roadrunner

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Midex, an international company with HQs in Estonia and representatives in Asia, has announced the launch of the first EU regulated crypto-to-fiat exchange. With the trading performance of millions of operations per second, a wide range of deposit and withdrawal methods (wire transfers, payment cards, instant payments), support of the top trading pairs, and a robust security system, the platform is here to meet the needs of crypto beginners and professional traders. The key pillars of the Midex exchange are legality and safety. Midex is the cryptocurrency exchange that has obtained a termless operating license with the number one (FVR000001), allowing it to provide services of exchanging virtual currencies to the fiat and vice versa. Moreover, the platform has developed an advanced security system, according to which the main assets are stored in cold wallets, where the private keys are presented as multi-sig, hence, not a single person in the company is able to access e-wallet at any time. Keys have never been performed to the devices or connected to the web, and are stored in geographically distributed locations. The Midex alert system blocks any operations in case of violation of database integrity or an unauthorized change. When it comes to the crypto-to-fiat exchange, the ability to easily deposit and withdraw funds are a sticking point for many platforms. Midex already launches with such payment options as bank transfer and cards (VISA, MasterCard, and JCB). In the beginning, most of the deposit methods are free of charge. “In our company, we are constantly operating within fast-growing markets, and the cryptocurrency industry is essentially one of them. Midex exchange supports both well-established currencies, such as BTC and ETH, as well as promising emerging coins,” says Arseniy Dain, CBDO. “Although the platform is available all over the world, we are currently focusing on the EU and Asian markets, the confirmation of which you may see in the supported fiat currencies — USD, GBP, CNY, JPY, EUR, and HKD. And there are more to come, and we are flexible enough to satisfy the needs of our users.” Midex is claiming to become the best exchange for both beginners and professional traders. Newcomers will enjoy the user-friendly and intuitive interface where everything can be done using just one window. Such a straightforward deposit method as payment cards and support of the 24/7 customer service will also come in handy for those who are willing to buy their first cryptocurrency. High liquidity, the platform’s performance of millions of operations per second (depends on the trading volume), anonymous trading, and API for setting up automated trading, are here to serve the needs of the professionals. Finally, users can take advantage of the platform’s native token — Midex (MDX). The token can be used for reducing the fees and obtaining discounts, as well as receiving passive income in the form of 20% of daily commissions turnover, distributed among the token holders’ accounts under the special conditions. About Midex Midex is an international company headquartered in Estonia with the representatives in Japan, South Korea, Hong Kong. The team members are developing and implementing innovations for the leading financial infrastructure institutions and companies. In 2018, Midex has successfully raised over $20 million during the token sale and is implementing the roadmap into life by launching the first regulated EU crypto exchange. The company’s IPO is expected in two years. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post PR: Midex Launches EU Regulated Crypto to Fiat Exchange appeared first on Bitcoin News. View the full article

Cryptocurrency markets have seen losses over the last 24 hours and since our last markets update five days ago. Since then, most of the top cryptocurrencies have been moving sideways in a tight consolidated pattern. At the moment, the market capitalization of the entire digital asset economy is valued at roughly $125 billion and markets are seeing around $13.4 billion in global trade volume. Also read: New Software Copernicus Has Mined Its First Bitcoin Cash Block Cryptocurrency Markets Drop in Value Once Again It’s another day of trading within the digital asset economy as traders patiently wait for cryptocurrencies to make the next big market move. Prices are lower today after bulls attempted to move higher a couple of times over the weekend. This Monday, Dec. 3, the top 10 digital currency markets are down 3-11% over the last 24 hours. Bitcoin core (BTC) markets are down 6.5% today but are still up 0.87% over the last seven days. At the time of publication, one BTC is being swapped for $3,889 and the currency’s overall market valuation is just above $67 billion. Ripple (XRP) still commands the second position among the top digital assets and one XRP is trading for $0.35. The third largest capitalization, held by ethereum (ETH), is down 7.3% today. Ethereum has an average price of $108 per coin and an overall market valuation of $11.2 billion. Stellar (XLM) has managed to capture the fourth spot from bitcoin cash (BCH) but is down 6.7% over the last 24 hours. One XLM is being swapped for $0.15 per coin and the market is still up over 2% for the entire week. Bitcoin Cash (BCH) Market Action Bitcoin cash (BCH) markets are down 7.2% over the last day and have lost over 15% this week as well. One BCH is trading for roughly $155-165 per coin and is down to its lowest value in over a year. At the moment, BCH markets have a capitalization of around $2.8 billion and global trades this Monday are capturing $67 million. BCH trade volume is significantly lower than usual because it was roughly $120 million five days ago. This has put BCH in the 15th position, when it once commanded fifth position in 24-hour trade volume for weeks on end. Ethereum is dominating BCH trades this Monday by 63% out of all bitcoin cash swaps worldwide. This metric is followed by trading pairs like BTC (24%), USDT (8.9%), JPY (1.7%), and the KRW (1%). BCH/USD Technical Indicators Looking at the BCH/USD charts shows bulls have a ton of work to do in order for the price to gain some more upward momentum. Technical indicators still point toward the downside, looking at the four-hour interval during this afternoon’s trading sessions. The two common Simple Moving Averages (SMA) have a much wider gap now, with the long-term 200 SMA well above the short-term 100. This indicates the path toward the least resistance is still down rather than up and markets have been showing this data play out in real-time. The Relative Strength Index (RSI) oscillator also shows BCH markets are still oversold but it is not as extreme as RSI levels two weeks ago. Looking at order books shows bulls have to press past the current vantage point and other sell walls all the way up to $225. If buyers can manage to get the price that high, then there seems to be some smoother seas after that. However, things are looking bearish, and if the bears continue to claw prices down, they will be stopped by buyers temporarily between now and $130. The Verdict: An Elusive Search for Benchmark Prices Plenty of traders thought the last spike was merely a ‘dead cat bounce’ and prices have plunged significantly over the last six hours. More optimistic individuals continue to believe cryptocurrency prices will rebound by the year’s end. With the price of bitcoin core (BTC) below the $4K mark, many digital asset enthusiasts are wondering when the market bottom will appear. The founder of the cryptocurrency data web portal Cryptocompare, Charles Hayter, thinks a price indicator will arise from the current storm. “Bitcoin has been correlated to its hashrate and with it now falling, so is the price,” explained Hayter last Tuesday. “The idea is that the hash rate gives some idea of what underlying opex and capital costs people are willing to utilize to generate bitcoin and give it a benchmark price.” 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, and Satoshi Pulse. Want to create your own secure cold storage paper wallet? Check our tools section. The post Markets Update: Falling Cryptocurrencies Wipe Out Last Week’s Gains appeared first on Bitcoin News. View the full article

A new Russian online marketplace that allows users to buy and sell goods and services priced in cryptocurrency has rapidly expanded in recent months. The Mentalmarket website has been publishing a growing number of ads in a dozen categories, from “cryptoindustry” to “real estate.” Also read: Russian Miners Sell Their Equipment Amid Market Plunge Audis Sold for Digital Coins Mentalmarket looks like any other website with classified ads, but all of its items are priced in cryptocurrency. The platform supports payments in major coins such as bitcoin core (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC), zcash (ZEC), Ripple’s XRP and dash. Prices are also displayed in U.S. dollars for convenience. The marketplace has been gaining popularity among Russian crypto enthusiasts with a growing assortment of products and services. Users can buy almost anything — from mining hardware and bitcoin ATM devices to plots of land around Moscow and a hotel in Sochi. A farmer from Tashkent even sells sheep at 0.074 BTC a head. An Audi dealer in Saint Petersburg, Russia’s second-largest city, recently posted a number of ads on Mentalmarket. “You can now buy any Audi model with cryptocurrency,” Kirill Skotnikov, Mentalmarket’s CFO, announced. Some of the more expensive models are selling for over 35 BTC, while an Audi A3 costs around 230 ETH. Skotnikov is convinced that the limited number of everyday use cases is one of the reasons for the current downward trend on crypto markets and the bias against the technology. Quoted by the Russian news outlet Blockchain 24, he said: Our mission is to make the daily use of cryptocurrency as familiar and simple as using bank cards by offering a wide range of goods and services and providing the infrastructure to simplify the interaction with cryptocurrencies for a large number of users. How to Use Mentalmarket Mentalmarket publishes ads from residents of the Russian Federation and other countries in the Commonwealth of Independent States (CIS). Users can log in to the platform if they have a Telegram account. They need to send “start” to @MentalMarket_Bot to request an authorization code, then click “Login via Telegram” on the Mentalmarket website before entering the code. The online marketplace does not charge any fees when buyers and sellers contact each other directly on the platform. And users are not required to exchange their cryptocurrency to fiat money in order to make payments. In addition, the startup is currently developing a feature called “Secure Deals” to offer intermediation services. The parties to such deals would not need to meet or transact directly and would benefit from additional guarantees. Mentalmarket also plans to introduce a rating system for all sellers. This would allow buyers to be more confident in the quality of the goods and services they purchase. Sellers, on the other hand, will be able to take advantage of the opportunity to build additional sales channels to reach a growing number of cryptocurrency users. The platform has strict requirements regarding the content of the ads. Unlike darknet marketplaces, Mentalmarket does not facilitate the sale of any items that would be considered illegal in the countries in which it operates. The blacklist includes drugs, alcohol and tobacco products, as well as precious metals and databases with personal or corporate information. Cryptocurrencies are not yet regulated in Russia and in most countries from the post-Soviet space. Nevertheless, their popularity has continued to increase in recent years. A number of platforms now offer exchange services to Russian speakers. And projects such as Mentalmarket are responding to growing demand for opportunities to spend digital money without converting to fiat. Do you think platforms such as Mentalmarket can help accelerate the adoption of cryptocurrencies? Share your thoughts on the subject in the comments section below. Images courtesy of Shutterstock, Smartmockups. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post Russian Marketplace Allows Users to Sell Items Priced in Cryptocurrency appeared first on Bitcoin News. View the full article

