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Bitcoin.com has always been on a quest to promote Bitcoin adoption. Our educational resources, forums, newsdesk, and other services reflect that mission on a daily basis. Now our web portal is introducing a feature called Local Bitcoin Cash, a service that facilitates the peer-to-peer trading of local currency for bitcoin cash (BCH). The new service will be launching soon and users will be able to directly exchange BCH securely and without know-your-customer (KYC) requirements. Also read: This Short Animation Might Make You Think Twice About Taxes Local Bitcoin Cash Over the last few years, cryptocurrencies have grown increasingly popular and those digital assets are far more accessible than they were in the early days. As the industry has matured, Bitcoin.com has grown into an extensive Bitcoin-themed web portal that offers a wide array of resources and services that bolster cryptocurrency accessibility. Now, Bitcoin.com is proud to announce the launch of a new service called Local Bitcoin Cash. The peer-to-peer exchange will be a great resource for the community and will advance our continued mission to promote economic freedom to everyone in the globe by introducing them to the great benefits of BCH. The Local Bitcoin Cash trading platform will have three key ingredients that will make the exchange different to most peer-to-peer exchanges. Firstly, privacy will be of utmost importance and there will be no KYC verification required for Local Bitcoin Cash users. Secondly, the platform will provide end-to-end user side encryption; a system of communication where only users can read and decrypt their messages. Finally, just like our popular noncustodial Bitcoin.com Wallet, the peer-to-peer Local Bitcoin Cash exchange will be secure as the service never touches your funds. Local.bitcoin.com will be launching soon and our readers at news.Bitcoin.com can get on the list to receive early bird notification when the Local Bitcoin Cash trading platform goes live. An Exchange That Bolsters Bitcoin Cash Accessibility The trading platform will allow users to see who’s buying and selling so that “offers” can be considered. Anyone in the world can post a bid to buy or sell BCH and all offers can be filtered by payment method, currency, location, and popularity. There will be a wide array of accepted payments from bank transfers and gift cards so people can purchase and sell bitcoin cash using a variety of payment methods. Once you find a proposal you’re happy with, simply open a trade with anyone on Local.bitcoin.com. Choose the amount of bitcoin cash you want to buy or sell, and then lock the rate in. After the traders reach an agreement they can then make the exchange. Payment details are always discussed using end-to-end encrypted messages. From there, the BCH goes into an escrow account and once the seller confirms payment, the BCH is released from escrow to the buyer. As mentioned above, bitcoin cash adoption and accessibility is one of Bitcoin.com’s primary goals and over-the-counter platforms are some of the most private ways to purchase cryptocurrencies. Moreover, not everyone in the world has access to a local trading exchange so in some countries peer-to-peer platforms are the only way to buy digital assets. A multitude of payment methods also extends crypto penetration even deeper because most online exchanges only offer a few funding options. Local.bitcoin.com will be launching soon and our readers at news.Bitcoin.com can get on the list to receive early bird notification when the Local Bitcoin Cash trading platform goes live. Simply head to the Local Bitcoin Cash portal and click on the button marked “Stay notified.” What do you think about our upcoming service Local.bitcoin.com? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, and Local.bitcoin.com. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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 A Privacy-Focused Bitcoin Cash P2P Exchange Is Coming to Bitcoin.com appeared first on Bitcoin News. View the full article

In this edition of The Daily, we feature a couple of announcements by leading crypto exchanges. Binance starts selling cryptocurrency for cash at newsagent stores in Australia, while Huobi is launching its new token listing platform. In other news, Aeternity and Satoshipay join forces to offer faster crypto micropayments and Nvidia expects to clear mining chip inventory in this quarter. Also read: Crypto Data Feed, BSV Sale, Bitmain Office Closed Binance to Sell Cryptocurrencies at Newsagents in Australia Binance, the world’s leading cryptocurrency exchange by volume, has announced the launch of Binance Lite Australia, a platform that will allow local residents to buy cryptocurrency at more than 1,300 newsagents across the country. Currently, the new cash-to-crypto service supports only purchases of bitcoin core (BTC) with Australian dollars (AUD) but other digital coins and fiat currency options will be added in the future. To acquire the crypto, customers will have to place an order online and then deposit the cash at the nearest newspaper kiosk. But before they can do so, they will have to provide their personal details and pass account verification on the website of the platform, binancelite.com. Verified users will be able to place their orders and receive the coins within minutes, the exchange promised in a blog post. Binance Lite Australia will charge a 5 percent fee for the service. Token Launchpad Huobi Prime to Go Live on Tuesday Digital asset exchange Huobi announced the launch date of its new token listing platform. Huobi Prime will go live next Tuesday, March 26, the company revealed in a tweet this week. The first campaign based on Huobi’s launchpad will be held by a project called TOP Network, which will distribute 1.5 billion TOP tokens among its users in three 30-minute rounds. According to the announcement, Huobi Prime will allow crypto projects to trade their coins immediately in a model described by the exchange as “direct premium offering.” Tokens issued through the platform, which is an alternative to Binance Launchpad, may be listed in the future on Huobi Global and Hbus in trading pairs with USDT, BTC, ETH, and KRW. Aeternity Invests in Micropayment Platform Satoshipay Aeternity, a project developing a blockchain protocol for smart contracts with open code, has acquired a stake in Satoshipay. According to a press release, the deal was sealed during the latest financing round for the micropayment service. Satoshipay will now be able to integrate Aeternity nanopayment solutions and offer its users faster transactions. Axel Springer SE, one of the largest digital content companies in Europe which runs news outlets such as Upday, Die Welt, Bild, and Business Insider, will be among the first users of the new services offered by Aeternity and Satoshipay. Its users will be able to pay for the content with cryptocurrency via the Satoshipay wallet. Nvidia to Clear Mining GPU Inventory Video card manufacturer Nvidia is expecting to soon clear the excess inventory accumulated in anticipation of high demand for cryptocurrency mining equipment. The company believes it will manage to achieve that during Q1 of 2019, according to comments made by its CFO Colette Kress during a meeting with investors in California this past Tuesday, Bloomberg reported. The stockpile of unsold graphics processing components was created when the sales of chips dropped last year following the decline in cryptocurrency prices. What are your thoughts on today’s news tidbits? Tell us in the comments section. 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 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 In the Daily: Coins at Kiosks, Micropayment Solutions, Token Launchpad, GPU Inventory appeared first on Bitcoin News. View the full article

An Indian crypto exchange has launched a program that allows its users to earn interest on their cryptocurrencies held at the exchange. Initially, users can lend BTC, USDT, BNB, XRP, and ETH. The CEO of the exchange has shared details about this new offering with news.Bitcoin.com. Also read: Crypto Enthusiasts Unite in 4 Indian Cities to Voice Regulatory Suggestions Lending Cryptocurrencies Coindcx announced Thursday that its crypto lending program called Dcxlend has come out of the beta testing phase and is now fully launched. Five cryptocurrencies are supported: BTC, USDT, ETH, XRP, and BNB. The exchange’s website currently displays monthly interest rates of 2 percent for BTC, 1 percent for USDT, 1 percent for BNB, 0.75 percent for XRP, and 0.75 percent for ETH. CEO Sumit Gupta told news.Bitcoin.com that BTC has the highest interest rate “because our traders mostly do margin trading in BTC markets (hence high demand for BTC lenders).” The exchange detailed that there are “three lending term lengths: 7 days, 15 days, and 30 days. The interest rate varies dynamically and goes up to a maximum of 2%, according to market dynamics — demand and supply.” Furthermore, its website states that “the cryptocurrencies lent through Dcxlend will be used to provide leverage to users on Dcxmargin,” another service the exchange offers. Gupta shared with news.Bitcoin.com that during the beta testing period with just BTC and USDT, “we had roughly 120 lenders which led to a circulation of 170 BTC on a daily basis.” Claiming that the program has recently garnered more attention from lenders, he remarked, “Hence we’re scaling it up and will keep on adding more coins.” The CEO explained that his exchange has an internal settlement and liquidation mechanism for margin trading which does not have “a dedicated funding wallet,” elaborating: Funds are then lent to the users only when the margin trade is open, with no withdrawal access and hard liquidation with 7.5% maintenance margin. Similar Programs Worldwide In the U.S., Blockfi recently introduced a savings account that enables customers to earn 6.2 percent annually on their BTC and ETH. Meanwhile, regulated bitcoin derivatives exchange and clearinghouse Ledgerx has a program called Ledgersavings which allows clients to earn an implied rate of around 16 percent annually. In Japan, regulated exchange GMO Coin launched a lending program for BTC, BCH, ETH, LTC, and XRP last year. However, at the time of this writing, the exchange is only borrowing BTC but customers can lend between 10 and 500 BTC over 181 days and earn up to an annual rate of 5 percent. Recently-licensed Japanese exchange Coincheck, which was hacked in January last year, also has a lending program for BTC with a maximum annual rate of 5 percent. Prior to the hack, this service supported 12 cryptocurrencies. Bitbank, another regulated Japanese exchange, also offers up to 5 percent interest annually for users lending between 1 and 25 BTC. Besides BTC, the exchange plans to extend the offer to BCH, ETH, LTC, XRP, and MONA. Would you lend your cryptocurrencies to an exchange? Let us know in the comments section below. Images courtesy of Shutterstock. Disclaimer: Bitcoin.com does not endorse or support claims made by any parties in this article. None of the information in this article is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither Bitcoin.com nor the author is 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. Need to calculate your bitcoin holdings? Check our tools section. The post Indian Exchange Launches Lending Program for 5 Cryptocurrencies appeared first on Bitcoin News. View the full article

