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The hunt for Satoshi Nakamoto, which has beguiled internet sleuths for years, has taken another bizarre turn. A new website, Got Satoshi, shows a countdown timer to when it will unveil Bitcoin’s pseudonymous creator. The reveal will occur in 10 days’ time, when many bitcoiners will be gathered in New York for the annual Consensus summit. Although sure to be little more than a PR stunt with a disappointing reveal, the site has generated significant interest, demonstrating the enduring appeal of the Satoshi myth. Also read: Europol Claims New Scalps – Chaos as Darknet Markets are Downed Where in the World Is Satoshi? Throughout human history, elusive characters have provoked intense manhunts, from Amelia Earhart to Percy Fawcett. Satoshi Nakamoto is unique, however, in being the first digital outlaw to have the world’s press, sleuths, and hobbyists on his tail. They’ve been chasing Bitcoin’s enigmatic creator for almost a decade now, and they don’t seem to be getting any closer. On May 14, gotsatoshi.com will host the latest unveiling of Satoshi Nakamoto, or at least so it claims. The one-page website is short on detail, with the only text consisting of “Where in the World Is Satoshi?” and “Can’t find Satoshi? Sign up for the live unveiling.” The meta description provides a little more detail though, reading “Inventor, programmer, genius, maverick. Who is Satoshi? And is the world ready to meet him face to face? Follow the clues and watch our live unmasking and be the first to discover Satoshi [sic] next world-changing project.” Aside from struggling with the English language, unlike Satoshi Nakamoto himself, the creator of Got Satoshi can’t decide whether they’re unveiling a third party as Bitcoin’s founder, or are themselves Satoshi, as the corresponding Twitter account seems to think. A Clever Viral Marketing Campaign but No Satoshi The Gotsatoshi.com domain was registered in May 2017, but has lain dormant until last month, when an archived snapshot of the site shows it to have been proclaiming Satoshi’s unveiling as 10 days away then. It’s possible that the great reveal will remain forever 10 days away, to frustrate watchers hoping for a thrilling denouement, or the countdown may reach zero only to reveal a new shitcoin, puzzle game, or to hail the efforts of the marketing agency that dreamed up the stunt. One thing that won’t be happening, should the counter reach zero, is Nakamoto being revealed as Craig Wright. The operator of the Got Satoshi account may have delusions of grandeur, but they’re not crazy. What are your thoughts on Gotsatoshi.com – it is just another PR stunt? Let us know in the comments section below. Images courtesy of Shutterstock. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. The post New Website Promises to Unveil Satoshi Nakamoto in 10 Days appeared first on Bitcoin News. View the full article

Bahrain’s regulatory sandbox has become increasingly crypto-friendly as half of the companies approved are now either crypto exchanges or other crypto businesses including ATMs. There are currently 30 companies approved for the regulatory sandbox by the central bank. Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request Regulatory Sandbox Thirty companies are currently approved by the Central Bank of Bahrain (CBB) for its regulatory sandbox, half of which are crypto service providers including exchanges. Four companies have been approved this year and three of them (AT Payments Llc, Zpx Pte Ltd., and Bitcove Bahrain) are crypto service providers. In addition, the central bank’s 2018 annual report published last week details that 26 companies were approved between the introduction of the regulatory sandbox and the end of last year. Companies currently approved for Bahrain’s regulatory sandbox. Source: CBB According to the CBB report, up until the end of 2018, 35% of the companies approved for the regulatory sandbox were crypto exchanges and 11% were other provider crypto services such as ATMs and tokenization. When including the three companies approved this year, the number of crypto companies that have joined the regulatory sandbox reaches 50% of the total. Composition of Bahrain’s regulatory sandbox at the end of 2018. Source: CBB The Bahraini regulatory sandbox allows firms to “test their technology-based innovative solutions relevant to fintech or the financial sector in general,” the CBB detailed, noting that the duration of the sandbox is up to nine months with a maximum extension of three months. In December last year, the central bank announced that Tarabut Gateway, a subsidiary of Almoayed Technologies, became “the first company to successfully complete the regulatory sandbox stage and to receive the CBB’s in-principle confirmation under the Open Banking regulatory framework.” Bahrain has been trying to attract businesses to its crypto-friendly environment. In March, news.Bitcoin.com reported that the Bahrain Economic Development Board invited Indian firms to take advantage of the opportunities its country has to offer. Meanwhile, the Reserve Bank of India recently published draft rules on its regulatory sandbox which excludes crypto companies. Bahrain’s Crypto Regulation The central bank issued a consultation paper on directives for services provided by “crypto-asset platform operators” on Dec. 13 last year. It provides “a regulatory framework for licensing and supervision of crypto-asset services to fall under CBB Rulebook Volume 6,” the bank explained. The final rules on a range of activities relevant to crypto assets were published on Feb. 25. “The CBB crypto-asset rules deal with the rules for licensing, governance, minimum capital, control environment, risk management, AML/CFT, standards of business conduct, avoidance of conflicts of interest, reporting, and cyber security for crypto-asset services,” the CBB described. “They also cover supervision and enforcement standards including those provided by a platform operator as a principal, agent, portfolio manager, adviser and as a custodian within or from the Kingdom of Bahrain,” the central bank clarified, adding: For those licensed by the CBB as crypto-asset exchanges, the regulatory framework also contains rules relevant to order matching, pre and post trade transparency, measures to avoid market manipulation and market abuse, and conflicts of interest. What do you think of Bahrain’s crypto-friendly regulatory sandbox? Let us know in the comments section below. Images courtesy of Shutterstock and the Central Bank of Bahrain. Are you feeling lucky? Visit our official Bitcoin casino where you can play BCH slots, BCH poker, and many more BCH games. Every game has a progressive Bitcoin Cash jackpot to be won! Need to calculate your bitcoin holdings? Check our tools section. The post Bahrain’s Regulatory Sandbox Teeming With Crypto Companies appeared first on Bitcoin News. View the full article

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. On April 2019, CoinAll, one of the fastest-growth cryptocurrency exchanges in the world, announced the listing of RVN and offered a 15-day fee-free RVN trading promotion. In the last months, RVN has attracted attention thanks to its price meteoric rise. From April 26th, 2019 to to May 3rd, a 7-day RVN listing celebration was launched. CoinAll will give away 10 BTC for depositing and trading campaign during the celebration time. Ravencoin is a digital peer to peer network that designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin was launched January 3rd, 2018, and is a truly open source project (no ICO or masternodes). Katherine Deng, the general manager of CoinAll, said Ravecoin is a relatively young token but with high potential. It is essentially an open source fork of the Bitcoin code with faster block reward times and is aimed at censorship resistance, transparency and privacy. We will also continue to explore projects with high quality like Ravencoin for global users. The developers offer a list of suggestions in their white paper about things can be sent with Ravencoin. Practically anything can be sent via Ravencoin due to its singular focus on that ability. Among the suggestions are: physical stores of value, like gold bars, silver ingots, or rare comic books; physical fiat currency and real estate deeds; virtual goods, like in-game currency or e-tickets for sporting events; and credit representations, like airline miles or gift cards. The name of Ravencoin is borrowed from the fictional world of Game of Thrones. A Ravencoin post on Medium says: “In the fictional world of Westeros, ravens are used as messengers who carry statements of truth. Ravencoin is a use case specific blockchain designed to carry statements of truth about who owns what assets.” CoinAll is committed to excavating global projects with high quality and potential. As a deep strategic partner of OKEx, the world’s top exchange, CoinAll shares OKEx’s world-leading security system, 24-hour global customer service, and transaction liquidity, and is devoted to bringing better projects and trading experience to their 20 million users’ community. For more information: https://support.coinall.com/hc/en-us/articles/360027650951-RVN-Listed-CoinAll-Share-10-BTC Contact Email Address kana.wen@coinall.com Supporting Link: www.coinall.com/?media=en This is a paid 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 PR: CoinAll Lists Ravencoin With 10 BTC Giveaway appeared first on Bitcoin News. View the full article

General interest in cryptocurrencies is not what it used to be during the all-time highs of 2017 and established companies in the industry have been rethinking their priorities. Entrepreneurship in the crypto space, characterized by ingenuity and optimism, remains strong however. This is shown by the fact that dozens of businesses and individuals in the U.S. have filed for crypto-related trademarks this year. Also read: Russia Prepares to Test Cryptocurrencies in Four of Its Regions Giants Fascinated by Crypto Again? For a while it seemed the times when large corporations were competing to apply for patents and trademarks for crypto and blockchain products had passed. But towards the end of December, South Korean electronics manufacturing giant Samsung registered a trademark in the U.K., Samsung Crypto Wallet, which gave credibility to the rumors about the upcoming integration of a digital currency wallet into its new flagship smartphone. Then recently, footwear and sportswear manufacturer Nike filed for a trademark called “Cryptokicks.” The application was submitted to the U.S. Patent and Trademark Office (USPTO) on April 19 and covers a number of products and services related to cryptocurrencies. Some of the listed items refer to a marketplace for buyers and sellers of digital currency assets and an online retail store featuring footwear and clothing. Other large companies that have previously applied for crypto-related patents and trademarks include globally recognizable names such as Mastercard, Amazon and Walmart. In most cases, however, the products and services mentioned in the filings are yet to be developed and introduced to the market. At the same time, many small businesses and individual entrepreneurs who file for crypto trademarks and patents actually rely on them to build their business. In other words, they don’t do it ‘just in case.’ Crypto Services to Be Offered Under New Trademarks Despite the effects of the ubiquitous crypto winter, the growing number of applications for trademarks containing the word “crypto” is undoubtedly a positive sign. Some of the entries registered with the USPTO may provoke laughter: “In Crypto We Trust” is an educational service, “Crypto for Idiots” is a podcast project with similar intentions, “Cuts for Crypto” is a men’s grooming service, “Middle Finger Money” is a new coin, and “Crypto Vodka” is self-explanatory. Others represent products and services that will increase competition in the industry and provide more use cases for cryptocurrencies. For example, Wyer or Finclusive are brand names of software products that will facilitate the acceptance of crypto payments and the processing of digital asset transactions. Stasia is the trademark of a platform for cryptocurrency exchange and brokerage services. An application has been filed by Laborx, an Australian company that has developed a hiring service supporting pay-as-you-work crypto salaries instead of monthly fiat payments, and Celsius is the name of the platform for saving, lending and borrowing digital coins. According to the Patent Office’s database, dozens, if not hundreds, of applications for crypto trademarks have been filed with the USPTO since the beginning of the year. Some of them have already been approved and registered. Among them is Somee, an Internet-based censorship-resistant social network, which promises to build a community that will control the distribution of its private data. Another one is Net Element, which is a platform for processing payments with credit cards and cryptocurrencies. How many of these new trademarks will prove successful on the market remains to be seen. Do you think the growing number of new crypto trademark applications indicates that businesses feel optimistic about the future of the industry? Share your thoughts in the comments section below. Images courtesy of Shutterstock. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? The Bitcoin Cash Notary tool allows you to prove ownership of copyrighted material and back up important documents by storing a cryptographic digest in the Bitcoin Cash blockchain. The post Dozens of Crypto Trademarks Filed in the US This Year appeared first on Bitcoin News. View the full article