In today’s edition of The Daily, we look at the effect of cryptocurrency on video gaming, banking laws and popular media. A leading PC manufacturer wants to enable gamers to mine, a U.S. state has passed a bill to create dedicated financial institutions for cryptocurrency startups, and Bitcoin is on TV again. Also Read: G20 Leaders Declare Commitment to Regulate Crypto Assets Asus Teams Up With Mining Startup Asus has announced a new strategic partnership with Quantumcloud, a startup that wants gamers to use their idle graphics cards to mine cryptocurrency. The graphics card maker can leverage its large user base of clients as a distribution partner for the app. Quantumcloud claims to be different than other mining apps by focusing on data security and ease of use. It promises to protect user data and comply with the EU’s General Data Protection Regulation (GDPR) regulations. It does not require users to create new accounts for the app, as they can log in with their existing accounts on Paypal or the popular Chinese messaging app Wechat. Wallet management, cryptocurrency mining mix, currency conversions and fiat transfers are also integrated into the back-end of the software. Wyoming Adopts Crypto Banking Bill Members of the Wyoming State Legislature have passed a bill that sets the stage for the creation of dedicated financial institutions to provide services to cryptocurrency companies. The legislation is meant to help with the establishment of crypto companies in the state, as they often struggle to secure financial services from traditional banks. The bill talks about creating “special purpose depository institutions,” as news.Bitcoin.com reported when it was drafted. They could be licensed as money transmitters in Wyoming and provide exchange services for both cryptocurrency and fiat funds. Each institution would have to open a branch in the state and operate within the federal banking system. Clients would be obliged to maintain 100 percent cash reserves to match their digital money accounts, and hold a minimum balance of $100,000 in fiat or cryptocurrency. Cryptocurrency Featured on Jeopardy Bitcoin is appearing more and more in popular culture outside the news media, including references in rap music lyrics and TV shows. The latest example is the inclusion of “Cryptocurrencies” as a category on a recent episode of trivia game show Jeopardy. According to commenters on Reddit, the Jeopardy contestants waited until the end to pick the category, but all of them answered correctly. If you want to test your basic knowledge of the subject, the clues were: An altcoin is any unit of cryptocurrency other than this original one; A lawsuit from this rapper killed off the Coinye currency; Each transaction is a “block” connected in these digital ledgers that enable cryptocurrencies to work; This three-letter chat app created its own currency, the very similarly named KIN; In 2018, this South American country launched the Petro, a currency backed by oil reserves. What do you think about today’s news tidbits? 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 The Daily: Asus Wants to Turn Gamers Into Miners, Wyoming Advances Crypto Bank Bill appeared first on Bitcoin News. View the full article

Japan’s Financial Services Agency has held several meetings to discuss how to best regulate initial coin offerings. In addition to registration requirements, the regulator reportedly plans to amend two existing laws that can be applied to token sales. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Registrations and Law Changes The Financial Services Agency (FSA), Japan’s top financial regulator, “is set to launch regulations on initial coin offerings [ICOs],” Jiji Press wrote on Saturday. Sources told the news outlet: The FSA will require business operators that issue their own cryptocurrencies to be registered with the agency. Japan’s amended Payment Services Act requires cryptocurrency operators to register with the FSA. However, ICOs are currently not covered within the scope of this act. Jiji Press also reported that, in order to “introduce the [ICO] regulations,” the agency “plans to submit bills to revise the financial instruments and exchange law and the payment services law to next year’s ordinary parliamentary session starting in January.” FSA’s ICO Discussions The FSA has been holding study group meetings to discuss how to best regulate token sales. The agency has stated that ICOs are not prohibited but acknowledged that many of them are fraudulent. In March, Satis Group published a report which claims that 78 percent of ICOs are scams. Sources told Jiji Press: In view of a number of possibly fraudulent ICO cases abroad, the financial regulator plans to limit individuals’ investment in ICOs for better protecting them. While Japan currently does not have a specific law for ICOs, two existing laws may apply to them based on how they are structured, the FSA previously explained. The first applicable law is the Payment Services Act. The other is the Financial Instruments and Exchange Act which provides a regulatory framework for securities and securities companies in Japan. At the latest meeting on ICO regulation held on Nov. 28, the FSA discussed additional areas it plans to regulate. Some ICOs will be regulated under the Financial Instruments and Exchange Act. “If an ICO has the characteristics of an investment, and the purchase of a token by a virtual currency is practically deemed equivalent to that of legal tender, the ICO becomes subject to regulations under the Financial Instruments and Exchange Act,” the regulator previously explained. The regulation will also include disclosure requirements and measures for unfair trades. In addition, distribution channels will be regulated and token issuers will be screened to ensure adequate financial health. What do you think of the FSA’s plans to regulate ICOs? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Japan Unveils Plans to Regulate Initial Coin Offerings appeared first on Bitcoin News. View the full article

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. “Community is about ownership and as the companies have started owning these decentralized networks of payment they are reaching out the horizon of success, where More Stamps Global is the next Expedia for crypto world.” After achieving the set targets, More Stamps Global is now stepping ahead in the undeniable global reach with the ease of crypto currencies. Not just that but their travel booking had been top notch according to the data collected by the customers. The travel industry is growing at a rapid pace, what maintains the forge is the ease and quality a travel company commits. More Stamps Global, one of the pioneers is proud to reach its 600+ flight options, 600000+ hotels for accommodation, 100000+ beautiful places for sightseeing also they offer the transferring service. Recently the promotional codes and tokens have attracted many bringing the market flow towards increasing business. MSG understanding the market need has introduced the MSG tokens to let many take advantage of their great services and booking ease. MSG token gives a further reduction of 30% to the users also the direct supplier contact is there to eliminate the fees keeping the customer flow. Soon they will accurately be able to quantify the community strength and take it to a completely next level. Gradual advancements have always brought global networks together, as the travel industry flourishes the bookings and travel services demand progression for which the More Stamps Global along with introducing their MSG token are further working on their travel and booking systems this year which is expected to get functional by June 2019. Collaborating with Airport facilities the MSG has gotten access to the best networks of lounges; the digits go up to 500 in 97 countries, across the world providing comfort to their clients. The pre-bookable facility that can be done 15 months prior makes it further easy with crypto-currencies regardless of which class you are travelling with. Travelling to another country, you may choose a mode of travel from cruise, train or drive yourself. If one wants to rent a car MSG has a range of cars from economical to high fleet. Train reservations with meal services make the journey a breeze. Group booking services and cabin allocations is also possible prior. One the go information has changed the whole outlook of traveling; with MSG customers can easily check their flight details, weather and time of destination. Competing market has made the pioneers flourish and MSG is one such example when it comes to travelling with ease. The latest for the customers have made the trips quite easy on pocket with the 30% off facilities due to MSG token this year. Contact Email Address: press@morestamps.global Supporting Link http://www.morestamps.global This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post PR: More Stamps Global Is the One Stop Shop for Crypto Travel appeared first on Bitcoin News. View the full article

Venezuela’s President Nicolas Maduro has announced that the price of the petro, his country’s national “cryptocurrency,” has been increased from 3,600 sovereign bolivars to 9,000. While the wallet for the petro is still unavailable, the Venezuelan government continues to sell the digital currency and issue certificates of purchase to buyers. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Price Hike for Petro Maduro announced on state television on Thursday the price increase of the petro, Venezuela’s so-called national “cryptocurrency,” effective on Friday. The announcement was made at the same time he ordered a 150 percent increase in the country’s monthly minimum wage, the sixth rate hike this year. Bloomberg wrote on Thursday: The price for the petro cryptocurrency will rise from 3,600 sovereign bolivars [Bs.s] to 9,000. Previously, Maduro announced that 1 petro was worth 3,600 sovereign bolivars. In August, Maduro linked the price of the petro to the sovereign bolivar (bolívar soberano), the main currency of Venezuela since Aug. 20. “Each petro, as the anchor point of the sovereign bolívar, will have a value of 3,600 Bs.s,” he announced at the time. Following Maduro’s Thursday announcement, Venezuelan economist Leonardo Buniak explained that the petro “was worth 3,600 Bs.s because the Dicom dollar cost 60 and the oil cost 60,” Atodomomento publication reported. He added, “now a petro is decreed at 9,000 Bs.s … you have just devalued the sovereign bolivar with respect to the petro and by more than 100%,” elaborating: Anchoring the bolivar to the petro is anchoring it to nothing. Lacking Crypto Traits Buniak also asserted that “the petro cannot be called a cryptocurrency because the value was given by President Maduro and not the interaction between supply and demand,” the publication conveyed. He detailed: When the president decrees that a petro is worth 9,000 Bs.s, what he is saying is that the petro is not a cryptocurrency but a debt title that is predetermined, [which] cannot be mined. It is impossible to think that it is a cryptocurrency when its value is not given by the interaction between supply and demand. Furthermore, the wallet for the petro is still unavailable. The links to download them for Windows and Linux still pop up the message: “This wallet will soon be available for your operating system.” In addition, Tarek El Aissami, the country’s economic minister and former vice president, previously explained that Google has removed the Android app for the petro wallet from the Google Play store. The Petro code is also not available to the public, so independent confirmation of its existence or functionality is impossible. There are also no published charts or data showing the health of the Petro network, such as network activity, confirmation times, transaction throughput, mining hashrate, or other basic cryptocurrency statistics. The Venezuelan government’s own block explorer for the petro currently shows a total of 3,138 blocks despite the Petro whitepaper’s description of one block per minute. A Venezuelan government official holding her petro certificate. Despite the petro’s lack of cryptocurrency traits, Sunacrip, the regulator in charge of all crypto activities in Venezuela, has been selling the digital currency at its headquarters since the end of October. Buyers are issued certificates of purchase after completing know-your-customer (KYC) verification involving fingerprinting. Meanwhile, Maduro announced on Nov. 26 during a meeting with his cabinet of ministers that “tourism zones will be created in which services will be paid in international cryptocurrencies, in the petro government cryptocurrency and in international currencies,” El Nacional reported. What do you think of Maduro raising the price of the petro against the sovereign bolivar? Let us know in the comments section below. Images courtesy of Shutterstock and the Venezuelan government. Need to calculate your bitcoin holdings? Check our tools section. The post Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than Double appeared first on Bitcoin News. View the full article

