roadrunner

Ukrainians are increasingly aware of cryptocurrencies, and 13 percent of those using the Internet own digital coins, according to a new survey. The total of the daily turnover on the three leading cryptocurrency exchanges in the country currently reaches $2 million USD. Also read: Ukrainian Companies Mint 25 Coins, Raise $132 Million Majority of Ukrainians Know About Bitcoin A sizable majority of the respondents in an online survey in Ukraine have said they are aware of digital currencies – 72 percent of those questioned know what cryptocurrency is. Another 23 percent have heard the term, while 5 percent told interviewers they were hearing the word for the first time. Ukrainian men are better informed about coins – 81 percent, as well as youngsters – 79 percent. The poll has been conducted by Kantar TNS, the local representative of the marketing research firm Taylor Nelson Sofres (TNS). 1,000 residents, aged 18-55, have been contacted online throughout Ukraine, with the exception of the conflict zones in the eastern part of the country and Crimea. The results show that bitcoin (BTC) remains the most well-known cryptocurrency, with 98 percent of the Ukrainians with access to the web saying they know about it. It’s followed by litecoin with 29 percent and bitcoin bash (BCH), 27 percent. Fourteen percent of the participants recognize dash, and 6 percent – NEM. The authors of the study have also tried to determine how involved Ukrainians are with cryptocurrencies. According to their data, 13 percent of the respondents own digital money. Among them 88 percent have acquired bitcoin core (BTC), and 25 percent – bitcoin cash (BCH). 18 percent own litecoin, and dash and ethereum – 7 percent each. The rest either do not trust cryptocurrency, don’t have the technical means to acquire it, or do not understand its principles. Participants were asked if they thought cryptocurrencies should be treated just like regular, fiat money. The answer options yes/no/I don’t know received about a third of the votes each. A majority of 41 percent said authorities should support the free circulation of cryptos, 19 percent stated it should be banned by the government, and 37 percent had no opinion. Only 1 present of the polled believe regulation is necessary, while 2 percent think the state should not interfere at all. Ukrainians Trade $2 Million Worth of Crypto Daily Despite the lack of comprehensive data about the size of the Ukrainian cryptocurrency market, it has been estimated that the daily crypto-hryvnia turnover on the three major exchanges reaches $1.9 – $2 million USD (~$700 million a year), local media reported. Experts note, however, that the transactions on these trading platforms, Exmo, Kuna and BTC Trade UA, are only a part of the total. More than a dozen other platforms, as well as thousands of individual traders are offering exchange services, both online and offline. Other sub sectors are also contributing to the growth of the industry. “According to market sources, approximately $80 million have been invested in mining in Ukraine. About 90 – 95,000 Ukrainians own cryptocurrencies. The majority have invested small amounts in 2017 – 2018,” Ekaterina Belous, an expert working on the USAID “Financial Sector Transformation” project, told Realist. For the past several years, more than 50 high-ranking officials and members of parliament have declared digital assets on their tax returns. Do you expect the ownership of cryptocurrencies in countries like Ukraine to increase in the near future? Let us know 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 Pulse, another original and free service from Bitcoin.com The post Survey: 13% of Net-Savvy Ukrainians Own Cryptocurrencies appeared first on Bitcoin News. View the full article

50cycles, a specialist electric bicycle manufacturer, has revealed what it has described as the world’s first range of cryptocurrency mining e-bikes. Toba, the new series of crypto mining bikes, are estimated to generate approximately £20 (approximately $26.5 USD) worth of ‘Loyalcoin’ per 1,000 miles ridden. Also Read: Study Reveals ASIC Miners Represent 30% of the Equihash Mining Hashrate UK Company Reveals Cryptocurrency Mining E-Bike Founded in 2003, UK-based 50cycles describes itself as a specialist in “advanced electric bikes.” In what the company is claiming as a world first, 50cycles has revealed the ‘Toba’ – a cryptocurrency mining electric bicycle. The company’s founder and chief executive officer, Scott Snaith, told media “This is not only the first electric bike of its kind, but it will also be the first product ever to be tokenized and which issues reward for use.” Mr. Snaith describes the ‘pedal-powered crypto miners’ as being indicative of the company’s desire to engage with new technologies, stating “We have always been a company that moves ahead of the times by embracing the latest technology. Just like we saw the potential in electric bikes in Tokyo 15 years ago, we now see the promise and future in blockchain technology, cryptocurrency, and product tokenization.” Cyclists to be Rewarded in ‘Loyaltycoin’ Bike owners are unable to choose which cryptocurrency is mined, with each of the electric bikes exclusively mining for ‘Loyaltycoin’, a token which will be redeemable in exchange for products available on the 50cycles website, or can be exchanged for leading cryptocurrencies through Loyaltycoin’s platform. At the time of writing, Loyaltycoin appears to have only been trading for approximately ten days, with current prices appearing poised to fall to record lows below $0.0044 USD. Mr. Snaith stated, “At the moment we are working with Loyaltycoin to reward our customers but eventually the Toba bikes will have their own digital coin which will become one of thousands of currencies of the future, and the Toba will allow riders to become an integral part of its growth.” The Toba bikes will hold their unique private key as proof of ownership, and customers will be able to monitor how many Loyaltycoin tokens they have generated through a mobile app. The bikes are expected to be delivered to customers in September. Innovative Mining Experiments In recent years, the cryptocurrency community has witnessed increasingly creative attempts to recycle energy for the purpose of virtual currency mining. Last year, reports detailed the owner of a Tesla S who had installed a graphics processing unit (GPU) based cryptocurrency mining rig in his car to capitalize on the unlimited supercharging program made available to most owners of Telsa’s S and X models. Last month, Motherboard reported on “Lee” – a man who sought to repurpose the heat generated through cryptocurrency mining to warm his bath. Lee described his experiment as being “a little too effective,” stating that he “left it running all day as it produced baths of up to 122F/50C. Dangerously hot, especially as I have a few pets who could fall in if they somehow gained access to the bathroom. I took the experiment down to preserve the safety of my living space. Safety is an absolute priority to me.” What consumer products do you think will be next to mine for cryptocurrency? Join the discussion in the comments section below! Images courtesy of Shutterstock, Cyclingindustrynews 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 UK Company Launches Crypto Mining Electric Bicycle appeared first on Bitcoin News. View the full article

During a recent address to the Heritage Foundation in Washington, D.C, Jonathan Johnson, the former chairman and current member of the board for Overstock, sought to emphasize that payments in the form of bitcoin comprise a steadily growing source of revenue for the company. Also Read: Cryptocurrency Games Have Invaded the Most Popular App Stores Former Overstock Chair Detail’s Retailer’s Cryptocurrency Revenue Jonathan Johnson, the former chairman of Overstock, one of the first major companies to accept bitcoin as a means of payment, has detailed the revenues generated by the company in the form of cryptocurrency payments whilst speaking to the Heritage Foundation. “We have somewhere between $68,000 and $120,000 a week in cryptocurrency revenues; people buying sheets and toasters using bitcoin or Ethereum or other coins,” Mr. Johnson told the conservative think-tank. Advantages of Accepting Crypto Mr. Johnson sought to convince attendees of the advantages cryptocurrency offers to businesses over orthodox payments forms. The Overstock board member stated: “We pay a processing fee for credit cards, and we employ about 40 people in our fraud department. That’s a cost of doing business with credit cards.” “When we take cryptocurrency, we have a very small transaction fee with Coinbase, much smaller than our credit card processing fee, and we have no fraud prevention department. It’s like a cash transaction. For us, that is a much cheaper way of doing business,” Mr. Johnson added. Crypto as Democratizing Force The former Overstock chairman described cryptocurrency and distributed ledger technology as having a democratizing effect upon access to financial services and fundraising mechanisms. Mr. Johnson stated “Today, so many of us can’t participate in the capital markets the way accredited investors or well-connected investors can. And those of us that are trying to raise money have a hard time crowdfunding or raising money in a democratized way.” Despite praising the democratizing of fundraising processes through cryptocurrency, Mr. Johnson stated that Medici Ventures, Overstock’s investment firm of which he is president, “is not invested in a single ICO, in large part because the regulation around them is still very hazy.” Mr. Johnson also expressed his belief that the cryptocurrency sector should operate without regulation, stating “We should not be regulating this technology. If there are uses of it that need regulation, maybe.” Do you think that more retailers will begin accepting cryptocurrency payments? Share your thoughts in the comments section below! Images courtesy of Shutterstock, Medici Ventures 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 Overstock Generates “Between $68,000 and $120,000” in Crypto Weekly appeared first on Bitcoin News. View the full article