A Bitcoin Cash (BCH) supporter recently noted that the biggest hindrance to cryptocurrency adoption is tax laws and reporting taxes on digital currency usage. After reading the commentary, Bitcoin.com CEO Roger Ver shared a four-minute video about the subject of taxes in order to spark questions in the minds of people who might not understand what taxes are and why they have hindered the crypto economy. Also read: 5 Popular Crypto ATMs That You Can Purchase Today This Short Animation Teaches About Taxation and Why People Believe it Is Immoral On March 10, the Bitcoin.com Official Youtube channel aired a brief video called “George Ought to Help,” an animated short on taxes and a universal agreement called the Non-aggression Principle. Bitcoin.com’s owner Roger Ver shared the video because a lot of cryptocurrency advocates have been talking lately about how taxation is not helping the crypto economy flourish. In fact, the process is constraining the digital currency industry with old school shackles that don’t fit this technology. The animated short “George Ought to Help” explains the idea of taxation in very simple terms by not leaping to conclusions but by merely asking a few thought-provoking questions. Have you seen the short film “George Ought to Help?” Check it out here today. The video asks you to imagine that you have a friend called George that you’ve known since childhood. However, you two are not as close as you were back when you were children, but you still meet George from time to time and get along very well. But one day while hanging out with George, another mutual friend named Oliver approaches who explains that he’s had a run of bad luck. Oliver details that he’s raising money for tuition fees for his kids and you decide to help Oliver out by giving him some money. George, however, does not offer any help and you try and persuade him but George just won’t budge. The video then asks an important question: Imagining yourself in this situation — Do you think it’s okay to threaten to use physical force against George to get him to do the right thing? In another example, the video asks you to imagine a slightly different situation. In this example, a group of your friends take a vote and 6 out of 10 are in favor of threatening George to get him to help Oliver. Again, another interesting question arises from the situation and the video’s narrator asks: “Does this democratic process make it okay to threaten George?” And with one last change to the concept, the video’s narrator supposes this time that thousands of people have democratically agreed that a group called the ‘agents’ shall do whatever is necessary to take money from George and give it to Oliver’s family. The agents don’t explicitly threaten George at first as all they do is send him a bill. Like everyone else, George knows what will happen if he doesn’t pay the bill. First, he will get more letters demanding payment and the bill will get bigger. Eventually, if he still doesn’t pay, the agents with guns will break into his house and take him away against his will. Almost everyone pays the bills without question because they know that agents are prepared to use as much force as necessary to overpower those who resist. The video’s narrator poses another question to the viewer: Do you think it’s acceptable for the agents to threaten violence against George if he doesn’t give his money to helping Oliver’s family? Bitcoin’s Peaceful and Permissionless Existence Is the Exact Opposite of Compulsory Tax Collection The video further explains that if a forced redistribution of wealth is approved by society then people must also accept that violence made against peaceful individuals is okay. Right now, in nearly every nation state, the use of violence, force, and coercion is how taxes are collected. Most of us feel uncomfortable with making these threats on our own, so with the so-called democratic system, people can accept the process when violence is executed by agents of the state. Over the last few decades, a growing number of people have came to believe that taxation is immoral because it is a form of theft due to its inherent use of threats of violence that transgress against property rights. The animated short “George Ought to Help” shows how enforcing compulsory tax collection goes against society’s underlying non-aggression axiom or the golden rule. Known as the Non-Aggression Principle (NAP), it holds that it is immoral to initiate or threaten force against a peaceful individual’s property, even when a large majority of people vote to use force. However, as a large society, we have found that using ‘agents’ and so-called ‘representatives’ helps people ignore the NAP, because the person doesn’t have to accept responsibility for their actions if they decide to initiate violence. Using the ballot box to enforce taxes is far easier than attempting to collect these funds on your own. Bitcoin allows for peaceful and voluntary trade in a permissionless manner and the idea that regulations and taxation will help bolster the crypto economy is absurd. Compulsory tax collection is the complete opposite of the inherent nature of Bitcoin and the technology’s peer-to-peer innovation. There is a reason taxes and cryptocurrencies mix like oil and water and the four-minute animated film gives a great explanation to why this is the case. People should forget about the complicated process involved with crypto taxes and question the very nature of taxation because to this day the system continues to encourage violence and the use of force against peaceful individuals. Do you want to learn more about taxation, the NAP, and voluntaryism? Check out the links below for more resources including the short animation “George Ought to Help” by Tomasz Kaye. Voluntaryist.com – Fundamentals of Voluntaryism Larken Rose – The Most Dangerous Superstition Larken Rose – The Jones Plantation Video Not Being Governed – An Introduction to Voluntaryism Lysander Spooner – No Treason What do you think about the video “George Ought to Help”? Let us know what you think about taxation and the non-aggression principle in the comments section below. OP-ed disclaimer: This is an Op-ed article. Some of the opinions expressed in this article are the author’s own. Image credits: Tomasz Kaye: Voluntaryist and Creator of “George Ought to Help,” Bitcoin.com, and Pixabay. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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 This Short Animation Might Make You Think Twice About Taxes appeared first on Bitcoin News. View the full article

Borderless isn’t like other decentralized exchanges (DEXs). For one thing, it comes with its own blockchain – or rather the Block Collider chain comes with its own DEX. Throw in the ability to perform cross-chain transfers, block times that are 3x faster than Ethereum and no limits on order size, and Borderless would appear to be markedly different from the competition. News.Bitcoin.com was given a walkthrough of the new DEX, which is due to go live in the next few weeks. Also read: Nash Is a Decentralized Exchange for Cross-Chain Trading With Fiat Integration Welcome to the Multiverse To understand Borderless, it’s necessary to know a little about Block Collider. The project, whose ICO hit its $7M cap in minutes last April (with over $500M pledged) is now operational, with its Multiverse block explorer showing the network’s current state of play. In addition to the shooting stars that occasionally whizz across the screen, there’s a few other peculiarities to the Block Collider network and its Multiverse explorer, whose defining feature is its interoperability. 2019 will see a string of blockchain projects come onstream that promise to eliminate the “walled garden” effect that renders networks incapable of communicating with one another. Cosmos, Polkadot and Block Collider are leading the movement for cross-chain play. Block Collider’s solution is to create a blockchain whose mining algorithm consumes blocks from other blockchains as part of its mining computational challenge. Its website explains: “Miners who submit a bad block as their proof of work will be rejected by other miners and won’t get the block reward. As the difficulty rises, the same incentive framework that strengthens the Bitcoin blockchain will reinforce alignment with miners of the Block Collider.” The project has launched with five blockchains initially – BTC, ETH, WAVES, LISK and NEO – with an unnamed sixth to be added later. Block Collider essentially enables smart contracts on separate networks to talk to one another, which has a number of significant applications, not least when it comes to decentralized token trading. How Borderless Works Borderless by Block Collider is a high-speed DEX that strives for a higher degree of decentralization than, say, Binance DEX. That’s because Borderless doesn’t have validators or centralized oracles to act as gatekeepers. Binance DEX, in comparison, has 11 validators all controlled by the exchange itself. Borderless, which is weeks away from full public release, enables cross-chain transfers between Bitcoin Core, Ethereum, NEO, Lisk, and Waves, has a simple UI that’s easy to use, and no restrictions on order size or trading volume. News.Bitcoin.com caught up with Block Collider co-founder Arjun Raj Jain to learn more about how Borderless works and observe a platform walkthrough. “You simply download the application for either Windows, Mac or Unix,” began Jain. “Then you upload your wallet, but nothing is being stored or sent to a centralized server. When you are uploading your wallet, what you’re doing is just encrypting it locally, so that anytime you then submit a transaction, you don’t have to type in your private key.” Like Nash, Borderless creates a mnemonic phrase upon setup that can be used for wallet recovery. Visually, Borderless looks much like a conventional exchange, with an order book that displays buy and sell orders and market depth. There are some additional settings that are unique to Borderless, however, such as the ability to set the maximum amount of collateral for the trade, which is denominated in NRG, the native currency used to reward miners; the project also has a second currency, emblems. “Emblems allow miners to increase their block size, hence earn more energy, the more emblems that they hold,” said Jain. “So you can think of it as a hedge against your decaying hardware. And it also serves the purpose of the whole debate that Bitcoin maximalists have on what the block size should be, right? So instead of having a fixed size, we thought it would be a lot more interesting to instead have a dynamic block size that is controlled by emblems.” A Blockchain to Control Blockchains To verify the state of each blockchain within the Block Collider network, without reliance on some sort of central entity to oversee matters, Jain explained, “we actually bake that into the proof of work algorithm that the miners are doing where anytime any of the underlying blockchains issues a block, the task of the miners is basically to find a hash that is closest to that. This permits you to be the miner that can release that block, so it’s kind of the same brute force mechanism that Bitcoin miners have to do for proof of work to find a hash that ends in a certain amount of zeros.” He continued: So by combining a proof of work, and then having this capacity to also verify the state of each blockchain, you now have a completely decentralized mechanism to actually know the state of all these blockchains out there. Jain then proceeded to run through the process of placing an order on Borderless exchange, describing settings such as specifying the minimum order fill amount, which could be set at, for example, half of the total order. It’s also possible to specify the amount of time the order should be live for. Should it fail to fill in that time, it will auto cancel and the NRG will be returned to the trader. Borderless is now available to download and trial in safe mode, so users can familiarize themselves with the system, ahead of the exchange going live for trading. When it does, Borderless will face competition from several other DEXs due to launch soon including Binance DEX and Nash, which was also previewed this week by news.Bitcoin.com. What are your thoughts on Block Collider’s new DEX and the other decentralized exchanges on the verge of launching? Let us know in the comments section below. Images courtesy of Shutterstock. Disclaimer: Bitcoin.com does not endorse nor support this product/service. 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 Borderless From Block Collider Is a High-Speed DEX That Unites 5 Blockchains appeared first on Bitcoin News. View the full article

Cryptocurrency ATM operator Värdex Suisse has introduced BCH support to its devices. The company is a financially regulated entity that provides access to digital assets through its teller machines, POS services and partnerships with retailers in Switzerland and abroad. Also read: American Electronics Giant Avnet Now Accepts Bitcoin Cash Payments Bitcoin Cash Available on All Värdex ATMs “Bitcoin cash (BCH) is online and available now on all our ATMs!” Värdex Suisse announced in a tweet on Tuesday. The company claims it maintains the largest crypto ATM network in the Alpine nation. Its website shows 26 ATM locations in major Swiss cities such as Bern, Zurich, Geneva, Basel, Lucern, and Lausanne. The company’s devices support the purchase and sale of three other leading cryptocurrencies as well: bitcoin core (BTC), ethereum (ETH) and litecoin (LTC). Värdex Suisse AG, originally founded as Bitcoin Suisse AG, has been operating independently since 2017 in order to meet the high demand in the retail sector for the kind of services it offers. The company is a member of the Financial Services Standards Association (VQF) and part of the Crypto Valley Zug Community. Värdex also says its mission is to make buying and selling digital currencies “as seamless and easy as a regular visit to a bank ATM.” It is doing that through a number of partnerships, a recent example being the recently announced crypto exchange service offered by Liechtenstein’s post office with the help of the Swiss company. 350 ATMs Across Europe Support BCH Switzerland is one of several countries in Europe that have made efforts to create favorable conditions for crypto companies and blockchain businesses. Its Crypto Valley, centered in the Canton of Zug, has expanded significantly over the last couple of years. It currently numbers about 750 companies including those based in neighboring Liechtenstein. The business-friendly conditions and regulations have catalyzed the growth of the crypto-related services offered in the country. They include payment and teller services providing secure access to digital coins and increasing their mainstream adoption. According to data compiled by tracker website Coinatmradar, there are currently 52 bitcoin ATMs and crypto tellers across Switzerland. Around half of them now support purchases and sales of bitcoin cash. The number of BCH trading devices has been growing in Europe as well, reaching around 350 across the region. However, the Old Continent is still lagging behind the U.S. where almost 1,200 ATMs offer bitcoin cash. Is the number of ATMs supporting BCH growing in your region? Let us know in the comments section below. Images courtesy of Shutterstock, Värdex Suisse. 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 BCH Is Now Supported by a Large Crypto ATM Network in Switzerland appeared first on Bitcoin News. View the full article