In the second installment of our series on key moments from Bitcoin’s history, we look at the circumstances that led to the selection of the distinctive ₿ symbol and corresponding logo. As internet records show, the initial Bitcoin logo was one of the few nontechnical aspects of Bitcoin in which Satoshi Nakamoto had a say. Also read: Bitcoin History Part 1: In the Beginning From Baht to Bitcoin When Satoshi published his whitepaper a decade ago, and then mined the genesis block a little over two months later, there was still a lot of Bitcoin to build. There were no wallets, no block explorers and no exchanges — in fact there wasn’t even an exchange rate. Nor was there a symbol to represent the bitcoin currency. The first attempt at a logo was designed by Satoshi himself for the first Bitcoin client and comprised a gold coin containing the letters BC. By early 2010, however, around the time that a small community was beginning to form, talk was underway to replace it, complete with a unicode character to represent the maiden cryptocurrency. The evolution of the Bitcoin logo “I propose that we adopt the Thai baht currency symbol, ฿, as the official bitcoin currency symbol and BTC as the official bitcoin three letter currency code,” wrote Bitcointalk forum member “NewLibertyStandard” on Feb 5, 2010. (Four months earlier, the same individual made the first bitcoin purchase using fiat currency, paying $5.02 for 5,050 BTC.) There followed intense discussion, with some forum users worrying that the baht symbol could cause confusion. The first Bitcoin client with Satoshi’s BC logo depicted in the upper left A New Logo for a New Era On Nov. 1, 2010, forum user “bitboy” shared the newly designed Bitcoin logo, with the ₿ rendered in its now trademark white and orange, complete with “Rotation: Clockwise 14%,” a position it has held to this day. “Interestingly, the dollar sign originated with two vertical bars rather than one, according to several theories,” chipped in Hal Finney on the previous symbol thread opened by NewLibertyStandard. By now it was 2011; conversation moved slowly back then. The Bitcoin logo. The Bitcoin Cash logo, in comparison, tilts the opposite way. In keeping with Bitcoin’s long-standing absence of governance, even when Satoshi was still around to play benevolent dictator, there was little consensus on which symbol should be adopted. A poll in mid-2011, however, saw forum users vote overwhelmingly in favor of ฿, ahead of such options as β, Ƃ, and Ƀ. It wasn’t until years later, in June of 2017, that Bitcoin would finally gain its own unicode symbol and officially become ₿. Interestingly the word “bitcoin” doesn’t appear once in the body of Satoshi’s seminal whitepaper, showing up only in the title and in the name of the .org domain printed directly below it. Bitcoin, whether it be denominated as BTC, XBT, ฿ or ₿, was never about branding — it was about changing the world. Bitcoin History is a multipart series from news.Bitcoin.com charting pivotal moments in the evolution of the world’s first and finest cryptocurrency. Read part one here. Images courtesy of Shutterstock and Medium. Need to calculate your bitcoin holdings? Check our tools section. The post Bitcoin History Part 2: The Bitcoin Symbol appeared first on Bitcoin News. View the full article

On Saturday, Dec. 1, the Copernicus project announced the launch of its full node implementation pre-release written in the programming language Golang (Go). Following the release, the client was used to generate the first Golang version of a Bitcoin Cash block mined at height 558847. Also read: Intel Awarded a Patent for an Energy Efficient Bitcoin Mining Process The Copernicus Project: An Alternative BCH Client Not Written in C++ An Alternative client mined Bitcoin Cash block 558847 on Dec. 1. This weekend, an unknown mining pool processed the first Bitcoin Cash (BCH) block that was generated using a full node client written in a language other than Satoshi’s original C++ client. The project, called Copernicus, is a BCH implementation written in Golang (GO) and follows the myriad of Go clients released earlier this year. The difference between the Bchd and Gocoin.cash programs is that the Copernicus software was used to mine a BCH block on mainnet. At 00:32:40 a.m., Dec. 1, 2018 (Beijing Time), BCH block 558847 with a difficulty value of 689.49 G / 274.81 G was mined using the Golang client’s pre-release. BCH block 558847. The developers behind the open source Copernicus project seemed pretty thrilled with the achievement and posted the development to BCH-centric forums like r/btc. A few BCH enthusiasts showed excitement for the block mined with Go and appreciated the concept of multiple client implementations. The project’s developers explained in a blog post that the team is dedicated to bringing innovation to the Bitcoin Cash network. “The Copernicus project is always following the open-source spirit and devoted to contributing to BCH community, we will constantly explore new technologies and usage scenarios to promote BCH development,” the software programmers behind the Copernicus client explained. The Block Processed in Go Follows Last Year’s Bcoin Block in Node.js There are quite a few Go-based BCH libraries. The block mined at height 558847 is interesting because blocks are traditionally mined in the coding language C++. In March last year, the BTC network had a similar historical event when the first block from an alternative client not written in Satoshi’s original C++ code was mined on the mainnet. BTC block 457010 was mined on mainnet using the Node.js implementation Bcoin and was processed by the mining pool BTC.com. Moreover, last September two BCH full node clients were published that are also written in the Golang language. The creator of counterparty.cash (XCPC) announced the launch of Gocoin-cash, and a team of programmers including Openbazaar’s Chris Pacia launched Bchd. The Bchd client in particular has allowed for the creation of a privacy-centric BCH light client called Neutrino. Similar to the other BCH Go-based clients, the Copernicus project developers believe that programming in Go makes the BCH code structure “more concise.” More importantly, because the Go programming language is used a lot these days, the team believes that the coding language reduces the learning curve for programmers. Additionally, the diversity of clients is meant to “ensure the safety of the entire BCH network.” What do you think about the Copernicus project and the block mined with a Go implementation? Let us know what you think about this subject in the comments section below. Images via Shutterstock, the Go Gopher logo, the Bitcoin.com Explorer, and the Copernicus project Need to calculate your bitcoin holdings? Check our tools section. The post An Alternative Client Has Mined Bitcoin Cash Block 558847 appeared first on Bitcoin News. View the full article

While some countries have taken the lead to regulate various aspects of using cryptocurrencies, many have left the matter completely up in the air. This might soon change as pressure is mounting on governments to develop standards for crypto regulations, as evident by the latest G20 meeting of top politicians from around the world. Also Read: Research Exposes Anti-Bitcoin Bias in Mainstream Media Mitigating Risks of Technology The G20 Leaders’ Summit in Buenos Aires, Argentina, ended on Saturday, Dec. 1, with a joint declaration on fair and sustainable development adopted by the heads of state. The statement affirms that an open financial system is crucial to support economic growth but also calls for international standards to regulate new technologies such as cryptocurrency. “We will continue to monitor and, if necessary, tackle emerging risks and vulnerabilities in the financial system; and, through continued regulatory and supervisory cooperation, address fragmentation. We look forward to continued progress on achieving resilient non-bank financial intermediation,” the G20 leaders proclaimed. “We will step up efforts to ensure that the potential benefits of technology in the financial sector can be realized while risks are mitigated. We will regulate crypto assets for anti-money laundering and countering the financing of terrorism in line with FATF [Financial Action Task Force] standards and we will consider other responses as needed.” The Road to Buenos Aires G20 is an international forum for government officials and central bankers from the 20 biggest economies in the world. Its members represent 85 percent of the global economic output, 66 percent of the world’s population and 75 percent of international trade. Back in February, French and German high ranking officials issued a letter calling for a discussion on the regulatory implications of cryptocurrencies and tokens among the finance ministers of the G20 states. In March, it was also revealed that Japan, a leading country in the adoption of cryptocurrencies, is pushing for an agreement on global rules on the matter. And in July, financial ministers and central bankers from the G20 expressed their position that cryptocurrencies do not pose a risk to financial stability, but called on the FATF to clarify how its regulations apply to crypto assets. Should cryptocurrency users welcome international regulations? Share your thoughts in the comments section below. Images courtesy of Shutterstock, G20 Argentina. 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 G20 Leaders Declare Commitment to Regulate Crypto Assets appeared first on Bitcoin News. View the full article