This week the Zcash Foundation and researchers from the University of Luxembourg have released a study that finds the presence of ASIC and FPGA miners may be controlling around 30 percent of the overall Equihash mining hashrate. The study speaks volumes to cryptocurrency developers and communities who have attempted to produce proof-of-work mechanisms that were meant to provide ASIC resistance. Also Read: Get Them While You Can Gamers, Graphics Cards Prices Have Crashed As of May 2018, Roughly 30% of the Equihash Mining Algorithm is Likely Mined by ASICs The ASIC-powered Antminer Z9 mini mines the Equihash algorithm. Over the past few weeks, there’s been a lot of discussion on the subject of application-specific integrated circuits (ASICs). The conversations have revolved around digital currency networks that have been threatened and even maliciously attacked to the point that coins are allowed to be double spent. Cryptocurrency proponents that hoped their favorite cryptocurrency consensus algorithm would defend the network are finding out they were sorely mistaken. Cryptocurrencies like Bitcoin Gold, Monacoin, and Verge have seen significant attacks on their networks and millions have been stolen or double spent by malicious actors. In the case of Bitcoin Gold (BTG), the cryptocurrency that hoped to be a ‘better bitcoin,’ used the Equihash algorithm modeled after the Zcash network. On May 23 someone took over more than 51 percent of the BTG hashrate and was able to double spend over $18Mn USD worth of BTG. A few weeks later the Zcash Foundation and the University of Luxembourg had decided to research how prevalent ASIC and FPGA miners are within the Zcash network and all cryptocurrencies that use the Equihash algorithm. “In the short period of time of this study (2 weeks) we could put an upper bound on the ASIC/FPGA potential presence in Equihash mining ecosystem as of the end of May 2018 at 20 – 30% of total mining operations,” explains the University of Luxembourg researchers Alex Biryukov and Daniel Feher. Most of the mining power (95%) is concentrated in pools so any large hidden ASIC/FPGA operation should be present in one or several of the pools. Moreover, four pools concentrate 87.5% of the total mining power. The Zcash Foundation Has Dedicated R&D Efforts Towards ASIC Resistance The Zcash Foundation explains in there official ASIC resistance stance that they have been developing “ASIC resistance as an option while simultaneously researching ASIC resistance.” Essentially, Alex Biryukov and Daniel Feher detail that ASIC miners are present within the network hashrate of coins that utilize the Equihash algorithm, and have presented their estimates specifically for the Zcash Foundation. However, the research team concludes that the study needs further research, and detecting ASIC miners is not so easy and data can be manipulated. “It is important to note that our current methods can be ‘fooled’ by careful ASIC miner and the methods are also not fine-grained enough to detect ASIC miner testing of few % of the total hash-rate — This is a work for further research,” the University of Luxembourg team concludes. What do you think about the study that says roughly 30 percent of the Zcash hashrate is processed by ASICs? Let us know your thoughts on this subject in the comment section below. Images via Shutterstock, Bitmain, and the University of Luxembourg research paper. 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 Pulse, another original and free service from Bitcoin.com. The post Study Reveals ASIC Miners Represent 30% of the Equihash Mining Hashrate appeared first on Bitcoin News. View the full article

Bitcoin and the vast array of cryptocurrencies within the digital asset economy have become extremely popular these days, and one reflection of this metric is how many games can be found trending on the most popular app stores. There are many games available that allow gamers to create their own virtual mining farms, simulate trading cryptocurrencies, and games that even reward people in micropayments. Also read: Get Them While You Can Gamers, Graphics Cards Prices Have Crashed Cryptocurrency Games: Your Chance to Be a Virtual Mining Tycoon and Bitcoin Billionaire Have you ever wanted to try testing your luck in the cryptocurrency markets, but don’t want to lose real money? Or maybe you’ve contemplated creating a mining empire, but only have enough coin in the bank for a couple measly machines. Well, now people with some imagination and a love for games can find a wide array of gaming apps at Apple’s App Store and Google Play. Not too long ago, there were only one or two cryptocurrency related games like Bitcoin Millionaire on the app stores, but nowadays there’s a ton of different recreational apps where you can do various bitcoin-related things, and some of them even pay out a few cents in crypto if you play them long enough. Bitcoin Mining Simulator One fun game called Bitcoin Mining Simulator (BMS) allows you to become a bitcoin mining tycoon. Basically, the mining simulator allows you to purchase virtual rigs in order to mine bitcoins and profit from selling them at market value. The game starts with a few simple machines until you can get enough coins to purchase your own mega farm. Essentially the game created by the developer Aliaksandr Prakarym allows the player to continuously improve the farm in order to get a return on the investment (ROI). The BMS app is also available on both iOS and Google Play. Bitcoin Evolution Bitcoin Evolution is very much like the classic app Bitcoin Millionaire as it allows a person to become filthy rich by earning bitcoins by tapping — And who doesn’t like incessantly tapping their phone? Again, like the many other games that yearn to be original, Bitcoin Evolution starts you off by running your own virtual bitcoin business where you mine coins from your own farm and gather profit by selling them. “Invest your virtual mined income thoughtfully and grow your virtual bitcoin firm — Soon you will be the most popular virtual bitcoin capitalist and earn billions with your smart business,” explains the developer, Romit Dodhia. But be aware that you will face all the problems that a successful merchant needs to go through. And don’t forget to launder your money! Bitcoin Miner: Clicker Game The recreational Bitcoin Miner: Clicker Game (BM) is an iOS mining simulator that allows you to earn bitcoins, obtain more computers and luxury automobiles. The game is very much like the aforementioned bitcoin mining simulators above, but with different graphics. BM allows the person to create their own farm and develop it more to profit. “Interested in mining but afraid to try in real life?” asks the development team 99 Drones B.V. “ Don’t worry — Mine in this game to get a taste for free — It’s time for you to start mining.” Crypto Rider Now the game Crypto Rider is funny and original as it’s a two-dimensional racing game where the tracks are the real-life historical price charts of popular cryptocurrencies. The racing app featured on Google Play and created by Superfly Games allows racers to collect blocks to unlock nine crypto-themed vehicles. “Fed up of watching all the price dips? Well, now you can ride them,” the developers’ detail. Compete for the top spot on global leaderboards! Shill your high score to your friends with the sharing feature. Bitcoin Flip The iOS trading simulator Bitcoin Flip teaches gamers how to trade cryptocurrencies. The game is good for investors just learning how to trade digital assets. Bitcoin Flip instructs users on how to trade Bitcoin Cash, Nano, Tron, Vechain, Steem, Ethereum, Litecoin, and Dashcoin. The simulation follows real-time cryptocurrency spot prices with a 0.0005-second accuracy. Further, the platform starts players off with $5,000 (virtual dollars) to invest in and collect or lose virtual gains. Essentially, Bitcoin Flip gives people a chance to learn how to trade but can also be used for pure amusement. Bitcoin Bricks The Android game Bitcoin Bricks created by Joy Soft is a Tetris-like puzzle game that pays BTC micropayments for every game field filled. Joy Soft says instead of rewarding people with “useless points”, Bitcoin Bricks players get 0.00000001 BTC for every filled row and withdrawals are allowed after a certain threshold. After filling rows and collecting a micropayment, the BTC balance is shown above the game board so people can view how many coins they have earned. The Blockchain Game The Blockchain Game is another iOS strategy tournament that involves players building the longest blockchain and winning BTC. Just like Bitcoin Bricks, users add their BTC wallet address and they can begin trying to earn micropayments. The basic concept of the game is stacking blocks in order to create the longest chain. Just like in the real world, the virtual blockchain with the longest concession of blocks gives players a higher reward payout. Games Can Be Fun and Addictive but Remember Time Is Money There are so many cryptocurrency and blockchain games these days that this post could go on forever. However, lots of them lack originality and are mere copy-cats of games that simulate mining, or allow players to become a virtual bitcoin billionaire tycoon. The games are definitely amusing if you are a crypto-enthusiast, and some of them are educational, and even payout small amounts of cryptocurrency. Even though some games advertise the rewards as ‘free BTC,’ the incentives are not really ‘free.’ One reviewer explains how he spent a whole week playing a ‘free bitcoin game’ app for hours and earned a whopping $0.35 cents in BTC. So unless you consider your time as ‘free,’ that description is a bit misleading, but the games can be fun and addicting. So if you want to burn some time, head over to Google Play or Apple’s App Store and search “bitcoin” or “cryptocurrency games,” and you may find yourself losing hours of your life just to earn a 35 cents in crypto. What do you think about all the cryptocurrency games in the app stores these days? Have you played any of these games? Are there any fun games we didn’t mention that you like to play? Let us know your thoughts on this subject in the comment section below. Images via Shutterstock, the App Store, Google Play, Bitcoin Miner Clicker Game, The Blockchain Game, Bitcoin Bricks, Bitcoin Flip, Crypto Rider, Bitcoin Evolution, and Bitcoin Mining Simulator. Need to calculate your bitcoin holdings? Check our tools section. The post Cryptocurrency Games Have Invaded the Most Popular App Stores appeared first on Bitcoin News. View the full article

‘Fair’ mining and privacy altcoin, Monero (XMR), shed $175 million as a result of malicious miners hijacking what amounts to an eye-popping 5% of XRP in circulation. The findings come by way of a cyber security researcher in Northern California, investigating a noticeable trend uptick in mining thievery generally. Also read: William Shatner Joins Bitcoin Mining Project, Admits He Doesn’t Quite Get It 5% of Circulating Monero Snatched by Malicious Mining In preparation for the company newsletter, Unit 42, Palo Alto Networks researcher Josh Grunzweig blogged, The Rise of the Cryptocurrency Miners. It’s his effort to document a growing trend over the last year, malicious mining. Mr. Grunzweig’s frequent investigations on the subject caused him to dive deeper into the particulars. He came away with two critical findings: 1, malicious mining has indeed grown, and in direct relation to the giant price spikes of 2017; 2, Satoshi Pulse ranked 14th most valuable coin by market capitalization, Monero, has lost over $175 million, 5% of its present circulation, to malicious mining activity. Breakdown of cryptocurrencies targeted by malicious miners. Palo Alto Networks Palo Alto Networks is a publicly traded (NYSE: PANW) cyber security company, focusing mostly on proprietary firewall solutions. It boasts almost $2 billion in revenue last year, with a global service reach of 50,000 customers in 150 countries, employing more than 5,000 people around the world. Mr. Grunzweig “extracted a total of 2,341 Monero wallets from the analyzed sample set,” he explained in the post. “Unlike some other cryptocurrencies, it is impossible to query the Monero blockchain to extract a single wallet’s current balance without the owner’s password. This is by design: a result of how Monero was originally designed. As such, I needed to take a different methodology in order to determine how much money attackers were able to mine.” Japanese Police Begin Coinhive Investigation “Fortunately,” he mentioned, “in addition to the wallets, I was also able to determine which mining pools were used for various mining efforts. Looking at the top ten mining pools used by this malware, I determined that all but one allows for anonymous viewing of statistics based off of the wallet as an identifier. This anonymous viewing is intentional, as it allows users to anonymously connect and use various mining pools without inputting any personal identifiable information.” Instances where a new cryptominer sample was discovered over time. Palo Alto Networks Almost in passing, he refers to one “interesting note,” namely “that the total Monero represented roughly 5% of all Monero in circulation at the time of writing. This of course doesn’t take into account web-based Monero miners, or Monero miners that we do not have visibility into. As such, we can assume that the actual percentage of Monero in circulation that was mined via malicious activity is actually higher.” He concludes by suggesting the malicious trend has leveled off some due to prices plummeting in recent months, noting it “is clear that such activities have been incredibly profitable for individuals or groups who have mined cryptocurrency using malicious techniques for a long period of time. A total of $175m has been found to be mined historically via the Monero currency, representing roughly 5% of all Monero currently in circulation.” Research revelations came around the same time Japanese police announced they’re investigating suspects employing Coinhive, a mining script used in Monero, focusing on thefts similar to those mentioned above. What do you think about Monero? Let us know in the comments. Images via the Pixabay. 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 Pulse, another original and free service from Bitcoin.com. The post Malicious Monero Miners Made Off with 5% of Coins in Circulation, Over $175 Million appeared first on Bitcoin News. View the full article