Since the very start, people have lost bitcoins due to human error. Mislaid wallets, forgotten passwords, broken hard drives, hacks, and scams have conspired to remove over 20% of all BTC from circulation by some estimates. The dubious accolade for the first major bitcoin loss goes to forum member Stone Man, who, on August 10, 2010, managed to permanently erase his access to almost 9,000 BTC. Also read: Bitcoin History Part 10: The 184 Billion BTC Bug A Stone Cold Lesson on the Need to Back up Your Keys In the early days of Bitcoin, people were free and easy with coins. A plentiful supply of coins and nominal value, coupled with a nascent community that was still getting to grips with the technology, meant that losses were common. It didn’t help that bitcoin wallets were rudimentary back then, leaving even the savviest of users just one misclick away from disaster. In mid-2010, that’s the fate that befell Stone Man, one of the Bitcointalk forum’s earliest users. “Lost large number of bitcoins,” read the matter-of-fact title to his post published on August 10 of that year. The incident had occurred a day earlier after Stone Man had amassed 9,000 BTC, purchased from the first ever exchange, and then tried to send one coin from his wallet to a different address. The transaction, which can be viewed here, shows that Stone Man achieved this objective. What it doesn’t show is what happened next. The pseudonymous forum user outlined the sequence of events: 1) Bought 9,000 BTC on one of the exchanges over time. 2) Transferred them to my client running on a Linux live CD distro of Debian. 3) Backed up the wallet file to a flash drive. 4) Sent 1 BTC to myself 5) Closed client before any confirmations 6) Shut down system (wiped system disk loaded into memory and therefore the ./bitcoin folder 7) Loaded system back up 8) Copied old wallet.dat file into ./bitcoin folder 9) After some confirmations appeared the balance was 1 BTC and there was a transaction saying I spent 8,900 BTC to an address I did not recognize The fateful transaction Where Stone Cold Went Wrong To a contemporary bitcoiner reading this account, it may not be immediately clear how Stone Cold got rekt. Because BTC uses a UTXO set, whenever you send a transaction, the unspent remainder, known as the change output, is saved to a separate address. Nowadays, that address is automatically subsumed into the sender’s existing bitcoin wallet, without requiring any action on their part. As the second responder to Stone Cold’s post chastized, “It sounds like [the coins] are lost for good. Lesson to other people: Remember you need to back your wallet up after every transaction!” Other users chipped in, trying to help the unfortunate Stone Cold track down his 8,999 BTC using what passed for a block explorer in those days. When viewed in “bitcointools,” an early explorer developed by Gavin Andresen, the transaction looked something like this: A Mistake That Anyone Could Make “The sad part was I wasn’t even testing the wallet backup when this happened,” rued Stone Cold. “I was trying to watch when the network should have confirmed a payment to a website that takes bitcoins by paying myself 1 coin at about the same time. I never dreamed it could compromise my whole balance, especially since I was sending to myself.” Ordinarily, Stone Cold might not have forfeited the remainder of his balance, for as Satoshi, who chipped in on the thread, observed: “[Bitcoin] doesn’t usually empty your wallet with each transaction. It uses the smallest set of coins it can find to add up to near the amount. In this case, unfortunately, his wallet had a single 9000 BTC bill in it, and it had to break it to get 1 BTC and 8999 BTC change.” Today it is no longer necessary to back up your wallet after every transaction, but that hasn’t prevented large quantities of bitcoin from being permanently removed from circulation due to user error. To lose close to 9,000 bitcoins today would be incalculably painful. To lose them back in 2010 was also incalculably painful, because the loss, while stomach-churning, was difficult to price: the first bitcoin exchange had opened only five months earlier, and coins were still trading for only a few cents. Stone Cold never recovered his lost 8,999 BTC and may have never recovered from the blow caused by the then-record-breaking loss. In October 2010, two months after filing his tale of woe, and two months before Satoshi was to publish his final forum post, Stone Cold logged in to Bitcointalk for the last time. He has never been seen since. As for his coins, they will reside in wallet 167ZWTT8n6s4ya8cGjqNNQjDwDGY31vmHg till time indefinite. Bitcoin History is a multipart series from news.Bitcoin.com charting pivotal moments in the evolution of the world’s first cryptocurrency. Read part 10 here. Images courtesy of Shutterstock. How could our Bitcoin Block Explorer tool help you? Use the handy Bitcoin address search bar to track down transactions on both the BCH and BTC blockchain and, for even more industry insights, visit our in-depth Bitcoin Charts. The post Bitcoin History Part 11: The First Major Loss of Coins appeared first on Bitcoin News. View the full article

Two Bitcoin Cash (BCH) community members recently offered up a bounty for someone to fork the decentralized trading platform Bisq using BCH as the native currency. Now it seems a programmer has started the project in order to port Bisq over to BCH with help from BCH developer Pokkst’s Bitcoincashj implementation. The project is still in the midst of development but the platform works on Intellij and the programmer says Bitcoin Cash is very close to getting its own decentralized exchange. Also read: Bitmain Aims to Leapfrog Competition With Its Next-Gen Bitcoin Miner This Developer Forked the Dex Bisq and Bitcoin Cash Will Be the Native Currency Bitcoin Cash supporters were not pleased a few months ago when the Bisq exchange dropped support for BCH after the November blockchain split. Bisq is a noncustodial and decentralized exchange (DEX) that uses a multi-signature escrow system in order to execute settlement without the need for a third party. The DEX phenomenon has recently started to gain more attention after centralized exchanges continue to drop the ball and lose millions of dollars in cryptocurrencies. After the delisting of BCH on the Bisq DEX, two BCH community members on Reddit called u/ftrader and u/7e62ce852 offered up a bounty for someone to fork the Bisq protocol for use with BCH. Following the two offers, many other BCH proponents put up sums of BCH to fund the bounty as well and there’s now close to $5,000 in bitcoin cash up for grabs. Since then, developer Emilio González from Mexico announced he has proceeded to fork the Bisq software and has used the anonymous developer Pokkst’s Bitcoincashj framework, a Java implementation of the Bitcoin cash protocol. “The project uses Bitcoincashj and, well, that’s pretty much everything so far,” the programmer detailed on April 28. “I got school to attend and exams to take, so it’s been kinda slow, but the good news is that as of now ‘Bisq-Cash’ (re-branding maybe?) does work and we are much closer to get a dex of our own.” The developer of the Bisq fork Emilio González. The developer also noted that the forked project is currently hosted on the Bisq Github repository and located at the “cash” branch. In a few days, after exams, the programmer intends to change the price nodes to BCH instead of BTC, alongside adding the Cashaddr address format instead of legacy addresses. The developer Pokkst explained that it was great to see his Bitcoincashj fork being used in the wild and offered to help the DEX development move forward while the creator was busy with exams. The community member u/ftrader, who originally offered a large sum of the bounty money, said it was great to see some progress with the fork. He also suggested that the developer change the name from Bisq to something else and said it would be “a good idea to raise an r/btc post to brainstorm some good new name for the project eventually.” BCH Supporters Hope for Cashshuffle Support The developer of the original Bisq application, Manfred Karrer, also asked the programmer of the fork to change the name so it won’t “cause confusion to users.” Another BCH user said that he believed Bisq was the only fiat-to-crypto DEX he knew of and noted that “it’s worth porting.” “With Bisq you usually pay a premium when you buy bitcoin, and BTC fees make it worse — BCH low fees plus Cashshuffle would make Bisq better,” they added. Other BCH supporters tipped the developer small fractions of BCH using the Tippr bot after he announced the forked protocol was ported to BCH. A flurry of Bitcoin Cash development continues and the latest Bisq fork announcement is just one of many on the horizon. Cashshuffle is one of those developments, an application that was recently launched via the Electron Cash wallet and will soon be implemented on other light wallets. With the Cashshuffle project being at the forefront of people’s minds, some BCH supporters commenting on the Bisq fork announcement thread asked the programmer to implement Cashshuffle into the platform. They believe adding an extra layer of privacy to the application like Cashshuffle would be a positive step. “This use case begs for mandatory Cashshuffle, thankfully BCH makes this completely affordable — a couple of cents for anonymity on a DEX seems like a no-brainer,” another commenter remarked. Overall, most of the BCH proponents who commented on the subject seemed delighted to see the DEX forked for the Bitcoin Cash network. What do you think about the Bisq DEX being forked for the BCH protocol? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Pixabay, Reddit, and Github. Did you know Bitcoin.com will soon be launching a peer-to-peer trading platform called Local Bitcoin Cash? The service will allow for direct exchange with people trading BCH all around the world. At Bitcoin.com we’re excited and it’s coming soon! If you want to stay notified for when the hottest new trading platform launches – Sign up here today! The post A Bitcoin Cash Fork of Decentralized Exchange Bisq Is on the Horizon appeared first on Bitcoin News. View the full article