IBM claims that six banks will issue stablecoins using its World Wire protocol which is based on the Stellar network. According to the tech giant, three banks have publicly committed to the initiative, and the remainder will reveal themselves soon. The announcement joins the resurgence of blockchain razzmatazz this year that feels eerily similar to the last time distributed ledger technology (DLT) was the cat’s meow back in 2016. Also Read: Bitcoin’s Social Contract Must Be Resilient to the Whims of Future Generations IBM’s Race to Remain Relevant: From the ‘Largest Commercial Uses of Blockchain’ to Private Banks Issuing Stablecoins With JP Morgan’s newly announced coin and Digital Asset replacing Blythe Masters with new CEO Yuval Rooz, it seems blockchain hype is steaming up once again like a warm pile of cow manure. One prime example is IBM recently making headlines when it announced that six banks signed letters of intent to produce stablecoins using the IBM protocol called World Wire. The barrage of IBM’s meaningless blockchain announcements over the years shows the fervor with which the multinational tech firm has tried to remain relevant. A few people might recall the distributed ledger mania three years ago when IBM told the world it planned to launch “the largest commercial uses of blockchain” by September 2016, back when everyone was gaga for enterprise blockchains that have produced nothing but media puffery. IBM Blockchain is just an overpriced, rubbish database used to get a rubber stamp from enterprises that want to be able to tell their investors they’re “blockchain enabled”. Thank you for coming to my Ted talk. — Riccardo Spagni (@fluffypony) March 20, 2019 However, according to IBM’s vice president of blockchain technologies, Jerry Cuomo, and a slew of online publications, the system promised in 2016 was allegedly supposed to free some of the “$100 million in capital tied up at any given time in transaction disputes in the IBM Global Financing unit.” IBM even released a blockchain platform available for cloud developers that looks like a cheesy Javascript copy of the NXT blockchain with a quirky VS Code extension. IBM also started the Open Blockchain Initiative and worked with the Hyperledger project that year. But like the storm of Hyperledger announcements, R3 signing 60 banks, and projects like Citigroup’s ‘Citicoin,’ IBM’s largest commercial uses of blockchain seem to be all fluff. While public blockchains like BCH, BTC, and ETH have settled trillions of notional value in a permissionless manner we should probably ask: What have all these corporate blockchains done in the last few years? The lackluster IBM Blockchain 2.0 beta platform. Media publications are often eager to report on these so-called blockchains but rarely test them or even look at the protocol. Technobabble Blockchains With Zero Innovation Now IBM is using the Stellar protocol and claims that the “IBM Blockchain World Wire makes it possible for financial institutions to clear and settle cross-border payments in seconds.” Reading IBM’s World Wire homepage is like having a horrible flashback to 2016, however, where it’s blockchain mania all over again. The usual reasons stated for utilizing IBM’s blockchain include lowering clearing costs, cheap cross-border payments, and the ledger reduces a lot of time. IBM’s website insinuates that unlike those crazy libertarian bitcoiners, the corporation is willing to work with the current financial incumbents. “Bitcoin mania has led some to believe that banks are no longer needed for secure global money transfer — Banks, however, disagree,” explains IBM’s World Wire website. Of course, the general population and even the media publishing IBM’s blockchain fluff pieces about their quest to secure the globe’s money transfer system only get a gist of what the company wants the public to see. As with most enterprise blockchain projects, it’s all closed door deals and the media gets a technobabble press release about some banks using the platform. Whether it be IBM, Hyperledger, R3, or JPM coin, there’s nothing exciting about these enterprise blockchain solutions. Yet we read about these vacuous initiatives every day in some of the most prominent crypto and financial news outlets. Many of the projects are downright absurd, like when everyone got excited about Bumble Bee tuna products being verified on the blockchain. Private blockchain swaps and financial banks trading stablecoins add nothing new to the table: take away the fancy wrapped DLT packaging and all you’re left with is a generic database. Cryptocurrency advocate Andreas Antonopoulos composed a tweet in 2016 that encapsulated the blockchain hype at the time. ‘Major banks complete first international transaction using a blockchain’ — You mean, the same thing bitcoin has done several million times?” Antonopoulos mocked. The bitcoin evangelist continued: Correction: Banks paid consultants thousands to do once what bitcoin does for pennies every day, thousands of times, better. Right now there are many projects that are permissionless and have an open ledger for everyone to verify. Just because a blockchain project is backed by traditional big name incumbents doesn’t give it an edge over public cryptocurrency systems that have been around for a decade. The DLT-embellished stories large tech companies like IBM and banks like JP Morgan churn out are little more than a feeble attempt to stay relevant. What do you think about IBM’s blockchain attempts over the years and other well known corporations developing enterprise digital ledgers? Let us know in the comments section below. OP-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. 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 information in this Op-ed article. Image credits: Shutterstock, Twitter, IBM Cloud, and IBM logos. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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 It’s 2019 and IBM Is Still Trying to Find a Use Case for Blockchain appeared first on Bitcoin News. View the full article

Silvergate Bank, headquartered in San Diego as a California state-chartered bank, started its cryptocurrency-related business in 2013. Now over 500 companies from the digital assets industry are using its services as one of the very few “bitcoin-friendly” banks based in the U.S. Also Read: American Electronics Giant Avnet Now Accepts Bitcoin Cash Payments Silvergate Files Amended IPO Prospectus Silvergate Capital Corp., the parent of Silvergate Bank, filed an amended IPO prospectus with the U.S. Securities and Exchange Commission (SEC) on March 18 with updated data about its operation. According to the figures presented in the document, the bank’s openness to the cryptocurrency industry has continued to help it with attracting new customers. In total, Silvergate had 542 clients working in the digital assets sector as of December 31, 2018, which is up over 12 percent in three months from the 483 clients it reported as of the third quarter of the year. The bank also already had 232 prospective digital currency customers by the end of 2018, going through various stages of its onboarding process, which includes extensive regulatory compliance due diligence. Exchanges Drag Figures Down Among its 542 clients, Silvergate Bank lists a group of 37 digital currency exchanges, including the five largest U.S. domiciled digital currency exchanges, such as Bitstamp, Circle and Genesis. The second biggest group is 142 companies developing new protocols, platforms and applications; mining operations and providers of other services, including Xapo and Paxos. The biggest group of clients is 363 institutional investors such as hedge funds, venture capital funds, private equity funds, family offices and traditional asset managers, including Kenetic and Polychain Capital. Interestingly, the smaller group of 37 exchanges is dragging down the financial figures in terms of total client deposits that Silvergate Bank reported. As of September 30, 2018 it had $792.9 million in deposits from digital currency exchanges, $572.7 million in deposits from institutional investors and $227.5 million from the group of other companies. By December 31, these client deposits figures changed to $618.5 million, $577.5 million and $273.9 million respectively. What do you think about the latest figures from Silvergate? 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 Bitcoin-Friendly US Bank Silvergate Now Serves Over 500 Crypto Companies appeared first on Bitcoin News. View the full article

At least 87 percent of cryptocurrency exchanges may have falsified their reported trade volumes, a new study claims. According to a review of the top 100 exchanges by analytics company The Tie, most of the trading volume on the world’s largest crypto trading platforms is suspect. Also read: Quadrigacx Co-Founder a Convicted Fraudster Suspicious Trading Volumes “In total we estimated that 87 percent of exchanges’ reported trading volume was potentially suspicious and that 75 percent of exchanges had some form of suspicious activity occurring on them,” the company revealed in a series of tweets on its research findings. “If each exchange averaged the volume per visit of CoinbasePro, Gemini, Poloniex, Binance, and Kraken, we would expect the real trading volume among the largest 100 exchanges to equal $2.1 billion per day. Currently that number is being reported as $15.9 billion,” added The Tie. Trading volumes per exchange vs monthly web visits Manipulation of trading volume data by exchanges has remained an area of concern within the cryptocurrency market. Several factors can artificially grow volume, making it look like there’s demand for a particular digital asset when interest is actually minimal or non-existent. Investors are often lured to exchanges with inflated volumes as that tends to create an element of trust and an impression of liquidity. However, doubts about the integrity of crypto markets could be preventing some professionals from entering the space and prompting closer regulatory scrutiny. Inflated Volumes In its study, The Tie looked at weighted average trading volume per user visit at major crypto exchanges Binance, Coinbase Pro, Poloniex, Gemini and Kraken – averaging $591 – and used similar metrics on other smaller exchanges. The New York-based company indicated that these exchanges were selected on account of their “large usage among institutions, reputation in the market, and because their web viewership appeared consistent with their reported trading volumes.” It found that about 60 percent of exchanges reported volume that was 10 times higher than expected, at least as far as traffic to their websites was concerned. The practice was most prevalent at Bitmax, ZBG, Coinbene, Lbank and BW, the researchers alleged. Binance, Kraken, Coinbase Pro, and Poloniex had expected volume in line with their reported trading volume. Expected real trading volume/Reported trading volume per exchange While website viewership metrics don’t account for API or mobile app trading, they do provide a good basis of comparison across exchanges to identify suspicious reported volumes, explained The Tie. “Our team set out to determine whether volumes reported on cryptocurrency exchanges were genuine. We started by pulling a list of the top 100 exchanges by traded volume over the last 30 days,” the company said. It continued: “We then used Similar Web website viewership metrics to calculate the estimated 30 days traffic to each exchange’s website. After doing this, we divided the reported volume for each exchange by the number of monthly website visits to determine the reported volume per visit.” What do you think about exchanges reporting suspicious trading volume? Let us know in the comments section below. Images courtesy of Shutterstock and The Tie. Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com The post Report: 87% of Crypto Exchanges May Be Falsifying Volume appeared first on Bitcoin News. View the full article