Ibinex, a company that specializes in white-label solutions for cryptocurrency exchanges, has obtained a license to operate in Estonia. Besides exchange services, it also plans to offer both hot and cold wallets within the regulatory framework of the tech-savvy, crypto-friendly Baltic nation. Also read: Estonia Grants Licenses for Wallet and Exchange Services to Coinmetro EU Registered Exchange and Wallet Provider Authorities in Estonia have granted a license to Ibinex, a provider of white-label solutions for crypto exchanges and cryptocurrency trading software. In a post in the news section of its website, the company called the development “a big feather in the cap,” noting that it compliments its membership in The Financial Commission, an independent self-regulatory organization, since August, 2017. The new Estonian license will allow Ibinex to provide a wide variety of exchange services and solutions for cryptocurrency traders, including fiat to crypto, crypto to fiat, and crypto to crypto transactions. The firm effectively enters the cryptocurrency exchange sector as a trading platform registered in an EU jurisdiction. Ibinex is not going to restrict itself to only exchange operations. The company plans to start providing crypto wallet services, as well – both hot and cold wallets, which will be offered within the Estonian regulatory framework, the press release quotes its Chief Executive Officer, Simon Grunfeld. Ibinex will generate unique security keys for its users and will safely keep their encrypted keys. The platform will also offer storage and transfer of cryptocurrencies for their clients. “This is the first of many licenses and registrations to come. Ibinex is excited to be one of the first licensed exchanges to be in accordance with Estonian legislation,” Grunfeld commented. The CEO of Ibinex also noted that “We’re seeing more formations of regulatory rulings for cryptos in the EU region, and due to this progressive stance, companies like ours can find a compliant framework, from which to operate under.” A Crypto-Friendly European Jurisdiction Estonia, one of the smallest European nations in terms of both territory and population, became the first EU member-state to propose the creation of a national cryptocurrency. Tallinn has recently backpedaled on its plans to issue the “Estcoin”, following criticism from the European Central Bank. In September, the bank’s president, Mario Draghi, stated that “No member state can introduce its own currency” in the Eurozone. Nevertheless, the government intends to proceed with a limited scale project and Estcoin may eventually be used to support transactions within the Estonian e-resident community. The program has issued ID cards to 35,000 foreign nationals so far, the majority of which are from Finland, Russia and Ukraine. This and other decisions and comments by Estonian officials prove that the country remains a truly crypto-friendly jurisdiction, willing to open its doors to more and more companies from the industry. Earlier this month, authorities in Tallinn granted licenses for wallet and exchange services to Coinmetro, another cryptocurrency trading platform which will operate from within the European Union. Estonia’s neighbors are definitely not lagging behind. Cryptocurrencies are gaining popularity throughout the Baltic region, where businesses from multiple sectors, including real estate, online trade, the hospitality industry, and even healthcare, are already accepting crypto payments, as news.Bitcon.com reported. Some of them are offering their services globally. Latvia has partially recognized cryptocurrencies for taxation purposes. Authorities in Riga said that bitcoin could “function as a means of exchange” and 20% tax was imposed on capital gains from crypto deals. Meanwhile, Lithuania has adopted comprehensive guidelines for cryptocurrency and initial coin offerings. According to some reports, the country accounts for up to 10% of all funds raised through ICOs last year. Do you expect more crypto companies to obtain licenses in Estonia and the neighboring Baltic states? 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 Pulse, another original and free service from Bitcoin.com The post Estonia Grants License to Crypto Trading Software Provider Ibinex appeared first on Bitcoin News. View the full article

The government of Venezuela has started monitoring the bank accounts of its citizens for cryptocurrency-related transactions. Accounts found to contain crypto transactions at prices which the government considers to be “undermining the national currency” will be “severely punished,” Vice President Tareck El Aissami said. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Next Phase of Operation Paper Hands Following the launch of “Operation Paper Hands,” as news.Bitcoin.com previously reported, the Venezuelan government has initiated the next phase of its plan to reduce capital flight, calling it “Operation Metal Hands.” Tareck El Aissami. This new phase was launched last week with a focus on what they call “gold smugglers,” or Venezuelans who bought gold from small miners and then sold it outside of the country. The operation has “detected that these mafias have distorted the prices of the dollar,” the country’s Vice President Tareck El Aissami declared, adding that “they have migrated through the market of cryptocurrencies to hit the Venezuelan monetary system.” The operation further targets capital flight via cryptocurrencies. El Aissami explained that the government will start monitoring bank accounts for crypto-related transactions and will prosecute those trading them “at speculative prices.” “This is part of a war to hit the financial system of the country,” Aporrea publication stated, “and they [the government] will exercise future actions to hit those who try to conspire through cryptocurrencies.” The Vice President was quoted by La Red publication: All the accounts that we identify that are linked to the manipulation are going to be severely punished and (those responsible will be) placed at the order of justice. He revealed that, as part of Operation Paper Hands, “5 billion bolivares [~US$50,000] in bank accounts were frozen at Banesco bank, and 12 trillion bolivares [~$120 million] were seized that were destined for contraband in Colombia,” Aporrea publication conveyed. Three Remittance Houses Legalized Since the launch of Operation Paper Hands, three remittance houses were shut down, including two crypto exchange operators. However, the government soon realized that underground cryptocurrency transactions did not cease. This led the Vice President to announce last week that three money exchangers in Caracas have been specifically authorized to handle the country’s foreign exchange transactions and remittances. He was quoted by Correo Del Orinoco: We have authorized three exchange houses, private companies, private exchange operators, legally authorized, to perform all operations associated with remittances. The three exchanges are Zoom, Italcambio, and Insular. However, their websites do not indicate that they deal with cryptocurrencies in any way. For the purpose of buying and selling cryptocurrency specifically, the Venezuelan president, Nicolas Maduro, announced in April that he had certified 16 exchanges with the aim for them to list his country’s own digital currency, the petro. What do you think of Venezuela monitoring bank accounts for crypto transactions? Let us know in the comments section below. Images courtesy of Shutterstock and Wikipedia. Need to calculate your bitcoin holdings? Check our tools section. The post Venezuela Begins Monitoring Bank Accounts for Crypto Transactions appeared first on Bitcoin News. View the full article