On April 28, the China-based mining rig manufacturer Bitmain Technologies announced the launch of its latest Antminer T17 model which processes roughly 40 terahashes per second (TH/s). The machine delivers better power efficiency with 55 joules per terahash (J/TH) and the T17 is also equipped with second-generation TSMC 7nm semiconductors. Also read: Statistics Show Bitcoin Cash Is a Strong Contender After Crypto Winter Bitmain’s Newly Launched Antminer T17 Boasts 40TH/s Bitmain has announced its latest product release with the new T17 model, a mining rig that supposedly boasts 40TH/s at top speeds. The manufacturer had already released the Antminer S17 series two weeks ago and the newest T models were announced as “coming soon,” but the specifications and prices were not yet available. The Antminer T17 is a mining rig that processes the SHA-256 algorithm allowing users to mine bitcoin cash (BCH) and bitcoin core (BTC). Bitmain’s blog details that the T17 uses an entirely new design feature aimed at reducing dust entry. Further, the company reveals the mining rig also uses dual tube heat dissipation technology in order to reduce wind resistance. “The space between the air inlet to the air outlet has been reduced by 50%, improving heat dissipation which further enhances the long-term operation of the miner and reduces maintenance costs for users,” the company’s announcement explained on Sunday. According to the Antminer T17 specifications, the machine costs $1,270 per unit and the company has set a limit to 10 miners per user. Shipments of the first batch will start on a first-paid-first-ship basis and delivery starts between May 5-20, 2019. In addition to the 40 TH/s, the miner has a power consumption of 2200W. The T17 weighs around 11.5kg with four fans and a sound output of around 82dB. There are three boards that utilize approximately 90 BM1397 7nm chips that employ TSMC’s FinFET technology. The T17 offers a newly improved APW9 power supply which aims to ensure longer and stable operations. The new miner can be purchased through the website but shipments to the U.S. will include a 2.6% tax due to the mining rig’s import classification. Competitor ASICs Are Still Unavailable While the 5 Latest Antminer Models Are Now Available for Public Consumption The latest T17 model follows the recent lineup of competitor models offered by manufacturers from the same country. Canaan has recently announced the new Avalon series with the Avalonminer 1041 and the 1041F. The new Canaan models boast hashrates between 31-33TH/s but use 16nm chips. Then there’s the Microbt Whatsminer M20S which claims to command 70 terahashes per second by utilizing 12nm TSMC made semiconductors. However, the new Whatsminer is not available until August and the Avalonminers from Canaan are also “out of stock.” With the latest Antminer S17s and the newly launched T17, Bitmain is once again leading the pack by being able to deliver miners first. A few miners have already reported on receiving the latest S17s from the company on social media. “Antminer S17 Pros just arrived — I apologize in advance for the slight bump in the BCH hashrate,” one person said jokingly on Reddit. The Redditor on r/btc who recently received his Antminer S17 Pros in the mail on April 25. At the moment, according to statistics on Asicminervalue.com, a data website that records live income estimation of all known ASIC miners, the Antminer S17 Pro (53TH/s) is the most profitable miner in the industry. All of the S17 series and the new T17 are in the top 10 list of the most efficient miners in the globe. The mining rigs are among Whatsminer’s M20S which is not available until the summer and Innosilicon’s Terminator 3 (T3) which is comparable to the T17 at 39TH/s. The Innosilicon miner is $1,290 per unit for pre-orders but the price will increase to $1,450 per unit when the T3 is in stock. As it stands, besides older generation machines released last year, the new Antminer products from Bitmain are the only 2019 miners released this year that are currently available to the public. What do you think about the new Antminer T17 model from Bitmain? Let us know what you think about this subject in the comments section below. Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned companies, ASIC manufacturers, software or any of the affiliates or services. Bitcoin.com or the author 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 this article. This editorial review is for informational purposes only. Image credits: Shutterstock, Bitmain, Asicminervalue.com, and r/btc. Are you interested in mining bitcoin but don’t want to buy all the equipment, gear, and figure out how to set it all up? Setting up mining rigs can be a hassle and then you have to maintain them too. Well, Bitcoin.com has you covered with our top-notch Cloud Mining services – Check out our excellent offers on terahash and earn bitcoin today! The post Bitmain Aims to Leapfrog Competition With Its Next-Gen Bitcoin Miner appeared first on Bitcoin News. View the full article

If you have a popular website, blog or even a large mailing list of people interested in cryptocurrencies or online games, there are a few ways to monetize your traffic. One quick and easy revenue-generating solution is to create a referral program that’s tailored to the interests of your audience. Also Read: How to Start Cloud Mining Bitcoin Cash Monetize Your Traffic With a Referral Program A referral program offers content creators the option to make money from their work, not by getting paid a few cents to display ads, but by sharing revenues based on success. Bitcoin.com offers such a service, related to the promotion of our online gaming section. Joining the Bitcoin Games Referral Program requires no registration and lets you earn up to 25% of the house edge on all bets made by people you direct to the site, with no top limit on how much you can earn. Bitcoin.com’s entertainment section offers a multitude of games such as Slots, Blackjack, Video Poker, Dice, Roulette, Keno and Craps. Players don’t need to register and can enjoy the games anonymously. At the same time, the platform also offers two-factor authentication, password protected accounts and a dedicated customer support team. These features make it easy to get involved, and ensure a steady stream of revenues from the players you referred. To join the referral program all you have to do is go to the Bitcoin Games referral page, and your account will already be automatically set up. There you can find your unique referral link and banners in many shapes and sizes to share. The same page can also be used to track your earnings and referral statistics. Have you tried the Bitcoin Games referral program? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post How to Monetize Your Blog or Website With Bitcoin Games appeared first on Bitcoin News. View the full article

Twenty-four financial authorities and 11 international organizations, including the International Monetary Fund and the World Bank, recently gathered in New York and discussed global standards of crypto regulation. “It is important to consistently implement international standards,” said the chairman of South Korea’s top financial regulator who attended the meeting. Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request Financial Authorities Discuss Crypto Regulation The Financial Stability Board (FSB) Plenary met at the Federal Reserve Bank of New York Friday to discuss “vulnerabilities in the global financial system” and the progress report to be delivered to the upcoming G20 meetings in Japan. Among the topics of discussion was global standards of crypto regulation. “The plenary discussed the different initiatives underway at standard-setting bodies to address risks from crypto-assets and any possible gaps in this work,” the FSB detailed. The Board added that its work on crypto assets has focused on two areas: monitoring of the financial stability implications and a directory of crypto asset regulators. Promising that it will publish an update on “the work of the standard-setting bodies and will deliver it to the June meeting of G20 Finance Ministers and Central Bank Governors,” the Board elaborated: Members took note of the continued rapid evolution of crypto-asset markets and the need for continued monitoring of developments… the FSB is exploring financial stability, regulatory and governance implications of decentralised financial technologies. The FSB is an international body that monitors and makes recommendations about the global financial system. Its members include Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Singapore, Spain, Switzerland, Turkey, the U.K., the U.S., the European Union, the Bank of International Settlements, the International Monetary Fund (IMF), and the World Bank. Earlier this month, IMF Managing Director Christine Lagarde told CNBC, “I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system,” adding that they must be monitored to maintain stability. Transnational Cooperation Needed According to South Korean media, the meeting was attended by 24 financial authorities and 11 international organizations including the IMF and the World Bank. All are members of the FSB. Choi Jong-ku, Chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), attended the meeting. He told local media that the group discussed international cooperation on crypto regulation. FSC Chairman Choi Jong-ku “Transnational cooperation is necessary to regulate virtual currencies,” Choi was quoted by Toyo Economy news outlet as saying. He asserted that each country needs to implement relevant regulation in accordance with the international standards prepared by the Financial Action Task Force (FATF), noting: It is important to consistently implement international standards agreed by international organizations on a country-by-country basis to minimize regulatory inconsistencies. The G20 has reaffirmed its support for the FATF as “the global anti-money laundering, counter terrorist financing, and proliferation financing standard-setting body,” as news.Bitcoin.com previously reported. The FATF is currently updating its recommendations for crypto regulation. Several countries, including India, are working with the organization on global standards for crypto assets. Do you think these countries should implement global standards to minimize crypto regulatory inconsistencies? Let us know in the comments section below. Images courtesy of Shutterstock and Toyo Economy. Are you feeling lucky? Visit our official Bitcoin casino where you can play BCH slots, BCH poker, and many more BCH games. Every game has a progressive Bitcoin Cash jackpot to be won! The post 24 Countries and IMF Discuss Global Standards of Crypto Regulation appeared first on Bitcoin News. View the full article

You wouldn’t know to look at it, but Binance DEX could soon become the busiest exchange in the cryptosphere. At present, MITH is the only token tradable on there, though it will soon be joined by NOW – the first token to be added to Binance Chain – plus hundreds more if exchange boss CZ has his way. But how accessible is Binance DEX, particularly to users of countries that are denied access to centralized exchanges? And exactly how decentralized is Binance DEX? Also read: Wizsec Security Blames Coinlab After Mt. Gox Trustee Delays Proceedings Binance Wants to Make DEXs Sexy Characterized by poor UX, low liquidity, and slow onchain order execution, decentralized exchanges (DEXs) aren’t much fun. Binance DEX promises to change all that, with an interface that resembles its parent exchange, and block times of just a few seconds ensuring trades are settled rapidly. Cryptocurrency projects seem sold on it, at least, with dozens having already applied to join Binance Chain and be listed on its DEX. The first project to be officially added to Binance Chain, Change Now, is in the midst of initiating a token swap, and appears destined to join the DEX next, based on tweets from Binance CEO Changpeng Zhao and sentiment expressed on Binance Community. There it will join mithril (MITH), which is currently trading on Binance DEX against BNB. There’s not much to do on Binance DEX at present other than create a wallet and acclimatize to its layout and ordering procedure, before waiting for projects migrating to Binance Chain to complete their token swaps. In addition to Change Now, whose Now Swaps service has also been assisting with the BNB token migration, CZ has spoken of welcoming multiples more projects onto Binance Chain and its corresponding DEX than are currently listed on the main exchange. In the weeks to come, the trickle of tradable projects on Binance DEX looks set to become a torrent. Help the @Binance_DEX validators decide, help the industry grow, should @ChangeNOW_io be listed? Voice your opinion at:https://t.co/4V8r282Wbb — CZ Binance (@cz_binance) April 25, 2019 Getting Started With Binance DEX A wallet creation tutorial guides beginners through the prerequisites to begin trading on Binance DEX and there’s also a detailed guide to getting started. Users are given three ways to access their wallet: using a keystore file and password, using a 24-word mnemonic phrase, or with a private key. The Binance-owned Trust Wallet, as well as the Coolwallet S and Ledger devices are all supported, enabling users to access the DEX directly from their hardware wallet. Trust and Coolwallet utilize a service called Wallet Connect, which provides DEX authentication by scanning a QR code via the respective mobile wallet. True Decentralization or Just Window Dressing? Much has been made of the design of Binance Chain, whose node validators are all controlled by the exchange. In the context of censorship resistance, therefore, Binance DEX, which runs on Binance Chain, doesn’t score highly, but then that was never the intention. The DEX has been designed to facilitate trustless trading without the need to deposit funds, and it achieves that with aplomb. Binance Chain doesn’t need to rival Bitcoin or Ethereum in terms of decentralization; its primary purpose is to enable the noncustodial exchange of assets. These assets are of course limited to Binance Chain’s native BEP2 tokens. Unless wrapped versions of BTC and ETH are made available on the chain, therefore, leading cryptocurrencies will remain unavailable on the DEX. Binance DEX looks very similar to its parent exchange As for who can trade on Binance DEX, the exchange has issued no formal guidelines as to which countries, if any, are excluded. With no KYC or registration required to participate, however – not even an email address – anyone can technically trade on the decentralized exchange, with a VPN taking care of any IP blocking that might otherwise stand in the way. Binance caught flak for quietly excluding countries that were subject to U.S. sanctions, such as Iran, late last year. These individuals will be able to trade on Binance DEX in the knowledge that central powers are powerless to seize their funds. If Binance DEX can provide that, it will have justified its existence. Justifying the great expectations surrounding the new decentralized exchange will take longer. What are your thoughts on Binance DEX? Have you tried it yet? Let us know in the comments section below. Images courtesy of Shutterstock. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. The post As Projects Flock to Binance Chain, Its DEX Has a Lot to Live up To appeared first on Bitcoin News. View the full article