On Nov. 27, the world’s second-largest semiconductor chip maker, Intel, was granted a patent for a processing system that mines Bitcoin but utilizes more “energy-efficient hardware accelerators.” According to the patent called the “Optimized SHA256 Datapath,” the newly invented “high-performance” Bitcoin mining process could reduce overall power consumption by 15 percent. Also read: Sirin Labs Launches Blockchain-Centric ‘Finney’ Smartphone Intel Awarded a Patent for a New Bitcoin Mining Process The Intel corporation, headquartered in Santa Clara, California is well known for being a competitive chipset manufacturer. Last Tuesday the company was granted a patent by the United States Patent and Trademark Office (USPTO) which describes a specialized processing system for mining the SHA256 algorithm. The patent was filed on June 29, 2016, and the concept was invented by three individuals from Hillsboro, Oregon. Intel’s latest patent claims the corporation has invented a more efficient SHA256 mining (BCH, BTC) process. The mining process is optimized by using SHA256 datapaths. The invention claims to be a more efficient mining processor with hardware accelerators that can narrow overall power consumption compared to today’s application-specific integrated circuit (ASIC) machines. The patent’s description is 29 pages long and contains figures which illustrate the processing system. The invention could comprise of various things like a “chipset, or a portion of a chipset.” “Embodiments of the present disclosure include energy-efficient ASIC-based SHA engines that consume less power for Bitcoin mining operations,” explains the patent. The Intel patent explains that Bitcoin’s technology “resolves the ‘double spending’ problem,” but further emphasizes that processors today that are mining cryptocurrencies consume enormous amounts of power. Intel says some “clusters of SHA engines” consume more than 200 watts. The invention claims it will take advantage of a myriad of SHA-256 stages and methods of processing hash by utilizing optimized data paths. Intel’s Bitcoin mining patent approved on Nov. 27, 2018. Intel’s Competition is Samsung Intel stepping into the Bitcoin mining arena is interesting but it’s not the corporation’s first taste of cryptocurrency solutions. At the Money 20/20 event in 2016, Bitpay announced that Copay wallet users would get “hardware-level security” with Intel’s Software Guard Extension (SGX). A year later the digital currency hardware wallet manufacturer Ledger revealed it had partnered with the multinational technology firm. Ledger explained at the time that the organization’s operating system BOLOS would be tied to SGX. The company’s latest patent, however, seems to focus more on what Intel is best at, which is creating high-performance semiconductor chips. At the moment, Intel is the second highest valued semiconductor manufacturer in the world with Samsung sitting on the throne. Samsung has already started producing commercial grade ASIC chips for certain Bitcoin-based mining businesses and has a lead on Intel so far. The Bitcoin mining process developed by Intel shows the corporation definitely wants in on this innovative and growing industry of “SHA engines.” What do you think about Intel’s Bitcoin mining patent? Do you think Intel plans on being more involved within the cryptocurrency industry? Let us know what you think about this subject in the comments section below. Images via Shutterstock, USPTO, Pixabay, Intel, and Samsung logos. Need to calculate your bitcoin holdings? Check our tools section. The post Intel Awarded a Patent for an Energy Efficient Bitcoin Mining Process appeared first on Bitcoin News. View the full article

In this edition of the Daily, we cover Bitmain’s new cryptocurrency index and the establishment of a fund that will invest in bitcoin mining. We also look at a recently active online account that was previously associated with Satoshi Nakamoto, as well as the launch of a help center for defrauded crypto enthusiasts in Russia. Also read: Belarus Adopts New Regulations, Galaxy Digital Releases Q3 Results BLC10 Tracks Major Cryptocurrencies Chinese crypto mining giant Bitmain has launched its own cryptocurrency index. It tracks the performance of the largest and most liquid digital coins on the market and is denominated in U.S. dollars. The index is designed to meet the needs of both private and institutional investors, according to the Beijing-based company. The index page lists individual indices for 17 leading cryptocurrencies with their real-time spot prices in USD and BTC, updated by the second. A reference price is published once a day, at 10:00 a.m. Hong Kong time. Bitmain uses data from major exchanges such as Bitfinex, Binance, Bitstamp, Bittrex, Gdax, Gemini, Huobi, Itbit, Kraken, Okex and Poloniex. The aggregated Bitmain Large Cap 10 Index (BLC10) tracks the top 10 cryptocurrencies by market capitalization. The index is evaluated monthly to ensure its methodology and scope are up to date and representative. Xolaris Launches Investment Fund for Mining Projects German investment management company Xolaris has launched a private equity fund dedicated to bitcoin mining. It will invest in building infrastructure and acquire new hardware for different projects. The fund will also finance the expansion of an existing mining facility in Sweden. According to Xolaris, there’s continued demand from clients who want to participate in the mining industry, despite the recent downward trend in the cryptocurrency markets. They are welcome to support the fund with a minimum investment of €250,000 (~$283,000). The company hopes to raise between €30 million (~$34 million) and €50 million (~$56 million) for its four-year project. The expected rate of return is around 165 percent. The first investment opportunity has been identified already — a bitcoin farm with approximately 2,000 miners in Sweden. Its capacity will be expanded with capital accumulated in the Xolaris fund. The Konstanz-based group is planning to launch a similar fund also in Hong Kong. Satoshi’s Account Posts a Single Word: ‘Nour’ An account on the P2P Foundation network, once associated with Satoshi Nakamoto, has posted a one-word message after four years of inactivity. The status, simply reading “nour,” appeared on Thursday, Nov. 29, and has since sparked speculation in the crypto community about its meaning and authenticity. The account is linked to an old email address used by Nakamoto, satoshin@gmx.com, which was reportedly hacked in late 2014. According to one of the most discussed theories in the space, “nour” is the English transliteration of several similar words in Semitic languages, the meaning of which has the same root — “light.” In Arabic, “sabah el nour,” or “morning full of light,” is a common reply to “sabah el khair,” which means “good morning!” In modern Hebrew, “nour” means “flare,” and in Aramaic, “fire.” The long-dormant Satoshi account has also befriended another user, Wagner Tamanaha. According to his profile, Tamanaha is based in Brazil, and his picture and family name suggest he is of Japanese descent. The user, who is reportedly a member of the Brazilian crypto community, left a message for Nakamoto on Friday. The text is in Japanese and according to Google Translate it reads: “Nice to meet you. Thank you very much, I will do my best for Bitcoins from Brazil!” Russian Crypto Association to Help Fraud Victims The Russian Association of Cryptoindustry and Blockchain (RACIB) has launched a help center to support crypto enthusiasts who have been defrauded by scammers or unscrupulous companies. The organization also plans to actively cooperate with Russian law enforcement agencies and Interpol in the investigation of such cases, Bitnovosti reported. According to recently released data, the number of cyber crimes related to digital assets increased by 32 percent in Russia in the first quarter of 2018. RACIB’s project, the First Private Cryptocurrency Investigation Agency, will provide an array of services to cryptocurrency investors, including assistance in searching for stolen funds and assessing new investment opportunities in the crypto space. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock, HTP. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining Fund appeared first on Bitcoin News. View the full article

A regulated Japanese cryptocurrency exchange is shutting down to relaunch as part of the Huobi family. The new exchange will support six cryptocurrencies and 11 trading pairs. Existing Bittrade customers need to open new accounts, complete KYC verification, and transfer their assets to the new platform. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Bittrade Shutting Down Bittrade, one of 16 regulated Japanese cryptocurrency exchanges, has announced the complete termination of its current trading system. The exchange will then reopen as part of the Huobi family. Huobi Japan Holding Ltd., a wholly owned subsidiary of Huobi Global, has acquired a majority stake in Bittrade. Huobi itself stopped providing services to Japanese residents in June due to regulatory issues as Huobi is not a registered crypto exchange in Japan. Bittrade is asking its customers to open accounts at the new Huobi platform and complete know-your-customer (KYC) verification, noting: Please prepare your identity confirmation document again … from the viewpoint of thoroughly pursuing the criminal profit transfer prevention law, please register new accounts. The exchange will terminate its agreement with Bitbank Corp., the provider of its current trading system, under a white label agreement. Bitbank also operates a regulated crypto exchange in Japan. Asset Transfers In its announcement, Bittrade stated that it will not transfer customer assets. Instead, the exchange has provided instructions for customers to transfer their own assets to the new platform. Japanese yen in Bittrade accounts must be transferred to registered bank accounts by Jan. 18, 2019. Cryptocurrencies can be transferred directly from existing Bittrade accounts to new Huobi accounts once they are set up. The exchange emphasized that the new platform will handle all cryptocurrencies currently supported by Bittrade: BTC, BCH, XRP, MONA, ETH, and LTC. The first four on the list can be traded against the yen. In addition, BCH, ETH, LTC, and MONA can be traded against BTC. Bittrade noted that the new system will additionally offer ETH/JPY, LTC/JPY, and XRP/BTC trading pairs. The exchange wrote: We are sorry for the inconvenience caused by the termination of the Bittrade service and updating to the Huobi new system. In the new system, we will continue to offer more liquidity and convenience services, so we appreciate your patronage. Time Frame The new Huobi platform is expected to start accepting new registrations on Dec. 10. It plans to start accepting deposits and begin trading on Jan. 8. The exchange’s new web address will be huobi.co.jp. Bittrade suspended new account registrations on Nov. 30. Deposits in both cryptocurrencies and Japanese yen will be halted on Dec. 14, followed by transactions on Dec. 27. Withdrawals and account access will cease on Jan. 18. The exchange clarified that even after users can no longer log into their accounts: [Their] assets will not be lost due to the termination of this service. However, after January 18, it is only possible to withdraw the full balance of both virtual currencies and Japanese yen. What do you think of Bittrade shutting down its service and relaunching as part of Huobi? Let us know in the comments section below. Images courtesy of Shutterstock, Bittrade, and Huobi. Need to calculate your bitcoin holdings? Check our tools section. The post Japanese Cryptocurrency Exchange to Relaunch as Part of Huobi After Buyout appeared first on Bitcoin News. View the full article