The last 24 hours have been action-packed for the cryptocurrency markets, with digital assets rising off the SEC’s pronouncement that ethereum is not a security. But while most hodlers were toasting the agency’s announcement, one top five coin that failed to respond favorably was ripple. In today’s Bitcoin in Brief we consider where the SEC’s statement leaves XRP and examine a proposed solution to 51% attacks. Also read: Get Them While You Can Gamers, Graphics Cards Prices Have Crashed While Cryptos Leap, Ripple Stagnates We live in strange times when an agency tasked with stamping out market manipulation is responsible for causing the biggest green candle in weeks. Two years ago, many cryptocurrency traders would have struggled to tell you what the SEC did, let alone named its chairman Jay Clayton. But in this new era of blanket regulation, not only is the crypto community familiar with the inner workings of the US Securities and Exchange Commission, but they’re dependant on it to boost their flagging portfolios. Around the same time an SEC executive was opining that ethereum does not constitute a security, EOS finally reached the 15% voting threshold required to launch the network. This dual infusion of bullish news saw most major cryptos leap in price, with ETH and EOS the biggest beneficiaries. But while crypto hodlers partied, one altcoin community was left to stew in a corner. Ripple has seen a slender increase of just 0.5% in the past 24 hours, as the SEC’s definition of securities has left its status unclear. XRP was one of the few coins that failed to respond positively to the SEC’s news The full speech from the SEC’s head of the Division of Corporate Finance William Hinman includes a series of questions for identifying whether an asset is likely to be deemed a security. These include: Is there a person or group that has sponsored or promoted the creation and sale of the digital asset, the efforts of whom play a significant role in the development and maintenance of the asset and its potential increase in value? Has this person or group retained a stake or other interest in the digital asset such that it would be motivated to expend efforts to cause an increase in value in the digital asset? Has the promoter raised an amount of funds in excess of what may be needed to establish a functional network, and, if so, has it indicated how those funds may be used to support the value of the tokens or to increase the value of the enterprise? Does the promoter continue to expend funds from proceeds or operations to enhance the functionality and/or value of the system within which the tokens operate? Do persons or entities other than the promoter exercise governance rights or meaningful influence? It’s unlikely that the SEC is going to start making a habit of naming which coins do and don’t constitute a security. But it’s also unlikely, going by those questions, that ripple could be interpreted as as utility token. An End to 51% Attacks? Another altcoin that had a very good Thursday was Zencash. It’s bounced back from a recent 51% attack, jumping 17% off the news that Grayscale, led by Barry Silbert, will be making the coin its ninth investment. The group’s portfolios start at $400 million, rising to over $1.2 billion for bitcoin core. The Grayscale news helped the price of ZEN soar, but the more important story was the new whitepaper the team released on Thursday, which has implications for all Proof of Work coins. In the document, Zencash propose changing Satoshi Consensus, also known as the longest chain rule, to a method that makes it “both technically infeasible and economically disastrous to attempt double spending”. ZEN aims to achieve this by introducing a penalty “in the form of a block acceptance delay in the amount of time the block has been hidden from the public network”. The team now hopes that other PoW coins will adopt this proposal with a view to mitigating further 51% attacks. Bestmixer on the Difficulties of Maintaining Anonymity Bextmixer has responded to concerns about its mixing technology You won’t find KYC on Coinmarketcap, but in the SEC-led compliance era, you’ll find that abbreviation at most on and off-ramps to the world of cryptocurrency. A couple of weeks ago, we reported on Bestmixer, a new bitcoin tumbler trying to restore privacy to cryptocurrency users who desire it. The team behind the project has since contacted news.Bitcoin.com to reassure users that Bitmixer’s coin mixing code is not used to track them. They explain: “This functionality is necessary for any mixer…without such functionality any mixer can not be considered anonymous…We have to mark transactions because without marking transactions, we would not understand whether it is your money or not when you repeat mixing; it would be technically impossible. Thus, we protect our clients from return of their old coins to them during subsequent mixing. The marking excludes our clients’ deposit from the common pool, so that they can not use it if the BestMixer code is applied.” They add: “The BestMixer code is necessary to protect a client from getting his old coins back under any circumstances – this is one of the key points on which the system is based. As for the use of the [premium service] Gamma pool there is no need to use the BestMixer code in this pool at all, since it is a separate pool, not tied in any way to either Alpha or Beta pool. How are the funds formed in this pool? It’s either investors’ money or our own reserves. And this pool is really going to be a big problem for startups like Chainalysis.” Today Was a Good Day All told, this week has ended a lot better than it began for cryptocurrency holders, unless you’re one of the five Floridians indicted for an $800,000 bitcoin home invasion robbery. Elsewhere, with decentralized cryptocurrencies such as BTC and ETH reveling in their non-security status, Xapo relishing its New York Bitlicense, and Zencash hopeful of a breakthrough in defending 51% attacks, there’s a lot of reasons to be cheerful right now. Don’t get too comfortable though: tomorrow’s a new day, with the potential to bring joy or jet lag to the restless cryptocurrency markets. As always, you’ll find the best and worst of it here in Bitcoin in Brief. Do you think ripple is a security token and what are your thoughts on Zen’s proposal for stopping 51% attacks? Let us know in the comments section below. Images courtesy of Shutterstock, Zencash and Twitter. Need to calculate your bitcoin holdings? Check our tools section. The post Bitcoin in Brief: Halting 51% Attacks and Where Now for Ripple? appeared first on Bitcoin News. View the full article

Taxpayers in Russia have started declaring incomes and profits from crypto transactions even before cryptocurrencies are legalized in the country, results from this year’s tax campaign show. The Finance Ministry has again clarified the applicable tax rules, while the State Duma is still fine-tuning the upcoming regulations. Also read: Russian Railways Eyes Crypto for Tickets, Blockchain for Cargo One Conscientious Taxpayer A resident of the Altai Republic, a subject of the Russian Federation, has for the first time declared income obtained through purchases and sales of cryptocurrency, the Federal Tax Service reported on its website. The announcement is based on results from this year’s tax collecting campaign, the authority noted. Taxpayers must declare their tax obligations no later than April 30 of the year following the taxation period, the Service reminded. The tax base for crypto transactions is calculated in rubles. It represents the excess amount of the total received from the sale of cryptocurrency over the total of the expenses for its acquisition. In the absence of special rules, residents dealing in crypto are expected to follow the established general procedures. The clarification notice reflects recently issued instructions, which Minfin sent to regional tax inspectorates in a letter dated June 6. Noting the lack of dedicated provisions, the ministry said taxpayers could reduce their taxable crypto income by deducting the incurred and documented expenses for the purchase of crypto assets. In case of ambiguity, the tax legislation is interpreted in favor of the taxpayer. Some Questions Remain The question that many in the Russian crypto community are still asking is what the special crypto tax rules would look like. That should be decided by the Council of Ministers and the Central Bank of Russia (CBR) before July, 2018, as requested by President Putin. Officials have made different proposals but the ultimate decision depends on the legal of cryptocurrencies, which has yet to be determined. The State Duma, the lower house of Russia’s parliament, has supported on first reading three draft laws aimed at regulating the country’s crypto sector. The bills – “On Digital Financial Assets,” “On Attracting Investments Using Investment Platforms” and “On Digital Rights” – should be adopted by the end of June. Choosing the exact terms to define cryptocurrencies, however, has proved to be a difficult task. The chair of the parliamentary Financial Market Committee, Anatoliy Aksakov, told journalists this week that “digital money” and “digital currency” will be removed from the drafts and replaced with the legal concept “digital rights.” A similar comment was made earlier by Russian Prime Minister Dmitry Medvedev. The legal status of cryptocurrencies will directly affect the taxation of their transactions. Tax Breaks for the Self-Employed A new tax regime for self-employed Russians is expected to enter into force from July, next year. Its provisions will also affect those engaged in crypto-related activities, including miners and traders of digital assets, owners and clients of cryptocurrency exchanges. A survey conducted a couple of months ago showed that cryptocurrency is the main source of income for 12% of Russian crypto users. As a preliminary estimate, Russia has all the prerequisites to become a crypto-friendly jurisdiction, when it comes to taxation. Income tax in the country is only 13%. According to an earlier communication by the Finance Ministry, Russians are expected to pay the same flat rate on their crypto-related incomes. The recommendation was issued in response to an enquiry filed in October, last year. As part of the new tax regime, it has been proposed to adopt even lower rates for self-employed Russian residents – 3% for natural persons and 6% for corporate entities. These changes may be introduced in Russia’s regions first, as early as the beginning of 2019. In comparison, income tax rates in countries like Japan and France reach more than 50%. Do you expect Russia to become a crypto-friendly country as far as taxation is concerned? 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 Pulse, another original and free service from Bitcoin.com The post Crypto Incomes Declared on Tax Returns in Russia appeared first on Bitcoin News. View the full article

With demand for cryptocurrency mining hardware having sharply declined following the onslaught of 2018’s bear market, reports are indicating the companies operating in the supply chain behind mining hardware are increasingly seeking alternative revenue streams to offset falling demand from the mining industry. Also Read: SEC Executive: ‘Cryptocurrencies with Decentralized Structures Not Securities’ Cryptocurrency Bubble Pops for Mining Hardware Supply Chain Between April 2017 and March 2018, the virtual currency mining hardware manufacturing industry appeared unstoppable. Last year, the multi-year cryptocurrency bull trend was accelerating toward its peak, drawing with it unprecedented media coverage of the virtual currency markets. With demand for mining hardware at unprecedented levels, companies operating within the supply chain manufacturing mining devices were reporting record sales and witnessing all-time high stock prices. At one point, China’s leading ASICs supplier, Bitmain, was briefly ranked as one of the top ten clients of the world’s largest semiconductor manufacturer, Taiwan Semiconductor Manufacturing Company (TSMC). Profit Projections Slashed According to a report from Digitimes, the party is well and truly over for Taiwanese suppliers of graphics processing units (GPUs), who “have seen their inventories pick up rapidly, and their sales prices have declined to the levels seen in early 2017.” The report, citing “industry sources,” asserts that “[GPU] suppliers may be forced to return to the gaming market to renew growth momentum in second of the second half of 2018.” In April, CNBC reported that Wells Fargo Securities had slashed its profit forecast for Nvidia due to “falling demand for GPUs [graphics processing unit] used in cryptocurrency,” according to Wells Fargo analyst, David Wong. Later that month, TSMC reduced its projected earnings in response to waning demand for mining hardware. Taiwan’s Gigabyte Technology is also expecting to sell less than 10 million motherboards in 2018 due partly to shrinking demand for mining hardware. ASIC Manufacturers Turn to AI for Alternative Revenue Stream Whilst GPU manufacturers are able to refocus their efforts on the gaming market, suppliers of application specific integrated chip (ASIC) miners are exploring alternative revenue streams in order to offset declining demand for mining hardware. In a recent interview with Fortune, the co-founder and co-chief executive officer of Bitmain, Jihan Wu, was asked of the company’s “priorities over the next few years” – to which Mr. Wu replied investing further resources in the research and development of mining rigs, that “Bitmain will also start to deploy lots of artificial intelligence products into the market.” Canaan Inc., the world’s second largest ASIC manufacturer, is also looking to the artificial intelligence (AI) markets to bolster its profits, with the prospectus for the company’s proposed initial public offering indicating that it plans to focus on producing chips for AI applications. Do you think that demand for mining hardware will see a resurgence in the foreseeable future? 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 Mining Hardware Supply Chain Seeks Alternative Revenue Streams Amid Declining Demand appeared first on Bitcoin News. View the full article