Cryptocurrency markets have seen fresh gains over the last 48 hours and digital asset trade volume has spiked considerably. On Saturday, March 16, the entire cryptoconomy has a valuation of roughly $139 billion and global trade volumes are hovering around $33.7 billion. Also read: Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright After a Long Cold Winter, Crypto Enthusiasts Are Hoping to See the Start of Crypto Spring Is crypto spring or altcoin season starting to bloom? That’s the question everyone’s been asking as over the last week most digital assets have looked bullish. A few months ago the cryptoconomy’s global trade volumes slid downwards showing a lack of market interest. However, over the last few weeks, crypto trade volumes have been steadily climbing and during the last 24 hours, digital currency markets captured $33.7 billion. At the time of publication, the largest market capitalization, held by bitcoin core (BTC), is up today 2.3%. BTC is hovering just above the $4K region at $4,045 per coin and is also up 2.2% for the week. Currently, BTC has a market valuation of around $71 billion and the highest daily trade volume capturing $10.1 billion this Saturday. The second highest valuation is held by ethereum (ETH) and each coin is swapping for $142 per unit. ETH markets are up 3.9% for today and roughly 2.7% for the last seven days. Ripple (XRP) markets sit below ETH and each XRP is trading for $0.31 a token. XRP is up a hair at 1.6% for the last 24 hours and 1.5% for the week. Still holding strong in fourth position is litecoin (LTC), which is up today 4.7% and up over 5.4% for the entire week. Each LTC is swapping for $61 per coin and LTC also holds the fourth largest trade volume today. Lastly, eos (EOS) is up around 3.1% for the day and 1.3% for the week as eos trades for $3.82 per coin on global exchanges. Bitcoin Cash (BCH) Market Action So far, for the entire week bitcoin cash (BCH) prices have been leading the pack as far as the top 10 coins are concerned. BCH is up 15.2% over the last seven days and 10.4% in the last 24 hours as BCH currently trades for $155 per coin. At the moment BCH holds the seventh highest global trade volume above dash and below XRP. Bitcoin cash is the sixth largest market cap today and trade volumes have touched $667 million in the last 24 hours. The top five exchanges swapping the most bitcoin cash are Lbank, Bitmart, Binance, Bitz, and Idax. During the last few market updates, ETH was the dominating pair against BCH but today that position belongs to BTC. At the moment BTC has around 44.2% of all BCH trades and this is followed by USDT (34%), ETH (10.5%), USD (4.7%), and KRW (4.3%). BCH/USD 15-minute Poloniex chart on March 16, 2019. BCH/USD Technical Indicators Looking at the 4-hour BCH/USD chart on Bitstamp shows the Relative Strength Index (RSI) is a bit heavy indicating an overbought position. The two Simple Moving Averages (SMA) trendlines show the 100 SMA is still well above the long term 200 SMA. This shows that the path toward the least resistance is still toward the upside but bulls are meeting resistance at the moment. BCH/USD 4-hour Kraken chart on March 16, 2019. 4-hour trade volumes have been decent this month but there’s still a lot of resistance ahead and a chance of a bearish correction. Looking at the order books ahead shows thick resistance up until the $180 per BCH zone and after that things look a touch easier for bulls. On the backside, consolidation has added some decent support and if bears grab the reins then they will see pitstops around $140 and even more around $125. BCH/USD 30-minute Poloniex chart on March 16, 2019. Tom Lee Predicts Again Traders are still very curious about whether or not the recent spikes really are indications of a blossoming crypto spring. Fundstrat founder Tom Lee is at it again with his predictions and assumes bitcoin will see a genuine rally around August. “If Bitcoin holds above $4,000, it’ll cross its 200-day [moving average] by August, so I think the outside window is five to six months before Bitcoin starts to look technically like it’s back in a bull market,” Lee told CNBC on March 14. “I think it really undermined investor confidence and the dynamics around the market.” Of course, many cryptocurrency traders take Lee’s forecasts with a grain of salt due to his numerous and completely outlandish predictions last year. Moreover, cryptocurrency fans have noticed a bunch of money has been pumping into alternative currencies besides BTC. For instance, markets like stellar, litecoin, cardano, ethereum, and monero have seen considerably larger spikes than BTC markets. Some believe there will be another altcoin season before BTC sees any significant gains and some think that altcoin growth will depend on genuine utility. For instance, bitcoin cash markets have garnered attention for being the forerunner out of the top 10 cryptocurrency market valuations. One cryptocurrency enthusiast remarked on Twitter that perhaps the market is beginning to notice the issues surrounding the Lightning Network scaling approach. “I think Mr. Market has been following the LN controversy and just had an aha moment about bitcoin cash,” tweeted entrepreneur Nate Henderson on March 15. Where do you see the price of BCH, BTC, and other coins heading from here? Let us know in the comments below. Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Images via Shutterstock, Trading View, Bitstamp, Coinlib.io, and Satoshi Pulse. Want to create your own secure cold storage paper wallet? Check our tools section. The post Markets Update: Crypto Prices Show Improvement and BCH Rallies appeared first on Bitcoin News. View the full article

In the first weekend despatch of The Daily, we share some of the exuberance that’s greeted BTC passing the symbolic $4K threshold. We also check up on how the Grin developer fund is going and the progress that Cryptopia exchange is making in returning to full strength in the wake of its hack. Also read: Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright Traders Bullish as Bitcoin Passes $4K and BCH Soars Having flirted with the price point for a few days, BTC finally mustered up the courage to ease into $4,000 territory early on March 16. Crypto twitter had a lot to say about this miniature milestone, which marked BTC’s first return to high ground since Feb 24. “Crypto Thies” proclaimed there to be a three-week buy signal, the first since October 2016, when BTC was at $500. BCH 24-hour chart. Not everyone was getting carried away with BTC’s latest price point, given its previous failures to hold this position. Nevertheless, given the major moves from scores of altcoins over the past fortnight, coupled with BTC’s more modest overnight gains, there’s confidence clearly returning to the crypto markets. BCH has been the best performing top 10 coin over the last 24 hours, however, climbing 15 percent to reach $155. Poloniex Makes First Grin Donation In addition to enabling grin withdrawals, Poloniex has announced that it’s made good on its previous pledge to support the Grin developer fund. 50 percent of trading fees from the first month were committed to the Grin General Fund, followed by 25 percent for the next 11 months. Poloniex elected to do so on the basis that “we believe in supporting crypto projects which encourage distributed voluntary development and fair, decentralized methods of token distribution.” The first donation has seen 1.27864 BTC go to the Grin fund to support further development of the Mimblewimble privacy coin. Cryptopia’s coin info page Cryptopia Inches Closer to Full Service Cryptopia has updated its customers on the progress it’s making in restoring hundreds of altcoin wallets. Since suffering a major hack in January that claimed close to 10 percent of its crypto, the New Zealand-based platform has been slowly but steadily getting back on track. It’s now established a coin info page, displaying the status of the altcoins whose wallets it’s restoring. Traders will be relieved to learn that animecoin is now active, though they’ll need to wait a little longer to deposit and withdraw asiacoin. The exchange also took the time out to reflect on the local Christchurch shooting. Despite our own issues, as a Christchurch company, our thoughts are with everyone affected by the recent shootings. — Cryptopia Exchange (@Cryptopia_NZ) March 15, 2019 What are your thoughts on the stories in today’s news roundup? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post In the Daily: $4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return appeared first on Bitcoin News. View the full article

A community roadshow has been uniting crypto enthusiasts in several cities in India to share their ideas on the country’s crypto regulation. “The best ones will be included in the report to be submitted to the decision makers amongst the government,” the organizer of the events explained. Also read: Indian Government Confirms Cryptocurrency Regulation in Final Stages Uniting Crypto Enthusiasts Blockchained India has been hosting a series of roadshow meetups in a number of cities in the country where it has chapters. The theme of the meetings is “Does India need crypto regulations?” These events are part of a run-up to the group’s larger event called the “India Dapp Fest” which is planned for May. There are four open town hall meetings altogether. One is being held on March 16 in Hyderabad. Two have already been held: one in Delhi and the other in Mumbai. The fourth meeting in the series will take place in Bangalore on March 30. Manav Ailawadi, a key member of the group, was quoted by Crypto News India on Friday as saying: So far, everything that has been happening on a national level (for crypto) has been about cryptocurrency exchanges, primarily. We wanted to unite the community which also includes, investors, stakeholders, developers, and make them a part of the conversation. Blockchained India co-founder Akshay Aggarwal tweeted on Friday that “The intentions with this roadshow are pure. We want to help the good folks hustling day and night from the crypto space.” He has urged the community to join in on the roadshow and voice their opinions regarding the crypto regulation in India. On March 6, he tweeted: … it’s time for you all this Saturday to share your opinions around whether India needs crypto regulations. The best ones will be included in the report to be submitted to the decision makers amongst the government. Aggarwal told news.Bitcoin.com earlier this month that people who are unable to attend the meetings physically are emailing his organization their ideas so they can be included in the report to be submitted to the government. Mumbai Event At the Mumbai event last week, Crypto News India reported that approximately 100 people and between 70 and 80 founders from crypto exchanges and other crypto-based companies attended. In addition, there were lawyers, investors, marketers, and researchers at the event, Ailawadi told the news outlet. Crypto enthusiast Aman Kalra tweeted on March 10 after speaking at the Mumbai event that he shared his views “on possible regulations around crypto in India and how we as a community can contribute to it.” He elaborated, “It was great discussing all of this with our energetic community.” ‘India Wants Crypto’ Campaign The CEO of cryptocurrency exchange Wazirx, Nischal Shetty, also spoke at the event in Mumbai. He started a Twitter campaign on Oct. 31 last year calling for positive crypto regulations. The campaign has entered its 135th day. According to Aggarwal, Shetty explained to event attendees: “We didn’t select the RBI but the ministers who are supposed to make the decisions for us. Humbly I started Indiawantscrypto campaign tagging the ministers we selected, hoping someday they will notice us.” The Indian government is currently drafting the regulatory framework for cryptocurrencies. On Feb. 25, the country’s supreme court gave the government four weeks to come up with crypto regulation. The court will then hear the petitions against the crypto banking ban by the country’s central bank, the Reserve Bank of India (RBI). What do you think of these meetings? What opinion would you voice to the Indian government? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Crypto Enthusiasts Unite in 4 Indian Cities to Voice Regulatory Suggestions appeared first on Bitcoin News. View the full article