A U.S. district judge has denied the motion filed by the Securities and Exchange Commission (SEC) against cryptocurrency company Blockvest and its founder. The SEC failed to show the court that Blockvest’s tokens are securities. The company has set up a fictitious regulatory agency and claimed its ICO is endorsed by three different U.S. regulators. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Judge Denies SEC’s Motion U.S. District Judge Gonzalo P. Curiel has denied the SEC’s motion for preliminary injunction against Blockvest Llc and its founder, the case document dated Nov. 27 shows. The SEC alleged that Blockvest’s BLV tokens are securities based on the three-part Howey test. The defendants disagreed. After hearing “starkly different facts” provided by plaintiff SEC and the defendants, the court concluded that “because there are disputed issues of fact, the court cannot make a determination whether the test BLV tokens were ‘securities’ under the first prong of Howey.” Furthermore, the SEC “has not demonstrated” that investors had an “expectation of profits,” as required to satisfy the second prong of Howey. According to the court document: The court concludes that [the] plaintiff has not demonstrated a prima facie showing that there has been a previous violation of the federal securities laws … the court denies plaintiff’s motion for preliminary injunction. The Complaint The SEC filed a complaint against Blockvest Llc and its chairman and founder, Reginald Buddy Ringgold III aka Rasool Abdul Rahim El, alleging multiple violations of the Securities Exchange Act. Blockvest was set up to exchange cryptocurrencies but has never become operational, the court document notes. The complaint states that the defendants had been selling BLV tokens which the SEC claims are unregistered securities. According to the company, the presales were conducted in March, $2.5 million was raised in seven days and nine million tokens were sold by Sept. 17. The court document describes: Blockvest purports to be the ‘first licensed and regulated tokenized cryptocurrency exchange & index fund based in the US.’ The SEC explained that Blockvest and Ringgold falsely claim their ICO has been “registered” and “approved” by the commission. They also use the agency’s seal on their website, along with the seals of the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). In addition, they claim to have partnered with and have been audited by Deloitte. The commission also noted: Defendants also created a fictitious regulatory agency, the Blockchain Exchange Commission (BEC), creating its own fake government seal, logo, and mission statement that are nearly identical to the SEC’s seal, logo and mission statement. Moreover, BEC’s ‘office’ is the same address as the SEC’s headquarters. 32 Testers and 17 Investors Ringgold argued that Blockvest has never sold any tokens to the public and its sole investor is Rosegold Investments Llp, which he runs and personally invested more than $175,000 of his own money into. Rosegold “manages Blockvest and finances Blockvest’s activities,” the court document reveals. According to the SEC, Blockvest has 32 “partner testers” who tested its platform. They put BTC and ETH worth less than $10,000 in total onto the exchange. The commission also says that the defendants admit that Rosegold had 17 other investors during the pre-ICO solicitations and at least eight of them wrote “coins” or “Blockvest” on their checks. Nonetheless, Ringgold claims that BLV tokens were never released to any investors and he has never received any money from the sale of BLV tokens. The court document states: Ringgold recognizes that mistakes were made but no representations or omissions were made in connection with the sale and purchase of securities … Currently, he has ceased all efforts to proceed with the ICO and agrees not to proceed with an ICO until he gives SEC’s counsel 30 days’ notice. What do you think of the court denying the SEC’s motion? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post SEC Fails to Show Court Blockvest Tokens Are Securities appeared first on Bitcoin News. View the full article

The majority of bitcoin miners — about 78 percent — use renewable energy to power their mining operations, while preventing surplus electricity from going to waste in countries such as China, a new study by Coinshares has revealed. The U.K.-based digital asset management company argues that “bitcoin mining may in fact be acting as an electricity buyer of last resort,” contrary to the mainstream media construct of it being an environmental menace. Also read: Bitcoin Mining Start-Up Envion Ordered to Close by Swiss Court ‘Buyer of Last Resort’ In its report, “The Bitcoin Mining Network,” Coinshares said that the multibillion-dollar cryptocurrency mining industry is using a lot of excess clean power in China, where the government has poured billions of dollars into the development of solar, wind and hydroelectric power plants. China accounts for 60 percent of global bitcoin mining. Renewables also dominate in mines throughout the Pacific Northwest, in U.S. states such as Washington and Oregon, as well as the Canadian province of British Columbia. And there are many miners using renewable energy in Scandinavia, a region that extracts about 35 percent of the global bitcoin total. But China’s large-scale investments in the energy sector have strained electricity networks, leading grid operators to refuse to accept significant amounts of surplus renewable energy capacity, in a practice known as curtailment. Coinshares found that many Chinese miners are actually using curtailed, excess electricity to power their activities, rather than letting the electricity go to waste. “Based on historical data on energy mix and locations of cryptocurrency mining operations in China, we have shown that contrary to the common narrative, the vast majority of global bitcoin mining capacity is running on renewable energy,” wrote Christopher Bendiksen, Samuel Gibbons and Eugene Lim of Coinshares in the report. The study noted high levels of renewables penetration in parts of the world that are home to mining companies — as high as 90 percent in mining hotbeds like China’s Sichuan province. The researchers argue that bitcoin mining is helping to prevent energy from going to waste. The authors detailed: If demand for bitcoin mining keeps increasing, its demand alone could facilitate opportunities for tapping highly productive renewables locations in areas that today would be uneconomically remote. False Narrative The findings challenge the common line in the mainstream media that bitcoin mining consumes a lot of coal-generated electricity — a narrative followed by some academics. In a recent study, for example, researchers at the University of Hawaii at Manoa examined how the rapid increase in the use of cryptocurrencies like bitcoin would impact the environment. They came to the conclusion that within two decades, bitcoin mining could contribute to global warming on a similar level to the energy and transport industries. The researchers compiled data on the use of 40 different technologies, “ranging from dishwashers and e-books to electric power and the internet. They used this information to estimate the rate of uptake this cryptocurrency will see in the coming years.” But mining is a computationally demanding process using expensive equipment, so it’s not always easy to come up with accurate and reliable estimates of bitcoin’s true carbon footprint. And it does not help that the researchers in Hawaii compared the environmental impact of household appliances like dishwashers to bitcoin. A more realistic approach would have also analyzed electricity use in the banking industry. 78% of Miners Use Renewable Energy According to the Coinshares report, an estimated 77.6 percent of cryptocurrency miners throughout the world use renewable energy such as hydropower, making it “greener than almost every other large-scale industry in the world.” Miners are also aware of the importance of energy conservation, with the researchers noting that cooler temperatures in northern China, another key mining hub in the country, reduce the need for cooling systems for the mining hardware. “It is therefore our belief that the claims around the environmental damage caused by cryptocurrency mining fundamentally miss out on the fact that many miners, in their self-serving search for the most cost-efficient form of electricity, have zoomed in on global regions with a glut of renewable electricity as prime locations for mining,” Coinshares stated. What do think about the Coinshares report? Let us know in the comments section below. Images courtesy of Shutterstock and Coinshares. Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com. The post Report: Bitcoin Mining Doesn’t Fuel Climate Change, It Benefits the Global Economy appeared first on Bitcoin News. View the full article

6300, give or take 5k

Over the past few weeks, cryptocurrency proponents have been discussing a new messaging and collaboration platform called Chat.Chat. The application offers an all-in-one system with secure messaging, a multi-currency wallet and native communication with decentralized apps like Memo. Also read: Sirin Labs Launches Blockchain-Centric ‘Finney’ Smartphone The Chat.Chat Messaging Platform There have been a lot of attempts lately to create social media and messaging applications that integrate digital assets. One application that’s been catching some buzz in the cryptocurrency space is a protocol called Chat.Chat, which allows messaging and a connection to decentralized applications. On Friday, Bitmain co-founder Jihan Wu used the Chat.Chat platform to interact with the Memo protocol. “This is me on memo protocol, using Chat.Chat,” he told his Twitter followers, while also leaving the BCH transaction ID within his post. Chat.Chat user profile A Look at the User Interface News.Bitcoin.com tested the Chat.Chat application this week to give readers an inside glimpse at this new application. Chat.Chat works for desktop, iOS and other devices. Signing up for the service requires an email or phone number, after which the system sends the registrant a six-digit PIN to verify the account. Users can create groups and connect with contacts. After the verification is complete, users can access the Chat.Chat dashboard, a dark-themed platform that operates like the Slack program. The Chat.Chat desktop application can connect with selected Gmail contacts, if the user desires, and the iOS version asks users for permission to access the phone’s contacts. The application’s BCH and BTC wallets Of course, connecting with contacts is how the platform can be used for messaging and collaboration. But it also offers native tipping in bitcoin cash (BCH) and bitcoin core (BTC). Registrants are given two wallets when they create accounts and they can use their funds to tip and post to decentralized apps like Memo. The developers have said that ethereum (ETH) and eos (EOS) support is coming soon. The Chat.Chat wallets allow you to enable payments without a password and back up the private key, as well. Creating a group in Chat.Chat Connecting to Decentralized ‘Mini Apps’ The decentralized app section, or “mini app browser,” can be accessed by clicking a little puzzle icon at the bottom of the screen on the right. Users can search for specific mini apps with the browser, but there are three highlighted apps available by default. The platforms include a software development kit (SDK) demo, the interactive cryptocurrency data site Coin 360, and the BCH-powered onchcain social media platform Memo.cash. In order to use Memo with the messaging program, users have to log in within the Chat.Chat application. The ‘mini app browser’ helps users connect to applications like Memo.cash. End-to-End Encryption and Disappearing Messages Chat.Chat iOS version. Messaging within the interface is fairly intuitive and Chat.Chat allows image and attachment uploads, as well as GIFs, microphone communications, and even the ability to draw pictures with a simple paint program. In addition to the ability to chat directly with specific contacts in 16 different languages, Chat.Chat users can also create custom groups. Chatting is end-to-end encrypted, adding a layer of privacy, and users can set a timer for disappearing messages. The application’s user base right now seems small and like the many other messaging and social media platforms launched this year, it will need to gain some traction. Chat.Chat is like a Swiss Army knife, as it’s stuffed with features to entice new users, like the ability to use multiple cryptocurrencies. Furthermore, with all the surveillance these days by governments and corporations worldwide, another end-to-end encrypted messaging service will likely be welcomed by individuals who appreciate freedom and privacy. What do you think about the Chat.Chat application? Let us know what you think in the comments section below. Disclaimer: Bitcoin.com does not endorse 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. Images via Shutterstock, Chat.Chat, Jamie Redman, and Pixabay. Need to calculate your bitcoin holdings? Check our tools section. The post A Look at the Multi-Currency Encrypted Messaging App ‘Chat.Chat’ appeared first on Bitcoin News. View the full article