Research has indicated that Irish attitudes regarding cryptocurrency are increasingly positive, with the Irish cryptocurrency user base estimated to have quadrupled in last four years. Also Read: Ireland Clarifies Taxation of Crypto Transactions Study Finds Irish Crypto Sentiment to be Moving “From Suspicion to Curiosity” A study carried out by Amárach Research in partnership with communications firm Red Flag has found Irish citizens to be viewing cryptocurrencies in an increasingly favorable light. The survey queried 1,000 Irish citizens aged over 16 years, and claims to be “the first in a series” of polls examining Irish engagement with financial innovations. The research estimates that 120,000 Irish citizens currently own cryptocurrency, a 300% increase in four years. In total, the study estimates that 180,000 Irish citizens have at some point owned BTC. General awareness of cryptocurrency appears to have substantially increased following the significant media coverage of last year’s bull run, with 85% of respondents indicating that they were familiar with bitcoin – up from less than half of Irish adults in 2014 as was found in a separate study conducted by Amárach. Millennials are Three Times More Likely to Own Cryptocurrencies Unsurprisingly, millennials were found to be the demographic most likely to engage with cryptocurrency, with 25 – 34 year olds estimated to be three times more likely to own crypto assets than the average person. Despite the significant uptick in Irish crypto user adoption, Gerard O’Neill, the chairman of Amárach, stated that “Cryptocurrency advocates still have a long way to go in driving higher adoption in Ireland.” Deirdre Grant, managing director of Red Flag Ireland, concluded that “This is a fast-growing sector in Ireland, particularly among young men. But, the level of understanding is still quite low, with one in eight respondents believing [cryptocurrencies] are used mainly by criminals.” Irish Regulators Provide Tax Guidance for Crypto Users Last month, Ireland’s Revenue Commissioners published a manual seeking to provide clarity regarding the tax obligations of the nation’s cryptocurrency users. The document asserted that businesses and individuals transacting in cryptocurrency will be taxed according to existing regulations, with gains and losses on cryptocurrency trades accruing capital gains tax for individuals and corporate tax on chargeable gains for companies. Do you think that cryptocurrency is a topic that most people are now familiar with? Join the discussion 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 Study Finds Irish Crypto Userbase to Have Quadrupled in Four Years appeared first on Bitcoin News. View the full article

The South Korean government is reportedly seeking to bring cryptocurrency exchanges under the direct supervision of the country’s Financial Intelligence Unit. This will obligate crypto exchanges to follow anti-money laundering directives like banks do. This is the first time a government agency has said it will oversee crypto exchanges. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space AML Obligations The Korea Financial Intelligence Unit (FIU), under the supervision of the Financial Services Commission (FSC), recently held an Anti-Money Laundering Policy Advisory Committee meeting. The meeting was set up to discuss measures against money laundering and terrorism financing activities. “We plan to include virtual currency exchanges under a direct supervision of the AML / CFT (Anti-Money Laundering/ Countering Terrorism Financing) system,” the committee was quoted by Maeil Business. Citing that “the legislation has already been introduced in the National Assembly,” the news outlet elaborated: This is the first time government agencies have said they will oversee virtual currency exchanges…When the bill is passed, virtual currency exchanges will be obliged to monitor the suspicious money-laundering transactions and report them to the FIU. The Need for Direct Supervision Currently, the FSC and the FIU have no jurisdiction over crypto exchanges since cryptocurrencies are not considered financial assets. The regulators have to monitor money-laundering activities of crypto exchanges through banks. With the proposed changes, according to the committee, “If a virtual currency exchange does not comply with these obligations, the FIU or the entrusted FSS [Financial Supervisory Service] will be able to inspect the monitoring system of the virtual currency exchange,” the publication conveyed. According to the Hankyoreh, the FSS said that it will also tighten its oversight of banks that provide virtual accounts to crypto exchanges. For example, banks must report deposits of more than 10 million won per day or more than 20 million won over 7 days for crypto transactions to the FIU as suspicious transactions that could lead to money laundering. Crypto Industry’s AML Measures Recently, South Korea’s top cryptocurrency exchanges have been ramping up their AML measures. One of the largest crypto exchanges in the country, Bithumb, has recently implemented some strong anti-money laundering measures. Last month, the exchange blocked the trading of 11 countries as well as tightened its verification process for foreign users. The exchange also lowered the withdrawal limits for crypto traders that do not fully verify their identity. The third largest exchange in the country, Coinone, also said that it is implementing similar withdrawal limits for accounts not using the real-name system. Another major exchange, Upbit, has an anti-money laundering system in place in collaboration with Thomson Reuters. The exchange recently rewarded six people for reporting fraudulent cryptocurrency schemes. What do you think of Korean government agencies wanting direct supervision over crypto exchanges? Let us know in the comments section below. Images courtesy of Shutterstock, Bithumb, and the FSC. Need to calculate your bitcoin holdings? Check our tools section. The post South Korean Government Agency Seeks Direct Supervision Over Crypto Exchanges appeared first on Bitcoin News. View the full article

Over the past ten months, the Bitcoin Cash network has received a lot of support from cryptocurrency companies that provide infrastructure support including exchanges. Even though other digital currencies have yet to obtain such success in so little time, some BCH proponents are in search for an exchange that uses bitcoin cash as the base currency, and many believe trading platforms that offer this feature will be key to mass adoption. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Coinex: The Exchange That Uses Bitcoin Cash as Its Base Currency Most cryptocurrency exchanges use bitcoin core (BTC) as the base currency that is traded against various other digital assets. At the moment bitcoin cash (BCH) only has three exchanges that use the decentralized cryptocurrency as a base currency and one of them just launched its beta release this past May. At the moment the most popular exchange that offers BCH base currency pairs is Coinex. The firm Viabtc announced the launch of Coinex back in December of 2017 and the trading platform offers BCH pairs with the most popular digital assets in the crypto space. Viabtc’s chief operating officer, Sara Ouyang, explained that because BCH network fees were so low it prompted the firm to create the markets with bitcoin cash as the base currency. “The reason we chose [BCH] over [BTC] is that it has much faster transactions with low fees and better performance in terms of usability,” Ouyang detailed at the time. Coinex Bitcoin Cash markets. Coinex is also available on mobile operating systems like Android and iOS and provides global trading services in nearly 100 countries. Further, Coinex offers HTTPS and two-factor authentication and claims its cold storage funds are held by using a multi-signature strategy. Panda Exchange Provides Traders With Bitcoin Cash Trading Pairs Another trading platform that offers BCH pairs is the Panda Exchange — a cryptocurrency exchange that provides bitcoin cash pairs with ETH, ZEN, XRP, LTC, BTG, and others. The Panda Exchange is open to residents in the U.S., South America, Canada, and Portugal. The exchange recently announced that it has added a slew of new pairs and more will be added in the future. The Panda Exchange offers BCH pairs traded against various cryptocurrencies such as LTC, ETH, and XRP. The Recently Launched BOA Exchange and Hello Group’s Upcoming Bitcoincash.io Trading Platform Recently another exchange called BOA Exchange has launched a set of crypto-markets that use bitcoin cash as the base currency. The exchange is very new as the trading platform explains that it recently finished its beta phase this May and is now opening signups to the public. BOA Exchange BCH markets. This platform just recently launched. Lastly, Bitcoin Cash supporters will soon see another exchange that uses BCH as the base currency from the Cyprus-based company Hello Group. In February the firm announced it had purchased the domain Bitcoincash.io to host its BCH trading platform. When visiting the URL Bitcoincash.io, visitors are greeted by a picture that says ‘Bitcoin Cash — Coming Soon.” The Cyprus-based firm Hello Group is launching an exchange that uses BCH as the base currency. When people visit the website Bitcoincash.io this banner comes up. The BCH community believes there is a significant need for more of these exchanges in order to decouple the digital asset’s price from BTC. Many of them believe BCH is a perfect choice for a trading platform’s base currency, as its speed and low fees would make deposits and withdrawals much faster and cheaper. For now, BCH traders have Coinex, Panda Exchange, the newly launched BOA Exchange, and the upcoming launch of Hello Group’s BCH trading engine. Do you want to see more exchanges offer BCH as the base currency for trading pairs? Let us know your thoughts on this subject in the comment section below. Disclaimer: Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information with the mentioned exchanges. Readers should do their own due diligence before taking any actions related to the content. Images via Shutterstock, Coinex, Panda Exchange, BOA Exchange, and Bitcoincash.io. Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today. The post A Look at a Few Exchanges That Use Bitcoin Cash as a Base Currency appeared first on Bitcoin News. View the full article

As the exchange rates for all cryptocurrencies declined this year, so did the attraction of GPU mining using graphics cards. As a result, the prices of cards that can be used for both gaming and mining have been cut drastically and leveled off, bringing them back into more affordable territory. Also Read: Censorship of Cryptocurrency Discussions on Reddit Gets Kafkaesque Bargain Bin Gone are the days of graphics cards being snatched up in bulk at premium prices far higher than the manufacturer’s suggested retail price. The cost of a new card is now tens of percentages lower than they were at their peak just a few months go, and some can even be found at below the listed price. Looking at the real-time average price charts for representative dual-use cards on trackers like pcpartpicker, we can see that the spikes of the beginning of the year have been almost completely eroded, and prices are now very close to their levels before the craze. For example, the average price of Geforce GTX 1070 Ti went from around $900 at its height to just about $550 today. And if you go looking for bargains you can even find some cards that have dropped by over 50%. GeForce GTX 1070 Ti (Average price in USD) pcpartpicker.com Manufacturers’ Fears Materialized While gamers might enjoy seeing miners finally stopping to crowd them out of the market, this must look totally different for GPU manufacturers and their shareholders. Although the major companies repeatedly tried to reassure their traditional gaming customers that they remain their main focus, even going as far as asking retailers to limit the number of graphics cards they sell to miners, hardware manufacturers were riding high on the crypto wave. According to an analysts report, the top three producers of GPUs (AMD, Nvidia and Intel) have sold more than 3 million graphics cards to cryptocurrency miners in 2017, with revenues reaching $776 million. This is a significant share of their business, and it now appears that they were right to fear that decreasing demand from miners can affect sales this year. Their next quarterly results reports will probably shed more light on the impact. This Radeon RX 580 card used to go for above $600 just a few months ago, now it’s even below the listed price Are GPU miners selling all the cards they bought at the peak or just not buying new ones? 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 Pulse, another original and free service from Bitcoin.com. The post Get Them While You Can Gamers, Graphics Cards Prices Have Crashed appeared first on Bitcoin News. View the full article

