. central bank pumped out “more than $9 trillion in bailouts since September.” The findings show that the Fed is also getting market advice from Wall Street hedge funds like Frontpoint. The hedge fund Frontpoint Partners is a controversial firm because it shorted the subprime mortgage market during the 2007 to 2010 financial crisis. Close to a quarter of all the USD ever created was issued in a single year. WSP financial analysts Pam and Russ Martens detailed on October 1, 2020, the Fed has pumped over $9 trillion cumulatively into the hands of Wall Street firms. The latest WSP analysis shows that the Fed has been “conducting meetings with hedge funds” like Frontpoint in order to get the financial institution’s “input on the markets.” In 2007 to 2010, the Fed was leading a group of lending facilities and once again the central bank is working with three major emergency lending facilities: the Money Market Mutual Fund Liquidity Facility; the Primary Dealer Credit Facility; and the Commercial Paper Funding Facility. “On top of those facilities, beginning on September 17, 2019 – months before the first case of Covid-19 was reported in the United States – the New York Fed embarked on a massive emergency repo loan operation, which had reached $6 trillion cumulatively in loans by January 6,” the WSP findings detail. The Martens’ also state: The Fed has provided data on the total amounts of the daily loans, but not the names of the recipients. All it will say is that the loans are going to its 24 primary dealers, which are the trading units of the big banks on Wall Street. The last time we tallied its data in March, it had sluiced over $9 trillion cumulatively to these trading houses. A number of people believe that the massive creation of money stemming from the Fed will eventually cause hyperinflation. The dollar has lost considerable value since the introduction of the central bank in 1913. For instance, the cumulative rate of inflation since 1913 is around 2,525.4%. This means a product purchased for $1 in 1913 would cost $26.25 in October 2020. Precious metals and cryptocurrency proponents believe the central bank’s pumping will bolster assets like bitcoin and gold. Pantera Capital CEO Dan Morehead explained in July that the company believes cryptocurrencies like bitcoin (BTC) will help people with the gloomy economic outcome. “The United States printed more money in June than in the first two centuries after its founding,” Morehead wrote in a letter to investors. “Last month the U.S. budget deficit — $864 billion — was larger than the total debt incurred from 1776 through the end of 1979.” On the same day Pantera Capital published the letter called “Two Centuries Of Debt In One Month,” the 22-year congressional veteran, Ron Paul, told the public that Americans should be “prepared.” Paul has exposed the U.S. Federal Reserve for the last two decades and has written extensively about the central bank’s fraud. In the video, the former congressional leader said the medical community, U.S. bureaucrats, and the Fed have done things he never expected. “After so many years in Washington, I thought I was immune to being shocked by what our government does,” Paul detailed. “But the actions that our elected officials… the Fed… even the medical community have taken in the past few weeks have gone beyond anything I could have imagined.” “Most Americans will be blindsided by what’s going to happen. Make sure you, your family, and anyone you care about are prepared,” the former U.S. Presidential candidate insisted. Meanwhile, the U.S. airline industry is looking for a second bailout, three days ago the number of the country’s mortgages involved in the bailout program spiked by 21,000, the hotel industry is looking for stimulus, and President Trump recently revealed a multi-billion dollar farm bailout. What do you think about the $9 trillion the Fed pumped into the hands of Wall Street since September? Let us know what you think in the comments below. The post $9 Trillion in Stimulus Injections: The Fed’s 2020 Pump Eclipses Two Centuries of USD Creation appeared first on Bitcoin News. View the full article

Yearn Finance Connect is a decentralized token under the ERC-20 protocol, that allows users to stake YFIC, borrow assets, and vote for improvements within the community. Yearn Finance Connect staking platform enables investors to earn a yield on YFIC token, depositing, and selecting the amount you want to stake, you will get an APR of 25%, and it can be unlocked anytime, and you will get FYICS Token reward also. Borrowers can borrow in an overcollateralized (perpetually) way, selecting USDT (Tether), Ethereum (ETH), or DAI. Yield Farming – Users will still be able to farm for the new YFICF Token with their YFIC Token. EarnConnect is a lending aggregator that strives to attain the highest yield for supported coins (DAI, USDC, USDT, TUSD) at all times. It does this by programmatically shifting these coins between several lending protocols (AAVE, dYdX, and Compound) operating on the Ethereum blockchain. Only 1,000,000 YFIC minted will be distributed to the community through our Airdrops and Pre-sale. Website : https://yfic.money/ Presale link : https://yfic.money/presale/ Yearn Finance Connect Tokennomics Token Type : ERC-20 Token symbol : YFIC Token Name : YearnFinanceConnect Contract : 0x14Be9Bde94102E13971E8f98ACEcaC823CB7fD30 Total Supply : 1,000,000 YFIC Circulating Supply : 550,000 YFIC Initial Uniswap Liquidity : 100,000 YFIC (expected) YFIC for Pre-sale : 400,000 YFIC Team Tokens : 50,000 YFIC Marketing & Development : 200,000 YFIC Airdrops : 50,000 YFIC ( 10,000 YFIC for community) Yearn Finance Connect Community : Telegram : https://t.me/yficmoney Public Chat : https://t.me/yearnfinanceconnect Twitter : https://twitter.com/YFICMoney Github : https://github.com/yficmoney Email : support@yfic.money 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 Yearn Finance Connect (YFIC) New DeFi Project Decentralized Finance, Staking, Lending & Yield Farming appeared first on Bitcoin News. View the full article