On Jan. 3, 2019, cryptocurrency proponents the world over will commemorate Bitcoin’s 10th anniversary. While some will raise a glass to Satoshi’s decade-old accomplishment, others may choose to mark the occasion by acquiring a piece of memorabilia. Predictably, there is no shortage of companies lining up to hawk commemorative bitcoin baubles. Also read: Sirin Labs Launches Blockchain-Centric ‘Finney’ Smartphone Bitcoin Is Nearly 10 Again Bitcoin is so special it gets two birthdays a year. The first of these falls on Oct. 31, the date when Satoshi published his whitepaper, and the second occurs on Jan 3, the date he mined the genesis block that kick-started the Bitcoin network. It is this latter date that most people have settled on as Bitcoin’s unofficial birthday, and thus its 10-year anniversary on Jan. 3, 2019, promises to be extra special. A number of companies have cynically crafted items that purport to mark the landmark occasion. Whether these goods are deemed tacky or tasteful is for the beholder to decide. As we warned back in September, when first reporting on this trend, “Brace yourselves. Bitcoin cash-ins are coming.” Hublot’s luxury Bitcoin watch The Bitcoin Anniversary Watch Hublot’s Big Bang Blockchain timepiece is limited to just 210 units, the pre-sale for which is oversubscribed. This is despite each watch retailing for $25,000 or its bitcoin equivalent. The bear market clearly hasn’t ruined the last of crypto’s super-rich, who still have spare coins to throw down on a watch designed to commemorate Satoshi’s “epochal invention including the fact that only 21 million bitcoins will ever exist in this world.” It’s a convenient way to make mega bucks off a phenomenon your company had absolutely nothing to do with. Still, the Meca-10 P2P watch is a fine-looking piece of wrist candy, it must be said. The Bitcoin Anniversary Wallet Ledger’s limited edition Nano, released to coincide with the 10th anniversary of the Bitcoin whitepaper, is both beautiful and practical. It’s probably closer to the spirit of Bitcoin than any of the other products listed here, containing a miniature edition of Satoshi’s whitepaper. There’s also a Sgt. Pepper’s outer box, based on the Beatles’ seminal album, with a lineup of figures from the history of cryptography including Alan Turing and Ada Lovelace. The device retailed for a cent under $100 upon its launch, but as a genuinely limited edition release, you’ll struggle to get your hands on one now. The Bitcoin Anniversary Clock Timekeeping is an integral part of the Bitcoin protocol, with the word “time” appearing no less than 24 times in Satoshi’s whitepaper. That may account for why so many Bitcoin anniversary products are horological in nature. The Block Clock may look rudimentary, with its circuit board design, but it’s packing some nifty features, including cryptocurrency exchange prices and blockchain data pertaining to block height, merkel root and suchlike. Just 500 units of the electro-mechanical Block Clock will be manufactured, but at $4,999, it’s hard to shake the nagging realization that for the same money you could buy one unreasonably cheap BTC, at current prices, and still have change left over. Which brings us to the last commemorative item on our list: If you really want to celebrate Bitcoin’s 10th anniversary in a manner that will give you cause to still be still toasting it 10 years from now, the best thing you can do is to buy bitcoin. Whatever your flavor, be it BTC or BCH, nothing shows your belief in the house that Satoshi built more than buying, saving and spending bitcoin. How will you commemorate Bitcoin’s 10th anniversary? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Four Ways to Commemorate Bitcoin’s 10th Anniversary appeared first on Bitcoin News. View the full article

The Satoshi Revolution: A Revolution of Rising Expectations Section 5: Saving the World Through Anarchism Chapter 11, Part 7 Crypto Justice: Don’t Smash the State, Bypass the State. The 19th century individualist-anarchist Benjamin Tucker referred to anarchism as “society by contract.” The contracts could express any exchange, from leases to prostitution, from insurance policies to drug deals. The contracts would not be legal or illegal, only consensual. Just as crypto bypasses central banking and decentralizes economic control down to the individual, smart contracts have the potential of bypassing much of the legal system and returning to the people’s law—contract law. But, like crypto, the contracts would not require a trusted third party. – Wendy McElroy, “How the Blockchain Provides Private Justice” Last week’s installment of The Satoshi Revolution was entitled “How the Blockchain Provides Private Justice.” It examined a key argument used to counter the possibility of libertarian or private law. In summary: for justice to function, the content and administration of justice needs to be widely accepted, and that acceptance is based on the system being considered legitimate. The legitimacy is deemed to rest on consensus—on the judgment arrived at by most of those concerned–not on individual choice. This means the administration of justice must be centralized and homogenized by an agency that enjoys consensus because such an agency enjoys the compliance, if not the respect, of society. The preceding dynamic requires the state. When neither obedience nor respect are present, then the justice system commands compliance through the institutionalized violence of law enforcement. The Parallels of Crypto and Justice The argument for fiat and against crypto is remarkably similar. In order to function, it is claimed, a currency needs to be widely accepted, and this happens only when the public views it as legitimate. A consensus is necessary. The logic: a currency must be issued by an agency that enjoys public support and can command compliance in the form of acceptance. If the “consensus currency” is not used voluntarily or if it suffers from competition, then its use can be compelled by institutionalized force, such as legal tender laws. Again, this requires the state. This line of reasoning is invalid for currency; it is invalid for justice. Crypto proved that individual consent coupled with an instrument of administration—the blockchain—can create a currency that others accept. The currency needs only the consent of users, not a broader consensus, and compliance with the blockchain is an automatic matter. The consensus argument for both currency and justice is more than invalid, however. It is deeply dishonest. For one thing, it is a contradiction in terms. If the administration and acceptance of a “service” relies upon force, then the service is not widely viewed as legitimate; it is widely opposed. The argument also contains several sleights of hand or sleights of concept. One is how consent and consensus are presented. Consent is equated with legitimacy. This sounds reasonable because, on a personal level, it is. Consent and legitimacy are cause and effect when discussing a person’s willingness to engage in an exchange; a marriage becomes legitimate by saying “I do.” But the legitimacy argument takes a sharp turn when it introduces consensus. At this point, legitimacy is no longer based on individual consent but upon a collective agreement in which individual consent is democratized; the majority wins. The individual loses. As the political satirist P.J. O’Rourke stated “bipartisan consensus. Those are the two most frightening words in Washington. Bipartisan consensus is like when my doctor and my lawyer agree with my wife that I need help.” The consensus argument rests on geography. Because communities are geographically defined, it is assumed that geographically-homogeneous laws must exist, and they are usually established by some form of majority rule. Binding elections result in politicians—that is, people empowered by consensus—who pass laws that apply to every individual, for example, whether the individual consents or not. What happens when geography does not define a community and its institutions? Crypto answered this question in at least one area: currency. Money is no longer restricted to the fiat issued by jurisdictions, which flows through the physical choke points called banks. Crypto decentralizes currency and bypasses the geography of the state. The key to private law and justice is the same as the key to money: remove the trusted third party by decentralizing control down to the individual. Private Justice Justice occurs when everyone receives what they deserve. Libertarian or private law consists of the rules necessary to achieve this end. The most persuasive theorist on private law may well be the libertarian Randy Barnett, who teaches legal theory and contracts at Georgetown University. In his book The Structure of Liberty, Barnett contends that the adjudication and enforcement of law should be privately administered, with inefficiencies addressed by the free market; an example of the latter in crypto is the emergence of decentralized exchanges to handle conversion problems. Barnett argues that private law is the solution to the corrupting influence that vested interests and power will inevitably exert upon justice. Private law is incredibly simple compared to modern models. Barnett writes, “Every dollar spent to punish a drug user or seller is a dollar that cannot be spent collecting restitution from a robber. Every hour spent investigating a drug user or seller is an hour that could have been used to find a missing child. Every trial held to prosecute a drug user or seller is court time that could be used to prosecute a rapist.” Libertarian law is contract law. And as the iconic Murray Rothbard wrote, “It is not the business of the law to make anyone good or reverent or moral or clean or upright.” Law should make people whole. (Note: how contract law could handle fraud and other acts of aggression will be addressed in subsequent installments. This installment deals with exchange.) Private law requires two things: voluntary interaction and an instrument of enforcement. Again, the voluntary interaction is the contract, which is not restricted to the economic exchange. There is no aspect of human contact that agreement—implied, verbal, or written–cannot govern. The obstacle over which theories of private law have stumbled is the instrument of enforcement. For one thing, it invites the participation of a trusted third party. The third party in private law would be a free market one and, presumably, it would be restrained by dynamics like the desire to preserve a good reputation. But any model of law that is dependent upon a trusted third party is vulnerable to corruption, incompetence, and other risk factors. The more dependent it is, the more vulnerable it becomes. The genius of Satoshi Nakamoto was to remove the trusted third party problem from economic exchanges, but the blockchain’s potential extends much further. It has profound implications for contract law. Some of the Blockchain’s Implications for Contract Law A transfer on the blockchain is a simplistic peer-to-peer contract, which memorializes the terms for those involved and is seen to be valid by the surrounding community through transparency. It is a voluntary exchange. The blockchain is also an instrument of enforcement that embodies the terms of execution, such as irreversibility, to which both parties have agreed; their agreement is expressed through the willingness to use the blockchain. Thus the blockchain expresses both requirements of libertarian law; it facilitates voluntary interaction and it acts as an instrument of enforcement. When law is reduced to contracts and their execution, then the code is the law, literally. This sounds simplistic because it expresses the simplicity of private law. But the peer-to-peer and one-off exchanges offered by the blockchain has limited value for societies that require complexities such as ongoing contracts for rent. That’s where smart contracts (discussed in the previous installment) come into play. The self-executing contracts allow individuals to escape the blockchain’s limitations by setting their own additional terms for an exchange and its enforcement, including provisions for default. Smart contracts are in a primitive stage of development right now, but their social and political significance are clear. They decentralize law down to the individual level by personalizing the terms of agreement and eliminating the need for a third party instrument of enforcement. This paradigm of law is free of geography, which makes it free of the perceived need for consensus. The blockchain erases borders as it carries the contract that is consent into every jurisdiction of the world. The implications of this are immense. If every exchange defines and executes its own version of law, and if justice consists of each person receiving what he deserves, then people can code their own version of what is just and many visions of “justice” can exist and self-execute in parallel and peace. One person might conduct daily life through contracts that express Western common law. His Orthodox Jewish neighbor may prefer contracts that embody Hasidic law. Another neighbor may be a communist. If justice is decentralized down to the individual, then rampant diversity is not only possible but also inevitable. In other words, a free market in justice. The code is not only the law, it is also justice. The need for law enforcement, attorneys, and arbitrators would not be eliminated, but it would be so reduced as to become invisible to most people. The need would not be eliminated because it is still necessary to address not merely the operation of daily life but also the break down of daily life: acts of fraud and other violence. [To be continued.] Reprints of this article should credit bitcoin.com and include a link back to the original links to all previous chapters Wendy McElroy has agreed to ”live-publish” her new book The Satoshi Revolution exclusively with Bitcoin.com. Every Saturday you’ll find another installment in a series of posts planned to conclude after about 18 months. Altogether they’ll make up her new book ”The Satoshi Revolution”. Read it here first. The post Wendy McElroy: Don’t Smash the State, Bypass the State appeared first on Bitcoin News. View the full article