A court order to freeze assets stored in an account on a cryptocurrency exchange in Tokyo could not be enforced, it was learned on June 13. The exchange said it was ‘technically difficult’ to foreclose the account. A mechanism for freezing accounts on the platform has apparently not been developed yet. Experts urge crypto exchanges to put such a mechanism in place, or people could exploit the flaw to avoid seizure or to hide assets. Also read: Crypto and Virtual Reality Meet in Ken Liu’s Science Fiction Tokyo Exchange Can’t Comply with Court Ordered Crypto-Account Closure Due to Technical Difficulties The regional news outlet Nikkei has reported that a woman in her 70s requested a cryptocurrency account foreclosure. According to her lawyer, Yuko Fujii, the lady got caught in trouble in May 2016, as a trader in Saitama Prefecture convinced her that she could make a profit with virtual currencies. The lady allegedly was advised to purchase cryptocurrencies at 30% above the market price. She purchased the amount of about JPY 500,000 (~US$4,525) worth of crypto with JPY 150 million (~$1,357,500). The lady later reconciled with the trader and was being repaid at the purchase price, but suddenly the payment stopped. She then requested the foreclosure of the account under the name of the trader to get the remaining JPY 13 million (~$117,650). Her claim was approved and the Saitama District Court ordered the exchange to foreclose the wallet linked to the trader’s ripple account twice, once in July 2017 and the other in April 2018. But the cryptocurrency exchange replied that the wallet was technically not managed by them and that they could not refund the victim. They added that if they reimbursed the lady on behalf of the wallet company, they would not be able to get refunded by the trader, and they would suffer losses themselves. The exchange later revealed that it had withdrawn its application to enter the cryptocurrency industry, based on the revised fund settlement law. Exchange Has Yet to Refund the Victim As a result, because the wallet of the trader was not foreclosed, there is alleged evidence that the trader had moved his crypto out, and the victim still has not recovered her funds. Fujii, the attorney, commented that if the cryptocurrency exchange did not comply with the court order, the victim could “hardly” be relieved from the damage she suffered. The cryptocurrency exchange told Nikkei that they consulted an advisory lawyer and recognized that there was a legal problem regarding the payment. “We have not yet refunded the victim,” the exchange’s official replied. The exchange had received a business improvement order from the Fukuoka Financial Office in March and later revealed that it had withdrawn its application to enter the cryptocurrency industry based on the revised fund settlement law. Professor Masashi Nakajima, a financial expert familiar with crypto, said that a cryptocurrency that doesn’t have an administrator cannot be seized by a public authority. It is also impossible to technically guarantee a secure execution of the refund. This practice could become the hotbed for money laundering and concealment if not tackled properly. What do you think about the Tokyo exchange that couldn’t comply with a court order to close an account due to technical difficulties? Let us know your thoughts on this subject in the comments below. Images via Shutterstock and Pixabay. 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 Despite Court Order Tokyo Exchange Says It’s ‘Technically Difficult’ to Close Accounts appeared first on Bitcoin News. View the full article

The Securities and Exchange Commission’s head of the Division of Corporate Finance, William Hinman, stated during the Yahoo All Markets Summit today in San Francisco that cryptocurrencies like BTC and ETH are not securities. Soon after the SEC executive made the statements, cryptocurrency markets saw some gains as BTC rose $350 immediately after the news went public. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space SEC Executive: Decentralized Cryptocurrencies Are Not Securities The SEC executive who is in charge of overseeing the cryptocurrency and initial coin offering (ICO) landscape, William Hinman, stated today that cryptocurrencies like bitcoin core (BTC) and ethereum (ETH) are not considered securities. Hinman stated that some ICOs may be considered securities but the decision is based off a factor of decentralization. “Central to determining whether a security is being sold is how it is being sold and the reasonable expectations of purchasers,” Hinman explained at the Yahoo Summit. “This also points the way to when a digital asset transaction may no longer represent a security offering. If the network on which the token or coin is to function is sufficiently decentralized – where purchasers would no longer reasonably expect a person or group to carry out essential managerial or entrepreneurial efforts – the assets may not represent an investment contract.” Moreover, when the efforts of the third party are no longer a key factor for determining the enterprise’s success, material information asymmetries recede. As a network becomes truly decentralized, the ability to identify an issuer or promoter to make the requisite disclosures becomes difficult, and less meaningful. Immediately after the announcement, BTC/USD markets spiked well over $350 USD in an hour. Many other cryptocurrency markets like ETH have seen gains as well. A Digital Asset That Involves a Third Party and Drives the Expectation of a Return Is Likely a Security Hinman noted that some ICOs tout that they are decentralized and are clearly not while others are obviously fraudulent. The SEC executive further emphasized that he believed networks like BTC and ETH are decentralized which makes them not fit within the definitions of a standard security. “Based on my understanding of the present state of Ether, the Ethereum network, and its decentralized structure, current offers and sales of Ether are not securities transactions.” Hinman also details some of the main factors people should consider when assessing whether or not a cryptocurrency is a security. “Primarily, consider whether a third party — be it a person, entity or coordinated group of actors — drives the expectation of a return,” Hinman states. The Division of Corporate Finance executive concludes that there are exciting legal times ahead and he is pleased to be a part of the process. Hinman’s speech was very positive towards cryptocurrency solutions and blockchain technology adding: What I believe may be most exciting about distributed ledger technology — that is, the potential to share information, transfer value, and record transactions in a decentralized digital environment. Potential applications include supply chain management, intellectual property rights licensing, stock ownership transfers and countless others. What do you think of William Hinman’s statements today? Let us know in the comment section below. Images via Pixabay, Yahoo Finance, and Bitcoin Wisdom. Want a comprehensive list of the top 500 cryptocurrencies and see their prices and overall market valuation? Check out Satoshi Pulse for all that hot market action! The post SEC Executive: ‘Cryptocurrencies with Decentralized Structures Not Securities’ appeared first on Bitcoin News. View the full article

Solar Alliance announced Star Trek icon, actor William Shatner, as their celebrity spokesperson for the startup using the sun’s energy to power bitcoin mining. This isn’t Mr. Shatner’s first encounter with cryptocurrency, and even still he readily admits not understanding what it is he’s shilling. Also read: Crypto and Virtual Reality Meet in Ken Liu’s Science Fiction William Shatner Boldly Goes Where a lot of People Have Already Gone Maybe some of Captain James T. Kirk’s maverick character on the kitchy television show, Star Trek, rubbed off on the man who played him, William Shatner. Captain Kirk bagged the smokin’ hot African American Lieutenant Uhura (Nichelle Nichols) in a risque interracial television kiss, for example. He was also known to be quite the adventurer, exploring “strange new worlds.” Perhaps this fictional role emboldened Mr. Shatner, 87, to accept a spokesperson gig with Solar Alliance. Solar Alliance is attempting to answer growing criticism from environmentalists about how bitcoin mining wastes precious resources. CEO Jason Bak explained to the Chicago Tribune his company would spread out on 14 acres in the middle western United States, using solar panels to generate the relatively large amounts of energy miners need. There, miners can lease space along with receiving coaching from the company along the way. An Ingratiating Confession Mr. Shatner confessed to the Chicago Tribune, “The concept is so, I guess the word is bizarre. You have to blank your mind and say, ‘What is blockchain, again? How does mining operate, again?’ The concepts are really strange, and yet when you begin to grasp it, it makes sense.” This seems to be the Canadian born actor’s default position on the phenomenon. Back in 2014, when bitcoin core (BTC) could be used as a tipping currency, a fan sent him some satoshis. The iconic actor tweeted in response, “what the heck is bit coin [sic]?” Mr. Shatner present day said he was made aware of Solar Alliance when they outfitted his own home by coincidence. Asked if he’d take a personal tour of the facility once it’s up and running, he affirmed, “I’m in Chicago a lot, and I live in Kentucky part of the time. I might very well do that. It’s an interesting idea to see it at work because … it’s so esoteric that it’s difficult to understand.” The Illinois small town of less than 10,000 residents, Murphysboro, has laid down the welcome mat to the company. Its mayor has even suggested a 165,000 sq ft factory, vacant for over a dozen years, be converted for mining operations. Mayor Stephens explained his town “like a lot of Middle America, have seen job losses because of a change in the worldwide economy. From my perspective, we’re going to have someone who will occupy a previously derelict property, and whatever development comes out of it will just make it more marketable if the project is not successful.” What do you think about celebrity endorsements in crypto? Let us know in the comments. Images via the Pixabay. 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 Pulse, another original and free service from Bitcoin.com. The post William Shatner Joins Bitcoin Mining Project, Admits He Doesn’t Quite Get It 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. EnergiToken (ETK), which closed its $15 million ICO sale in 82 minutes, today announced that it will list on the first of two exchanges in a week. Community members will be able to deposit and withdraw ETK tokens with ETK/BTC trading pairs on Coinsuper from Thursday 14th June 2018. Coinsuper is a world leading digital asset exchange founded in Hong Kong and in the top 20 exchanges on Coin Market Cap. In operation since February 2018, it provides cryptocurrency trading for FinTech and blockchain enthusiasts globally. The exchange currently lists many top coins, so ETK will be listed alongside the likes of Bitcoin, Ethereum and Litecoin, which will be one of the only utility tokens. Energi Mine is using ETK to revolutionise the global energy market through decentralisation and blockchain technology. The ultimate goal is to reduce global energy demand and carbon emissions by creating a system of financial incentives for businesses and consumers to save energy. Energi Mine will provide ETK to consumers in exchange for engaging in energy saving behaviours such as using public transportation, purchasing energy efficient appliances to reducing energy consumption. Currently, phase 1 of the EnergiToken Rewards App (beta version) has already been launched in the UK and Korea with the Japanese version being released this week. So, if you own an electric car you can claim free tokens when you upload proof of purchase documentation. Energi Mine are working with a number of other partners, including the Energy Managers Association (EMA) who manage the energy for 100k businesses, plus have a number of prospective partners and more announcements due out in the coming weeks. Omar Rahim, CEO of Energi Mine says: “The Coinsuper team has great experience servicing the community with a reliable and stable exchange with high liquidity. We believe this is the ideal place to list ETK.” Dr. Anthony Ng, COO of Coinsuper says: “We are excited to be part of Energi Mine ICO journey by being the first exchange that is going to list Energi Token. Their unique idea of rewarding businesses and end users to make energy saving choices marks them out as a company to watch out for in the crypto space.” The listing on Coinsuper is the first listing of ETK on an exchange, ETK will also be listed on CoinBene this week. CoinBene is one of the largest cryptocurrency exchange platforms in Southeast Asia, used by millions from over 150 countries. For more information about EnergiToken and its energy-saving reward scheme or to become a partner, please visit www.energitoken.com, follow on twitter at @EnergiMine or join the Energi Mine Telegram group Contact Email Address dan@brightbee.co.uk Supporting Link www.energitoken.com This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post PR: Blockchain Comes to the Real World with EnergiToken appeared first on Bitcoin News. View the full article