The decentralized web is hard to use, complain its critics. And to be fair, they’ve had a point up until recently. With improved UX and new layer two solutions built on top of Web3 protocols, however, interacting with these technologies is getting easier. This is particularly evident in the case of prediction markets, where new features from Guesser and Veil have opened up these services up to a wider, less technically accomplished audience. Also read: Cboe Discontinues Bitcoin Futures for Now Decentralized Prediction Markets Keep Getting Better “What will be the market capitalization of Cosmos Atoms (ATOM) in USD on April 30, 2019?” asks Veil. “Will a second referendum on Brexit be announced in the UK before 29 March 2019?” ponders Guesser. Technically these markets originate on Augur, but people are increasingly now placing their bets via secondary services that bolt a user-friendly interface onto Augur’s protocol and simplify the betting options. Guesser’s recently introduced Bet of the Week has been going down well – this week’s question was “Will the base price announced for the Tesla Model Y be $39,000 (USD) or lower?” Bettors who went with over, at odds of 1.26, were vindicated. The only significant downside to Augur-based markets, including Guesser, is the length of time it takes for them to resolve. Last week’s featured Guesser bet, for example (“What will the total value locked in Defi be on Monday March 11, 15:00:00 UTC, according to defipulse.com?”) is still awaiting results, even though its outcome is not contentious. How to Create Your Own Prediction Market Creating an Augur-based prediction market got significantly easier this week thanks to Veil’s new interface that removes much of the complexity. Users can potentially earn revenue when people participate in their market by placing a bet. The process works as follows: Choose whether to create a binary (yes/no) or scalar marker (one with a range of values). Create a draft market. Be sure to include clear rules regarding scenarios that will determine its outcome. Publicly share the market, while it is still in draft form, to generate interest in it prior to activation. Activate the market. This calls for making a deposit in ETH and in REP, but Veil can automatically exchange the former for the latter using Uniswap for convenience. Report the outcome of the market once the event has concluded. “Start by creating a draft market for free,” urges Veil, “then see if the community is interested in betting in it. If they are, activate it and get paid when people participate.” To help keep track of draft markets proposed using Veil, a Twitter bot has been set up. Newly devised markets cover Donald Trump, cryptocurrency price predictions, sporting events, and music releases. A World of Predicting Possibilities The number of users of Augur and of the third party markets that connect to it remain low, as does the maximum stake that can be placed. With virtually zero geographical restrictions on who can participate however – a Metamask wallet and an email address is all it takes – the barriers to access are low. Moreover, while the majority of markets currently revolve around simple bets that make Augur little more than a decentralized sportsbook, in future its potential use cases could expand significantly. As Ben Davidow notes in “The Three Powers of Augur,” the market “can be used to hedge risk or insure against undesired outcomes and thus prepare for the future.” He also opines that it could one day be used for things like “filtering out fake news, and creating accountability for public figures.” Just as people are still discovering new applications for Bitcoin, 10 years on, it’s same to assume that decentralized prediction markets will gain significant utility and usability in the months and years to come. Have you tried using Augur, Guesser or Veil? Let us know in the comments section below. Images courtesy of Shutterstock. Disclaimer: Bitcoin.com does not endorse nor support this product/service. 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 How to Create Your Own Decentralized Prediction Market appeared first on Bitcoin News. View the full article

On March 15, well-known Bitcoin developer Jeff Garzik revealed he was subpoenaed by the U.S. District Court of Southern Florida in the infamous Kleiman vs Wright bitcoin lawsuit. The Kleiman family is suing the self-proclaimed Satoshi for roughly 300,000 BTC and Garzik has been served by the court and asked to submit assorted documents and possible evidence that would be relevant to the case. Also Read: Satoshi’s Pre-Release Bitcoin Code Contains Fascinating Findings The Kleiman Estate Wants Jeff Garzik to Reveal Anything He Knows About Satoshi, David Kleiman and Craig Wright The Kleiman estate and David Kleiman’s brother Ira Kleiman believe Craig Wright defrauded David and manipulated his assets. Some people believe that David Kleiman (deceased) may have been the creator of Bitcoin and the estate thinks he is owed about 300,000 BTC ($1.1 billion) from a trust that allegedly has 1 million BTC locked until the year 2020. News.Bitcoin.com recently reported on Wright’s response to the billion dollar lawsuit after Judge Beth Bloom denied his attempt at dismissing the charges. Now the early Bitcoin adopter and developer Jeff Garzik is involved with the lawsuit as he announced he’s been served with a subpoena to appear in court. The subpoena stems from the Kleiman’s council and asks Garzik to submit any evidence to the theory that David Kleiman was Satoshi Nakamoto. “You got served,” Garzik exclaimed on Twitter. “The Bitcoin lawsuit drones on. In the interest of radical transparency, here’s the subpoena that just arrived for me (sans page 1).” The subpoena also asks for any communications between Garzik and Wright and whether he had any direct communications with Kleiman. The plaintiff’s counsel is in search of any documents that stem from David Kleiman, W&K Info Defense (Kleiman and Wright’s company), and any communications with an individual called Uyen Nguyen. The request also asks for any communications between Garzik and the pseudonym or moniker Satoshi Nakamoto and any evidence that is tied to the “Tulip Trust” or “GISCR Trust.” The subpoena also refers to the search for subjects like early bitcoin mining between Jan. 1, 2009 through April 2013. Other subjects include any documents tied to Mt. Gox, Silk Road, Liberty Reserve, and the Prometheus Project. The documents ask about communications between well known figures like cryptographer Ian Grigg, writer Andrew O’Hagan, and billionaire gambling tycoon Calvin Ayre. Garzik’s Personal Theory Wright and his council have denied the allegations against him and said the oral partnership between Wright and Kleiman was barred by the statute of frauds. “There was no written partnership agreement between Dr. Wright and David Kleiman and/or W&K Info Defense Research, LLC,” Wright’s attorney’s detailed in the 36-page response to the charges. Meanwhile, Wright has been telling the public throughout many published tweets and memoirs how he was involved with the creation of Bitcoin. In the 14-page request to Garzik it seems the Kleiman estate and council want to know everything the developer may have come across over the years. The request also mentions a Bloomberg article that talks about Garzik’s “personal theory” about David Kleiman. In the article Garzik states: “My personal theory is that [Satoshi Nakamoto] is the Floridian Dave Kleiman. It matches his coding style, this gentleman was self-taught. And the Bitcoin coder was someone who was very, very smart, but not a classically trained software engineer.” This specific quote has led the Kleiman estate to believe that Garzik may know more about the relationship between Wright and Kleiman or have clues about David’s possible connection to the infamous Nakamoto. What do you think about the subpoena sent to Jeff Garzik? Let us know what you think about this subject in the comments section below. Image credits: Pixabay, Twitter and Scribd. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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 Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright appeared first on Bitcoin News. View the full article

Over the last few weeks, Bitcoin Cash (BCH) fans have been creating and sharing a bunch of customized Simple Ledger Protocol (SLP) tokens. There’s now a Telegram tip bot, a Twitter tip bot, Badger wallet logo integration, and SLP token support on the payment platform Bchpls.io. Also Read: Satoshi’s Pre-Release Bitcoin Code Contains Fascinating Findings Sharing Spice Tokens on Telegram and Twitter At the end of February, news.Bitcoin.com reported on BCH token development kicking into high gear and the pace hasn’t stopped since. People have been creating unique tokens using the SLP software with names like dragon ball, steam cash, nazgûl, wonton, crown coin, and someone’s made tokens for about 20 of the most popular cryptocurrency networks as well. BCH proponents have also participated in a social experiment and ‘torch passing’ ceremony that used a single non-divisible token called the SLP Torch. People sharing spice tokens in the Coinspice chat room using Telegram. More recently, however, BCH developers have created a Telegram tipping bot that can tip SLP tokens to users within the hosted channel. The cryptocurrency news outlet Coinspice and its associated Telegram channel implemented the tipping bot so people can tip one another in spice tokens. The user simply @’s the Telegram bot called ‘Spicetokens’ and gives them a command to tip a user a number of tokens. Scrolling through the Coinspice channel of 397 members shows the Spicetokens bot is very active. The bot is also available on Twitter and some users have been sharing spice tokens across a few Twitter threads. Badger Begins Integrating Token Logos and Icons for the Nonprofit Eatbch On March 14, Badger wallet developer Gabriel Cardona explained that the latest version of Badger has been released and version 0.4.2 has integrated official token icons for certain tokens like spice, wonton, and the SLP Torch. Cardona detailed that if someone has created a token or a service that has implemented the Badger Button they can contact him and submit a logo. The wallet developers have also added Eatbch Venezuela and Eatbch South Sudan icons to the client. So any time a user donates funds to these specific addresses they will see the Eatbch logos within the wallet’s transaction log. Bchpls.io Payment Platform Adds SLP Token Support In May of 2018, news.Bitcoin.com reported on the point-of-sale (PoS) service Bchpls.io which allows brick n’ mortar and online merchants to accept BCH in a noncustodial fashion. The application is free and there are no servers needed as all it takes is an internet connection and two devices (cashier and customer) to utilize the Bchpls system. On March 13, the Bchpls developer announced the platform now supports SLP tokens and released a video demonstration of the feature in action. Overall, the use cases and the ideas tied to all the tokens created so far have been getting more robust over time. With Telegram and Twitter bots and the latest Bchpls support, applications like these will likely add a lot more real-world use to the BCH token economy. With the community discussing these tokens and creating an abundance of fun coins to share, it seems BCH supporters appreciate the coin creation concept and the possibility of a thriving token economy. What do you think about the SLP token Telegram and Twitter bots and the latest Bchpls support? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Badger, Gabriel Cardona, SLP, Bchpls.io, and Coinspice. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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 Bchpls.io Platform and a Telegram Tip Bot Now Support SLP Tokens appeared first on Bitcoin News. View the full article