Cryptocurrency advocates try to get the CEO of Twitter to ban @Bitcoin and the New York Attorney General goes after the company behind Tether. This and more in the weekly video news update on Bitcoin.com’s Youtube channel. Also Read: How to Start Cloud Mining Bitcoin Cash Watch Bitcoin.com’s Weekly News Update This week’s show covers the latest attempts by BTC maximalists to deplatform @Bitcoin from Twitter over the account owner’s pro-BCH stance. One of them shared a private message sent to to the social media company’s CEO, Jack Dorsey, about getting the @Bitcoin account banned, to which he replied: “What do you recommend we do with it?” This might be a prelude to a new round of censorship on the platform. Also discussed is the announcement by New York Attorney General Letitia James that her office obtained a court order against iFinex Inc., operator of the Bitfinex exchange, and Tether Limited, issuer of the USDT, in connection with activities that may have defrauded investors. “Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds,” said James. Other subjects discussed in the weekly update include an investment by Samsung in hardware wallet Ledger, the growing number of bitcoin cash meetups around the world, BCH donations, new merchant solutions, new tokens and upgrades to the protocol. Make sure to subscribe to the Bitcoin.com Youtube channel and leave a comment on the latest video. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Twitter Shenanigans and Tether Probe in the Weekly Video Update From Bitcoin.com appeared first on Bitcoin News. View the full article

Last week, mining manufacturer Bitmain launched its latest Antminer 17 series. Now Canaan Creative has published its own device specifications and pricing for the new Avalonminer 10 series that process between 31-33 trillion hashes per second (TH/s). In addition to Canaan’s latest miners, two more China-based companies are releasing next-generation miners this summer that mine at maximum hashrates between 46-70TH/s. Also read: Statistics Show Bitcoin Cash Is a Strong Contender After Crypto Winter Avalonminer 10 Series: 31-33 Trillion Hashes per Second Bitcoin mining machines that process the SHA256 consensus algorithm are growing ever more efficient. Last year, a number of newly improved mining rigs were released by various manufacturers and this year there’s a bunch more on the horizon. News.Bitcoin.com recently reported on Bitmain and Canaan’s new miners but Canaan hadn’t published the latest Avalonminer 10 specifications or prices. The new Avalonminer 10 series documentation is now available on the company’s website and interested buyers can sign up for the waiting list. There are two models available on Canaan’s store – the Avalonminer 1041 and the 1041F. Interestingly, even though one unit is a bit more effective than the other, they are both listed for the same price at $1,057 per mining rig. The 1041 unit processes the SHA256 algorithm at 31TH/s and power efficiency of 56 joules per terahash (J/TH). Another thing to note is that the 10 series models both use 16nm chipsets rather than the next-generation 10nm or 7nm chips used by competitors. In addition to the chips used, the 1041 machine puts out 70 decibels (dB) of sound and weighs around 8kg. The more effective Avalonminer model, the 1041F, processes 33.5TH/s according to the 1041F specifications page. Canaan says the 1041F comes with top tier power efficiency by giving owners 63J/TH. The machine is a touch lighter at 6kg and also puts out 70db sound which Canaan calls a “traditional” output. Each machine has a 180-day warranty from when the mining rigs are received. Strongu’s U8 Model: 46 Trillion Hashes per Second In addition to the latest mining rigs being sold in 2019, the top three mining giants Ebang, Bitmain and Canaan have smaller competitors trying to make strides in the industry. Two models being sold this summer aim to give miners higher hashrate for their money. The first mining rig expected to go on sale this July is Strongu Mining’s STU-8 (also known as the U8) which claims to pack a maximum hashrate of 46TH/s. The model’s power consumption takes about 2100W off the wall according to specifications. A few vendors online expect the U8 model to sell between $1,520-1,883 per unit. The U8 is a bit louder too as the unit’s fan has a noise level of around 76dB. The U8 model will be sold in pre-sale batches as well (25 units per order) according to the Strongu website. However, the China-based firm does not disclose what type of chipset is used for the latest U8 model. Microbt Whatsminer M20S: 70 Trillion Hashes per Second Another mining rig expected this summer stems from another company headquartered in China. The manufacturer Microbt claims the new Whatsminer M20S will process a maximum hashrate of around 70TH/s. The machine has a power consumption of around 3360W and has a noise level of around 75dB. Microbt plans to sell the mining rig in August and the rig’s official distributor Pangolin is selling each unit for $2,349. The Pangolin website does disclose the type of chip used in the new M20S models, revealing it to be a 12nm TSMC made semiconductor. Despite the crypto winter, bitcoin mining manufacturers have continued to develop faster models with next-generation chips. Both BTC and BCH hashrates have risen significantly in 2019 and global data shows the mining economy is still booming. It’s likely that next-generation machines will relentlessly push the envelope within this industry. With the Microbt Whatsminer M20S, Strongu’s U8, and the new Antminer 17s from Bitmain producing hashrates of over 50 trillion hashes per second, mining competitiveness is guaranteed to increase. Soon enough, mining participants and facilities will find that low hashrate-producing mining rigs will be far less efficient to the point of not being worthwhile to run, unless they’re combined in great numbers. What do you think about 2019’s next-generation miners from Canaan, Microbt, and Strongu? Let us know what you think about this subject in the comments section below. Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned companies, software or any of the affiliates or services. Bitcoin.com or the author 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 this article. This editorial review is for informational purposes only. Image credits: Shutterstock, Canaan Creative, Microbt, Asicminervalue.com, and Strongu. At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published. The post These Next-Generation Mining Rigs Pack a Ton of Hashpower appeared first on Bitcoin News. View the full article

Cryptocurrency gives companies another payment option to offer their customers that yields a host of benefits. In the case of bitcoin cash, crypto payments are an easy, fast and cheap option, thanks to ultra-low onchain fees. BCH Merchant is a Point of Sale app that allows businesses to accept bitcoin cash. Also read: Crypto-Friendly Banking Platform Cashaa Offers Personal and Business Accounts Free App Helps Expand Payment Options BCH Merchant is a free mobile application developed by Bitcoin.com which is available in the Google Play store. With the simple to use POS software, merchants can accept bitcoin cash payments at any retail location. The app is very easy to set up as no account or registration is needed. To start receiving BCH payments, all you have to provide is a public key or an extended public key linked to your cryptocurrency wallet. Permissions are limited to the camera, used to scan QR codes, network connections, and the Near Field Communication (NFC) functionality. BCH Merchant is QR code payment compatible with all bitcoin cash wallets. Amounts can be displayed in local currency and the application supports over 150 fiat currencies. Thanks to the design of the Bitcoin Cash network, the fee paid by customers is very low – less than $0.01 – and is charged independently of the amount due. BCH Merchant offers instant and safe payments. The app is also employee-friendly, with all settings accessible only through a PIN code. If you or your business need a simple and secure way to send and receive cryptocurrency, you can also download and install the Bitcoin.com Wallet – over 3.9 million have been created already. The wallet is available for mobile and desktop devices and all major operating systems including iOS, Android, Windows, and Linux. Are you offering your customers a crypto payment option and what services are you using? Let us know in the comments section bellow. Images courtesy of Shutterstock. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post BCH Merchant App Allows Businesses to Accept Crypto Payments in Store appeared first on Bitcoin News. View the full article