The US Commodity Futures Trading Commission (CFTC) is being challenged in court over its oversight of cryptocurrencies. The defendants argue that their tokens are not commodities, with no futures contracts, which the CFTC regulates. The outcome of this case could affect the Commission’s ability to police all future crypto frauds. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Challenging the CFTC’s Power The power of the CFTC over cryptocurrencies has reportedly been challenged in court. The case involving My Big Coin could determine whether the derivatives regulator “has the authority to combat fraud associated with cryptocurrencies,” Reuters reported on Wednesday. Katherine Cooper, lawyer for the defense, explained that the CFTC should not have jurisdiction in this case, stating that “our argument boils down to the fact that because My Big Coin does not have future contracts or other derivatives trading on it, it is not a commodity,” and does not fall under the Commodity Exchange Act according to which the CFTC is the regulator. The news outlet elaborated: Lawyers watching the case say a ruling against the CFTC could affect its ability to police virtual currency frauds as the only one on which futures contracts are traded in the United States is bitcoin. Gregory Kaufman, a lawyer with Eversheds Sutherland, believes that the outcome of this case “would have a chilling effect on the CFTC’s application of its powers in this area.” Other than My Big Coin, the Commission has announced eight cryptocurrency-related cases to date, the publication noted, adding that U.S. District Judge Rya Zobel in Boston is set to hear the My Big Coin case on Thursday. About My Big Coin Case The case began in January when the CFTC sued Randall Crater and the company he founded called My Big Coin Pay Inc. The news outlet described, “The CFTC says the defendants misappropriated $6 million from 28 customers they lured by naming their virtual currency [My Big Coin] to sound like bitcoin and further claiming it was backed by gold.” The Commission was given the authority over crypto in March when U.S. District Judge Jack Weinstein in Brooklyn “ruled for the first time that virtual currencies can be regulated by the agency as a commodity,” the publication conveyed. However, Crater’s lawyers argued: The CFTC has no authority over the virtual currency because it [My Big Coin] is not a commodity like wheat or cotton or a service that is traded using futures contracts, the typical focus of the agency’s enforcement regime. Nonetheless, Neal Kumar, a lawyer at Willkie Farr & Gallagher, was quoted explaining that “Crater may still lose because the Commodity Exchange Act defines services as commodities not just when they currently have futures contracts associated with them but in the future could.” Do you think the CFTC should have jurisdiction over all cryptocurrencies? Let us know in the comments section below. Images courtesy of Shutterstock and CFTC. Need to calculate your bitcoin holdings? Check our tools section. The post US Regulator’s Power Over Crypto Challenged in Court appeared first on Bitcoin News. View the full article

Regulated cryptocurrency exchange Itbit announced today that it has received approval from the New York State Department of Financial Services to add more cryptocurrencies to its product offerings. The company will begin offering custody, escrow, OTC trading, and exchange services for BCH, ETH, LTC, and XLM, in addition to its existing BTC offerings. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Approval by the NYDFS Itbit announced on Thursday, June 14, that it will start offering several new products based on cryptocurrencies other than BTC. The New York-based company wrote: Global crypto asset platform Itbit announced today it has received approval from the New York State Department of Financial Services (NYDFS) to offer expanded trading and custody services for bitcoin cash (BCH), ethereum (ETH), litecoin (LTC) and stellar lumens (XLM). Itbit will start immediately offering custody, escrow and OTC trading services for these new assets, with platform exchange trading to follow. Previously only BTC products were available. Itbit COO Andrew Chang commented, “by gaining this regulatory approval, we are now able to open the doors for individuals and institutions to access crypto assets beyond just bitcoin.” Itbit became the first bitcoin exchange to be granted a banking license by the NYDFS in May 2015. The license allows the exchange to operate in all 50 U.S. states under the New York banking laws, CEO Chad Cascarilla explained at the time. Itbit’s Product Offerings Itbit’s website outlines several services such as crypto exchange, OTC trading, and custody services. “US dollars are FDIC-insured and all fiat and bitcoin customer assets are fully protected and backed by mandatory capital reserves,” the company details. For OTC trading, the minimum investment is 25 BTC. The exchange also offers escrow transactions. While “Itbit acts as the agent to negotiate a trade between two parties and conducts settlement” in OTC trading, it “acts as a neutral party to settle a trade brought forward by an agent or buyer/seller mandate” in escrow transactions. At the end of May, Itbit’s operator, Paxos, announced that it had raised $65 million. Part of the funds raised will be used to operate the Itbit exchange and custodian service, CEO and co-founder Charles Cascarilla said at the time. Last week, the U.S. Commodity Futures Trading Commission (CFTC) reportedly demanded trading data from Itbit and three other crypto exchanges since bitcoin futures provided by CME Group, which it regulates, derive their value from them. What do you think of Itbit adding BCH, ETH, LTC, and XLM products? Let us know in the comments section below. Images courtesy of Shutterstock, NYDFS, and Itbit. Need to calculate your bitcoin holdings? Check our tools section. The post Regulated Crypto Exchange Itbit Adds BCH, ETH, LTC, and XLM Products appeared first on Bitcoin News. View the full article

As an emerging asset class, cryptocurrency and blockchain technology related investments are gaining begrudging respect among finance professionals. Market slides aside for the moment, a study released by Grayscale Investments attempts to make the case investors should seriously consider adding crypto to their respective portfolios, as they bring better returns and, counterintuitively, reduce risk and volatility. Also read: Crypto and Virtual Reality Meet in Ken Liu’s Science Fiction Grayscale Urges Modern Investors to Incorporate Crypto into Portfolios Granted, it’s a strange time to be making such an argument: crypto markets as of this writing are bloody, and one only need cruise over to Satoshi Pulse in order to see the carnage. Nevertheless, Grayscale Investments (GI), a major player in the ecosystem as it relates to mainstreaming crypto in the broader world of finance, released, A New Frontier: How Digital Assets Are Reshaping Asset Allocation by Matthew Beck. It’s a bold attempt to persuade modern investors of the need for cryptocurrency, and their related offspring, in any balanced portfolio. They “view digital assets as a brand new asset class that can enhance strategic asset allocation and help investors build portfolios with higher risk-adjusted returns. We will provide a few different lenses through which the reader can gain a deeper understanding of the role that digital assets may play in building more efficient portfolios.” Throughout the paper, Mr. Beck refers to the crypto phenomenon as “digital assets,” which he believes “provide exposure to unique market opportunities and risks, thus creating a diversifying return stream for investors. As such, they should be considered a component of the optimal beta portfolio alongside traditional assets such as equities, bonds, and real estate.” GI is a subsidiary of Digital Currency Group (DGC), a venture capital firm based in New York City. Grayscale actually precedes DGC by a couple of years, begun and maintained by Barry Silbert, a noted finance figure in the crypto space. DGC’s umbrella includes GI, of course, but also Coin Desk as its independent media arm. Grayscale itself is considered a leader in the purgatory between spot markets and over-the-counter so-called fringe investing and traditional equities. GI manages Bitcoin Investment Trust (GBTC), the first of its kind to offer accredited investors publicly traded shares measured in the price of bitcoin core (BTC). Accredited investors have earned more than $200K the last two years, with assurance s/he will do the same this year, or has over $1 million in net worth. A Well Argued Reminder Fundstrat’s Tom Lee lauded A New Frontier, tweeting, “This report is a well argued reminder that adding crypto to a portfolio enhances return while reducing overall portfolio risk/volatility. Not sure there are any other emerging asset classes that benefit a balanced portfolio this way.” And at the outset, Mr. Beck’s attempt is to first square digital assets with Modern Portfolio Theory (MPT). In short, he believes “many of today’s asset allocators are missing out on a ‘free lunch.’ That’s because (i) digital assets represent a brand new investment opportunity that is uncorrelated to other asset classes and (ii) investors are generally under-allocated to this sector. It is our view that the optimal beta portfolio lies somewhere higher than what was previously believed to be the efficient frontier, and digital assets are the proverbial ‘missing piece of the puzzle.’” Breathlessly, Mr. Beck insists “digital assets are squarely at the intersection of some of the most significant trends reshaping the global economy, including: A new market paradigm, characterized by slow economic growth, low interest rates, and divergent central bank policies. Rapid advancements in financial technologies and payment infrastructure, which now make it possible to move, settle, and clear value/assets at the same speed as information in a digital format. Regulatory shifts, altering financial industry economics and significantly increasing the cost of compliance and financial operations. Demographic shifts, driven by (i) the next generation of investors entering their prime earning years (i.e., millennials) and (ii) baby boomers entering retirement and tapping underfunded pension plans,” and this last part Tom Lee hit on a few months back in his own presentation. Regarding diversification and adding digital assets, A New Frontier stresses “the average rolling one-month correlations range from slightly negative to slightly positive, with an average correlation of zero. This provides evidence that digital assets can be considered a diversifying component in multi-asset portfolios. Moreover, many digital assets are imperfectly correlated to one another, which means there may even be diversification benefits within the asset class itself.” A healthy chunk of the paper runs through hypothetical investment scenarios, and while they’re ‘mathy’ and graph-laden, they’re somewhat less convincing. A general good rule of thumb when thinking about cryptocurrencies is how no one, not one person, understands them. Sure, they’ve got parts of the equation, and that can be very powerful, but ultimately digital assets still face giant hurdles with regard to mainstream adoption, the kind Grayscale hopes. Regulation, which they’re on record as inviting, could strangle the golden goose, as was empirically the case with New York’s Bit License. Add to the above whether institutional money will finally find its way into the space with the liquidity long dreamed by the likes of GI, and conservative mom and pop investors probably won’t be so keen on incorporating crypto long term. Mr. Beck concludes, acknowledging it is “still early in the lifecycle of digital assets, but we believe our multifaceted approach to assess their investability makes a compelling case for investors to have some portion of their portfolio allocated to this new asset class. A lot can happen over the next few years, but remember: diversification is a ‘free lunch’ and asset allocation is all about the long-game.” Do you think crypto enhances return and reduces risk? Let us know in the comments. Images via the Pixabay, Grayscale. 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. Disclaimer: Bitcoin.com does not endorse nor support this product/service. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. The post Add Crypto to Investment Portfolio: Enhance Return, Reduce Risk/Volatility appeared first on Bitcoin News. View the full article