Venezuelans are having a difficult time as the country’s power grid shut off on March 7, leaving the majority of Venezuelan states with no electricity for well over a week. According to reports on March 14, electricity has been restored throughout most states within the country. However, during the week-long blackout, bitcoin trades on the peer-to-peer exchange Localbitcoins plummeted by 40 percent. Also Read: Satoshi’s Pre-Release Bitcoin Code Contains Fascinating Findings Venezuelan Infrastructure Remains in Dire Straits The Venezuelan people have been suffering for quite some time as the nation’s inflation rate has crossed a whopping 2,688,670 percent as of January 2019. The Venezuelan fiat currency, the bolivar, is basically worthless and there are many pictures of banknotes strewn across the streets within the capital of Caracas and other areas. To make matters worse, on March 7, the country lost electricity during a severe blackout. Much of the region’s telecommunications system seized as well, making it difficult for individuals within the country to communicate to the outside world. Despite electricity being restored, Venezuelans are having a hard time finding clean water as household faucets are spewing a black oily substance. On March 14, reports stemming from the Venezuelan Information Minister Jorge Rodrigues detailed that power was “100 percent restored.” However, the nation’s citizens are still searching for clean drinking water as residents of the country are complaining of oil-contaminated black water coming out of their faucets. On March 13, a blog post titled “Synthesis of a ‘Blockout’” emphasized that Venezuelan residents right now have no choice but to look to the country’s polluted riverways for water. Venezuelans in search of water are forced to use the liquid in the country’s riverways. “The lack of drinking water has bottomed out in the most popular sectors of the ‘great capital,’ which resulted in the search for the precious liquid in one of the most polluted rivers in Latin America and whose results of water analysis is ‘not suitable for human consumption,’” Daniel Jimenez explains in his revealing post about the situation. Jimenez’s account of Venezuela’s week-long power outage adds: For now, the average population on foot, the Venezuelan who has no strength or time to march, nor to defend the revolution, continues in his titanic daily struggle to get water, food and most importantly money to be able to acquire the above; given the galloping hyperinflation. Bitcoin Trade Volumes Slump by 40% During the Blackout and BTC Currently Sells for $150 Less Than Global Spot Prices Weeks before the blackout, BTC trade volumes on Localbitcoins in Venezuela had risen to all-time highs (25 billion bolivars or $7.5 million USD). At the time there were many headlines and editorials about Venezuelans possibly running to bitcoin as a hedge against the hyperinflation. However, as soon as the power went out on March 7, Localbitcoins trade volumes slid 40 percent during the blackout to a low of 14 billion bolivars ($4.2 million). The author at Caracas Chronicles, Carlos Hernandez, tweeted about volumes dropping significantly at the same time most of the country had no power. Localbitcoins trade volumes in Venezuela during the blackout. Stories like these echo a similar situation that took place in Zimbabwe where cryptocurrency speculators hope the region’s hyperinflation sparks hyperbitcoinization. Just like in Venezuela, demand for bitcoin is high when the country’s infrastructure is working properly, but in Zimbabwe on Jan. 15 when mobile networks and internet service providers were suspended it became an entirely different story. With hyperinflation taking place in Venezuela, citizens are being pushed to use any means of payment that can help them survive. Localbitcoins volumes during the blackout drop by 40% from the all-time high in January 2019. Besides euros, U.S. dollars, and barter, the use of cryptocurrencies provides another avenue of escape but only when the electricity is working. Moreover, at the time of publication, 1 BTC is selling for roughly 12 million bolivars ($3,650) which is $150-200 less than global spot prices. With the power in Venezuela slowly being restored, Localbitcoin ads in Caracas, Valencia, Barquisimeto, Maracay, Guayana City, Maracaibo, Barinas, and Carabobo are popping with sellers trying to unload BTC for cheaper prices than the rest of the world. What do you think about the situation in Venezuela? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Pixabay, Twitter, and Coin Dance. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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 Bitcoin Volumes in Venezuela Plummet During Nationwide Blackout appeared first on Bitcoin News. View the full article

The Chicago Board Options Exchange (Cboe) has announced that it is dropping any new bitcoin futures contracts this month. The decision may have been necessitated by low trading volumes. Cboe indicated that its CFE futures platform was currently pondering its position on cryptocurrency derivatives trading. Also read: Canadian Capital Market Regulators Mull New Cryptocurrency Rules Cboe Considers Future of Bitcoin Futures In a statement on March 14, the exchange revealed: “CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019. CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading.” Current bitcoin futures contracts remain available for trading until June when they expire. The Cboe futures were greeted with wild enthusiasm when they first entered the market in December 2017, when BTC prices were at their highest. Together with the Chicago Mercantile Exchange (CME) bitcoin futures, which launched around the same time, the instruments were viewed as major stepping stones into the mainstream, key to attracting institutional capital into the cryptocurrency market. However, the events that followed in the ensuing months did not inspire a lot of confidence, as XBT trading volumes nosedived, in part due to the 2018 sustained market downturn. Declining Volume According to research company Tradeblock, XBT has been losing ground to bitcoin futures from the Chicago Mercantile Exchange whose volumes have dwarfed XBT’s in recent months despite starting on an equal footing. Overall, bitcoin futures trading volume has fallen since reaching a peak in the summer of 2018. “We tracked notional bitcoin futures trading volume at both the CME and Cboe since December of 2017. While both firms launched competing products, in the same month over the course of 2018, the CBOE lost significant market share to the CME,” Tradeblock explained. CME vs CBOE Bitcoin Futures Notional Trading Volume Over Time The report further indicated that while bitcoin futures trading volume initially saw significant growth each month following inception, spot trading activity was steadily declining during the same period. “Given these divergent trends, total futures trading volume across the CME and CBOE reached near parity with total spot trading volume across five of the largest U.S. accessible digital currency exchanges. This changed somewhat recently as futures volume has fallen while spot volume has picked up modestly,” Tradeblock added. Now, with Cboe dropping bitcoin futures, it will be interesting to see how these trends change, as the market prepares to launch several new bitcoin futures platforms. Bakkt, Erisx, and Coinflex are all planning to launch bitcoin futures. What do you think about Cboe’s decision to discontinue bitcoin futures? Let us know in the comments section below. Images courtesy of Shutterstock and Tradeblock. Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com The post Cboe Discontinues Bitcoin Futures for Now appeared first on Bitcoin News. View the full article

In Friday’s edition of the daily, we begin by examining the rise of Cosmos, which in terms of sheer hype and expectation is this month’s Grin. We also check out anonymous crime reporting system Intelli Network and consider Bittrex International’s decision to cancel its first token sale hours before it was scheduled to start. Also read: Mt Gox CEO Mark Karpeles Found Not Guilty of Embezzlement Cosmos Whips the Cryptosphere Into a Craze The Cosmos network is only a few days old and already it’s the hottest ticket in town. 20,000 blocks have been produced so far, with an average block time of six seconds. The only number that’s captivated the investor community, however, is the price of its ATOM token. Poloniex is in the process of adding Cosmos’ native token to its exchange, but meanwhile, it’s trading on other platforms as futures. With atoms on some exchanges trading for close to $19, ICO participants are on course to make a cool 200x on their 2017 investment. The proof-of-stake Cosmos network, whose Tendermint algorithm has formed the basis of Binance’ new DEX, aims to connect blockchains and provide full interoperability between BTC and other assets. Intelli Network Devises Crypto Crime Network Intelli Network, an Ethereum dapp, has shared details of its crime-gathering network. The project aims to enhance public safety by facilitating the sharing of intelligence tools, with a focus on crowdsourced tips that can be provided anonymously and viewed by anyone. It aims to overcome the black box problem in which crime reports are normally submitted by the public, who are then left in the dark as to whether the incident has been investigated and resolved. The Canada-based Intelli Network is backed by the Calgary Innovation Coalition, an organization that supports entrepreneurs and startups in the region. Bittrex International Cancels Raid Token Sale On March 14, Bittrex International called off its maiden token sale hours before it was set to go ahead. In a statement, the exchange explained that “Trust and integrity are our most valuable assets … We decided to cancel the IEO as a result of significant changes in the business status of RAID. Specifically, a few hours ago, OP.GG terminated its strategic partnership with RAID, which was a vital part of the RAID project. When Bittrex International became aware of this significant event, we did not feel that it was in the best interest of our customers to move forward with the IEO.” OP.GG In an unambiguously worded statement, OP.GG explained: “There will be no economic and technical cooperation with RAID coin. In addition, OP.GG has no intention of developing any blockchain related business utilizing RIOT GAMES data. OP.GG will take all possible legal measures against individuals or organizations disseminating false facts related to this.” What are your thoughts on the stories in today’s news roundup? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post In the Daily: Cosmos Expands, Crypto Crime Network, Bittrex Cancels Raid Sale appeared first on Bitcoin News. View the full article

Capital market regulators in Canada are planning to establish new rules to curb the risks associated with cryptocurrency trading platforms. This follows the sudden death of Gerald Cotten, founder and chief executive officer of crypto exchange Quadrigacx, which led to about $145 million in frozen or missing cryptocurrencies. Also read: Bitcoin Exchange Gatecoin Shuts Down Citing Financial Difficulty Tailored Requirements for Crypto Exchanges In a joint new consultation paper on March 14, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) spoke of the need to come up with tailored requirements to address the “novel features and risks” of digital currency exchanges. “We must adapt to innovation, and provide clarity to the market about how regulatory requirements might best be tailored and applied to these unique business models, while maintaining investor protection,” the regulators detailed. “We endeavor to facilitate innovation that benefits investors and our capital markets, while ensuring that we have the appropriate tools and understanding to keep pace with evolving markets,” they added. Cotten died in India on Dec. 9 without revealing the keys to cold wallets containing CAD $190 million (~US $145 million). A Nova Scotia Supreme Court judge in February granted Quadriga’s request for creditor protection from as many as 115,000 customers. Investigations by Ernst & Young, the court-appointed monitor in the case, have given little hope the funds will ever be recovered. However, the Quadrigacx saga has exposed a gap in the Canadian cryptocurrency industry regulation system, prompting investors to query who would be held accountable in the event of a loss. In the past few months, industry players and other concerned stakeholders have increased calls for regulation, although some legal experts are curious to know whether securities regulators have jurisdiction over the asset class. Regulatory Clarity Faced with such a tricky situation, the CSA and IIROC have now resolved not only to provide clarity for cryptocurrency businesses, but also to create greater market integrity and address investor protection risks, explaining: Regulators around the world are currently considering important issues surrounding the regulation of crypto assets including the appropriate regulation of platforms. We intend to use this feedback to establish a framework that provides regulatory clarity to platforms, addresses risks to investors and creates greater market integrity. The consultation paper solicits input from the financial technology community, market participants, investors and other stakeholders on how requirements may be tailored for digital currency exchanges operating in Canada. It comes at a time when interest in crypto assets among investors, governments and regulators globally has increased significantly since the creation of Bitcoin in 2008. The total value of crypto assets grew to $800 billion in early 2018, and although the value has since fallen due to market volatilities, interest in cryptocurrencies remains high. There are currently over 2,000 crypto assets that may be traded for government-issued currencies or other types of crypto assets on over 200 platforms that facilitate the buying, selling and transferring of crypto assets. But there are concerns by government overlords that lack of regulatory oversight on these platforms may have spurred increased fraudulent activities involving cryptocurrencies, thereby curtailing investment. According to the Globe and Mail, many Canadian cryptocurrency exchanges are taking steps to address customer concerns and guarantee investor fund protection following the Quadrigacx event. For example, Toronto-based Bitbuy has simulated a number of disasters – including nuclear attacks and the sudden passing of all of its directors – to ensure that customers would still be able to access their funds, the newspaper reported. Bitbuy also recently hired a U.S.-based blockchain forensics company to review its solvency status, its methods for storing cryptocurrency, and its asset segregation practices, it said. What do you think about cryptocurrency regulation in Canada? Let us know 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 Canadian Capital Market Regulators Mull New Cryptocurrency Rules appeared first on Bitcoin News. View the full article