Runet, the Russian segment of the internet, is about to be isolated from the rest of the web. A new law adopted by the State Duma aims to do so in order to supposedly protect it from external threats and turn it into a “sovereign” space. Russian taxpayers and end users will pay the bill for the extra security that is likely to affect internet businesses including crypto platforms. Also read: Lithuania to Adopt Crypto Regulations Even Stricter Than the EU’s Is Moscow Building Russia’s Great Firewall? This week, the lower house of the Russian parliament adopted on third and final reading a draft known as the “Digital Economy National Program.” The legislation still needs the approval of the Federation Council – the upper house – before it’s signed by President Putin but the decisive support in the Duma, where over two thirds of the deputies voted in favor, is a strong indication of the political will to pass and implement the law. Some of its key provisions include the introduction of a system that will channel Russian internet traffic through government-controlled routing points as well as granting unlimited powers to Roskomnadzor, which will be able to cut off non-complying internet providers. The country’s telecom watchdog will set up a monitoring center that will detect threats and issue instructions. Roskomnadzor will also create and maintain a national domain name system (DNS). The new legislation is designed to ensure that online data transfers between Russian citizens, businesses and organizations are executed within the country instead of being routed internationally. Russia, which has been threatened by the West with sanctions over alleged cyber attacks, wants to build its own DNS system which will remain operational even if links to the servers based abroad are interrupted. The Runet law is scheduled to enter into force in November this year, with the rules governing Russian domains and cryptographic protection of information expected to be introduced on January 1, 2021. The bill has already attracted criticism from different corners of Russian society, not least because its implementation has been estimated to cost the state budget more than 30 billion rubles (almost $500 million). There’s also a strong suspicion that Moscow intends to use the system for censorship purposes. Some have already likened it to China’s Great Firewall and protests have been held against it. All Depends on the Opposition to the Law Roskomsvoboda is one of the organizations that have voiced serious concerns regarding the adoption of the Runet law. It is fighting internet censorship while promoting freedom of information and self-regulation in the online space. Roskomsvoboda was established in 2012 when Russian authorities created a banned websites register. It is constantly monitoring the government’s legislative activities regarding internet regulation including restrictions imposed on web-based sources. News.Bitcoin.com contacted the project’s leader Artem Kozlyuk for his opinion on the upcoming changes. “Of course we, like many other public organizations and internet companies, oppose the adoption of this absurd legal act,” he said noting that lawmakers assess “external threats” inadequately without defining them and prescribing counteractions. Kozlyuk believes Russian internet infrastructure will become more centralized under the new regulations, which will actually increase cyber risks. “Any decentralized system is always more robust against external influences, but the initiators of the bill are unwilling to realize that,” he added. The activist emphasized that the legal texts are quite unclear and the sponsors of the draft want to put everything under government control, from domain names and cryptography to traffic filtering and routing. All this will create multiple threats – economic, technical and legal. On top of that, the government’s working group on IT and communications has estimated that the annual costs of maintaining the sovereign Runet will reach 134 billion rubles (over $2 billion). “If these expenses fall on the shoulders of telecom operators, that will lead to increased internet costs for Russians. Internet connection can also be slower and constantly failing due to the filtering equipment through which all traffic will be passing,” Kozlyuk elaborated. There’s also a risk of monopolizing the internet services market and regional shutdowns and disconnections will likely be much more common. At the same time, Roskomsvoboda’s founder thinks that it would be very hard to completely disable the rest of the internet in Russia. According to Artem Kozlyuk, the effectiveness of the blockade will depend on the position of internet providers and their readiness to resist censorship. “If they do that, then I am sure that internet resources like Telegram will continue to be accessible to Russians. Many VPN services have already refused to redirect traffic to Roskomnadzor and this is encouraging,” he commented. Russian Crypto Industry to Be Affected The Runet law is likely to negatively affect crypto businesses in Russia, some of which have already started looking for better regulatory climates for this and many other reasons. Russian lawmakers have been postponing the adoption of a package of bills meant to regulate digital financial assets and related matters since last year. The Duma is now expected to adopt them on third reading this spring. “Currently, cryptocurrencies in our country are in the gray zone and crypto portals are often being prosecuted. But we have cases when our lawyers successfully challenged their illegal blocking,” remarked Artem Kozlyuk. Nevertheless, prosecutors continue to refer to Russian courts requesting the prohibition of one platform or another. “Of course, in such conditions it’s difficult to provide these services and Russian developers have been looking towards other markets, where there are fewer risks of this kind and authorities demonstrate a more positive interest in this space,” said Kozlyuk. What consequences do you expect from the new law isolating the Russian internet from the global web? Share your thoughts on the subject in the comments section below. Images courtesy of Shutterstock. Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com. The post Russia Adopts Law to Isolate Runet From the Internet appeared first on Bitcoin News. View the full article

On April 17, the founder of the Drivechain project, Paul Sztorc, published a new blog post concerning the validity of today’s so-called ‘production sidechains.’ Sztorc has declared on multiple occasions that true sidechain technology hasn’t been invented yet and even Blockstream’s Liquid protocol, dubbed “the first production sidechain,” in a critical sense is not a ‘real’ sidechain. Also read: Statistics Show Bitcoin Cash Is a Strong Contender After Crypto Winter Paul Sztorc Questions the Validity of the Supposed ‘First Production Sidechain’ Over the last year, there’s been a lot of discussion concerning sidechain technology and the conversation intensified when Blockstream released its Liquid protocol. The project is considered to be a sidechain that’s interoperable with the BTC network, but since the day it was launched has been criticized for its method of consensus called ‘federated distribution.’ Critics believe the federated distribution model is not really ‘peer to peer’ as it relies on a large group of exchanges and fancy multi-signature technology in order to provide trust. There have been many criticisms aimed at Blockstream’s Liquid project. Because of the injected orthogonal trust Blockstream created, Liquid critics believe there’s nothing new or exciting to a consortium of exchanges acting as the custodians for an entire sidechain system. Paul Sztorc is a critic of Liquid and he’s also the creator of an alternative sidechain project called Drivechain. On Wednesday, Sztorc wrote a blog post that questions the validity of Liquid being a ‘real’ sidechain, adding that a recent quote from Blockstream developer Greg Maxwell solidifies his argument. “Blockstream markets Liquid as ‘the first production sidechain,’” Sztorc details, sharing multiple links where this statement is highlighted on the web. “But I think that something in that phrase has to be false. Either Liquid isn’t a sidechain; or else (if sidechain is redefined) then Liquid isn’t ‘the first’ of that thing.” RSK chief scientist Sergio Demian Lerner stated in 2015 that a federated peg with multi-sig is the best they have right now. This is still the case to this day. The reason Sztorc feels Liquid is not really a sidechain is because a two-way peg is a fundamental feature of sidechain technology and since Liquid never invented a two-way peg technique, Sztorc has “never seen it as a real sidechain.” One key factor that shows Liquid’s lack of this feature is the fact that Liquid does not enable the ability for third parties to develop a permissionless sidechain. Sztorc’s paper explains that an individual couldn’t create a sidechain token similar to Bitcoin Cash and Rootstock cannot use Liquid to create an Ethereum clone. Moreover, the Drivechain developer says that the technology used in Liquid is old tech that’s been on the go for years. For instance, multi-signature has been used for thousands of years, Sztorc’s blog post highlights, and not only that, but multi-sig has been applied to BTC since 2012. Additionally, the researcher notes that other features found in Liquid have also been used in the past by other projects. Sztorc’s post continues: I struggle to understand the claim “first production sidechain” — On one hand, it suggests novelty and innovation. But the reality is that Liquid is not particularly novel (even if there is a lot of engineering behind it). The issue people have with Drivechain is one of trust with miners, who are ironically the very actors who secure the network. Liquid Does Not Use a ‘True’ Two-Way Peg so in a Critical Sense It’s Not a ‘Real’ Sidechain In addition to Sztorc’s critique, his argument is bolstered by Greg Maxwell’s own words. Sztorc underlines a specific quote made by Maxwell during a presentation on the subject of sidechains. “We describe this mechanism called a federated peg, that is a sort of step-in alternative to the true two-way peg mechanism, that works without any changes at all in the hosting network,” Maxwell stated during the presentation. In Sztorc’s opinion, Maxwell’s words make it “crystal clear” that the federated peg is “undesirable.” It seems the federated model was the easiest way for Blockstream to produce the interoperable chain design but Liquid is still forced to add a second layer of trust that’s provided by a group of ‘trusted’ exchanges. The “not your keys, not your bitcoin” adage underscores the idea that Liquid’s model and others like it look no different than custodial solutions with some clever multi-signature technology. “The only reason [a federated peg] is used, is because of a lack of “native support” for “true two-way peg” technology,” Sztorc’s paper concludes. “Since the Fed Peg is an alternative to a “true” two-way peg, then what is it? A non-true two-way peg — a false two-way peg — So, Liquid does not use a “true” two-way peg and in that critical sense is not a “real” sidechain.” Drivechain Development The Drivechain (DC) developer and a group of other blockchain engineers have been steadily developing the DC project and recently released Drive Net 22. A key difference between DC and a federated method is the project uses the trust model that already resides within the bitcoin network — mining consensus. Sztorc and other DC proponents believe that blind merge miners acting as custodians would be the least problematic solution. One way to look at it is with every block mined, merge miners vote on the sound state of the secondary chain. This contrasts sharply with a federated two-way peg model that some believe is no different than EOS or XRP. DC supporters think that Drivechain would alleviate threats to the main chain by lessening the need for hard forks and altcoins. Hashrate would essentially remain consistent and there would be less fear of miners leaving the main chain. Moreover, the main chain could essentially scale to handle the entire globe and be able to experiment with new features without affecting the main chain. Critics think that Liquid, on the other hand, cannot offer these features of experimental sidechains and the business model seems to be more focused on speedy transfers between exchanges, wrapped assets, and purported confidential transactions. Even so, the company seems hellbent on providing this type of interoperable chain, even though engineers have told them the security model may encounter issues in the future. The fact is, federated pegged funds can most definitely be breached if any members of the federation are compromised. If, for instance, ‘X=7’ keys are attacked then funds can be stolen which makes a group of ‘trusted functionaries’ no different than the current banking system used today. What do you think about Sztorc’s criticism of Liquid? Do you think Liquid is a real sidechain? Let us know what you think about this project in the comments section below. Image credits: Shutterstock, and Twitter. At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published. The post Without a True Two-Way Peg No ‘Real’ Sidechain Exists, Says Drivechain Creator appeared first on Bitcoin News. View the full article