Thomson Reuters has expanded its sentiment data tracking service to cover the top 100 cryptocurrencies. You can find details about the TRMI 3.1 crypto sentiment package in our daily rubric, Bitcoin in Brief. Today’s edition also features other announcements crypto investors may find interesting. Some useful tools can help them develop dynamic strategies on the volatile markets, while a new bot offers automated crypto trading. Also read: Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and Digital IDs Thomson Reuters Expands Its Crypto Sentiment Data Tracking Thomson Reuters has included market data for the top 100 cryptocurrencies in its sentiment data offerings. The service is provided in cooperation with Marketpsych Data LLC, a leader in quantitative behavioral science. The expansion comes after the introduction of bitcoin sentiment index in March, when Marketpsych 3.0 was revealed, as news.Bitcoin.com reported, and the launch of cryptocurrency real-time rates data feed for six cryptocurrencies in May. According to the official announcement, the new Marketpsych Indices package uses machine learning and natural language processing to measure emotional and topical items across news and social media sites that may drive market participant behavior in cryptocurrency markets. TRMI 3.1 monitors more than 2,000 global news and 800 social media platforms in real-time. The providers of the service also note that the historical data dates back to 2009. The collected sentiment data can be incorporated into quantitative and qualitative analysis to support investment decisions, the press release details. Investors and other interested professionals can use it to quickly discern patterns affecting their respective businesses, Thomson Reuters points out. Suite of Tools for Crypto Investors Released Waterstreet Research Partners LLC, a Minneapolis-based investment research firm, has announced the launch of Crypto Powerranks, a suite of useful tools for cryptocurrency investors. Its users will be able to research, plan, and develop dynamic investment strategies on the volatile cryptocurrency markets, according to the announcement. Crypto Powerranks is a membership program that provides access to institution-level analytics and portfolio construction strategies. The service will enable cryptocurrency investors to create their own investment plans. The developers of the suite note that their solution comes in response to the need to use robust research tools in combination with market intelligence when making investment decisions. The service introduces 32 cryptocurrency indices, including 12 that use quantitative factor models known as smart beta. These proven index strategies have not been applied to the cryptocurrency market before. The platform also provides its members with continually updated tools, indicators, and reports, including index action reports. By applying the tools to the different indices, they will be able to research a single cryptocurrency or the broader market, when deciding which coins to choose for their investment portfolio. “More and more investors are entering the crypto market and have expressed a clear need for more insight, intelligence, and tools, so they can make better informed decisions,” said Jonathan Held, managing partner and cofounder of Waterstreet. In his words, crypto investors are tired of biased and emotional opinions in blogs and video channels. “They want clear, objective insights to help them understand the evolving market and make investment choices with confidence,” Held added. New Bot Automates Cryptocurrency Transactions A new trading bot, designed to automate cryptocurrency purchases and sales, has been launched by Millioncoin. The platform, which offers crypto-related services, promises to counter the high costs and inconvenience of transacting in digital coins. The bot, named AT.systems, provides its users with resources in real time, which help them profit from trading these cryptocurrencies. According to the developers, price instability, high transaction fees, and uncertainty about the relative value of different digital and fiat currencies represent barriers to buying, trading, and spending cryptocurrencies. Millioncoin is trying to address these issues by automating the respective processes. The bot offered by the company can automatically trade cryptocurrencies to provide its users with the best possible deal for their assets. Combined with other tools, AT.systems can also enhance crypto shopping. This, according to Millioncoin, will help consumers incorporate cryptos in their everyday lives. What are your thoughts on today’s announcements in Bitcoin in Brief? Let us know in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com The post Bitcoin in Brief Thursday: Thomson Reuters to Track Top 100 Cryptocurrencies 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. The Masternode Foundation (MANO) is proud to announce that Charity: Water was the most voted non-profit organization by its community and as a result it received a 1 BTC donation. This donation was pledged before MANO’s launch, on June 4th, and the core team asked its community on discord to suggest and vote for their favorite non-profit organization. “We’re glad Charity: Water was chosen by the community; while the Masternode Foundation is focused on developing easy to use solutions for masternode investors, we will always support organizations that take care of underprivileged people around the world.” – Kryptus, The Masternode Foundation’s Co-founder and Project Coordinator. The donation transaction can be seen on the blockchain here: https://explorer.bitcoin.com/btc/tx/2f4c2c18a9e73fa11ea675ce766e4366f7d90e46ee6c452f11e8c4abdbe33f93 Charity: Water official BTC address is 16mVKST2BekGWVFG13VrEBDsuiBGRTbc3v Donations of any amount are welcome and greatly appreciated, always request their official BTC address before donating. About the Masternode Foundation: The Masternode Masternode Foundation launched MANO, its own cryptocurrency, last week and is focused on developing tools and easy to use solutions for masternode investors, such as: – MANO Host, an exclusive one-click masternode deployment and hosting platform. – Automated Shared Masternode Platform, featuring real time balance information, reinvestments and share withdrawals. – Masternode Ranking, a comprehensive masternode coins listing and comparison platform. – Node Monitor App, a mobile application to continually follow masternode status and portfolio. – MANO Exchange, a masternode coin exclusive exchange. Read more about The Masternode Foundation at www.MANOcoin.org About Charity: Water: Charity: Water invests the money it raises into organizations with years of experience to build sustainable, community-owned water projects around the world. Their team works closely to ensure that every dollar is accounted for and then provides reports back to its donors. Learn about their approach, the solutions they fund and their partners on the ground at www.charitywater.org Contact Email Address news@MANOcoin.org Supporting Link www.MANOcoin.org 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: The Masternode Foundation Helps Crypto Investors and Gives Back to Charity appeared first on Bitcoin News. View the full article

The Thai financial regulator is expected to approve five ICO projects once the new regulatory framework takes effect this month. Out of 50 ICO projects in the country, only five satisfy the registration requirements set out by the regulator this week. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Five ICO Projects Expected to be Approved The Thai Securities and Exchange Commission (SEC) is expected to approve five initial coin offering (ICO) projects once the law to regulate cryptocurrencies and ICOs goes into effect, according to the Bangkok Post. The Commission approved the relevant regulations earlier this week and expects them to become law by the end of the month, as news.Bitcoin.com previously reported. While the SEC has not revealed which ICO projects will be approved, Mr. Thawatchai Kiatkwankul, the Commission’s director of corporate finance in the equity department, was quoted by the news outlet: Out of 50 ICO projects expecting to raise funds from the Thai capital market, five are ready as initial pilot projects. The announcement follows two recently launched ICOs in Thailand: Jfin Coin by Jay Mart Plc’s subsidiary, J Ventures Limited, and ZMN tokens by Zmine Holdings. New ICOs Expected in Q3 Before the law takes effect, the regulator has put the brakes on all new ICOs. However, “Previously-leveraged companies are still able to make transactions as normal since the law does not apply retroactively,” Krungthep Turakij explained. Mrs. Tipsuda Thavaramara. Mrs. Tipsuda Thavaramara, Deputy Secretary-General of the Thai SEC in charge of Policy and Corporate Finance Groups, said this week that an ICO issuer must first gain approval from the ICO portal it wants to be listed on, Prachachat Turakij described. ICO portals will act like financial advisors to the issuers, making sure that all know-your-customer (KYC) rules are followed. After gaining the approval of the ICO portal, the SEC will take about two months to review the ICO before approving it. Companies wanting to issue tokens must satisfy a number of criteria set by the SEC. For starters, they must have registered capital of at least 5 million baht (~US$156,625). Retail investors can only invest up to 300,000 baht (~$9,343) per ICO project or no more than 70% of the total value of offered tokens, as news.Bitcoin.com previously reported. The limits do not exist for institutional and ultra-high-net-worth investors. Thai SEC’s Future Plans for ICOs Mr. Thawatchai Kiatkwankul added that in the future the Commission “is preparing to expand and combine its unit for registration of ICOs with initial public offerings (IPOs),” the Bangkok Post conveyed. Citing that ICO projects have growth potential, he further noted that the SEC will work with ICO portals to screen potential scams. The publication elaborated, with reference to the director: Rules and regulations related to digital asset investment and transactions could be eased, given that market participants are more educated on digital asset investment and domestic competition is on a par with other digital asset markets. What do you think of Thailand’s policies on ICOs? Let us know in the comments section below. Images courtesy of Shutterstock and Thai SEC. Need to calculate your bitcoin holdings? Check our tools section. The post Thailand Expects to Approve Five ICO Projects out of 50 appeared first on Bitcoin News. View the full article