Fidelity Investments’ new cryptocurrency arm is now up and running. The unit, Fidelity Digital Assets, began operations earlier this quarter but didn’t make any noise about it. It has already started offering trade execution and crypto custody services to institutional investors such as hedge funds and private wealth management firms. Also read: UN Panel: North Korea Hacked $571M From Asian Crypto Exchanges Bear Market – What Bear Market? Tom Jessop, who heads Fidelity Digital Assets, told CNBC that the so-called crypto winter hadn’t affected the rolling out of operations at the new unit. Weak prices have also failed to put a damper on the company’s institutional cryptocurrency offerings, he stated. “In terms of our pipeline, prices really haven’t had an impact. If you started a crypto fund at the height of the market you’re probably hurting right now,” Jessop was quoted as saying, on Mar. 8. Fidelity Investments first announced the creation of its cryptocurrency subsidiary last October. However, since the announcement, bears have continued to dominate the market. Last year, bitcoin core lost more than 80 percent of its value, skidding from a peak of almost $20,000 to $3,879 as of this writing. In 2019, prices have appeared to stabilize between $3,300 and $4,000. But conservative institutional investors, such as those courted by Fidelity, have hesitated to enter the cryptocurrency space. That’s partly due to concerns over bitcoin’s volatility, which can swing or crash by as much as 10 percent within a matter of hours. Wait and See Attitude Jessop admitted that institutional investors are still in “wait and see” mode where cryptocurrency investments are concerned. However, he explained that there is long-term interest from such investors to add some crypto to their portfolios. Many corporate investors consider cryptocurrency a store of value during a crisis, while others look at it as an opportunity to trade. Jessop opined: If anything, they (institutional investors) are as encouraged now as they were when prices were higher. At some point, there will be an attractive entry point. But by the same token people don’t want to be early even if we’re well off the highs. To establish the level interest, Fidelity surveyed about 450 institutions, including the rich, hedge funds and endowments, CNBC reported. The results showed 22 percent of the respondents already owned cryptocurrency and were planning to double their portfolios. Fidelity Digital Assets will help these investors to buy and sell cryptocurrencies across several exchanges as well as store the digital assets safely. Jessop also revealed that some aspects of the business remained a work in progress, such as expanding the areas where it can do business while attending to competing client needs, some of whom require a bit of education in crypto investing. Fidelity’s entry into the cryptocurrency industry is viewed as a major turning point for drawing institutional investors into the same space. The 72-year old family-run company manages retirement plans and mutual funds. What do you think about Fidelity’s new cryptocurrency unit? Let us know 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 Fidelity’s Cryptocurrency Arm Starts Offering Institutional Investor Services appeared first on Bitcoin News. View the full article

On March 8, the Department of Justice and the U.S. Attorney’s Office Southern District of New York (SDNY) announced that officials have indicted two of the top leaders of the notorious Onecoin project. The prosecutors charged Onecoin cofounders Konstantin Ignatov and Ruja Ignatova with a slew of charges in connection with defrauding investors. Konstantin Ignatov was also arrested in Los Angeles and appeared before a judge in California. Also read: ‘Bitcoin Killer’ Onecoin Is Ashes But Investigations Continue to This Day US Prosecutors Charge Onecoin Leaders With Money Laundering and Securities Fraud This week U.S. prosecutors have indicted the leaders of the infamous Onecoin project: Konstantin Ignatov and Ruja Ignatova. The duo started the project back in 2014 and enlisted a group of others to help spread the Ponzi scheme. Just recently news.Bitcoin.com shared an update update on the Onecoin project and how law enforcement from a variety of countries has been investigating this case. Furthermore, Ruja Ignatova had gone missing and hadn’t been seen in well over a year after purchasing a mansion and yacht. Now the U.S. Department of Justice (DoJ) has informed the public that Konstantin Ignatov has been arrested in L.A. and both leaders are being charged with wire fraud, money laundering, and securities fraud. “As alleged in the indictment, these defendants executed an old-school pyramid scheme on a new-school platform, compromising the integrity of New York’s financial system and defrauding investors out of billions,” New York County District Attorney Cyrus R. Vance, Jr., detailed. “Our Office urges all crypto investors to scrutinize investment opportunities, recognize the prevalence of fraud in this underregulated space, and proceed with caution.” Konstantin Ignatov was arrested this week in L.A. ‘Onecoin Lacked a True Blockchain’ The press release published by the DoJ and SDNY is quite damning. The announcement notes that the duo claimed private computers or “servers” mined the purported cryptocurrency named Onecoin. However, the investigators allege the project was nothing more than a “fraudulent pyramid scheme.” “Onecoin Ltd. operates as a multi-level marketing network through which members receive commissions for recruiting others to purchase cryptocurrency packages — Onecoin continues to operate to this day,” the announcement read. The seething critique of the purported blockchain continued: Additionally, Onecoin Ltd. has claimed to have a private “blockchain,” or a digital ledger identifying Onecoins and recording historical transactions — The investigation has revealed that Onecoin lacks a true blockchain, that is, a public and verifiable blockchain. U.S. law enforcement officials say Ruja Ignatova remains at large. The release also mentioned that by March 2015 Ruja Ignatova and her cofounder told certain members of the Oncoin inner circle that the packages were “fake coins.” According to a transcript of text between one unnamed cofounder the individual wrote: “These ppl are idiots” referring to investors. The law enforcement officials further detailed that Ignatova has disappeared from publicly running the company, but Konstantin still conducted Onecoin business in the U.S. in 2019. The release also mentioned the recent Feb. 17 arrest of Florida-based attorney Mark Scott who allegedly helped the duo launder and wire a large amount of Onecoin’s illicit funds. All three of the individuals are facing a maximum sentence of 20 years in prison but Ignatova remains at large. What do you think about the leaders of Onecoin being charged in the U.S. for money laundering and fraud? Let us know what you think about this subject in the comments below. Image credits: Pixabay and Youtube. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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 Onecoin Leaders Indicted in the U.S. for Operating ‘Fraudulent Pyramid Scheme’ appeared first on Bitcoin News. View the full article

Several Indian crypto exchanges have shared data with news.Bitcoin.com on the most traded cryptocurrencies on their platforms so far this year. Crypto enthusiasts in India have been buying and selling a wide range of cryptocurrencies despite the central bank’s roadblock which stops crypto exchanges from accessing banking services. Also read: Indian Government Confirms Cryptocurrency Regulation in Final Stages BTC The most-traded cryptocurrency year-to-date on Indian exchanges Wazirx, Coindcx, and Instashift is BTC. On Bitbns exchange, it is the third most-traded cryptocurrency this year. Wazirx facilitated $6.5 million worth of BTC trades between Jan. 1 and March 7. Coindcx swapped 792 BTC for its users in the same time period, while Instashift’s BTC trades accounted for 77.76% of its total buy volume and 67.58% of its total sell volume. The price of BTC has risen 4.28% year-to-date from $3,742 at the beginning of the year to $3,902 at the time of this writing. Its market cap currently stands at approximately $68.59 billion, which is roughly 51.65% of the total market cap of over 2,000 cryptocurrencies listed on Coinmarketcap. ETH ETH currently has the second-largest market cap of approximately $14.21 billion. The cryptocurrency is the second most-traded coin on Wazirx, with $2 million worth changing hands between Jan. 1 and March 7. It is the fourth most-traded coin on Instashift but did not make the top five coins by trading volume so far this year on Coindcx or Bitbns, according to data supplied to news.Bitcoin.com by the exchanges. The price of ETH only climbed 0.86% from $134.49 since the beginning of January to $135.64 at the time of writing. XRP XRP, the native coin of Ripple, is one of the top five cryptocurrencies with largest trading volumes on Wazirx, Coindcx, Instashift, and Bitbns so far this year. It is the third most-traded on Wazirx, with approximately $2 million worth of XRP changing hands since the beginning of the year. It is the fourth most-traded coin on Coindcx, with 456 BTC worth traded during the same time period. XRP is also the most-traded coin on Bitbns and the second most-traded one on Instashift, accounting for 9.31% of the latter’s total buy volume and 9.74% of its total sell volume. The price of XRP has fallen 12.78% from $0.354949 on Jan. 1 to $0.309570 at the time of this writing. The coin’s market cap is currently around $12.83 billion, which ranks it third highest of all cryptocoins. TRX Tron (TRX) ranks among the top five most-traded coins year-to-date on Wazirx, Coindcx, and Bitbns. Since the beginning of the year, around $1.7 million of TRX has changed hands on Wazirx and 423 BTC worth of the coin traded on Coindcx. In addition, another crypto exchange, Koinex, revealed on March 5 that TRX was the most popular digital asset of the week for its recently launched service, Express, which is an instant converter for over 200 crypto trading pairs. The price of TRX has surged 17.71% since the start of the year, from $0.019096 to $0.022477. Its market cap is currently $1.50 billion. Last month, China’s Center for Information and Industry Development (CCID), under the country’s Ministry of Industry and Information Technology, began evaluating Tron’s blockchain and ranked it second among the 35 crypto projects it reviewed. BTT Newcomer Bittorrent token (BTT) is already among the top five coins traded on Wazirx and Coindcx. The former traded approximately $800,000 worth of the coin so far this year and the latter the equivalent of 559 BTC. BTT began trading on Wazirx last month and quickly became a favorite among traders, the exchange revealed. A factor contributing to its popularity is likely the coin’s monthly airdrop for TRX holders on the 11th of every month, which Wazirx supports. Koinex also announced on Feb. 1 its support for the BTT airdrops. The BTT token is expected to be integrated into the Bittorrent platform as a way to incentivize faster downloads. Although the integration has not taken place, BTT’s price has climbed 43.02% from its $0.000516 price on Jan. 31 to $0.000738 at the time of this writing. Coindcx also noted that its third most-traded coin this year is THETA and the sixth most-traded is BNB. On Bitbns, ADA, EOS, and NEO also top the list of most traded coins during the same time period. Currently, the Indian crypto community is waiting for the government to announce its first set of crypto regulations and hoping for the banking ban by the central bank, the Reserve Bank of India (RBI), to be lifted. The supreme court, on Feb. 25, gave the government four weeks to come up with a regulatory framework for cryptocurrencies before it sets a date to hear the petitions against the RBI ban. Which cryptocurrencies do you think should be on the list? Let us know in the comments section below. Disclaimer: This article is for informational purposes only and should not to be considered as trading or investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the trader. Images courtesy of Shutterstock and Coinmarketcap. Need to calculate your bitcoin holdings? Check our tools section. The post Most Popular Cryptocurrencies in India According to Exchanges appeared first on Bitcoin News. View the full article