Cryptocurrency without privacy is pointless. If your coins aren’t fungible, you lose much of the benefits of using cryptocurrency in the first place. Privacy isn’t just won and lost onchain though. In fact, much of the privacy gains to be made when it comes to sending, spending and trading crypto occur offchain, as you go about your business on the web. Also read: Wasabi’s Privacy-Focused BTC Wallet Aims to Make Bitcoin Fungible Again The Never-Ending Quest for Privacy Privacy is like fitness: a way of life rather than a task that can be ticked off. Just as it takes time, perseverance and focus on different muscle groups to build a better body in the gym, strengthening your privacy calls for undertaking regular exercises to stem the flow of doxable information. Every time you perform an action online, you’re hemorrhaging a trove of data. This can be particularly damaging for cryptocurrency users, whose onchain actions will be recorded indefinitely. When paired with offchain data points such as IP, email address, and cell number, it’s possible for an adversary to build a complete picture of their target. Given the ever-increasing capabilities of three-letter agencies, it’s safe to assume that in the near future, the state will be able to construct a highly detailed picture of the activities of today’s cryptocurrency users. tl;dr: privacy matters. Here are five ways to up yours. Use a VPN There’s an assumption that using a VPN requires a degree of technical knowledge, and is for privacy zealots only. In fact, the majority of VPNs are foolproof and can be up and silently running in a couple of clicks – no manual port reconfiguration necessary. Opera even offers a VPN now in its desktop and Android browsers. “Enhanced online privacy is a right for everyone,” claim Opera. They’re right. A VPN will provide an added layer of privacy when logging into exchanges as well as masking the IP address associated with Bitcoin transaction relays. Separate Your Regular Email From Your Crypto Email Creating a separate email account for every cryptocurrency service you need to log into is impractical. You can, though, segment all of your crypto-related emails into a single account. This will yield twin benefits: if your main account is compromised, the hacker will have no information on or access to your crypto activities. Secondly, if you choose a fully encrypted email account such as Tutanota, prying eyes at border control and other government agencies will have no insight into your penchant for trading obscure shitcoins. Stop Reusing Addresses More than half of all bitcoin transactions involve addresses that have previously been used. Creating a new bitcoin address is free, instant, and provides an immediate privacy boost. If the wallet or platform you’re using doesn’t allow you to create a new address at will, stop using it. There’s a wealth of competing services out there, and switching to a more privacy-minded alternative can be done in a matter of minutes. Unless you’re transacting solely in privacy coins like monero, or are using an account-based, rather than UTXO-based, system like ethereum, you should aim for a fresh address every time. Keep Your Keys and Codes Offline Where do you store the backup 2FA codes for your trading accounts and the private keys to your crypto wallets? Are they written down, split into parts and stashed offline in a series of very safe places? Or are they hidden in plaintext in a folder on your laptop marked “anime”? You’d be surprised how many people go with the latter. Even if you’ve encrypted the folder containing your keys and codes, it’s dangerous to assume it can’t be cracked by a determined attacker since, statistically speaking, you almost certainly recycle passwords – you and 10 million others. Keeping your private keys offline will protect you in the event of your computer being physically or digitally compromised. Even if you can’t afford a bank vault or strongbox, separating your key into parts and storing it in multiple locations – with duplicates, to ensure redundancy – will work just as well. Always Be Shuffling Coin mixers aren’t for the ultra-paranoid and the ultra-shady: they’re for everyone. If more people ran their coins through tumblers before withdrawing them to hardware wallets, bitcoin would become significantly more fungible, and blockchain forensics companies would suffer a major blow. Even if you can’t be motivated to mix your coins for the greater good, do it for your own. Services such as Cashshuffle for BCH make it easier than ever to obfuscate the origin of your coins, while Coinjoin, incorporated into pro-privacy wallets like Wasabi, do the same for BTC. There’s something extremely comfortable about having a stash of cryptocurrency that can’t be linked to your identity safely stored in a hardware wallet that’s been backed up. It’s the digital equivalent of having a backyard bunker filled with canned goods and ammo in readiness for the apocalypse. Treat yourself to a privacy makeover and see how good it feels. What other privacy tips do you recommend? Let us know in the comments section below. Images courtesy of Shutterstock. Disclaimer: Bitcoin.com does not endorse nor support the products/services mentioned in this article. Readers should do their own due diligence before taking any actions related to the mentioned 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 this article. The post Five Simple Ways to Increase Your Privacy When Using Cryptocurrency appeared first on Bitcoin News. View the full article

Monarch Wallet Update Brings Bitcoin Cash (BCH) Support In-App The Monarch Wallet now supports Bitcoin Cash (BCH). Users can now store, send, and receive BCH in-app. Qualified Users Can Earn Interest & Purchase BCH in-app using their Credit Card. Monarch Wallet Update adds Bitcoin Cash (BCH) to its list of over 1900 supported cryptocurrencies. Users can now Store, Send, and Receive BCH with Monarch’s Decentralized Universal Crypto Wallet. Monarch Blockchain Corporation’s latest update to the Monarch Wallet brings support for Bitcoin Cash (BCH) in-app. Users can now store, send and receive BCH from the Monarch Wallet on Android and iOS. In addition, qualified users will be able to purchase BCH via credit card, and even earn APR % Interest using BCH inside their interest earning wallet. Bitcoin.com will also be adding the Monarch Wallet as another wallet their users can download on their website. Robert Beadles Interviewed Roger Ver on his Crypto Beadles YouTube Channel to Coincide with the BCH Monarch Wallet Update Announcement. You can view the full Interview here: https://www.youtube.com/watch?v=9iwOqE-axeg&feature=youtu.be Robert Beadles, President of Monarch Blockchain Corporation, “Myself and team are working around the clock to bring real value to the crypto community, it is beyond words humbling to have one of the OG’s of crypto join the fam and help us in our mission to bring the masses into crypto via an easy to use all in one experience, Roger is the man!” You can Download the Monarch Wallet Here. The Monarch Wallet supports over 1900 cryptocurrencies and has other features like a fiat gateway that lets customers buy and sell Bitcoin (BTC) and Ethereum (ETH) with their credit card or bank account at some of the most competitive rates available. Users can also make most any ERC-20 to ERC-20 token exchange using the decentralized exchange in-app, switch between a hot and cold wallet by simply removing internet access to the device their app is located on, and even earn up to 7.1% APR interest with select cryptocurrencies. All of this while maintaining control of their own keys and seed. Monarch continues to update the Monarch Wallet app with new features, token support, and quality of life improvements regularly. One such upcoming development is the addition of Simple Ledger Protocol (SLP) support tentatively in the next two weeks. Monarch Blockchain Corporation is excited to announce that Roger Ver has joined Monarch as an investor, partner and advisor. This is truly exciting because Roger Ver has been a proponent of Bitcoin and blockchain technology since 2011 and has invested in some of the most influential blockchain companies in the space. As Monarch continues to build products and increase it’s footprint in the cryptocurrency marketplace, it is a very humbling for someone like Roger to see Monarch and decide to not only become an investor but become a trusted advisor and partner as well. To stay up to date with Monarch Blockchain Corporation be sure to join their Telegram Community Channel of over 27,993+ members at https://t.me/MonarchToken Contact Email Address Beadles@monarchtoken.io Supporting Link https://monarchtoken.io/#download The post PR: Monarch Blockchain Corporation Now Supports Bitcoin Cash in Monarch Wallet appeared first on Bitcoin News. View the full article

People and businesses in need of crypto-friendly banking now have a new service to try. Cashaa is a London-based online platform that recently launched promising one account for old and new money. Its products are targeted at those who are underserved by traditional financial institutions. Also read: Coin Time Machine Estimates Profit From Crypto Investments You Could Have Made Cashaa Offers Startups Banking and Crypto Payment Services Opening a first bank account can be problematic for young companies in many jurisdictions around the world. The business accounts offered by Cashaa are designed for small and medium enterprises and startups registered worldwide, not only U.K. or EU-based entities. The accounts will allow them to accept both fiat and cryptocurrency payments. Cashaa’s Start plan allows businesses that already have a bank account to add a crypto payment option for their customers. It comes with cryptocurrency conversion up to £1 million and supports deposits and withdrawals in over 200 local currencies, including U.S. dollar, euro, British pound, and Indian rupee. The Standard plan offers a U.K. current account plus a free operations account linked with a Mastercard. It also provides crypto storage with easy conversion to fiat and support for local and international transfers. The online bank’s Advance plan is designed for crypto companies. It includes a UK current account, Swift and local payments, linked Mastercard and the ability to issue Iban numbers to customers. Business clients can use Cashaa’s services to accept bill payments including across borders, online payments from customers at checkout and payments in physical locations such as retail shops and restaurants. The platform currently processes bitcoin core and ethereum payments through conversion to multiple fiat currencies. The personal accounts offered by Cashaa provide users with a multisig wallet and the option to buy and sell cryptocurrencies. Leading coins including bitcoin cash are supported and there’s a flat fee of 1.49%. Users are also able to deposit funds via bank transfer in more than 200 countries and withdraw directly in local currency. Bitcoin.com also enables you to purchase BCH and BTC with Visa or Mastercard in both USD and EUR. To learn more about the service, check out the Buy Bitcoin page. Are you using the services of a crypto-friendly online bank? Tell us in the comments section below. Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their 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 third party content, goods or services mentioned in this article. Images courtesy of Shutterstock. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post Crypto-Friendly Banking Platform Cashaa Offers Personal and Business Accounts appeared first on Bitcoin News. View the full article

India’s central bank, the Reserve Bank of India (RBI), has unveiled its framework for a fintech regulatory sandbox. While blockchain and smart contracts are welcomed, the bank stated that cryptocurrency and related services “may not be accepted for testing.” Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request RBI Welcomes Blockchain Tech The RBI published its draft framework for a fintech regulatory sandbox Thursday. The central bank explained that one of the recommendations the inter-regulatory fintech working group, which it set up in July 2016, came up with is to introduce a framework for a regulatory sandbox (RS). The RBI clarified that this framework includes “a well-defined space and duration where the financial sector regulator will provide the requisite regulatory guidance, so as to increase efficiency, manage risks and create new opportunities for consumers.” The central bank proceeded to provide a list of innovative products, services, and technology which could be considered for testing. In addition to money transfer services, digital KYC, digital identification services, AI and machine learning applications, the list includes smart contracts and “applications under blockchain technologies.” The working group included representatives from the RBI, the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority, the Pension Fund Regulatory and Development Authority, the National Payments Corporation of India, the Institute for Development and Research in Banking Technology, select banks and rating agencies. Crypto Excluded From Sandbox While noting that some entities may not be suitable for the sandbox “if the proposed financial service is similar to those that are already being offered in India,” the RBI noted an exception. Applicants that “can show that either a different technology is being gainfully applied or the same technology is being applied in a more efficient and effective manner” may be considered for the sandbox, the bank described. Nonetheless, it continued with “An indicative negative list” of products, services, and technology “which may not be accepted for testing.” This list includes cryptocurrency, crypto assets services, crypto trading, crypto investing, as well as settling in crypto assets. It also includes initial coin offerings and “any product/services which have been banned by the regulators/Government of India,” the central bank wrote. RBI’s Unchanging Stance Toward Crypto India’s central bank has never been a fan of cryptocurrency. It issued a statement in December 2013, cautioning crypto “users, holders and traders … about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to.” The bank issued another statement in February 2017, advising the public that it had not given any license or authorization to any entity or company dealing in cryptocurrency. It followed up with another statement in December of the same year, reiterating its concerns regarding the “risk of virtual currencies including bitcoins.” On April 5 last year, the RBI published a statement on Developmental and Regulatory Policies, affirming that cryptocurrencies “raise concerns of consumer protection, market integrity and money laundering, among others.” The following day, the central bank issued the infamous circular banning all regulated entities from dealing in cryptocurrencies or providing services to any person or entity dealing with cryptocurrency. Affected services include maintaining accounts, registering, trading, settling, clearing, lending, accepting cryptocurrency as collateral, opening accounts of exchanges dealing with cryptocurrency and transferring money in accounts relating to purchase or sale of cryptocurrencies. The ban went into effect in July last year and a number of industry participants have filed writ petitions with the supreme court to lift the ban. The court is expected to hear the case on July 23, after repeatedly postponing it. Do you think the RBI should allow crypto startups to participate in India’s regulatory sandbox? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post RBI Excludes Cryptocurrency From Indian Regulatory Sandbox appeared first on Bitcoin News. View the full article