In this edition of The Daily, we look at the latest regulatory development in Europe – Belarus High Technologies Park has adopted new regulations for cryptocurrency companies. We also cover Galaxy Digital’s report into its third quarter financial results and an alert issued in Texas about a new scam promising refunds to Bitconnect investors. Also read: Kucoin Enables Credit Card Payments, Coinbase Pro Adds Zcash Belarus Expands Crypto Regulatory Framework Belarus, which legalized business activities related to digital assets earlier this year, has now expanded its crypto-friendly regulatory framework. The High Technologies Park (HTP) in Minsk, where companies from the industry are welcome to register and operate, has announced new regulations aimed at creating even more favorable conditions for cryptocurrency startups. The former Soviet republic became one of the first jurisdictions in Europe to adopt legislation designed to attract crypto and blockchain companies when President Lukashenko’s decree “On the Development of the Digital Economy” came into force in March. According to a press release, now the HTP is introducing additional tax exemptions, advanced anti-money laundering rules, strict data and consumer protection requirements and improved business standards. The new regulations have been approved by the supervisory council of the business park and published on its website on Nov. 30. They introduce comprehensive requirements for companies applying for HTP residence, operators of cryptocurrency platforms, including digital asset exchanges, projects conducting initial coin offerings (ICOs) and internal control rules that registered entities should implement. Galaxy Digital Announces Q3 Financial Results Galaxy Digital Holdings has released the third quarter financial results of both GDH LP, a merchant bank operating with digital assets, and GDH Ltd., a company that holds a minority interest in the crypto bank. GDH LP, also known simply as Galaxy Digital, was established by famed investor Michael Novogratz. It offers an array of services to companies in the cryptocurrency and blockchain industry. According to the report, as of Sept. 30, GDH LP’s digital assets and investments totaled $323 million. A press release details that the $9.5 million increase came as a result of additional purchases and capital deployed during the quarter. Galaxy Digital has also registered $38.1 million of net realized losses on digital assets and $4.2 million of net unrealized losses on investments. As part of the corporate highlights published in the Q3 report, Galaxy Digital confirmed previously announced plans to reposition its advisory services business away from small ICO advisory and technical blockchain consulting. Instead, the bank wants to focus on institutional clients in the crypto space. The company has already closed its Vancouver office and intends to expand its team in New York. Texas Securities Regulator Warns About Bitconnect Refund Scam The Texas State Securities Board (TSSB) has issued an investor alert about a new crypto scam related to Bitconnect. According to its announcement, a fraudulent notice tells people they can receive partial refunds of their investments in the crypto project by completing a form and submitting a $250 fee. The “Bitconnect update” notice claims to be from the regulator and promises to recover 35 percent of the funds they’ve invested. Texas Securities Commissioner Travis Iles explained that the false webpage, set up by an unknown entity, looks like the TSSB’s website. He added that it is an attempt to further defraud Bitconnect investors and described it as an “advance fee” scam. Iles issued a cease and desist order against Bitconnect in January of this year. TSSB now says the order has become final. It remains in full force and effect, the regulator explained, because Bitconnect, which is an overseas cryptocurrency company, has failed to request a hearing to modify or vacate it. TSSB also notes that “the order does not provide for the payment of restitution to Bitconnect investors.” What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock, HTP. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post The Daily: Belarus Adopts New Regulations, Galaxy Digital Releases Q3 Results appeared first on Bitcoin News. View the full article

Jay Clayton, the chairman of the U.S. Securities and Exchange Commission (SEC), recently discussed the current regulatory climate surrounding initial coin offerings (ICOs). Clayton emphasized that all ICOs must register with the SEC to ensure compliance with U.S. law. Also Read: Estonia to Tighten Rules for Licensed Crypto Companies Requirements for Regulatory Compliance The SEC chairman reiterated that the SEC does not see bitcoin as a security. However, it does view the tokens that are offered in many ICOs as securities. “If you’re going to offer and sell securities, you have to do that in compliance with our laws,” Clayton said. Recent regulatory moves by the SEC against ICOs “further emphasize that our securities laws do apply to the ICO space,” he added. “If people are going to raise money using initial coin offerings, they either have to do so in a private placement, or they have to register with the SEC … when you register with the SEC, you’ve got to provide financial statements and disclosure along the lines that we would expect.” When asked if all ICOs are noncompliant, Clayton responded by simply noting that he hasn’t seen any ICOs register with the SEC. He acknowledged that ICOs “conducted off-shore” or those that are “pursuant to a private placement exemption” could fall outside of the SEC’s regulatory purview. However, he added that “to the extent that you’ve conducted a public offering in an ICO, it’s noncompliant.” No Comment on Timing of ETF When asked about the proposed Vaneck bitcoin exchange-traded fund (ETF), Clayton declined to “comment on timing.” However, he asserted that the SEC has been clear about several matters of regulatory concern. Among the issues it has identified are “whether there is reliable price information on trading markets.” The SEC has also looked at concerns about custody, particularly “whether people who hold those assets can count on those assets to be there in the same way you can with other assets that underlie an ETF.” In a recent appearance on the “What Bitcoin Did” podcast, SEC Commissioner Hester Peirce discussed the SEC’s decision to reject nine proposed bitcoin ETFs earlier this year. She stated that the the commission has a tendency to “sometimes look at crypto and … say, ‘well it is very different from any other asset class’.” However, she added that while the notion is “to some degree true … there are similarities with other asset classes if you look at something like gold.” Do you think that ICOs will begin to register with the SEC as cryptocurrency becomes more mainstream? Share your thoughts in the comments section below. Images courtesy of Shutterstock At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? 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 Amid Crackdown, SEC Chairman Emphasizes Compliance Requirements for ICOs appeared first on Bitcoin News. View the full article

Although the 2018 cryptocurrency bull trend has humbled many self-proclaimed crypto “experts,” the business of sponsored cryptocurrency reviews has continued to boom, influencing many market participants in the process. Also Read: Estonia to Tighten Rules for Licensed Crypto Companies ICOs Sponsor Social Media Influencers Hacken, a Ukrainian startup, partnered with social media influencers to promote its initial coin offering earlier this year. Dmytro Budorin, Hacken’s chief executive officer, said the company embarked on an extensive promotional campaign that leveraged social media to reach mainstream investors, after it successfully raised $3 million at the end of 2017. Hacken paid $7,500 to Christopher Greene, an Alternative Media Television (AMT) host, to review the ICO for his followers. The company chose Greene from a list of 200 prominent social media personalities within the cryptocurrency niche. He went on to produce a 25-minute video proclaiming that Hacken was a “huge market opportunity” with the potential to yield “1,000x returns.” The video, which has over 90,000 views, does not explicitly state that Greene received remuneration in exchange for producing the video. Instead, it simply directs viewers to a disclaimer on his website that concedes that he “may receive compensation for products and services.” Sponsored Content Sways Inexperienced Investors Larry Cermak, head of analysis at The Block, said he is concerned that sponsored reviews delivered by self-purported cryptocurrency gurus are driving new investors to make poor decisions. “The main reason why so many inexperienced individuals invest in bad crypto projects is because they listen to advice from a so-called expert,” he complained. Many unskilled investors “believe they can take this advice at face value even though it is often fraudulent, intentionally misleading or conflicted.” In a recent interview with Reuters, Hacken’s Budorin said that sponsored video reviews should feature tags identifying them as such. He added that the company’s decision to pay for positive reviews was “unethical.” Tim Glaus, co-founder of Swiss cryptocurrency ratings company Alethena, said the company has been approached by several individuals offering to arrange paid-for ratings from Icobench experts. Maxim Sharatsky, the chief executive officer of Icobench, acknowledged that the platform has accidentally published reviews that were sponsored by ICO issuers. “We have more than 16,000 ratings on our platform. Unfortunately, we have (had) accidents with sales (of) ratings, and it’s very bad. It’s a problem for me, for our platform and for all interested,” Sharatsky said. Icobench Authors Reprimanded for Paid Reviews Markus Hartmann, another Alethena co-founder, revealed earlier this year that he was contacted by two individuals in May offering to broker five-star ratings on Icobench for $500 each, for which the broker would take a $50 commission. Hartmann negotiated for two five-star reviews in exchange for $800 worth of ETH. The reviews were published within 30 minutes of finalizing the negotiations. Based on the speed with which the stories were published, Alethena believes that the sponsored reviews were written by Icobench authors Daniil Morozov and Antoly Bordyugov. Alethena’s public disclosure of the sponsored reviews prompted Icobench to conduct an investigation into the reviews. The investigation found that both authors had accepted payments in exchange for the reviews in question. Both authors were stripped of their “expert” status on the website and their reviews were deleted. Do you think that sponsored reviews influence the trading decisions of new investors? Share your thoughts in the comments section below. Images courtesy of Shutterstock At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? 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 ICOs Use Sponsored Reviews to Attract Investors appeared first on Bitcoin News. View the full article