On March 8, London-based exchange Voltaire announced a new incentive for registered traders that provides the ability to earn BCH during each trade executed on the platform. According to Voltaire, which bases all of its exchange paired denominations in BCH, users will earn 0.2 percent of each trade and will be paid in bitcoin cash. Also Read: Voltaire.cash Exchange Launches – Supporting BCH as the Base Exchange Pair Voltaire Now Offers a Cashback Incentive on Every Trade BCH-fueled exchange Voltaire has announced a new reward for traders. Voltaire is a cryptocurrency trading platform that bases all market denominations in BCH which launched in September of 2018. At the moment the exchange provides two markets – BTC/BCH and BSV/BCH – but in the near future the platform is implementing ETH/BCH and LTC/BCH. Now Voltaire has added a program called Cashback that will provide users with 0.2 percent on every executed trade. BCH rewards accumulated will be sent to the user’s exchange wallet. The Cashback promotion is enabled by default on all pairs offered by Voltaire. Voltaire.cash exchange supports BCH as the base exchange pair. “0.2% of the value of each maker order made on Voltaire is credited directly to the user’s wallet in the disposed of currency,” ran the company’s announcement. “In practice, this means that if a user is to submit an order to buy BTC, they’ll get 0.2% of the value of their order back in bitcoin cash — The total earnings of any user can be accessed from the wallet section of the profile.” The exchange also detailed that Voltaire is continuing to expand its team and has other ambitious projects planned. According to Voltaire, the startup is expecting an investment in Q2 that will help bolster the platform’s goals. “Several institutional and strategic investors have expressed interest in funding Voltaire’s growth,” the exchange remarked. Voltaire has already received early funding from the incubator Think, Try it, Do, which is sponsored by the University of Exeter. Voltaire’s trading engine shows cashback rewards on the bottom left of the screen. Voltaire CEO: ‘BCH Offers a Stronger Solution to Scaling’ 21-year-old Semyon Germanovich is a huge fan of the BCH ecosystem and believes the Cashback program is a great incentive during the crypto winter. “During a bear market, the best thing one can do is to get their head down and build utility, drive adoption and create value,” Voltaire’s founder Germanovich opined. “The release of Voltaire Cashback is an exciting and innovative event in the Bitcoin Cash ecosystem — Bitcoin Cash offers the technically stronger solution to scaling.” Germanovich added: High transaction fees and extremely slow processing times as observed in 2017 are unacceptable and have a catastrophic impact on payment and trading experience — We chose Bitcoin Cash because we believe it’s the most efficient and fastest technology to use for payments and trading. There aren’t many exchanges that offer pure BCH markets like Voltaire, so BCH enthusiasts have been visiting the platform since launch. Currently, the trading platforms Panda Exchange and Coinex offer a section of BCH markets as well but they also offer segmented BTC and ETH markets too. With 0.2 percent BCH rewards for each maker order made on Voltaire, the incentive may entice more traders to visit the exchange. “As part of Voltaire’s core value of transparency, a calculator has been built to allow users to calculate potential bitcoin cash earnings for trading on Voltaire,” the exchange concluded. What do you think about Voltaire’s BCH-powered Cashback incentive program for trades? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Voltaire, and Pixabay. Need to calculate your bitcoin holdings? Check our tools section. The post Trading Platform Voltaire Rewards Users With BCH for Every Trade appeared first on Bitcoin News. View the full article

The U.N. Security Council has heard that North Korea uses cyberattacks and blockchain technology to evade economic sanctions and obtain foreign currency. Through hacking, the reclusive Republic has raked in around $670 million in foreign exchange and cryptocurrency, a panel of experts told the Security Council’s North Korea sanctions committee, ahead of the council’s annual report. Also read: Social investment Platform Etoro Launches in 30 US States Crypto Exchanges and Financial Institutions Hacked Pyongyang is reeling from a slew of economic sanctions imposed by the U.N. at the request of the United States over its nuclear and missile programs. The embargo has crippled North Korea’s coal exports, a major foreign exchange earner. According to the Nikkei Asian Review, which claims to have obtained the panel’s report, the North cyberattacked overseas financial companies from 2015 to 2018, and used blockchain technology to cover its tracks. Between January 2017 and September 2018, the Democratic People’s Republic of Korea successfully hacked cryptocurrency exchanges in Asia at least five times, with losses totaling $571 million, the panel estimated. The attacks are understood to have been carried out by a specialized military unit and are now a crucial part of North Korean government policy, the article detailed. The panel did not name the affected trading platforms but Japanese exchange Coincheck reported in January 2018 the theft of $530 million worth of the NEM cryptocurrency during an attack. Another cyberattack in September last year on Zaif, a crypto exchange operating out of Japan, left a financial hole of $60 million. In South Korea, more than 10 million users of e-commerce platform Interpark had their personal information stolen in cyberattacks. Hackers demanded a ransom of $2.7 million in exchange for returning the stolen data. The South Korean government believes the attacks were carried out by the North and the U.N. expert panel is convinced they were meant to obtain foreign currency. Evading Economic Sanctions In its report, which is due to be submitted formally within days, the U.N. panel explained: [Cryptocurrencies] provide the Democratic People’s Republic of Korea with more ways to evade sanctions, given that they are harder to trace, can be laundered many times and are independent from government regulation. The experts pointed out that the North Korean government created a pool of illicit funds from hacking since 2016. It recommended that state parties “enhance their ability to facilitate robust information exchange on the cyberattacks by North Korea with other governments and with their own financial institutions,” to detect and prevent the North from circumventing the sanctions. North Korea also stands accused of using the anonymity of virtual currencies to get around economic sanctions, the Nikkei Asian Review reported. For example, Marine Chain, a Hong Kong-based company, which buys and sells ships using blockchain, is believed to have supplied North Korea with cryptocurrency until it was eventually shut down in September 2018. What are your thoughts on North Korean cyberattacks on cryptocurrency exchanges? Let us know in the comments section below. Images courtesy of Shutterstock and Nikkei Asian Review. Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com The post UN Panel: North Korea Hacked $571M From Asian Crypto Exchanges appeared first on Bitcoin News. View the full article

During the week of March 2, roughly 14,365 BTC changed hands via peer-to-peer (P2P) exchange Localbitcoins, equating to approximately $51.51 million worth of trade. Of that, 3,593 was BTC traded via the Russian markets, 83 percent more volume than was produced by Localbitcoins’ second-largest market, Venezuela. Also Read: Turkish Real Estate Agency Sells 9 Houses for BTC Russia, Venezuela and United States Comprise Largest Markets on Localbitcoins Approximately 3,593 BTC were traded for Russian rubles (RUB) on Localbitcoins this past week, making it the largest P2P market by trade volume. Russian Localbitcoins trade activity during the week of March 2 equated to 918 million RUB (approximately $13.81 million). Venezuela comprised the second largest national market on Localbitcoins during the week of March 2, producing 1,953 BTC worth of trade – the fifth strongest week on record when measured in cryptocurrency. When measured against fiat currency, Venezuelan trade produced 25.43 billion Venezuelan bolivars (approximately $7.72 million), comprising the strongest week on record. In America, 1,807 BTC were exchanged for USD this past week, equating to $9.67 million worth of trade. As such, the U.S. comprised the third strongest P2P market of the past week, posting the strongest seven days of trade when measured in fiat currency in over one year. Nigerian Localbitcoins Trade Exceeds 900 BTC Roughly 903 BTC were traded for Nigerian naira (NGN) this past week, ranking Nigeria as the fourth largest market on Localbitcoins. When measured against fiat currency, 1.21 billion NGN worth of trade took place (nearly $3.32 million). China comprised the fifth largest P2P market this past week, with 839 BTC trading for Chinese yuan (CNY), equating to 21.8 million CNY (more than $3.24 million). Chinese P2P trade just beat European Localbitcoins, with 830 BTC having been traded for euros (EUR) during the week of March 2. When measured against fiat currency, 2.83 million EUR (roughly $3.17 million) was swapped. Trade between the British pound (GBP) and BTC comprised the seventh largest market on Localbitcoins this past week, with 806 BTC or 2.37 million GBP ($3.1 billion) worth of trade. Croatia and Hungary Post 1 BTC Worth of P2P Trade Each Colombia comprised the eighth largest Localbitcoins market with 725 BTC worth of trade this past week, the third strongest week on record. When converted to fiat currency, the Colombian P2P market saw 7.9 billion Colombian pesos ($2.52 million) worth of BTC traded during the week of March 2. Approximately 317 BTC were traded for Indian rupees (INR) this past week, ranking it as the ninth largest market on Localbitcoins. When measured against fiat currency, the week of March 2 saw 88.62 million INR (roughly $1.26 million) traded for BTC. South Africa comprised the 10th largest P2P market, with 288 BTC or 15.76 million ZAR (approximately $1.08 million) worth of trade. Croatia and Hungary tied to comprise the weakest performing Localbitcoins markets this past week, both producing roughly 1 BTC in trade activity apiece. Do you expect Russia to continue to host the largest Localbitcoins market in the coming months? Share your thoughts in the comments section below! Images courtesy of Shutterstock, Coin.dance 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 P2P Markets: Russian Localbitcoins Trade Outpaces Venezuela appeared first on Bitcoin News. View the full article