Over the last few weeks, bitcoin cash (BCH) and the network itself have been shining brightly after a year of bearish sentiment and the blockchain split last November. Most notably, this month BCH has shown a significant increase in daily transactions, the price has doubled, and today the network has produced the second highest value of onchain transactions settled in the last 24 hours. Also read: Strong Evidence Suggests a Single Entity Mined More Than 1 Million Bitcoin Bitcoin Cash Network Processes More Onchain Value Than Most Blockchains Bitcoin cash has been on a tear lately and it’s not just the markets that have seen significant improvements. The network itself has shone greatly this month by processing a lot more transactions per day and settling roughly $940 million in onchain value over the last 24 hours. The only cryptocurrency ahead of BCH today is bitcoin core (BTC). BCH has processed 2x more onchain transaction value than ETH and 4x more than LTC. This has been a consistent trend ever since BCH doubled in price not too long ago. In addition to the onchain settlement, cryptocurrency exchanges have been swapping a lot more BCH than they had months prior. Exchanges like Hitbtc, Binance, Coinbene, Lbank, Coinbase, and Huobi are contributing to the $1.2 million in global trades swapped in the last day. Bitcoin cash has also consistently captured the sixth most traded coin by exchange volumes within the entire cryptoconomy for a few weeks in a row. The BCH network has confirmed roughly $940 million in onchain value over the last 24 hours. After the blockchain split in November, we mentioned in our Q1 BCH markets and network report that the Bitcoin Cash hashrate was recovering after the overall hashrate dropped below one exahash per second in the middle of December. At the time, news.Bitcoin.com detailed that BCH miners were processing 1.8 exahash per second at the end of Q1. Since that report was published, the hashrate has continued to climb significantly. The Bitcoin Cash network hashrate has increased rapidly to roughly 2.5-2.78 exahashes per second every 24 hours after sinking below 1 exahash in December 2018. According to Coin Dance BCH statistics, miners have gathered 2.5-2.78 exahashes per second on a daily basis. Moreover, since the price doubled, the profitability between mining BTC and BCH has leaned more toward the BCH side in the last three weeks. Meanwhile, unlike other cryptocurrencies that see their fees rise when the price per unit spikes, BCH network fees are still incredibly cheap. At the time of writing it is 188.95x more expensive to transact on the BTC chain. BCH/USD 30-day statistics. Increased Transactions and Development There’s been an increase of BCH usage since the price jumped 91% as there’s been a great number of new projects lately pushing real-world use. The BCH network has seen daily transaction data also increase significantly at the end of March and during the first two weeks of April. On various occasions this week the total number of BCH transactions per day has surpassed coins like dash, litecoin, and dogecoin. The data for Thursday, April 18 according to Fork.lol shows that the BCH chain processed 41,852 transactions in the last 24 hours and around 1,750 per hour. BCH transactions per day top dash, doge, and litecoin. As mentioned above, there’s been a lot of development lately within the BCH ecosystem and this has contributed to the increase in onchain transactions. There’s the influx of SLP tokens and some of the latest tokens are now held on exchanges with real-world value. The micronation of Liberland’s SLP token, merits (LLM), has a market valuation of $952,253 at the time of writing. Moreover, BCH enthusiasts have made hundreds of SLP tokens onchain and users have been trading these coins for fun. Lots of other development has taken place with projects like Badger Wallet, the Last Will Platform, Cashshuffle, Blockupload, Crescent Cash, Bchgallery, Menu.cash, SLP Lode Runner, Neutrino, Lazyfox, and Taskopus. Cashshuffle has been very popular and there was a total of 2,027 BCH ($622,289) shuffled according to statistics recorded last week. Furthermore, BCH supporters are looking forward to Schnorr Signatures this May. Between Schnorr, Neutrino, and Cashshuffle, the BCH network will be packing a whole lot of privacy protocols. Many BCH supporters have been using Cashshuffle since it was launched on the Electron Cash wallet. The application will also be ported to the Bitcoin.com Wallet soon which will add more liquidity to the platform. Additionally, the BCH application Cointext, an SMS-powered BCH wallet that enables permissionless access to borderless cash by allowing people to text bitcoin cash to any mobile phone, is now supported in 42 countries. Overall, across social media and forums, most BCH fans are pleased with the market and network achievements over the last few weeks, deeming these metrics a lot more meaningful than the vitriol that various cryptocurrency factions have expended on Twitter lately. What do you think about the bitcoin cash network and market activity lately? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, @tracyspcy, Bitinfocharts.com, Coin Dance Cash, and Markets.Bitcoin.com. Now live, Markets.Bitcoin.com. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today. The post Statistics Show Bitcoin Cash Is a Strong Contender After Crypto Winter appeared first on Bitcoin News. View the full article

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Some great news today for all crypto-holders and investors: top crypto-lending platform MoneyToken has just released a unique VIP Customer Service Program for major asset holders and institutions. MoneyToken’s VIP clients gain exclusive access to their own Personal Manager who will provide them with a 24/7 high-quality service and access to a list of benefits not found anywhere in the crypto lending world. This service has been specifically created to cater for busy asset holders that don’t have time to constantly manage their assets alone. If the client is busy or doesn’t have time to effectively manage his/her assets, managers will take all asset management issues, saving your time and efforts. With this, MoneyToken becomes the only crypto lending platform that offers a VIP level of customer service, at a global scale. Presenting a whole new level of client service to the crypto lending market, MoneyToken makes VIP service free of charge for those clients, whose assets exceed $50,000 and making it more than affordable for smaller assets with $300 monthly fee. Through the MoneyToken VIP Service, clients gain access to the following list of exclusive features: 1. Lending services With access through your VIP account to MoneyToken lending services, you can borrow credit funds using your crypto assets as a collateral. Or you can safely and securely lend your assets through MoneyToken and receive daily interest revenue by getting your investments to work for you. 2. Crypto assets and collateral trading This is a pure crypto lending innovation: with full control over your assets, you are able to make collateral trading and account operations with the help of your Personal Manager at any time and from any location. 3. Short selling For experienced traders who hold a VIP account with MoneyToken, use short selling to earn money on the volatile cryptocurrency market: if you foresee rises and falls in the market, you can consult your Personal Manager and look for ways to benefit from upcoming potential price changes. 4. Hedging Hedging is a series of complex actions implemented by experienced traders and investors to lower the risks on their investments. You can convert your assets to fiat or stablecoins to protect them from sudden price falls. This includes futures, short selling and perpetual swaps – all of which can be effectively implemented with the assistance from your Personal Manager. 5. Private token sales All VIP clients get immediate access to closed private token sales; it gives clients the ability to make smart investment decisions and benefit for the significant discounts that private sales can offer. 6. OTC services A great option for VIP clients to quickly convert their crypto-assets into fiat currency with no additional hassle, fees or transaction limits. Focus on what you need and leave your day-to-day asset management to the experts in the MoneyToken VIP Customer Service Team. 27/4 Portfolio Access MoneyToken VIP clients have access to their personal portfolio anytime from any location and on any device, with individual 24/7 assistance by contacting your Personal Manager via phone call, email or Telegram. B2B & B2C Management For major crypto-asset organisations, MoneyToken offers the perfect B2B levels of client service. Large asset holders require an individual approach that meets various business demands and that provides a fast, professional assistance. At the same time, the MoneyToken VIP Customer Service account works for the individual asset holder, meeting your individual demands; you can take a vacation or throw yourself into your work, leaving asset management tasks to our VIP Customer Service Team to complete on your behalf. A VIP-level of Customer Service for serious asset holders and a new experience in the cryptocurrency. For more information, go to MoneyToken website. Contact Email Address h.black@iconic.info Supporting Link https://www.google.com/url?q=http://moneytoken.com/?utm_source%3DBitcoin.com%26utm_medium%3Darticle%26utm_campaign%3Dvip&sa=D&ust=1555595272524000&usg=AFQjCNF7Tv8MbK18FE8S5zPWXAn5vPTD_w This is a paid 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 PR: MoneyToken Launches VIP Services for Big Crypto Investors appeared first on Bitcoin News. View the full article

For more than two weeks the dai stablecoin has sat below its $1 peg, and has been trading for roughly $0.97 over the last seven days. This has given concern to the Maker Dao community which has decided to raise the dai stability fee to 11.5% per year. Also read: Exchangewar Lets You Compare Crypto Trading Platforms Maker Community Hopes Increased Stability Fees Will Return Dai to $1 Peg Stablecoins have been extremely popular over the last few years but when the cryptoconomy gets volatile, these assets are prone to slipping from their dollar backing. One such coin that’s overcollateralized with ethereum is the Maker network’s dai, faithfully held its 1:1 ratio with the USD until recently. However, the cryptocurrency has been performing much lower than expected and hasn’t held the $1 ratio since March 26, according to market data. Because of this issue, the creators of the programmatic lending protocol Maker Dao have given the community a few solutions to fix the stability problem. Dai 30-day chart. This week Maker Dao (MKR) token holders, who can be polled to resolve certain issues concerning the dai stablecoin, discussed raising the network’s stability fee. Essentially dai often holds to the 1:1 dollar ratio because it uses a system called the Collateralized Debt Position (CDP), in which people creating dai have to pay into a system that uses overcollaterization and an added stability fee. This means the ratio of ETH collateral needed in order to mint dai is fixed at 1.5:1 at all times. Since the price downturn, however, Maker Dao participants have voted to raise the stability fee to 11.5% per year. Essentially, CDP owners need to pay down their debt to obtain their locked ETH collateral but must also pay a stability fee. Once a debtor pays off the CDP loan plus the stability fee (the fee can only be paid in MKR), the collateralized ETH will be freed from the contract. “Signal your support for a 4% increase to the Stability Fee,” explains the Maker Dao’s poll boards. “Vote for this proposal to signal your support to increase the Stability Fee by 4%, bringing it to 11.5% per year.” After Previous Fee Hikes the Latest 11.5% Increase Per Year Ratified On April 11, the 4% increase proposal was ratified with 50,844.75 MKR according to the poll dashboard. The main reasoning for the stability fee price hike was “exchange price persists below $1,” and “high inventory levels among market makers and prop desks.” Moreover, it is believed there will be “little attributable impact” from the previous increases. Back in February, MKR holders increased the fees twice by 0.5% each time, and then in March, the community added another 6%. The impact of these fractional increases did not muster enough strength within the markets to restore the 1:1 dollar peg. If the increase to 11.5% doesn’t help dai’s stability then concerns as to the asset’s viability will mount, especially if crypto markets continue to stay volatile. The issue is not limited to the dai stablecoin either, as even stablecoins that are reportedly backed by real dollars have seen ups and downs during times of extreme turbulence within the cryptoconomy. Dai tokens themselves are very dependent on excess collateral but if the price of ethereum (ETH) suddenly crashed, critics have said this could raise issues. However, ETH’s price has seen rapid appreciation recently and the increasing dai supply by 3.02 million has shown investors are still making draw actions. Most of the stablecoins backed by fiat have been in the ecosystem for quite some time, but despite this, some cryptocurrency proponents don’t trust stablecoins. Years ago, investors in nubits (USNBT) thought that each token would remain pegged to the USD, and it did up until June 9, 2016. Anyone holding nubits today would be lucky to get $0.06 per USNBT. What do you think about MKR token holders voting to increase stability fees so much over the last two months? Do you think raising the fees will restore the 1:1 peg with the U.S. dollar? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Pixabay, Maker Dao and Dai logos, Etherscan, and Markets.Bitcoin.com. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Markets.Bitcoin.com, another original and free service from Bitcoin.com. The post Maker Community Votes to Raise Stability Fee as Dai Struggles to Hold $1 Peg appeared first on Bitcoin News. View the full article