Estonia, one of Europe’s most crypto-friendly nations, plans to tighten its licensing regime for cryptocurrency companies. The financial authorities in Tallinn want to introduce stricter regulations for fintech businesses registered in the Baltic country. Also read: Binance Terminates Services for Users in Belarus Regulators to Increase Oversight The Financial Intelligence Unit, the Estonian regulator issuing the licenses, has made a number of proposals to strengthen the rules for entities dealing with digital assets. The Ministry of Finance is currently preparing draft amendments to the country’s Anti-Money Laundering and Counterterrorist Financing Law, the local news outlet Äripäev reported. The revisions will be presented to the Council of Ministers for approval and then filed in the Estonian parliament for adoption. The ministry believes the anti-money laundering bureau should be tasked with inspecting all companies that provide services in the sector. The monitoring of their activities should ensure they are stable and maintain impeccable reputations. Once the new regulations are adopted, crypto businesses registered as Estonian legal entities will be required to keep their headquarters in the country. Companies registered in foreign jurisdictions will be obliged to establish subsidiaries in Estonia. The upcoming changes have been announced a year after the new Estonian Money Laundering and Terrorist Financing Prevention Act came into force. The act transposed into national law the provisions of the 4th Anti-Money Laundering Directive of the European Union, of which Estonia is a member. Crypto-Friendly Estonia Estonia is a trailblazer in Europe when it comes to adopting favorable regulations for the cryptocurrency industry. The small Baltic nation became the first country to introduce a licensing regime for companies in the sector. Many crypto businesses have been attracted by the opportunity to operate legally within a European jurisdiction. Since the adoption of the regulatory framework last year, the Financial Intelligence Unit has licensed close to 1,000 entities. The regulator issues two types of licenses. According to data quoted by the Estonian news outlet Err.ee, 444 wallet providers and 526 cryptocurrency trading platforms are currently licensed to operate in the country. Estonia is known for its developed e-government infrastructure and unique e-residency program, which provide private individuals and corporate entities with access to fast and efficient services. As news.Bitcoin.com reported recently, the application process for a crypto license takes only about two weeks. Meeting a number of know-your-customer and anti-money laundering requirements is an important precondition for approval. Estonia is one of several jurisdictions spearheading the adoption of crypto-friendly laws and rules in Europe, along with Switzerland, Belarus, Malta, Gibraltar and the Isle of Man. What are your expectations about the future of crypto regulations in Estonia and Europe? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post Estonia to Tighten Rules for Licensed Crypto Companies appeared first on Bitcoin News. View the full article

Thailand’s Securities and Exchange Commission (SEC) has reportedly clarified how existing laws can apply to crypto securities. In addition, Thai companies planning to issue securities tokens abroad would be guilty of wrongdoing under the Digital Asset Act for avoiding regulated fundraising channels. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Applicable Current Laws On Thursday, the Bangkok Post reported that Tipsuda Thavaramara, deputy secretary of the Thai SEC, revealed that “the regulator will have to consider how to deal with STOs [securities token offerings] for issues such as share ownership, voting rights, and dividends.” Thailand enacted cryptocurrency regulation in May. The country’s Digital Asset Act regulates cryptocurrencies and initial coin offerings (ICOs) and installs the Thai SEC as the main regulator of the crypto industry. However, STOs are not included within the scope of any current laws. The publication detailed: If STOs have conditions similar to other fund-raising securities, they could undergo processes similar to those for IPOs, thus coming under the SEC Act … STO trading could fall under the Digital Asset Act if fund-raising is carried out in the same manner as for ICOs. Thavaramara clarified, “At the moment, we have not decided whether STOs fall under the SEC Act or the Digital Asset Act,” adding that “it depends on the STO’s conditions and the details in its white paper.” She emphasized, “The SEC will have to consider carefully how to respond to each STO.” Thai Company Plans STO Launch in the US Thai cryptocurrency exchange operator Satang Corp. has announced a plan to launch its own STO in the U.S., the Bangkok Post also reported. Satang Corp. operates a crypto exchange in Thailand called Satang Pro, formerly Tdax. The exchange has been granted temporary approval to operate in Thailand while its full application is being reviewed by the Thai SEC. The company “recently said it would issue an STO in the first quarter of next year but file for fund-raising with the US’s SEC and list on the T-zero exchange in the US,” the news outlet wrote on Thursday. Overstock.com’s August filing with the U.S. SEC states that its Tzero platform aims to provide “current market participants the opportunity to access crypto-securities without having to incur switching costs.” The filing further describes, “Tzero represents a regulated bridge between the traditional securities markets and the fast-emerging world of crypto-securities.” According to the Bangkok Post, Thavaramara explained: An STO affiliated with Thai investors launching in an international market at this point would be guilty of wrongdoing under the Digital Asset Act. A company making such an STO launch would be trying to avoid regulated fund-raising channels, such as sales of ordinary shares or sales of digital assets via IPO portals. What do you think of Thailand’s approach to regulating crypto securities? Let us know in the comments section below. Images courtesy of Shutterstock, Satang Corp., Overstock.com, and Thai SEC. Need to calculate your bitcoin holdings? Check our tools section. The post Thai SEC Explains Two Laws Could Apply to Crypto Securities appeared first on Bitcoin News. View the full article

On Nov. 29, Sirin Labs announced the commercial launch of its new blockchain smartphone known as the Finney. According to the cellphone creators, the Finney offers “secure and state of the art mobile technology” alongside an embedded cold storage cryptocurrency wallet. Also read: Bloxroute Joins the Block Size Debate With New Block Propagation Service People Can Now Preorder the Finney Smartphone Sirin Labs has launched its flagship product the Finney phone, a mobile device named after the late Bitcoin developer Hal Finney. News.Bitcoin.com originally reported on the Finney phone back in May when it was revealed that Foxconn, the company that manufactures iPhones, helped Sirin Labs produce the new blockchain mobile device. This week, Sirin Labs announced the phone can now be purchased on the company’s official website for $999 and the product will also join the Amazon Launchpad program in January. The Finney mobile device specifically designed for cryptocurrencies can now be purchased for $999. The Finney phone’s pop-up touchscreen. According to the phone’s specifications, the mobile device has a 6-inch touchscreen display and is powered by an octa-core processor with 6GB of RAM. Finney runs on an operating system called Sirin OS, which is a fork of the Oreo software Android 8.1. The cryptocurrency features within the phone can be seen by using a second touchscreen that’s attached to the phone’s body. Sirin has explained that this is how the Finney device’s extra layer of security works because when the pop-up screen is used, all actions performed by the Sirin OS are encrypted. The Finney creators state that the second touchscreen has a firewall between the main operating system and claims the process makes the phone much harder to compromise. The cryptocurrency side-software has a program known as token conversion service (TCS) so the mobile phone’s owners can swap coins like BTC and ETH. Additionally, the phone has a 12-megapixel rear camera and a selfie camera with a design that’s very similar to the Solarin phone. The Solarin is another design created by Sirin Labs, but the Solarin carbon titanium 128GB version is a whopping $13,800 plus tax. The Finney model also comes with 128GB of storage and can be expanded upon with a micro-SD card. Lastly, the mobile device accepts a nano-SIM and can connect to traditional Bluetooth, NFC, and wifi networks. “Sirin Labs is also looking for strategic OEMs to implement Sirin OS in additional consumer devices,” the Barcelona-based company explained on Thursday. The Finney Smartphone Has a Competitor The new Finney cellphone is not the only mobile device specifically designed for blockchain security. Taiwanese consumer electronics manufacturer High Tech Computer Corporation (HTC) is also producing a cryptocurrency-centric phone. HTC has said the new “blockchain-powered” product will use a modified version of the Android operating system. The HTC Exodus 1 is also available for preorder on its website by reserving the phone with either BTC or ETH funds. At the moment the HTC Exodus 1 is priced at around 0.15 BTC or roughly $600 at the time of publication. The HTC Exodus 1 blockchain phone. With the new Finney phone launch, Sirin Labs has explained that the company is planning to open two flagship concept stores so the public can get an inside glimpse at the blockchain mobile device. According to the Finney manufacturer, the first concept store will open in London in December of this year and then another location in Tokyo in January of 2019. Sirin Labs emphasized during the announcement that the London store will also act as a blockchain academy for individuals in the community looking to learn about cryptocurrency solutions. What do you think about the Sirin Labs produced Finney phone? Let us know what you think about blockchain-centric mobile devices in the comments section below. 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. Images via Sirin Labs, the Finney phone, and HTC. Need to calculate your bitcoin holdings? Check our tools section. The post Sirin Labs Launches Blockchain-Centric ‘Finney’ Smartphone appeared first on Bitcoin News. View the full article