Lithuania, one of the Baltic tigers that has in past few years demonstrated it doesn’t shy away from new technologies and the digital economy, is preparing to introduce stricter rules for crypto companies. The government in Vilnius is working on amendments that according to officials will go beyond the requirements of the latest, fifth EU Anti-Money Laundering Directive. Also read: Online Bank Mistertango Offers Crypto Companies Multiple Accounts and Ibans Going Beyond What Brussels Wants The former Soviet republic, which became one of Europe’s major crowdfunding hotspots, a real token economy hub, is going to implement legal changes that are likely to burden companies in the crypto and fintech sector with more obligations. They are part of the efforts of Lithuanian authorities to step up control over virtual currencies and increase oversight of the economy built around them. Under the new rules, only entities registered with the country’s Center of Registers will be allowed to operate with digital assets in Lithuania. These companies will have to adopt comprehensive know your customer (KYC) and anti-money laundering procedures. According to the draft, the measures will have to be implemented upon establishing a relationship with a client for the first time. Service providers will be expected to inform the Financial Crime Investigation Service (FCIS) about larger transfers. The requirements will cover not only operations involving fiat money but also crypto-to-crypto transactions. Companies that act as intermediaries in these deals will be responsible for ensuring compliance with Lithuania’s Law on the Prevention of Money Laundering and Terrorist Financing. That means they will be required to check the identity of their clients before providing any services. Sigitas Mitkus, director of the Finance Ministry’s Financial Market Policy Department, explained the government’s intentions: “We want to create a transparent legal environment for virtual currency exchanges, depository wallet operators and ICO initiators. We also want to contribute to ensuring better consumer protection.” Speaking to the BNS news agency, he emphasized that by introducing certain limits for financial operations, Lithuanian authorities are going further beyond the fifth EU Anti-Money Laundering Directive (AMLD 5). “We will probably become the first in the world to implement the FATF [Financial Action Task Force] recommendations and apply the requirements not only to the conversion of virtual currency to traditional ones and vice versa, but also when converting one virtual currency into another,” added the Finance Ministry official. Prepared for Regulatory Challenges To better understand how the upcoming regulatory developments will influence crypto-related business in the Baltic country, news.Bitcoin.com spoke to Vytautas Karalevičius, founder of the Lithuanian fintech company Bankera which is currently working to establish an online bank and offer crypto-backed loans. He is also the CEO of its subsidiary Spectrocoin, a platform that provides cryptocurrency wallet and exchange services. Karalevičius admitted that the new regulations will directly affect the cryptocurrency brokerage he is in charge of. The company has been on the market for six years and is considered a success story within the country’s fintech industry. During that time, Spectrocoin has attracted nearly a million customers and created jobs for over 100 professionals. Despite the need to adapt further, Karalevičius and his colleagues believe their companies are well prepared for the changes. “Since we act as a link between crypto and fiat currencies, KYC and AML procedures have been important for us from day one,” he said. The executive thinks regulation is a necessity in the Lithuanian cryptocurrency sector and he is convinced that a stable regulatory environment is key for the maturity and expansion of his business. Vytautas Karalevičius, whose company has been advocating for the adoption of proper crypto regulations in Lithuania, hopes for clear licensing and operating rules which, in his view, are essential for the growth of all businesses, including those dealing with cryptocurrency. Regulation can significantly decrease fraudulent schemes and eliminate the presumption that cryptocurrencies are a primary haven for illegal activities, he noted. According to Karalevičius, the unclear regulatory environment has already caused an outflow of talent and capital from the country, as many Lithuanian teams decided to incorporate their projects in other jurisdictions. He expects the new rules to significantly change the situation in the established crypto sector. “The full impact, of course, will depend on the ability of each industry player to swiftly transit from unregulated activities to full compliance,” he commented. New Law to Affect Lithuanian Customers Not only Lithuanian businesses, but also their clients will likely be affected by the new legislation, Spectrocoin’s CEO noted. If the law is fully implemented as drafted, local residents will not be able to benefit from cryptocurrency services provided by companies based outside Lithuania, as it states that only entities registered in Lithuania will be allowed to serve Lithuanian clients. Estonia, another country in the Baltic region hosting a thriving crypto industry thanks to favorable regulations, recently announced its own plans to tighten the licensing regime for companies working with digital assets. One of the new rules under consideration states that foreign entities licensed in Estonia will have to comply with the requirement to maintain an office there. Spectrocoin has already established an Estonian branch and obtained a license in order to provide services to non-Lithuanian clients. The company is also exploring opportunities to operate from other jurisdictions. Bankera, Spectrocoin’s mother company, was one of the platforms that benefited significantly from the booming crypto market. It raised $150 million with its initial coin offering, which was one of the most successful token sales. Now its founder believes the days of ICOs are gone and not because of regulation but due to the decreasing wealth in the crypto space caused by the diminished price of digital assets. What do you think of the upcoming stricter regulations for the crypto industry in Lithuania and the Baltic region? Share your thoughts on the subject in the comments section below. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post Lithuania to Adopt Crypto Regulations Even Stricter Than the EU’s appeared first on Bitcoin News. View the full article

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. On April 2019, CoinAll, one of the fastest-growth cryptocurrency exchanges, announced the listing of Mindol (MIN). At the same time, a 7-day celebration was launched as well. CoinAll will give away 25,000 MIN tokens during the celebration time. Mindol circulates MINDOL token and establishes market place of “eMINDOL” that provides functions of posting, voting, donation, settlement and copyright management. Besides, Mindol also develops a project of contents creation including animation, game and film productions. Katherine Deng, the general manager of CoinAll, said Mindol project has real use scenes and completed logic of ecosystem building, which perfect meet the CoinAll’s requirement for projects. We will also continue to explore projects with high quality for global users. The 7-day MIN celebration lasts from April 9th, 2019 to April 15th. The whole promotion is divided into 3 parts. First of all, deposit MIN to share 15000 MIN, secondly, buy MIN to share of 6000 MIN, last but not least, follow and retweet first come first served Win 4000MIN. For MIN holders, they can use the contents that MINDOL has produced, of or directly participate in contents creation for anime, manga and film, and invest in their favorite project, and support their favorite idol and participate in various events. In addition, they can make a settlement by the token in the real shops MINDOL cooperates with. The operating policy of Mindol consists four parts. 1, creating an opportunity to use MIN by developing contents and services. 2, enhancing the benefit package in accordance with the holding period according to the increase of holder and its liquidity. 3, implementing dividend payment and buyback from the market. 4, for operating revenue, we invest it in new contents creation and the related business.The MINDOL economy will develop by implementing the cycle of these four parts above. CoinAll is committed to excavating global projects with high quality and potential, with a particular focus on Lambda, Fetch.AI, Bitex and other eco-friendly infrastructure builders. As a deep strategic partner of OKEx, the world’s top exchange, CoinAll shares OKEx’s world-leading security system, 24-hour global customer service, and transaction liquidity, and is devoted to bringing better projects and trading experience to their 20 million users’ community. For more details, please visit: https://www.coinall.com/activity/voteCoin?activeId=465&from=pr Related Links: https://www.coinall.com/ Contact Email Address kana.wen@coinall.com This is a paid 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 PR: CoinAll lists MINDOL and Offers a 25,000 MIN Giveaway appeared first on Bitcoin News. View the full article

With prices of major digital assets constantly in flux, traders need a reliable tool to calculate the value of their crypto holdings in fiat currency. The Price Converter developed by Bitcoin.com is one such instrument that’s accurate and easy to use. Also read: Exchangewar Lets You Compare Crypto Trading Platforms Calculator Provides Conversion Data for BCH and BTC The Price Converter, which is available in the Bitcoin Tools section of the Bitcoin.com portal, supports bitcoin cash (BCH) and bitcoin core (BTC). The calculator gives users real-time rates to convert any amount of BCH or BTC to a preferred world currency. Major fiat currencies are available for reference – U.S. dollar, euro, British pound, Japanese yen, Chinese yuan, Australian dollar, and Hong Kong dollar. The tool also provides traders with the option to access historical price data for both cryptocurrencies. To use this functionality, simply toggle the real-time button off. Then you’ll be able to set a past date and check the price of the respective coin. The Price Converter uses exchange rates from the Bitcoin.com Composite Index (BCX), which is a daily historical price index that tracks the value of bitcoin cash and bitcoin core in U.S. dollars. BCX is a composite of multiple constituent indices and historical values are charted. Bitcoin.com also publishes real-time spot rates for BCH and BTC which are displayed in the top menu of the website. And if you want to be updated about the current prices and market valuations of many more cryptocurrencies, you can monitor the Satoshi Pulse market cap aggregator. Under the calculator tool, you’ll find a link to a dedicated Buy Bitcoin page where you can purchase bitcoin cash or bitcoin core with USD or EUR using a Visa or Mastercard credit card. Have you tried the Bitcoin.com Price Converter? Let us know in the comments section below. Images courtesy of Shutterstock, Smartmockups. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post Get Real-Time and Historical BCH Rates With the Bitcoin.com Price Converter appeared first on Bitcoin News. View the full article